WEBVTT 00:00:00.000 --> 00:00:02.160 Welcome back to another episode of the Reseller's 00:00:02.160 --> 00:00:04.559 Mindset Podcast. My name is Mike, also known 00:00:04.559 --> 00:00:06.559 as the Used Book Guy on YouTube, along with my 00:00:06.559 --> 00:00:08.599 friend and fellow full -time reseller, Johnny 00:00:08.599 --> 00:00:11.179 B. We help people start and grow their reselling 00:00:11.179 --> 00:00:13.580 businesses from the ground up. We also have a 00:00:13.580 --> 00:00:15.580 weekly Zoom call and private Discord for all 00:00:15.580 --> 00:00:18.460 YouTube members. Head on over to youtube .com 00:00:18.460 --> 00:00:20.820 backslash usedbookguy to join the channel and 00:00:20.820 --> 00:00:23.440 gain access to the full -length podcast, Zoom 00:00:23.440 --> 00:00:26.120 call, and private Discord today. Let's get into 00:00:26.120 --> 00:00:28.750 this week's episode. Mike's a bad man. I want 00:00:28.750 --> 00:00:31.530 to start off the recording with that. Well, what 00:00:31.530 --> 00:00:33.329 is up, everybody? Welcome to another episode 00:00:33.329 --> 00:00:35.969 of the Resellers Mindset Podcast. Mike sitting 00:00:35.969 --> 00:00:38.750 next to Johnny. And yes, I am a bad man, as you 00:00:38.750 --> 00:00:40.630 heard, because I didn't tell him the topic and 00:00:40.630 --> 00:00:42.189 I kind of made him come up with one. And then 00:00:42.189 --> 00:00:45.469 I said, don't waste your time. So today's topic, 00:00:45.630 --> 00:00:49.310 and I'm going to make Johnny go first. Let's 00:00:49.310 --> 00:00:52.869 keep on hitting. He says I'm a bad man. What 00:00:52.869 --> 00:00:56.100 would make you quit reselling? And if you had 00:00:56.100 --> 00:00:58.600 to quit reselling in any way, shape or form, 00:00:58.840 --> 00:01:01.420 what else would you move on to in your life? 00:01:02.700 --> 00:01:06.439 Ah, reselling. If I had to quit reselling, I'd 00:01:06.439 --> 00:01:08.340 probably just do another small business of some 00:01:08.340 --> 00:01:17.340 kind. I probably swing into, I might try YouTube 00:01:17.340 --> 00:01:20.620 and do some movie reviews and do that. Sounds 00:01:20.620 --> 00:01:23.340 like fun. What's going to make you quit though? 00:01:23.799 --> 00:01:28.700 What would make me quit? No money. Negative money. 00:01:31.519 --> 00:01:35.040 I mean, that is a determining factor. I love 00:01:35.040 --> 00:01:38.159 reselling. The fact I get paid to do it is wonderful. 00:01:38.680 --> 00:01:41.439 But at the end of the day, if it pays me no money, 00:01:41.560 --> 00:01:45.040 it's just a hobby at that point. And I need to 00:01:45.040 --> 00:01:49.379 live. So I got bills. So the hobby has to go 00:01:49.379 --> 00:01:54.189 away and I have to put on. a business attire 00:01:54.189 --> 00:01:56.989 and go do that, whatever that is. But for me, 00:01:56.989 --> 00:01:59.129 it'd be another small business. Uh, if I weren't 00:01:59.129 --> 00:02:03.310 doing YouTube punsy stuff, uh, and seven year 00:02:03.310 --> 00:02:05.849 grind at that, uh, cause that's, that's typically 00:02:05.849 --> 00:02:08.789 the average before somebody makes it. I would 00:02:08.789 --> 00:02:13.969 probably, I probably do some, uh, either a moving 00:02:13.969 --> 00:02:17.330 business or no, that's probably what I would 00:02:17.330 --> 00:02:19.689 do. Yeah. Cause you can't do a moving business 00:02:19.689 --> 00:02:21.610 unless you're not, unless you're not, I guess 00:02:21.610 --> 00:02:23.909 if you're talking just moving, like not like 00:02:23.909 --> 00:02:25.689 clean outs, because clean outs and you just wind 00:02:25.689 --> 00:02:26.909 up right back and resell them. Cause you got 00:02:26.909 --> 00:02:29.530 all this junk you want to get rid of. No, I've 00:02:29.530 --> 00:02:31.569 done that. I did that for my twenties. I'd probably 00:02:31.569 --> 00:02:35.530 hire a couple guys to do the menial manual labor 00:02:35.530 --> 00:02:38.310 part. And I would be more of logistics and routes 00:02:38.310 --> 00:02:41.830 and all that and bookings. I agree with it. The 00:02:41.830 --> 00:02:45.090 only caveat I have is even if it is making money, 00:02:45.129 --> 00:02:48.219 if it's too much work. I'm out, Johnny. Even 00:02:48.219 --> 00:02:50.659 if it is making me some shekels here and there. 00:02:51.080 --> 00:02:53.300 And it's like, hey, Mike, you got to be working 00:02:53.300 --> 00:02:57.240 from like 8 to 10 every day, like 8 a .m. to 00:02:57.240 --> 00:03:00.639 10 p .m. And like I'm barely paying my bills 00:03:00.639 --> 00:03:03.819 like that is no life to lead. And I think a lot 00:03:03.819 --> 00:03:06.419 of resellers fall into that trap of just spinning 00:03:06.419 --> 00:03:08.159 their wheels, spending a lot of time. But you 00:03:08.159 --> 00:03:10.560 are right. Like you got to you got to make money. 00:03:10.680 --> 00:03:13.340 And it's weird to think about, you know. What 00:03:13.340 --> 00:03:15.939 happens if we can't resell no more? Because at 00:03:15.939 --> 00:03:17.580 the end of the day, I mean, think about how many 00:03:17.580 --> 00:03:19.340 different things have happened like with brands 00:03:19.340 --> 00:03:21.159 over the year. Like you can't sell this brand. 00:03:21.439 --> 00:03:23.539 You can't sell that brand. You can't sell this 00:03:23.539 --> 00:03:25.740 type of stuff. You can sell this type of stuff. 00:03:25.919 --> 00:03:28.479 It's always changing. And, you know, it's kind 00:03:28.479 --> 00:03:30.680 of cool to see like what else you would do. For 00:03:30.680 --> 00:03:33.759 me, what else I would do besides reselling? It'd 00:03:33.759 --> 00:03:37.680 be tough, right? Like I do inspire and I have 00:03:37.680 --> 00:03:39.879 been working on other YouTube channels that are 00:03:39.879 --> 00:03:43.050 not related to reselling at all. So that is something 00:03:43.050 --> 00:03:48.250 I 100 % would double down on. I would definitely 00:03:48.250 --> 00:03:53.189 do more influencer content based on the influencer 00:03:53.189 --> 00:03:55.409 program and the money I know you can make off 00:03:55.409 --> 00:03:57.169 of that. And the money I have made off of that 00:03:57.169 --> 00:03:59.430 without doing a lot of work. I think there's 00:03:59.430 --> 00:04:04.509 so much opportunity to still make a lot of money. 00:04:05.759 --> 00:04:08.080 I won't say it's not a lot of work, but it's 00:04:08.080 --> 00:04:11.439 a lot less work than working, you know, a job 00:04:11.439 --> 00:04:14.680 as like a trash man or like a heavy labor intensive 00:04:14.680 --> 00:04:17.920 job. I think it kind of benefits us that we have 00:04:17.920 --> 00:04:19.540 the internet in the way that it is because it 00:04:19.540 --> 00:04:22.100 allows us opportunities that previous generations 00:04:22.100 --> 00:04:24.560 never had to be able to make income. Like think 00:04:24.560 --> 00:04:26.300 about these kids that have like these YouTube 00:04:26.300 --> 00:04:28.540 channels, right? Like that Ryan kid or whatever, 00:04:28.660 --> 00:04:31.120 like he's just making millions and millions and 00:04:31.120 --> 00:04:33.980 millions of dollars just from like content creation. 00:04:34.670 --> 00:04:37.149 That would be the route I would go. It just wouldn't 00:04:37.149 --> 00:04:40.810 be content creation around reselling or around 00:04:40.810 --> 00:04:43.470 myself. It would be around more popular things 00:04:43.470 --> 00:04:46.149 going on, which in turn should increase your 00:04:46.149 --> 00:04:48.850 revenue when you build kind of a YouTube channel 00:04:48.850 --> 00:04:54.329 out that way. But I'm also like, I mean, vending 00:04:54.329 --> 00:04:56.410 machines, I guess that's resell note, right? 00:04:57.589 --> 00:05:02.899 Yeah. Yeah, I mean, that's a pretty easy business. 00:05:03.040 --> 00:05:05.279 Once you get to the suppliers and the machines, 00:05:05.519 --> 00:05:06.779 the machines cost money. That's probably the 00:05:06.779 --> 00:05:09.620 biggest upfront expense. The suppliers and paying 00:05:09.620 --> 00:05:11.420 them to restock the machines for you, not a big 00:05:11.420 --> 00:05:13.680 deal. You have to go around with a bucket to 00:05:13.680 --> 00:05:16.160 get out the change and the dollar bills, right? 00:05:16.319 --> 00:05:17.860 And then you got to bring them back home, put 00:05:17.860 --> 00:05:20.500 them in this coin counting and dollar machine, 00:05:20.620 --> 00:05:23.379 the bankroll, quarter rolls. And then you go 00:05:23.379 --> 00:05:26.980 to the teller and she hates you. But it's definitely 00:05:26.980 --> 00:05:29.160 a viable business. And people make a lot of money 00:05:29.160 --> 00:05:30.959 that way, actually. It's a good business model. 00:05:32.939 --> 00:05:35.259 And that's kind of like reselling, except you're 00:05:35.259 --> 00:05:40.569 selling new. Yeah. But then again, I guess you 00:05:40.569 --> 00:05:42.529 could say anything is reselling, right? Right. 00:05:42.589 --> 00:05:44.509 Any business we're usually buying, unless it's 00:05:44.509 --> 00:05:46.290 like a service -based business, like you're saying, 00:05:46.389 --> 00:05:49.310 like moving or like landscaping, but I'm not, 00:05:49.370 --> 00:05:52.730 I'm not too big into like, I think landscaping 00:05:52.730 --> 00:05:54.649 is a great opportunity. I just don't know enough 00:05:54.649 --> 00:05:57.670 about it. And I have no idea about anything when 00:05:57.670 --> 00:05:59.129 it relates to that. So I need something like 00:05:59.129 --> 00:06:01.730 that. I'm a little bit passionate about. that 00:06:01.730 --> 00:06:04.350 i can still make good money on and like landscaping 00:06:04.350 --> 00:06:06.269 wouldn't be it for me like i'm passionate about 00:06:06.269 --> 00:06:08.449 food but i suck at food so like if i started 00:06:08.449 --> 00:06:11.670 a food truck like i would enjoy myself but it 00:06:11.670 --> 00:06:14.310 wouldn't make no money yeah i had a land well 00:06:14.310 --> 00:06:16.470 a quote -unquote landscape business more lawn 00:06:16.470 --> 00:06:19.509 care business in my my teenage years i made good 00:06:19.509 --> 00:06:23.089 money i was making like 500 a week i was i was 00:06:23.089 --> 00:06:26.629 really good money um but yeah i had no lawns 00:06:26.629 --> 00:06:30.870 edge work bush care um couldn't like route out 00:06:30.870 --> 00:06:33.560 a koi pond for you or anything like that just 00:06:33.560 --> 00:06:35.519 general lawn maintenance care it went really 00:06:35.519 --> 00:06:37.379 well i had a lot of clients in several neighborhoods 00:06:37.379 --> 00:06:40.399 i was just me as one man show me and my truck 00:06:40.399 --> 00:06:42.399 and my equipment pretty much that was good for 00:06:42.399 --> 00:06:46.819 a teenager honestly really good money um there's 00:06:46.819 --> 00:06:49.420 all kinds of opportunity out there i mean and 00:06:49.420 --> 00:06:52.519 then getting into retail is always kind of fun 00:06:52.519 --> 00:06:55.399 i plan to do brick and mortar with inside reselling 00:06:55.399 --> 00:06:59.410 would i do brick and mortar In and of itself 00:06:59.410 --> 00:07:04.269 with no reselling, that'd be a hard thing to 00:07:04.269 --> 00:07:06.829 swallow. I got to be moved into a high traffic 00:07:06.829 --> 00:07:10.290 area and whatever I'm selling has to be banging. 00:07:10.490 --> 00:07:13.029 People want it. They need it. They're compelled 00:07:13.029 --> 00:07:17.149 to buy it kind of deal. I think I also would 00:07:17.149 --> 00:07:19.129 approach it a little bit different. I would look 00:07:19.129 --> 00:07:23.589 earlier in my new business for ways to streamline 00:07:23.589 --> 00:07:27.540 things and kind of I would try to pick a business 00:07:27.540 --> 00:07:30.199 model where I didn't always have to be the sole 00:07:30.199 --> 00:07:32.379 person that made the whole business move, right? 00:07:32.459 --> 00:07:35.259 Because what we do now, if me or John, you don't 00:07:35.259 --> 00:07:38.500 feel like going to work for the next month, not 00:07:38.500 --> 00:07:40.220 per se, you're not going to go to work in your 00:07:40.220 --> 00:07:42.360 other business. But if we don't go out and source, 00:07:42.540 --> 00:07:44.000 we don't go out and run the routes, we don't 00:07:44.000 --> 00:07:47.240 pack the boxes, the business stops growing, the 00:07:47.240 --> 00:07:49.759 business stops making money. So that definitely 00:07:49.759 --> 00:07:52.120 would be something on my mind is, okay, is this 00:07:52.120 --> 00:07:54.279 business something after I get it off the ground 00:07:54.279 --> 00:07:56.779 and it's profitable? If I hire an employee, is 00:07:56.779 --> 00:07:58.759 it going to take a large part of the workload 00:07:58.759 --> 00:08:01.319 off me? And is there a lot of training that goes 00:08:01.319 --> 00:08:04.180 into having this employee do everything I did? 00:08:04.220 --> 00:08:06.519 Because it's next to impossible to train somebody 00:08:06.519 --> 00:08:10.560 to understand the scouting screens and kind of 00:08:10.560 --> 00:08:13.060 have the same knowledge base we do in this reselling 00:08:13.060 --> 00:08:15.560 business that we currently have. So I would look 00:08:15.560 --> 00:08:17.759 for something like... Perfect example would be 00:08:17.759 --> 00:08:19.639 like lawn care. Anybody can just grab the damn 00:08:19.639 --> 00:08:21.459 mower and go mow the lawn, right? Like we're 00:08:21.459 --> 00:08:23.500 not talking about things that are astronomically 00:08:23.500 --> 00:08:25.720 hard to figure out. I think that would also play 00:08:25.720 --> 00:08:28.740 a part in kind of what my next step would be. 00:08:29.899 --> 00:08:31.779 What's up, Amazon tellers? We wanted to take 00:08:31.779 --> 00:08:33.899 a second to talk about GoToLister, the software 00:08:33.899 --> 00:08:36.379 me and Johnny both use to list and manage our 00:08:36.379 --> 00:08:39.460 inventory and grow our businesses. With the fastest 00:08:39.460 --> 00:08:41.460 listing speeds out there and built -in profit 00:08:41.460 --> 00:08:44.870 analytics, it's a no -brainer. Easily and quickly 00:08:44.870 --> 00:08:47.750 have items available for sale using 2D barcodes 00:08:47.750 --> 00:08:50.070 and get more for your items with its built -in 00:08:50.070 --> 00:08:52.610 smart pricing. Make sure to check out the 30 00:08:52.610 --> 00:08:55.529 -day free trial at gotolister .com backslash 00:08:55.529 --> 00:08:57.950 Mike or using the link in the description below. 00:08:58.669 --> 00:09:02.769 I've done consulting before. That's always interesting. 00:09:04.210 --> 00:09:06.450 I don't find it very satisfying. The money's 00:09:06.450 --> 00:09:08.470 good, but I don't find it very satisfying because 00:09:08.470 --> 00:09:09.970 usually the person you're dealing with is... 00:09:10.750 --> 00:09:13.789 drowning and if it's long -term consulting they're 00:09:13.789 --> 00:09:17.870 needy after a while like they're they're hiring 00:09:17.870 --> 00:09:20.129 you to do billable hours but yet what they want 00:09:20.129 --> 00:09:23.789 to talk about is i don't know their relationship 00:09:23.789 --> 00:09:26.809 and how bad that's going or problems with their 00:09:26.809 --> 00:09:29.950 animals and pets or whatever and it's like you're 00:09:29.950 --> 00:09:33.009 paying me to help you give you business advice 00:09:33.009 --> 00:09:34.950 and it's hard for me to do that when you want 00:09:34.950 --> 00:09:37.110 to talk about your failing relationships because 00:09:37.110 --> 00:09:39.490 i'm not a therapist or a relationship counselor 00:09:39.490 --> 00:09:42.809 i'm here to talk about business i'm not a veterinarian 00:09:42.809 --> 00:09:46.629 either so what do you really i guess i'll take 00:09:46.629 --> 00:09:50.570 your money i don't i got nothing curious what 00:09:50.570 --> 00:09:54.330 what are some things you think would cause like 00:09:54.330 --> 00:09:56.929 the whole reason the idea of you reselling to 00:09:56.929 --> 00:10:00.950 just kind of stop in their place like a huge 00:10:00.950 --> 00:10:03.389 shift in the market where like people just stop 00:10:03.389 --> 00:10:05.809 buying used goods for whatever reason or like 00:10:05.809 --> 00:10:10.309 uh an absolute like overflow of inventory in 00:10:10.309 --> 00:10:13.590 the category you sell in uh which would make 00:10:13.590 --> 00:10:16.850 you to just kind of pivot 100 it's tough to kind 00:10:16.850 --> 00:10:19.269 of pinpoint what can make it go boom but there's 00:10:19.269 --> 00:10:21.110 a lot of things that can make it go boom as stupid 00:10:21.110 --> 00:10:22.909 as that sounds like there's a lot of things that 00:10:22.909 --> 00:10:25.600 could happen that kind of just blow up our whole 00:10:25.600 --> 00:10:27.759 business model right like we've already seen 00:10:27.759 --> 00:10:29.799 it over the years like the cost of thrift stores 00:10:29.799 --> 00:10:32.919 right like if you're the person today that just 00:10:32.919 --> 00:10:35.080 goes to thrift stores if you look at yourself 00:10:35.080 --> 00:10:38.179 your business today than where it was two years 00:10:38.179 --> 00:10:41.529 ago a year ago Your margins are getting smaller. 00:10:41.730 --> 00:10:43.950 The margins are getting smaller any way we shape 00:10:43.950 --> 00:10:47.009 it. Every year, fees go up. If fees don't go 00:10:47.009 --> 00:10:49.049 up, shipping's going up. There's always rising 00:10:49.049 --> 00:10:51.769 costs across the board. So technically, we are 00:10:51.769 --> 00:10:54.149 working towards that point, Johnny, of sooner 00:10:54.149 --> 00:10:56.769 or later, the margin is zero, which means we're 00:10:56.769 --> 00:11:00.570 making no money. Yeah, I mean, looking at it 00:11:00.570 --> 00:11:03.909 from the outside of getting feed out, I mean, 00:11:03.909 --> 00:11:06.090 there's other things I've seen crop up over the 00:11:06.090 --> 00:11:09.509 years. And these are more... I think buy employees 00:11:09.509 --> 00:11:13.789 than a real concern, honestly. Shop local, made 00:11:13.789 --> 00:11:17.250 in America, veteran owned. These are more up 00:11:17.250 --> 00:11:19.289 sales to their business because they want you 00:11:19.289 --> 00:11:23.309 to buy quote unquote in -house, whatever rooftop 00:11:23.309 --> 00:11:28.690 you want to put yourself in. But it's more, it 00:11:28.690 --> 00:11:31.850 doesn't impact the market as a whole. Sure, people 00:11:31.850 --> 00:11:35.350 will. be more incentivized to buy from that kind 00:11:35.350 --> 00:11:38.730 of person versus nebulous person over here but 00:11:38.730 --> 00:11:41.149 that's a small percentage of those kind of buyers 00:11:41.149 --> 00:11:42.789 because most people don't care they just want 00:11:42.789 --> 00:11:44.850 the item whatever the item is so i don't even 00:11:44.850 --> 00:11:46.830 think that's a ploy it would have to be something 00:11:46.830 --> 00:11:49.870 i don't know people stop shopping online for 00:11:49.870 --> 00:11:52.250 whatever reason yeah they stop shopping online 00:11:52.250 --> 00:11:56.750 or they only want to shop in retail again i i 00:11:56.750 --> 00:11:58.789 mean i'm kind of seeing that like a retail resurgence 00:11:58.789 --> 00:12:00.830 because people are tired of getting stiffed online 00:12:00.830 --> 00:12:05.429 or They miss it. They have that nostalgia thing. 00:12:05.610 --> 00:12:07.809 Remember when we used to go to the mall? I love 00:12:07.809 --> 00:12:10.389 malls. Me and Dev love going to the malls, but 00:12:10.389 --> 00:12:13.450 they're all dead. It's like there's more. Suncoast, 00:12:13.450 --> 00:12:18.190 Spencer's Gifts, back when GameStop wasn't as 00:12:18.190 --> 00:12:21.409 publicly heinous as it was. We had arcades and 00:12:21.409 --> 00:12:24.490 stuff, so the mall was the place to be. I don't 00:12:24.490 --> 00:12:27.710 think there's a place to be anymore that's like... 00:12:30.259 --> 00:12:33.100 The cultiest thing I could see right now is probably 00:12:33.100 --> 00:12:35.340 Starbucks. That's the place to be to get your 00:12:35.340 --> 00:12:38.159 morning coffee. And everybody's in line and everybody's 00:12:38.159 --> 00:12:40.840 in this uniform. I hate lines, but I need my 00:12:40.840 --> 00:12:42.940 Starbucks coffee. So there's some uniformity 00:12:42.940 --> 00:12:45.279 there amongst those people. But I don't see the 00:12:45.279 --> 00:12:46.820 whole mall. Like, what are you doing this weekend? 00:12:46.879 --> 00:12:48.580 I don't know. I'm just going to the mall. You 00:12:48.580 --> 00:12:51.120 don't see that anymore. That doesn't exist. I 00:12:51.120 --> 00:12:52.639 definitely would start a business too where the 00:12:52.639 --> 00:12:55.220 overhead costs in the beginning or even in the 00:12:55.220 --> 00:12:57.179 middle of the business would not be high, right? 00:12:57.240 --> 00:12:58.960 That's why I enjoy reselling is it allowed me 00:12:58.960 --> 00:13:02.649 to. be a little bit of financially free when 00:13:02.649 --> 00:13:04.549 it comes to my money, because you can keep costs 00:13:04.549 --> 00:13:06.769 down, you can manage everything. And that's the 00:13:06.769 --> 00:13:08.470 benefit of Amazon, right? You don't need to store 00:13:08.470 --> 00:13:10.789 your stuff, no packing supplies besides the boxes 00:13:10.789 --> 00:13:12.169 you're throwing it in. So I definitely would 00:13:12.169 --> 00:13:15.409 go the route of a business where I didn't have 00:13:15.409 --> 00:13:18.429 to have 50 grand to start it, right? I want something 00:13:18.429 --> 00:13:20.429 where I can just be, you know, I can just go 00:13:20.429 --> 00:13:23.470 buy a used mower, push mower, get a few clients 00:13:23.470 --> 00:13:25.350 and build upon it. Something like that kind of 00:13:25.350 --> 00:13:28.639 business would appeal more to me. Right. In the 00:13:28.639 --> 00:13:30.100 beginning of anything, you've got to sink your 00:13:30.100 --> 00:13:32.700 time in. Right. Like you start anything in the 00:13:32.700 --> 00:13:34.139 beginning. It's probably going to be where you're 00:13:34.139 --> 00:13:36.519 going to be spending the long days trying to 00:13:36.519 --> 00:13:38.299 grow the business, trying to grow the client 00:13:38.299 --> 00:13:41.460 list, whatever that may be. So you have to understand 00:13:41.460 --> 00:13:44.259 that sacrifice. But I don't I don't think it's 00:13:44.259 --> 00:13:46.299 smart to jump into a brand new business and just 00:13:46.299 --> 00:13:49.120 throw, you know, 50K added or take out a crazy 00:13:49.120 --> 00:13:51.559 business credit, you know, credit line to kind 00:13:51.559 --> 00:13:53.220 of get thing going, get something going. And 00:13:53.220 --> 00:13:55.639 you don't even know if there's any proof of concept 00:13:55.639 --> 00:14:00.909 that it's going to work. Right. And then would 00:14:00.909 --> 00:14:02.870 you consider getting anything like manufacturing 00:14:02.870 --> 00:14:07.570 or something you make yourself to sell? Yeah, 00:14:07.629 --> 00:14:09.690 I mean, I guess you can go that route. I mean, 00:14:09.730 --> 00:14:13.950 it's like your own product, kind of like Shark 00:14:13.950 --> 00:14:17.009 Tank, right? You show up and you got the next 00:14:17.009 --> 00:14:20.929 coolest gadget, the next scrub daddy. And I mean, 00:14:20.990 --> 00:14:23.409 I wouldn't consider that reselling. That's just 00:14:23.409 --> 00:14:26.070 you coming out. That's like... You being an inventor 00:14:26.070 --> 00:14:27.929 and developing a product, I don't have any cool 00:14:27.929 --> 00:14:31.470 ideas. Do you have any cool ideas you would like 00:14:31.470 --> 00:14:40.929 to share? I mean, no, I don't have any cool ideas. 00:14:43.009 --> 00:14:44.850 Manufacturing is an interesting thing. And even 00:14:44.850 --> 00:14:47.090 then, it would probably be pushed toward online 00:14:47.090 --> 00:14:49.870 selling, like on the various marketplaces. It'd 00:14:49.870 --> 00:14:52.169 be very hard to manufacture and sell local or 00:14:52.169 --> 00:14:55.929 sell at retail. Because even people like, I don't 00:14:55.929 --> 00:14:59.250 know, Hexclad, they make cookware, right? But 00:14:59.250 --> 00:15:01.950 they still pump a bajillion dollars out or the 00:15:01.950 --> 00:15:04.649 Ridge Wallet guy. They pump a bajillion dollars 00:15:04.649 --> 00:15:07.409 out in ad spin for their physically made product. 00:15:08.049 --> 00:15:10.210 Yeah, but I mean, it's a physically made product. 00:15:10.250 --> 00:15:11.929 So I don't think that would classify as, you 00:15:11.929 --> 00:15:14.389 know, being a reseller. I mean, I think the only 00:15:14.389 --> 00:15:16.289 way you kind of get into reselling is like you're 00:15:16.289 --> 00:15:18.350 doing something that's mass produced, like 3D 00:15:18.350 --> 00:15:21.240 printing and everybody has access to that. Like 00:15:21.240 --> 00:15:23.539 everybody, me and you can go print the same things, 00:15:23.620 --> 00:15:25.360 then that's reselling. But if you have your own 00:15:25.360 --> 00:15:29.799 product, your own, I guess, brand, then I wouldn't 00:15:29.799 --> 00:15:32.419 consider that reselling. But you are right. It's 00:15:32.419 --> 00:15:34.340 going to, no matter what you do, there's going 00:15:34.340 --> 00:15:36.100 to be some capital spend. But in the beginning, 00:15:36.159 --> 00:15:39.000 you have to be as frugal as possible. I'd probably 00:15:39.000 --> 00:15:41.820 do something book publishing route again, more 00:15:41.820 --> 00:15:44.700 indie style than what I was doing before, honestly, 00:15:44.899 --> 00:15:48.519 if I had to go back to that lifestyle. Talking 00:15:48.519 --> 00:15:51.360 like KDP publishing or what? No, I'd make physical 00:15:51.360 --> 00:15:54.039 products, print -on -demand probably, or bulk 00:15:54.039 --> 00:15:57.559 order from China product. So you're going to 00:15:57.559 --> 00:16:00.399 be the guy that prints the books? Yeah. I've 00:16:00.399 --> 00:16:05.340 done it before. Do it again. Oh, I'm interested. 00:16:05.460 --> 00:16:07.480 How does this work? You get a blank book from 00:16:07.480 --> 00:16:11.240 China, and then how does the machine print? No, 00:16:11.279 --> 00:16:17.580 no, no. So a writer submits a work, and you take 00:16:17.580 --> 00:16:20.190 that work, and you say it's shit. And you say, 00:16:20.250 --> 00:16:21.769 we're going to buy it anyway. And then we make 00:16:21.769 --> 00:16:23.389 all kinds of edits. So it looks nothing like 00:16:23.389 --> 00:16:25.909 it did before it was submitted to us. We pay 00:16:25.909 --> 00:16:28.149 them by the word. Then it's going to go to layout 00:16:28.149 --> 00:16:30.929 and editing. And then after all that's done and 00:16:30.929 --> 00:16:33.289 that, that takes probably, that's probably the 00:16:33.289 --> 00:16:36.590 second longest step. And then that gets shipped 00:16:36.590 --> 00:16:40.590 off to the printers after we decide how we want 00:16:40.590 --> 00:16:42.590 the book. Cause every book has a part number 00:16:42.590 --> 00:16:45.649 and it's a giant catalog. You wouldn't believe 00:16:45.649 --> 00:16:48.409 like just putting like a little gold guilting. 00:16:48.909 --> 00:16:50.690 There's a call number for that. So you got to 00:16:50.690 --> 00:16:52.610 know those numbers because you got to relay that 00:16:52.610 --> 00:16:55.370 to the English person who then relays that to 00:16:55.370 --> 00:16:58.529 the factory. And the factory produces these books. 00:16:59.429 --> 00:17:01.809 You get sent a proof. And if the proof looks 00:17:01.809 --> 00:17:04.529 good, then you make your bulk order for thousands 00:17:04.529 --> 00:17:06.930 and thousands of units. That takes a little bit 00:17:06.930 --> 00:17:08.630 of time to make. And then it gets put on a boat 00:17:08.630 --> 00:17:11.430 and then it gets stuck at the U .S. port. And 00:17:11.430 --> 00:17:13.369 you wait a while and then it gets loaded on a 00:17:13.369 --> 00:17:16.130 truck and then it arrives and then you sell it 00:17:16.130 --> 00:17:20.569 wherever you want to sell it. Fill me in here. 00:17:20.730 --> 00:17:23.930 I give you something I wrote. I wrote a book. 00:17:24.049 --> 00:17:27.549 I wrote a novel. I give you it. When it gets 00:17:27.549 --> 00:17:29.289 published, is it in my name or your name? Are 00:17:29.289 --> 00:17:32.250 you buying the rights from me? I would be buying 00:17:32.250 --> 00:17:35.190 the rights from you. Your name would be on the 00:17:35.190 --> 00:17:40.289 front of the book as the author. Early on, we 00:17:40.289 --> 00:17:42.710 did royalties. We didn't do that toward the end. 00:17:42.750 --> 00:17:45.269 We just paid you per word flat out. Depending 00:17:45.269 --> 00:17:48.490 on your caliber of writing, like how many works 00:17:48.490 --> 00:17:51.190 you had, that could be up to two cents to five 00:17:51.190 --> 00:17:54.450 cents. In some situations, 15 cents a word. So 00:17:54.450 --> 00:17:57.190 they're inclined to make it beefy, right? We 00:17:57.190 --> 00:17:59.089 pay them for all of that. We pay them for their 00:17:59.089 --> 00:18:01.769 work and labor. But once it hits editing, we'll 00:18:01.769 --> 00:18:04.569 make whatever changes we deem necessary to make 00:18:04.569 --> 00:18:10.609 it sell. It's not a complete rewrite. Your vision 00:18:10.609 --> 00:18:13.650 is still there. And sometimes we may consult 00:18:13.650 --> 00:18:16.259 you on it, but most of the time we don't. And 00:18:16.259 --> 00:18:18.799 then we make whatever editorial changes we need 00:18:18.799 --> 00:18:21.400 to spruce it up or cut things out we don't need. 00:18:21.660 --> 00:18:23.759 But again, you got paid for the full thing up 00:18:23.759 --> 00:18:29.720 front. And then, yeah, after content editing, 00:18:29.799 --> 00:18:33.259 it would go to grammatical editorial, all commas 00:18:33.259 --> 00:18:34.859 in the right place, periods where they need to 00:18:34.859 --> 00:18:37.339 be. Then you go to format editing, like spacing 00:18:37.339 --> 00:18:40.339 margins and stuff like that. Cover designs and 00:18:40.339 --> 00:18:42.200 other aspects. So you got to pay a cover artist. 00:18:44.839 --> 00:18:47.440 And then you got to make a PDF version of this 00:18:47.440 --> 00:18:49.980 thing in most cases. But that's generally how 00:18:49.980 --> 00:18:54.059 it works. A project like that could take anywhere 00:18:54.059 --> 00:18:56.420 between six and eight months to complete. From 00:18:56.420 --> 00:18:58.920 the time you sell it to us, the time it arrives 00:18:58.920 --> 00:19:03.200 off the truck that came from China. If you remember, 00:19:03.380 --> 00:19:10.240 what were the margins like? It really depended 00:19:10.240 --> 00:19:12.079 on project to project, but we were a $10 million 00:19:12.079 --> 00:19:15.900 a year company. that that's top line that that 00:19:15.900 --> 00:19:18.380 isn't net but yeah yeah we had a staff about 00:19:18.380 --> 00:19:23.019 50 people uh between contract workers and other 00:19:23.019 --> 00:19:28.119 various tasks um mainly it was mainly a contractor 00:19:28.119 --> 00:19:30.140 because we'd have repeat artists we would use 00:19:30.140 --> 00:19:32.440 we'd have repeat writers we would use layout 00:19:32.440 --> 00:19:34.559 editing whatever and we did some other things 00:19:34.559 --> 00:19:37.539 outside of that on the manufacturing thing too 00:19:38.459 --> 00:19:40.240 Because you get warehouse storage and warehouse 00:19:40.240 --> 00:19:42.680 shipping. Because, well, we got pallets and pallets 00:19:42.680 --> 00:19:45.240 of books. What do we do with them now? We did 00:19:45.240 --> 00:19:48.079 our stuff mainly on Kickstarter. So it's basically 00:19:48.079 --> 00:19:51.460 a fancy pre -order store. So we had money to 00:19:51.460 --> 00:19:54.740 pay for the purchase order. Because we never 00:19:54.740 --> 00:19:58.680 really made an order until it ended. Like we 00:19:58.680 --> 00:20:02.950 had the money to fulfill the order. But we would 00:20:02.950 --> 00:20:04.910 do all the work up until that point. We do the 00:20:04.910 --> 00:20:07.269 base editing and all that. And if we had a little 00:20:07.269 --> 00:20:10.690 money extra over, we may pay for a fancier cover. 00:20:10.769 --> 00:20:12.289 That was usually the last thing we did before 00:20:12.289 --> 00:20:15.690 we got shipped over to final layout and editing 00:20:15.690 --> 00:20:19.589 and got off to China to come to us. I got a crazy 00:20:19.589 --> 00:20:22.089 one for you. I'm curious if you were interested 00:20:22.089 --> 00:20:25.950 in my proposal, sir. Cash out everything you 00:20:25.950 --> 00:20:29.809 have today. Sell everything you own. Fill a suitcase. 00:20:30.529 --> 00:20:34.410 Take your money. Go live comfortably in a different 00:20:34.410 --> 00:20:37.470 country where the dollar is worth a lot more 00:20:37.470 --> 00:20:40.369 than it is here in the United States. And basically 00:20:40.369 --> 00:20:44.509 retire today on your bank account and your asset 00:20:44.509 --> 00:20:47.950 value, your net worth today in a different country. 00:20:48.349 --> 00:20:50.809 So open up a tiki bar in Fiji is what you're 00:20:50.809 --> 00:20:53.589 saying. You could open up a tiki bar. You could 00:20:53.589 --> 00:20:55.529 just sit on the beach all day. I mean, it's a 00:20:55.529 --> 00:20:57.750 real possibility. I've seen shows where people 00:20:57.750 --> 00:21:01.079 go to these other countries and, you know. You 00:21:01.079 --> 00:21:04.619 can live like top 1 % in that country spending 00:21:04.619 --> 00:21:07.440 $100 a month. And I mean, it wouldn't take a 00:21:07.440 --> 00:21:11.019 lot of money to just say, hey, I'm moving to 00:21:11.019 --> 00:21:14.319 XYZ country and I'm going to figure out something 00:21:14.319 --> 00:21:16.819 there. And imagine if you had a remote job over 00:21:16.819 --> 00:21:20.140 there making US dollars in one of those countries, 00:21:20.240 --> 00:21:22.480 you could sustain your lifestyle and kind of 00:21:22.480 --> 00:21:27.059 live a stress -free life. Okay. Since I've actually 00:21:27.059 --> 00:21:30.119 done research into this, the issue there. Is 00:21:30.119 --> 00:21:33.839 your US dollars heavily taxed if you're putting 00:21:33.839 --> 00:21:36.279 it in the other country's banks, like funneling 00:21:36.279 --> 00:21:39.559 it over there to spend? That's why they say initially 00:21:39.559 --> 00:21:43.299 bring the first $9 ,999 with you in cash when 00:21:43.299 --> 00:21:46.160 you fly over there, because you're getting taxed 00:21:46.160 --> 00:21:48.619 to funnel your money. That happens in most countries. 00:21:48.759 --> 00:21:51.220 They're taxing your US dollars to come into their 00:21:51.220 --> 00:21:53.059 foreign market, essentially. They get their piece 00:21:53.059 --> 00:21:59.809 of your money, which is fair. They also have 00:21:59.809 --> 00:22:01.750 different taxes and stuff. Some have extreme 00:22:01.750 --> 00:22:04.609 health care. So if you're still producing money, 00:22:04.789 --> 00:22:07.349 this isn't your retirement money, and it's coming 00:22:07.349 --> 00:22:09.150 in, you're going to get taxed on that, especially 00:22:09.150 --> 00:22:10.990 if you're offering your services or whatever 00:22:10.990 --> 00:22:13.650 it is in that country. It could be anywhere between 00:22:13.650 --> 00:22:16.829 30%, maybe sometimes 40%, depending on the country. 00:22:17.549 --> 00:22:19.670 However, your core thing that you're saying does, 00:22:19.730 --> 00:22:22.869 in fact, work. Your dollar stretches longer there 00:22:22.869 --> 00:22:25.829 as long as your dollar arrives there. That makes 00:22:25.829 --> 00:22:30.480 sense. It isn't heavily taxed after. Would I 00:22:30.480 --> 00:22:33.160 want to do that? I would not want to be in retirement 00:22:33.160 --> 00:22:35.119 mode. I would need something like that tiki bar. 00:22:35.240 --> 00:22:37.619 I would need something to mess around with. Maybe 00:22:37.619 --> 00:22:39.480 I make wooden boats or something. I don't know. 00:22:39.700 --> 00:22:42.420 I would need projects to do because I'm not the 00:22:42.420 --> 00:22:45.440 kind of guy and stop and smell the roses or just 00:22:45.440 --> 00:22:48.420 sit on a beach. I consider, for me, and nothing 00:22:48.420 --> 00:22:50.440 wrong with people like this, but I consider it 00:22:50.440 --> 00:22:53.839 a waste of time. It's funny because if you think 00:22:53.839 --> 00:22:56.299 about like the median or like what we consider 00:22:56.299 --> 00:22:58.480 poverty in the U .S., it like puts you in like 00:22:58.480 --> 00:23:00.519 the top one or two percent of incomes in the 00:23:00.519 --> 00:23:03.460 whole world. So I always thought to myself like, 00:23:03.559 --> 00:23:06.700 man, some people literally are working 80 hours 00:23:06.700 --> 00:23:10.640 a week, can barely make their bills. And if they 00:23:10.640 --> 00:23:13.339 had this money just in a different country, it 00:23:13.339 --> 00:23:14.960 just looks a little bit different, maybe has 00:23:14.960 --> 00:23:17.579 a different language and is a few thousand miles 00:23:17.579 --> 00:23:21.539 away. you would actually be able to live a comfortable, 00:23:21.740 --> 00:23:23.559 stress -free life and not have to worry about 00:23:23.559 --> 00:23:26.039 everyday bills piling up and feeling like you're 00:23:26.039 --> 00:23:28.539 never going to be able to retire. You're never 00:23:28.539 --> 00:23:32.000 going to be able to get ahead. Right. I live 00:23:32.000 --> 00:23:37.400 in Texas and we have a, what do you call it? 00:23:39.980 --> 00:23:45.920 A Mexican, it's like a restaurant and a hardware 00:23:45.920 --> 00:23:47.279 store in one. It's really weird. But anyway. 00:23:47.950 --> 00:23:49.549 At the back of the register, they have all these 00:23:49.549 --> 00:23:51.390 prepaid phone cards for them to call back home. 00:23:51.589 --> 00:23:56.049 And a lot of those guys, they live poor in the 00:23:56.049 --> 00:23:57.589 U .S. They get paid good money for what they 00:23:57.589 --> 00:23:59.089 do because they do a lot of manual labor jobs 00:23:59.089 --> 00:24:01.569 that you or I would not know how to do, first 00:24:01.569 --> 00:24:03.730 of all, nor would want to do. So they get paid 00:24:03.730 --> 00:24:05.950 really well for that. But they intentionally 00:24:05.950 --> 00:24:09.069 choose to live a poor lifestyle to send majority 00:24:09.069 --> 00:24:12.160 of their money back home to their families. their 00:24:12.160 --> 00:24:14.299 trip to the u .s is planned to be short term 00:24:14.299 --> 00:24:17.079 and they plan to retire like i had a guy his 00:24:17.079 --> 00:24:20.079 name is jose he did he built my shed out back 00:24:20.079 --> 00:24:23.059 it's beautiful uh all the drywall he added on 00:24:23.059 --> 00:24:25.619 an extra wing to it beautiful and i talked to 00:24:25.619 --> 00:24:28.099 him extensively about that um because that that 00:24:28.099 --> 00:24:29.839 restaurant thing that's where i found him but 00:24:29.839 --> 00:24:33.319 he did probably most and he built my cabinets 00:24:33.319 --> 00:24:37.119 in my kitchen as well uh beautiful work um but 00:24:37.369 --> 00:24:40.130 He said probably he keeps about 20 % of his money 00:24:40.130 --> 00:24:42.750 to live on, and 80 % of it went back home to 00:24:42.750 --> 00:24:45.029 his family. And I was like, when's the last time 00:24:45.029 --> 00:24:46.970 you've seen your family? I go once a year on 00:24:46.970 --> 00:24:50.809 a trip to see them, but I've been here for about 00:24:50.809 --> 00:24:54.450 15 years. But on year 20, and that was a couple 00:24:54.450 --> 00:24:56.470 years ago, I was like, I'm retiring, and I'm 00:24:56.470 --> 00:25:00.009 going to not worry or work ever again. That was 00:25:00.009 --> 00:25:02.430 his plan, and it worked out. He did it. He did 00:25:02.430 --> 00:25:06.640 the 20 -year run. The 20 -year U .S. run. It's 00:25:06.640 --> 00:25:10.079 crazy to think about, man. Like, you know, a 00:25:10.079 --> 00:25:11.440 lot of people have obligations. And I miss him 00:25:11.440 --> 00:25:13.240 because I have a lot of projects I would have 00:25:13.240 --> 00:25:16.079 loved for him to do. A lot of people have obligations 00:25:16.079 --> 00:25:19.140 here in the States, but I mean, it's a real reality. 00:25:19.240 --> 00:25:21.259 I know a lot of people kind of, you know, kind 00:25:21.259 --> 00:25:23.500 of go down that route and we never even really 00:25:23.500 --> 00:25:25.279 think about it being an opportunity, but you 00:25:25.279 --> 00:25:27.730 could take your net worth. here in the united 00:25:27.730 --> 00:25:30.410 states and you could you know live comfortably 00:25:30.410 --> 00:25:33.549 off you know what you have here even though here 00:25:33.549 --> 00:25:35.690 it's not a lot right like you think to yourself 00:25:35.690 --> 00:25:37.670 like man i don't have a lot of money maybe i 00:25:37.670 --> 00:25:40.349 only got five thousand dollars well In some other 00:25:40.349 --> 00:25:43.250 countries, and they're not all shitholes, like 00:25:43.250 --> 00:25:45.569 you could live off that $5 ,000 for five, 10 00:25:45.569 --> 00:25:48.289 years easily, comfortably. And here you are still 00:25:48.289 --> 00:25:50.529 spinning your wheels, working, working, working. 00:25:50.769 --> 00:25:53.150 And yeah, it was just another kind of angle I 00:25:53.150 --> 00:25:55.289 had for what you possibly could do. No, it's 00:25:55.289 --> 00:25:58.589 a legitimate angle. And he put his mother -in 00:25:58.589 --> 00:26:00.250 -law in probably the best healthcare they had 00:26:00.250 --> 00:26:04.410 to offer there. He had three homes, one for his 00:26:04.410 --> 00:26:06.710 kids. He had a beach home and a regular home 00:26:06.710 --> 00:26:10.279 for him and his wife. But he bought an extra 00:26:10.279 --> 00:26:12.240 home just for the kids if they ever needed it, 00:26:12.259 --> 00:26:15.539 just like a redundancy, spare, emergency, you 00:26:15.539 --> 00:26:18.079 screwed up somewhere in life or life stepped 00:26:18.079 --> 00:26:20.660 on you kind of scenario. He lived a very comfortable 00:26:20.660 --> 00:26:23.309 life. And I think you can do the same. if you 00:26:23.309 --> 00:26:25.589 plan ahead to do that, like he planned for 20 00:26:25.589 --> 00:26:28.410 years here in the States, if we plan, okay, I'm 00:26:28.410 --> 00:26:30.230 going to work 20 years here in the States and 00:26:30.230 --> 00:26:32.549 I'm going to go off to, I don't know, somewhere 00:26:32.549 --> 00:26:34.910 in Eastern Asia where you can live very, very 00:26:34.910 --> 00:26:37.809 well in Eastern Asia or somewhere in South America, 00:26:37.829 --> 00:26:39.589 you can live very, very well. Now there's the 00:26:39.589 --> 00:26:43.069 arguments of like crime and do I really, do I 00:26:43.069 --> 00:26:45.809 really trust their healthcare system? I don't 00:26:45.809 --> 00:26:49.650 want them to use rusty razors on me. And all 00:26:49.650 --> 00:26:52.190 the, all these red flags, but. If you're self 00:26:52.190 --> 00:26:53.910 -conscious of this and you do your research and 00:26:53.910 --> 00:26:56.809 your due diligence, you can figure your way out. 00:26:58.690 --> 00:27:00.529 Retiring in the United States is really, really 00:27:00.529 --> 00:27:03.529 hard. It is. They keep pushing the bar further 00:27:03.529 --> 00:27:05.890 and further out each year. It gets harder and 00:27:05.890 --> 00:27:08.390 harder each year to obtain. That's why Mike and 00:27:08.390 --> 00:27:13.450 I harp on you. Start saving now. Get your IRAs, 00:27:13.450 --> 00:27:17.150 your stock portfolio, money in the bank, cash 00:27:17.150 --> 00:27:20.190 money in the bank. Maybe you want some tangibles 00:27:20.190 --> 00:27:22.650 like gold, silver, copper laying around. Start 00:27:22.650 --> 00:27:26.750 investing now because it takes an absorbent amount 00:27:26.750 --> 00:27:29.750 of time to get your asset portfolio built up. 00:27:30.569 --> 00:27:33.349 Yeah, you're 100%, right? Even if it's a little 00:27:33.349 --> 00:27:35.170 bit, you have to start planning it for the future. 00:27:35.569 --> 00:27:39.630 And if reselling does go away, we'll find something 00:27:39.630 --> 00:27:41.329 else. Every single person listening to this, 00:27:41.490 --> 00:27:44.250 you'll find your path, right? You'll find your 00:27:44.250 --> 00:27:46.509 way through it, whether that's another business, 00:27:46.609 --> 00:27:49.210 whether that's going to work. a job that isn't 00:27:49.210 --> 00:27:53.369 as miserable as CBS was or Macy's for me, you'll 00:27:53.369 --> 00:27:56.369 find a way because winners win and losers lose. 00:27:56.549 --> 00:27:58.150 I'm a firm believer if you're willing to put 00:27:58.150 --> 00:27:59.829 in the time, no matter what it is, you're going 00:27:59.829 --> 00:28:03.069 to get results. So whether that's working a job 00:28:03.069 --> 00:28:05.890 and showing up five days a week or whether that's 00:28:05.890 --> 00:28:07.809 starting another business from the ground up 00:28:07.809 --> 00:28:09.809 that you have no idea if it's going to work out. 00:28:10.220 --> 00:28:12.740 I do believe that the people that win are going 00:28:12.740 --> 00:28:14.359 to win and the people that lose are going to 00:28:14.359 --> 00:28:16.660 lose. And there's a clear distinctive difference 00:28:16.660 --> 00:28:18.200 between them because the people that are losing 00:28:18.200 --> 00:28:20.680 are always looking for a reason to blame everybody 00:28:20.680 --> 00:28:22.460 else around them instead of kind of just looking 00:28:22.460 --> 00:28:24.660 in the mirror and saying, here's exactly what 00:28:24.660 --> 00:28:27.019 I need to do to get to where I need to be. Instead 00:28:27.019 --> 00:28:29.380 of saying, well, Johnny controls where I'm going 00:28:29.380 --> 00:28:31.359 to be and what I'm going to do. And unfortunately, 00:28:31.400 --> 00:28:34.599 a lot of people think that, oh, there's a new 00:28:34.599 --> 00:28:37.039 president. It's the end of times or, oh, there's 00:28:37.039 --> 00:28:39.519 a new president. This is the greatest ever. it's 00:28:39.519 --> 00:28:42.380 got no the white house is not your house right 00:28:42.380 --> 00:28:44.740 so it's like you have to take care of yourself 00:28:44.740 --> 00:28:48.819 and don't let anything that doesn't directly 00:28:48.819 --> 00:28:51.799 correlate to you getting the job done have an 00:28:51.799 --> 00:28:54.099 influence on it right like sure i could sit here 00:28:54.099 --> 00:28:56.039 and johnny can tell me hey mike you're an idiot 00:28:56.039 --> 00:28:59.839 why did you buy 6 000 dvds the other day fine 00:29:01.170 --> 00:29:02.890 Cool, Johnny. Here, I'm going to give you a five 00:29:02.890 --> 00:29:05.369 second spiel. It's none of your damn business. 00:29:05.529 --> 00:29:08.029 And I'm going to go I'm going to go scan my DVDs 00:29:08.029 --> 00:29:10.369 and I'm going to send in my DVDs. And yeah, it's 00:29:10.369 --> 00:29:12.269 good to have people that you want to listen to 00:29:12.269 --> 00:29:14.250 in your life and kind of can give you direction 00:29:14.250 --> 00:29:16.630 if you need it. But at the end of the day, it 00:29:16.630 --> 00:29:18.210 all boils down to you. If you're not going to 00:29:18.210 --> 00:29:19.470 do it, you're not going to do it. If you're going 00:29:19.470 --> 00:29:20.990 to do it, you're going to do it. And I think 00:29:20.990 --> 00:29:23.910 it's hard to be the person that goes from. All 00:29:23.910 --> 00:29:26.609 right. I'm used to getting the job done to being 00:29:26.609 --> 00:29:28.390 the person that doesn't get the job done and 00:29:28.390 --> 00:29:30.569 vice versa. You're the person that never gets 00:29:30.569 --> 00:29:32.289 the job done to all of a sudden you're trying 00:29:32.289 --> 00:29:34.549 to transform into this person that always gets 00:29:34.549 --> 00:29:38.910 the job done. Yes. I'm going to say it. Work 00:29:38.910 --> 00:29:42.230 ethic has a long way to go with it. And I'm talking 00:29:42.230 --> 00:29:44.009 about hours when I say work ethic. It's just 00:29:44.009 --> 00:29:46.589 when you're clocking in, you put in your best 00:29:46.589 --> 00:29:48.769 work until you clock out. The hours don't matter 00:29:48.769 --> 00:29:50.980 there as long as it's quality work. When you 00:29:50.980 --> 00:29:53.599 do, in fact, work, that'll get you ahead in dividends. 00:29:53.799 --> 00:29:55.660 I mean, we talk about efficiencies and processes, 00:29:55.900 --> 00:29:58.039 but that's what I'm talking about right now with 00:29:58.039 --> 00:30:03.980 quality work whenever you do it. And I think 00:30:03.980 --> 00:30:07.740 people need to think on this topic, overall topic 00:30:07.740 --> 00:30:09.660 we're talking about is what's your exit plan? 00:30:10.339 --> 00:30:11.420 You're not going to be doing this when you're 00:30:11.420 --> 00:30:14.160 95 years old. Good for you if you lifted 95, 00:30:14.460 --> 00:30:17.779 by the way, but still. If you're that 95 year 00:30:17.779 --> 00:30:21.140 old guy in the nursing home with his laptop open 00:30:21.140 --> 00:30:23.759 and say, nurse, I need you to pack this order. 00:30:23.980 --> 00:30:28.960 Nurse, come pack my order. I think something 00:30:28.960 --> 00:30:32.180 went wrong along the way. You got to be doing 00:30:32.180 --> 00:30:36.220 that. Oh, that's funny. Yeah, you're right. You 00:30:36.220 --> 00:30:38.099 got to have an extra strategy and it doesn't 00:30:38.099 --> 00:30:40.420 have to be a lavish one. It doesn't have to be, 00:30:40.420 --> 00:30:43.259 you know, you're going to retire a trillionaire. 00:30:43.740 --> 00:30:45.940 Just do what's comfortable for you, right? That's 00:30:45.940 --> 00:30:47.779 what I tell everybody. Just get ahead while you 00:30:47.779 --> 00:30:50.359 can, because like Johnny said, we can't continue 00:30:50.359 --> 00:30:53.119 at our, I can't continue to fill the car up with 00:30:53.119 --> 00:30:55.220 books and unload the car full of books for the 00:30:55.220 --> 00:30:57.720 next, you know, 50 years of my life. Like it's, 00:30:57.720 --> 00:31:00.180 it's not feasible. No matter if I'm in the best 00:31:00.180 --> 00:31:02.680 shape of my life, when I'm 70 years old, 80 years 00:31:02.680 --> 00:31:05.230 old, like. It's not feasible. And at that point, 00:31:05.269 --> 00:31:07.869 should you have accumulated enough that you're 00:31:07.869 --> 00:31:10.210 no longer required to fill the car with books 00:31:10.210 --> 00:31:12.250 is my argument. But like Johnny said, you still 00:31:12.250 --> 00:31:14.309 want to stay active, right? Like, yeah, sure, 00:31:14.410 --> 00:31:18.069 right? Johnny already said he's moving to Mexico. 00:31:18.109 --> 00:31:20.730 He's printing books somewhere. I'm probably headed 00:31:20.730 --> 00:31:22.670 to the Philippines somewhere, right? I'm taking 00:31:22.670 --> 00:31:24.809 my money. We're out of here. You never hear from 00:31:24.809 --> 00:31:27.690 us again. But it's kind of cool to have the conversation 00:31:27.690 --> 00:31:29.450 around, well, if you can't resell, what are we 00:31:29.450 --> 00:31:31.450 going to do, right? Like, what's our plan? Are 00:31:31.450 --> 00:31:34.400 we going to get a job? I'm never going to work 00:31:34.400 --> 00:31:36.740 another retail job in my life. I'm going to put 00:31:36.740 --> 00:31:39.099 a personal guarantee. We can revisit this video 00:31:39.099 --> 00:31:42.240 in 50 years. You're not going to come help me 00:31:42.240 --> 00:31:45.259 run the bookshop, Mike? You got to give me some 00:31:45.259 --> 00:31:47.759 type. I'm not working in the store. I will never 00:31:47.759 --> 00:31:51.220 work retail again. There is no chance, no shot. 00:31:52.299 --> 00:31:55.140 What's one thing you would never do again that 00:31:55.140 --> 00:32:00.940 you have done? IT work. That's brutal. I've done 00:32:00.940 --> 00:32:03.440 IT work just because there's nobody in the company 00:32:03.440 --> 00:32:05.400 that was qualified, and I was kind of forced 00:32:05.400 --> 00:32:07.559 to do it. I didn't go to school for it. I had 00:32:07.559 --> 00:32:09.579 no desire for it. But it's something that landed 00:32:09.579 --> 00:32:11.660 in my lap as part of my job duties because I 00:32:11.660 --> 00:32:13.720 was technically the most technically inclined 00:32:13.720 --> 00:32:17.500 person to do it or tackle it. Should we have 00:32:17.500 --> 00:32:19.920 hired a real person? Yeah, but we wanted to save 00:32:19.920 --> 00:32:22.579 some pennies, so it fell on me. That's horrible 00:32:22.579 --> 00:32:25.519 work. Well. It's horrible if you don't like it. 00:32:25.539 --> 00:32:27.859 If you're into that, good for you. I'm not one 00:32:27.859 --> 00:32:30.079 of those people. Looking at the back end of a 00:32:30.079 --> 00:32:33.240 website, figuring out what's broken, and trying 00:32:33.240 --> 00:32:36.579 to troubleshoot, fix it for hours, eight hours, 00:32:36.859 --> 00:32:41.119 16 hours, overnight. Because if your website's 00:32:41.119 --> 00:32:42.599 down, you're making no money. I want to make 00:32:42.599 --> 00:32:44.460 money, so the website's got to go back up. Who's 00:32:44.460 --> 00:32:48.319 going to fix it? Me. That's rough. That is rough. 00:32:50.019 --> 00:32:54.190 Never again. I don't know. Like if I could be 00:32:54.190 --> 00:32:56.869 one, what's your, what would be a crazy dream? 00:32:56.950 --> 00:33:00.930 If I could pay you right now, say 250 K a year 00:33:00.930 --> 00:33:03.170 to do any job you wanted to in the universe, 00:33:03.269 --> 00:33:12.990 what would it be? I probably open up a game store 00:33:12.990 --> 00:33:17.049 with other nerds and do retail that way. I like 00:33:17.049 --> 00:33:19.349 games and stuff and playing and all that kind 00:33:19.349 --> 00:33:23.779 of, not, not video games. analog physical i i 00:33:23.779 --> 00:33:26.140 don't know for me man it's it's hard you kind 00:33:26.140 --> 00:33:27.480 of came up with that pretty quick i didn't have 00:33:27.480 --> 00:33:29.740 enough time to think about my my response to 00:33:29.740 --> 00:33:35.240 it i would have some type of uh maybe like a 00:33:35.240 --> 00:33:40.420 for -profit like uh i don't not cat breeding 00:33:40.420 --> 00:33:44.680 right i know i'm not in but like a cat adoption 00:33:44.680 --> 00:33:49.000 like kind of place people can go to and and uh 00:33:49.000 --> 00:33:52.480 adopt cats but somehow i would make 250k a year 00:33:52.480 --> 00:33:54.920 right like if i just had like a truck you're 00:33:54.920 --> 00:33:57.339 just giving me money you didn't say the business 00:33:57.339 --> 00:33:59.599 itself had to make money no no yeah it does it's 00:33:59.599 --> 00:34:01.740 just like a trust fund you get 250k a year you 00:34:01.740 --> 00:34:03.220 can do whatever the hell you do whatever i want 00:34:03.220 --> 00:34:05.359 yeah yeah yeah i just hang out with the cats 00:34:05.359 --> 00:34:07.640 all day with dev and every once in a while cat 00:34:07.640 --> 00:34:10.639 gets adopted and i take my 250k and live comfortably 00:34:10.639 --> 00:34:13.219 you got like one of those like inside soccer 00:34:13.219 --> 00:34:15.360 stadiums with like real grass for them to run 00:34:15.360 --> 00:34:17.889 around in Yeah, yeah, yeah, yeah. Just let them 00:34:17.889 --> 00:34:20.590 run wild. It's fun to have this conversation, 00:34:20.769 --> 00:34:23.610 man, because listen, I said it before, I'll say 00:34:23.610 --> 00:34:25.210 it again. I don't want to resell forever, dude. 00:34:27.110 --> 00:34:31.030 That's rough. I could see in some capacity, right? 00:34:31.150 --> 00:34:34.369 Like maybe part -time just so I can stay out 00:34:34.369 --> 00:34:36.849 there and see the cool items, right? At that 00:34:36.849 --> 00:34:39.670 point, I have a house. I'm well -invested into 00:34:39.670 --> 00:34:41.730 retirement. And maybe I have a small collection 00:34:41.730 --> 00:34:44.500 of things I think are cool, right? I could see 00:34:44.500 --> 00:34:47.679 that definitely being an option, but a full -time 00:34:47.679 --> 00:34:51.260 capacity for the next 30 years of my life reselling. 00:34:51.800 --> 00:34:54.079 I don't know, man. Like I make good money doing 00:34:54.079 --> 00:34:57.800 it and I enjoy doing it for the time being, but 00:34:57.800 --> 00:34:59.980 I just know the market's going to shift so much. 00:35:00.079 --> 00:35:01.880 I mean, we talk about it, how much things change 00:35:01.880 --> 00:35:05.139 from a day -to -day basis. So the idea that this 00:35:05.139 --> 00:35:09.500 business, I don't even know if reselling exists. 00:35:10.440 --> 00:35:12.820 A year, two years, three years, five years, 10 00:35:12.820 --> 00:35:15.000 years, and 30 years. By then, you should have 00:35:15.000 --> 00:35:16.699 enough money that you don't have to really depend 00:35:16.699 --> 00:35:19.719 on it as a full -time income. Right. I mean, 00:35:19.739 --> 00:35:22.500 just look at what happened. It was either one 00:35:22.500 --> 00:35:24.980 or two years ago. We all got this email. We're 00:35:24.980 --> 00:35:28.139 no longer taking books at Amazon. So they have 00:35:28.139 --> 00:35:31.920 a nuclear launch code. per category, I'm guessing, 00:35:32.159 --> 00:35:34.239 because the toy guys got it like seven years 00:35:34.239 --> 00:35:36.760 ago, of we don't want you to sell your product 00:35:36.760 --> 00:35:40.099 anymore. They're ready to terminate you. They're 00:35:40.099 --> 00:35:43.880 pre -planned to terminate you. They hired somebody 00:35:43.880 --> 00:35:47.679 to write those emails. They're ready to shut 00:35:47.679 --> 00:35:52.500 things down whenever they seem fit. That's the 00:35:52.500 --> 00:35:54.519 job I want. I want to be the guy that hits the 00:35:54.519 --> 00:35:58.980 big red button. Send the email. They're all fired. 00:35:59.819 --> 00:36:04.820 All of them. Everybody's gone. I don't want to 00:36:04.820 --> 00:36:07.820 hear or see nothing. Yeah, it is. It's crazy. 00:36:08.019 --> 00:36:09.900 We live in crazy times. Take advantage of this 00:36:09.900 --> 00:36:12.099 opportunity today. That is why we've done this 00:36:12.099 --> 00:36:14.699 podcast for two and a half years now is to get 00:36:14.699 --> 00:36:17.179 you off your butt, to make a little bit of money, 00:36:17.219 --> 00:36:19.840 to get you in a better situation in case you 00:36:19.840 --> 00:36:22.260 have to pivot, in case you no longer can resell 00:36:22.260 --> 00:36:24.360 or in case you just want to retire. You can do 00:36:24.360 --> 00:36:27.110 it. and not have to worry about all the stressors 00:36:27.110 --> 00:36:29.369 of life. Johnny, any final thoughts on this crazy 00:36:29.369 --> 00:36:31.369 world if we didn't have to resell what we would 00:36:31.369 --> 00:36:35.530 do? Yeah, I mean, be proactive in what we're 00:36:35.530 --> 00:36:37.829 talking about here. I encourage everybody listening 00:36:37.829 --> 00:36:41.769 just to pull out a notebook or a note card, or 00:36:41.769 --> 00:36:43.730 if you don't believe in the physical, pull out 00:36:43.730 --> 00:36:47.050 Microsoft Word or Notepad or something. Make 00:36:47.050 --> 00:36:54.610 a short list of what you want to do for... fun 00:36:54.610 --> 00:36:57.449 like we were talking about and what do you where 00:36:57.449 --> 00:36:59.329 do you want to end up like how do you want to 00:36:59.329 --> 00:37:03.110 retire like is it the forever home your last 00:37:03.110 --> 00:37:05.570 car kind of deal what does that look like and 00:37:05.570 --> 00:37:07.909 then add up all the billable numbers or like 00:37:07.909 --> 00:37:10.150 we just said if you want to open a tiki bar or 00:37:10.150 --> 00:37:17.030 a game store or a habitat for cats cat manatee 00:37:17.030 --> 00:37:21.030 kind of place um what is add up all those numbers 00:37:21.030 --> 00:37:23.190 what does it take to get there those are your 00:37:23.190 --> 00:37:25.940 end goals So focus on getting to your end goals. 00:37:26.079 --> 00:37:28.099 I think that's a good proactive task. And then 00:37:28.099 --> 00:37:31.059 you can visualize it and like, huh, I am not 00:37:31.059 --> 00:37:33.980 on track to achieve that. I need to get my ass 00:37:33.980 --> 00:37:37.239 in gear. Or you know what? I don't have to work 00:37:37.239 --> 00:37:39.820 as long as I thought. It's not so far off. Because 00:37:39.820 --> 00:37:41.760 if you've never done that exercise before, you 00:37:41.760 --> 00:37:43.179 don't know. You're just guessing. You may think 00:37:43.179 --> 00:37:45.760 it's a bajillion dollars, but it's only, oh, 00:37:45.880 --> 00:37:47.699 it's half a bajillion dollars. That's not so 00:37:47.699 --> 00:37:51.570 bad. I'm going to sell veggie dogs. I'm going 00:37:51.570 --> 00:37:53.809 to have a veggie dog stand somewhere in a third 00:37:53.809 --> 00:37:55.630 world country. I'm just going to tell people 00:37:55.630 --> 00:37:57.510 it's hot dogs. They won't even know that they're 00:37:57.510 --> 00:37:59.730 veggie dogs. And I'll be like, man, you got the 00:37:59.730 --> 00:38:01.210 best hot dogs. It tastes different though. They're 00:38:01.210 --> 00:38:03.539 going to know. They won't know, dude. I'll have 00:38:03.539 --> 00:38:06.780 like I'll even have like the veggie chili sauce. 00:38:06.900 --> 00:38:08.980 Right. So it's like the fake ground beef. Right. 00:38:09.039 --> 00:38:11.460 Like I'll have to I'll have everything and nobody 00:38:11.460 --> 00:38:14.199 will ever know. It'll be my little secret. I'll 00:38:14.199 --> 00:38:16.619 just be some. Listen, next time somebody's on 00:38:16.619 --> 00:38:18.500 vacation in one of these countries and you see 00:38:18.500 --> 00:38:21.559 a little guy, a little old guy selling hot dogs 00:38:21.559 --> 00:38:25.519 and quotation marks on the corner. Hey, just 00:38:25.519 --> 00:38:27.739 saying. Anything's a possibility. That's going 00:38:27.739 --> 00:38:29.760 to do it for this week's episode. We appreciate 00:38:29.760 --> 00:38:32.519 you listening or watching over on YouTube. Thanks 00:38:32.519 --> 00:38:34.519 for listening to another episode of the Reseller's 00:38:34.519 --> 00:38:37.159 Mindset Podcast. Today's full episode and all 00:38:37.159 --> 00:38:39.460 previous episodes are available to all YouTube 00:38:39.460 --> 00:38:41.940 members, along with the weekly Zoom call and 00:38:41.940 --> 00:38:44.820 private Discord. Head on over to youtube .com 00:38:44.820 --> 00:38:47.099 backslash to use book guy and consider joining 00:38:47.099 --> 00:38:48.739 for as little as $2 .99 a month.