WEBVTT 00:00:00.000 --> 00:00:02.200 Welcome back to another episode of the Reseller's 00:00:02.200 --> 00:00:04.599 Mindset Podcast. My name is Mike, also known 00:00:04.599 --> 00:00:06.599 as the Used Book Guy on YouTube, along with my 00:00:06.599 --> 00:00:08.640 friend and fellow full -time reseller, Johnny 00:00:08.640 --> 00:00:11.199 B. We help people start and grow their reselling 00:00:11.199 --> 00:00:13.619 businesses from the ground up. We also have a 00:00:13.619 --> 00:00:15.619 weekly Zoom call and private Discord for all 00:00:15.619 --> 00:00:18.500 YouTube members. Head on over to youtube .com 00:00:18.500 --> 00:00:20.859 backslash usebookguy to join the channel and 00:00:20.859 --> 00:00:23.480 gain access to the full -length podcast, Zoom 00:00:23.480 --> 00:00:26.160 call, and private Discord today. Let's get into 00:00:26.160 --> 00:00:28.399 this week's episode. What is up, everybody? Welcome 00:00:28.399 --> 00:00:30.379 to another episode of Reseller's Mindset Podcast. 00:00:30.519 --> 00:00:34.079 Mike sitting next to... Johnny, as always, this 00:00:34.079 --> 00:00:36.719 is his topic and it is a good one. I'm just going 00:00:36.719 --> 00:00:38.740 to say the topic and then he's going to, I don't 00:00:38.740 --> 00:00:40.939 know, make you all do a little bit of self -reflection 00:00:40.939 --> 00:00:45.119 here. Stop lying to yourself. Johnny, what are 00:00:45.119 --> 00:00:47.140 you lying to yourself about first before you 00:00:47.140 --> 00:00:49.200 start telling everybody else what they're lying 00:00:49.200 --> 00:00:51.899 to themselves about? Give me one thing you think 00:00:51.899 --> 00:00:55.299 you are lying to yourself about. um that i'm 00:00:55.299 --> 00:00:58.259 foolish that i don't need protection in the eventuality 00:00:58.259 --> 00:01:00.420 that amazon's gonna tell you to take a walk or 00:01:00.420 --> 00:01:03.600 change the rules so drastically i'm left holding 00:01:03.600 --> 00:01:06.159 the bag and like where's the extra money coming 00:01:06.159 --> 00:01:10.159 in from i got bills to pay man uh that dude that 00:01:10.159 --> 00:01:13.719 that's that's 100 right and i'm gonna give you 00:01:13.719 --> 00:01:17.500 know Something I think I'm almost in the same 00:01:17.500 --> 00:01:19.959 boat as you when it comes to that. But I accept 00:01:19.959 --> 00:01:22.079 the fact one day we won't be able to do what 00:01:22.079 --> 00:01:25.140 we do in the way that we do it on Amazon. And 00:01:25.140 --> 00:01:28.799 for me, like lying to myself is when you see 00:01:28.799 --> 00:01:32.040 other people or other business models and you 00:01:32.040 --> 00:01:35.340 think to yourself like, hey, I can do a million 00:01:35.340 --> 00:01:37.799 dollars a year, right? Like you see these numbers 00:01:37.799 --> 00:01:40.560 and I'll admit sometimes I get caught up and 00:01:40.560 --> 00:01:42.760 think like. Hey, I can do a million dollars doing 00:01:42.760 --> 00:01:45.459 this business. It's 100 % a lot. There's no way, 00:01:45.500 --> 00:01:47.959 shape, or form in the way I want to run things 00:01:47.959 --> 00:01:50.140 that I'll ever be that person. But there are 00:01:50.140 --> 00:01:52.340 days where I'm like, I'm going to be the million 00:01:52.340 --> 00:01:54.780 dollar seller. And it's like, no, you're not, 00:01:54.859 --> 00:01:56.939 Mike. Everybody else is just laughing at me behind 00:01:56.939 --> 00:01:59.200 the scenes. And I'm okay with that. But all right, 00:01:59.200 --> 00:02:01.640 go ahead, take us away. That's a very fair point. 00:02:01.799 --> 00:02:05.319 Doing a million top line revenue solo is extremely 00:02:05.319 --> 00:02:09.289 difficult in media. I think the closest I've 00:02:09.289 --> 00:02:12.250 ever seen was Jack. And that was just solely 00:02:12.250 --> 00:02:16.530 video games, solely FBA, cranking out 500 units 00:02:16.530 --> 00:02:21.870 a day by himself. But that took him time to build 00:02:21.870 --> 00:02:24.030 up. He's told his backstory. I've heard his backstory. 00:02:24.090 --> 00:02:25.270 I don't know if he's told it on this podcast 00:02:25.270 --> 00:02:27.330 before. We need to get Jack back on at some point. 00:02:27.449 --> 00:02:31.090 But anyway, and even then it was like 900 ,000 00:02:31.090 --> 00:02:35.310 or close to a million. And that was him working 00:02:35.310 --> 00:02:38.689 every single day. Either buying stuff or packing 00:02:38.689 --> 00:02:41.889 stuff. He doesn't like going out too much. He's 00:02:41.889 --> 00:02:43.629 talked about that publicly, so I don't mind saying 00:02:43.629 --> 00:02:47.889 that. That's just the grind to do that. But he's 00:02:47.889 --> 00:02:50.129 good with that. He likes that, except that I 00:02:50.129 --> 00:02:53.210 think he'll probably do over a million now, but 00:02:53.210 --> 00:02:57.349 he has people around to help him get him over 00:02:57.349 --> 00:02:59.889 that number. And he was so resistant to that 00:02:59.889 --> 00:03:05.870 for so long. He doesn't like people. I don't 00:03:05.870 --> 00:03:08.930 blame him. Especially when you're working out 00:03:08.930 --> 00:03:10.789 of your home. You want strangers in your home 00:03:10.789 --> 00:03:13.770 constantly. It becomes less of a home at that 00:03:13.770 --> 00:03:18.409 point, right? But yeah, back to the topic. Stop 00:03:18.409 --> 00:03:22.240 lying to yourself. You really got to take a hard 00:03:22.240 --> 00:03:24.080 look at your business like you're trying something. 00:03:24.259 --> 00:03:26.280 You aren't reaching your goals, whether that's 00:03:26.280 --> 00:03:30.419 a monthly or a yearly goal. OK, what do I need 00:03:30.419 --> 00:03:32.719 to change instead of trying to will this into 00:03:32.719 --> 00:03:35.240 existence because it's not working? I've had 00:03:35.240 --> 00:03:36.979 to do this at several points in my business. 00:03:37.080 --> 00:03:40.300 I'm still doing it. It's just what do I need 00:03:40.300 --> 00:03:43.860 to change to make my goals work? And that's a 00:03:43.860 --> 00:03:47.080 hard thing to do, not because we're stubborn. 00:03:47.780 --> 00:03:51.650 I think it's because. We don't analyze stuff 00:03:51.650 --> 00:03:55.550 in the capacity we need to as frequently as we 00:03:55.550 --> 00:03:57.669 need to. Like if we're looking at the numbers, 00:03:57.770 --> 00:03:59.729 okay, it's a low month. I'll make up for it next 00:03:59.729 --> 00:04:02.310 month. Or, hey, I'll just send in an extra box 00:04:02.310 --> 00:04:06.189 or two and then see what shakes. But if you're 00:04:06.189 --> 00:04:11.370 failing and you're gradually growing, that's 00:04:11.370 --> 00:04:14.490 okay. It's when you're failing and not gradually 00:04:14.490 --> 00:04:18.449 growing, that is not okay. So we constantly need 00:04:18.449 --> 00:04:20.290 to be looking at things, tweaking things, whether 00:04:20.290 --> 00:04:22.209 that's efficiencies, whether that's processes, 00:04:22.529 --> 00:04:25.269 whether that's the stuff we're sending in, which 00:04:25.269 --> 00:04:27.990 could be our scouting out. How are we repricing? 00:04:28.470 --> 00:04:31.170 How many listings are we slinging up a day on 00:04:31.170 --> 00:04:34.829 eBay or through a whatnot seller or Macari seller 00:04:34.829 --> 00:04:38.610 or whatever kind of seller? What are we doing 00:04:38.610 --> 00:04:40.750 in our business to help us achieve our goals? 00:04:41.129 --> 00:04:44.550 And whatever else that we're doing that's not 00:04:44.550 --> 00:04:46.990 helping us do that is honestly an absolute lie. 00:04:47.439 --> 00:04:49.259 And it could be you getting in your own way. 00:04:49.360 --> 00:04:52.720 You're lying to yourself. And you're stopping 00:04:52.720 --> 00:04:55.980 yourself from the true potential. It's the biggest 00:04:55.980 --> 00:04:59.040 lie in reselling. There's some book I see in 00:04:59.040 --> 00:05:00.720 all the stores. It's like the biggest lie ever 00:05:00.720 --> 00:05:03.360 told or something like that. And they should 00:05:03.360 --> 00:05:05.480 have one on reselling. The biggest lie in reselling 00:05:05.480 --> 00:05:09.560 is people's overall sales numbers. Everybody 00:05:09.560 --> 00:05:12.720 falls into this trap, especially new people. 00:05:12.800 --> 00:05:14.540 Like you see your sales, right? Like your last 00:05:14.540 --> 00:05:17.420 90 days on eBay. for your last seven days on 00:05:17.420 --> 00:05:22.199 Amazon. And people just assume that that number 00:05:22.199 --> 00:05:24.360 is what's going into their bank account. And 00:05:24.360 --> 00:05:28.779 it's not even close to the reality. And the majority 00:05:28.779 --> 00:05:31.800 of people that post about their numbers and boast 00:05:31.800 --> 00:05:33.920 about their numbers, that overall sales number 00:05:33.920 --> 00:05:36.740 doesn't mean diddly squad. And for the longest 00:05:36.740 --> 00:05:38.860 time, I was guilty of it. You know, first five 00:05:38.860 --> 00:05:41.100 years of me recently, oh, my sales, my sales. 00:05:41.240 --> 00:05:43.500 And at the end of the day, like if your money 00:05:43.500 --> 00:05:45.649 ain't going into your bank account. That number 00:05:45.649 --> 00:05:49.449 is absolutely worthless and pointless if your 00:05:49.449 --> 00:05:51.649 bank account isn't going up. But like you said, 00:05:51.750 --> 00:05:54.730 right, for some reason, the mentality that we 00:05:54.730 --> 00:05:59.050 have as resellers, we just like to do things 00:05:59.050 --> 00:06:02.470 to do them, not to have a monetary outcome, right? 00:06:02.550 --> 00:06:04.370 I'm not saying every single thing you need to 00:06:04.370 --> 00:06:07.029 do in life has to have a monetary outcome. But 00:06:07.029 --> 00:06:10.579 if you have a business. which we all are, you 00:06:10.579 --> 00:06:13.699 have to be focused on growing the bottom line 00:06:13.699 --> 00:06:17.579 and making money to pay bills, to take care of 00:06:17.579 --> 00:06:20.019 expenses. But in the realm of reselling, because 00:06:20.019 --> 00:06:22.540 a lot of us do it from home, there's real no 00:06:22.540 --> 00:06:25.339 overhead, right? Besides the money you waste 00:06:25.339 --> 00:06:27.839 on items that are never going to sell, you can 00:06:27.839 --> 00:06:30.060 just drag it on forever, right? Like you can 00:06:30.060 --> 00:06:33.290 literally have a... crappy dead in the water 00:06:33.290 --> 00:06:36.350 ebay or amazon business for the next 50 years 00:06:36.350 --> 00:06:38.550 of your life if you wanted to and it really wouldn't 00:06:38.550 --> 00:06:40.230 cost you that much money if you just did it all 00:06:40.230 --> 00:06:43.170 from home yeah and a lot of us make the excuse 00:06:43.170 --> 00:06:47.189 i'll just do it myself um instead of paying somebody 00:06:47.189 --> 00:06:49.889 to do some of these smaller tasks or cut out 00:06:49.889 --> 00:06:52.329 the smaller tasks that are unnecessary like because 00:06:52.329 --> 00:06:57.279 we devalue our own labor uh we really do And 00:06:57.279 --> 00:06:59.839 we'll do these trivial tasks like, hey, I'm going 00:06:59.839 --> 00:07:02.620 to spend three hours at the JFJ today. How much 00:07:02.620 --> 00:07:06.439 money are you really making doing that? Let's 00:07:06.439 --> 00:07:08.800 stack this on top. You're cleaning 999 discs 00:07:08.800 --> 00:07:13.819 for three hours straight. I mean, arguable, you'll 00:07:13.819 --> 00:07:16.560 make some dollars per hour, probably above a 00:07:16.560 --> 00:07:18.939 Starbucks employee. But then again, we're not 00:07:18.939 --> 00:07:21.060 doing this to make what a Starbucks employee 00:07:21.060 --> 00:07:23.300 or slightly above a Starbucks employee would. 00:07:23.459 --> 00:07:25.220 Hey, Starbucks, if you're listening, we'll take 00:07:25.220 --> 00:07:27.839 a sponsorship. Anyway, Johnny, well, I don't 00:07:27.839 --> 00:07:30.800 drink coffee, so you can just send him my batch 00:07:30.800 --> 00:07:33.779 and barrels of brewed coffee. I think you're 00:07:33.779 --> 00:07:35.879 right, though, because I think that's why I've 00:07:35.879 --> 00:07:37.920 seen like, all right, I'm not a big YouTuber 00:07:37.920 --> 00:07:40.839 by any means, but I think part of the appeal 00:07:40.839 --> 00:07:43.660 to my channel for the past few years was that 00:07:43.660 --> 00:07:46.339 I want to do as little as possible and make as 00:07:46.339 --> 00:07:49.600 much as I can. And, you know, in the eBay realm, 00:07:49.740 --> 00:07:52.339 you have to, you know, compared to Amazon, I 00:07:52.339 --> 00:07:55.079 say. openly all the time when you host the eBay 00:07:55.079 --> 00:07:57.060 calls. I'm like, the real workers are getting 00:07:57.060 --> 00:07:59.379 together tonight, right? Like us Amazon people 00:07:59.379 --> 00:08:01.100 were just sitting back doing nothing, watching 00:08:01.100 --> 00:08:03.959 Unsolved Mysteries. I think we get in this mindset 00:08:03.959 --> 00:08:07.579 of, okay, well, look at this. He's not working 00:08:07.579 --> 00:08:09.639 that much. I can make some money. You can make 00:08:09.639 --> 00:08:11.860 some money. But a lie that I was telling myself 00:08:11.860 --> 00:08:14.939 was, I can continue to be the two day a week 00:08:14.939 --> 00:08:18.759 person and do 250K in revenue, right? Like it's 00:08:18.759 --> 00:08:21.139 not feasible. So like this year I've been working. 00:08:21.660 --> 00:08:24.259 you know four days a week five days a week and 00:08:24.259 --> 00:08:26.819 i've seen the results already but it was a lot 00:08:26.819 --> 00:08:28.939 of telling myself a long time like okay if i 00:08:28.939 --> 00:08:31.720 just keep growing at this pace maybe in 10 years 00:08:31.720 --> 00:08:33.899 i possibly could get there but yet again like 00:08:33.899 --> 00:08:36.419 what we said in the beginning like amazon fba 00:08:36.419 --> 00:08:39.120 selling the junk we sell probably doesn't exist 00:08:39.120 --> 00:08:41.039 in 10 years right if i was a bet man that this 00:08:41.039 --> 00:08:44.080 is not going to exist in 10 years you gotta it 00:08:44.080 --> 00:08:47.519 takes hard work but the problem with the hard 00:08:47.519 --> 00:08:50.649 work lie that you tell yourself is i'm working 00:08:50.649 --> 00:08:53.149 i'm working i'm working it is not productive 00:08:53.149 --> 00:08:56.850 work so you literally are just wasting time but 00:08:56.850 --> 00:09:00.350 to yourself you think oh man i'm doing everything 00:09:00.350 --> 00:09:04.070 i can i'm i'm putting in 10 12 hour days well 00:09:04.070 --> 00:09:05.750 what are you actually doing because if you're 00:09:05.750 --> 00:09:08.850 productive working 10 hour days in reselling 00:09:08.850 --> 00:09:11.990 you should be filthy rich dude i don't care what 00:09:11.990 --> 00:09:14.269 anybody says if you're putting in 10 hours a 00:09:14.269 --> 00:09:17.340 day You should be bringing in well over 10K a 00:09:17.340 --> 00:09:20.340 month in bottom line profit to your bank account, 00:09:20.460 --> 00:09:22.919 if not more. So I see these people that are like, 00:09:22.960 --> 00:09:25.340 I'm putting in all these hours on eBay. I'm putting 00:09:25.340 --> 00:09:27.840 all these hours in on Amazon. I start tracing 00:09:27.840 --> 00:09:30.240 it back to all it comes back to always at the 00:09:30.240 --> 00:09:32.740 same time is what's the quality of stuff you're 00:09:32.740 --> 00:09:35.220 sourcing? Because you have all this junk that 00:09:35.220 --> 00:09:36.759 you're wasting time on. That's where all your 00:09:36.759 --> 00:09:38.580 time's going. So you're spending money to waste 00:09:38.580 --> 00:09:41.129 your own time. What's up, Amazon sellers? We 00:09:41.129 --> 00:09:43.149 wanted to take a second to talk about GoToLister, 00:09:43.210 --> 00:09:45.710 the software me and Johnny both use to list and 00:09:45.710 --> 00:09:48.009 manage our inventory and grow our businesses. 00:09:48.350 --> 00:09:50.669 With the fastest listing speeds out there and 00:09:50.669 --> 00:09:53.289 built -in profit analytics, it's a no -brainer. 00:09:53.710 --> 00:09:56.230 Easily and quickly have items available for sale 00:09:56.230 --> 00:09:59.149 using 2D barcodes and get more for your items 00:09:59.149 --> 00:10:01.710 with its built -in smart pricing. Make sure to 00:10:01.710 --> 00:10:04.049 check out the 30 -day free trial at gotolister 00:10:04.049 --> 00:10:06.970 .com backslash Mike or using the link in the 00:10:06.970 --> 00:10:10.769 description below. Pretty much. And speaking 00:10:10.769 --> 00:10:15.190 of that, I think a lot of people get stuck in 00:10:15.190 --> 00:10:17.330 just doing the motions. They've been doing it 00:10:17.330 --> 00:10:20.730 for, I don't know, a while, and they don't assign 00:10:20.730 --> 00:10:24.500 any time to think about their business. Major 00:10:24.500 --> 00:10:27.639 companies have weekly or daily meetings. You 00:10:27.639 --> 00:10:30.100 can at least have a once a month meeting with 00:10:30.100 --> 00:10:32.860 yourself and look at your business. Look, do 00:10:32.860 --> 00:10:35.879 the deep dive like I mentioned earlier. And OK, 00:10:36.039 --> 00:10:39.940 I'm spending a lot of time doing this task. What 00:10:39.940 --> 00:10:42.740 can I do to shorten up that time? Whether that's 00:10:42.740 --> 00:10:44.779 equipment, whether that's maybe bringing someone 00:10:44.779 --> 00:10:47.220 on board or you know what? Maybe it's just dropping 00:10:47.220 --> 00:10:51.539 whatever that silliness is altogether. And or 00:10:51.539 --> 00:10:53.159 OK, what's going to take me to the next level? 00:10:53.629 --> 00:10:55.769 What do I need to do? Let me look at my numbers. 00:10:55.809 --> 00:10:57.649 How many boxes am I sending in? How many eBay 00:10:57.649 --> 00:10:59.850 listings am I doing? What if I did an extra box? 00:11:00.029 --> 00:11:03.490 What if I did an extra five eBay listings? These 00:11:03.490 --> 00:11:07.250 kinds of questions, these what if questions and 00:11:07.250 --> 00:11:10.610 analyzing the results with historical data that 00:11:10.610 --> 00:11:13.210 you can only provide yourself, that's the key 00:11:13.210 --> 00:11:15.370 to your success because the only one that's going 00:11:15.370 --> 00:11:17.309 to make your business improve is your own damn 00:11:17.309 --> 00:11:23.399 self. I remember my first real like. solid summer 00:11:23.399 --> 00:11:26.100 of actually caring about my Amazon business and 00:11:26.100 --> 00:11:29.360 selling. And I still remember, and it still happens 00:11:29.360 --> 00:11:31.519 every single year, Johnny, the summer slowdown, 00:11:31.659 --> 00:11:34.120 right? Like it mainly happens on eBay. That's 00:11:34.120 --> 00:11:35.620 where I see, there's not, there's not really 00:11:35.620 --> 00:11:37.639 a lot of content creators in like the Amazon 00:11:37.639 --> 00:11:40.440 media space, right? So it's like, usually it's 00:11:40.440 --> 00:11:42.379 just all eBay sellers that kind of get filtered 00:11:42.379 --> 00:11:45.679 to me. And I think that is the biggest lie people 00:11:45.679 --> 00:11:47.899 tell themselves is, well, it's summer, dude. 00:11:48.220 --> 00:11:50.299 I'm not going to sell shit for the next three 00:11:50.299 --> 00:11:52.700 months. And I'm sitting here like, OK, my summer 00:11:52.700 --> 00:11:55.460 sales are like really solid, like I'm putting 00:11:55.460 --> 00:11:57.419 in the work. And I even think on the eBay side, 00:11:57.659 --> 00:11:59.879 you know, we've had tons of eBay sellers on here. 00:12:00.039 --> 00:12:02.679 You think in summer, all of a sudden their sales 00:12:02.679 --> 00:12:05.740 shut off. No, that is not the case. These people 00:12:05.740 --> 00:12:08.500 put in the work and that's why they get the sales 00:12:08.500 --> 00:12:10.200 in the summer. There are people that are like, 00:12:10.259 --> 00:12:12.679 well, it's summer. I guess, you know, this is 00:12:12.679 --> 00:12:15.240 this is it for three months. I'm like, no, that's 00:12:15.240 --> 00:12:17.960 so stupid. Like, just let's send in better quality 00:12:17.960 --> 00:12:20.559 stuff. It doesn't matter if it's. You think anybody 00:12:20.559 --> 00:12:23.720 cares if the iPhone is priced right in June versus 00:12:23.720 --> 00:12:27.779 January or November? And I know iPhones are like, 00:12:27.840 --> 00:12:29.919 ooh, really sought after. Well, no matter what 00:12:29.919 --> 00:12:32.740 category you're in, there is sought after items. 00:12:32.779 --> 00:12:35.159 Look at media, right? You got those, what books? 00:12:35.259 --> 00:12:36.659 What are the books called that are real sought 00:12:36.659 --> 00:12:40.019 after? I don't even know. Easton Press, Easton 00:12:40.019 --> 00:12:41.320 Press, right? Easton Press, there you go, yeah, 00:12:41.419 --> 00:12:44.559 yeah. eastern press so if summer's so slow for 00:12:44.559 --> 00:12:47.980 your business why not focus on sourcing eastern 00:12:47.980 --> 00:12:49.840 press yeah you might have to pay a little bit 00:12:49.840 --> 00:12:51.980 more but you know the stuff's going to sell i 00:12:51.980 --> 00:12:54.440 don't think there has there's no reason for slow 00:12:54.440 --> 00:12:56.960 season besides yourself that's that's the biggest 00:12:56.960 --> 00:12:58.440 lie here there's no reason you're going to be 00:12:58.440 --> 00:13:01.159 slow unless you don't do the work it's not because 00:13:01.159 --> 00:13:03.440 of the weather it's not because of the i mean 00:13:03.440 --> 00:13:05.620 you can relate it to everything right like oh 00:13:05.620 --> 00:13:08.919 man, we're in the recession world. Somebody says 00:13:08.919 --> 00:13:10.940 recession, this is the end of times. I'm like, 00:13:11.039 --> 00:13:13.980 okay, we've been in a recession. Look when the 00:13:13.980 --> 00:13:16.600 whole world was locked down, right? Like that's 00:13:16.600 --> 00:13:18.519 when resellers made the most money ever, right? 00:13:18.639 --> 00:13:21.460 Like, I don't know. It's tough for me because 00:13:21.460 --> 00:13:23.360 I have been working a little bit harder this 00:13:23.360 --> 00:13:25.700 year, but I still like the money I make. I'm 00:13:25.700 --> 00:13:27.639 not working that hard. Like thrifting is easy, 00:13:27.720 --> 00:13:29.960 right? Like it's boxing stuff up and sending 00:13:29.960 --> 00:13:32.690 off. It's really not that hard. And I think we 00:13:32.690 --> 00:13:34.690 just squander the opportunity with these lies. 00:13:34.750 --> 00:13:36.250 We tell ourselves like, oh, it's summer, slow 00:13:36.250 --> 00:13:38.149 down. So I'm not, I'm not going to do nothing 00:13:38.149 --> 00:13:39.450 in the summer. Well, I'm here to tell you, there's 00:13:39.450 --> 00:13:42.350 people in the group that work. We have teachers 00:13:42.350 --> 00:13:44.990 in the group. When it comes summertime, that's 00:13:44.990 --> 00:13:46.809 their three months to kind of build their business. 00:13:47.169 --> 00:13:50.250 And they bust their ass all summer long. When 00:13:50.250 --> 00:13:52.169 everybody else cries that it's summer, slow down. 00:13:52.350 --> 00:13:54.330 This person goes from working their full -time 00:13:54.330 --> 00:13:57.049 job as a teacher to I'm going to be in my business 00:13:57.049 --> 00:13:59.330 every single day. And I'm going to be able to. 00:13:59.679 --> 00:14:01.580 grow my business in three months so that it can 00:14:01.580 --> 00:14:04.059 carry me over the next nine months. It's crazy 00:14:04.059 --> 00:14:05.940 to me, man. That pisses me off because I know 00:14:05.940 --> 00:14:08.299 for a fact, summer slowdown is a lie. I don't 00:14:08.299 --> 00:14:10.179 care what anybody says. You can show me the facts. 00:14:10.460 --> 00:14:13.460 I don't care. If you have quality goods at good 00:14:13.460 --> 00:14:16.539 prices, ain't going to be no slowdown. Yeah, 00:14:16.559 --> 00:14:18.659 they work three months to do 12 months worth 00:14:18.659 --> 00:14:23.360 of work. It's impressive. Yeah, and like tech 00:14:23.360 --> 00:14:26.549 and sports, he'll do more than a week. or when 00:14:26.549 --> 00:14:28.210 he had his ebay store he'll do more than a week 00:14:28.210 --> 00:14:31.529 than a regular person does all year all year 00:14:31.529 --> 00:14:34.309 as far as their ebay listings will go it's ridiculous 00:14:34.309 --> 00:14:38.570 but uh back back to the point though um yeah 00:14:38.570 --> 00:14:41.269 i mean there's things you can do whether that's 00:14:41.269 --> 00:14:45.559 an inventory audit or That's an eBay term. It's 00:14:45.559 --> 00:14:47.240 like looking at your inventory, what's actually 00:14:47.240 --> 00:14:49.840 still listed because things magically get unlisted 00:14:49.840 --> 00:14:52.779 over an eBay land sometimes. It's not for sale 00:14:52.779 --> 00:14:54.980 if it's not for sale. I'm sorry to tell you this. 00:14:55.039 --> 00:14:57.340 So put it back up for sale. The only way to do 00:14:57.340 --> 00:14:59.200 that is to go through everything you own to figure 00:14:59.200 --> 00:15:00.919 that out. Yeah, dude. See, that's the problem, 00:15:00.980 --> 00:15:02.460 Johnny. You just hit it on the head, right? Like 00:15:02.460 --> 00:15:05.580 you want people to do not fun work in their business. 00:15:06.090 --> 00:15:07.730 It's a miserable job. You've already done the 00:15:07.730 --> 00:15:09.409 work for that. I don't want to touch it again. 00:15:09.669 --> 00:15:11.929 You are the fun destroyer, dude. You are the 00:15:11.929 --> 00:15:14.309 fun police. But it's so true, right? Because 00:15:14.309 --> 00:15:16.690 that's just one of the many things we should 00:15:16.690 --> 00:15:19.210 be doing. That's not exciting. Yeah, you got 00:15:19.210 --> 00:15:21.710 to go back to your inventory, see what's listed, 00:15:21.769 --> 00:15:24.269 see what's not listed. You got to have some kind 00:15:24.269 --> 00:15:28.090 of inventory system. Dude, that's not for me. 00:15:28.149 --> 00:15:31.509 That's why I do Amazon. Fair enough. I mean, 00:15:31.570 --> 00:15:34.399 okay, on the Amazon front. sit your butt down 00:15:34.399 --> 00:15:36.840 go through your inventory sort low to high or 00:15:36.840 --> 00:15:39.399 high to low what needs to go or what needs to 00:15:39.399 --> 00:15:42.639 get lowered or hey what needs to get liquidated 00:15:42.639 --> 00:15:45.940 destroyed or sent back to you audit your inventory 00:15:45.940 --> 00:15:48.379 you can do that on amazon um you should be doing 00:15:48.379 --> 00:15:50.600 that on amazon if you're not uh you need to schedule 00:15:50.600 --> 00:15:52.820 a one -on -one with this man over here and talk 00:15:52.820 --> 00:15:55.220 about that maybe he'll yell at you a little bit 00:15:55.220 --> 00:16:02.230 um but yeah it's Our business, there is some 00:16:02.230 --> 00:16:05.029 work required and then there's some work you 00:16:05.029 --> 00:16:07.389 should be doing. And those should be things I 00:16:07.389 --> 00:16:10.649 think is what's going to make or impact your 00:16:10.649 --> 00:16:14.509 bank account in such a way that you will feel 00:16:14.509 --> 00:16:16.470 justified once you get the money rolling back 00:16:16.470 --> 00:16:19.309 into it. The additional money, if you were just 00:16:19.309 --> 00:16:21.870 to skate by and just send boxes, maybe do once 00:16:21.870 --> 00:16:25.990 a year liquidation. uh never touching your repricer 00:16:25.990 --> 00:16:31.269 never touching your scouting software um you 00:16:31.269 --> 00:16:34.169 gotta constantly fiddling with it um and not 00:16:34.169 --> 00:16:36.409 so much to the point where you're micromanaging 00:16:36.409 --> 00:16:39.350 and you're talking oh i made an extra dollar 00:16:39.350 --> 00:16:42.590 this month no but an extra thousand an extra 00:16:42.590 --> 00:16:44.990 ten thousand because of a little bit of effort 00:16:44.990 --> 00:16:47.009 you put in either on a weekly or monthly basis 00:16:47.009 --> 00:16:49.830 i'd say that's well worth the time who doesn't 00:16:49.830 --> 00:16:51.830 want to make an extra thousand or ten thousand 00:16:51.830 --> 00:16:54.970 dollars a year Or maybe it's such a change, you 00:16:54.970 --> 00:16:58.029 went from a $10 ,000 business to a $100 ,000 00:16:58.029 --> 00:17:00.809 business. Good job, sir, ma 'am. You did some 00:17:00.809 --> 00:17:04.789 work. I got a great idea, all right? Just stay 00:17:04.789 --> 00:17:09.250 with me on this. It's crazy. So reselling platforms 00:17:09.250 --> 00:17:13.269 give a report card every month, we'll say, right? 00:17:13.390 --> 00:17:14.970 Because a month is a reasonable amount of time. 00:17:16.559 --> 00:17:18.900 So like when you're in school, they like rank 00:17:18.900 --> 00:17:21.980 you, right? Like I graduated top 3 % of my class, 00:17:22.039 --> 00:17:25.000 whatever, right? So every month we give out like 00:17:25.000 --> 00:17:27.519 a report card, you know, based on your listings, 00:17:27.640 --> 00:17:29.759 your sales, things. It takes all the metrics 00:17:29.759 --> 00:17:33.500 into consideration. And some people get left 00:17:33.500 --> 00:17:36.000 behind, Johnny, you know, right? Like some people, 00:17:36.019 --> 00:17:39.240 they get left behind. So maybe there's some kind 00:17:39.240 --> 00:17:42.400 of algorithm where we say, hey, the bottom 5 00:17:42.400 --> 00:17:46.220 % of sellers. You can't sell for the next month 00:17:46.220 --> 00:17:47.900 and then you can come back the month after and 00:17:47.900 --> 00:17:50.619 you can try again. Right. Like, but the problem 00:17:50.619 --> 00:17:53.740 with that is, dude, this whole podcast lying 00:17:53.740 --> 00:17:57.200 to yourself, you're your own boss. And at the 00:17:57.200 --> 00:17:59.180 end of the day, you can tell yourself anything. 00:17:59.240 --> 00:18:02.500 So even if that did exist. Right. Like and I 00:18:02.500 --> 00:18:05.400 get to see. Right. And Johnny gets like a C plus 00:18:05.400 --> 00:18:08.059 or like maybe I thought I did a lot of work and 00:18:08.059 --> 00:18:10.700 I get, you know, I get left behind. Right. You're 00:18:10.700 --> 00:18:13.519 just going to cry and moan that. Oh, it's they 00:18:13.519 --> 00:18:16.359 don't like me. They're shadow banning my account 00:18:16.359 --> 00:18:18.500 because at the end of the day, like it's so much 00:18:18.500 --> 00:18:20.500 easier to lie to yourself and make an excuse 00:18:20.500 --> 00:18:23.119 instead of sit down and just look at your numbers 00:18:23.119 --> 00:18:25.759 and say, what do I need to do to increase things? 00:18:25.880 --> 00:18:27.900 Right. Like and it's not even always increasing. 00:18:27.940 --> 00:18:29.859 We got so many part timers. I just want to maintain 00:18:29.859 --> 00:18:32.599 and make an extra thousand dollars a month. And 00:18:32.599 --> 00:18:34.420 there's nothing wrong with that. But it's the 00:18:34.420 --> 00:18:37.950 people that it's not even I don't think. I think 00:18:37.950 --> 00:18:40.170 part -timers are almost less guilty of this than 00:18:40.170 --> 00:18:42.650 the full -timers. No, because they got no time 00:18:42.650 --> 00:18:45.009 to spare. So every minute they pump in has to 00:18:45.009 --> 00:18:47.490 matter. Yeah, yeah. Because if not, then they 00:18:47.490 --> 00:18:49.390 just go away, right? Like the part -timers that 00:18:49.390 --> 00:18:51.549 have been around, they put in the work because 00:18:51.549 --> 00:18:53.490 if they don't, then they got no business because 00:18:53.490 --> 00:18:55.509 they don't have no time to spend as it is. I 00:18:55.509 --> 00:18:57.529 think it's the full -timers that are like, well, 00:18:57.789 --> 00:19:02.069 it rained a lot this month. So that's why I'm 00:19:02.069 --> 00:19:04.309 not selling my tank tops or shit like that, right? 00:19:04.390 --> 00:19:07.049 It's like... stop making excuses for yourself 00:19:07.049 --> 00:19:09.849 and stop if it don't work just it's okay to move 00:19:09.849 --> 00:19:11.529 on we just had the podcast where we talked about 00:19:11.529 --> 00:19:13.509 what we would do if we couldn't resell anymore 00:19:13.509 --> 00:19:15.789 like it's okay to move on to something and if 00:19:15.789 --> 00:19:17.789 you don't enjoy what you what you're doing then 00:19:17.789 --> 00:19:19.789 don't do it right if you're miserable reselling 00:19:19.789 --> 00:19:22.109 and you're not getting results don't continue 00:19:22.109 --> 00:19:24.309 to drag something along just just tell yourself 00:19:24.309 --> 00:19:27.369 hey i tried it i gave it a shot i gave this side 00:19:27.369 --> 00:19:29.390 hustle a shot it didn't work out there's a million 00:19:29.390 --> 00:19:32.210 and one side hustles you can do right absolutely 00:19:32.210 --> 00:19:36.839 i mean even even what we're doing okay i mean 00:19:36.839 --> 00:19:38.519 we're talking about summer slowdown but how about 00:19:38.519 --> 00:19:41.339 some extra income when your category sales are 00:19:41.339 --> 00:19:43.720 slow out on a different category add in some 00:19:43.720 --> 00:19:47.900 disc media add in some video games um if you're 00:19:47.900 --> 00:19:50.440 and maybe even magazines we don't talk about 00:19:50.440 --> 00:19:53.039 magazines a lot but they're a form of media um 00:19:53.039 --> 00:19:55.240 even though mike's talked about cassettes from 00:19:55.240 --> 00:19:57.420 time to time those things you've been ignoring 00:19:57.420 --> 00:19:59.059 they're in the same places you're going to go 00:19:59.059 --> 00:20:01.920 sourcing why don't you try scooping those up 00:20:02.519 --> 00:20:05.019 Because they're in the same place. I mean, yeah, 00:20:05.059 --> 00:20:07.700 you just finished the racks upon racks of bookshelves, 00:20:07.759 --> 00:20:10.740 but hey, hit the cassette rack, hit the CD rack, 00:20:10.839 --> 00:20:13.640 hit the DVD rack, hit the one video game that's 00:20:13.640 --> 00:20:15.200 on its shelf by its lonesome because everybody 00:20:15.200 --> 00:20:18.680 else took them. Check these things out. Add in, 00:20:18.779 --> 00:20:22.980 sprinkle in some extra things. Or, hey, I'm FBA 00:20:22.980 --> 00:20:25.819 only. Maybe you should consider some FBM stuff 00:20:25.819 --> 00:20:29.259 because, yeah, it failed for FBA, but it's the 00:20:29.259 --> 00:20:32.259 same margin. On FBA, you just got to pack it. 00:20:32.339 --> 00:20:34.119 Or maybe you do a dollar more to make up for 00:20:34.119 --> 00:20:39.039 your packing and pulling and shipping time. There 00:20:39.039 --> 00:20:41.920 are ways. There's so many ways to make money 00:20:41.920 --> 00:20:44.579 in this business. The excuse of I can't find 00:20:44.579 --> 00:20:49.079 inventory. I'm sorry. No, I'm unapologetic. I 00:20:49.079 --> 00:20:53.700 retract my sorry. Damn reasons to make money. 00:20:53.740 --> 00:20:56.740 You should make money. The inventory doesn't 00:20:56.740 --> 00:20:59.220 exist is not an excuse in my book. I'm sorry. 00:20:59.319 --> 00:21:02.720 It's not. And I'm going to say it's a bit harder 00:21:02.720 --> 00:21:05.200 for you people that may be in, I don't know, 00:21:05.279 --> 00:21:08.380 Nome, Alaska, but the people in Nome, Alaska 00:21:08.380 --> 00:21:10.480 still find a way to fucking source. I'm sorry. 00:21:11.019 --> 00:21:12.339 Yeah, I mean, at the end of the day, you need 00:21:12.339 --> 00:21:14.500 to make money. And I think what it comes down 00:21:14.500 --> 00:21:18.380 to, Johnny, is the expectation of ROI, right? 00:21:18.440 --> 00:21:21.460 Like the expectation of if I spend a dollar, 00:21:21.579 --> 00:21:27.019 I got to make $10. You got to spend money to 00:21:27.019 --> 00:21:28.619 make money. I'm going to be straight up with 00:21:28.619 --> 00:21:31.059 everybody. Sure, you can scale a business buying 00:21:31.059 --> 00:21:34.099 items for a dollar that you're making $5 on. 00:21:34.339 --> 00:21:36.539 But at some point, there's going to be an opportunity 00:21:36.539 --> 00:21:38.700 where you can spend more money to make more money. 00:21:38.880 --> 00:21:42.480 And you have to be ready for it because, yeah, 00:21:42.579 --> 00:21:44.440 not everything's going to cost a dollar. And 00:21:44.440 --> 00:21:46.319 not everything's going to make you $10 on the 00:21:46.319 --> 00:21:48.240 dollar you spend. I'll tell you right now, if 00:21:48.240 --> 00:21:52.839 I buy, you know, a DVD and it costs me. five 00:21:52.839 --> 00:21:54.859 bucks and it's going to sell within a week and 00:21:54.859 --> 00:21:56.759 I'm only going to make four bucks, I'll buy this 00:21:56.759 --> 00:21:59.480 every single time. We have the data in front 00:21:59.480 --> 00:22:01.680 of us to make decisions, whether that's eBay 00:22:01.680 --> 00:22:03.740 or Amazon. You can see the sell -through. You 00:22:03.740 --> 00:22:05.759 can see how many are listed versus how many sold. 00:22:06.059 --> 00:22:09.519 The same exact thing exists on Amazon. And it 00:22:09.519 --> 00:22:12.059 might cost more money, but you have to accept 00:22:12.059 --> 00:22:14.420 the fact that not everything's going to be free. 00:22:14.559 --> 00:22:16.619 Not everything's going to be garage sale prices. 00:22:17.359 --> 00:22:21.180 And how many people go into a place and they 00:22:21.180 --> 00:22:23.769 see an item, You know, that's like a DVD that's 00:22:23.769 --> 00:22:26.569 new sealed for $25 and you can make 50 bucks 00:22:26.569 --> 00:22:29.309 on it. And they won't touch it just because that 00:22:29.309 --> 00:22:32.329 initial price tag is like, oh my God, I got to 00:22:32.329 --> 00:22:35.349 spend $25. I'll never get it because we are reselling. 00:22:35.430 --> 00:22:38.069 We have the highest margins in the universe in 00:22:38.069 --> 00:22:40.470 these categories, but we're not willing to spend 00:22:40.470 --> 00:22:42.509 a little bit of money. But somehow we always 00:22:42.509 --> 00:22:44.710 wind up chasing our tail when it comes to having 00:22:44.710 --> 00:22:47.549 a dollar in our bank account for when the sky's 00:22:47.549 --> 00:22:49.490 falling like it just did on Amazon last month. 00:22:49.670 --> 00:22:52.460 Oh my God, what am I going to do? well where's 00:22:52.460 --> 00:22:54.799 the money been going for the past year that you've 00:22:54.799 --> 00:22:56.859 been doing this business right i know we have 00:22:56.859 --> 00:22:59.200 expenses but if you're operating a business it 00:22:59.200 --> 00:23:01.259 should be profitable to some degree so you should 00:23:01.259 --> 00:23:03.140 have some type of retained earnings somewhere 00:23:03.140 --> 00:23:06.500 along the line because when it rains it pours 00:23:06.500 --> 00:23:08.460 whether that's life whether that's business the 00:23:08.460 --> 00:23:10.599 shit hits the fan it hits the fan we all know 00:23:10.599 --> 00:23:12.240 this we've all been alive for long enough to 00:23:12.240 --> 00:23:14.940 know this as adults so I mean, where's it going? 00:23:15.079 --> 00:23:16.460 I don't know. It's a lie to ourselves. We just 00:23:16.460 --> 00:23:18.579 spend everything we get, and we're so scared 00:23:18.579 --> 00:23:20.740 to spend more than a dollar on a damn item. It 00:23:20.740 --> 00:23:25.079 drives me crazy. Right. I mean, I went to Goodwill 00:23:25.079 --> 00:23:27.839 a couple days ago, first time in like a couple 00:23:27.839 --> 00:23:31.819 years, and everything there was $1 to $1 .99 00:23:31.819 --> 00:23:35.440 in book land. And I was like, huh. I don't even 00:23:35.440 --> 00:23:36.759 know how much I'm going to pay at the checkout, 00:23:36.920 --> 00:23:39.539 but it was fine. It ended up being like $500 00:23:39.539 --> 00:23:43.220 in profit. I spent 70. I got like 40 some odd 00:23:43.220 --> 00:23:46.940 books. That's fine. I'll spend 70 to 500 all 00:23:46.940 --> 00:23:50.119 day. It's not the end of the world. Would I spend 00:23:50.119 --> 00:23:53.559 500 to make 500? No, because I'm just spinning 00:23:53.559 --> 00:23:57.380 my wheels making nothing. But yeah, I thought 00:23:57.380 --> 00:23:59.079 that was a little extreme because that's about 00:23:59.079 --> 00:24:00.920 double what I was used to paying back when I 00:24:00.920 --> 00:24:04.589 used to do that. Double in, like, less than two 00:24:04.589 --> 00:24:07.950 years. Or two years and change, I guess. This 00:24:07.950 --> 00:24:12.349 is silly. And to the numbers part, if you know 00:24:12.349 --> 00:24:17.990 you're bad at numbers, well, we have this thing 00:24:17.990 --> 00:24:20.789 called the internet. And the thing you suck at, 00:24:20.930 --> 00:24:23.529 you can Google. If you don't know what it's called, 00:24:23.849 --> 00:24:26.750 usually going down the rabbit hole of Google, 00:24:26.890 --> 00:24:28.950 you'll eventually figure out what that's called. 00:24:29.029 --> 00:24:31.519 And then you can do a smarter search. a more 00:24:31.519 --> 00:24:34.259 accurate search to then start educating yourself. 00:24:34.940 --> 00:24:37.480 Again, it goes into the self -reflection of your 00:24:37.480 --> 00:24:39.559 business and what's working, what's not working. 00:24:39.819 --> 00:24:44.099 It could be you, just because you're untrained 00:24:44.099 --> 00:24:46.059 in what these things are. You didn't go to business 00:24:46.059 --> 00:24:49.380 school, but you're now a businessman or businesswoman, 00:24:49.500 --> 00:24:52.279 and it's time to act like one. And you know what? 00:24:52.720 --> 00:24:54.980 Those people educate themselves on what they 00:24:54.980 --> 00:24:57.339 don't know that pertains to their business. If 00:24:57.339 --> 00:24:59.519 you don't know what the terms top and bottom 00:24:59.519 --> 00:25:02.200 line are, you probably need to do a Google search 00:25:02.200 --> 00:25:04.099 on that. Or what's the difference between revenue 00:25:04.099 --> 00:25:07.359 and net? These bare bone basic things are things 00:25:07.359 --> 00:25:09.619 everyone should know. Even a part -time person 00:25:09.619 --> 00:25:12.839 should know. And if you don't know, that's okay. 00:25:13.119 --> 00:25:15.539 But ignorance is not an excuse. Go out and educate 00:25:15.539 --> 00:25:18.220 yourself. Whether that's the internet, hell, 00:25:18.380 --> 00:25:20.539 maybe take a couple community business school 00:25:20.539 --> 00:25:23.839 college classes. That's going the extra mile, 00:25:23.900 --> 00:25:25.700 in my opinion, but I'll give you a hand clap 00:25:25.700 --> 00:25:30.640 for doing that. Or ask a friend. If you're in 00:25:30.640 --> 00:25:33.740 this group, we'll call them business acquaintances 00:25:33.740 --> 00:25:36.339 instead of friends. So ask your business acquaintance 00:25:36.339 --> 00:25:39.539 what this term means. And for people who don't 00:25:39.539 --> 00:25:41.519 want to look foolish or embarrassed because they 00:25:41.519 --> 00:25:44.259 don't know, I get it. It's going to be hard. 00:25:44.299 --> 00:25:46.279 It's going to be rougher. But no one's going 00:25:46.279 --> 00:25:48.680 to think less of you, honestly, for asking the 00:25:48.680 --> 00:25:52.789 simple question. I would rather you know than 00:25:52.789 --> 00:25:55.789 not know. Don't stay silent on the things you 00:25:55.789 --> 00:25:59.289 don't know. Maybe if you're that kind of person, 00:25:59.329 --> 00:26:00.869 maybe you do need to schedule a one -on -one 00:26:00.869 --> 00:26:03.630 or send a private message to somebody you trust 00:26:03.630 --> 00:26:07.170 in the group or reach out some way, somehow, 00:26:07.390 --> 00:26:11.609 if you're just stumbling on yourself and your 00:26:11.609 --> 00:26:14.069 business and you want to improve, but you're 00:26:14.069 --> 00:26:17.309 scared. It's okay to be scared, but go forward. 00:26:17.430 --> 00:26:20.650 Plow through the fear, honestly. It's tough. 00:26:20.730 --> 00:26:23.430 I get it, but do it. Yeah, you're right. And 00:26:23.430 --> 00:26:27.289 it gets me to bring up the idea that I think 00:26:27.289 --> 00:26:30.549 reselling has this cool factor to it. And it's 00:26:30.549 --> 00:26:33.490 almost like, you know, you become part of like 00:26:33.490 --> 00:26:36.170 this cool club, right? And it's like, I've, you 00:26:36.170 --> 00:26:37.769 know, I've said it before and I'll say it again. 00:26:37.849 --> 00:26:40.910 Like I pride myself on the group not being, you 00:26:40.910 --> 00:26:44.079 know. Book aficionados or people knowledgeable 00:26:44.079 --> 00:26:46.460 about books. I pride myself on the group people 00:26:46.460 --> 00:26:49.980 actually having profitable businesses and our 00:26:49.980 --> 00:26:52.980 choice of, you know, goods to sell just happens 00:26:52.980 --> 00:26:56.039 to be media. But I do think a lot of it out there. 00:26:56.099 --> 00:26:59.240 It's hard because all you see is the flashy stuff, 00:26:59.359 --> 00:27:02.140 you know, for the most part on social media. 00:27:02.460 --> 00:27:04.480 No one's going to show you going back to the 00:27:04.480 --> 00:27:07.079 inventory and finding items that were delisted 00:27:07.079 --> 00:27:09.799 or, you know, items that were never listed, things 00:27:09.799 --> 00:27:12.150 like that, because. That's not going to get anybody, 00:27:12.349 --> 00:27:15.369 you know, content pushed out there into the universe. 00:27:15.769 --> 00:27:19.970 So it's almost the way it's set up for a brand 00:27:19.970 --> 00:27:22.769 new reseller to discover reselling and start 00:27:22.769 --> 00:27:25.589 their business is almost like the ultimate trap 00:27:25.589 --> 00:27:28.890 of starting a business. And anybody can start 00:27:28.890 --> 00:27:30.970 reselling, right? No matter what category it 00:27:30.970 --> 00:27:33.349 is, basically, you can get out there and start 00:27:33.349 --> 00:27:36.130 your business today. And you can have zero knowledge, 00:27:36.190 --> 00:27:38.029 like Johnny said. And there's nothing wrong with 00:27:38.029 --> 00:27:39.890 starting out brand new and not knowing nothing. 00:27:40.490 --> 00:27:42.369 But at some point, you have to start to educate 00:27:42.369 --> 00:27:45.609 yourself a little bit about the inners and outers 00:27:45.609 --> 00:27:48.029 of how a business works and what does, you know, 00:27:48.049 --> 00:27:51.150 what does a normal business look like? And luckily 00:27:51.150 --> 00:27:54.089 for me, luckily, right, I was graced with the 00:27:54.089 --> 00:27:56.390 opportunity to work at CBS for 10 years as a 00:27:56.390 --> 00:28:00.269 store manager. And, you know, I talked about 00:28:00.269 --> 00:28:02.990 report cards earlier. We had scorecards, Johnny. 00:28:03.109 --> 00:28:05.869 And if your scorecard was down, you needed to 00:28:05.869 --> 00:28:07.990 fix that shit yesterday or you're going to have, 00:28:08.009 --> 00:28:10.849 you know, write ups and things like that. And, 00:28:10.849 --> 00:28:13.690 you know, I understood we had our monthly P &Ls 00:28:13.690 --> 00:28:16.109 that printed out. We had to go over. So you kind 00:28:16.109 --> 00:28:18.130 of understand the four walls of the business, 00:28:18.170 --> 00:28:21.670 things like that. But the average person, it's 00:28:21.670 --> 00:28:24.769 tough because that information in the resale 00:28:24.769 --> 00:28:27.970 space does not exist. Who talks about it? You're 00:28:27.970 --> 00:28:30.609 the only one, tech's the only one that mentions 00:28:30.609 --> 00:28:33.579 it. Real numbers, right? Real numbers. Like not 00:28:33.579 --> 00:28:35.480 just sales numbers. Like I'm going to record 00:28:35.480 --> 00:28:37.259 a video today that's going to be real numbers, 00:28:37.480 --> 00:28:39.440 right? Yeah, I'll talk about my sales. But more 00:28:39.440 --> 00:28:40.940 importantly, in the video, I'm going to talk 00:28:40.940 --> 00:28:43.579 about what is actually coming back to the bank 00:28:43.579 --> 00:28:46.279 account after I pay for the items. After all 00:28:46.279 --> 00:28:49.759 these expenses are covered, that is, that's what 00:28:49.759 --> 00:28:52.740 matters. Nothing else matters. Your bank account 00:28:52.740 --> 00:28:55.299 has to be going on. Unless you are a hobby person, 00:28:55.500 --> 00:28:57.859 then none of this is for you. If you don't give 00:28:57.859 --> 00:28:59.500 a shit whether you make money or lose money. 00:28:59.930 --> 00:29:03.130 But for everybody else with the majority of resellers, 00:29:03.329 --> 00:29:06.710 you got to just say, hey, if it ain't working, 00:29:06.890 --> 00:29:09.970 most of the times, if not all, I won't say all 00:29:09.970 --> 00:29:11.809 the times because there are some things that 00:29:11.809 --> 00:29:15.069 happen. Most of the time when it ain't working 00:29:15.069 --> 00:29:17.829 and reselling, guess what? Last time I looked, 00:29:17.970 --> 00:29:21.890 I got one employee. And there ain't no one else 00:29:21.890 --> 00:29:25.450 to blame when things go belly up. That everything's 00:29:25.450 --> 00:29:27.710 in my control. How much I source, how much I 00:29:27.710 --> 00:29:31.039 send, how much I spend. how much I make. I am 00:29:31.039 --> 00:29:33.940 the only guy that can control this outcome. Nobody, 00:29:34.180 --> 00:29:37.480 nobody, nobody. It's not the summer. It's not 00:29:37.480 --> 00:29:40.279 the fall. It's not the president. It's not the 00:29:40.279 --> 00:29:42.660 oncoming war. It's not the comment that's going 00:29:42.660 --> 00:29:45.460 to hit the earth in 2030. It's none of that. 00:29:45.480 --> 00:29:48.460 It's what you do. But for some reason, it's, 00:29:48.460 --> 00:29:51.460 I mean, I'm not going to, hey, Mike, you suck, 00:29:51.579 --> 00:29:53.619 right? Like that's the reality of it, right? 00:29:53.640 --> 00:29:54.960 When you get to a point in your business where 00:29:54.960 --> 00:29:57.019 you're not getting results, you're like, well, 00:29:57.099 --> 00:30:00.859 if I'm the only person. Then I must suck, Johnny. 00:30:00.940 --> 00:30:03.460 Right. And I've I've been there. I've had months. 00:30:03.539 --> 00:30:05.059 I've had weeks where I'm not making the money 00:30:05.059 --> 00:30:07.680 I'm making. I'm like, damn, dude, like what's 00:30:07.680 --> 00:30:09.480 going on? You ain't selling nothing. Right. Like 00:30:09.480 --> 00:30:11.799 you got to like something's got to change here, 00:30:11.839 --> 00:30:13.599 boy, because you're not making no money. And 00:30:13.599 --> 00:30:16.420 then, yeah, that's my fault. Maybe I slacked 00:30:16.420 --> 00:30:19.640 off and it happens. There's there's weeks life 00:30:19.640 --> 00:30:21.720 happens. There's weeks where you just you're 00:30:21.720 --> 00:30:23.579 not feeling up to it. Your mental health is not 00:30:23.579 --> 00:30:26.730 there. You can't go out this week. uh and you 00:30:26.730 --> 00:30:28.589 just kind of sit around and take a little bit 00:30:28.589 --> 00:30:31.190 of time to yourself and you know two weeks three 00:30:31.190 --> 00:30:33.210 weeks from then you see the results of you taking 00:30:33.210 --> 00:30:35.529 that week off that's okay that's okay like you 00:30:35.529 --> 00:30:37.410 need time for yourself you can't always be going 00:30:37.410 --> 00:30:40.609 but that's a choice you make so there's there's 00:30:40.609 --> 00:30:42.509 nothing else that can be responsible for it you 00:30:42.509 --> 00:30:44.670 accept the fact hey i'm going on vacation this 00:30:44.670 --> 00:30:47.710 week you accept that you move on with it that's 00:30:47.710 --> 00:30:51.329 all there is to it you're probably not or maybe 00:30:51.329 --> 00:30:54.180 you do remember this but back when i first joined 00:30:54.180 --> 00:30:56.000 your group or right when i was about thinking 00:30:56.000 --> 00:30:57.619 about joining your group because i was looking 00:30:57.619 --> 00:31:00.599 for a decent content provider and or group to 00:31:00.599 --> 00:31:02.200 join at that time because i was trying to jump 00:31:02.200 --> 00:31:05.019 into amazon there weren't a lot of great people 00:31:05.019 --> 00:31:08.140 around then there's a few now but back then there 00:31:08.140 --> 00:31:12.599 wasn't very many you did a video of a full year 00:31:12.599 --> 00:31:16.299 breakdown showing both gross and net and your 00:31:16.299 --> 00:31:19.359 expenses. It was like an hour long. And I guarantee 00:31:19.359 --> 00:31:22.400 you, it got like 10 views because it was boring 00:31:22.400 --> 00:31:25.980 as shit, but it was accurate. It was honest. 00:31:26.019 --> 00:31:28.599 And okay, this guy knows what the hell he's talking 00:31:28.599 --> 00:31:32.319 about. He ain't just showing his top line sales 00:31:32.319 --> 00:31:35.259 numbers, which means dick. It means absolutely 00:31:35.259 --> 00:31:37.819 nothing. But you were doing a full breakdown, 00:31:37.980 --> 00:31:41.880 all the expenses. um what was actually going 00:31:41.880 --> 00:31:44.599 in your bank account and it gave me okay now 00:31:44.599 --> 00:31:46.799 i know what's possible because i got an honest 00:31:46.799 --> 00:31:50.319 guy over here fully breaking it down if you aren't 00:31:50.319 --> 00:31:53.000 able to fully break your down your business in 00:31:53.000 --> 00:31:55.480 an hour or i don't know how long it took you 00:31:55.480 --> 00:31:56.900 to shoot that video i figured if it was a live 00:31:56.900 --> 00:31:59.160 one or not but if you're unable to break it down 00:31:59.160 --> 00:32:03.180 like that you need to go back to the drawing 00:32:03.180 --> 00:32:06.460 board and figure out how to do that um because 00:32:06.460 --> 00:32:09.210 that's the only way You know, if you're making 00:32:09.210 --> 00:32:13.210 any money, you're losing money or, hey, I need 00:32:13.210 --> 00:32:16.190 to step up my game. I'm not making as much money 00:32:16.190 --> 00:32:19.849 as I thought. Oh, man, you're going to get me 00:32:19.849 --> 00:32:23.029 all fired up here because there's there's one 00:32:23.029 --> 00:32:25.230 type of reseller that I'll never trust in the 00:32:25.230 --> 00:32:28.430 content creation space. And it's the person that 00:32:28.430 --> 00:32:30.809 never talks about their bottom line. And before 00:32:30.809 --> 00:32:33.910 all of you nerds come out here and say, well, 00:32:34.049 --> 00:32:37.599 dude. That's his private money. He don't need 00:32:37.599 --> 00:32:39.720 to know. Well, then he don't need to be creating 00:32:39.720 --> 00:32:42.099 content, selling lies to people about overall 00:32:42.099 --> 00:32:44.920 sales number and not exactly how much money he's 00:32:44.920 --> 00:32:46.880 making. I don't care who that is, who that applies 00:32:46.880 --> 00:32:49.660 to. Get them out of my timeline. I don't want 00:32:49.660 --> 00:32:51.279 to be a part of them. I don't want to be friends 00:32:51.279 --> 00:32:53.880 with them. I don't want to be subscribed to their 00:32:53.880 --> 00:32:56.099 channel regardless because it means absolutely 00:32:56.099 --> 00:32:58.859 nothing. You choose to create content. then you 00:32:58.859 --> 00:33:00.779 create all the content. You don't half -ass it 00:33:00.779 --> 00:33:02.720 and act like, sure, does it work, right? Like 00:33:02.720 --> 00:33:05.180 the video I'm going to record today, the clickbait 00:33:05.180 --> 00:33:08.019 title is going to be how I sold X amount of dollars 00:33:08.019 --> 00:33:11.220 within this certain timeframe. But within that 00:33:11.220 --> 00:33:13.859 video, it's going to be, okay, I sold this. Well, 00:33:13.880 --> 00:33:16.519 here's how much I actually got paid. Well, let's 00:33:16.519 --> 00:33:18.539 see how many items I sold. How much did I pay 00:33:18.539 --> 00:33:20.819 per item? Well, here's actually how much I made 00:33:20.819 --> 00:33:24.259 after my buy calls for those items. You can't, 00:33:24.259 --> 00:33:27.349 I think that's my benefit, right? Because I can't 00:33:27.349 --> 00:33:30.509 lie to myself because I have a YouTube channel. 00:33:31.170 --> 00:33:33.789 And it's the opposite for others because you 00:33:33.789 --> 00:33:35.470 can lie to yourself and have a YouTube channel. 00:33:35.750 --> 00:33:38.390 It's easier to, you know, make shit up and kind 00:33:38.390 --> 00:33:41.529 of, you know, almost be like a fictional movie, 00:33:41.710 --> 00:33:45.930 right? Like, but for me, I see it as I'm being 00:33:45.930 --> 00:33:49.250 100 % with people. So there's nothing for me 00:33:49.250 --> 00:33:51.890 to hide, right? Like if it sucks, it sucks. If 00:33:51.890 --> 00:33:54.269 it's good, it's good. You roll with the good, 00:33:54.329 --> 00:33:56.750 you roll with the bad. And if you just hold yourself 00:33:56.750 --> 00:33:58.869 accountable a little bit, you're going to get 00:33:58.869 --> 00:34:00.670 results like anybody that's like, hey, I'm going 00:34:00.670 --> 00:34:03.289 to do X amount of work for X amount of period 00:34:03.289 --> 00:34:06.130 of time in reselling. As long as you have a little 00:34:06.130 --> 00:34:07.869 bit of an idea what you're doing, you're going 00:34:07.869 --> 00:34:11.130 to grow your business. People don't like to present 00:34:11.130 --> 00:34:13.750 themselves in a bad light or think of themselves 00:34:13.750 --> 00:34:16.409 as less than and they try to present themselves 00:34:16.409 --> 00:34:19.949 better than versus what we're talking about here 00:34:19.949 --> 00:34:24.639 is just be real, be genuine, be truthful. And 00:34:24.639 --> 00:34:27.340 our fun little topic, stop lying to yourself. 00:34:27.619 --> 00:34:31.780 And well, in that same vein, stop lying to others. 00:34:34.179 --> 00:34:38.539 People, you think about yourself way more than 00:34:38.539 --> 00:34:42.420 any of your friends do. um any of your fan members 00:34:42.420 --> 00:34:45.199 do we concentrate because we're selfish human 00:34:45.199 --> 00:34:47.159 beings we concentrate on ourself and our inner 00:34:47.159 --> 00:34:49.380 inner thoughts of what people will think of me 00:34:49.380 --> 00:34:52.719 can drive you batshit and crazy you can have 00:34:52.719 --> 00:34:55.619 high anxiety it can lead yourself to a panic 00:34:55.619 --> 00:34:59.360 attack or a stroke man but if you were to let 00:34:59.360 --> 00:35:03.780 all that go and just be you and the genuine article 00:35:03.780 --> 00:35:07.500 100 of the time I guarantee you, you will feel 00:35:07.500 --> 00:35:09.519 a lot better about yourself and have reduced 00:35:09.519 --> 00:35:12.840 that stress line dramatically. I got nothing 00:35:12.840 --> 00:35:14.820 else to say. We appreciate you listening or watching 00:35:14.820 --> 00:35:16.320 over on YouTube. We'll talk to you all in next 00:35:16.320 --> 00:35:18.960 week's episode. Thanks for listening to another 00:35:18.960 --> 00:35:21.860 episode of the Reseller's Mindset Podcast. Today's 00:35:21.860 --> 00:35:24.280 full episode and all previous episodes are available 00:35:24.280 --> 00:35:26.780 to all YouTube members along with the weekly 00:35:26.780 --> 00:35:29.539 Zoom call and private Discord. Head on over to 00:35:29.539 --> 00:35:32.320 youtube .com backslash to use book guy and consider 00:35:32.320 --> 00:35:34.380 joining for as little as $2 .99 a month.