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 --> 00:00:11.169 B. We help people start and grow their reselling 00:00:11.169 --> 00:00:13.589 businesses from the ground up. We also have a 00:00:13.589 --> 00:00:15.570 weekly Zoom call and private Discord for all 00:00:15.570 --> 00:00:18.469 YouTube members. Head on over to youtube .com 00:00:18.469 --> 00:00:20.829 backslash usebookguy to join the channel and 00:00:20.829 --> 00:00:23.429 gain access to the full -length podcast, Zoom 00:00:23.429 --> 00:00:26.129 call, and private Discord today. Let's get into 00:00:26.129 --> 00:00:28.429 this week's episode. What is up, everybody? Welcome 00:00:28.429 --> 00:00:30.750 to another episode of Reseller's Mindset Podcast. 00:00:31.149 --> 00:00:33.770 Mike's sitting next to Johnny. I just complimented 00:00:33.770 --> 00:00:35.729 him before we started recording on his backwards 00:00:35.729 --> 00:00:38.539 cat. Look. If you're watching on YouTube, he 00:00:38.539 --> 00:00:41.159 looks way cooler and tougher of a guy with a 00:00:41.159 --> 00:00:43.219 backwards cap on his head. And if you're not 00:00:43.219 --> 00:00:45.140 watching, just take my word for it and like the 00:00:45.140 --> 00:00:47.000 podcast wherever you're listening to us, right? 00:00:47.079 --> 00:00:49.920 So today's topic is his topic, right? And I just 00:00:49.920 --> 00:00:51.500 pointed to the wrong direction. That's all right. 00:00:51.579 --> 00:00:54.200 Don't worry about that. Self -sabotage and getting 00:00:54.200 --> 00:00:57.939 in your own way. And this is a fine line with 00:00:57.939 --> 00:01:00.460 reselling, I think, because self -sabotage, I 00:01:00.460 --> 00:01:03.609 mean, it's almost things that we don't. think 00:01:03.609 --> 00:01:06.150 about or don't do is really self -sabotage. So 00:01:06.150 --> 00:01:08.650 like the first one you would say for me, and 00:01:08.650 --> 00:01:10.989 you gave up trying to tell me this, right? Like 00:01:10.989 --> 00:01:12.730 Johnny's been telling me this for like five years. 00:01:12.849 --> 00:01:15.030 Mike, why don't you just get an employee, Mike? 00:01:15.090 --> 00:01:16.510 Why don't you get somebody to work with you? 00:01:16.569 --> 00:01:18.450 And I'm just like, he finally gave up. Next month 00:01:18.450 --> 00:01:20.290 we have this conversation. Mike, why don't you 00:01:20.290 --> 00:01:22.269 get an employee? So it's not something that's 00:01:22.269 --> 00:01:24.810 like in your face self -sabotage, but maybe it's 00:01:24.810 --> 00:01:26.810 something you don't know that you're not doing 00:01:26.810 --> 00:01:29.049 that is really kind of holding you back. And 00:01:29.049 --> 00:01:30.569 that's kind of the interesting side of it. But 00:01:30.569 --> 00:01:33.269 the blatant one, right, is like, I guess you 00:01:33.269 --> 00:01:36.530 would say you're listing items price too high 00:01:36.530 --> 00:01:39.370 or like you're listing items on eBay and the 00:01:39.370 --> 00:01:41.590 descriptions are terrible and the titles are 00:01:41.590 --> 00:01:43.650 terrible. Like there's so many things we can 00:01:43.650 --> 00:01:46.590 do because we control every aspect of our business. 00:01:46.709 --> 00:01:48.590 And that's scary to think about. If you think 00:01:48.590 --> 00:01:50.430 about big corporations, like, all right, we got 00:01:50.430 --> 00:01:52.950 the HR department, right? It's like me. I can't 00:01:52.950 --> 00:01:55.260 say like. I can't say offensive things, Johnny, 00:01:55.359 --> 00:01:57.760 because I'm a YouTuber, right? And we got this 00:01:57.760 --> 00:01:59.920 pot and you're in the same boat now, right? Like 00:01:59.920 --> 00:02:01.980 if Johnny comes out and does something crazy, 00:02:02.079 --> 00:02:04.379 right? Like we're kind of linked together when 00:02:04.379 --> 00:02:06.579 it comes to our credibility now. So he decides 00:02:06.579 --> 00:02:08.599 to do something that's just way out there and 00:02:08.599 --> 00:02:11.060 offends the whole country. Like I'm kind of screwed 00:02:11.060 --> 00:02:13.620 too. So like, it's a fine line, man. Take us 00:02:13.620 --> 00:02:16.319 away. Yeah, I mean, I talked to a lot of people 00:02:16.319 --> 00:02:19.770 and I see them sometimes. saying you know what 00:02:19.770 --> 00:02:21.969 everything is going great i'm gonna do this other 00:02:21.969 --> 00:02:24.969 thing now i'm like why do more of what's working 00:02:24.969 --> 00:02:32.469 why no please stop or i have or it's okay i'm 00:02:32.469 --> 00:02:35.409 paying too much for items okay here is a laundry 00:02:35.409 --> 00:02:37.550 list of ways you could pay for items cheaper 00:02:37.550 --> 00:02:42.090 no i don't want to do that why why not you just 00:02:42.090 --> 00:02:44.870 identified a problem and i hand gifted you the 00:02:44.870 --> 00:02:48.770 answer why are we not um doing the thing that's 00:02:48.770 --> 00:02:52.610 known to be cheaper or at least trying it question 00:02:52.610 --> 00:02:57.550 marks it's tough man because i think all right 00:02:57.550 --> 00:03:00.530 i'm gonna i'm gonna admit something else here 00:03:00.530 --> 00:03:03.909 it's easier when you have a secondary set of 00:03:03.909 --> 00:03:06.490 eyes that necessarily isn't involved in your 00:03:06.490 --> 00:03:08.189 business to give you an opinion on something 00:03:08.189 --> 00:03:10.370 right so for example when i'm doing like bulk 00:03:10.370 --> 00:03:13.699 pickups um like i always run it by deb and she's 00:03:13.699 --> 00:03:15.680 like she's got like an outside set of eyes and 00:03:15.680 --> 00:03:18.139 a different kind of look at things and she saved 00:03:18.139 --> 00:03:20.879 my ass so many times just being like nah you 00:03:20.879 --> 00:03:23.620 didn't you see that they the way they said this 00:03:23.620 --> 00:03:25.479 or like the photo in this photo like you could 00:03:25.479 --> 00:03:27.840 see this or that but when you're by yourself 00:03:27.840 --> 00:03:30.680 dude like you're betting on yourself and every 00:03:30.680 --> 00:03:32.879 decision you make that's why i tell people man 00:03:32.879 --> 00:03:35.800 it all circles back to us as resellers being 00:03:35.800 --> 00:03:38.229 able to have a type of bankroll. So if we do 00:03:38.229 --> 00:03:40.550 make a bad decision, we still can float the boat, 00:03:40.629 --> 00:03:42.129 right? Like, oh yeah, it sucked. We might've 00:03:42.129 --> 00:03:45.150 lost money, but it's not bankrupting us. So the 00:03:45.150 --> 00:03:47.669 problem is if you don't have the capital and 00:03:47.669 --> 00:03:50.629 you bet everything on black and the roulette 00:03:50.629 --> 00:03:52.610 wheel spinning and your color don't come up, 00:03:52.669 --> 00:03:55.629 then that's the end of the line. Self -sabotage, 00:03:55.629 --> 00:03:58.360 man. This is, all resellers do it. We've all 00:03:58.360 --> 00:04:00.479 done it. We all probably do it once every season, 00:04:00.539 --> 00:04:02.219 I would say. We just try to do something that's 00:04:02.219 --> 00:04:04.780 just completely asinine and stupid. And if you 00:04:04.780 --> 00:04:06.979 don't have the buffer or somebody else to kind 00:04:06.979 --> 00:04:08.360 of look over your shoulder and give you a little 00:04:08.360 --> 00:04:11.599 bit of an opinion that you kind of trust, because 00:04:11.599 --> 00:04:14.060 it can go the other way, right? If I say, hey, 00:04:14.219 --> 00:04:16.319 Johnny, do you think this looks good? Johnny 00:04:16.319 --> 00:04:17.879 don't even look at the photo, right? He's just 00:04:17.879 --> 00:04:19.680 like, yeah, that looks good, right? Unfortunately, 00:04:19.699 --> 00:04:21.519 there's people out there like that in the space, 00:04:21.600 --> 00:04:23.639 right? Or maybe there's people like that in your 00:04:23.639 --> 00:04:25.660 life that really aren't paying attention to when 00:04:25.660 --> 00:04:27.519 you say something or talk about a situation. 00:04:27.920 --> 00:04:30.379 And they just kind of having people around you 00:04:30.379 --> 00:04:32.339 that just tell you what you want to hear is not 00:04:32.339 --> 00:04:37.819 good. Yeah, and I do have a habit of giving advice 00:04:37.819 --> 00:04:40.379 when it was not requested. Just because I see 00:04:40.379 --> 00:04:42.800 an answer that they may not have a question on. 00:04:43.399 --> 00:04:45.120 They're like, yeah, yeah, whatever. And I get 00:04:45.120 --> 00:04:47.779 why they dismissed me at that point. But eventually 00:04:47.779 --> 00:04:50.019 they may ask that same question, like, is what 00:04:50.019 --> 00:04:52.980 I told you four months ago. You should go do 00:04:52.980 --> 00:04:55.899 that now. You waited. I told you four months 00:04:55.899 --> 00:04:59.459 ago. But so I guess that's on me because they 00:04:59.459 --> 00:05:02.060 didn't ask for help and I gave it anyway. So 00:05:02.060 --> 00:05:04.920 unsolicited help. I'm guilty of that. I'm famous 00:05:04.920 --> 00:05:07.060 for that. I'll tell people all day long how they're 00:05:07.060 --> 00:05:08.899 doing things wrong or how they're doing things 00:05:08.899 --> 00:05:10.699 right. Or like, that's great. You should do more 00:05:10.699 --> 00:05:14.740 of that. And then the other thing is when they 00:05:14.740 --> 00:05:18.079 ask for advice and they necessarily dismissive, 00:05:18.079 --> 00:05:23.699 but they're resistant to it. And I'm also I've 00:05:23.699 --> 00:05:25.779 also been in that boat where I'm resistant to 00:05:25.779 --> 00:05:28.439 the advice giving, even though I know them to 00:05:28.439 --> 00:05:31.129 be correct. I just still don't want to. I still 00:05:31.129 --> 00:05:35.069 don't want to, but I know I should. That's the 00:05:35.069 --> 00:05:37.649 kicker. I know I should, but what they're asking 00:05:37.649 --> 00:05:41.649 me to do is a Herculean monumental task. I can 00:05:41.649 --> 00:05:44.910 lay it out for people, right? Like I have, I'm 00:05:44.910 --> 00:05:46.310 in the same boat because I have a lot of one 00:05:46.310 --> 00:05:48.569 -on -ones every single month. And some people, 00:05:48.629 --> 00:05:50.470 you know, it's their first one -on -one. Some 00:05:50.470 --> 00:05:52.410 people, I've been doing it, you know, well over 00:05:52.410 --> 00:05:55.529 a year with the same person. And I can tell people, 00:05:55.730 --> 00:05:58.149 hey, this is what you're doing wrong. And I can 00:05:58.149 --> 00:06:00.699 give them steps, but. self -sabotage comes back 00:06:00.699 --> 00:06:04.139 is what you said people ask sometimes for advice 00:06:04.139 --> 00:06:06.620 or like what should i do and i give it to them 00:06:06.620 --> 00:06:08.759 and then they don't do any of it but they expect 00:06:08.759 --> 00:06:10.740 to get the result from everything i said would 00:06:10.740 --> 00:06:14.620 be the result if you did x y and z yes it's it's 00:06:14.620 --> 00:06:17.779 tough man because a lot of people can make a 00:06:17.779 --> 00:06:20.279 lot more money reselling if they just changed 00:06:20.279 --> 00:06:22.519 a few things right just tweaked a few little 00:06:22.519 --> 00:06:25.120 things here did something a little bit different 00:06:25.120 --> 00:06:28.470 but i think we're just so ingrained with We always 00:06:28.470 --> 00:06:31.230 got to be right, right? We always got to, we're 00:06:31.230 --> 00:06:33.230 always right in our business. That's a lot of 00:06:33.230 --> 00:06:35.029 the people's mindset and reselling, I think is 00:06:35.029 --> 00:06:38.029 100 % the worst mindset to have because there's 00:06:38.029 --> 00:06:39.810 so many different business models and opportunities 00:06:39.810 --> 00:06:42.430 out there where if you just kind of opened your 00:06:42.430 --> 00:06:44.730 eyes a little bit and it doesn't mean you're 00:06:44.730 --> 00:06:46.389 wrong, right? Like I just think about all the 00:06:46.389 --> 00:06:48.550 shit I've adopted from different business models, 00:06:48.709 --> 00:06:50.790 different people are selling different platforms, 00:06:50.829 --> 00:06:53.569 different universes, basically. And you take 00:06:53.569 --> 00:06:55.709 bits and pieces and you put it together and it 00:06:55.709 --> 00:06:58.089 benefits your business. Never, ever do I think 00:06:58.089 --> 00:07:00.970 everything I do is 100 percent right. We always 00:07:00.970 --> 00:07:03.009 say in the group, right, you got your line. Everybody 00:07:03.009 --> 00:07:05.189 can do business as they see fit. And I always 00:07:05.189 --> 00:07:07.850 tell everybody now before I talk about like settings 00:07:07.850 --> 00:07:10.449 or like a specific thing I use, like this works 00:07:10.449 --> 00:07:12.990 for me. Different things work for different people. 00:07:13.050 --> 00:07:15.930 But if you're hard headed and we've seen it over 00:07:15.930 --> 00:07:18.339 the years, people are like. I've been selling 00:07:18.339 --> 00:07:20.519 on eBay for 80 years. I've been selling books. 00:07:20.660 --> 00:07:22.980 I used to sell books on Amazon when the fees 00:07:22.980 --> 00:07:26.360 were a dollar. I was eBay beta. Yeah, yeah. Like, 00:07:26.379 --> 00:07:29.759 dude, who cares? But they're still doing business 00:07:29.759 --> 00:07:33.180 the same way. Like it's 1998 and we're living 00:07:33.180 --> 00:07:36.439 in 2025. And that is self -sabotage. You're not 00:07:36.439 --> 00:07:39.339 willing to, I guess, reflect and see what the 00:07:39.339 --> 00:07:41.800 market's doing, right? I mean, you kind of can 00:07:41.800 --> 00:07:44.649 take. what the live selling has become over the 00:07:44.649 --> 00:07:46.889 past year and how many people have moved away 00:07:46.889 --> 00:07:49.709 from eBay and gone to whatnot and had huge success 00:07:49.709 --> 00:07:52.470 as them just saying, well, I might've done eBay 00:07:52.470 --> 00:07:54.370 for the past five years, but this opportunity 00:07:54.370 --> 00:07:57.290 is really good for me right now. So I want to 00:07:57.290 --> 00:07:59.089 take the risk. And most of the time when you 00:07:59.089 --> 00:08:01.029 bet on yourself and you take a calculated risk, 00:08:01.189 --> 00:08:03.170 that's how you're going to win in life in general, 00:08:03.230 --> 00:08:05.329 right? Like nobody ever gets anywhere without 00:08:05.329 --> 00:08:07.069 taking a risk, right? Sure. If you want to go 00:08:07.069 --> 00:08:09.930 work a nine to five job and go in Monday through 00:08:09.930 --> 00:08:12.600 Friday. This ain't for you. But if you're trying 00:08:12.600 --> 00:08:14.319 to be an entrepreneur, there's risks you got 00:08:14.319 --> 00:08:16.439 to take in life. If you're trying to make six, 00:08:16.740 --> 00:08:18.920 seven figures in life, sooner or later, you're 00:08:18.920 --> 00:08:20.639 going to have to bet on yourself and take a few 00:08:20.639 --> 00:08:22.319 risks out there. But as long as it's calculated, 00:08:22.639 --> 00:08:24.319 it's a -okay to do it. And as long as you're 00:08:24.319 --> 00:08:25.920 willing to make the change and commit to it, 00:08:26.000 --> 00:08:27.399 then you really don't got to worry about it. 00:08:27.459 --> 00:08:29.000 But we're talking a percent of a percent out 00:08:29.000 --> 00:08:33.120 here. Right. And a good example of some things 00:08:33.120 --> 00:08:35.200 you touched on, I sat down with a gentleman recently 00:08:35.200 --> 00:08:39.059 and going over repricing settings. He took what 00:08:39.059 --> 00:08:41.799 I was doing and then... on the fly screen sharing 00:08:41.799 --> 00:08:45.200 was changing it all up i'm like ah no no that 00:08:45.200 --> 00:08:48.340 works that's why i gave it to you and it's like 00:08:48.340 --> 00:08:50.620 well i wanted to do this i'm like okay let's 00:08:50.620 --> 00:08:52.759 talk let's talk this out if you do this this 00:08:52.759 --> 00:08:55.559 will be the result if you stick to what i gave 00:08:55.559 --> 00:08:57.840 you this will be the result if you meet in the 00:08:57.840 --> 00:09:01.519 middle it will be the result in the middle um 00:09:01.519 --> 00:09:06.220 and it was kind of a Not necessarily a tug of 00:09:06.220 --> 00:09:08.720 war, but it was more of before you go making 00:09:08.720 --> 00:09:11.080 rash changes that I gave you something that's 00:09:11.080 --> 00:09:14.879 proven to work. You might want to consider everything. 00:09:15.500 --> 00:09:19.759 And so he took a minute and he understood it 00:09:19.759 --> 00:09:21.700 a bit better and made some additional changes 00:09:21.700 --> 00:09:23.419 than what he was doing. Because I was like, no, 00:09:23.539 --> 00:09:25.539 please don't. No, no, don't do that. That's bad. 00:09:25.779 --> 00:09:29.840 Don't do that. But I had to tell myself it's 00:09:29.840 --> 00:09:32.039 his business and he is free to run it how he 00:09:32.039 --> 00:09:35.240 see fits. I would have felt guilty if I did not 00:09:35.240 --> 00:09:37.720 give the explanation of, if you do that, this 00:09:37.720 --> 00:09:42.879 will be the result. And it's kind of like, okay, 00:09:42.960 --> 00:09:46.179 if I was that in that person's shoes and they 00:09:46.179 --> 00:09:48.240 gave me something that would I not tweak it myself? 00:09:48.440 --> 00:09:50.039 And the answer is yes, I would tweak it myself 00:09:50.039 --> 00:09:52.139 because it's my business and that I am going 00:09:52.139 --> 00:09:58.830 to. So it was kind of, I don't know. epiphany 00:09:58.830 --> 00:10:01.110 type moment like it look if i was this person 00:10:01.110 --> 00:10:02.909 i would do the exact same thing i really would 00:10:02.909 --> 00:10:06.570 not not not the exact number for number change 00:10:06.570 --> 00:10:10.330 or rule for rule change but i would make adjustments 00:10:10.330 --> 00:10:14.370 it's uh it's pretty funny this is how this happens 00:10:14.370 --> 00:10:16.889 to me all the time right somebody will ask for 00:10:16.889 --> 00:10:18.889 like a piece of advice and i'll give it to them 00:10:18.889 --> 00:10:22.379 and like they'll see the change but like The 00:10:22.379 --> 00:10:24.519 change won't be enough or the change will affect 00:10:24.519 --> 00:10:26.179 something else in the business that they get 00:10:26.179 --> 00:10:29.139 frustrated. So the biggest one I see is I'm not 00:10:29.139 --> 00:10:31.379 getting sales. I guess that's the biggest complaint 00:10:31.379 --> 00:10:33.740 in reselling history. I'm not getting sales. 00:10:34.120 --> 00:10:35.899 Well, I mean, what are you going to do to get 00:10:35.899 --> 00:10:38.159 sales on Amazon? Well, you need a repricer. What's 00:10:38.159 --> 00:10:40.679 your repricer settings? If you're on eBay, are 00:10:40.679 --> 00:10:42.419 you promoting your listings? Do you have good 00:10:42.419 --> 00:10:44.159 title structure? Do you have good descriptions? 00:10:44.700 --> 00:10:46.659 Well, the thing you get back to at the end of 00:10:46.659 --> 00:10:49.840 the day, it's always going to be. You need to 00:10:49.840 --> 00:10:52.460 be the lowest price. And for some reason, resellers 00:10:52.460 --> 00:10:56.100 have this mindset of, I know what I got. I know 00:10:56.100 --> 00:10:58.500 this book is worth X amount of dollars. I know 00:10:58.500 --> 00:11:01.139 this shirt is worth X amount of dollars. So I'm 00:11:01.139 --> 00:11:03.980 not going lower than this. Look, the last sold 00:11:03.980 --> 00:11:07.259 comp, Johnny, is $300. Why would I lower my price 00:11:07.259 --> 00:11:11.379 to $200? It's something I'll never get through 00:11:11.379 --> 00:11:13.779 to people. And I really, you know, I'm at the 00:11:13.779 --> 00:11:15.700 point now where, listen, if you don't want to 00:11:15.700 --> 00:11:17.559 make money. That's on you. I always said the 00:11:17.559 --> 00:11:19.320 group is about making money, not caring about 00:11:19.320 --> 00:11:21.059 books, not caring about anything else besides 00:11:21.059 --> 00:11:24.019 having a profitable business. And there's plenty 00:11:24.019 --> 00:11:25.919 of people still out there that are so scared 00:11:25.919 --> 00:11:30.019 to lower their prices and take dollars less, 00:11:30.240 --> 00:11:32.879 tens of dollars less, but actually sell the item. 00:11:32.899 --> 00:11:35.879 You still make money. And it's the biggest self 00:11:35.879 --> 00:11:38.940 -sabotage out there. Let's sell our items, dude. 00:11:39.019 --> 00:11:41.960 I don't care if I bought this item and it was 00:11:41.960 --> 00:11:44.129 supposed to be a hundred dollar item. And for 00:11:44.129 --> 00:11:46.230 whatever reason, it hasn't sold. And it's been 00:11:46.230 --> 00:11:50.169 90 days, 180 days. Guess what? It's a fire sale. 00:11:50.250 --> 00:11:51.970 Let's get rid of this because my money's tied 00:11:51.970 --> 00:11:54.929 up and give me my money back. What's up, Amazon 00:11:54.929 --> 00:11:56.850 sellers? We wanted to take a second to talk about 00:11:56.850 --> 00:11:59.509 GoToLister, the software me and Johnny both use 00:11:59.509 --> 00:12:01.950 to list and manage our inventory and grow our 00:12:01.950 --> 00:12:04.649 businesses. With the fastest listing speeds out 00:12:04.649 --> 00:12:07.070 there and built -in profit analytics, it's a 00:12:07.070 --> 00:12:09.960 no -brainer. easily and quickly have items available 00:12:09.960 --> 00:12:13.200 for sale using 2D barcodes and get more for your 00:12:13.200 --> 00:12:15.779 items with its built -in smart pricing. Make 00:12:15.779 --> 00:12:18.440 sure to check out the 30 -day free trial at gotolister 00:12:18.440 --> 00:12:21.320 .com backslash Mike or using the link in the 00:12:21.320 --> 00:12:24.039 description below. Right. And though I don't 00:12:24.039 --> 00:12:26.720 prescribe to your methodology in whole, I do 00:12:26.720 --> 00:12:29.759 in part as I wait a certain amount of time before 00:12:29.759 --> 00:12:31.860 lowering my prices to something you described. 00:12:32.740 --> 00:12:34.559 It's not like I'm unwilling to, but I do want 00:12:34.559 --> 00:12:36.600 to try to scoop up my maximum dollars if I'm 00:12:36.600 --> 00:12:39.399 able to. But I'm self -conscious that I may not 00:12:39.399 --> 00:12:41.759 be able to do that on 100 % of the items I send 00:12:41.759 --> 00:12:43.799 in. And I have a rule in place like, okay, let's 00:12:43.799 --> 00:12:48.039 apply the Mike methodology at this stage. And 00:12:48.039 --> 00:12:51.039 I'll say this publicly, your methodology does 00:12:51.039 --> 00:12:53.919 work. You will sell more items quickly, a little 00:12:53.919 --> 00:12:57.600 less money, but you will sell them. So don't 00:12:57.600 --> 00:12:59.500 be resistant to that. The penny undercutting 00:12:59.500 --> 00:13:03.059 method does work. Now, will it price tank a few 00:13:03.059 --> 00:13:05.279 things when you do a reprice your war? Absolutely. 00:13:05.419 --> 00:13:07.399 Hell yeah, that's what I want. But it's a war, 00:13:07.460 --> 00:13:10.720 man. It's a war. We're all fighting Amazon at 00:13:10.720 --> 00:13:15.580 the end of the day. It's true, dude. I take pride 00:13:15.580 --> 00:13:17.200 on the penny undercut, but you're right. And 00:13:17.200 --> 00:13:20.360 I mean, I think it's more important to be more 00:13:20.360 --> 00:13:23.240 calculated and be more cashflow -focused when 00:13:23.240 --> 00:13:25.480 you're smaller, right? You kind of look at our 00:13:25.480 --> 00:13:27.399 businesses, we have, you know, thousands and 00:13:27.399 --> 00:13:30.000 thousands of units sitting at Amazon. So we don't 00:13:30.000 --> 00:13:32.600 need to sell like a large percent of our inventory 00:13:32.600 --> 00:13:34.740 every single day versus a small person that's 00:13:34.740 --> 00:13:38.240 maybe got 500 units. And like, and maybe they 00:13:38.240 --> 00:13:39.720 need the money because they're trying to grow 00:13:39.720 --> 00:13:41.360 the business, or maybe they need the money to 00:13:41.360 --> 00:13:44.240 cover the bills. I still think all the time, 00:13:44.279 --> 00:13:46.759 you got to be like the best price, the best offering 00:13:46.759 --> 00:13:49.519 to get the sale. And for some reason, people 00:13:49.519 --> 00:13:52.679 are just fine. I mean, I related it to something 00:13:52.679 --> 00:13:55.940 on one of the calls like, It's 105 degrees out. 00:13:56.159 --> 00:13:58.879 You're at Disney World and you can pay an extra 00:13:58.879 --> 00:14:01.539 $20 to get the little wristband that gets you 00:14:01.539 --> 00:14:03.679 to the front of the line. That's what I equate, 00:14:03.679 --> 00:14:06.340 you know, being the lowest price item to. Am 00:14:06.340 --> 00:14:08.259 I going to wait to sell my item or am I going 00:14:08.259 --> 00:14:11.919 to pay the $20? It's so damn hot out here. I 00:14:11.919 --> 00:14:14.100 just want to get on the water ride. So I'm cooled 00:14:14.100 --> 00:14:16.039 down and then, you know, it's business as usual. 00:14:16.879 --> 00:14:21.500 I work with a person pretty much one -on -one 00:14:21.500 --> 00:14:25.620 for and still working with them. Got the buy 00:14:25.620 --> 00:14:29.000 box in less than 90 days, sending in consistently, 00:14:29.259 --> 00:14:35.080 and a few months have rolled by now, and just 00:14:35.080 --> 00:14:37.539 evaluating the cash flow issue. I'm like, it's 00:14:37.539 --> 00:14:39.480 a marathon, not a race. You just got to keep 00:14:39.480 --> 00:14:41.820 on doing and believing. And I know you've been 00:14:41.820 --> 00:14:44.159 believing for six plus months now. You're starting 00:14:44.159 --> 00:14:47.220 to get money to roll in, decently so, and it'll 00:14:47.220 --> 00:14:49.820 just slowly compound. But it's hard for that 00:14:49.820 --> 00:14:54.759 person to... put full blind trust into it'll 00:14:54.759 --> 00:14:56.320 work because i'm just some dude on the internet 00:14:56.320 --> 00:15:01.299 um so it's like just be patient just be patient 00:15:01.299 --> 00:15:02.980 keep on doing the same thing because she wanted 00:15:02.980 --> 00:15:05.039 to make some drastic changes just to speed up 00:15:05.039 --> 00:15:08.259 cash flow i'm like no just do the same thing 00:15:08.259 --> 00:15:11.059 i promise you it will compound will it compound 00:15:11.059 --> 00:15:13.940 overnight or over the week no but over the months 00:15:13.940 --> 00:15:16.039 and the course of the year absolutely it will 00:15:16.039 --> 00:15:17.779 you're going to make the majority of your sales 00:15:17.779 --> 00:15:22.529 in q4 um and you're you're your payouts will 00:15:22.529 --> 00:15:25.269 gradually become bigger and bigger. That $100 00:15:25.269 --> 00:15:27.490 a month will become, or a payout will become 00:15:27.490 --> 00:15:30.389 200, then 400, then 800, et cetera, et cetera. 00:15:30.429 --> 00:15:33.570 Just keep on pumping it. Do the same thing. It's 00:15:33.570 --> 00:15:36.110 boring. It's the same thing. It is. And I mean, 00:15:36.129 --> 00:15:37.490 I guess that's another thing when it comes to 00:15:37.490 --> 00:15:39.529 self -sabotage is you actually have to get out 00:15:39.529 --> 00:15:41.269 there and do the boring work, right? Especially 00:15:41.269 --> 00:15:43.889 in Amazon land. You just, we just scan things. 00:15:44.090 --> 00:15:46.149 I mean, there's nothing exciting about spending 00:15:46.149 --> 00:15:48.750 all day with this little stupid R2D2 Bluetooth 00:15:48.750 --> 00:15:51.950 scanner. And scanning every book, CD and DVD. 00:15:52.809 --> 00:15:56.090 It's so boring. Yeah, it is. But like, that's 00:15:56.090 --> 00:15:58.350 a self -sabotage because you go to that store 00:15:58.350 --> 00:16:00.409 or you decide not to go out today because say, 00:16:00.450 --> 00:16:02.529 for example, like yesterday, like almost 90 degrees 00:16:02.529 --> 00:16:04.429 for the first time all year. And maybe that was 00:16:04.429 --> 00:16:06.570 supposed to be my thrifting day. Well, Johnny, 00:16:06.649 --> 00:16:09.049 the ice cream shop's open. I really want a vanilla 00:16:09.049 --> 00:16:11.409 cone with rainbow sprinkles. I don't think I'm 00:16:11.409 --> 00:16:13.250 going to go thrifting today. And that is what 00:16:13.250 --> 00:16:18.629 reselling is such a deadly balance of self -motivation. 00:16:20.100 --> 00:16:24.559 self -sabotage and i think it's just it's a certain 00:16:24.559 --> 00:16:26.639 type of person that's gonna win it's working 00:16:26.639 --> 00:16:28.539 but it's not working fast enough why do we need 00:16:28.539 --> 00:16:30.480 to work fast we don't need it to we just need 00:16:30.480 --> 00:16:34.320 it to work ah man it's it's tough because a lot 00:16:34.320 --> 00:16:36.759 of i mean you could almost i mean i guess not 00:16:36.759 --> 00:16:39.419 all of them but you probably could say like night 00:16:39.419 --> 00:16:40.879 i don't know i'm just throwing a crazy number 00:16:40.879 --> 00:16:42.279 out here because it just came to my head but 00:16:42.279 --> 00:16:44.980 i'm gonna stick to my guns here 90 of people 00:16:44.980 --> 00:16:47.580 that fail in resale and it's because of themselves 00:16:47.580 --> 00:16:50.600 right it's self -sabotage because who else can 00:16:50.600 --> 00:16:53.519 you blame unless you get banned you know from 00:16:53.519 --> 00:16:55.519 a platform where you weren't responsible for 00:16:55.519 --> 00:16:57.940 the reason you got banned everything else falls 00:16:57.940 --> 00:17:00.799 on you i mean who else can you blame i mean sure 00:17:00.799 --> 00:17:02.860 we all have life going on so you can't give life 00:17:02.860 --> 00:17:05.240 an excuse i'm glad i kind of weeded that one 00:17:05.240 --> 00:17:07.960 out many many moons ago because we got people 00:17:07.960 --> 00:17:10.230 all walks of life in the group You've dealt with 00:17:10.230 --> 00:17:11.950 them. I've dealt with them. Doesn't matter. Six 00:17:11.950 --> 00:17:14.150 kids still pumping in 40 hours a week to their 00:17:14.150 --> 00:17:16.809 business. No excuses. Love it. Yeah. Yeah. Yeah. 00:17:16.849 --> 00:17:18.990 And like, I just think it's a type of person 00:17:18.990 --> 00:17:22.170 that, you know, it's entrepreneurship and it's 00:17:22.170 --> 00:17:24.950 such a huge part of, you know, the, I guess, 00:17:24.970 --> 00:17:26.869 American culture now is people wanting to start 00:17:26.869 --> 00:17:28.609 their own businesses. But like you said, it's 00:17:28.609 --> 00:17:31.910 doing what we do. Like the return on investment 00:17:31.910 --> 00:17:35.240 is good. But it takes a lot to scale this into 00:17:35.240 --> 00:17:37.039 something where you're going to be making six 00:17:37.039 --> 00:17:39.240 figures a year, right? So, like, if you think 00:17:39.240 --> 00:17:41.059 about the average income in America, I think 00:17:41.059 --> 00:17:45.019 it's around, like, $70 ,000, right? Well, of 00:17:45.019 --> 00:17:46.759 America, that's probably correct. I was thinking 00:17:46.759 --> 00:17:48.440 by state. But, yeah, America, that's probably 00:17:48.440 --> 00:17:50.299 right. So, like, if you think about it like that, 00:17:50.359 --> 00:17:53.200 it's, you know, to make that resell is a lot 00:17:53.200 --> 00:17:56.519 of damn work. It's a lot of time. It's a lot 00:17:56.519 --> 00:17:59.339 of effort. but it's not spun up that way. And 00:17:59.339 --> 00:18:01.539 I think the self -sabotage comes into place is 00:18:01.539 --> 00:18:03.779 when you go and you first discover reselling 00:18:03.779 --> 00:18:06.380 and you first start your business, you see the 00:18:06.380 --> 00:18:08.380 people that are already established, right? You 00:18:08.380 --> 00:18:10.299 see the big names because that's what's promoted 00:18:10.299 --> 00:18:13.380 out there in most places on social media platforms. 00:18:13.900 --> 00:18:16.299 And you're like, oh man, like this person's doing 00:18:16.299 --> 00:18:19.339 $20 ,000 a month. I'll be doing that in two months, 00:18:19.420 --> 00:18:21.480 three months. And like you said, that's not the 00:18:21.480 --> 00:18:23.220 reality, right? We're building something bigger 00:18:23.220 --> 00:18:25.490 than. you know, three months, six months. We're 00:18:25.490 --> 00:18:26.950 trying to build a business here that's going 00:18:26.950 --> 00:18:29.789 to sustain us for years, right? And you always 00:18:29.789 --> 00:18:32.549 have to be willing to accept the fact that it 00:18:32.549 --> 00:18:35.049 takes time for anything good. You know, this 00:18:35.049 --> 00:18:38.170 isn't some type of crazy scam where you're going 00:18:38.170 --> 00:18:40.250 to get rich quick. No matter what any business 00:18:40.250 --> 00:18:42.609 model says out there, unless you have an infinite 00:18:42.609 --> 00:18:44.069 amount of money, which then you really don't 00:18:44.069 --> 00:18:46.049 need to resell, right? Why do you resell it for 00:18:46.049 --> 00:18:48.410 fun? Exactly. So you're not going to get rich 00:18:48.410 --> 00:18:50.250 quick, no matter what platform, no matter what 00:18:50.250 --> 00:18:53.119 category. Unless you have a lot of money, but 00:18:53.119 --> 00:18:55.240 then you don't need to be reselling. So if you 00:18:55.240 --> 00:18:56.900 accept the fact it's going to take time and not 00:18:56.900 --> 00:18:59.319 self -sabotage yourself thinking, hey, I've seen 00:18:59.319 --> 00:19:02.140 Joe Blow posted a video and they found XYZ at 00:19:02.140 --> 00:19:04.240 the Goodwill bins and I'm going to go do the 00:19:04.240 --> 00:19:05.819 same thing. And within three months, I'm going 00:19:05.819 --> 00:19:08.000 to be making an extra five, $10 ,000 a month. 00:19:08.119 --> 00:19:10.559 And I'm just here to tell people that's not the 00:19:10.559 --> 00:19:13.500 case in 95 % of the brand new resellers that 00:19:13.500 --> 00:19:15.640 start. Okay, here are a couple of scenarios. 00:19:15.980 --> 00:19:18.240 There's a difference between somebody. It has 00:19:18.240 --> 00:19:20.599 slow sales and all of a sudden they get a repricer 00:19:20.599 --> 00:19:23.259 and things start selling magically. Then in the 00:19:23.259 --> 00:19:25.579 same similar scenario, a person already has a 00:19:25.579 --> 00:19:29.240 repricer. They are tempted to pull a couple of 00:19:29.240 --> 00:19:32.619 levers and see what happens. Then it's a magical 00:19:32.619 --> 00:19:36.819 lever pull. I've doubled my sales versus, okay, 00:19:36.920 --> 00:19:40.059 I have a repricer. Things are selling. I want 00:19:40.059 --> 00:19:42.779 them to sell faster. Maybe I'll leave this alone 00:19:42.779 --> 00:19:46.549 and I'll cut my. sourcing spend in half and send 00:19:46.549 --> 00:19:48.589 in the same. That's huge if you're able to do 00:19:48.589 --> 00:19:51.069 that. If you're able to go to $1 to $0 .50 a 00:19:51.069 --> 00:19:53.809 unit, huge. That's a bigger impact than your 00:19:53.809 --> 00:19:57.049 testing and guessing lever pulling will do. Now, 00:19:57.069 --> 00:19:58.589 if there's something fundamentally wrong with 00:19:58.589 --> 00:20:00.109 your repricer, that's a whole different story. 00:20:00.390 --> 00:20:02.289 But for the scenarios I laid out, it's think, 00:20:02.450 --> 00:20:07.369 okay, that's where I see the shift is people 00:20:07.369 --> 00:20:10.009 who want to increase their cash flow when they 00:20:10.009 --> 00:20:12.470 have something that's working. What do they do? 00:20:12.509 --> 00:20:14.789 They tend to go the Liverpool route. And I'm 00:20:14.789 --> 00:20:16.589 advising against that. What's something else 00:20:16.589 --> 00:20:19.009 you can do? Because it's either, there's only 00:20:19.009 --> 00:20:21.690 a couple of ways to really expand. It's either 00:20:21.690 --> 00:20:24.690 you send in more, you cut your expenses down. 00:20:25.470 --> 00:20:28.150 Or you add in something different into the mix 00:20:28.150 --> 00:20:31.609 in addition to, or you switch to addition to 00:20:31.609 --> 00:20:34.089 in general. Like if I switched to video games 00:20:34.089 --> 00:20:36.130 right now, I could tell you I would probably 00:20:36.130 --> 00:20:39.029 double my sales very shortly. Do I want to go 00:20:39.029 --> 00:20:40.650 into video games? No, it's too much risk for 00:20:40.650 --> 00:20:43.069 me with the section threes and stuff. I'm red 00:20:43.069 --> 00:20:47.049 flags. I'm good. I want stability in my business 00:20:47.049 --> 00:20:49.250 because I plan to be doing this beyond five years. 00:20:51.120 --> 00:20:53.240 So you got to weigh those things out. There's 00:20:53.240 --> 00:20:55.960 all the risk factors also there is what I'm going 00:20:55.960 --> 00:20:58.759 to be doing or trying to do too risky. Like if 00:20:58.759 --> 00:21:00.240 I'm going to try to sell video games, I know 00:21:00.240 --> 00:21:02.000 there's a huge risk there right now because video 00:21:02.000 --> 00:21:04.140 game sellers are getting slammed left and right 00:21:04.140 --> 00:21:06.759 with these section threes. Me in book land, as 00:21:06.759 --> 00:21:08.500 long as I'm not sitting in textbooks, I'm fairly 00:21:08.500 --> 00:21:13.299 safe. It's, man, because I've pulled the lever 00:21:13.299 --> 00:21:17.299 and I'm always conscious of, I want to be the, 00:21:17.460 --> 00:21:19.279 I want to buy stuff for as cheap as I possibly 00:21:19.279 --> 00:21:22.700 can, right? I, my cashflow in my business is 00:21:22.700 --> 00:21:24.279 the highest it's ever been. But that doesn't 00:21:24.279 --> 00:21:26.039 mean I just go out and just decide to spend more 00:21:26.039 --> 00:21:28.380 money just to spend more money, right? Like you 00:21:28.380 --> 00:21:30.220 hear a lot of other business models, like a big 00:21:30.220 --> 00:21:33.400 thing in like online arbitrage and retail arbitrage 00:21:33.400 --> 00:21:36.359 is like set a daily spend goal, right? So because 00:21:36.359 --> 00:21:39.460 theoretically, if you're spending more, you should 00:21:39.460 --> 00:21:41.500 be making more on the backend. I think that's 00:21:41.500 --> 00:21:43.359 different for us. That's what we've been brainwashed 00:21:43.359 --> 00:21:46.759 to believe, yeah. Yes, yes. Even outside of reselling, 00:21:46.779 --> 00:21:49.670 in the world, that is the brainwash. quote right 00:21:49.670 --> 00:21:53.049 yeah yeah yeah so it's like i want to keep my 00:21:53.049 --> 00:21:55.509 my buy cost as low as possible by going to the 00:21:55.509 --> 00:21:58.329 same sources finding new sources but i also recently 00:21:58.329 --> 00:22:00.470 have changed my repricer settings after five 00:22:00.470 --> 00:22:04.410 years of you know having the same ones and yeah 00:22:04.410 --> 00:22:07.230 i sell more stuff at lower prices i just want 00:22:07.230 --> 00:22:10.029 to sell stuff right my new motto is like i just 00:22:10.029 --> 00:22:12.049 i should just have a shirt that says i just want 00:22:12.049 --> 00:22:14.009 to sell stuff like because all that matters at 00:22:14.009 --> 00:22:16.849 the end of the day is selling items to fill up 00:22:16.849 --> 00:22:19.470 the bank account Nothing else matters. Your category 00:22:19.470 --> 00:22:22.589 doesn't matter. The widgets you sell don't matter. 00:22:22.670 --> 00:22:25.470 How cool the stuff you sell doesn't matter. All 00:22:25.470 --> 00:22:27.730 that matters is, are you making money? Because 00:22:27.730 --> 00:22:29.990 last time I checked, you're a reselling business. 00:22:30.289 --> 00:22:33.069 And I mean, I guess that's another, that's a 00:22:33.069 --> 00:22:34.789 whole nother topic. Most of it don't treat us 00:22:34.789 --> 00:22:37.430 like a business. We're here to make money. We're 00:22:37.430 --> 00:22:39.869 not here to have cool items that never sell. 00:22:39.970 --> 00:22:43.809 We're not here to have, you know. Be the person 00:22:43.809 --> 00:22:46.269 that touts their inventory because they got 300 00:22:46.269 --> 00:22:49.769 ,000 listings on Amazon or eBay. Okay. Well, 00:22:49.869 --> 00:22:52.730 imagine if you sold all 300 ,000 listings and 00:22:52.730 --> 00:22:54.809 made two bucks on each, right? Like that's over 00:22:54.809 --> 00:22:56.349 half a million dollars in your bank account. 00:22:56.529 --> 00:22:58.269 Give me a dollar followed by eBay listings right 00:22:58.269 --> 00:23:00.609 now. I'll take it. That's what I'm saying, man. 00:23:00.769 --> 00:23:03.769 It's self -sabotage because we all think we know 00:23:03.769 --> 00:23:05.670 what we got and we don't want to part ways with 00:23:05.670 --> 00:23:09.529 it unless we're 10, 15, 20 X in our money. And 00:23:09.529 --> 00:23:11.210 that's another thing. My sourcing, my sourcing 00:23:11.210 --> 00:23:13.369 has changed this year as well. So I've changed 00:23:13.369 --> 00:23:15.230 basically, I wouldn't say my whole business, 00:23:15.309 --> 00:23:17.049 but pretty much my whole business this year. 00:23:17.450 --> 00:23:20.509 Sell -through is what matters to me, not ROI. 00:23:20.730 --> 00:23:24.289 If I can turn a quick two into $5 and all I have 00:23:24.289 --> 00:23:27.829 to do is slap a little stupid label on the book, 00:23:27.950 --> 00:23:30.529 right? Like, boom, get it out the door. I'm done 00:23:30.529 --> 00:23:33.210 with it. It's that quick. It's that simple. But 00:23:33.210 --> 00:23:36.049 we can't get this store ahead because we're looking 00:23:36.049 --> 00:23:38.410 for the 10X. Like, if I'm spending a dollar, 00:23:38.450 --> 00:23:40.599 Johnny, I've got to make at least 10. I'm here 00:23:40.599 --> 00:23:42.640 to tell you, if I'm spending two and I have the 00:23:42.640 --> 00:23:44.839 data in front of me, we have the data in Amazon 00:23:44.839 --> 00:23:48.819 land that shows this sells this often. This is 00:23:48.819 --> 00:23:51.259 how fast this item is going to sell. Well, I 00:23:51.259 --> 00:23:53.460 know I'm going to send the $2 item and I'm going 00:23:53.460 --> 00:23:55.660 to, you know, 2x my money. I'm going to make 00:23:55.660 --> 00:23:57.839 $4 on the back end and it's going to sell the 00:23:57.839 --> 00:24:00.180 day it gets to Amazon or the day I drop it off 00:24:00.180 --> 00:24:03.109 at UPS. There is nothing wrong with this business 00:24:03.109 --> 00:24:05.130 model, but it's not exciting. We get back to 00:24:05.130 --> 00:24:07.869 this idea of self -sabotage because turning two 00:24:07.869 --> 00:24:10.250 into four is not exciting, Johnny. But I'll tell 00:24:10.250 --> 00:24:12.849 you what's exciting, my bank account. And that's 00:24:12.849 --> 00:24:15.049 all I care about. All right, I'm going to put 00:24:15.049 --> 00:24:17.809 Mike in the hot seat for a minute. And in the 00:24:17.809 --> 00:24:19.549 hot seat, we'll get to a controversial topic, 00:24:19.670 --> 00:24:21.410 I promise. You guys are going to love it. You're 00:24:21.410 --> 00:24:23.250 going to put all kinds of fun comments in the 00:24:23.250 --> 00:24:26.710 video. It's going to be great. So Mike, here's 00:24:26.710 --> 00:24:29.240 the play. There's an item for a dollar. How much 00:24:29.240 --> 00:24:31.880 do you want to compound your dollar after fees? 00:24:32.539 --> 00:24:35.940 Or how many Xs do you have to go over that dollar 00:24:35.940 --> 00:24:38.420 to account for fees and put money in the bank? 00:24:38.779 --> 00:24:42.940 What is your comfortable X compound? Is it 3X, 00:24:43.140 --> 00:24:47.170 4X, or just a double or 10X? If it's, I guess 00:24:47.170 --> 00:24:48.650 it's kind of skewed, right? Because if it's a 00:24:48.650 --> 00:24:51.069 more expensive item and it sells for more money, 00:24:51.170 --> 00:24:53.009 right? Like then the X doesn't matter. If I buy 00:24:53.009 --> 00:24:55.029 it for 40 and it sells for 80, I still make 40 00:24:55.029 --> 00:24:56.690 bucks. I'm fine with that, right? So I guess 00:24:56.690 --> 00:24:58.630 like, where does my, what's my - That's double 00:24:58.630 --> 00:25:00.210 right there, but are you going to do a dollar 00:25:00.210 --> 00:25:02.809 into two? What's my bottom? So I guess it would 00:25:02.809 --> 00:25:05.789 be like, it won't be a dollar. I guess, I mean, 00:25:05.849 --> 00:25:11.109 I would say a dollar into, I guess, 350. Okay, 00:25:11.150 --> 00:25:12.809 so three and a half X is where you're comfortable. 00:25:13.309 --> 00:25:15.730 doing for your lower end of the spectrum here? 00:25:16.009 --> 00:25:19.670 It varies. I will say that. I will go lower in 00:25:19.670 --> 00:25:23.130 some cases. But I feel like 3 .5 is kind of a 00:25:23.130 --> 00:25:26.769 good benchmark to give the general idea out there. 00:25:26.869 --> 00:25:29.089 But this thing needs to sell the week it gets 00:25:29.089 --> 00:25:31.369 checked in. I'm not buying something that sells 00:25:31.369 --> 00:25:35.230 once a month. That's the caveat. If I'm buying 00:25:35.230 --> 00:25:39.210 something down at my 3x, 2 .5x, that thing is 00:25:39.210 --> 00:25:40.650 going to sell within the week of it getting there, 00:25:40.670 --> 00:25:42.509 guaranteed from the data I see in front of me. 00:25:43.289 --> 00:25:45.730 That's what I'm saying. So as you go down with 00:25:45.730 --> 00:25:48.750 that X, it needs to be something that's guaranteed 00:25:48.750 --> 00:25:50.769 to sell. The sell -through rate has to be amazing 00:25:50.769 --> 00:25:53.690 to go below three and a half X. And I tend to 00:25:53.690 --> 00:25:57.450 mostly agree with that. Now, here's the fun part 00:25:57.450 --> 00:25:58.930 where we're going to get a lot of fun comments. 00:25:59.430 --> 00:26:03.690 So there's this platform and you can pretty much, 00:26:03.730 --> 00:26:07.609 I would say comfortably two extra money all day. 00:26:08.869 --> 00:26:10.710 And it's whatnot. I know people have already 00:26:10.710 --> 00:26:13.490 guessed it. And they're very successful whatnot 00:26:13.490 --> 00:26:16.650 sellers. Why don't, if you could 2X your money 00:26:16.650 --> 00:26:18.710 all day, as long as you could throw out a camera 00:26:18.710 --> 00:26:21.450 and had inventory to display, why wouldn't you 00:26:21.450 --> 00:26:25.450 do that? Too much work. Yes, I agree with that. 00:26:25.710 --> 00:26:27.849 Compared to work too, like Amazon land, right? 00:26:27.930 --> 00:26:29.569 Like we just literally put a label on an item 00:26:29.569 --> 00:26:32.009 and throw it in a box and never ever see it again. 00:26:32.589 --> 00:26:36.869 Right, so I can 2X my money on whatnot. I could 00:26:36.869 --> 00:26:40.250 probably 8X my money on Amazon in most cases. 00:26:40.880 --> 00:26:44.099 I would take less X on Amazon because it's less 00:26:44.099 --> 00:26:47.599 work. Yeah. It is less work because there's no 00:26:47.599 --> 00:26:50.140 packing outside of the one package in the box. 00:26:50.339 --> 00:26:53.119 There is the counter argument of multi -quantity 00:26:53.119 --> 00:26:55.299 orders. All of those items are going into similar 00:26:55.299 --> 00:26:58.140 size boxes, sure. And I'm not saying you cannot 00:26:58.140 --> 00:27:01.500 make money. It's just if there was a way to 2X 00:27:01.500 --> 00:27:03.799 our money all day, why wouldn't we all do that? 00:27:03.920 --> 00:27:07.140 And it's not discrediting anybody on whatnot. 00:27:07.180 --> 00:27:09.460 I just kind of wanted to bring that up. That's 00:27:09.460 --> 00:27:11.779 a platform you could two extra money pretty consistently 00:27:11.779 --> 00:27:14.099 all day. No doubt about it. Yeah. Especially 00:27:14.099 --> 00:27:15.960 when your buy calls with 50 cents a dollar. Right. 00:27:16.000 --> 00:27:17.779 But the caveat to that is if we look at the huge 00:27:17.779 --> 00:27:20.400 sellers that are like knocking it out on whatnot, 00:27:20.619 --> 00:27:23.259 dude, this stuff shows up to their door. Right. 00:27:23.500 --> 00:27:26.400 So if you're telling me that I'm getting quality 00:27:26.400 --> 00:27:29.279 inventory to my house and I got to go and whatnot, 00:27:29.380 --> 00:27:32.079 four hours, five days a week, then the conversation 00:27:32.079 --> 00:27:33.940 changes, but I still got to go out and get this 00:27:33.940 --> 00:27:36.180 stuff. And I'm just sending it to Amazon. There's 00:27:36.180 --> 00:27:38.220 no point in me spending the extra four hours. 00:27:38.650 --> 00:27:40.789 five times a week doing a live stream when i 00:27:40.789 --> 00:27:42.650 can just box it up in an hour and never see it 00:27:42.650 --> 00:27:44.450 again never have to pack a single one of those 00:27:44.450 --> 00:27:47.309 but now if you tell me johnny once a week you 00:27:47.309 --> 00:27:49.529 know the tractor trailer backs up and i got everything 00:27:49.529 --> 00:27:50.910 i'm going to sell for the week and i don't have 00:27:50.910 --> 00:27:52.490 to go to the thrift stores i don't got to run 00:27:52.490 --> 00:27:54.430 the routes then that's a different argument to 00:27:54.430 --> 00:27:56.369 be made but yeah 100 that's why these people 00:27:56.369 --> 00:27:58.630 do it right because they just push volume and 00:27:58.630 --> 00:28:00.990 just to clarify you can make more than 2x on 00:28:00.990 --> 00:28:02.809 your whatnot channel if you bother to build up 00:28:02.809 --> 00:28:05.210 i'm not saying 2x all you're going to make but 00:28:05.210 --> 00:28:07.309 i'm saying out the gate you can comfortably make 00:28:07.309 --> 00:28:10.259 2x Just start now. But I mean, there's easier 00:28:10.259 --> 00:28:12.259 ways to do it unless you have the inventory coming 00:28:12.259 --> 00:28:14.339 to you. I think that is a big takeaway. Like 00:28:14.339 --> 00:28:16.920 there's a lot easier ways to do it instead of, 00:28:16.960 --> 00:28:20.039 you know, just sitting there and going to stores 00:28:20.039 --> 00:28:22.880 and then coming back and trying to sell it on 00:28:22.880 --> 00:28:25.480 whatnot. Like, dude, I've seen some crazy stuff. 00:28:25.619 --> 00:28:27.740 These people are in the thrift stores trying 00:28:27.740 --> 00:28:30.220 to sell stuff on whatnot. Like they're in the 00:28:30.220 --> 00:28:32.940 Goodwill bins. They sold it before they bought 00:28:32.940 --> 00:28:34.619 it. It's in their cart still. It's hilarious. 00:28:35.470 --> 00:28:37.470 Dude, there's better ways to live your life. 00:28:37.609 --> 00:28:39.690 Do we not care about our quality of life anymore, 00:28:39.829 --> 00:28:42.930 Johnny? I mean, some people just want to live 00:28:42.930 --> 00:28:47.109 at the best. Oh, my God, dude. Well, I'll tell 00:28:47.109 --> 00:28:48.630 you what. Sporting the Goodwill t -shirt, I'm 00:28:48.630 --> 00:28:52.670 a company man or gal. We have the biggest opportunity 00:28:52.670 --> 00:28:55.650 in reselling to create the life we want to live. 00:28:55.849 --> 00:28:59.690 And if starting this week. Johnny said, the only 00:28:59.690 --> 00:29:02.589 way your business goes forward is going to the 00:29:02.589 --> 00:29:06.049 Goodwill bins for all of your inventory. I quit. 00:29:06.369 --> 00:29:09.569 I'm out. It's not even up for debate. Deb's not 00:29:09.569 --> 00:29:10.970 even going to argue because I'm just going to 00:29:10.970 --> 00:29:13.349 go get a normal job. I thought the whole reason 00:29:13.349 --> 00:29:15.329 of resale was to get our life back, make a whole 00:29:15.329 --> 00:29:17.750 bunch of money in doing so, and be able to kind 00:29:17.750 --> 00:29:19.930 of do what we want, be our own boss, right? Not 00:29:19.930 --> 00:29:23.349 be tied down to this dreadful place you got to 00:29:23.349 --> 00:29:25.910 go. Ain't nobody in the comment section going 00:29:25.910 --> 00:29:28.069 to come tell me, I go to my Goodwill Bend and 00:29:28.069 --> 00:29:30.049 it smells like air fresheners and they got a 00:29:30.049 --> 00:29:33.509 coffee bar. No, they're like the landfills of 00:29:33.509 --> 00:29:37.529 America, basically. But it's crazy, dude. It's 00:29:37.529 --> 00:29:42.210 self -sabotaging the fact you take time away 00:29:42.210 --> 00:29:44.630 from your own life to not make a whole bunch 00:29:44.630 --> 00:29:46.769 of money. If you're telling me, if Donnie came 00:29:46.769 --> 00:29:48.779 to me and said, hey, Mike. you're going to be 00:29:48.779 --> 00:29:51.900 making 250k a year you just got to go to those 00:29:51.900 --> 00:29:55.299 bins five days a week dude i'm rolling up hazmat 00:29:55.299 --> 00:29:58.400 suit whatever it takes right i'll drag my own 00:29:58.400 --> 00:30:01.059 lazy boy in there but the problem is dude that 00:30:01.059 --> 00:30:03.500 ain't the case we're in the bins making pennies 00:30:03.500 --> 00:30:08.400 nickels dollars oh well your truckload thing 00:30:08.400 --> 00:30:09.819 is interesting to me because there's a lot of 00:30:09.819 --> 00:30:13.900 amazon sellers who do do truckloads and they 00:30:13.900 --> 00:30:17.170 tend to have buckets for things either If it 00:30:17.170 --> 00:30:18.990 goes in this bucket, it's going to FBA. If it 00:30:18.990 --> 00:30:20.849 goes in this bucket, it's going to Merchant Fulfilled. 00:30:20.910 --> 00:30:22.569 If it's going in this bucket, it's going to sell 00:30:22.569 --> 00:30:25.329 back your book. Or it's going in this bucket 00:30:25.329 --> 00:30:28.849 for wholesaler A through Z. Or it's going in 00:30:28.849 --> 00:30:33.769 this bucket to be cross -listed. And some of 00:30:33.769 --> 00:30:36.829 them actually are doing whatnot in addition. 00:30:36.950 --> 00:30:38.930 That's a bucket too. It's a whatnot bucket, right? 00:30:39.109 --> 00:30:40.789 So they're doing it all with the truckload scenario 00:30:40.789 --> 00:30:43.910 because they signed up to do it all. How do we 00:30:43.910 --> 00:30:46.210 make money on? pretty much everything that rolls 00:30:46.210 --> 00:30:52.369 up into the truck and more power too um and that's 00:30:52.369 --> 00:30:54.650 it dude that's self -sabotage you think you can 00:30:54.650 --> 00:30:57.069 do it all you think you can do all the platforms 00:30:57.069 --> 00:30:59.190 right why do you think i just stay in my little 00:30:59.190 --> 00:31:01.390 amazon lane and every time something hits the 00:31:01.390 --> 00:31:04.549 fan and everybody runs away because this is the 00:31:04.549 --> 00:31:07.180 end of times I just keep doing what I'm doing 00:31:07.180 --> 00:31:11.640 because you said it early on. You take time and 00:31:11.640 --> 00:31:14.180 effort away from something that's actually working. 00:31:14.359 --> 00:31:17.420 I have the proof of concept that Amazon works. 00:31:17.660 --> 00:31:19.759 And then one little thing happens in the universe 00:31:19.759 --> 00:31:21.859 and all of a sudden we got to blow everything 00:31:21.859 --> 00:31:24.240 up or maybe something fancy comes along. And 00:31:24.240 --> 00:31:26.359 hey, I like talking to people. I got a YouTube 00:31:26.359 --> 00:31:28.200 channel. Mike, if you did whatnot, you'd be great. 00:31:28.299 --> 00:31:31.599 I probably would be great. But listen, it's going 00:31:31.599 --> 00:31:33.519 to take too much time and effort. And I'm going 00:31:33.519 --> 00:31:36.140 to make money. I don't want to be. I don't want 00:31:36.140 --> 00:31:38.299 to spend more effort. People don't factor in 00:31:38.299 --> 00:31:40.160 every hour that you're doing the show. It's probably 00:31:40.160 --> 00:31:42.740 an hour of packing. How much are we sourcing 00:31:42.740 --> 00:31:45.140 per hour, right? And that's if you don't do photos 00:31:45.140 --> 00:31:48.519 and do the pre -sale show stuff. And that doesn't 00:31:48.519 --> 00:31:50.700 include your advertising. And then you tack on 00:31:50.700 --> 00:31:52.759 what the rest of us do, which is sourcing. All 00:31:52.759 --> 00:31:54.460 of us do the sourcing part, whether it's coming 00:31:54.460 --> 00:31:56.759 to you, buying online, you're going to the bins, 00:31:56.980 --> 00:31:58.500 you're going to the thrift, you're going to the 00:31:58.500 --> 00:32:01.910 yard sale. It doesn't matter. Is extra work tacked 00:32:01.910 --> 00:32:04.529 off what I know that I'm currently doing in addition? 00:32:05.869 --> 00:32:11.349 And is the work worth it? It can be. Is it worth 00:32:11.349 --> 00:32:14.650 it to me? No. I don't think it is for me personally. 00:32:14.789 --> 00:32:17.589 I'm not speaking to everyone in the world. I'm 00:32:17.589 --> 00:32:20.029 speaking for myself. The same with me with eBay, 00:32:20.170 --> 00:32:22.630 dude. Like, I got probably 20 things that are 00:32:22.630 --> 00:32:25.269 decent items to list on eBay, right? So it's 00:32:25.269 --> 00:32:27.970 just like... I don't even look at the books that 00:32:27.970 --> 00:32:30.089 don't have ISBNs no more, Johnny. I don't, I 00:32:30.089 --> 00:32:32.769 could care less. Like they would go in your trash 00:32:32.769 --> 00:32:35.210 bucket. They do. They don't even come out. I'll 00:32:35.210 --> 00:32:37.410 open the box and I stack them before I scan them. 00:32:37.450 --> 00:32:38.789 And I'm just like, well, this ain't coming out 00:32:38.789 --> 00:32:40.750 the box. I don't even waste time with it, but 00:32:40.750 --> 00:32:43.410 to somebody else, right? Like maybe I would spend 00:32:43.410 --> 00:32:46.230 time with your trash bucket. Exactly. But for 00:32:46.230 --> 00:32:48.710 me, I'm just like, nah, this ain't, this is not 00:32:48.710 --> 00:32:50.630 for my business model. So I keep it moving. But 00:32:50.630 --> 00:32:53.069 the problem is the person that isn't getting 00:32:53.069 --> 00:32:58.650 results on Amazon. or ebay they split their time 00:32:58.650 --> 00:33:00.410 and you wind up with two things that are completely 00:33:00.410 --> 00:33:02.549 half -assed and not done right instead of one 00:33:02.549 --> 00:33:05.509 thing that you're just focused on and just being 00:33:05.509 --> 00:33:07.529 the ebay person or just being the amazon person 00:33:07.529 --> 00:33:10.230 and getting real results on that platform you 00:33:10.230 --> 00:33:12.630 sell yourself short you self -sabotage 100 by 00:33:12.630 --> 00:33:15.319 trying to be the person's like I got to diversify 00:33:15.319 --> 00:33:17.339 because, oh, my God, there's something that's 00:33:17.339 --> 00:33:19.480 going to happen. I better diversify. Like, all 00:33:19.480 --> 00:33:21.019 right, we're not, you know, this ain't mutual 00:33:21.019 --> 00:33:23.059 funds here. This is a business. You need to double 00:33:23.059 --> 00:33:25.180 down on what's working. If eBay works for you, 00:33:25.200 --> 00:33:27.380 then let's go. Let's ramp it up. If Amazon works 00:33:27.380 --> 00:33:28.619 for you, let's go. If whatnot works for you, 00:33:28.640 --> 00:33:33.579 go on whatnot. And here's probably one we didn't 00:33:33.579 --> 00:33:36.220 mention about self -sabotage, and we would. And 00:33:36.220 --> 00:33:38.039 it kind of goes into what we're talking about. 00:33:38.279 --> 00:33:41.059 Is it worth our time? Some people say get an 00:33:41.059 --> 00:33:44.539 employee for that. And I see them do that and 00:33:44.539 --> 00:33:48.000 they assign this employee to either take on a 00:33:48.000 --> 00:33:51.099 task that they don't want to do or they assign 00:33:51.099 --> 00:33:54.880 it to a potential money making expansion of their 00:33:54.880 --> 00:33:59.220 business or they've assigned it what I consider 00:33:59.220 --> 00:34:01.859 the proper way first. And this is for new employees. 00:34:01.940 --> 00:34:03.619 I'm not talking about the guys already established. 00:34:04.359 --> 00:34:07.380 They assign it to I cannot complete all of my 00:34:07.380 --> 00:34:10.320 work in one day. I am tapped out myself. There 00:34:10.320 --> 00:34:12.909 are no extra minutes. I need somebody to give 00:34:12.909 --> 00:34:16.710 me some minutes back. That's when you should 00:34:16.710 --> 00:34:18.789 get an employee, in my opinion, versus these 00:34:18.789 --> 00:34:21.570 other two. I want them to take on the task I 00:34:21.570 --> 00:34:23.949 hate, and I want them to take on the task that 00:34:23.949 --> 00:34:26.010 is a potential money -making revenue stream that 00:34:26.010 --> 00:34:29.570 I have no time to explore myself. Or I've written 00:34:29.570 --> 00:34:32.050 a rough draft, and here you go, employee. Go 00:34:32.050 --> 00:34:34.869 forth and make me millions off my $20 an hour 00:34:34.869 --> 00:34:38.480 I pay you. It's so true, dude. It's so true with 00:34:38.480 --> 00:34:40.079 the employees and resellers. It's just like, 00:34:40.119 --> 00:34:42.840 come on, guys. Like, guys and girls. That's self 00:34:42.840 --> 00:34:45.460 -sabotage, in my opinion. It is. Like, we got 00:34:45.460 --> 00:34:48.139 to be realist when it comes to this stuff. And 00:34:48.139 --> 00:34:51.440 sometimes, at the end of the day, most of the 00:34:51.440 --> 00:34:53.880 times in our businesses here as solo entrepreneurs, 00:34:54.360 --> 00:34:57.500 we are the problem, but we also are the solution. 00:34:57.739 --> 00:35:00.019 Yes. So you just got to kind of, I don't know, 00:35:00.019 --> 00:35:02.039 man, you got to, it's tough. We're never, none 00:35:02.039 --> 00:35:05.619 of us are 100 % right. And to avoid comment blasting, 00:35:05.659 --> 00:35:07.039 because I already know we're going to get blasted. 00:35:07.059 --> 00:35:08.420 That's all right. When you're a little bit more 00:35:08.420 --> 00:35:10.139 established, you got a couple of employees under 00:35:10.139 --> 00:35:12.420 your belt and then you want to explore. OK, I 00:35:12.420 --> 00:35:14.400 want to send an employee to go down this rabbit 00:35:14.400 --> 00:35:17.639 hole. You have the luxury to do so. Sure. Or 00:35:17.639 --> 00:35:21.579 I you know what? I can't do another single photo. 00:35:21.679 --> 00:35:23.739 I've taken a million of them by now. I need that 00:35:23.739 --> 00:35:26.579 extra person. I've earned this. I'm bringing 00:35:26.579 --> 00:35:28.880 on the employee to take it out of my life because 00:35:28.880 --> 00:35:31.820 me personally, I hate photos. I hate them. All 00:35:31.820 --> 00:35:33.679 right. Well, since Johnny put me on a hotspot, 00:35:33.719 --> 00:35:35.039 I'm going to put him in a hotspot. This will 00:35:35.039 --> 00:35:36.900 definitely get them blasted in the comments. 00:35:36.960 --> 00:35:40.880 Oh, let's go. Let's comment, Rage. How much money, 00:35:41.119 --> 00:35:43.840 bottom line, extra income every single month 00:35:43.840 --> 00:35:46.739 after taxes, buy costs, everything. So is it 00:35:46.739 --> 00:35:48.880 extra money you have coming in from your business? 00:35:49.079 --> 00:35:51.179 Do you think somebody should have before they 00:35:51.179 --> 00:35:55.059 hire a part -time 20 -hour a week employee? Oh, 00:35:55.059 --> 00:35:59.579 part -time? Yeah. I would say three months. Three 00:35:59.579 --> 00:36:02.039 months to factor everything in on a part time 00:36:02.039 --> 00:36:04.539 level. Three months of you're saying like covered 00:36:04.539 --> 00:36:11.000 expenses. No, I'm going to take this back. Sorry, 00:36:11.159 --> 00:36:13.619 I misunderstood the scenario. So you want to 00:36:13.619 --> 00:36:16.320 have at least three months of all of your expenses 00:36:16.320 --> 00:36:20.179 paid free and clear, plus three additional months 00:36:20.179 --> 00:36:23.869 of their salary. For a total of three months, 00:36:23.989 --> 00:36:26.349 bringing them in and to cover all your expenses. 00:36:26.630 --> 00:36:28.369 So whatever you're going to pay that employee, 00:36:28.469 --> 00:36:31.130 that's 20 hours a week times three months, plus 00:36:31.130 --> 00:36:36.250 three months saved up of your business and personal 00:36:36.250 --> 00:36:39.349 expenses in the bank for a part -timer. Full 00:36:39.349 --> 00:36:41.690 -timer, well, add another three months to that 00:36:41.690 --> 00:36:44.710 at 40 hours. Okay, now the second question that 00:36:44.710 --> 00:36:46.739 kind of follows that one up. How many, what do 00:36:46.739 --> 00:36:49.159 you think the percentage of resellers that actually 00:36:49.159 --> 00:36:52.480 hire an employee meet those requirements? None. 00:36:56.739 --> 00:37:00.219 People pull the trigger early on employees. I 00:37:00.219 --> 00:37:02.579 get why. Like, okay, once they bring them on 00:37:02.579 --> 00:37:07.219 and make so much money, screw it. And we'll play 00:37:07.219 --> 00:37:09.340 this race game, right? I got a month of their 00:37:09.340 --> 00:37:12.789 salary in the bank. Not even my own expenses 00:37:12.789 --> 00:37:15.090 in there. We're just going to roll the dice and 00:37:15.090 --> 00:37:17.010 see what happens. And you know what happens when 00:37:17.010 --> 00:37:19.130 you roll the dice? Some of the time it works 00:37:19.130 --> 00:37:21.869 and some of the time it don't. That's just what 00:37:21.869 --> 00:37:28.289 the dice giveth, man. Now, if you take a minute 00:37:28.289 --> 00:37:31.829 to say, for every person I bring in, I compound 00:37:31.829 --> 00:37:36.449 my business X amount of time. Unless you know 00:37:36.449 --> 00:37:39.329 this, you're guessing. Because it's going to 00:37:39.329 --> 00:37:42.469 be unforeseeable because maybe they're a bad 00:37:42.469 --> 00:37:45.030 employee and you're going to have turnover. Nobody 00:37:45.030 --> 00:37:46.969 factors in turnover on their first employee. 00:37:47.070 --> 00:37:48.570 They just think, I'm going to get this individual 00:37:48.570 --> 00:37:49.849 once I hire them. And they're going to be great. 00:37:50.010 --> 00:37:50.750 They're going to be there. And they're going 00:37:50.750 --> 00:37:53.510 to stay forever and ever. Yeah. Or there's a 00:37:53.510 --> 00:37:56.030 conflict. Like, you don't know that they're a 00:37:56.030 --> 00:38:00.210 undercover alcoholic until this one day. And 00:38:00.210 --> 00:38:02.110 you question everything that they've touched. 00:38:02.429 --> 00:38:08.900 Yeah. Another thing to consider is. It's really 00:38:08.900 --> 00:38:11.039 tempting to bring on, again, it's so tempting 00:38:11.039 --> 00:38:12.940 to bring on an employee for the thing you hate 00:38:12.940 --> 00:38:15.219 the most. But is it the thing that you bring 00:38:15.219 --> 00:38:17.340 them in on going to make you the most amount 00:38:17.340 --> 00:38:22.619 of money? Now, taking on tasks like shipping 00:38:22.619 --> 00:38:26.360 and photography to free you up to make the money 00:38:26.360 --> 00:38:29.239 is also a consideration if that's what's being 00:38:29.239 --> 00:38:31.929 done. If you're just bringing them in. and no 00:38:31.929 --> 00:38:34.590 additional time is being set to make more money, 00:38:34.670 --> 00:38:36.769 that's a bad reason. Like if I were to bring 00:38:36.769 --> 00:38:39.730 in a photographer just to free me up from photography 00:38:39.730 --> 00:38:42.889 and nothing were to change, I'm actually paying 00:38:42.889 --> 00:38:46.570 negative dollars. I'm giving my business negative 00:38:46.570 --> 00:38:49.489 dollars. I've gained nothing. But if I'm bringing 00:38:49.489 --> 00:38:52.170 them in to do photos so that frees me up to source 00:38:52.170 --> 00:38:55.469 more or be able to put up more listings, my business 00:38:55.469 --> 00:38:58.889 will grow versus go worse than it was when I 00:38:58.889 --> 00:39:01.510 brought in the photographer. Yeah, self -sabotage 00:39:01.510 --> 00:39:03.429 when it comes to hiring an employee is 100 % 00:39:03.429 --> 00:39:05.670 real in the reselling space. And I guess the 00:39:05.670 --> 00:39:07.190 last one we're going to leave you all with this 00:39:07.190 --> 00:39:10.269 episode, I'm going to throw it out there. Comparing 00:39:10.269 --> 00:39:12.670 yourself to other resellers. Oh, that's a good 00:39:12.670 --> 00:39:15.010 one. I mean, dude, I mean, I used to be this 00:39:15.010 --> 00:39:16.849 way because I'm in the YouTube space and I used 00:39:16.849 --> 00:39:19.150 to compare myself to other YouTubers that resell 00:39:19.150 --> 00:39:21.070 or booksellers. Now I could care less, right? 00:39:21.130 --> 00:39:23.190 Like I'm only focused on what I got going on, 00:39:23.289 --> 00:39:25.510 but I know a lot of people out there get down 00:39:25.510 --> 00:39:29.619 and out. I try to stray away from posting numbers 00:39:29.619 --> 00:39:32.099 as much because I don't want to turn off somebody 00:39:32.099 --> 00:39:34.360 that just started or somebody that maybe has 00:39:34.360 --> 00:39:35.920 been doing it for a long time and not getting 00:39:35.920 --> 00:39:38.599 results. But I have to be transparent in what 00:39:38.599 --> 00:39:40.820 I do. I got to put my numbers out there. And 00:39:40.820 --> 00:39:43.179 I just think you can easily get stuck down this 00:39:43.179 --> 00:39:45.519 rabbit hole of, well, why is Johnny making X 00:39:45.519 --> 00:39:47.159 amount of dollars when I'm working more than 00:39:47.159 --> 00:39:49.300 him? Or why is Johnny making X amount of dollars? 00:39:49.360 --> 00:39:51.440 I got more items listed than him. Why am I working 00:39:51.440 --> 00:39:54.079 harder and I seem like I'm making pennies as 00:39:54.079 --> 00:39:56.940 opposed to their... $100 bills. What you see 00:39:56.940 --> 00:40:00.519 95 % of the time isn't the real picture of what's 00:40:00.519 --> 00:40:02.599 going on behind the scenes, right? Like we talk 00:40:02.599 --> 00:40:06.820 about an Amazon land, some... This guy, Benny, 00:40:06.920 --> 00:40:08.699 he comments on a lot of my YouTube videos. I 00:40:08.699 --> 00:40:10.480 made a post saying, you know, how I finally broke 00:40:10.480 --> 00:40:13.380 20K a month in sales. And he said, is this gross 00:40:13.380 --> 00:40:16.079 or net? And I was like, yeah, that's like the 00:40:16.079 --> 00:40:17.780 big thing, right? In Amazon land, you just see, 00:40:17.880 --> 00:40:19.820 oh, well, my sales, my bars. Oh, gross dollars. 00:40:19.940 --> 00:40:21.699 Everybody talks in gross dollars. Yeah, yeah. 00:40:21.760 --> 00:40:23.440 So it's like, you got to take everything with 00:40:23.440 --> 00:40:25.380 a grain of salt at the end of the day. Don't 00:40:25.380 --> 00:40:27.539 compare yourself to other people. Johnny, final 00:40:27.539 --> 00:40:32.079 thoughts before we wrap it up. Think before you 00:40:32.079 --> 00:40:35.679 act. Because if you take the minute to really 00:40:35.679 --> 00:40:38.960 think about it and or get other people's thoughts 00:40:38.960 --> 00:40:43.960 before you execute something that may set you 00:40:43.960 --> 00:40:46.760 back six months, it will do you a better service 00:40:46.760 --> 00:40:49.340 than you just acting. And as we stated earlier, 00:40:49.500 --> 00:40:53.139 roll the dice to see what happens. Patience is 00:40:53.139 --> 00:40:55.719 a virtue in this business, but that virtue actually 00:40:55.719 --> 00:40:58.460 comes with dollars in the bank account. It's 00:40:58.460 --> 00:41:04.579 a marathon, not a race. you gotta take it slow 00:41:04.579 --> 00:41:07.500 and steady it's really tempting just to pour 00:41:07.500 --> 00:41:11.860 gasoline and see what happens i'm saying leave 00:41:11.860 --> 00:41:14.000 the gas tank in the shed ladies and gentlemen 00:41:14.000 --> 00:41:18.699 and just be patient find yourself a deb somebody 00:41:18.699 --> 00:41:20.460 that's on the outside that can give things a 00:41:20.460 --> 00:41:23.170 second look And I promise you, they will save 00:41:23.170 --> 00:41:25.090 you from making some terrible decisions in your 00:41:25.090 --> 00:41:27.230 business. You know, it doesn't have to be a significant 00:41:27.230 --> 00:41:29.389 other. It could be Elle. It could be me. It could 00:41:29.389 --> 00:41:31.510 be Johnny. It could be somebody, you know, that 00:41:31.510 --> 00:41:34.030 has some business mentality behind them. But 00:41:34.030 --> 00:41:36.750 don't always think you're right because most 00:41:36.750 --> 00:41:38.889 of the time you are not. That's going to do it 00:41:38.889 --> 00:41:40.510 for this week's episode. We'll talk to you all 00:41:40.510 --> 00:41:43.619 next week. Thanks for listening to another episode 00:41:43.619 --> 00:41:46.239 of the Reseller's Mindset Podcast. Today's full 00:41:46.239 --> 00:41:48.519 episode and all previous episodes are available 00:41:48.519 --> 00:41:51.019 to all YouTube members along with the weekly 00:41:51.019 --> 00:41:53.780 Zoom call and private Discord. Head on over to 00:41:53.780 --> 00:41:56.559 youtube .com backslash to use book guy and consider 00:41:56.559 --> 00:41:58.599 joining for as little as $2 .99 a month.