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 --> 00:00:06.580 as the Used Book Guy on YouTube, along with my 00:00:06.580 --> 00:00:08.599 friend and fellow full -time reseller, Johnny 00:00:08.599 --> 00:00:11.179 B. We help people start and grow their reselling 00:00:11.179 --> 00:00:13.580 businesses from the ground up. We also have a 00:00:13.580 --> 00:00:15.580 weekly Zoom call and private Discord for all 00:00:15.580 --> 00:00:18.480 YouTube members. Head on over to youtube .com 00:00:18.480 --> 00:00:20.820 backslash usedbookguy to join the channel and 00:00:20.820 --> 00:00:23.440 gain access to the full -length podcast, Zoom 00:00:23.440 --> 00:00:26.120 call, and private Discord today. Let's get into 00:00:26.120 --> 00:00:28.469 this week's episode. What is up, everybody? Welcome 00:00:28.469 --> 00:00:31.949 back to another Reseller's Mindset podcast episode. 00:00:32.049 --> 00:00:34.109 Mike next to Johnny. Johnny's laughing because 00:00:34.109 --> 00:00:36.649 we had to do that twice. I completely botched 00:00:36.649 --> 00:00:39.509 the first intro and that's a -okay. My question 00:00:39.509 --> 00:00:42.450 for Johnny is, now that reselling has become 00:00:42.450 --> 00:00:45.890 more cool, I guess you would say more hip, has 00:00:45.890 --> 00:00:48.770 it lost the profitability side of things? And 00:00:48.770 --> 00:00:51.100 I kind of say this because... I'm out in the 00:00:51.100 --> 00:00:53.079 thrift stores every single week and I see a lot 00:00:53.079 --> 00:00:55.640 of younger kids wearing the vintage style, you 00:00:55.640 --> 00:00:58.020 know, shirts and clothes, even the vintage style 00:00:58.020 --> 00:01:00.579 furniture. That type of stuff has seemed like 00:01:00.579 --> 00:01:04.760 a huge resurgence almost. And I think it's tough 00:01:04.760 --> 00:01:07.900 to balance the cool with the profitability on 00:01:07.900 --> 00:01:09.920 the back end. But I will say this, the stuff 00:01:09.920 --> 00:01:12.680 I see the kids going for, right, like the vintage 00:01:12.680 --> 00:01:16.959 tees and the type of furniture and the weird 00:01:16.959 --> 00:01:19.780 like art style type items these kids are buying. 00:01:20.299 --> 00:01:23.159 It's actually profitable and in demand, right? 00:01:23.239 --> 00:01:25.280 They're not worried about the junk me and you 00:01:25.280 --> 00:01:27.319 are after. You never see the kids going in there 00:01:27.319 --> 00:01:29.599 chasing down the books. They're always like going 00:01:29.599 --> 00:01:31.480 to the clothing racks and flying through the 00:01:31.480 --> 00:01:33.739 clothes to see what they can find. I'm curious 00:01:33.739 --> 00:01:36.480 what your take is on how it's, I think it's kind 00:01:36.480 --> 00:01:39.319 of shifted here over the past year. I think reselling 00:01:39.319 --> 00:01:42.180 is as cool as it's ever been, but I will say, 00:01:42.200 --> 00:01:44.340 you know, at the end of the day, I don't resell 00:01:44.340 --> 00:01:46.959 to be cool. I resell to make money and pay the 00:01:46.959 --> 00:01:49.879 bills. I'm going to lean with it's more on the 00:01:49.879 --> 00:01:53.379 cool side and more so on the social club side 00:01:53.379 --> 00:01:57.680 within the cool sphere. I see it as more of a 00:01:57.680 --> 00:02:00.819 not just look at me Instagram post, but the types 00:02:00.819 --> 00:02:02.739 of resellers, the newer resellers I'm seeing 00:02:02.739 --> 00:02:07.620 coming in. And I don't, well, maybe disrespectfully, 00:02:07.640 --> 00:02:11.159 maybe not disrespectfully, I'm going to say they're 00:02:11.159 --> 00:02:15.550 not business owners. And I know this. And when 00:02:15.550 --> 00:02:17.770 I'm in groups and try to treat them as business 00:02:17.770 --> 00:02:22.689 owners, I have to stop. And just because they're 00:02:22.689 --> 00:02:26.090 not and I'm wasting my time by trying to, I don't 00:02:26.090 --> 00:02:28.590 know, impart some wisdom onto them. They're not 00:02:28.590 --> 00:02:30.590 there for the wisdom. They're there to hang out 00:02:30.590 --> 00:02:33.250 and sell cool things or quote unquote cool things 00:02:33.250 --> 00:02:39.750 and not run a business. Can you have both? That's 00:02:39.750 --> 00:02:43.199 a tall order. I've seen it done, but usually 00:02:43.199 --> 00:02:45.860 they find out they make more money one or the 00:02:45.860 --> 00:02:48.139 other, and the other thing takes a backseat, 00:02:48.199 --> 00:02:50.620 especially for like in YouTube reseller land 00:02:50.620 --> 00:02:53.900 or Instagram reseller land, like they have an 00:02:53.900 --> 00:02:57.860 Instagram store and all that. But also with the 00:02:57.860 --> 00:03:01.479 rise with live selling, again, more social club 00:03:01.479 --> 00:03:04.560 things. Hi, Jim, you buy from me a lot. I don't 00:03:04.560 --> 00:03:07.580 know Jim on eBay who buys from me a lot, and 00:03:07.580 --> 00:03:09.439 I don't say hi to him either. I just take Jim's 00:03:09.439 --> 00:03:14.310 money. So I do think there's a social club coolness 00:03:14.310 --> 00:03:17.530 factor beyond the swag, but the swag stuff I 00:03:17.530 --> 00:03:19.150 think has been around a lot longer. Like, hey, 00:03:19.169 --> 00:03:22.129 look what I got. Cool score. Yeah, yeah. I think 00:03:22.129 --> 00:03:25.229 the live sales kind of changed the game completely 00:03:25.229 --> 00:03:27.650 when it comes to the overall landscape because 00:03:27.650 --> 00:03:30.889 you're like a personality, right? Like you're 00:03:30.889 --> 00:03:33.069 a TV star almost. And these people come to every 00:03:33.069 --> 00:03:35.569 single one of your live sales and they buy something 00:03:35.569 --> 00:03:37.669 from you, even if they really don't want it or 00:03:37.669 --> 00:03:39.780 need it. And they're willing to pay whatever 00:03:39.780 --> 00:03:42.240 it takes to get the item specifically from you. 00:03:42.379 --> 00:03:44.759 And I don't think it's necessarily a bad thing. 00:03:44.860 --> 00:03:46.879 I will say a lot of people, especially as we 00:03:46.879 --> 00:03:50.780 trend downwards with this IRS requirements where 00:03:50.780 --> 00:03:52.900 like this year it's going to be like $2 ,500 00:03:52.900 --> 00:03:55.840 or whatever. I think a lot of the cool kids are 00:03:55.840 --> 00:03:58.500 going to get impacted by this because before 00:03:58.500 --> 00:04:00.219 it used to be $20 ,000. You could sell a lot 00:04:00.219 --> 00:04:02.780 of cool stuff and be under that threshold. So 00:04:02.780 --> 00:04:04.699 theoretically, you wouldn't have to report that 00:04:04.699 --> 00:04:08.810 income to the IRS and pay taxes on it. That is 00:04:08.810 --> 00:04:11.090 kind of going to, you know, make the cool kids 00:04:11.090 --> 00:04:13.689 either realize, all right, this needs to be treated 00:04:13.689 --> 00:04:17.029 like a business or just altogether give up with, 00:04:17.050 --> 00:04:19.769 you know, the idea of live selling and selling 00:04:19.769 --> 00:04:21.889 the cool, expensive items. Because, I mean, there's 00:04:21.889 --> 00:04:24.470 shirts out there that will put you over twenty 00:04:24.470 --> 00:04:26.209 five hundred dollars. You find one of these, 00:04:26.269 --> 00:04:28.970 you know, super rare T -shirts. There you go. 00:04:29.029 --> 00:04:30.930 Right. You got to pay taxes on that. And we don't 00:04:30.930 --> 00:04:32.709 think about that when we find it. And the social 00:04:32.709 --> 00:04:35.350 media aspect of it, like Johnny was saying, right, 00:04:35.449 --> 00:04:38.129 like it's. It's cool to have a large following 00:04:38.129 --> 00:04:41.389 on social media. It's cool to wake up to have 00:04:41.389 --> 00:04:44.089 DMs every single day. It's cool to have a million 00:04:44.089 --> 00:04:47.790 likes on one of your Instagram reels. So I think 00:04:47.790 --> 00:04:49.329 we're only going to see more of that because 00:04:49.329 --> 00:04:51.629 the market is there still to make a lot of money 00:04:51.629 --> 00:04:56.069 reselling. It's just, I mean, I appreciate seeing 00:04:56.069 --> 00:04:58.990 younger people get involved in reselling. Like, 00:04:58.990 --> 00:05:01.189 and I appreciate the fact that stuff they want 00:05:01.189 --> 00:05:04.240 to sell. to them is in style and they actually 00:05:04.240 --> 00:05:07.019 make good money on it right it's not like it's 00:05:07.019 --> 00:05:09.100 just junky stuff they're chasing after i mean 00:05:09.100 --> 00:05:11.639 these are 100 plus dollar shirts the furniture 00:05:11.639 --> 00:05:14.899 um anything you can think of there's there's 00:05:14.899 --> 00:05:17.680 almost a market for it now because retro and 00:05:17.680 --> 00:05:21.319 vintage is so hot in any facet of imagination 00:05:21.319 --> 00:05:23.800 that people are making a lot of money off stuff 00:05:23.800 --> 00:05:25.899 that me and johnny probably wouldn't think is 00:05:25.899 --> 00:05:28.040 cool right like we're i don't know i'm never 00:05:28.040 --> 00:05:30.100 going to pay hundreds of dollars for a t -shirt 00:05:30.100 --> 00:05:32.040 but like There's people out there willing to 00:05:32.040 --> 00:05:34.079 do it because it's cool to have the original 00:05:34.079 --> 00:05:37.500 Jurassic Park t -shirt that one of the crew members 00:05:37.500 --> 00:05:41.879 had on set when they were filming it. What annoys 00:05:41.879 --> 00:05:45.860 me, and it's a subset of a subset, is there's 00:05:45.860 --> 00:05:50.639 resellers who are listing 10 to 20 items a day, 00:05:50.740 --> 00:05:54.600 and they're barely scraping by, but they're okay 00:05:54.600 --> 00:05:58.500 with it, and they have no aspirations to turn 00:05:58.500 --> 00:06:02.000 this into... a business and grow their business. 00:06:02.459 --> 00:06:05.579 They just want to do that. Those are the people 00:06:05.579 --> 00:06:07.500 that annoy me the most. And I'm like, you're 00:06:07.500 --> 00:06:09.560 wasting my time. If you're going to treat this 00:06:09.560 --> 00:06:11.339 unprofessionally, why are you in a professional 00:06:11.339 --> 00:06:13.959 group to learn and grow and get better and make 00:06:13.959 --> 00:06:17.620 your business better? Get the F out. I think 00:06:17.620 --> 00:06:21.019 you're right. I think what happens here is that 00:06:21.019 --> 00:06:24.839 these old, old timers, not necessarily age wise, 00:06:24.959 --> 00:06:28.310 but like your resale business is old. in like 00:06:28.310 --> 00:06:30.589 the retrospect so an old reselling business would 00:06:30.589 --> 00:06:32.050 probably be somebody that's in business for like 00:06:32.050 --> 00:06:33.810 two plus years we'll say just for the sake of 00:06:33.810 --> 00:06:37.290 this argument is that they're grinding and they're 00:06:37.290 --> 00:06:40.269 selling the junk right like the menace to society 00:06:40.269 --> 00:06:43.389 cds and like they're making like three four bucks 00:06:43.389 --> 00:06:45.889 a piece and then some 20 year old hops on whatnot 00:06:45.889 --> 00:06:50.269 and he's got a hundred vintage band tees that 00:06:50.269 --> 00:06:53.000 he paid you know a thousand dollars for that 00:06:53.000 --> 00:06:55.500 he's going to sell for ten thousand dollars and 00:06:55.500 --> 00:06:57.579 it just instantly creates like this saltiness 00:06:57.579 --> 00:07:00.060 factor right like you're instantly salty that 00:07:00.060 --> 00:07:03.319 you've been working for over two years you're 00:07:03.319 --> 00:07:06.360 still making nickels and dimes and this kid his 00:07:06.360 --> 00:07:09.459 first whatnot stream or maybe he launches ebay 00:07:09.459 --> 00:07:12.079 store and you get recommended his youtube channel 00:07:12.079 --> 00:07:15.360 or his instagram or his tiktok and he's selling 00:07:15.360 --> 00:07:18.259 like 100x what you are every single day i think 00:07:18.259 --> 00:07:22.500 that kind of creates the the I guess, disconnection 00:07:22.500 --> 00:07:25.319 of people like me and Johnny who've been doing 00:07:25.319 --> 00:07:27.620 this for a while, but we actually make money. 00:07:27.680 --> 00:07:29.740 So we're not salty. We're happy for those people. 00:07:29.819 --> 00:07:31.319 But the people that aren't making money that 00:07:31.319 --> 00:07:33.319 have been doing this for a while, and they see 00:07:33.319 --> 00:07:35.279 the kid run in when the thrift store opens and 00:07:35.279 --> 00:07:37.000 run straight to the clothing rack. I've literally 00:07:37.000 --> 00:07:40.240 seen this. They're like, oh man, what a scumbag. 00:07:40.360 --> 00:07:43.779 I think you're just salty at the end of the day. 00:07:43.819 --> 00:07:47.959 I think you are 100 % envious that some young 00:07:47.959 --> 00:07:51.519 kid who's... basically following the trend what's 00:07:51.519 --> 00:07:53.600 going on in society what people actually want 00:07:53.600 --> 00:07:55.339 which you should be doing in reselling right 00:07:55.339 --> 00:07:57.660 like you should be keeping up with things you 00:07:57.660 --> 00:08:00.680 should be making changes but i don't know man 00:08:00.680 --> 00:08:04.579 it's i think it's like i'm it's crazy the the 00:08:04.579 --> 00:08:06.660 subset i'm talking about we see it very little 00:08:06.660 --> 00:08:08.620 in your group because it's smaller i see it a 00:08:08.620 --> 00:08:10.300 little bit in tax group because it's a larger 00:08:10.300 --> 00:08:13.639 group they're paying this membership fee 30 some 00:08:13.639 --> 00:08:18.209 odd dollars um And they they log on and they 00:08:18.209 --> 00:08:21.389 go, hey, look what I got. It's cool. Blah, blah, 00:08:21.430 --> 00:08:24.430 blah. For cool reason. And I'll do this for the 00:08:24.430 --> 00:08:26.870 whole hall. And this is after hours, not during 00:08:26.870 --> 00:08:28.850 any call, because he's got a 24 hour room over 00:08:28.850 --> 00:08:31.250 there. I'm sitting there and wanted to pull my 00:08:31.250 --> 00:08:33.330 hair out or reach through this computer screen 00:08:33.330 --> 00:08:38.970 and strangle this person. And then it just transcends 00:08:38.970 --> 00:08:42.539 to this is my life. hears me talking about my 00:08:42.539 --> 00:08:44.559 life has nothing to do with business it's just 00:08:44.559 --> 00:08:47.080 their personal life and it's this weird social 00:08:47.080 --> 00:08:49.700 aspect like they don't have friends in real life 00:08:49.700 --> 00:08:52.179 or we're there to listen to them and it's like 00:08:52.179 --> 00:08:55.100 a cheap form of therapy and i hate it i hate 00:08:55.100 --> 00:08:56.620 it i hate it i hate it because it has nothing 00:08:56.620 --> 00:08:58.779 to do with business if you need professional 00:08:58.779 --> 00:09:01.220 help please go get professional help because 00:09:01.220 --> 00:09:05.419 the reselling groups are not for that i'm sorry 00:09:05.419 --> 00:09:09.190 they're not um And is it everyone? No, it's a 00:09:09.190 --> 00:09:11.649 very small subset of people, but I do see it. 00:09:12.250 --> 00:09:16.509 And I guess the people like you post and I'm 00:09:16.509 --> 00:09:18.529 guilty of this. I post gifs and other people 00:09:18.529 --> 00:09:21.830 post pictures of cats. I don't care about pictures 00:09:21.830 --> 00:09:23.610 of your cats. That has nothing to do with the 00:09:23.610 --> 00:09:26.049 business, but I'm very business focused and I 00:09:26.049 --> 00:09:28.669 get it. People do have a life and there is some 00:09:28.669 --> 00:09:31.629 camaraderie that goes along with like sports 00:09:31.629 --> 00:09:34.230 ball, which you guys talk about sports ball and 00:09:34.230 --> 00:09:36.289 I'm okay with that, but it's quick. It's like. 00:09:36.549 --> 00:09:39.450 10 seconds long, good, yay, team did well, move 00:09:39.450 --> 00:09:42.070 on, back to business. These people, it's not. 00:09:42.210 --> 00:09:46.009 It's the whole segment, last an hour, 45 minutes. 00:09:46.049 --> 00:09:49.210 It's redonkulous long and I hate it. I think 00:09:49.210 --> 00:09:51.330 though, I think what you're missing here because 00:09:51.330 --> 00:09:53.750 you don't value it, but I know a lot of people 00:09:53.750 --> 00:09:57.330 do is like follower count, right? Like likes, 00:09:57.330 --> 00:09:59.409 how many likes is my stuff getting, right? Like 00:09:59.409 --> 00:10:02.509 people, subscribers count on YouTube. People 00:10:02.509 --> 00:10:06.350 value that like more than they do money. right 00:10:06.350 --> 00:10:10.029 like yeah give me a million subscribers on youtube 00:10:10.029 --> 00:10:12.629 or a million dollars right like there's there's 00:10:12.629 --> 00:10:14.250 kids out there that are going to take the subscribers 00:10:14.250 --> 00:10:17.990 every single time and it i think you can win 00:10:17.990 --> 00:10:19.570 in both aspects of it because there's people 00:10:19.570 --> 00:10:21.330 out there doing it right now and you just have 00:10:21.330 --> 00:10:23.970 to be willing to figure out what you want to 00:10:23.970 --> 00:10:26.669 do right think about it these people that are 00:10:26.669 --> 00:10:29.129 crushing like the the cool categories right now 00:10:29.559 --> 00:10:32.000 are like super into it right like this is their 00:10:32.000 --> 00:10:34.019 niche we always talk about niching down well 00:10:34.019 --> 00:10:36.100 guess what they know exactly what they're looking 00:10:36.100 --> 00:10:38.840 for believe it or not they've actually done the 00:10:38.840 --> 00:10:40.919 research they know if they see you know the deaf 00:10:40.919 --> 00:10:44.659 leopard t -shirt band shirt from 1993 it's this 00:10:44.659 --> 00:10:46.799 it's this one it's worth this much before they 00:10:46.799 --> 00:10:49.480 even grab it off the rack they do the research 00:10:49.480 --> 00:10:52.080 because it's interesting to them right versus 00:10:52.080 --> 00:10:54.590 maybe the average reseller who's just out there 00:10:54.590 --> 00:10:56.590 looking for anything that they can make a dollar 00:10:56.590 --> 00:10:59.210 on, you're really not as invested in it because 00:10:59.210 --> 00:11:00.750 you're just looking at, oh, well, I'm just going 00:11:00.750 --> 00:11:02.490 to sell whatever I can to make a dollar. When 00:11:02.490 --> 00:11:05.490 these kids or the new generation of resellers 00:11:05.490 --> 00:11:07.909 are like, listen, I'm looking for these specific 00:11:07.909 --> 00:11:10.090 lamps, right? These lamps are super hot. And 00:11:10.090 --> 00:11:13.090 if I ever come across this lamp, I know what's 00:11:13.090 --> 00:11:14.909 worth that much, right? Like instantly, I know 00:11:14.909 --> 00:11:17.289 I'm buying that thing instantly. I give them 00:11:17.289 --> 00:11:20.169 credit for kind of jumping into a space where 00:11:20.169 --> 00:11:22.649 it's almost been conquered by people that are 00:11:22.649 --> 00:11:25.279 just like, You can make a lot of money, but it's 00:11:25.279 --> 00:11:27.259 going to take a lot of work. I don't think a 00:11:27.259 --> 00:11:29.200 lot of these people are really working that hard 00:11:29.200 --> 00:11:32.159 because they know where to get their stuff. You 00:11:32.159 --> 00:11:33.700 know you're not going to find the majority of 00:11:33.700 --> 00:11:36.200 these items sitting on the Goodwill rack. They 00:11:36.200 --> 00:11:38.659 know they got to build a relationship with the 00:11:38.659 --> 00:11:42.159 rag shop or some next level to have in their 00:11:42.159 --> 00:11:44.700 relationship. So they're already leaps and bounds 00:11:44.700 --> 00:11:46.559 ahead. And I don't think they realize it because 00:11:46.559 --> 00:11:48.039 they just see it as cool. They're just like. 00:11:48.409 --> 00:11:50.210 I love what I sell. I'm going to make a lot of 00:11:50.210 --> 00:11:51.750 money. And I'm really not thinking about the 00:11:51.750 --> 00:11:54.049 next level. I think in that aspect of it, it's 00:11:54.049 --> 00:11:56.970 okay to enjoy it and make a lot of money. And 00:11:56.970 --> 00:11:58.389 then you can kind of figure out what you want 00:11:58.389 --> 00:12:00.210 to do. That's why it's intriguing to me. These 00:12:00.210 --> 00:12:03.370 people I see, just like, man, for me, it's the 00:12:03.370 --> 00:12:05.990 vintage t -shirts. That whole category is crazy 00:12:05.990 --> 00:12:07.730 to me, how much people are willing to pay for 00:12:07.730 --> 00:12:09.750 some of these shirts and some of the younger 00:12:09.750 --> 00:12:11.750 generations out there that are willing to pay 00:12:11.750 --> 00:12:13.789 for it, willing to have businesses revolving 00:12:13.789 --> 00:12:17.259 around it. You don't see them going into the 00:12:17.259 --> 00:12:20.000 thrift store and buying 100 vintage T -shirts. 00:12:20.100 --> 00:12:21.799 You might see one YouTube video out there where 00:12:21.799 --> 00:12:24.039 they maybe find like five or 10, but they're 00:12:24.039 --> 00:12:26.299 already at the relationship level. They understand 00:12:26.299 --> 00:12:28.600 that the thrift stores ain't going to make or 00:12:28.600 --> 00:12:30.360 break their business because it's not there. 00:12:30.460 --> 00:12:32.100 They know it's not there. Sure, you might hit 00:12:32.100 --> 00:12:34.539 one every once in a while, but they automatically 00:12:34.539 --> 00:12:37.379 have to go to that next level of having a profitable 00:12:37.379 --> 00:12:39.539 relationship. That's all it comes down to at 00:12:39.539 --> 00:12:41.500 the end of the day. Any reselling business is 00:12:41.500 --> 00:12:44.360 all relationship based. What's up, Amazon sellers? 00:12:44.500 --> 00:12:46.620 We wanted to take a second to talk about GoToLister, 00:12:46.700 --> 00:12:49.200 the software me and Johnny both use to list and 00:12:49.200 --> 00:12:51.480 manage our inventory and grow our businesses. 00:12:51.820 --> 00:12:54.139 With the fastest listing speeds out there and 00:12:54.139 --> 00:12:56.779 built -in profit analytics, it's a no -brainer. 00:12:57.179 --> 00:12:59.720 Easily and quickly have items available for sale 00:12:59.720 --> 00:13:02.639 using 2D barcodes and get more for your items 00:13:02.639 --> 00:13:05.200 with its built -in smart pricing. Make sure to 00:13:05.200 --> 00:13:07.519 check out the 30 -day free trial at gotolister 00:13:07.519 --> 00:13:10.440 .com backslash Mike or using the link in the 00:13:10.440 --> 00:13:13.399 description below. There we go. There's some 00:13:13.399 --> 00:13:15.340 key things. If you're going to build a big following 00:13:15.340 --> 00:13:18.940 like that, to me, it's like, what's the monetization? 00:13:19.690 --> 00:13:21.570 Or how are you going to monetize it at the end 00:13:21.570 --> 00:13:24.409 of the day? Or else to me, again, I don't get 00:13:24.409 --> 00:13:27.450 the dopamine hit from followers. It's like, okay, 00:13:27.490 --> 00:13:28.850 you have followers. What are you going to do 00:13:28.850 --> 00:13:30.809 with the followers? Are you getting DM behind 00:13:30.809 --> 00:13:33.490 the scenes, getting access to cool deals? Okay, 00:13:33.690 --> 00:13:36.190 I'm all for that if that's what's actually happening. 00:13:36.889 --> 00:13:39.110 Or are you planning to open like a merchandise 00:13:39.110 --> 00:13:43.009 store? Okay, now there's money behind this building 00:13:43.009 --> 00:13:46.409 clout, look at me kind of stuff. If that's your 00:13:46.409 --> 00:13:49.159 business model, cool. It's not a business model 00:13:49.159 --> 00:13:52.620 I personally necessarily want to do, but I see 00:13:52.620 --> 00:13:57.299 the money then. If you're getting $20, $30, $40 00:13:57.299 --> 00:13:59.820 items that are the haul videos or whatever, you're 00:13:59.820 --> 00:14:01.940 building something. It's a different kind of 00:14:01.940 --> 00:14:04.279 grind. So maybe you make up for, okay, I got 00:14:04.279 --> 00:14:07.059 a $20 item. It's super cool though. But I also 00:14:07.059 --> 00:14:09.960 know I'm going to get 5 ,000 subscribers or... 00:14:10.409 --> 00:14:12.389 5 ,000 views on this video, which is going to 00:14:12.389 --> 00:14:14.710 translate to X dollars. Okay. That worthless, 00:14:14.909 --> 00:14:18.090 I'm not worthless. That $20 item is now a $50 00:14:18.090 --> 00:14:20.549 item. Okay. It's a different way to do business 00:14:20.549 --> 00:14:24.549 and sourcing, but I can see the appeal because 00:14:24.549 --> 00:14:27.149 the money's there at that point. Yeah, for sure. 00:14:27.269 --> 00:14:30.190 So it's like they add on the new generation ads 00:14:30.190 --> 00:14:32.549 on this extra stream of income, which is, you 00:14:32.549 --> 00:14:35.309 know, their TikTok live, their TikTok shops, 00:14:35.649 --> 00:14:37.970 their YouTube income, right? Their ad revenue 00:14:37.970 --> 00:14:41.490 on YouTube. I think it's super smart to have 00:14:41.490 --> 00:14:43.909 as many streams of income that you possibly can 00:14:43.909 --> 00:14:46.929 have. That's a good point. I didn't think about 00:14:46.929 --> 00:14:49.350 that. They have multiple streams of revenue for 00:14:49.350 --> 00:14:54.029 sourcing one item. Yes. Okay. That was a click 00:14:54.029 --> 00:14:56.789 for me. There you go, Mike. I mean, it's sure. 00:14:57.429 --> 00:14:59.549 It's going to take a while to grow a social media 00:14:59.549 --> 00:15:03.049 following a YouTube channel, but I think... you 00:15:03.049 --> 00:15:05.629 know, that's what this next generation is, right? 00:15:05.710 --> 00:15:09.250 It's electronic, it's digital, it's videos, it's 00:15:09.250 --> 00:15:12.049 vlogs of everything you're doing. Not even the, 00:15:12.070 --> 00:15:13.610 they don't want to see the business stuff. They 00:15:13.610 --> 00:15:15.289 don't want to hear you talk about this, that, 00:15:15.330 --> 00:15:17.509 or this. They just want to see the cool stuff, 00:15:17.690 --> 00:15:19.570 right? Like they don't care where you got it 00:15:19.570 --> 00:15:20.950 from. They just want you to - They're more into 00:15:20.950 --> 00:15:23.730 like title and SOE optimization than I am about 00:15:23.730 --> 00:15:26.309 the perfect listing. Yes. They just want to, 00:15:26.309 --> 00:15:29.009 you know, the people they're after to subscribe 00:15:29.009 --> 00:15:31.250 to their channel, they just want to see the - 00:15:31.480 --> 00:15:33.639 the dope t -shirts that they got that they're 00:15:33.639 --> 00:15:35.539 going to resell they just want to see the the 00:15:35.539 --> 00:15:38.500 cool furniture the cool whatever it may be or 00:15:38.500 --> 00:15:41.139 the proper hashtags yeah yeah yeah yeah yeah 00:15:41.139 --> 00:15:44.000 it's i think it's great and you know trading 00:15:44.000 --> 00:15:45.879 cards is another one where there's a lot of cool 00:15:45.879 --> 00:15:48.399 factor in it when it comes to you know having 00:15:48.399 --> 00:15:51.559 a social media following and doing live breaks 00:15:51.559 --> 00:15:53.779 and things like that there's so many ways they're 00:15:53.779 --> 00:15:57.720 monetizing reselling that just your average ebay 00:15:57.720 --> 00:16:01.169 seller or your average amazon seller like Sure, 00:16:01.250 --> 00:16:02.889 the argument is, well, if I just focus on my 00:16:02.889 --> 00:16:04.809 business, you'll make more money. Well, most 00:16:04.809 --> 00:16:07.750 likely, yes. But it's a different generation. 00:16:07.889 --> 00:16:10.429 It's a different mindset completely around reselling. 00:16:10.590 --> 00:16:13.370 It's more of a social aspect, like Johnny was 00:16:13.370 --> 00:16:15.870 saying, than it is an actual business aspect. 00:16:15.990 --> 00:16:17.769 But they still make money on the back end. That's 00:16:17.769 --> 00:16:19.649 kind of the benefit to it. And those are the 00:16:19.649 --> 00:16:21.450 ones that are winning, the new resellers that 00:16:21.450 --> 00:16:23.870 are passionate about what they're doing. And 00:16:23.870 --> 00:16:27.120 they're in a trendy category, right? We look 00:16:27.120 --> 00:16:29.159 at eBay, they got like the authentication for 00:16:29.159 --> 00:16:31.919 certain collectibles, right? Like the sneakers, 00:16:32.120 --> 00:16:35.879 the cards, that's what we're talking about here. 00:16:36.000 --> 00:16:39.879 The cool kids selling that type of stuff, making 00:16:39.879 --> 00:16:42.899 a lot of money, but they don't even think of 00:16:42.899 --> 00:16:44.460 it as a business because it's so cool to them, 00:16:44.600 --> 00:16:47.200 right? Like what could I sell that will possibly 00:16:47.200 --> 00:16:50.539 be so cool to me? Like if I could just have a 00:16:50.539 --> 00:16:52.940 whole business related to selling like Halloween 00:16:52.940 --> 00:16:55.950 memorabilia, right? Like I haven't. infinite 00:16:55.950 --> 00:16:59.309 access to Michael Myers memorabilia and I could 00:16:59.309 --> 00:17:02.250 just sell it forever and be that like hype man 00:17:02.250 --> 00:17:05.069 around that franchise like that's kind of my 00:17:05.069 --> 00:17:08.170 equivalent to it and when you do that for free 00:17:08.170 --> 00:17:10.000 because you just have so much fun with it Yeah, 00:17:10.119 --> 00:17:12.039 when you got the stuff, you got the stuff, right? 00:17:12.119 --> 00:17:13.920 I would need the relationship to always be getting 00:17:13.920 --> 00:17:15.660 more of this type of inventory. People would 00:17:15.660 --> 00:17:18.180 know, hey, he's the guy. You want something Halloween 00:17:18.180 --> 00:17:20.579 related? I'm going to him. And it's kind of the 00:17:20.579 --> 00:17:22.259 same aspect when it comes to the live selling 00:17:22.259 --> 00:17:24.380 and getting a following, growing a following 00:17:24.380 --> 00:17:26.859 and translating that into money, right? Because 00:17:26.859 --> 00:17:29.160 at the end of the day, we need money to survive. 00:17:29.920 --> 00:17:32.259 So what they do is that's what they do. They 00:17:32.259 --> 00:17:34.180 build their social media. They push out content 00:17:34.180 --> 00:17:36.519 that people want to see, which is not, you know. 00:17:36.839 --> 00:17:38.720 Not the used book guy content where I talk about 00:17:38.720 --> 00:17:41.299 how to do certain things and settings and repricers. 00:17:41.519 --> 00:17:43.539 No, they got the flashy stuff that people want 00:17:43.539 --> 00:17:46.150 to see. The thousand dollar item, right? The 00:17:46.150 --> 00:17:48.049 item they got for a dollar that, you know, is 00:17:48.049 --> 00:17:50.470 going to sell for $2 ,000. That's what gets people 00:17:50.470 --> 00:17:52.670 in the door. But there has to be a back end to 00:17:52.670 --> 00:17:54.210 that, right? Because it can't just be a one -time 00:17:54.210 --> 00:17:56.569 thing because your following is going to go away. 00:17:56.650 --> 00:17:58.150 You're not going to get all your followers from 00:17:58.150 --> 00:18:00.430 one post or one video. So you got to continue 00:18:00.430 --> 00:18:02.710 to grow that aspect of it. And that's what they 00:18:02.710 --> 00:18:05.210 do. That's what the kids do nowadays, Johnny, 00:18:05.369 --> 00:18:07.269 right? They're on their phones. It's content, 00:18:07.369 --> 00:18:10.630 content, content, 24 -7, getting the views, getting 00:18:10.630 --> 00:18:13.730 the likes, making money on the back end. That's 00:18:13.730 --> 00:18:18.730 the future of reselling, man. You say so. I'm 00:18:18.730 --> 00:18:20.670 a grinder through and through, so that's my game. 00:18:21.750 --> 00:18:24.230 That being said, I'm on the podcast, right? I 00:18:24.230 --> 00:18:25.849 do calls and all this, that, and the other. So 00:18:25.849 --> 00:18:28.049 I'm there a little bit, but it's not my focus, 00:18:28.109 --> 00:18:32.720 honestly. But no. Here's another thing. Sometimes 00:18:32.720 --> 00:18:34.900 people ask, what's the most expensive thing you've 00:18:34.900 --> 00:18:37.559 sold? I don't know. Let me go look it up. I don't 00:18:37.559 --> 00:18:39.420 really care about that. I care about my bottom 00:18:39.420 --> 00:18:42.799 line. What did I get for the month? I don't care 00:18:42.799 --> 00:18:45.640 about a singular sale. And that breaks their 00:18:45.640 --> 00:18:48.500 brain that I don't because we're thinking differently, 00:18:48.720 --> 00:18:51.920 right? They want to see the cool flashy McFlash. 00:18:52.059 --> 00:18:55.039 And I don't care about the cool flashy McFlash. 00:18:55.059 --> 00:18:56.700 I care about what's going in my bank account. 00:18:58.140 --> 00:19:01.099 It's the same with me, dude. Everybody in the 00:19:01.099 --> 00:19:03.140 group, probably everybody that listens to this 00:19:03.140 --> 00:19:06.759 podcast will 100 % sell a more expensive item 00:19:06.759 --> 00:19:09.259 than I will this year. Like that's pretty much 00:19:09.259 --> 00:19:11.599 guaranteed. I'm not like sure if I come across 00:19:11.599 --> 00:19:14.440 the gym, but like I've never sold anything like 00:19:14.440 --> 00:19:16.240 that was super crazy, right? I don't even think 00:19:16.240 --> 00:19:18.759 I've ever sold anything over like 300, 400 bucks. 00:19:19.400 --> 00:19:22.799 I mean, I was that way. I've had one expensive 00:19:22.799 --> 00:19:25.420 sale. It was some dumb magician book I found 00:19:25.420 --> 00:19:27.539 at the bottom of a pallet that was signed. They 00:19:27.539 --> 00:19:29.839 only made 30 of them, and half the magicians 00:19:29.839 --> 00:19:31.660 in there were dead, and I actually sold it to 00:19:31.660 --> 00:19:34.119 a living magician. That was the coolest thing 00:19:34.119 --> 00:19:36.460 I've ever sold. I thought it was cool at the 00:19:36.460 --> 00:19:37.880 time, but I've seen other books I thought were 00:19:37.880 --> 00:19:40.500 equally cool. They just aren't valued at that 00:19:40.500 --> 00:19:42.200 level. They're like a couple hundred dollars. 00:19:45.509 --> 00:19:47.349 When people ask that, they seem disappointed 00:19:47.349 --> 00:19:49.450 when I give that answer. Like, oh, there's no 00:19:49.450 --> 00:19:51.750 glory in books. I'm like, no, it's about the 00:19:51.750 --> 00:19:55.289 money. It's tough to kind of get it through because 00:19:55.289 --> 00:19:57.130 like we're talking about here, right? The cool 00:19:57.130 --> 00:19:59.809 fact there is being like, yeah, like I sell a 00:19:59.809 --> 00:20:01.470 thousand dollar book every month, right? You 00:20:01.470 --> 00:20:03.049 know, I've sold this one. I sold that one. I 00:20:03.049 --> 00:20:04.690 sold that one. They're like, hey, what have you 00:20:04.690 --> 00:20:06.089 ever sold? It's over a thousand dollars, Mike. 00:20:06.210 --> 00:20:09.539 And I'm like scratching my head. I'm like. not 00:20:09.539 --> 00:20:13.339 once not once like i got nothing and they're 00:20:13.339 --> 00:20:16.740 like oh unfollow unsubscribe uh yeah i don't 00:20:16.740 --> 00:20:18.819 have they think we're like the antiquarian crowd 00:20:18.819 --> 00:20:21.500 where that's all they kind of target yeah and 00:20:21.500 --> 00:20:25.099 you and i are are not antiquarian sellers i'm 00:20:25.099 --> 00:20:27.460 a sell -through guy give me my fast money all 00:20:27.460 --> 00:20:29.859 the time um but it's not it's not cool it's not 00:20:29.859 --> 00:20:32.319 flashy i get that but i'm just like I'm like 00:20:32.319 --> 00:20:34.359 Johnny said, the grinding type where I just want 00:20:34.359 --> 00:20:36.400 to make money to cover my bills, put money away 00:20:36.400 --> 00:20:38.799 for retirement. So I don't have to resell my 00:20:38.799 --> 00:20:40.440 whole life. And I think that's another thing 00:20:40.440 --> 00:20:43.920 with the younger generation of reselling is like, 00:20:43.940 --> 00:20:45.960 they don't see this as like a life plan, right? 00:20:46.079 --> 00:20:48.039 They're just like, I'm going to make, you know, 00:20:48.099 --> 00:20:50.240 30. This is what I'm going to do until I figure 00:20:50.240 --> 00:20:52.079 out what I want to do. Yeah, yeah, yeah. I'm 00:20:52.079 --> 00:20:53.960 just going to run this up as much as I can. And 00:20:53.960 --> 00:20:55.700 I'm just going to pivot away. I'm like, some 00:20:55.700 --> 00:20:57.279 of us have been reselling for all these years 00:20:57.279 --> 00:20:59.660 and we're like. I still live dollar to dollar 00:20:59.660 --> 00:21:02.519 and I got no money and I got no plan. Like that, 00:21:02.559 --> 00:21:04.680 I think that kind of what, what pisses off a 00:21:04.680 --> 00:21:06.400 lot of us that have been reselling a while is 00:21:06.400 --> 00:21:08.740 like, we've been doing this for years and this 00:21:08.740 --> 00:21:10.900 person just came on the scene and they, and they're 00:21:10.900 --> 00:21:13.759 selling X amount of dollars and like, yeah, you're 00:21:13.759 --> 00:21:15.180 going to be salty about it. But like, what's 00:21:15.180 --> 00:21:17.920 stopping you from doing that? Nothing. Yeah. 00:21:18.240 --> 00:21:22.519 And again, I don't think they're necessarily 00:21:22.519 --> 00:21:25.480 wrong and it's a new generation of selling. It's 00:21:25.480 --> 00:21:28.079 just not. I'm an old man, Mike. It's not my generation 00:21:28.079 --> 00:21:31.380 originally. To me, it's like you do the hard 00:21:31.380 --> 00:21:34.579 work and you get paid for it. And that's all 00:21:34.579 --> 00:21:37.500 there is. I don't have to worry about followers, 00:21:37.640 --> 00:21:40.200 subscribers, view counts, this, that, and the 00:21:40.200 --> 00:21:43.279 other. Do I see a benefit to it? Yeah, we mentioned 00:21:43.279 --> 00:21:44.680 a couple of them earlier. Like if you're able 00:21:44.680 --> 00:21:47.559 to get relationships, to get bigger deals, go 00:21:47.559 --> 00:21:50.400 for it. If that's the play, like you can't, you're 00:21:50.400 --> 00:21:52.700 not hitting that in your local area. Well, increase 00:21:52.700 --> 00:21:54.380 it to the internet and then you'll get a couple. 00:21:55.960 --> 00:21:57.940 I mean, even doing this, I've gotten a couple 00:21:57.940 --> 00:22:00.180 and they've been great. Or there's smaller relationships 00:22:00.180 --> 00:22:02.019 like, hey, I got a box of books for you, Johnny 00:22:02.019 --> 00:22:03.559 Inch. Like, yeah, I'm interested. Go ahead and 00:22:03.559 --> 00:22:06.519 mail that out. But dude, see the thing here is 00:22:06.519 --> 00:22:10.539 you work hard, but it's hard work that has a 00:22:10.539 --> 00:22:13.200 payoff, which we can't sit here and say that 00:22:13.200 --> 00:22:15.440 the majority of resellers do, right? A lot of 00:22:15.440 --> 00:22:17.720 resellers work really hard and the payoff really 00:22:17.720 --> 00:22:20.279 isn't on the back end. And this is the thing 00:22:20.279 --> 00:22:23.220 I struggle with for years and years is. If we 00:22:23.220 --> 00:22:25.380 have a business where the margins are what they 00:22:25.380 --> 00:22:29.700 are, we all should be having a pretty nice bank 00:22:29.700 --> 00:22:31.880 account on the back end, regardless of where 00:22:31.880 --> 00:22:33.740 you live, regardless of what your overhead cost 00:22:33.740 --> 00:22:37.000 is. So the problem with it is Johnny can sit 00:22:37.000 --> 00:22:38.759 there and say, yeah, he works hard and that's 00:22:38.759 --> 00:22:41.480 fine because the bank account goes up and I can 00:22:41.480 --> 00:22:43.720 say the same thing. But the opposite side of 00:22:43.720 --> 00:22:44.960 that coin is people that have been reselling 00:22:44.960 --> 00:22:46.940 for a while and maybe aren't getting their results. 00:22:47.099 --> 00:22:52.909 So instead of seeing that kid who's like, selling 00:22:52.909 --> 00:22:57.549 20 K a week on eBay or whatnot, or wherever that 00:22:57.549 --> 00:23:00.150 may be. Instead of seeing that kid and being 00:23:00.150 --> 00:23:02.990 like, wow, like that's eyeopening. We see it 00:23:02.990 --> 00:23:06.710 as, oh man, oh, that that's not real. Or like, 00:23:06.730 --> 00:23:08.890 that's not possible. And you just kind of take 00:23:08.890 --> 00:23:11.250 the opposite approach instead of being like, 00:23:11.329 --> 00:23:13.930 wow, like maybe I should take a second look at 00:23:13.930 --> 00:23:15.829 what I'm doing. Right. Because if I've been doing 00:23:15.829 --> 00:23:18.529 this for five years and this kid makes 10 grand 00:23:18.529 --> 00:23:21.130 a week and I'm making 10 grand in three months, 00:23:21.190 --> 00:23:24.740 like. Maybe I should take a second look at what 00:23:24.740 --> 00:23:27.640 I'm doing because clearly if I'm motivated and 00:23:27.640 --> 00:23:30.420 I want to have a profitable business, what I'm 00:23:30.420 --> 00:23:32.559 doing ain't it, right? And sure, if it's something 00:23:32.559 --> 00:23:35.140 you're not passionate about, then yeah, right? 00:23:35.200 --> 00:23:36.819 I'm never going to sell the vintage t -shirts. 00:23:37.079 --> 00:23:39.960 But like, it doesn't even have to be topic related. 00:23:40.119 --> 00:23:42.039 It can just be business related. Like maybe you 00:23:42.039 --> 00:23:43.640 can take something away from that person that's 00:23:43.640 --> 00:23:46.039 like... well, here's my relationship. Here's 00:23:46.039 --> 00:23:47.559 how I get the stuff I sell. Then you're like, 00:23:47.559 --> 00:23:49.059 well, wait a minute. I don't have to rely on 00:23:49.059 --> 00:23:50.579 the Goodwill bins, right? I don't have to go 00:23:50.579 --> 00:23:52.299 to the Goodwill bins five days a week. I can 00:23:52.299 --> 00:23:54.319 build a relationship. Then your business kind 00:23:54.319 --> 00:23:57.240 of blows up overnight. There's so much more to 00:23:57.240 --> 00:23:59.319 it than just a cool factor. But I do think a 00:23:59.319 --> 00:24:02.099 lot of people get offended and like turned off 00:24:02.099 --> 00:24:04.720 when they see somebody brand new selling X amount 00:24:04.720 --> 00:24:06.880 of dollars when they've been doing it for years 00:24:06.880 --> 00:24:12.619 and they've never hit those numbers. We've had 00:24:12.619 --> 00:24:14.940 Jack on the call, so I'll mention him. We had 00:24:14.940 --> 00:24:17.140 an interest. It was his call that I attended. 00:24:17.579 --> 00:24:20.660 And we kind of went off a little bit on people 00:24:20.660 --> 00:24:22.660 should stop reselling. And if you fall in this 00:24:22.660 --> 00:24:24.579 category, you should just stop, period. And one 00:24:24.579 --> 00:24:28.259 of those is what you just mentioned. Like after 00:24:28.259 --> 00:24:30.200 five years and you're making no money or you're 00:24:30.200 --> 00:24:32.039 making the same money you were doing in year 00:24:32.039 --> 00:24:35.720 one, you probably should just give it up or time 00:24:35.720 --> 00:24:38.640 to have that hard sit down and analyze your business. 00:24:39.289 --> 00:24:42.029 And or change the entire business. Because what 00:24:42.029 --> 00:24:44.450 you're doing is just plain out not working. You're 00:24:44.450 --> 00:24:47.589 going to get outpaced by simple inflation. Bottom 00:24:47.589 --> 00:24:55.630 line. And we've seen people resell out of their 00:24:55.630 --> 00:24:58.410 vehicles and they live in their vehicles. Unless 00:24:58.410 --> 00:25:01.630 you've chosen to live the van life or the RV 00:25:01.630 --> 00:25:04.509 life, you're effectively homeless in my opinion. 00:25:04.509 --> 00:25:06.690 And you're just paying to fill up the tank and 00:25:06.690 --> 00:25:09.609 eat a couple meals of ramen. You should probably 00:25:09.609 --> 00:25:12.789 reevaluate your business. I know you're all in 00:25:12.789 --> 00:25:15.430 at that point, literally, because you have nothing. 00:25:16.490 --> 00:25:19.490 So maybe take a step back and see, okay, how 00:25:19.490 --> 00:25:22.589 do I get out of the van life into a house life? 00:25:22.849 --> 00:25:25.230 What business model does that look like for myself? 00:25:25.470 --> 00:25:29.930 And think about it like that. And as far as all, 00:25:30.029 --> 00:25:31.930 can you have fame and fortune? I think you can 00:25:31.930 --> 00:25:34.740 have both. But if you don't necessarily care 00:25:34.740 --> 00:25:37.220 about the fame, maybe just grind it out like 00:25:37.220 --> 00:25:39.019 us grinders that are talking to you right now. 00:25:39.180 --> 00:25:41.599 You don't necessarily need to be on YouTube or 00:25:41.599 --> 00:25:43.759 Instagram or this, that, and the other. And that'll 00:25:43.759 --> 00:25:45.700 give you more minutes to pump into the grind 00:25:45.700 --> 00:25:49.579 part. If you want to split focus for relationship 00:25:49.579 --> 00:25:51.400 building, I'm all for that. Or if you figure 00:25:51.400 --> 00:25:53.619 out some other ways to monetize, like we're talking 00:25:53.619 --> 00:25:56.319 about, I'm all for multiple streams of income. 00:25:56.559 --> 00:25:58.440 I'm more power to you. You can make that work. 00:26:00.099 --> 00:26:03.819 You got to choose. And if you're unsure, you 00:26:03.819 --> 00:26:05.519 haven't really chosen. You're just doing the 00:26:05.519 --> 00:26:08.339 status quo of whatever that is. And maybe it's 00:26:08.339 --> 00:26:11.140 working. Maybe it's not. But maybe it's time 00:26:11.140 --> 00:26:13.319 to make a decision. Make a call. What kind of 00:26:13.319 --> 00:26:16.160 reseller are you? I agree because I think about 00:26:16.160 --> 00:26:18.700 it this way. I say it all the time. If this is 00:26:18.700 --> 00:26:23.200 any harder than it is for me, I'm probably better 00:26:23.200 --> 00:26:25.940 off just going and getting a job. I'm not going 00:26:25.940 --> 00:26:29.359 to grind this out to make the money I make. Because 00:26:29.359 --> 00:26:32.339 guess what? We got no retirement match. We got 00:26:32.339 --> 00:26:34.920 no health benefits from eBay or Amazon, right? 00:26:35.240 --> 00:26:39.240 I firmly believe that if you are working super 00:26:39.240 --> 00:26:41.059 hard in a restaurant and making no money, it 00:26:41.059 --> 00:26:42.819 is time for you to move on to something else. 00:26:43.319 --> 00:26:47.440 Because these people work too hard to make the 00:26:47.440 --> 00:26:48.740 little bit of money they do. I'm just thinking 00:26:48.740 --> 00:26:51.640 to myself, there are so many better ways, easier 00:26:51.640 --> 00:26:53.779 ways to make money, right? Think about somebody 00:26:53.779 --> 00:26:56.319 brand new who comes onto the scene, has one relationship. 00:26:57.099 --> 00:26:58.960 And they have an infinite supply of basically 00:26:58.960 --> 00:27:01.279 great inventory versus somebody who's been doing 00:27:01.279 --> 00:27:03.079 this, grinding thrift stores, which is the big 00:27:03.079 --> 00:27:05.740 thing, grinding these garage sales five days 00:27:05.740 --> 00:27:08.400 a week, making less than six figures a year. 00:27:08.640 --> 00:27:12.140 We need to take a step back because this ain't 00:27:12.140 --> 00:27:15.539 it. You are spending way too much money and time 00:27:15.539 --> 00:27:19.240 to get little to nothing back, right? Like, just 00:27:19.240 --> 00:27:21.420 you got to figure something else out. And I hate 00:27:21.420 --> 00:27:23.079 to be the bearer of bad news, but there's a lot 00:27:23.079 --> 00:27:26.579 of resellers that just drag it along. Drag it 00:27:26.579 --> 00:27:31.500 along, drag it along. I have multiple streams 00:27:31.500 --> 00:27:34.059 of income and there's so many other stupid, easier 00:27:34.059 --> 00:27:37.480 ways to make money than doing what I do, doing 00:27:37.480 --> 00:27:39.740 what me and Johnny do, having this podcast, having 00:27:39.740 --> 00:27:42.119 the YouTube channel, having the group. This was 00:27:42.119 --> 00:27:43.700 like one of the hardest ways to try to make a 00:27:43.700 --> 00:27:46.720 damn dollar. Like I could just go do stupid influencer 00:27:46.720 --> 00:27:49.559 videos that are 20 seconds long. They get paid 00:27:49.559 --> 00:27:53.240 forever from Amazon, right? I could go do whatever 00:27:53.240 --> 00:27:55.700 it may be. I could go to a job, nine to five 00:27:55.700 --> 00:27:58.259 job, Monday through Friday, make $35 an hour, 00:27:58.319 --> 00:28:01.500 have the benefits, have the retirement match, 00:28:01.640 --> 00:28:04.680 right? I don't know what it is with resellers 00:28:04.680 --> 00:28:07.359 and not just dragging it out. It's because anybody 00:28:07.359 --> 00:28:10.269 can do it and anybody... I guess the cool factor 00:28:10.269 --> 00:28:11.990 does play into it at some point, though, right? 00:28:12.069 --> 00:28:13.869 Because the reason you keep dragging it out is 00:28:13.869 --> 00:28:15.589 because you think you're cool when you tell people, 00:28:15.670 --> 00:28:18.990 I got my own reselling business. Yeah. And then 00:28:18.990 --> 00:28:21.029 when they ask, how much do you sell? And you're 00:28:21.029 --> 00:28:24.549 like, I sell about an item a month, right? Like, 00:28:24.609 --> 00:28:27.309 well, I talk about my reselling business. I'm 00:28:27.309 --> 00:28:28.849 talking about how much I'm selling, right? Like, 00:28:28.849 --> 00:28:30.490 yeah, I sell stuff. Here's how much I'm making, 00:28:30.589 --> 00:28:33.069 right? Like, that's the first thing coming off 00:28:33.069 --> 00:28:35.589 my mouth is. Here's what I'm selling. Here's 00:28:35.589 --> 00:28:38.089 how much I'm making. Here's my sales, this, that, 00:28:38.089 --> 00:28:39.750 this, that. Whenever I have a conversation with 00:28:39.750 --> 00:28:41.089 somebody that doesn't know what I'm talking about 00:28:41.089 --> 00:28:43.549 versus being like, oh, I got a little eBay store 00:28:43.549 --> 00:28:45.490 and I keep the stuff on this nice little pretty 00:28:45.490 --> 00:28:48.470 shelf that I have. And yeah, it's so cool. You 00:28:48.470 --> 00:28:50.450 should come check it out sometime. And then the 00:28:50.450 --> 00:28:52.509 person comes over and like, well, can you like 00:28:52.509 --> 00:28:54.670 pack an order? Can you ship anything? Like, can 00:28:54.670 --> 00:28:56.819 you do something here? And they're like. I don't 00:28:56.819 --> 00:29:00.119 have anything to ship. It's slow season right 00:29:00.119 --> 00:29:03.299 now. You know, the sun's not shining and there's 00:29:03.299 --> 00:29:08.220 a storm coming and nobody's buying from me. Where 00:29:08.220 --> 00:29:11.359 I see people struggle with like what you're saying 00:29:11.359 --> 00:29:14.380 the most, it's because they don't have full lens 00:29:14.380 --> 00:29:17.299 clarity, is when they have a husband or wife 00:29:17.299 --> 00:29:21.279 who's making money at day job. And they decide 00:29:21.279 --> 00:29:23.980 to do supplemental income. And instead of getting 00:29:23.980 --> 00:29:26.519 a part -time or full -time job themselves, they 00:29:26.519 --> 00:29:28.660 want to do the reselling. It may be because they 00:29:28.660 --> 00:29:30.220 like it because they got kids and it's a flexible 00:29:30.220 --> 00:29:33.299 schedule. But they may make $20 ,000 or $40 ,000 00:29:33.299 --> 00:29:36.720 extra, which is good. I mean, you're stacking 00:29:36.720 --> 00:29:42.099 on to your spouse's global household funds. And 00:29:42.099 --> 00:29:45.519 they justify it that way. But I want them to 00:29:45.519 --> 00:29:48.079 say, no, I want to make more than my husband 00:29:48.079 --> 00:29:52.779 or spouse. or equal to that way it's not a competition 00:29:52.779 --> 00:29:55.519 per se but you should want to make more than 00:29:55.519 --> 00:29:58.140 the other person because that's a business at 00:29:58.140 --> 00:29:59.680 my point and that can be your first benchmark 00:29:59.680 --> 00:30:02.920 making more than them i'm not saying be ruthless 00:30:02.920 --> 00:30:05.299 competitive with them but i'm saying that should 00:30:05.299 --> 00:30:08.019 be an initial goal um because you've at least 00:30:08.019 --> 00:30:10.920 doubled your income Can you imagine if you double 00:30:10.920 --> 00:30:13.059 your household's income, what life -changing 00:30:13.059 --> 00:30:15.819 abilities that will give you? That small house 00:30:15.819 --> 00:30:17.940 you're in, you can move into that dream house 00:30:17.940 --> 00:30:19.920 of yours with that kind of money if you double 00:30:19.920 --> 00:30:22.619 your income. Or, you know what? We're planning 00:30:22.619 --> 00:30:26.720 on Billy, Cindy, and Bobby Sue going to community 00:30:26.720 --> 00:30:28.380 college. You know what? They could be Harvard 00:30:28.380 --> 00:30:30.460 grads if they want to. We got money in the bank 00:30:30.460 --> 00:30:33.839 for that. It's giving yourself the opportunity 00:30:33.839 --> 00:30:37.099 of options with the income empire you built for 00:30:37.099 --> 00:30:40.180 yourself. But again, it's harder to see when 00:30:40.180 --> 00:30:43.299 you have full -time income with a partner that's 00:30:43.299 --> 00:30:46.200 doing that and you're bringing in, I don't know, 00:30:46.279 --> 00:30:49.140 X dollars. It's hard to evaluate it like that 00:30:49.140 --> 00:30:51.279 because you're fine. All your bills are paid. 00:30:51.480 --> 00:30:54.460 You got a roof over your head. Rehax Makat, right? 00:30:55.460 --> 00:31:01.680 I mean. How many days, how many 10 -hour days 00:31:01.680 --> 00:31:05.839 at the Goodwill bins every week? for you to quit 00:31:05.839 --> 00:31:07.960 reselling. If I said, if Johnny, if you want 00:31:07.960 --> 00:31:10.960 to keep reselling, I need you to be at the Goodwill 00:31:10.960 --> 00:31:14.160 bins, open to close X amount of days. How many 00:31:14.160 --> 00:31:17.539 days would somebody have to tell you, you got 00:31:17.539 --> 00:31:23.160 to be there for you to quit? Just, I have to 00:31:23.160 --> 00:31:25.299 be, I don't want to be there. You don't have 00:31:25.299 --> 00:31:28.240 a choice. You don't have, you don't have a choice. 00:31:28.319 --> 00:31:30.039 If you want to continue reselling, you have to 00:31:30.039 --> 00:31:32.779 be at the Goodwill bins, open to close. X amount 00:31:32.779 --> 00:31:37.400 of days. How many days is your threshold? Before 00:31:37.400 --> 00:31:43.700 I just quit reselling? Yeah. I don't want that 00:31:43.700 --> 00:31:46.960 live. So it's probably like one day. One day. 00:31:47.160 --> 00:31:49.720 I am, dude, believe it or not, I am in agreement. 00:31:49.940 --> 00:31:52.539 I'll go for one day a week if that was like, 00:31:52.559 --> 00:31:55.500 if I had to, right? If I wanted to keep my Amazon 00:31:55.500 --> 00:31:58.859 business. i would i'd be willing to do one full 00:31:58.859 --> 00:32:01.299 day at the goodwill bins every single week and 00:32:01.299 --> 00:32:03.319 honestly like that would probably get old after 00:32:03.319 --> 00:32:05.160 like four weeks and i'd like the hell with this 00:32:05.160 --> 00:32:08.559 um it's the idle time that gets to me that's 00:32:08.559 --> 00:32:11.079 like sitting on my hands i constantly have to 00:32:11.079 --> 00:32:12.779 be doing something and if they aren't rotating 00:32:12.779 --> 00:32:16.279 my stuff at a frequent basis or they got stuff 00:32:16.279 --> 00:32:18.660 sitting in a pallet for them to go through, I'm 00:32:18.660 --> 00:32:20.759 done. I don't want to be there anymore. I got 00:32:20.759 --> 00:32:23.420 to be doing something. There's easier ways to, 00:32:23.519 --> 00:32:26.140 there's more enjoyable, easier ways to make money. 00:32:26.220 --> 00:32:28.539 No one's going to sit here and tell me that that's 00:32:28.539 --> 00:32:30.519 enjoyable. Going to the same thrift store five 00:32:30.519 --> 00:32:34.220 days a week for 10 hours, right? Like just go 00:32:34.220 --> 00:32:36.559 get a great job at that point. You're going to 00:32:36.559 --> 00:32:39.559 make more money. There's way less risk in that 00:32:39.559 --> 00:32:42.099 aspect of it, right? You already have no life. 00:32:42.680 --> 00:32:46.319 You know what I got? If you love that life, But 00:32:46.319 --> 00:32:48.519 there are two options. Either you're really good 00:32:48.519 --> 00:32:51.019 at Ben's shopping and you got the wherewithal 00:32:51.019 --> 00:32:53.700 to sit there between rotations, pack your lunch, 00:32:53.799 --> 00:32:56.839 be there all day, right? Good for you. But if 00:32:56.839 --> 00:33:00.339 you're just like a mediocre reseller, I've seen 00:33:00.339 --> 00:33:02.740 it before. You become a sourcer for somebody 00:33:02.740 --> 00:33:04.720 and you get paid way more money than you would 00:33:04.720 --> 00:33:08.119 yourself being a reseller. Go work for, if you 00:33:08.119 --> 00:33:10.839 love that lifestyle, but you're making no money. 00:33:11.279 --> 00:33:14.339 Go work for Joe. Joe is going to have some requirements 00:33:14.339 --> 00:33:17.279 for you to pick out the stuff at the bins, but 00:33:17.279 --> 00:33:19.420 you're going to make way more money working for 00:33:19.420 --> 00:33:21.400 Joe because Joe pays you every week based on 00:33:21.400 --> 00:33:24.500 how many pieces you give him. Yeah, but that's 00:33:24.500 --> 00:33:26.319 not as cool. That's not as cool, though. It's 00:33:26.319 --> 00:33:29.380 not cool at all, but it's technically a job at 00:33:29.380 --> 00:33:33.019 that point. It's steady. It's tough. I think 00:33:33.019 --> 00:33:35.799 you can have both. I think as technology continues 00:33:35.799 --> 00:33:38.579 to crazily advance, right, like AI is only a 00:33:38.579 --> 00:33:40.400 piece of what it's going to be in the future. 00:33:41.129 --> 00:33:42.750 It's only going to get harder for the smaller 00:33:42.750 --> 00:33:46.049 person. I mean, think about this, right? Like 00:33:46.049 --> 00:33:49.470 we in the media business space, all the mega 00:33:49.470 --> 00:33:51.630 sellers have the conveyor belts, right? So we 00:33:51.630 --> 00:33:54.009 can never process as much as the conveyor belt. 00:33:54.289 --> 00:33:56.549 I think we're going to see those types of innovations 00:33:56.549 --> 00:33:58.890 in other categories, right? Like you've already 00:33:58.890 --> 00:34:01.150 kind of seen it with clothing where they can 00:34:01.150 --> 00:34:03.329 just lay something flat on a conveyor belt. It 00:34:03.329 --> 00:34:05.410 takes the photos and knows exactly what the brand 00:34:05.410 --> 00:34:08.039 is, exactly what the measurements is. I think 00:34:08.039 --> 00:34:10.260 this is what we're trending towards. So I think 00:34:10.260 --> 00:34:12.420 kind of niching down and getting with the trends 00:34:12.420 --> 00:34:14.619 is a good way to make a lot of money reselling. 00:34:14.699 --> 00:34:16.940 You don't have to be cool, but you better be 00:34:16.940 --> 00:34:18.860 making damn money. If you're not cool, you better 00:34:18.860 --> 00:34:21.400 be making money. If you're making money, you 00:34:21.400 --> 00:34:23.940 can try to be cool, right? Maybe you can squeeze 00:34:23.940 --> 00:34:25.940 your way and kind of be kind of cool, right? 00:34:26.059 --> 00:34:28.099 I think I'm kind of cool at the end of the day. 00:34:28.599 --> 00:34:31.599 Or open yourself up a brick and mortar, be a 00:34:31.599 --> 00:34:34.760 boutique shop, be a vintage t -shirt shop. There's 00:34:34.760 --> 00:34:37.860 plenty of those going on. Or the antiquarian 00:34:37.860 --> 00:34:40.760 bookshop, if you're an antiquarian seller and 00:34:40.760 --> 00:34:43.840 maybe you want to do some extra income there 00:34:43.840 --> 00:34:47.300 in addition to your eBay. Or, I don't know, the 00:34:47.300 --> 00:34:49.880 retro video game shop. These are things that 00:34:49.880 --> 00:34:52.920 exist and they make, from what I hear from people 00:34:52.920 --> 00:34:55.699 doing them, they make decent money. Maybe even 00:34:55.699 --> 00:34:59.210 better than... online business but they had the 00:34:59.210 --> 00:35:01.829 gumption to go out and do that because they realized 00:35:01.829 --> 00:35:04.630 what they were it's that self -realization that 00:35:04.630 --> 00:35:06.829 i think most people don't have because like we 00:35:06.829 --> 00:35:08.429 said earlier i think they're just floating along 00:35:08.429 --> 00:35:11.989 either trying to figure out what they want to 00:35:11.989 --> 00:35:15.030 do or they're hoping for the best and getting 00:35:15.030 --> 00:35:17.989 the worst results i agree i'm gonna wrap it up 00:35:17.989 --> 00:35:20.929 here with the cool slash profitable argument 00:35:21.639 --> 00:35:23.639 You can have both. I think we're going to see 00:35:23.639 --> 00:35:25.659 more changes in the resale landscape over the 00:35:25.659 --> 00:35:28.139 next three to five years than we ever have previously, 00:35:28.480 --> 00:35:30.500 right? It's only going to continue to change. 00:35:30.719 --> 00:35:32.480 There's going to be new platforms. There's going 00:35:32.480 --> 00:35:35.320 to be new options. And it's okay when somebody 00:35:35.320 --> 00:35:37.460 else comes along and brand new and is making 00:35:37.460 --> 00:35:39.400 more money than you. Don't be salty about it. 00:35:39.420 --> 00:35:41.400 Be happy for them and see what you can take away 00:35:41.400 --> 00:35:43.320 from how they built their business to what it 00:35:43.320 --> 00:35:45.900 is today. It's not always a bad thing when... 00:35:46.119 --> 00:35:48.000 You know, live selling becomes a big thing. Do 00:35:48.000 --> 00:35:49.760 you think I'm worried about Amazon going under 00:35:49.760 --> 00:35:51.780 because of it? No, not at all. Right. I'm like, 00:35:51.800 --> 00:35:54.019 that's cool. You want to live that life and a 00:35:54.019 --> 00:35:56.099 knock it out the park, make as much money as 00:35:56.099 --> 00:35:57.940 you can. But at the end of the day, the cool 00:35:57.940 --> 00:35:59.900 people make a lot of money for the most part. 00:36:00.019 --> 00:36:01.880 Right. Like, so let's get with the cool kids. 00:36:01.980 --> 00:36:03.440 We don't got to be cool. But if we're going to 00:36:03.440 --> 00:36:05.900 be grinders like Johnny's talking about, we better 00:36:05.900 --> 00:36:08.099 be making damn money because we're not doing 00:36:08.099 --> 00:36:09.719 the social media. We're not doing the YouTube 00:36:09.719 --> 00:36:11.860 channel. You know, I say all the time, everybody 00:36:11.860 --> 00:36:13.519 should be making a lot more money than me if 00:36:13.519 --> 00:36:15.130 you're doing this full time, because. You're 00:36:15.130 --> 00:36:16.690 not juggling everything. And yeah, the multiple 00:36:16.690 --> 00:36:19.889 streams of income pays off. But like I said, 00:36:20.030 --> 00:36:22.070 if you just focus solely on the business, the 00:36:22.070 --> 00:36:23.969 argument can always be made until the end of 00:36:23.969 --> 00:36:26.210 times. You're always going to make more money 00:36:26.210 --> 00:36:28.369 than somebody who's trying to build social media, 00:36:28.570 --> 00:36:32.070 a live stream audience while reselling. So that's 00:36:32.070 --> 00:36:33.289 going to do it for this week's episode. We'll 00:36:33.289 --> 00:36:36.090 talk to you all next week. Thanks for listening 00:36:36.090 --> 00:36:38.110 to another episode of the Reseller's Mindset 00:36:38.110 --> 00:36:40.710 Podcast. Today's full episode and all previous 00:36:40.710 --> 00:36:43.050 episodes are available to all YouTube members 00:36:43.050 --> 00:36:45.809 along with the weekly Zoom call and private Discord. 00:36:46.130 --> 00:36:48.929 Head on over to youtube .com backslash to use 00:36:48.929 --> 00:36:51.010 book guy and consider joining for as little as 00:36:51.010 --> 00:36:51.909 $2 .99 a month.