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 --> 00:00:11.160 B. We help people start and grow their reselling 00:00:11.160 --> 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 --> 00:00:28.359 this week's episode. what is up everybody welcome 00:00:28.359 --> 00:00:30.699 into another episode resellers mindset podcast 00:00:30.699 --> 00:00:33.240 i found johnny it was like an unsolved mystery 00:00:33.240 --> 00:00:35.280 for a week we had to do without him i had to 00:00:35.280 --> 00:00:37.859 drive around texas for hours and hours and hours 00:00:37.859 --> 00:00:40.399 and i finally found the guy and today's topic 00:00:40.399 --> 00:00:43.000 is an important one and it's moving too fast 00:00:43.000 --> 00:00:46.049 as a reseller and i have personal experience 00:00:46.049 --> 00:00:48.429 with this. So I guess I will just go first here 00:00:48.429 --> 00:00:51.130 and get it out of the way. So many, many moons 00:00:51.130 --> 00:00:55.009 ago, probably 2023, maybe 2022. I'm not good 00:00:55.009 --> 00:00:57.429 at remembering things. We kind of just joked 00:00:57.429 --> 00:01:00.009 about that before we started this. I got ungated 00:01:00.009 --> 00:01:03.509 to sell CDs and DVDs on Amazon, right? So big 00:01:03.509 --> 00:01:06.689 thing. Yay, yay, yay. I can now send in CDs and 00:01:06.689 --> 00:01:11.049 DVDs. Well, I was so anxious and so excited that 00:01:11.049 --> 00:01:14.209 I forgot that you're not BuyBox eligible when 00:01:14.209 --> 00:01:17.489 you... are brand new to a used category. So I 00:01:17.489 --> 00:01:21.510 was sending all of the junk that you, you know, 00:01:21.510 --> 00:01:24.469 the CDs that sell once every month, once every 00:01:24.469 --> 00:01:26.950 two or three months, like it's just not going 00:01:26.950 --> 00:01:31.069 to work feasibly. But I was so elated and so 00:01:31.069 --> 00:01:33.349 excited that I could be more than just the used 00:01:33.349 --> 00:01:36.409 book guy that I just said, to hell with it. I'm 00:01:36.409 --> 00:01:38.930 going to send in all of this slow moving junk 00:01:38.930 --> 00:01:42.560 on Amazon land. You get punished if you don't 00:01:42.560 --> 00:01:45.000 have the buy box for sending in slow moving junk. 00:01:45.200 --> 00:01:48.299 So it should have took maybe a month to three 00:01:48.299 --> 00:01:50.640 months to get the buy box. It took me, I think 00:01:50.640 --> 00:01:52.920 it was right about six or seven months because 00:01:52.920 --> 00:01:55.340 I front loaded everything. I ran out to every 00:01:55.340 --> 00:01:58.939 store. I scanned every CD, every DVD. And it 00:01:58.939 --> 00:02:01.439 took me that long to actually get the buy box 00:02:01.439 --> 00:02:04.299 just because I was new to the game. And I was 00:02:04.299 --> 00:02:06.620 so excited. And I went and spent all my money. 00:02:06.680 --> 00:02:09.300 And I was left sitting there wondering what the 00:02:09.300 --> 00:02:11.439 hell is taking so long. Well, it's too late. 00:02:11.479 --> 00:02:14.219 By the time it's already sent, like to have it 00:02:14.219 --> 00:02:16.139 sent back to you would have cost me hundreds, 00:02:16.319 --> 00:02:19.180 thousands of dollars. So I already, I screwed 00:02:19.180 --> 00:02:23.219 myself over by being new and not new to, like 00:02:23.219 --> 00:02:28.039 I knew the rules. I 100 % knew that I should 00:02:28.039 --> 00:02:30.060 not have done this, but I was just so excited 00:02:30.060 --> 00:02:32.080 that nothing else mattered. And I paid the price 00:02:32.080 --> 00:02:34.419 and it probably cost me a couple thousand dollars 00:02:34.419 --> 00:02:36.300 in sales. Now that I look back on it, it was 00:02:36.300 --> 00:02:40.090 100 % stupid. And I guess I paid the stupid tax 00:02:40.090 --> 00:02:41.949 so everybody else doesn't have to, because when 00:02:41.949 --> 00:02:44.550 people now are brand new in a used category, 00:02:44.770 --> 00:02:46.889 I say, hey, hold up. You can't go crazy with 00:02:46.889 --> 00:02:49.090 this. You got to you got to be a little bit smarter 00:02:49.090 --> 00:02:51.610 than a used book. I was just because I was I 00:02:51.610 --> 00:02:53.789 was a fool. So, yeah, that was my real life experience. 00:02:54.030 --> 00:02:56.689 True, true life. You know, reselling mindset 00:02:56.689 --> 00:03:00.990 podcast style. Johnny, take it over. So there's 00:03:00.990 --> 00:03:05.789 an old quote from a scholar, I'd like to say. 00:03:06.509 --> 00:03:10.030 More money, more problems. So if you have more 00:03:10.030 --> 00:03:13.289 money, you're like, oh, I have more opportunities 00:03:13.289 --> 00:03:16.050 to do more things. And it's really tempting to 00:03:16.050 --> 00:03:20.210 blow your backstock of money on either more inventory. 00:03:20.409 --> 00:03:24.250 Hey, maybe I'll get a smallish warehouse thing 00:03:24.250 --> 00:03:26.650 that I'll cobble together. Now I got rent overhead. 00:03:27.469 --> 00:03:31.569 Or maybe I will hire an employee. I got enough 00:03:31.569 --> 00:03:37.000 to pay him for a week. You inherit these problems 00:03:37.000 --> 00:03:42.419 with excess cash if you decide to grow too quickly, 00:03:42.500 --> 00:03:47.139 I'd say, or move too fast. And it's a downfall 00:03:47.139 --> 00:03:49.500 spiral because you'll fail and then you try to 00:03:49.500 --> 00:03:51.240 figure out how to prevent yourself from failing 00:03:51.240 --> 00:03:54.539 because you can see it coming. And getting yourself 00:03:54.539 --> 00:03:57.560 out of that hole is terrible. And then I see 00:03:57.560 --> 00:04:00.280 other people that, hey, like, I got these credit 00:04:00.280 --> 00:04:03.360 cards. It's like Monopoly money. I can grow my 00:04:03.360 --> 00:04:06.879 business super quick. I'll spend $2 ,000 in credit 00:04:06.879 --> 00:04:09.639 cards and I'll get it back in a month because 00:04:09.639 --> 00:04:11.960 my sales are great. And then something happens 00:04:11.960 --> 00:04:16.160 or like the buy box fiasco. And then like, oh, 00:04:16.439 --> 00:04:20.319 my prediction was wrong. What do I do now? I 00:04:20.319 --> 00:04:22.199 guess I got to schedule one -on -one with Mike 00:04:22.199 --> 00:04:26.040 and Johnny. No, no, don't do that. I think it's 00:04:26.040 --> 00:04:29.420 so true, man, because I can't spend all the money 00:04:29.420 --> 00:04:31.819 I make on Amazon. I can't spend it cherry picking 00:04:31.819 --> 00:04:34.879 in my area, right? Everybody yelled, Mike, just 00:04:34.879 --> 00:04:37.480 do both. Just do both. I can go on Facebook marketplace 00:04:37.480 --> 00:04:39.959 right now. And like there's people that literally 00:04:39.959 --> 00:04:42.540 sell gay lords of media within like an hour of 00:04:42.540 --> 00:04:44.399 me. Right. So like what Johnny's saying, I could 00:04:44.399 --> 00:04:47.180 go spend all my money. But I see the problem 00:04:47.180 --> 00:04:49.259 is, Johnny, dude, they don't care what we say. 00:04:49.319 --> 00:04:51.339 They don't care what nobody says because they're 00:04:51.339 --> 00:04:53.920 going to do it the right way. And they're they're 00:04:53.920 --> 00:04:57.199 one opportunity is unlike any other that's ever 00:04:57.199 --> 00:04:59.839 existed. So it's so hard to get it through to 00:04:59.839 --> 00:05:03.000 people that. uh like it's it's all right to slow 00:05:03.000 --> 00:05:05.040 down because i think all resellers want to grow 00:05:05.040 --> 00:05:06.959 so fast and always be growing and growing and 00:05:06.959 --> 00:05:10.860 growing but i do believe 95 of them think that 00:05:10.860 --> 00:05:12.740 their situation is going to be different even 00:05:12.740 --> 00:05:15.339 though me and johnny have loaded the car with 00:05:15.339 --> 00:05:17.600 books had to carry books up and down multiple 00:05:17.600 --> 00:05:19.800 flights of steps thousands of pounds of books 00:05:19.800 --> 00:05:23.209 and 110 degree heat their situation is going 00:05:23.209 --> 00:05:25.689 to be different. Even though it says, even though 00:05:25.689 --> 00:05:27.329 the weather channel says it's going to be 110 00:05:27.329 --> 00:05:30.089 degrees, their situation will be different. There's 00:05:30.089 --> 00:05:32.310 going to be millions and trillions of dollars 00:05:32.310 --> 00:05:34.350 to be made. And me and Johnny are like, don't 00:05:34.350 --> 00:05:37.209 you dare, don't do that. But to them, it's like, 00:05:37.269 --> 00:05:40.379 it's hard to convince somebody else. especially 00:05:40.379 --> 00:05:43.459 a reseller when an opportunity in quotation marks 00:05:43.459 --> 00:05:46.120 is sitting right in front of them. And it seems 00:05:46.120 --> 00:05:48.939 too good to be true. How could I ever lose money? 00:05:49.100 --> 00:05:51.560 I'm just like, all right, let me know how that 00:05:51.560 --> 00:05:53.560 goes for you. We've seen it happen over the years. 00:05:54.180 --> 00:05:56.360 Yeah. And if you're up North, like Tommy boy, 00:05:56.399 --> 00:05:58.220 and you got the dog sled on the way to the estate 00:05:58.220 --> 00:06:02.779 sale, trying to load that thing up jokes aside. 00:06:02.839 --> 00:06:06.420 I mean, it's an inherent problem because it. 00:06:06.759 --> 00:06:09.160 if you buy the truckload of books for the first 00:06:09.160 --> 00:06:11.279 time just because you have the cash flow to do 00:06:11.279 --> 00:06:15.839 so it you don't account for all the labor that's 00:06:15.839 --> 00:06:18.120 involved in there or the space or you're like 00:06:18.120 --> 00:06:21.019 i'll deal with the space if i need to and then 00:06:21.019 --> 00:06:24.360 you need to because you overbought or you miscalculated 00:06:24.360 --> 00:06:26.959 or something and now you're paying rent at least 00:06:26.959 --> 00:06:30.199 a storage unit i mean you've created temporary 00:06:30.199 --> 00:06:32.399 problems with yourself that the key word in there 00:06:32.399 --> 00:06:37.620 is problems um And we're not saying don't ever 00:06:37.620 --> 00:06:40.459 do these things, but you have to be prepared 00:06:40.459 --> 00:06:45.339 and don't blow your entire reseller savings on 00:06:45.339 --> 00:06:48.560 experimenting and growing and stuff of that nature. 00:06:49.800 --> 00:06:55.819 And it's hard because what we do, it has a bigger 00:06:55.819 --> 00:06:58.360 rate of return than the stock market. And it's 00:06:58.360 --> 00:07:01.550 hard not to just go full hog on. Let's see how 00:07:01.550 --> 00:07:03.990 fast I can compound my money by buying as much 00:07:03.990 --> 00:07:06.790 product as humanly possible and working a ridiculously 00:07:06.790 --> 00:07:10.910 amount of hours until I fall over debt. It's 00:07:10.910 --> 00:07:13.129 hard not to do that. Like Mike said, opportunities 00:07:13.129 --> 00:07:16.149 are right in front of you. Why not? Well, the 00:07:16.149 --> 00:07:19.970 answer is you're not ready. You need to grow 00:07:19.970 --> 00:07:23.129 into that. I think you honestly do. I think the 00:07:23.129 --> 00:07:25.569 only way people learn this lesson is by doing 00:07:25.569 --> 00:07:29.040 it. And absolutely wasting three weeks of their 00:07:29.040 --> 00:07:32.480 life trying to get through it. Because we see 00:07:32.480 --> 00:07:34.480 it, right? We see it in the Discord. Like people 00:07:34.480 --> 00:07:36.399 post and they're like, look at all this stuff 00:07:36.399 --> 00:07:39.959 I just got. And like, I know like that person 00:07:39.959 --> 00:07:42.819 is so excited. I'm excited for them. And I think 00:07:42.819 --> 00:07:47.199 to myself, don't come to my house. don't back 00:07:47.199 --> 00:07:50.000 that truck up to my house because there is no 00:07:50.000 --> 00:07:52.759 shot. You can pay me to unload them damn books 00:07:52.759 --> 00:07:55.759 and get, you know, five to 10 % that are good 00:07:55.759 --> 00:07:58.579 for Amazon. Like I've been there, but I guess 00:07:58.579 --> 00:08:01.459 you got to experience. And you know, here I'm 00:08:01.459 --> 00:08:03.720 the person now I am a little bit more weary. 00:08:03.819 --> 00:08:05.939 Like if somebody says, Hey, you know, here's 00:08:05.939 --> 00:08:07.600 like, Deb does it all the time. Like that's probably 00:08:07.600 --> 00:08:09.540 not a good deal. Or you'll tell me, Hey, I probably 00:08:09.540 --> 00:08:11.360 wouldn't buy that stuff or Hey, buy that stuff. 00:08:11.459 --> 00:08:14.509 I do listen more than I used to. But even still, 00:08:14.589 --> 00:08:16.050 every once in a while, Johnny, I'll come across 00:08:16.050 --> 00:08:17.889 that Facebook marketplace list and I'm like, 00:08:17.990 --> 00:08:20.370 what could go wrong? All right, there's no way 00:08:20.370 --> 00:08:23.689 I lose money. You won't lose money if you just 00:08:23.689 --> 00:08:25.910 go like penny for penny. You never lose money 00:08:25.910 --> 00:08:28.110 and resell them penny for penny. But how much 00:08:28.110 --> 00:08:30.990 damn time? and how much work is going into this 00:08:30.990 --> 00:08:33.370 one. If you just went and ran your route, went 00:08:33.370 --> 00:08:34.990 to your thrift stores, went to your libraries, 00:08:35.190 --> 00:08:37.690 you'd be way better off. Instead of getting, 00:08:37.909 --> 00:08:40.169 I don't know, $50 an hour, you're now down to 00:08:40.169 --> 00:08:43.190 $4 an hour just because of all the manual work. 00:08:43.889 --> 00:08:46.230 And yeah, those photos, man, I see them, I'm 00:08:46.230 --> 00:08:48.230 like... Yeah, those are the before photos. Where's 00:08:48.230 --> 00:08:50.769 the after photos where that truck is empty and 00:08:50.769 --> 00:08:53.669 that person is drinking a Gatorade sweat dripping 00:08:53.669 --> 00:08:56.950 down their brow and they got the rocky bandana 00:08:56.950 --> 00:08:59.549 on and they just look like they've been through 00:08:59.549 --> 00:09:02.009 it. Where are those photos? We never see those. 00:09:02.070 --> 00:09:04.590 We just see the look how much stuff is in the 00:09:04.590 --> 00:09:09.009 truck or car or U -Haul or whatever. It's media, 00:09:09.409 --> 00:09:11.250 right? I try to get this through to everybody. 00:09:11.450 --> 00:09:13.590 This stuff is everywhere. Nobody else is going 00:09:13.590 --> 00:09:16.259 to buy this stuff off Facebook Marketplace. You 00:09:16.259 --> 00:09:18.279 can offer next to nothing for it. It will sit 00:09:18.279 --> 00:09:20.299 there forever. I've seen it happen. I've made 00:09:20.299 --> 00:09:23.440 some good deals because of it. And I think just 00:09:23.440 --> 00:09:25.539 because you have the capital, I try to tell us 00:09:25.539 --> 00:09:27.860 because a lot of people grow pretty quick. And 00:09:27.860 --> 00:09:29.960 all of a sudden, they go from making $1 ,000 00:09:29.960 --> 00:09:32.659 a month to $5 ,000 a month. I try to tell people, 00:09:32.700 --> 00:09:35.899 be strategic with your money. Just because you 00:09:35.899 --> 00:09:37.600 got more coming in, just because I made more 00:09:37.600 --> 00:09:39.820 money than I ever have in my Amazon career this 00:09:39.820 --> 00:09:42.320 year, it's not like I'm out. just throwing money 00:09:42.320 --> 00:09:44.379 around, right? You still have to be smart with 00:09:44.379 --> 00:09:46.740 your money. And there's always going to be another 00:09:46.740 --> 00:09:49.000 opportunity. This isn't going to be the only 00:09:49.000 --> 00:09:51.600 time somebody has a house full of books. This 00:09:51.600 --> 00:09:53.299 isn't going to be the only time somebody's selling 00:09:53.299 --> 00:09:57.879 a Gaylord of DVDs or CDs. When the time comes 00:09:57.879 --> 00:10:00.039 and maybe you can't get it from your sources, 00:10:00.100 --> 00:10:02.179 maybe you try the route. But I think another 00:10:02.179 --> 00:10:04.480 thing is, there's no like, people don't do test 00:10:04.480 --> 00:10:06.500 buys, right? People are just like, just give 00:10:06.500 --> 00:10:08.220 me it all, right? It's not like, hey, can I come 00:10:08.220 --> 00:10:10.159 over and take a look at it? They're just like, 00:10:10.440 --> 00:10:12.340 What's up, Amazon tellers? We wanted to take 00:10:12.340 --> 00:10:14.460 a second to talk about GoToLister, the software 00:10:14.460 --> 00:10:16.960 me and Johnny both use to list and manage our 00:10:16.960 --> 00:10:20.039 inventory and grow our businesses. With the fastest 00:10:20.039 --> 00:10:22.000 listing speeds out there and built -in profit 00:10:22.000 --> 00:10:25.419 analytics, it's a no -brainer. Easily and quickly 00:10:25.419 --> 00:10:28.340 have items available for sale using 2D barcodes 00:10:28.340 --> 00:10:30.639 and get more for your items with its built -in 00:10:30.639 --> 00:10:33.179 smart pricing. Make sure to check out the 30 00:10:33.179 --> 00:10:36.080 -day free trial at gotolister .com backslash 00:10:36.080 --> 00:10:38.519 Mike or using the link in the description below. 00:10:39.370 --> 00:10:41.529 Here's the money. I'll deal with it, right? It's 00:10:41.529 --> 00:10:44.169 never like, I'll take one Gaylord. It's like, 00:10:44.230 --> 00:10:46.289 well, you got five of them. I guess I got to 00:10:46.289 --> 00:10:48.149 take all five. It's like, you've never even done 00:10:48.149 --> 00:10:50.389 a single one. It's your wallet. You're the one 00:10:50.389 --> 00:10:55.049 in control, not them. And it's not even our business 00:10:55.049 --> 00:10:57.210 of reselling that this is an issue. And we see 00:10:57.210 --> 00:11:00.210 it happening in sports and movies. People get 00:11:00.210 --> 00:11:02.070 a lot of money and they don't know how to handle 00:11:02.070 --> 00:11:04.590 it. And they blow it all. I mean, like MC Hammer. 00:11:05.240 --> 00:11:08.000 nick cage i love me some nick cage but damn does 00:11:08.000 --> 00:11:11.039 he not know how to hold on to a dollar um and 00:11:11.039 --> 00:11:13.179 even in the music industry it's all over the 00:11:13.179 --> 00:11:16.960 place anybody who's who hasn't had excess money 00:11:16.960 --> 00:11:21.299 before tends to mismanagement until and maybe 00:11:21.299 --> 00:11:23.279 that's a necessary evil they mismanagement and 00:11:23.279 --> 00:11:25.679 then they figure out never again and they have 00:11:25.679 --> 00:11:28.039 to go through that um it's just like us saying 00:11:28.039 --> 00:11:29.700 no don't do it and they do it anyway they gotta 00:11:29.700 --> 00:11:34.629 learn from themselves right but and The other 00:11:34.629 --> 00:11:38.250 thing I see happen is they bring on staff or 00:11:38.250 --> 00:11:41.490 they hire a person and then, I don't know, a 00:11:41.490 --> 00:11:43.490 month to three months later, they have to let 00:11:43.490 --> 00:11:46.330 that person go. That is not fair to that person. 00:11:46.759 --> 00:11:49.460 Because you were incompetent enough not to forecast 00:11:49.460 --> 00:11:52.600 correctly or you guessed and your guess was horribly 00:11:52.600 --> 00:11:56.340 wrong. I've seen this happen a lot. I'm not talking 00:11:56.340 --> 00:11:58.500 about the poor Philippines VA. I'm talking about 00:11:58.500 --> 00:12:01.360 some guy to help you or girl come in and help 00:12:01.360 --> 00:12:03.980 you process and or photograph or do something. 00:12:04.200 --> 00:12:06.759 They're let go in one to three months time because 00:12:06.759 --> 00:12:11.360 you couldn't, you didn't give the business enough 00:12:11.360 --> 00:12:15.039 time to fully pay them indefinitely. And you're 00:12:15.039 --> 00:12:18.059 kind of trying to rush it into profitability 00:12:18.059 --> 00:12:20.480 to pay for them. You got a little bit of money. 00:12:20.519 --> 00:12:23.080 It's a buffer. But when that buffer runs out, 00:12:23.159 --> 00:12:25.100 it's like you were them and it's always them 00:12:25.100 --> 00:12:27.240 that gets cut. That's unfair, unfortunately. 00:12:27.679 --> 00:12:30.059 Yeah, I think you're right, too, because a lot 00:12:30.059 --> 00:12:33.090 of people. are so quick to get an employee and 00:12:33.090 --> 00:12:35.909 i think i think it could be very beneficial to 00:12:35.909 --> 00:12:38.570 businesses if you have it laid out but i feel 00:12:38.570 --> 00:12:40.429 like the percent of people that have it laid 00:12:40.429 --> 00:12:42.330 out versus the percent that don't the resale 00:12:42.330 --> 00:12:45.889 space is like 10 to 90 and 10 being the people 00:12:45.889 --> 00:12:47.750 that actually have things calculated because 00:12:47.750 --> 00:12:49.549 i'll tell you what most people if you dropped 00:12:49.549 --> 00:12:51.230 an employee off of their door today that said 00:12:51.230 --> 00:12:53.500 they need an employee They would say, oh, yeah, 00:12:53.600 --> 00:12:56.679 you can go over there and you can work on this. 00:12:56.759 --> 00:12:59.500 And it's like, what the hell? A lot of these 00:12:59.500 --> 00:13:01.299 people, even if they were resellers before, they 00:13:01.299 --> 00:13:03.919 don't know your expectations. Do you have SOPs, 00:13:03.960 --> 00:13:06.159 what you expect from them, when they're going 00:13:06.159 --> 00:13:08.019 to work, how often they're going to work, whatever. 00:13:09.159 --> 00:13:12.889 Resellers are the most lackluster. Sit back business 00:13:12.889 --> 00:13:16.009 owner operators ever and they don't understand 00:13:16.009 --> 00:13:18.750 that there needs to be processes in place. I 00:13:18.750 --> 00:13:20.350 mean, you've you've been through the ropes when 00:13:20.350 --> 00:13:23.110 it comes to employees before. And I know for 00:13:23.110 --> 00:13:25.009 a fact you have everything laid out that people 00:13:25.009 --> 00:13:27.009 just don't show up. And then you're like, well, 00:13:27.129 --> 00:13:29.049 let's see what we're going to do today. And you 00:13:29.049 --> 00:13:30.889 sit there for 30 minutes and try to figure out 00:13:30.889 --> 00:13:32.409 where you're going to send that employee to go 00:13:32.409 --> 00:13:35.250 work. Yeah, you can't have them just twiddling 00:13:35.250 --> 00:13:37.409 thumbs because you're just burning money at that 00:13:37.409 --> 00:13:44.059 point and also burning their time. So we said 00:13:44.059 --> 00:13:46.480 when not to do it, but when should you do it? 00:13:46.500 --> 00:13:50.159 When should you do it? It's probably, you got 00:13:50.159 --> 00:13:52.580 at least six months of them working 40 hours 00:13:52.580 --> 00:13:55.980 a week in the bank. And even if you bring them 00:13:55.980 --> 00:13:57.879 on part -time, so that's a year essentially. 00:13:58.679 --> 00:14:01.659 I would say that's a good starting point, but 00:14:01.659 --> 00:14:05.840 you got to make sure you can continually bankroll 00:14:05.840 --> 00:14:08.820 on top of that six months. It can't just be six 00:14:08.820 --> 00:14:10.679 months and then we'll think about paying them 00:14:10.679 --> 00:14:13.720 again. Once that six months is up. No, you got 00:14:13.720 --> 00:14:15.639 to keep funneling it in so they can continue 00:14:15.639 --> 00:14:19.080 to work. But I would say a six month head start 00:14:19.080 --> 00:14:20.940 is a good starting point. You could do it with 00:14:20.940 --> 00:14:24.440 less, but I'm being conservative in my number 00:14:24.440 --> 00:14:26.639 here. And let's go for conservative because we 00:14:26.639 --> 00:14:29.000 want to keep Mr. Billy or Miss Sally employed. 00:14:29.360 --> 00:14:33.940 I think I think it works. The idea that tracking 00:14:33.940 --> 00:14:37.629 your employee, tracking your. extra income because 00:14:37.629 --> 00:14:39.250 if you bring somebody on right you should be 00:14:39.250 --> 00:14:42.110 making extra money uh is important it's the same 00:14:42.110 --> 00:14:43.950 if you're just buying the product right so you 00:14:43.950 --> 00:14:45.710 have two aspects getting employee quick or buying 00:14:45.710 --> 00:14:47.710 too much product quick you should track both 00:14:47.710 --> 00:14:48.990 of these because if you're going to continue 00:14:48.990 --> 00:14:51.379 to buy more You should be able to say, hey, I'm 00:14:51.379 --> 00:14:53.299 making X amount of dollars per hour. Here's how 00:14:53.299 --> 00:14:56.639 much more inventory I'm listing, selling, sending 00:14:56.639 --> 00:14:59.299 to Amazon, listing on eBay. Same with the employee. 00:14:59.480 --> 00:15:01.539 How much more revenue? How many more listings 00:15:01.539 --> 00:15:03.659 am I doing now that I have an employee? How much 00:15:03.659 --> 00:15:05.460 more money am I making now that I have an employee? 00:15:05.620 --> 00:15:08.419 I forget what the rule is. I know I'm bad, but 00:15:08.419 --> 00:15:10.940 I forget. For every one employee, you should 00:15:10.940 --> 00:15:14.080 make X amount of dollars that they're actually 00:15:14.080 --> 00:15:15.960 being paid. I don't know what it is, but I know 00:15:15.960 --> 00:15:17.980 it's more than one X because then you're just 00:15:17.980 --> 00:15:22.639 breaking even, right? But I think a lot of people 00:15:22.639 --> 00:15:25.279 just hire somebody or buy a lot of inventory 00:15:25.279 --> 00:15:28.940 and they don't track those things. I think if 00:15:28.940 --> 00:15:31.480 I have an employee, we better at least be doubling 00:15:31.480 --> 00:15:34.809 what we're doing. So I don't care what that person 00:15:34.809 --> 00:15:38.049 makes per hour. I want to double my actual revenue 00:15:38.049 --> 00:15:40.070 coming in from the business, whether that's eBay 00:15:40.070 --> 00:15:42.990 or Amazon. If they make $20 an hour, yeah, I'll 00:15:42.990 --> 00:15:44.669 track how much I'm paying them. But my overall 00:15:44.669 --> 00:15:46.889 revenue should be doubling because theoretically 00:15:46.889 --> 00:15:50.490 we're doing double the work. Right. And that 00:15:50.490 --> 00:15:52.210 leads me to what I was going to say here. You 00:15:52.210 --> 00:15:55.889 can't do the same thing you were doing by just 00:15:55.889 --> 00:15:57.629 bringing on another person because then you're 00:15:57.629 --> 00:16:00.289 making negative dollars. You're producing more. 00:16:00.490 --> 00:16:03.629 Now there's two of you. So either you need to, 00:16:03.649 --> 00:16:06.509 if you're overbuying, you're in a good place. 00:16:06.549 --> 00:16:09.029 You don't have to up your inventory purchasing. 00:16:09.490 --> 00:16:12.549 So they've come on to help you with that. If 00:16:12.549 --> 00:16:16.169 you're underbuying, like you're able to do all 00:16:16.169 --> 00:16:18.049 the work, well, then you need to buy more. That's 00:16:18.049 --> 00:16:20.029 another expense you've just brought on because 00:16:20.029 --> 00:16:22.990 your cost of goods is now, well, probably doubled 00:16:22.990 --> 00:16:26.799 at this point. And then the packaging supplies. 00:16:27.100 --> 00:16:29.259 I don't care if you're doing Amazon or eBay, 00:16:29.419 --> 00:16:31.000 you're going to have to buy more because you're 00:16:31.000 --> 00:16:33.700 going to sell more. Assuming the listings go 00:16:33.700 --> 00:16:36.340 up either in eBay or Amazon, we'll call a box 00:16:36.340 --> 00:16:42.399 a listing, I guess. And the outflow has to be 00:16:42.399 --> 00:16:44.679 more. It cannot be the same because you're just 00:16:44.679 --> 00:16:47.559 going to put yourself in a bad position and you're 00:16:47.559 --> 00:16:50.250 now. You don't have excess money now because 00:16:50.250 --> 00:16:52.730 you've given all the excess money to the employee 00:16:52.730 --> 00:16:55.710 or maintaining excess money, and you're not growing. 00:16:55.909 --> 00:16:58.889 You're maintaining and you're kind of getting, 00:16:59.009 --> 00:17:02.070 well, I'm just going to say it, lazy. Don't be 00:17:02.070 --> 00:17:05.130 the lazy reseller. Be the efficient reseller. 00:17:05.150 --> 00:17:08.289 Use them to enhance your business, not maintain 00:17:08.289 --> 00:17:13.119 the status quo. There's other problems that come 00:17:13.119 --> 00:17:15.640 with both hiring an employee and buying too much 00:17:15.640 --> 00:17:17.480 inventory. If you hire an employee, if we're 00:17:17.480 --> 00:17:19.519 doing more work, we're probably going to have 00:17:19.519 --> 00:17:21.099 to buy more inventory. You're not accounting 00:17:21.099 --> 00:17:23.359 for that. You're going from 20 listings a day 00:17:23.359 --> 00:17:26.200 to 40 listings a day or one box a week to five 00:17:26.200 --> 00:17:28.319 boxes a week. And it also works the other side. 00:17:28.400 --> 00:17:31.140 If you're buying too much inventory. Well, like 00:17:31.140 --> 00:17:32.799 Johnny said, you're going to be sending more 00:17:32.799 --> 00:17:34.299 inventory. You're going to be listing more inventory. 00:17:34.420 --> 00:17:36.240 You're going to need more packing supplies. So 00:17:36.240 --> 00:17:38.960 it's not just that initial, oh, I buy more inventory 00:17:38.960 --> 00:17:40.759 or, oh, I'm hiring an employee. There's like 00:17:40.759 --> 00:17:44.420 so many subcategories of expenses that you don't 00:17:44.420 --> 00:17:46.099 think about. You just see the glorious employee 00:17:46.099 --> 00:17:48.660 and, hey, I can I can do this now. And all of 00:17:48.660 --> 00:17:50.279 a sudden you're like, well, well, you come into 00:17:50.279 --> 00:17:52.200 work and we got nothing to list today because 00:17:52.200 --> 00:17:55.200 my five listing that I had projected out for 00:17:55.200 --> 00:17:57.759 the next three months, it's all it's all done 00:17:57.759 --> 00:18:00.660 now. Maybe this employee. is a superstar and 00:18:00.660 --> 00:18:02.539 you're like oh maybe we can only get maybe this 00:18:02.539 --> 00:18:05.720 person i'm expecting like 10 15 listens a day 00:18:05.720 --> 00:18:07.180 and this person shows up and they're doing like 00:18:07.180 --> 00:18:09.380 they're like oh i can do like 50 of these a day 00:18:09.380 --> 00:18:11.799 and you're like shit i ain't got the inventory 00:18:11.799 --> 00:18:14.400 for that right all of a sudden you create more 00:18:14.400 --> 00:18:16.839 problems by doing either one of that all -star 00:18:16.839 --> 00:18:19.720 overachiever employee which you want but you 00:18:19.720 --> 00:18:21.980 can't keep up with them and they don't know yeah 00:18:21.980 --> 00:18:25.559 dude you create other problems by this and You 00:18:25.559 --> 00:18:27.400 can't account for everything, right? Me and Johnny 00:18:27.400 --> 00:18:29.059 are not sitting here. Every decision we've made 00:18:29.059 --> 00:18:31.839 when it comes to bulk or employees, 100 % was 00:18:31.839 --> 00:18:33.819 like, oh, this is guaranteed to work. There's 00:18:33.819 --> 00:18:36.460 no guarantee in this, but you can sort of forecast 00:18:36.460 --> 00:18:38.660 things out. Kind of like any business that has 00:18:38.660 --> 00:18:41.759 a theft, right? They call it shrink. Every business 00:18:41.759 --> 00:18:44.359 accounts for three to 6 % shrink. Just stuff 00:18:44.359 --> 00:18:46.500 that walks out the door disappears. It's the 00:18:46.500 --> 00:18:47.859 same in resale. And you're going to have these 00:18:47.859 --> 00:18:50.640 sunk cost categories where it just is what it 00:18:50.640 --> 00:18:52.980 is, but you can be like. I mean, if I was to 00:18:52.980 --> 00:18:54.839 hire an employee, dude, I would do exactly what 00:18:54.839 --> 00:18:57.579 you said, right? We have wages set aside for 00:18:57.579 --> 00:19:00.539 six months. How much more productivity am I going 00:19:00.539 --> 00:19:02.400 to get? Well, you really don't know that because 00:19:02.400 --> 00:19:04.180 you don't know if your employee is going to be 00:19:04.180 --> 00:19:06.200 great. Maybe you got to get rid of this person. 00:19:06.849 --> 00:19:09.250 Right. You're going to have turnover. And also, 00:19:09.289 --> 00:19:11.450 we haven't even talked about training time. You're 00:19:11.450 --> 00:19:13.390 going to be moving slower during training time. 00:19:13.490 --> 00:19:15.509 You're going to get less done during training 00:19:15.509 --> 00:19:18.650 time. But it's a necessary evil in order to, 00:19:18.730 --> 00:19:22.289 in fact, train them. I mean, you can have efficiencies 00:19:22.289 --> 00:19:25.480 in place where it's pretty. We'll call it stupid 00:19:25.480 --> 00:19:27.980 proof, but it's their first time with it. And 00:19:27.980 --> 00:19:29.680 if they've never been a reseller before, they 00:19:29.680 --> 00:19:31.440 have no idea what's going on. They're going to 00:19:31.440 --> 00:19:34.160 ask you questions, unnecessary questions, but 00:19:34.160 --> 00:19:36.900 they're curious and it is okay. And it is fair 00:19:36.900 --> 00:19:39.480 to answer those questions because they're there. 00:19:39.539 --> 00:19:41.859 They have no idea what's going on. They're like 00:19:41.859 --> 00:19:46.039 lost in the swarm of, wow, this is reselling 00:19:46.039 --> 00:19:48.500 life. What's that over there? What's this over 00:19:48.500 --> 00:19:51.240 there? What's this do? Can I press the red button, 00:19:51.359 --> 00:19:55.150 Johnny? Yes. I do think though, I think one thing 00:19:55.150 --> 00:19:58.329 that is true is if you're a newer reseller and 00:19:58.329 --> 00:20:00.690 you get one of these crazy big opportunities 00:20:00.690 --> 00:20:03.630 to buy a bunch of stuff, I think you do get through 00:20:03.630 --> 00:20:05.650 it quicker and more efficiently because it's 00:20:05.650 --> 00:20:07.690 like your first time, right? You're motivated. 00:20:07.710 --> 00:20:10.630 I just think about, we got a guy in the group 00:20:10.630 --> 00:20:14.710 Sigil. He's like a musician and his first bulk 00:20:14.710 --> 00:20:20.140 buy was like 14 ,000 CDs. And like 95 % of people 00:20:20.140 --> 00:20:21.759 would have just folded up and been like, yeah, 00:20:21.819 --> 00:20:23.680 this is way too much. But I think because he 00:20:23.680 --> 00:20:25.940 was a musician and it was like his first big 00:20:25.940 --> 00:20:28.680 pickup, he was just like, I love this shit, right? 00:20:28.759 --> 00:20:31.180 But that's like, that's a percent of a percent 00:20:31.180 --> 00:20:33.740 like we've been talking about it. When we've 00:20:33.740 --> 00:20:36.359 been doing this long enough, it's hard to convince 00:20:36.359 --> 00:20:39.130 me and Johnny to come to the basement. And just 00:20:39.130 --> 00:20:43.170 take all your books blindly, right? We're a tough 00:20:43.170 --> 00:20:44.990 sell when it comes to you just throwing a bunch 00:20:44.990 --> 00:20:48.190 of work at us and us just being like, yeah, let's 00:20:48.190 --> 00:20:50.269 do it, right? Because we have the relationships, 00:20:50.490 --> 00:20:53.450 we have the inventory already. So we take away 00:20:53.450 --> 00:20:55.890 from what we are doing now that produces income. 00:20:56.130 --> 00:20:58.089 And it's always fun to roll the dice. That's 00:20:58.089 --> 00:20:59.930 why we resell. That's why Storage Wars was like 00:20:59.930 --> 00:21:01.890 one of the biggest shows ever because I'm gonna 00:21:01.890 --> 00:21:03.930 roll up the door, Johnny. It's cool for YouTube, 00:21:04.009 --> 00:21:06.190 but most of you ain't doing damn YouTube. So 00:21:06.190 --> 00:21:07.910 don't, and even then, don't waste your time. 00:21:09.149 --> 00:21:12.950 In one hiring phase I did way back when, it wasn't 00:21:12.950 --> 00:21:17.289 that long ago, it was two years ago. It's what 00:21:17.289 --> 00:21:19.349 I call bullpen hiring. This is a thing where 00:21:19.349 --> 00:21:21.130 you hire a bunch of people and you only plan 00:21:21.130 --> 00:21:23.390 to keep a small percentage of them. In my case, 00:21:23.390 --> 00:21:25.930 it was one. I hired four people at once. And 00:21:25.930 --> 00:21:30.849 I was looking for the best person that was going 00:21:30.849 --> 00:21:33.250 to fulfill everything that I do in my business. 00:21:33.369 --> 00:21:36.069 I was looking for who can I mold to be my clone. 00:21:36.349 --> 00:21:38.910 You know what? On paper, it was this other guy. 00:21:39.750 --> 00:21:43.450 He didn't make it. He was really good in certain 00:21:43.450 --> 00:21:46.490 aspects, but he wasn't good in all aspects. And 00:21:46.490 --> 00:21:48.289 you know what? He complained a hell of a lot. 00:21:48.349 --> 00:21:51.269 But on paper, he had the most experience. Then 00:21:51.269 --> 00:21:54.890 I had another person that was really good at 00:21:54.890 --> 00:21:57.369 only one thing and garbage at the others. And 00:21:57.369 --> 00:22:02.930 then I had another person that was just. They, 00:22:02.950 --> 00:22:06.430 I don't know, they got sick a lot or they're 00:22:06.430 --> 00:22:07.750 the kind of type that just didn't want to come 00:22:07.750 --> 00:22:10.609 in all the time. And then the one person who 00:22:10.609 --> 00:22:13.529 I considered the weakest link at the top of my 00:22:13.529 --> 00:22:15.690 list ended up being the one I kept because she 00:22:15.690 --> 00:22:18.410 would always hustle. She would ask questions. 00:22:18.569 --> 00:22:21.569 She would get better. I only have to really give 00:22:21.569 --> 00:22:24.589 her instructions once and refine her over time. 00:22:25.309 --> 00:22:27.589 But she was the youngest one. This was her first 00:22:27.589 --> 00:22:31.069 job, technically, quote -unquote job at the time. 00:22:31.490 --> 00:22:35.970 And she was the best of the best, even though 00:22:35.970 --> 00:22:38.329 on paper she was the worst of the worst. But 00:22:38.329 --> 00:22:40.130 I wouldn't have known that unless I did what 00:22:40.130 --> 00:22:42.950 I did. That's the thing with turnover. You don't 00:22:42.950 --> 00:22:45.589 realize what you have and what's better unless 00:22:45.589 --> 00:22:47.509 you do something like that. I'm not saying do 00:22:47.509 --> 00:22:49.509 bullpen hiring because that costs a lot of money 00:22:49.509 --> 00:22:53.930 to do because I was letting one go a week. No, 00:22:53.930 --> 00:22:55.529 it was two weeks. Yeah. I gave him two weeks 00:22:55.529 --> 00:22:59.470 and I let one go. The team got smaller and smaller. 00:22:59.569 --> 00:23:01.329 When I got the last two, they finally asked me 00:23:01.329 --> 00:23:05.690 what's going on. But yeah, it's, I think that 00:23:05.690 --> 00:23:08.309 the problem with people hiring is it gives them 00:23:08.309 --> 00:23:11.509 an excuse for like. you can almost blame everybody 00:23:11.509 --> 00:23:13.589 else, right? Like if I go buy a bunch of shit, 00:23:13.710 --> 00:23:16.049 right? Like a bunch of CDs, DVDs, or do a book 00:23:16.049 --> 00:23:18.329 pickup, right? There's nobody to blame but myself. 00:23:18.549 --> 00:23:21.170 But if you have an employee, dude, how many failed 00:23:21.170 --> 00:23:26.289 resellers that have employees just sleep at night 00:23:26.289 --> 00:23:29.690 knowing and blaming that, oh, it's my other employee 00:23:29.690 --> 00:23:31.730 that's dragging me down because most people can't 00:23:31.730 --> 00:23:33.609 have hard conversations, right? Most people never 00:23:33.609 --> 00:23:35.569 been in a situation where they have to let somebody 00:23:35.569 --> 00:23:39.140 go or have like a corrective action talk. I've 00:23:39.140 --> 00:23:41.599 been store manager at CBS. So like you have to 00:23:41.599 --> 00:23:43.380 do these things, right? Like there's reviews 00:23:43.380 --> 00:23:45.740 and there's corrective actions and there's level 00:23:45.740 --> 00:23:48.119 one, level two, level three. Like most people 00:23:48.119 --> 00:23:50.220 that are resellers have never had to go in and 00:23:50.220 --> 00:23:54.480 be like, Johnny, by the way, like you are dog 00:23:54.480 --> 00:23:57.460 doo doo at your job, buddy. And I'm going to 00:23:57.460 --> 00:23:58.940 have to, you're either going to have to wake 00:23:58.940 --> 00:24:01.099 up and smell the roses or I'm going to have to 00:24:01.099 --> 00:24:03.339 kick you in the bottom and send you on your way, 00:24:03.380 --> 00:24:05.180 right? Like we can sit here and joke about that. 00:24:05.240 --> 00:24:06.759 And we've had these conversations with other 00:24:06.759 --> 00:24:08.799 people and actually have had to let people go. 00:24:09.059 --> 00:24:12.380 But like 99 % of resellers, yet again, they will 00:24:12.380 --> 00:24:15.039 hang on to the, here goes another thing we can 00:24:15.039 --> 00:24:16.960 get into, hanging on to bad employees and hanging 00:24:16.960 --> 00:24:18.980 on to bad inventory when it comes to running 00:24:18.980 --> 00:24:21.900 into these things right away. One more quick 00:24:21.900 --> 00:24:24.400 thing. She couldn't type, guys. I had to teach 00:24:24.400 --> 00:24:26.960 her how to type. She was a pecker. The all -star 00:24:26.960 --> 00:24:29.900 guy, he was a college kid, you know, from Godfather. 00:24:29.900 --> 00:24:32.619 Hey, college boy. He was one of those, right? 00:24:32.980 --> 00:24:36.880 But he's not the one. Again, just because you 00:24:36.880 --> 00:24:38.559 don't know how to do something, but you have 00:24:38.559 --> 00:24:41.420 the ability to learn how to do something, that's 00:24:41.420 --> 00:24:43.920 more valuable to me. I'd rather have somebody 00:24:43.920 --> 00:24:46.000 that knows nothing than somebody that knows everything 00:24:46.000 --> 00:24:48.799 worked for me. Because it's harder to unlearn 00:24:48.799 --> 00:24:51.059 something than to learn something. It's the bigger 00:24:51.059 --> 00:24:54.579 difference there. But let's see, outside of employees, 00:24:54.859 --> 00:25:00.700 what do we got about going too fast? Yeah, there's 00:25:00.700 --> 00:25:06.000 something to be said about not necessarily overbuying, 00:25:06.039 --> 00:25:09.799 but overpromising with your connections that 00:25:09.799 --> 00:25:12.180 you're building. We always say make connections, 00:25:12.319 --> 00:25:15.259 but if you make too many of them, you're then 00:25:15.259 --> 00:25:19.000 quote -unquote obligated to pick up when they 00:25:19.000 --> 00:25:25.599 want you to. and or you've got five people to 00:25:25.599 --> 00:25:28.339 pick up and they're two hours away in five different 00:25:28.339 --> 00:25:32.559 directions um that's a long day you've just built 00:25:32.559 --> 00:25:35.140 for yourself unfortunately and also there's a 00:25:35.140 --> 00:25:38.420 space factor maybe you miscalculated how much 00:25:38.420 --> 00:25:39.980 space you'll need with all these connections 00:25:39.980 --> 00:25:42.160 you've just been grinding out over the past three 00:25:42.160 --> 00:25:44.299 months i'm not saying don't make connections 00:25:44.299 --> 00:25:46.700 but you need to make sure you can handle the 00:25:46.700 --> 00:25:49.359 connections you've acquired because You may have 00:25:49.359 --> 00:25:51.380 to drop the ball on one of them. Like, look, 00:25:51.480 --> 00:25:54.900 I can't pick up today. I have no space to put 00:25:54.900 --> 00:25:58.119 your stuff. That's not their problem. That's 00:25:58.119 --> 00:26:02.119 a you problem. Or there's a scenario of I overbooked. 00:26:02.119 --> 00:26:04.640 Sorry, I'll be there next Tuesday. They're going 00:26:04.640 --> 00:26:06.460 to cut you loose. And that may be the best connection 00:26:06.460 --> 00:26:09.880 you have. Yeah, I guess we can round out the 00:26:09.880 --> 00:26:13.220 call here with this one is having to have every 00:26:13.220 --> 00:26:16.779 damn fancy bell and whistle that you see on social 00:26:16.779 --> 00:26:20.490 media. reselling content, right? Like you just 00:26:20.490 --> 00:26:23.349 listed your first 10 items on eBay. Do we need 00:26:23.349 --> 00:26:28.329 the $250 heavy duty six tier metal storage rack 00:26:28.329 --> 00:26:31.990 from Home Depot? No, we do not. Okay. Do we need 00:26:31.990 --> 00:26:41.410 the souped up Dymo 20 XL, XS, XP, whatever it 00:26:41.410 --> 00:26:44.410 may be, thermal printer. No, we do not, right? 00:26:45.779 --> 00:26:47.839 Johnny, this happens all the time. I have so 00:26:47.839 --> 00:26:50.380 many one -on -ones. People are brand new. I tell 00:26:50.380 --> 00:26:53.759 them, start out as cheap as you can. We don't 00:26:53.759 --> 00:26:55.680 need to put all the money into something until 00:26:55.680 --> 00:26:58.319 we can figure out, does this business model work? 00:26:58.480 --> 00:27:00.779 Do I enjoy doing this? Do I have enough of around 00:27:00.779 --> 00:27:03.380 me to sustain this business model? I can't tell 00:27:03.380 --> 00:27:05.839 you how many people have literally went out. 00:27:06.160 --> 00:27:08.299 And they've had more expensive stuff than I do. 00:27:08.400 --> 00:27:10.460 And they've never sold a damn thing on Amazon. 00:27:10.720 --> 00:27:13.059 I'm sitting here like, you guys are crazy, right? 00:27:13.119 --> 00:27:15.440 I'm like, I've seen that so many times. Like, 00:27:15.480 --> 00:27:17.779 are we on the prices right? Am I supposed to 00:27:17.779 --> 00:27:20.000 like pick out how much you spent per item there? 00:27:20.140 --> 00:27:23.920 That's a table full of money. And how, if you 00:27:23.920 --> 00:27:26.420 sit in your first box, nope, but I'm ready. I'm 00:27:26.420 --> 00:27:30.940 like, no, you're not. Dude, it's, I don't know. 00:27:30.960 --> 00:27:34.619 It's like kind of like HGTV, like. compare your 00:27:34.619 --> 00:27:37.680 stuff to stuff and i'm here to tell you none 00:27:37.680 --> 00:27:38.980 of that means anything we're not even talking 00:27:38.980 --> 00:27:41.400 warehouse life we're talking they brought themselves 00:27:41.400 --> 00:27:45.039 a dedicated work computer brand new it's probably 00:27:45.039 --> 00:27:48.059 like two grand you got the dymo printer there's 00:27:48.059 --> 00:27:50.380 hundreds and hundreds of dollars there and then 00:27:50.380 --> 00:27:53.980 i don't know a year's supply of rolls that you'd 00:27:53.980 --> 00:27:57.660 sit in one box yeah um and then they got their 00:27:58.359 --> 00:28:01.059 an equal amount of stuff on those racks you mentioned 00:28:01.059 --> 00:28:04.539 of those low small boxes ready to go and it's 00:28:04.539 --> 00:28:07.619 like my god you've spent thousands and thousands 00:28:07.619 --> 00:28:10.940 of dollars and you've you may be sitting in one 00:28:10.940 --> 00:28:13.339 box but you believe in it so much you were willing 00:28:13.339 --> 00:28:18.359 to no no stop it do it slow i mean i'm a i'm 00:28:18.359 --> 00:28:20.579 a skeptic when it comes to trying new things 00:28:20.579 --> 00:28:23.380 right so like I've tried other businesses in 00:28:23.380 --> 00:28:25.640 the past and I have some I work on in the background 00:28:25.640 --> 00:28:27.400 now. But even when I started the ones that I'm 00:28:27.400 --> 00:28:30.319 continuing on the background now, like I still 00:28:30.319 --> 00:28:33.940 want to keep my overhead so damn low. I don't 00:28:33.940 --> 00:28:36.440 know. I'm too cheap. One hundred percent. Right. 00:28:36.519 --> 00:28:39.779 It's just how I how I how I was raised and the 00:28:39.779 --> 00:28:43.099 financial times I've got through. But I just 00:28:43.099 --> 00:28:47.339 can't justify throwing a. out even if it's hundreds 00:28:47.339 --> 00:28:50.680 of dollars uh on on something i have no idea 00:28:50.680 --> 00:28:52.500 whether or not it's going to be work i should 00:28:52.500 --> 00:28:54.380 have told people in the beginning take advantage 00:28:54.380 --> 00:28:57.839 of free trials buy a five dollar bluetooth scanner 00:28:57.839 --> 00:29:00.200 don't use any software you don't need it you're 00:29:00.200 --> 00:29:02.440 brand new you can suffer through seller central 00:29:02.440 --> 00:29:05.420 listing your boxes and the hand the amount of 00:29:05.420 --> 00:29:08.480 people that probably actually do that is a percent 00:29:08.480 --> 00:29:10.720 of a percent most people are just like well I'm 00:29:10.720 --> 00:29:12.900 getting the softwares. I'm getting this. And 00:29:12.900 --> 00:29:15.779 then a month from now, it is, well, my overhead 00:29:15.779 --> 00:29:18.220 cost is like $500 a month. And I'm like, well, 00:29:18.319 --> 00:29:20.200 let's see what you're paying for. You're paying 00:29:20.200 --> 00:29:22.880 for shit you don't need. A couple of things here. 00:29:23.039 --> 00:29:27.160 You should start with Seller Central because 00:29:27.160 --> 00:29:30.140 your software can be down and you have operations 00:29:30.140 --> 00:29:33.799 to maintain. And if you don't know jack all about 00:29:33.799 --> 00:29:37.019 where things are in Seller Central, or at least 00:29:37.019 --> 00:29:38.740 an idea because they keep changing the user interface. 00:29:40.039 --> 00:29:42.220 You're going to spend the day trying to figure 00:29:42.220 --> 00:29:45.180 out where, what is what, where is where, how 00:29:45.180 --> 00:29:48.039 do I do this? So I would say for at least your 00:29:48.039 --> 00:29:50.819 first thousand units you ship in, just do it 00:29:50.819 --> 00:29:53.079 all through Seller Central so you at least know 00:29:53.079 --> 00:29:55.720 the quote -unquote process. Yeah, that process 00:29:55.720 --> 00:29:57.759 will change as they update the UI, but at least 00:29:57.759 --> 00:30:01.640 you have a baseline to go off of. The other thing 00:30:01.640 --> 00:30:07.059 is it's a tightrope or a seesaw balancing act 00:30:07.059 --> 00:30:11.720 of low cost, no cost. well i'm holding myself 00:30:11.720 --> 00:30:14.980 back by not upgrading this thing here and i have 00:30:14.980 --> 00:30:16.880 the funds to do so and it's not going to hurt 00:30:16.880 --> 00:30:20.720 me to maybe upgrade to a thermal printer instead 00:30:20.720 --> 00:30:23.619 of like the brother printer yeah or or maybe 00:30:23.619 --> 00:30:26.559 i can get a faster listing software now i'm at 00:30:26.559 --> 00:30:31.059 that stage um though you can do all these things 00:30:31.059 --> 00:30:33.480 without what i just mentioned without these upgrades 00:30:33.480 --> 00:30:37.019 it is a performance enhancement that gives you 00:30:37.019 --> 00:30:39.539 your time back to then go make more money with 00:30:39.539 --> 00:30:42.119 and or quality of life free time if that's your 00:30:42.119 --> 00:30:46.539 angle so but knowing when to do that knowing 00:30:46.539 --> 00:30:49.359 when you should do that whether it's affordability 00:30:49.359 --> 00:30:52.680 or you're at that stage where it's you're holding 00:30:52.680 --> 00:30:55.900 yourself back you're hindering yourself identifying 00:30:55.900 --> 00:30:58.660 that from you yourself it's hard maybe you need 00:30:58.660 --> 00:31:01.480 to ask somebody like and i don't know ask mike 00:31:01.480 --> 00:31:04.359 mike like yeah it's time spend the money You're 00:31:04.359 --> 00:31:06.359 good to spend the money. Or we're like, no, you 00:31:06.359 --> 00:31:08.079 just started. It's not time to spend the money. 00:31:08.299 --> 00:31:10.980 I thought it would never exist in eBay land, 00:31:11.059 --> 00:31:13.420 but it does now because how many brand new eBay 00:31:13.420 --> 00:31:16.200 sellers just use the listing software, right? 00:31:16.359 --> 00:31:18.559 I feel bad for those people. I'm just saying, 00:31:18.619 --> 00:31:20.700 dude, I never thought it would exist. Like I 00:31:20.700 --> 00:31:22.299 always thought eBay would be, you have to list 00:31:22.299 --> 00:31:25.099 your shit yourself. And now they have the software, 00:31:25.180 --> 00:31:27.319 which is comparable to the listing softwares 00:31:27.319 --> 00:31:29.619 on Amazon. And there's people out there that 00:31:29.619 --> 00:31:33.140 will never actually go in and wait. Johnny, do 00:31:33.140 --> 00:31:36.960 I move up in the – I got an eBay selling tier 00:31:36.960 --> 00:31:39.160 question, right? Like I used to be down in the 00:31:39.160 --> 00:31:41.319 dumps, right? Like lowest level, right? Like 00:31:41.319 --> 00:31:45.599 I'm grade F. Does me listing items on eBay through 00:31:45.599 --> 00:31:49.819 my phone move me up the ladder to D and new sellers 00:31:49.819 --> 00:31:51.839 that never list any items through their phone 00:31:51.839 --> 00:31:54.339 that just use the cross -listing AI listing, 00:31:54.440 --> 00:31:59.460 are they now F or am I still F? I think you're 00:31:59.460 --> 00:32:05.000 all failing. I would say if you use a listing 00:32:05.000 --> 00:32:07.640 software, whether that's through your phone or 00:32:07.640 --> 00:32:11.079 desktop or whatever, your listing is going to 00:32:11.079 --> 00:32:18.559 be 70 % to 80 % correct. That's probably as good 00:32:18.559 --> 00:32:20.940 as they are right now. There are some nuances, 00:32:21.019 --> 00:32:23.319 and that includes you having to go in and correct 00:32:23.319 --> 00:32:26.539 a few minor tweaks here and there. We're not 00:32:26.539 --> 00:32:32.650 at the point yet where it does 100%. build your 00:32:32.650 --> 00:32:35.589 own and silo it to your just yourself and code 00:32:35.589 --> 00:32:38.769 it yourself you are not never going to be 100 00:32:38.769 --> 00:32:42.990 best of the best listings at present state now 00:32:42.990 --> 00:32:45.549 will that percentage increase over time well 00:32:45.549 --> 00:32:48.950 absolutely but we're not there yet all right 00:32:48.950 --> 00:32:51.170 i tried i'm still an f student on ebay and i'm 00:32:51.170 --> 00:32:53.819 i guess i'm Until something else stupid comes 00:32:53.819 --> 00:32:56.119 along that everybody's using. I'm stuck here. 00:32:56.220 --> 00:32:58.380 It's my job to crush your dreams, Mike. It's 00:32:58.380 --> 00:33:01.079 my job. Listen, the day will come when I'm no 00:33:01.079 --> 00:33:03.019 longer an F student and it is what it is. So 00:33:03.019 --> 00:33:04.660 we appreciate you all listening or watching over 00:33:04.660 --> 00:33:06.180 on YouTube. We'll talk to you all next week's 00:33:06.180 --> 00:33:08.779 episode. Thanks for listening to another episode 00:33:08.779 --> 00:33:11.400 of the Reseller's Mindset Podcast. Today's full 00:33:11.400 --> 00:33:13.680 episode and all previous episodes are available 00:33:13.680 --> 00:33:16.160 to all YouTube members along with the weekly 00:33:16.160 --> 00:33:18.920 Zoom call and private Discord. Head on over to 00:33:18.920 --> 00:33:21.720 youtube .com backslash to use book guy and consider 00:33:21.720 --> 00:33:23.759 joining for as little as $2 .99 a month.