1 00:00:00,000 --> 00:00:01,580 Welcome back to another episode 2 00:00:01,580 --> 00:00:03,500 of the Resellers Mindset Podcast. 3 00:00:03,500 --> 00:00:06,180 My name is Mike, also known as the used book guy on YouTube 4 00:00:06,180 --> 00:00:09,500 along with my friend and fellow full-time reseller, Johnny B. 5 00:00:09,500 --> 00:00:11,860 We help people start and grow their reselling businesses 6 00:00:11,860 --> 00:00:12,980 from the ground up. 7 00:00:12,980 --> 00:00:15,420 We also have a weekly Zoom call and private Discord 8 00:00:15,420 --> 00:00:16,860 for all YouTube members. 9 00:00:16,860 --> 00:00:20,020 Head on over to youtube.com backslash used book guy 10 00:00:20,020 --> 00:00:21,700 to join the channel and gain access 11 00:00:21,700 --> 00:00:24,040 to the full length podcast Zoom call 12 00:00:24,040 --> 00:00:25,700 and private Discord today. 13 00:00:25,700 --> 00:00:27,480 Let's get into this week's episode. 14 00:00:27,480 --> 00:00:30,220 What is up everyone, welcome to the first episode 15 00:00:30,220 --> 00:00:33,140 of the Resellers Mindset Podcast. 16 00:00:33,140 --> 00:00:36,700 I'm Mike, I'm a full-time media seller on Amazon and eBay. 17 00:00:36,700 --> 00:00:37,900 I'm here with Johnny B. 18 00:00:37,900 --> 00:00:41,540 He is also full-time on Amazon and eBay. 19 00:00:41,540 --> 00:00:44,460 Today's first episode, since it's the first episode, right? 20 00:00:44,460 --> 00:00:46,340 It's only fitting that we basically start 21 00:00:46,340 --> 00:00:47,180 from the beginning here. 22 00:00:47,180 --> 00:00:49,820 So the topic's gonna be where to start 23 00:00:49,820 --> 00:00:52,700 when it comes to selling on eBay and Amazon. 24 00:00:52,700 --> 00:00:55,460 So I'm more seasoned in eBay. 25 00:00:55,460 --> 00:00:58,380 Johnny B, he's a lot more seasoned, wait, no. 26 00:00:58,380 --> 00:01:00,300 I already got it wrong, right? 27 00:01:00,300 --> 00:01:01,140 First thing. 28 00:01:01,140 --> 00:01:01,980 It's the other way around, right? 29 00:01:01,980 --> 00:01:05,900 I'm more seasoned in Amazon, he's more seasoned in eBay. 30 00:01:05,900 --> 00:01:10,020 So I guess you wanna go first here with eBay? 31 00:01:10,020 --> 00:01:11,820 I mean, I'll let you kind of lead the way with eBay 32 00:01:11,820 --> 00:01:16,420 and then I'll kind of chime in as we just jump into eBay. 33 00:01:16,420 --> 00:01:17,260 Where do you start? 34 00:01:17,260 --> 00:01:19,100 There's a million different ways you can start. 35 00:01:19,100 --> 00:01:20,840 You hear it all the time. 36 00:01:20,840 --> 00:01:22,980 Well, I always like to start with the money. 37 00:01:22,980 --> 00:01:24,620 First thing you're gonna wanna do 38 00:01:24,620 --> 00:01:26,580 is you wanna set up your own business account 39 00:01:26,580 --> 00:01:30,020 at whatever financial institution you deem fit. 40 00:01:30,020 --> 00:01:33,340 Cause mixing your personal money with your business money, 41 00:01:33,340 --> 00:01:34,780 though you can do it, 42 00:01:34,780 --> 00:01:36,600 you're gonna save yourself a lot of headache, 43 00:01:36,600 --> 00:01:39,440 especially come tax season if you separated them out. 44 00:01:40,760 --> 00:01:42,780 And again, with evolving the money, 45 00:01:42,780 --> 00:01:44,620 I would also go ahead and set yourself up 46 00:01:44,620 --> 00:01:47,740 with your PayPal account if you don't already have it 47 00:01:47,740 --> 00:01:49,180 and link it to your bank account. 48 00:01:49,180 --> 00:01:51,640 That way you can funnel money a lot easier. 49 00:01:51,640 --> 00:01:55,180 And if you decide to pay for your stamps on eBay, 50 00:01:56,040 --> 00:01:58,220 you can attach a card to PayPal, 51 00:01:58,220 --> 00:02:01,860 which will then eat into the credit card you wanna use 52 00:02:01,860 --> 00:02:03,740 or the debit card you wanna use. 53 00:02:05,660 --> 00:02:08,940 So then you can sign up for a PayPal account. 54 00:02:08,940 --> 00:02:12,260 But first I would stick your fingers on the money. 55 00:02:12,260 --> 00:02:13,500 I am guilty of that, right? 56 00:02:13,500 --> 00:02:17,140 So when I started on eBay, I didn't have separate accounts. 57 00:02:17,140 --> 00:02:21,440 So I successfully did it, but you're right. 58 00:02:21,440 --> 00:02:25,220 It's like 100% more pain in the butt 59 00:02:25,220 --> 00:02:28,500 when it comes to trying to keep track of your expenses 60 00:02:28,500 --> 00:02:29,380 and everything like that, 61 00:02:29,380 --> 00:02:31,620 especially when it comes to taxes. 62 00:02:31,620 --> 00:02:33,420 And just in general understanding 63 00:02:33,420 --> 00:02:35,360 how much money is coming back to you, 64 00:02:35,360 --> 00:02:38,060 it's easier if you have an overall picture, 65 00:02:38,060 --> 00:02:40,220 if you have a separate account so you exactly can see. 66 00:02:40,220 --> 00:02:43,340 Now I have Citizens Bank, that's my bank. 67 00:02:43,340 --> 00:02:44,500 So I have my main account 68 00:02:44,500 --> 00:02:46,120 and then I have my reselling account. 69 00:02:46,120 --> 00:02:48,540 So I know exactly what's going in. 70 00:02:48,540 --> 00:02:50,460 I basically call it my eBay card, right? 71 00:02:50,460 --> 00:02:53,180 It's my eBay account, my eBay card. 72 00:02:53,180 --> 00:02:55,740 And that makes everything a lot easier just to track, 73 00:02:55,740 --> 00:02:57,740 you see how much you're getting back out of it. 74 00:02:57,740 --> 00:02:59,700 And it just makes everything easier. 75 00:02:59,700 --> 00:03:01,620 And I think that's a good thing to hit on, 76 00:03:01,620 --> 00:03:03,200 like right off the beginning is, 77 00:03:03,200 --> 00:03:05,900 you wanna be set up for success from the beginning, right? 78 00:03:05,900 --> 00:03:08,580 An extra bank account, it's not gonna cost you nothing. 79 00:03:08,580 --> 00:03:09,500 You can walk into your bank 80 00:03:09,500 --> 00:03:12,020 where you have your normal checking savings account 81 00:03:12,020 --> 00:03:13,540 and they'll open up another account for you. 82 00:03:13,540 --> 00:03:15,140 It's not like there's a rolling fee or anything, 83 00:03:15,140 --> 00:03:17,260 at least with my bank in my experience, 84 00:03:17,260 --> 00:03:18,100 it might be different. 85 00:03:18,100 --> 00:03:18,920 Mine's a little bit different. 86 00:03:18,920 --> 00:03:22,740 I do get a $10 a month fee for a business account. 87 00:03:22,740 --> 00:03:25,780 Unless I spend a thousand dollars or more, 88 00:03:25,780 --> 00:03:27,620 that fee gets waived for the month. 89 00:03:27,620 --> 00:03:30,660 But I live in a small town, so it's the small bank. 90 00:03:30,660 --> 00:03:33,400 I'm sure larger banks, they don't do that nonsense 91 00:03:33,400 --> 00:03:34,700 or they may have something similar. 92 00:03:34,700 --> 00:03:36,900 I don't know, I don't live in a bigger city 93 00:03:36,900 --> 00:03:39,380 to experiment with that, but that's just my experience. 94 00:03:39,380 --> 00:03:41,820 Well, and you can write off that 10 bucks, 20 bucks, 95 00:03:41,820 --> 00:03:43,160 whatever is a month. Exactly, it's a write off. 96 00:03:43,160 --> 00:03:45,820 It's a business account expense, 100%. 97 00:03:45,820 --> 00:03:47,820 So I mean, that's just less than taxes you're gonna pay. 98 00:03:47,820 --> 00:03:51,300 But I think that's good kind of to start out 99 00:03:51,300 --> 00:03:52,260 on the right track, right? 100 00:03:52,260 --> 00:03:53,820 Have everything separate from, 101 00:03:54,740 --> 00:03:56,740 maybe people are doing this part-time 102 00:03:56,740 --> 00:04:00,840 and they're like, you have your paycheck from your job. 103 00:04:00,840 --> 00:04:03,380 You wanna have that separate from your side hustle, 104 00:04:03,380 --> 00:04:05,340 especially with the new tax rules 105 00:04:05,340 --> 00:04:09,140 where if you make 600 bucks, you're gonna get a 10.99 106 00:04:09,140 --> 00:04:10,980 and you're gonna have to prove your expenses. 107 00:04:10,980 --> 00:04:14,260 So if you're reselling, you're gonna make $600 in a year, 108 00:04:14,260 --> 00:04:17,000 I promise you, no matter how lazy you are 109 00:04:17,000 --> 00:04:20,220 and how little you do, $600 can just be one item. 110 00:04:20,220 --> 00:04:21,820 You find that at thrift store and sell. 111 00:04:21,820 --> 00:04:24,100 I mean, that's just the way it works. 112 00:04:24,100 --> 00:04:26,140 So I think that's good to start out, right? 113 00:04:26,140 --> 00:04:27,380 You have a separate account, 114 00:04:27,380 --> 00:04:28,620 you kind of can work from there, 115 00:04:28,620 --> 00:04:31,820 but you start out on the right track with your expenses. 116 00:04:31,820 --> 00:04:36,820 And so yeah, so I mean, I guess that kind of leads us into, 117 00:04:37,420 --> 00:04:40,880 do you need money to start selling on eBay and Amazon? 118 00:04:40,880 --> 00:04:42,300 It's a loaded question by the way, 119 00:04:42,300 --> 00:04:44,060 because I have an answer. 120 00:04:44,060 --> 00:04:49,060 My answer would be no, you don't need to, 121 00:04:49,300 --> 00:04:51,560 but you could go faster, 122 00:04:51,560 --> 00:04:54,620 I guess would be my counter argument with some money, 123 00:04:54,620 --> 00:04:56,260 but you don't need it. 124 00:04:56,260 --> 00:04:58,180 You can still go to the library to use the computer 125 00:04:58,180 --> 00:05:00,140 and even take the public transportation, 126 00:05:00,140 --> 00:05:03,300 or no, walk, bicycle, there you go, you can do 100% free. 127 00:05:04,180 --> 00:05:06,380 Public library and a bicycle, there you go. 128 00:05:06,380 --> 00:05:09,540 So the thing I was gonna hit on was, 129 00:05:09,540 --> 00:05:11,060 you really don't need any money 130 00:05:11,060 --> 00:05:13,080 because you can sell all the stuff 131 00:05:13,080 --> 00:05:14,260 you got laying around your house 132 00:05:14,260 --> 00:05:16,020 that you don't use anymore, right? 133 00:05:16,020 --> 00:05:18,540 Or maybe you have three jackets 134 00:05:18,540 --> 00:05:21,520 and you don't need three coach jackets 135 00:05:21,520 --> 00:05:25,820 or North Face pullovers, sell two of them. 136 00:05:25,820 --> 00:05:29,620 So I think that's somewhere where more people 137 00:05:29,620 --> 00:05:30,440 need to start, right? 138 00:05:30,440 --> 00:05:32,740 Because we all have too much stuff at the end of the day, 139 00:05:32,740 --> 00:05:33,660 or I can admit to it, 140 00:05:33,660 --> 00:05:37,980 I got tubs full of collectibles sitting under the bed 141 00:05:37,980 --> 00:05:40,020 that if I had to start back from nothing, 142 00:05:40,020 --> 00:05:45,020 or if I ever hit rock bottom and I had to come up with rent, 143 00:05:45,260 --> 00:05:46,780 that's stuff you would sell, right? 144 00:05:46,780 --> 00:05:49,260 So it's not a necessity in life. 145 00:05:49,260 --> 00:05:52,260 So I would say, I agree, if you wanna go fast, 146 00:05:52,260 --> 00:05:54,460 you need capital, but if you wanna go smart 147 00:05:54,460 --> 00:05:57,180 and kinda see what you can turn nothing into, 148 00:05:57,180 --> 00:05:58,660 you don't need any money to start. 149 00:05:58,660 --> 00:06:00,460 You're gonna need that account, 150 00:06:00,460 --> 00:06:02,260 you're gonna list a few things, 151 00:06:02,260 --> 00:06:05,300 and you're just basically gonna keep turning that money, 152 00:06:05,300 --> 00:06:08,820 turn zero into whatever you sell your first item for, 153 00:06:08,820 --> 00:06:11,900 20 bucks, turn that 20 bucks into 40 bucks, 154 00:06:11,900 --> 00:06:13,060 and you just keep rolling it. 155 00:06:13,060 --> 00:06:15,180 So you don't need money, but if you have it, 156 00:06:15,180 --> 00:06:18,960 I mean, so give me a limitation here, right? 157 00:06:18,960 --> 00:06:21,420 So somebody that never resold in their life, 158 00:06:21,420 --> 00:06:23,980 like how much money, if you said, 159 00:06:23,980 --> 00:06:26,220 hey, you're gonna take me under your wing, 160 00:06:26,220 --> 00:06:27,940 how much, and you said, hey, Mike, 161 00:06:27,940 --> 00:06:28,820 you need to have a little money, 162 00:06:28,820 --> 00:06:30,660 I'll take you under my wing, 163 00:06:30,660 --> 00:06:32,260 we'll get you rocking and rolling on eBay. 164 00:06:32,260 --> 00:06:33,680 What do you think would be a good amount? 165 00:06:33,680 --> 00:06:36,540 If you just said, is this something you wanted to try 166 00:06:36,540 --> 00:06:38,500 and you had maybe side money, 167 00:06:38,500 --> 00:06:39,340 like how much would you, 168 00:06:39,340 --> 00:06:41,340 how much do you think you should start with? 169 00:06:41,340 --> 00:06:42,500 Well, I need to know what I'm dealing with. 170 00:06:42,500 --> 00:06:44,720 Am I dealing with a homeless person, a college kid, 171 00:06:44,720 --> 00:06:46,900 or somebody who has a day job? 172 00:06:46,900 --> 00:06:48,940 We'll say you're dealing with somebody 173 00:06:48,940 --> 00:06:53,420 that has never resold on eBay before. 174 00:06:53,420 --> 00:06:56,220 They understand how things work. 175 00:06:56,220 --> 00:06:58,580 They have a, we'll say they have a full-time job, 176 00:06:58,580 --> 00:07:00,520 because most people do this to try to figure out a way 177 00:07:00,520 --> 00:07:01,660 to get out of their job. 178 00:07:01,660 --> 00:07:04,020 So they have a full-time job, 179 00:07:04,020 --> 00:07:06,560 and maybe they just have some money sitting around, 180 00:07:06,560 --> 00:07:08,080 like how much you think they would need, 181 00:07:08,080 --> 00:07:09,300 and they're gonna sell everything, right? 182 00:07:09,300 --> 00:07:11,500 They're not niching down 183 00:07:11,500 --> 00:07:13,220 because they're just starting, right? 184 00:07:13,220 --> 00:07:15,340 So you're just looking to flip anything you can. 185 00:07:15,340 --> 00:07:17,900 We're not talking down anything specific, just, you know. 186 00:07:17,900 --> 00:07:18,740 Hey, I know. 187 00:07:18,740 --> 00:07:19,560 In that scenario, 188 00:07:19,560 --> 00:07:20,940 I would assume they'd have a couple of things already. 189 00:07:20,940 --> 00:07:22,940 They would probably have a cell phone, so. 190 00:07:22,940 --> 00:07:23,900 Yep, yep, yep. 191 00:07:23,900 --> 00:07:24,740 You got all the basics. 192 00:07:24,740 --> 00:07:26,860 People have a computer, they have the basics, right? 193 00:07:26,860 --> 00:07:29,260 I would say $250 or less. 194 00:07:29,260 --> 00:07:31,740 Maybe even, you could even do it probably with 100, 195 00:07:31,740 --> 00:07:34,620 but 250 would be a comfortable number, I would think. 196 00:07:34,620 --> 00:07:38,380 That's enough to, well, I don't have the boxes, 197 00:07:38,380 --> 00:07:42,100 and I don't know not to use the USPS free boxes, 198 00:07:42,100 --> 00:07:43,220 which is a whole other thing yet. 199 00:07:43,220 --> 00:07:44,620 So I'm gonna go buy some boxes, 200 00:07:44,620 --> 00:07:48,240 maybe some bubble wraps, some tape, maybe a scale. 201 00:07:50,660 --> 00:07:52,180 Printer, Rolo Printer. 202 00:07:52,180 --> 00:07:53,980 Well, they already have a computer, 203 00:07:53,980 --> 00:07:55,300 so I'm gonna assume they already have a printer, too. 204 00:07:55,300 --> 00:07:56,860 So they don't need a fancy Rolo Printer 205 00:07:56,860 --> 00:07:58,760 or a Dymo printer yet. 206 00:08:01,460 --> 00:08:03,200 I think that's good. 207 00:08:03,200 --> 00:08:05,540 250, I think that's kind of right where I was at. 208 00:08:05,540 --> 00:08:08,580 I made a video many, many, many, 209 00:08:08,580 --> 00:08:10,660 probably over a year ago on YouTube 210 00:08:10,660 --> 00:08:11,980 about how much money you needed 211 00:08:11,980 --> 00:08:13,460 to start selling books on Amazon. 212 00:08:13,460 --> 00:08:16,460 And I think I might even said 250, which is weird. 213 00:08:16,460 --> 00:08:18,740 I know it wasn't more than 250 214 00:08:18,740 --> 00:08:20,900 because you really don't need that much to start, right? 215 00:08:20,900 --> 00:08:22,460 I mean, you kind of can just- 216 00:08:22,460 --> 00:08:24,660 One more wrap, tape, and boxes, 217 00:08:24,660 --> 00:08:27,300 and then if you're gonna go buy something, money for that. 218 00:08:27,300 --> 00:08:28,780 But like in this scenario, 219 00:08:28,780 --> 00:08:31,900 we're dealing with stuff in our home already, right? 220 00:08:31,900 --> 00:08:33,300 So it's probably less than 250 221 00:08:33,300 --> 00:08:36,700 if you're doing stuff that's in at your house already. 222 00:08:36,700 --> 00:08:39,900 Probably 250 if you're gonna go out and source to start. 223 00:08:39,900 --> 00:08:43,140 Yeah, I think definitely 250 would be well, 224 00:08:43,140 --> 00:08:44,340 well over what you would need, 225 00:08:44,340 --> 00:08:46,580 even if you're going out to source. 226 00:08:46,580 --> 00:08:48,020 I mean- 227 00:08:48,020 --> 00:08:49,100 That's part of your gas tank 228 00:08:49,100 --> 00:08:50,540 to go over your going too, right? 229 00:08:50,540 --> 00:08:51,560 The 250? 230 00:08:51,560 --> 00:08:52,420 Yeah, that is true. 231 00:08:52,420 --> 00:08:54,940 So it's almost as if you have to take things 232 00:08:54,940 --> 00:08:56,860 into consideration when you're starting, right? 233 00:08:56,860 --> 00:08:59,460 So I think the biggest thing, 234 00:08:59,460 --> 00:09:00,820 another thing when you're getting started 235 00:09:00,820 --> 00:09:03,300 is it's gonna take time, right? 236 00:09:03,300 --> 00:09:05,980 You can't expect, I know everybody sees the videos 237 00:09:05,980 --> 00:09:10,240 are everywhere, TikTok, Instagram, YouTube. 238 00:09:10,240 --> 00:09:13,300 People basically, they walk into any store 239 00:09:13,300 --> 00:09:15,300 and they come out with a cart full of stuff 240 00:09:15,300 --> 00:09:17,020 and all of a sudden they're rich. 241 00:09:17,020 --> 00:09:20,060 So you have to realize it's different here. 242 00:09:20,060 --> 00:09:22,660 So a lot of the stuff you see is Amazon related. 243 00:09:22,660 --> 00:09:24,460 eBay is kind of a different beast, right? 244 00:09:24,460 --> 00:09:26,940 So just a little bit of diving into eBay. 245 00:09:26,940 --> 00:09:29,940 So everybody's, when you sign up for eBay, 246 00:09:29,940 --> 00:09:31,700 you have like stores, right? 247 00:09:31,700 --> 00:09:34,820 So you can sign up for different eBay stores. 248 00:09:34,820 --> 00:09:38,860 It's basically like, you know more about stores than I do. 249 00:09:38,860 --> 00:09:41,860 I personally don't have an eBay store on my account 250 00:09:41,860 --> 00:09:43,860 and I list one item every day 251 00:09:43,860 --> 00:09:45,680 and I don't have an eBay store. 252 00:09:45,680 --> 00:09:47,480 So somebody that was just starting out, 253 00:09:47,480 --> 00:09:49,660 like they see an eBay store and they're like, 254 00:09:49,660 --> 00:09:52,660 oh my God, I get all these free listings and that. 255 00:09:52,660 --> 00:09:54,120 Like, do you think that's an assess, 256 00:09:54,120 --> 00:09:54,960 give me your rundown here. 257 00:09:54,960 --> 00:09:55,800 You're already shaking your head 258 00:09:55,800 --> 00:09:57,180 like you don't need no eBay store. 259 00:09:57,180 --> 00:09:58,500 You don't need me. 260 00:09:58,500 --> 00:10:01,220 You need an eBay store when you got 80 or more items. 261 00:10:01,220 --> 00:10:02,500 And I would say once you're at 50, 262 00:10:02,500 --> 00:10:03,940 you can go ahead and pull the trigger on it. 263 00:10:03,940 --> 00:10:05,340 Cause odds are if you made it to 50, 264 00:10:05,340 --> 00:10:07,700 you're gonna make it to 80 pretty easily. 265 00:10:07,700 --> 00:10:11,340 But you gotta account for the subscription paying for itself 266 00:10:11,340 --> 00:10:14,020 to in those free listings they give you. 267 00:10:14,020 --> 00:10:17,540 So unless you got 80 exactly, it doesn't pay for itself. 268 00:10:17,540 --> 00:10:19,320 So you need at least 80. 269 00:10:19,320 --> 00:10:22,700 Like I said, if you've already done 50 listings, 270 00:10:22,700 --> 00:10:24,740 you're gonna make it to 80 listings. 271 00:10:24,740 --> 00:10:26,860 So I would just go ahead and pull the trigger at 50. 272 00:10:26,860 --> 00:10:29,540 And also 50 is an easier number to remember. 273 00:10:29,540 --> 00:10:32,260 So I have well over 50 listings. 274 00:10:32,260 --> 00:10:34,740 So I'm losing out by not having an eBay store. 275 00:10:34,740 --> 00:10:36,740 Is that what you're telling me? 276 00:10:36,740 --> 00:10:38,540 Yeah, cause when it autorelist, 277 00:10:38,540 --> 00:10:40,300 you're gonna get charged again. 278 00:10:40,300 --> 00:10:42,100 If you have autorelist on. 279 00:10:43,220 --> 00:10:44,640 I would assume I do. 280 00:10:44,640 --> 00:10:46,620 So, hey, listen, see, that's why I said 281 00:10:46,620 --> 00:10:48,100 he's the eBay expert, not me. 282 00:10:48,100 --> 00:10:52,140 So I should, I think the starter store is only 499, right? 283 00:10:52,140 --> 00:10:53,500 Yeah, yeah. 284 00:10:53,500 --> 00:10:55,660 I don't know how many items do you have? 285 00:10:55,660 --> 00:10:57,500 I don't know, tell me how many items you have. 286 00:10:57,500 --> 00:10:59,480 I only have, I think 170. 287 00:10:59,480 --> 00:11:01,860 I only have 170 items currently listed. 288 00:11:02,800 --> 00:11:05,720 Yeah, I would go ahead and pull the trigger on the, 289 00:11:05,720 --> 00:11:07,260 you could do the $5, 290 00:11:07,260 --> 00:11:10,500 but I don't know what your eBay plans are. 291 00:11:10,500 --> 00:11:13,460 You could go ahead at the number you said, the 180. 292 00:11:13,460 --> 00:11:16,660 You could theoretically go to the next tier up. 293 00:11:16,660 --> 00:11:19,340 And I would stay at that tier for a while. 294 00:11:19,340 --> 00:11:20,820 And when you start out on eBay, right? 295 00:11:20,820 --> 00:11:24,460 They kind of limit of how much you can sell in a month 296 00:11:24,460 --> 00:11:25,940 and how many items you can list 297 00:11:25,940 --> 00:11:27,740 because you're a new seller, correct? 298 00:11:27,740 --> 00:11:30,740 Right, I think it's 10, at least it was when I started. 299 00:11:30,740 --> 00:11:33,860 They, you get to 10, you gotta sell a couple of things 300 00:11:33,860 --> 00:11:35,480 and then you either gotta press the buttons 301 00:11:35,480 --> 00:11:37,000 to request more or call in. 302 00:11:37,000 --> 00:11:39,420 I always advise calling in 303 00:11:39,420 --> 00:11:41,080 because dealing with a human's a lot better 304 00:11:41,080 --> 00:11:42,340 than dealing with a robot. 305 00:11:42,340 --> 00:11:43,900 At least I think so. 306 00:11:43,900 --> 00:11:46,380 And eBay does have actual support 307 00:11:46,380 --> 00:11:49,740 where you can actually speak to another human being 308 00:11:49,740 --> 00:11:52,540 unlike maybe the other platform we're gonna talk about 309 00:11:52,540 --> 00:11:54,900 a little bit later, right? 310 00:11:54,900 --> 00:11:55,740 So yeah. 311 00:11:55,740 --> 00:11:56,580 Well, let me throw it back at you. 312 00:11:56,580 --> 00:12:01,500 How many listings on Amazon do you need 313 00:12:01,500 --> 00:12:04,500 before you get that Amazon store subscription? 314 00:12:05,780 --> 00:12:07,460 All right, so this is a good topic 315 00:12:07,460 --> 00:12:08,860 because I actually thought about this today 316 00:12:08,860 --> 00:12:09,700 before the call, right? 317 00:12:09,700 --> 00:12:10,620 So I always said like, 318 00:12:10,620 --> 00:12:12,620 you really don't need a pro account right away, right? 319 00:12:12,620 --> 00:12:14,860 Because you're not making those sales. 320 00:12:14,860 --> 00:12:18,420 But believe it or not, I had changed my opinion today 321 00:12:18,420 --> 00:12:21,860 after a little bit of soul searching and thinking about it 322 00:12:21,860 --> 00:12:24,820 is that you can't even be in the process 323 00:12:24,820 --> 00:12:26,900 of becoming buy box eligible 324 00:12:26,900 --> 00:12:29,260 until you have a professional account. 325 00:12:29,260 --> 00:12:31,500 Ooh, that's a game changer, okay. 326 00:12:31,500 --> 00:12:32,820 Yes. 327 00:12:32,820 --> 00:12:34,940 Nico the cat is here. 328 00:12:34,940 --> 00:12:35,780 Calls in trouble. 329 00:12:35,780 --> 00:12:37,900 Special guest star, there we go. 330 00:12:37,900 --> 00:12:39,340 It's getting close to their feet in time, 331 00:12:39,340 --> 00:12:40,220 so they're swarming. 332 00:12:40,220 --> 00:12:41,820 But yeah, so that kind of- 333 00:12:41,820 --> 00:12:42,780 That's a perfect point. 334 00:12:42,780 --> 00:12:45,380 Like if my goal is to be buy box eligible, 335 00:12:45,380 --> 00:12:46,820 let's just get it going, right? 336 00:12:46,820 --> 00:12:47,660 Okay. 337 00:12:47,660 --> 00:12:48,480 Yeah, yeah. 338 00:12:48,480 --> 00:12:50,940 So with eBay, you're gonna need your basic supplies. 339 00:12:50,940 --> 00:12:52,820 Like you said, your tape, your boxes, 340 00:12:52,820 --> 00:12:55,380 your poly bags, stuff like that. 341 00:12:55,380 --> 00:12:56,980 So the cost is really minimal, right? 342 00:12:56,980 --> 00:12:59,060 And a lot of people even go to stores 343 00:12:59,060 --> 00:13:01,540 and get boxes for free. 344 00:13:01,540 --> 00:13:03,740 And there's different ways you can be cheap starting out. 345 00:13:03,740 --> 00:13:06,420 That'll change as you grow your business. 346 00:13:06,420 --> 00:13:10,020 But the entry to eBay is, 347 00:13:10,020 --> 00:13:11,580 there really is no entry, right? 348 00:13:11,580 --> 00:13:13,060 You can sign up today. 349 00:13:13,060 --> 00:13:15,540 We can go create a new account today. 350 00:13:15,540 --> 00:13:17,540 You know, you wanna fill out your basic stuff. 351 00:13:17,540 --> 00:13:19,180 You wanna have a picture, you know. 352 00:13:19,180 --> 00:13:22,180 eBay is heavily driven by feedback from, you know, 353 00:13:22,180 --> 00:13:25,020 purchases you make and sales you make. 354 00:13:25,020 --> 00:13:27,420 So that has a lot to do with the account. 355 00:13:27,420 --> 00:13:28,620 It also does on Amazon, 356 00:13:28,620 --> 00:13:30,820 but eBay, you know, it's more frequent, right? 357 00:13:30,820 --> 00:13:33,660 eBay is pushing this feedback every single transaction. 358 00:13:33,660 --> 00:13:35,460 So you wanna make sure starting out 359 00:13:35,460 --> 00:13:37,020 that you're doing things the right way, right? 360 00:13:37,020 --> 00:13:38,940 You wanna pack something, you know, 361 00:13:38,940 --> 00:13:41,540 the way you would expect to receive a package, right? 362 00:13:41,540 --> 00:13:44,540 We're not packing stuff in frosted flake boxes 363 00:13:44,540 --> 00:13:47,180 or, you know, Quaker Oat tins or anything like that. 364 00:13:47,180 --> 00:13:49,780 You know, we wanna have at least some kind of, you know, 365 00:13:49,780 --> 00:13:50,740 usable packaging. 366 00:13:50,740 --> 00:13:53,380 I'm not saying everything has to be new. 367 00:13:53,380 --> 00:13:55,700 Personally, I use a lot of my Amazon boxes 368 00:13:55,700 --> 00:13:57,580 that I get from returns 369 00:13:57,580 --> 00:13:59,940 to pack up books and everything like that for eBay. 370 00:13:59,940 --> 00:14:01,260 So I do reuse supplies. 371 00:14:01,260 --> 00:14:03,100 And I know it's kind of like, I don't know, 372 00:14:03,100 --> 00:14:04,580 reusing supplies now is like, 373 00:14:04,580 --> 00:14:06,460 it's like a touchy subject, right? 374 00:14:06,460 --> 00:14:09,300 So like, you're shaking your head, yeah? 375 00:14:09,300 --> 00:14:10,660 You're shaking your head like, what do you mean? 376 00:14:10,660 --> 00:14:11,500 Yeah, it's- 377 00:14:11,500 --> 00:14:13,260 Captain Planet, recycle, man. 378 00:14:13,260 --> 00:14:16,300 I agree, but it's become like one of those things 379 00:14:16,300 --> 00:14:20,140 like where people almost expect like a new, you know, 380 00:14:20,140 --> 00:14:22,100 they're used item in a new box, right? 381 00:14:22,100 --> 00:14:25,100 Cause most of the stuff you sell on eBay is gonna be used. 382 00:14:25,100 --> 00:14:26,940 So, and that's another thing, right? 383 00:14:26,940 --> 00:14:30,260 With eBay, you know, I'd be curious to see how much, 384 00:14:30,260 --> 00:14:32,340 maybe you know, maybe you have a roundabout. 385 00:14:32,340 --> 00:14:34,260 What percentage of items sold on eBay 386 00:14:34,260 --> 00:14:36,740 are actually used versus new? 387 00:14:38,260 --> 00:14:42,340 Ooh, I would say a vast majority are used. 388 00:14:42,340 --> 00:14:44,780 I mean, it would have been different years ago 389 00:14:44,780 --> 00:14:46,780 when the store chains didn't come into eBay 390 00:14:46,780 --> 00:14:49,300 cause there are legit store chains like Nike and Reebok, 391 00:14:49,300 --> 00:14:50,580 they got an eBay account. 392 00:14:51,980 --> 00:14:56,060 But I would say today it's still primarily used items. 393 00:14:56,060 --> 00:15:01,060 But even before then, like 80% used items, to be honest. 394 00:15:02,100 --> 00:15:04,060 So we were talking about, you know, 395 00:15:04,060 --> 00:15:06,260 kind of niching down and kind of figuring out 396 00:15:06,260 --> 00:15:08,340 what works best for you, you know. 397 00:15:08,340 --> 00:15:11,620 I'm heavily into books, you're the same way with the media. 398 00:15:11,620 --> 00:15:14,500 But starting out, I don't think it's as important. 399 00:15:14,500 --> 00:15:16,620 And I almost would, you know, 400 00:15:16,620 --> 00:15:20,300 kind of be against being so super niche down starting out 401 00:15:20,300 --> 00:15:24,020 because it kind of takes a lot of the excitement out 402 00:15:24,020 --> 00:15:26,420 of starting a reselling business, right? 403 00:15:26,420 --> 00:15:30,180 So when we, you know, when I walk into a thrift store, 404 00:15:30,180 --> 00:15:31,540 I'm looking for media, right? 405 00:15:31,540 --> 00:15:32,940 And you know, everything else is kind of, 406 00:15:32,940 --> 00:15:34,100 my blinders are on. 407 00:15:34,100 --> 00:15:35,620 I don't even care if there's, you know, 408 00:15:35,620 --> 00:15:39,020 a pair of Nike sneaks sitting over there or anything. 409 00:15:39,020 --> 00:15:40,780 Well, what's in the glass counter? 410 00:15:40,780 --> 00:15:41,740 Yeah, yeah, yeah. 411 00:15:41,740 --> 00:15:45,860 So like, I think starting out not being niche down is good. 412 00:15:45,860 --> 00:15:47,780 Like, yeah, there's a certain point, right? 413 00:15:47,780 --> 00:15:50,500 Where you have to niche down because it becomes too much. 414 00:15:50,500 --> 00:15:53,220 But I think starting out, just kind of, you know, 415 00:15:53,220 --> 00:15:55,980 seeing what you can flip for a dollar is the way to go 416 00:15:55,980 --> 00:15:58,060 because that's where all the excitement is. 417 00:15:58,060 --> 00:15:59,940 That's why people even want to start doing this 418 00:15:59,940 --> 00:16:02,140 because just the thought of walking in, you know, 419 00:16:02,140 --> 00:16:04,980 finding a vintage shirt for, you know, three bucks 420 00:16:04,980 --> 00:16:07,980 and selling it for 150, like that's a thrill of the game, 421 00:16:07,980 --> 00:16:08,820 right? 422 00:16:08,820 --> 00:16:10,740 And kind of when you're looking for everything, 423 00:16:10,740 --> 00:16:13,220 that's how you find your niche, right? 424 00:16:13,220 --> 00:16:14,060 That's kind of like- 425 00:16:14,060 --> 00:16:14,900 That's what I was gonna say. 426 00:16:14,900 --> 00:16:16,900 The second bullet point is you don't know 427 00:16:16,900 --> 00:16:18,180 what you like yet. 428 00:16:18,180 --> 00:16:19,020 Yeah. 429 00:16:19,020 --> 00:16:21,100 I didn't know I would be gung ho about books. 430 00:16:21,100 --> 00:16:22,300 Books are heavy, by the way. 431 00:16:22,300 --> 00:16:25,100 But I like listing books a heck of a lot better 432 00:16:25,100 --> 00:16:26,460 than I do like listing clothing. 433 00:16:26,460 --> 00:16:27,740 I can tell you that. 434 00:16:27,740 --> 00:16:28,580 Oh yeah. 435 00:16:28,580 --> 00:16:31,700 And I guess the biggest appeal to me, right? 436 00:16:31,700 --> 00:16:33,780 This is gonna make me sound so greedy, 437 00:16:33,780 --> 00:16:37,420 is that I like books because the ROI 438 00:16:37,420 --> 00:16:39,020 is just through the roof, right? 439 00:16:39,020 --> 00:16:42,460 I mean, we can make so many mistakes even buying stuff. 440 00:16:42,460 --> 00:16:43,940 Like I could go out for a whole month 441 00:16:43,940 --> 00:16:45,780 and buy stuff that won't sell. 442 00:16:45,780 --> 00:16:48,300 And it will not really affect my bottom line 443 00:16:48,300 --> 00:16:49,420 at the end of the day. 444 00:16:49,420 --> 00:16:51,540 You know, maybe it'll be 400, 500 bucks 445 00:16:51,540 --> 00:16:54,260 versus if we were doing, if we were in a different niche, 446 00:16:54,260 --> 00:16:56,820 you know, it could be, you know, $5,000. 447 00:16:56,820 --> 00:16:58,420 So I think that's good, right? 448 00:16:58,420 --> 00:17:00,620 You got, you don't even know what you like doing, right? 449 00:17:00,620 --> 00:17:02,820 You know, or, you know, what interests you 450 00:17:02,820 --> 00:17:03,660 in the selling world. 451 00:17:03,660 --> 00:17:05,540 It's not necessarily what you like. 452 00:17:05,540 --> 00:17:07,700 It's like, what interests you, right? 453 00:17:07,700 --> 00:17:08,780 I'm not a big reader. 454 00:17:08,780 --> 00:17:12,820 I sell, you know, thousands and thousands of books a year 455 00:17:12,820 --> 00:17:14,980 and I maybe read five books a year, right? 456 00:17:14,980 --> 00:17:17,700 So it's not that books interest me. 457 00:17:17,700 --> 00:17:21,060 I just think the model is best and the easiest 458 00:17:21,060 --> 00:17:23,660 for what I'm trying to basically achieve, right? 459 00:17:23,660 --> 00:17:24,740 But it's different for everybody. 460 00:17:24,740 --> 00:17:28,620 Like if I was super into like vintage clothes and sneaks, 461 00:17:28,620 --> 00:17:31,580 like I would 100%, you know, maybe go that route 462 00:17:31,580 --> 00:17:33,980 because it's something that you're gonna be more motivated 463 00:17:33,980 --> 00:17:35,620 to do it because you're out finding stuff. 464 00:17:35,620 --> 00:17:36,900 You're like, oh, this is dope, right? 465 00:17:36,900 --> 00:17:38,740 Like, oh, this is something I would wear. 466 00:17:38,740 --> 00:17:40,860 Like, oh, I might keep this one for myself 467 00:17:40,860 --> 00:17:42,860 because that's really it, you know? 468 00:17:42,860 --> 00:17:44,860 Like I rarely find a book where I'm like, 469 00:17:44,860 --> 00:17:46,540 well, I'm gonna keep it for myself. 470 00:17:46,540 --> 00:17:48,780 It's like one in a million and I scan 471 00:17:48,780 --> 00:17:50,380 to thousands of them every month. 472 00:17:50,380 --> 00:17:54,820 So I think niching down is like kind of not really a focus 473 00:17:54,820 --> 00:17:56,540 when you first start out. 474 00:17:56,540 --> 00:17:58,660 I'll tell you what I really enjoy about books. 475 00:17:58,660 --> 00:18:01,180 This is gonna make me sound super, super creepy 476 00:18:01,180 --> 00:18:03,900 and we're never gonna get any subscribers again. 477 00:18:03,900 --> 00:18:08,660 But I love reading the notes that people stick in there 478 00:18:08,660 --> 00:18:11,340 or what they write in inside the inside cover, 479 00:18:11,340 --> 00:18:12,780 the dedications and stuff. 480 00:18:12,780 --> 00:18:15,020 Cause I guarantee you, especially if I get it 481 00:18:15,020 --> 00:18:18,100 from a state sale, odds are that person has passed on. 482 00:18:18,100 --> 00:18:20,500 Besides me and the mortician, I'm the last person 483 00:18:20,500 --> 00:18:24,020 to get any idea of what kind of person this was. 484 00:18:24,020 --> 00:18:26,900 And I don't know, I feel kind of honored or privileged 485 00:18:26,900 --> 00:18:29,380 when I get to have those small little moments, 486 00:18:29,380 --> 00:18:31,820 especially if it's something long and written, 487 00:18:31,820 --> 00:18:34,580 like it costs me five bucks, but this is so interesting. 488 00:18:34,580 --> 00:18:35,860 Whatever. 489 00:18:35,860 --> 00:18:38,060 But no, I do like that aspect of it. 490 00:18:38,060 --> 00:18:39,860 I mean, it's not every time I see that stuff, 491 00:18:39,860 --> 00:18:41,980 but every once in a while I'm like, okay, 492 00:18:41,980 --> 00:18:42,820 this is why I do it. 493 00:18:42,820 --> 00:18:43,980 There's a little bit of why I do it. 494 00:18:43,980 --> 00:18:46,140 I mean, this is like a perfect segue, right? 495 00:18:46,140 --> 00:18:48,140 People are gonna think this is like stage now, right? 496 00:18:48,140 --> 00:18:51,860 Because on that topic, I was out this week 497 00:18:51,860 --> 00:18:56,580 and I seen a narcotics anonymous book, right? 498 00:18:56,580 --> 00:18:59,020 It's kind of like the alcoholic anonymous books. 499 00:18:59,020 --> 00:19:02,660 Some of the older editions can go for lots and lots of money. 500 00:19:03,700 --> 00:19:06,340 But I opened it up and guess what? 501 00:19:06,340 --> 00:19:08,540 It was to some guy named Mike. 502 00:19:08,540 --> 00:19:09,980 So the whole little paragraph said, 503 00:19:09,980 --> 00:19:12,420 hey, Mike, I hope you're doing good. 504 00:19:12,420 --> 00:19:14,820 I hope you can stay clean and everything like that. 505 00:19:14,820 --> 00:19:16,580 So that's so weird. 506 00:19:16,580 --> 00:19:17,740 That's like one of your things. 507 00:19:17,740 --> 00:19:20,380 And when I read it, I'm like, man, maybe this is me 508 00:19:20,380 --> 00:19:23,060 in an alternate Marvel dimension. 509 00:19:23,060 --> 00:19:24,180 I have those thoughts too. 510 00:19:24,180 --> 00:19:25,140 This could have been me. 511 00:19:25,140 --> 00:19:27,220 Yeah, yeah, yeah, I get you, I get you. 512 00:19:27,220 --> 00:19:28,060 So anyway. 513 00:19:28,060 --> 00:19:28,900 I thought I was the only one. 514 00:19:28,900 --> 00:19:30,540 I've never said anything about it before. 515 00:19:30,540 --> 00:19:31,780 We're way off the rails, right? 516 00:19:31,780 --> 00:19:35,460 So back to start on eBay, 250 bucks if you have it. 517 00:19:35,460 --> 00:19:38,300 If not, maybe you have an extra iPad laying around, 518 00:19:38,300 --> 00:19:40,300 sell that, take that 200 bucks 519 00:19:40,300 --> 00:19:42,140 and kind of just start from there, right? 520 00:19:42,140 --> 00:19:43,140 You don't have to go crazy. 521 00:19:43,140 --> 00:19:44,380 You don't need to go to a thrift store 522 00:19:44,380 --> 00:19:46,540 and spend hundreds of dollars. 523 00:19:47,500 --> 00:19:49,700 Give us some newbie tips for eBay, right? 524 00:19:49,700 --> 00:19:52,100 I'm going to the thrift store for the first time. 525 00:19:52,100 --> 00:19:54,180 Give me like maybe your three best tips 526 00:19:54,180 --> 00:19:56,060 and maybe if you don't choose mine, 527 00:19:56,060 --> 00:19:57,420 I'll drop a few in there. 528 00:19:57,420 --> 00:19:58,260 What's my goal here? 529 00:19:58,260 --> 00:19:59,620 To make money or what? 530 00:19:59,620 --> 00:20:01,060 Make my life easy or what? 531 00:20:01,060 --> 00:20:03,260 Oh, eBay money. 532 00:20:03,260 --> 00:20:05,860 eBay, see look, this guy's making eBay sales 533 00:20:05,860 --> 00:20:07,460 as we're talking about eBay. 534 00:20:07,460 --> 00:20:10,140 I mean, yet again, they're going to think this is scripted. 535 00:20:10,140 --> 00:20:12,380 Like he's got a button over there he's hitting. 536 00:20:12,380 --> 00:20:13,940 And there's a little soundboard. 537 00:20:13,940 --> 00:20:17,140 So basically this is somebody brand new to resell 538 00:20:17,140 --> 00:20:18,780 and they want to make money 539 00:20:18,780 --> 00:20:22,220 and they're preparing to go out for their first time 540 00:20:22,220 --> 00:20:23,820 to sell stuff on eBay. 541 00:20:23,820 --> 00:20:25,860 But what are your three tips? 542 00:20:25,860 --> 00:20:27,620 What are your three tips? 543 00:20:27,620 --> 00:20:32,540 My three tips would be walk around the entirety 544 00:20:32,540 --> 00:20:34,500 of wherever you're going 545 00:20:34,500 --> 00:20:36,660 so you can see what you're interested in 546 00:20:36,660 --> 00:20:38,860 just as a for a visual thing. 547 00:20:38,860 --> 00:20:41,780 And then after you've done that, go back and grab, 548 00:20:42,740 --> 00:20:44,940 you put everything you're interested in into a cart. 549 00:20:44,940 --> 00:20:46,900 So you can walk around with your cart, 550 00:20:46,900 --> 00:20:48,500 put everything you're interested in a cart 551 00:20:48,500 --> 00:20:50,580 and then pull it over to the side. 552 00:20:50,580 --> 00:20:53,220 With your phone, you have the technology 553 00:20:53,220 --> 00:20:56,460 before you buy a single thing, look it up. 554 00:20:56,460 --> 00:20:58,300 You may think it's valuable, 555 00:20:58,300 --> 00:20:59,940 but I could tell you when I first started, 556 00:20:59,940 --> 00:21:02,340 I was wrong way more than I'm right. 557 00:21:02,340 --> 00:21:03,900 Now that I'm a little bit more seasoned, 558 00:21:03,900 --> 00:21:06,100 I'm more right than I am wrong. 559 00:21:08,180 --> 00:21:10,340 Often than not, but I'm still wrong occasionally. 560 00:21:10,340 --> 00:21:11,980 I am. 561 00:21:11,980 --> 00:21:13,100 I'm not perfect. 562 00:21:13,100 --> 00:21:16,140 And then I would say, look for what's, 563 00:21:17,300 --> 00:21:20,180 go back around and look for what's sealed. 564 00:21:20,180 --> 00:21:25,180 Still in plastic shrink wrap would be a second point. 565 00:21:25,780 --> 00:21:28,420 If just make a second pass off that first one, 566 00:21:28,420 --> 00:21:29,740 so you might've missed it, be fair. 567 00:21:29,740 --> 00:21:30,820 They might've brought something out 568 00:21:30,820 --> 00:21:33,620 while you were on the other side of the store. 569 00:21:33,620 --> 00:21:38,620 And my last one, so lap around, pick up what you're interested 570 00:21:38,740 --> 00:21:40,700 in, lap around, pick up what was sealed 571 00:21:40,700 --> 00:21:41,940 or look kind of new-ish. 572 00:21:41,940 --> 00:21:45,860 And then third one is go find the manager 573 00:21:45,860 --> 00:21:48,980 and say, hey, I got a cart full of stuff. 574 00:21:48,980 --> 00:21:50,220 Give me a little bit of a discount. 575 00:21:50,220 --> 00:21:52,140 Save yourself some money off that 250 576 00:21:52,140 --> 00:21:53,620 you came in the store with. 577 00:21:53,620 --> 00:21:55,300 So those would be my three tips. 578 00:21:55,300 --> 00:21:59,020 And 100% with that last one, relationships go a long way. 579 00:21:59,020 --> 00:22:02,740 So listen, you go into a Goodwill or Salvation Army, 580 00:22:02,740 --> 00:22:07,740 the manager route isn't gonna work 98% of the time, right? 581 00:22:07,820 --> 00:22:10,860 But you go into a smaller mom and pop thrift stores 582 00:22:10,860 --> 00:22:14,820 where starting out, find a local thrift store, right? 583 00:22:14,820 --> 00:22:17,060 You don't wanna be going and paying up at the Goodwill 584 00:22:17,060 --> 00:22:18,820 when you can go to a local thrift store 585 00:22:18,820 --> 00:22:21,340 where they have clothes for a dollar a piece. 586 00:22:21,340 --> 00:22:24,580 I go to them all the time, every week I go to a different one 587 00:22:24,580 --> 00:22:26,060 and their prices can't be beat 588 00:22:26,060 --> 00:22:29,100 and the quality of stuff is just better. 589 00:22:29,100 --> 00:22:31,780 But that's definitely, have that relationship. 590 00:22:31,780 --> 00:22:33,740 Yeah, this is your first time out there, 591 00:22:33,740 --> 00:22:35,860 but if this is something you continue with, 592 00:22:35,860 --> 00:22:37,460 imagine if you have that relationship, 593 00:22:37,460 --> 00:22:40,660 like, hey, you're the vintage tea person, 594 00:22:40,660 --> 00:22:42,500 you're the sneaker girl. 595 00:22:42,500 --> 00:22:44,300 And now when they get sneakers in, 596 00:22:44,300 --> 00:22:47,860 they know, hey, let me call, let me text or call you 597 00:22:47,860 --> 00:22:50,020 and let you know we have sneakers in 598 00:22:50,020 --> 00:22:52,980 and we'll let you take a look at them before they get out. 599 00:22:52,980 --> 00:22:54,980 Do not get mad at them when they say no, 600 00:22:54,980 --> 00:22:56,420 you may not have a discount. 601 00:22:56,420 --> 00:22:58,620 Because they may say no, like Mike was saying, 602 00:22:58,620 --> 00:23:00,980 nine out of 10 times, but time number 10, 603 00:23:00,980 --> 00:23:04,900 they cut you a deal and you're gonna be better for it. 604 00:23:04,900 --> 00:23:06,740 Oh yeah, and in my personal experience, 605 00:23:06,740 --> 00:23:11,140 I've asked for backroom access multiple times 606 00:23:11,140 --> 00:23:12,780 and I have none. 607 00:23:12,780 --> 00:23:15,580 I have zero, I got zero backrooms that I can attest to, 608 00:23:15,580 --> 00:23:19,020 but people on the weekly Zoom calls and in the Discord, 609 00:23:19,020 --> 00:23:22,780 they have basically a whole district of thrift stores 610 00:23:22,780 --> 00:23:24,260 that they have backroom access to, 611 00:23:24,260 --> 00:23:26,420 they can walk in and say, hey, I'm here 612 00:23:26,420 --> 00:23:27,700 and you go right into the backroom 613 00:23:27,700 --> 00:23:29,740 and you get the stuff before it even hits the floor. 614 00:23:29,740 --> 00:23:33,100 So relationship building right from the beginning is, 615 00:23:33,100 --> 00:23:36,500 that's probably one of the bigger ones. 616 00:23:36,500 --> 00:23:39,340 And I like the idea of walking around the whole store, 617 00:23:39,340 --> 00:23:42,420 you don't wanna kinda just narrow yourself down. 618 00:23:42,420 --> 00:23:43,260 Sure, right? 619 00:23:43,260 --> 00:23:47,340 If I go in and I'm brand new, just being a guy, 620 00:23:47,340 --> 00:23:49,260 I'm really not interested in going to look 621 00:23:49,260 --> 00:23:53,020 at the women's skirts, but maybe I go down that aisle 622 00:23:53,020 --> 00:23:57,060 and say, hey, I know Coach, Lululemon 623 00:23:57,060 --> 00:23:58,700 and some bigger brands. 624 00:23:58,700 --> 00:23:59,540 So you know if you see that tag. 625 00:23:59,540 --> 00:24:01,420 Louis Vuitton, look at that. 626 00:24:01,420 --> 00:24:03,140 Exactly, so we all kinda know 627 00:24:03,140 --> 00:24:04,980 what the bigger hit brands are, right? 628 00:24:04,980 --> 00:24:07,900 So you don't have to necessarily be a woman 629 00:24:07,900 --> 00:24:11,980 to look at skirts and flip women's shoes 630 00:24:11,980 --> 00:24:13,780 or anything like that and vice versa, right? 631 00:24:13,780 --> 00:24:18,140 You don't gotta be a man to know different things 632 00:24:18,140 --> 00:24:21,220 like basketball sneakers for men or something like that. 633 00:24:21,220 --> 00:24:23,460 So I think that's a good point. 634 00:24:23,460 --> 00:24:25,900 And I think the one thing you hit on is, 635 00:24:25,900 --> 00:24:27,860 download the eBay app on your phone. 636 00:24:27,860 --> 00:24:29,380 It's a necessity, right? 637 00:24:29,380 --> 00:24:31,500 I mean, the second you decide you're doing this, 638 00:24:31,500 --> 00:24:33,480 download the eBay app, it's free. 639 00:24:34,420 --> 00:24:35,240 And when you're looking- 640 00:24:35,240 --> 00:24:37,900 The number one tool, it's a computer in your pocket. 641 00:24:37,900 --> 00:24:38,740 Use it. 642 00:24:38,740 --> 00:24:40,660 So like one of the biggest pet peeves, right, 643 00:24:40,660 --> 00:24:43,380 is when people are at garage sale and they say, 644 00:24:43,380 --> 00:24:47,500 hey, Johnny, you want this for $5, 645 00:24:47,500 --> 00:24:51,180 but I've seen on eBay, somebody's selling it for $300. 646 00:24:51,180 --> 00:24:53,820 So you combat that by, 647 00:24:53,820 --> 00:24:57,580 anybody can price anything for any price on eBay, right? 648 00:24:57,580 --> 00:24:59,580 We could be selling the same thing, me and you. 649 00:24:59,580 --> 00:25:02,580 I'm priced at 10, you're priced at 10,000. 650 00:25:02,580 --> 00:25:03,900 So people- 651 00:25:03,900 --> 00:25:04,840 I sell it every day. 652 00:25:04,840 --> 00:25:07,360 Exactly, so when people, when you hear that, 653 00:25:07,360 --> 00:25:10,500 people aren't looking at the sold listings, right? 654 00:25:10,500 --> 00:25:13,860 The sold listings is the most important thing 655 00:25:13,860 --> 00:25:15,260 when you got a cart full of stuff 656 00:25:15,260 --> 00:25:17,820 that you're looking up before you buy it, in my opinion, 657 00:25:17,820 --> 00:25:20,160 because you want to make sure the stuff is selling. 658 00:25:20,160 --> 00:25:22,460 We're not going to buy stuff that has no sold comps 659 00:25:22,460 --> 00:25:25,380 and 50 of them are listed. 660 00:25:25,380 --> 00:25:27,060 If there's more than two or three listed 661 00:25:27,060 --> 00:25:29,060 and there's no sold comps, 662 00:25:29,060 --> 00:25:30,780 personally for me, I'm not touching it. 663 00:25:30,780 --> 00:25:31,940 With media, it's a little different 664 00:25:31,940 --> 00:25:33,540 because there's a lot of long tail items 665 00:25:33,540 --> 00:25:34,820 that will take time. 666 00:25:34,820 --> 00:25:35,940 But if you're just starting out, 667 00:25:35,940 --> 00:25:37,820 you want to be turning your money a little bit quicker. 668 00:25:37,820 --> 00:25:39,360 So you want to be looking for stuff 669 00:25:39,360 --> 00:25:41,480 that actually has a sell through on it. 670 00:25:41,480 --> 00:25:43,860 And find out that ratio that works best for you. 671 00:25:43,860 --> 00:25:45,220 Go ahead, you look like you got something. 672 00:25:45,220 --> 00:25:46,700 I'm going to pick on you a little bit. 673 00:25:46,700 --> 00:25:48,860 Let's say you were a new reseller 674 00:25:48,860 --> 00:25:53,020 and somebody offered you a box full of 50 books. 675 00:25:53,020 --> 00:25:54,700 They're all by Nora Roberts. 676 00:25:54,700 --> 00:25:57,060 You did not know about Nora Roberts yet. 677 00:25:57,060 --> 00:25:57,940 What'd you buy it? 678 00:26:00,900 --> 00:26:02,160 It depends on the price. 679 00:26:03,140 --> 00:26:05,900 $50, 50 books written by Nora Roberts. 680 00:26:05,900 --> 00:26:08,100 Do I get to look it up on eBay? 681 00:26:08,100 --> 00:26:09,540 No, you don't. 682 00:26:09,540 --> 00:26:10,580 I would. 683 00:26:10,580 --> 00:26:11,420 You would buy it? 684 00:26:11,420 --> 00:26:12,240 Okay. 685 00:26:12,240 --> 00:26:13,080 I probably would. 686 00:26:13,080 --> 00:26:15,460 My point being is me and Mike now know 687 00:26:15,460 --> 00:26:18,640 if we had took the time to look it up, not to buy it. 688 00:26:18,640 --> 00:26:20,740 Yeah, but starting out, you would think, 689 00:26:20,740 --> 00:26:22,100 what's the worst that can happen here, right? 690 00:26:22,100 --> 00:26:23,020 You got 50- Yeah, it's a deal. 691 00:26:23,020 --> 00:26:24,880 50 books, $50? 692 00:26:24,880 --> 00:26:26,100 Same author, right? 693 00:26:26,100 --> 00:26:29,420 So where it comes to worst, maybe it's a set. 694 00:26:29,420 --> 00:26:30,980 Maybe we can light them up. 695 00:26:30,980 --> 00:26:34,700 But in actuality, Nora Roberts ain't worth its weight 696 00:26:34,700 --> 00:26:36,120 in aluminum foil. 697 00:26:36,120 --> 00:26:38,340 So it's definitely- 698 00:26:38,340 --> 00:26:40,020 Yeah, with the technology, 699 00:26:40,020 --> 00:26:42,940 I would then know to pass if I was new. 700 00:26:42,940 --> 00:26:45,260 But knowing what I know now, I would avoid it like the play. 701 00:26:45,260 --> 00:26:47,040 No offense, Nora Roberts, if you're watching this, 702 00:26:47,040 --> 00:26:47,900 please subscribe. 703 00:26:47,900 --> 00:26:51,180 And with the eBay app, you can scan barcodes, right? 704 00:26:51,180 --> 00:26:53,880 So Johnny was talking about grabbing everything that's new. 705 00:26:53,880 --> 00:26:55,380 You can filter by condition. 706 00:26:55,380 --> 00:26:57,100 They've kind of, it's foolproof, right? 707 00:26:57,100 --> 00:26:59,120 You can go in and search for anything, 708 00:26:59,120 --> 00:27:01,780 cheapest price, end-in-soonest. 709 00:27:01,780 --> 00:27:04,160 Personally, I'm not a big fan of auctions on eBay, 710 00:27:04,160 --> 00:27:05,460 but that's a little bit more in depth 711 00:27:05,460 --> 00:27:06,740 because you're just starting out, right? 712 00:27:06,740 --> 00:27:08,180 So you're just looking for the basics here. 713 00:27:08,180 --> 00:27:10,780 But you wanna look everything up before you buy. 714 00:27:10,780 --> 00:27:12,060 You're not buying your cart of stuff 715 00:27:12,060 --> 00:27:14,700 and then looking it up while you're, 716 00:27:14,700 --> 00:27:16,540 three days from now when you decide to list it. 717 00:27:16,540 --> 00:27:18,960 You wanna make sure what you're buying is gonna sell 718 00:27:18,960 --> 00:27:20,580 and you're gonna make money on it, 719 00:27:20,580 --> 00:27:23,320 which brings you into the next thing of, 720 00:27:23,320 --> 00:27:25,580 so what's the baseline for fees, right? 721 00:27:25,580 --> 00:27:27,540 Give me a roundabout of how much you're gonna, 722 00:27:27,540 --> 00:27:29,500 a percentage for fees you're gonna pay on eBay 723 00:27:29,500 --> 00:27:30,320 with any sale. 724 00:27:30,320 --> 00:27:31,400 What is it, like 13? 725 00:27:31,400 --> 00:27:34,720 As far, no, no, it's much higher than that now. 726 00:27:34,720 --> 00:27:38,320 It's 14 and change percent. 727 00:27:38,320 --> 00:27:40,240 And that's if you don't promote it. 728 00:27:41,360 --> 00:27:43,160 So add in whatever percent there. 729 00:27:43,160 --> 00:27:45,000 I say you're gonna take home about half, 730 00:27:45,000 --> 00:27:48,240 maybe 60% of what you're gonna sell it for. 731 00:27:48,240 --> 00:27:49,080 So there you go. 732 00:27:49,080 --> 00:27:51,180 So that's kind of a good reference point 733 00:27:51,180 --> 00:27:54,100 because different things you find, you know, 734 00:27:54,100 --> 00:27:56,540 and different price points, the more expensive stuff, 735 00:27:56,540 --> 00:27:57,840 you know, if you're gonna spend 50, 736 00:27:57,840 --> 00:27:59,420 you wanna probably make at least, 737 00:27:59,420 --> 00:28:02,880 I would probably say minimum $25 on it. 738 00:28:02,880 --> 00:28:06,080 For me, I can be, I'm a lot more greedy with ROI 739 00:28:06,080 --> 00:28:07,960 because I sell media and it's a lot higher, 740 00:28:07,960 --> 00:28:11,520 but you know, I understand people that pay for, 741 00:28:11,520 --> 00:28:14,640 you know, more desirable higher price items 742 00:28:14,640 --> 00:28:15,960 and the ROI is a lot less, 743 00:28:15,960 --> 00:28:17,440 but you wanna make sure you're just taking that, 744 00:28:17,440 --> 00:28:20,640 you know, for, we'll say 15% into consideration 745 00:28:20,640 --> 00:28:22,380 when you're looking at a sold item, right? 746 00:28:22,380 --> 00:28:24,560 So you wanna make sure after fees and everything, 747 00:28:24,560 --> 00:28:25,680 you're still gonna make money. 748 00:28:25,680 --> 00:28:27,760 You don't wanna be breaking even or even losing money 749 00:28:27,760 --> 00:28:30,400 because a lot of people do that because they just think, 750 00:28:30,400 --> 00:28:33,240 you know, you see that sale number, that's how much you get. 751 00:28:33,240 --> 00:28:34,960 That's, you know, that you gotta take your fees, 752 00:28:34,960 --> 00:28:36,080 your shipping, all that, 753 00:28:36,080 --> 00:28:38,540 all the backend stuff out of that, your time, 754 00:28:38,540 --> 00:28:40,000 you gotta value your time as well, 755 00:28:40,000 --> 00:28:42,120 because that's kind of, you know, people forget about that. 756 00:28:42,120 --> 00:28:44,040 Your time is the most valuable thing we have. 757 00:28:44,040 --> 00:28:46,820 So I think starting out on eBay, we kind of covered it, right? 758 00:28:46,820 --> 00:28:50,160 So you wanna, you know, basically have the app. 759 00:28:50,160 --> 00:28:51,040 You don't need any money, 760 00:28:51,040 --> 00:28:53,560 but if you were to start maybe 250 bucks, 761 00:28:53,560 --> 00:28:55,280 sell stuff around your house 762 00:28:55,280 --> 00:28:58,320 and just be willing to sell anything, right? 763 00:28:58,320 --> 00:29:01,040 Walk in a thrift store, look at everything, you know, 764 00:29:01,040 --> 00:29:03,340 stuff that interests you, looks different, look it up. 765 00:29:03,340 --> 00:29:05,280 You can look anything up on eBay. 766 00:29:06,440 --> 00:29:09,040 I'd be surprised if you can walk in a thrift store 767 00:29:09,040 --> 00:29:12,200 and if something has a name on it and you look it up, 768 00:29:12,200 --> 00:29:14,400 I'd be surprised if you could find more than 10 items 769 00:29:14,400 --> 00:29:16,320 that just don't show up on eBay. 770 00:29:16,320 --> 00:29:18,400 Literally everything is listed on eBay 771 00:29:18,400 --> 00:29:20,060 that you can think of in a thrift store. 772 00:29:20,060 --> 00:29:23,800 I mean, every single brand, every weird knickknack 773 00:29:23,800 --> 00:29:27,080 from any place in the world, you can probably look up. 774 00:29:27,080 --> 00:29:30,680 And I'm not sure how fine you are of the eBay, 775 00:29:30,680 --> 00:29:33,920 take a picture and it looks for items 776 00:29:33,920 --> 00:29:35,320 that have that same picture, right? 777 00:29:35,320 --> 00:29:36,980 So you can scan the barcode 778 00:29:36,980 --> 00:29:38,880 or you can take a picture of the item. 779 00:29:39,840 --> 00:29:42,200 I've used it, it's not perfect, right? 780 00:29:42,200 --> 00:29:43,880 It's like you're taking a picture of something 781 00:29:43,880 --> 00:29:45,780 so you're gonna have the background in it and everything. 782 00:29:45,780 --> 00:29:47,700 But I have had it work for me 783 00:29:47,700 --> 00:29:49,400 where it was just some weird, you know, 784 00:29:49,400 --> 00:29:51,700 little figurine on the shelf and I took a picture of it 785 00:29:51,700 --> 00:29:54,340 and it'll pop up, you know, at least you'll see 786 00:29:54,340 --> 00:29:56,360 the same kind of items 787 00:29:56,360 --> 00:29:58,920 so you have some kind of reference point. 788 00:29:58,920 --> 00:30:02,280 Right, and if you're trying to do Amazon eBay 789 00:30:02,280 --> 00:30:04,800 at the same time, I would pick one, 790 00:30:04,800 --> 00:30:06,800 first of all, I'd pick one, master one 791 00:30:06,800 --> 00:30:08,680 before moving into the other. 792 00:30:08,680 --> 00:30:10,040 Doesn't matter which one you go with, 793 00:30:10,040 --> 00:30:11,960 because you're a reseller at the end of the day. 794 00:30:11,960 --> 00:30:13,500 But that being aside, 795 00:30:13,500 --> 00:30:15,600 if you do decide to do both at the same time, 796 00:30:15,600 --> 00:30:16,640 look them up on both apps. 797 00:30:16,640 --> 00:30:18,960 There's some stuff that's more valuable on Amazon 798 00:30:18,960 --> 00:30:20,280 than it is on eBay. 799 00:30:20,280 --> 00:30:21,320 And the other way around, 800 00:30:21,320 --> 00:30:23,600 there's some stuff on eBay that's way more valuable 801 00:30:23,600 --> 00:30:25,680 than it'll ever be on Amazon. 802 00:30:25,680 --> 00:30:26,520 Yep, I agree. 803 00:30:26,520 --> 00:30:29,040 All right, so I mean, that's your basic with eBay, right? 804 00:30:29,040 --> 00:30:31,520 You can start with nothing and not build it off from there. 805 00:30:31,520 --> 00:30:32,640 So now we're gonna switch gears 806 00:30:32,640 --> 00:30:35,640 into the mighty, mighty beast of Amazon. 807 00:30:35,640 --> 00:30:37,760 It's like, you know, everybody, you know, 808 00:30:37,760 --> 00:30:39,680 eBay is a lot more worked in Amazon 809 00:30:39,680 --> 00:30:41,120 no matter how you look at it. 810 00:30:42,120 --> 00:30:43,800 But that's not necessarily a bad thing, right? 811 00:30:43,800 --> 00:30:45,280 Because there's a market 812 00:30:45,280 --> 00:30:47,160 and there's a customer on each platform. 813 00:30:47,160 --> 00:30:48,440 So starting out on Amazon, 814 00:30:48,440 --> 00:30:50,640 we kind of hit on it a little bit. 815 00:30:50,640 --> 00:30:52,600 So you have to create an account. 816 00:30:52,600 --> 00:30:53,960 Now this isn't like eBay, right? 817 00:30:53,960 --> 00:30:57,200 You can't just sign up today and start selling today. 818 00:30:57,200 --> 00:30:58,840 Amazon used to be able to do that. 819 00:30:58,840 --> 00:31:01,280 When I signed up, you know, four or five years ago, 820 00:31:01,280 --> 00:31:03,040 you could sign up and start selling right away. 821 00:31:03,040 --> 00:31:04,680 But now as a new seller, 822 00:31:04,680 --> 00:31:06,160 there's a lot of more hoops 823 00:31:06,160 --> 00:31:07,720 that make you kind of jump through, right? 824 00:31:07,720 --> 00:31:09,320 Thanks for listening to another episode 825 00:31:09,320 --> 00:31:11,340 of the Resellers Mindset Podcast. 826 00:31:11,340 --> 00:31:13,680 Today's full episode and all previous episodes 827 00:31:13,680 --> 00:31:15,800 are available to all YouTube members 828 00:31:15,800 --> 00:31:18,600 along with the weekly Zoom call and private Discord. 829 00:31:18,600 --> 00:31:21,800 Head on over to youtube.com backslash to use book guy 830 00:31:21,800 --> 00:31:48,800 and consider joining for as little as $2.99 a month.