1 00:00:00,000 --> 00:00:01,580 Welcome back to another episode 2 00:00:01,580 --> 00:00:03,480 of the Resellers Mindset Podcast. 3 00:00:03,480 --> 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 --> 00:00:28,100 Let's get into this week's episode. 14 00:00:28,100 --> 00:00:31,300 What is up, everyone? Welcome into episode eight. 15 00:00:31,300 --> 00:00:32,380 Correct, Johnny B? 16 00:00:32,380 --> 00:00:33,220 Episode eight? 17 00:00:35,540 --> 00:00:37,140 Eight, yes, episode eight. 18 00:00:37,140 --> 00:00:39,620 Today's topic is fees. 19 00:00:39,620 --> 00:00:41,020 So is there ever gonna get to a point 20 00:00:41,020 --> 00:00:43,260 where the fees keep rising 21 00:00:43,260 --> 00:00:48,020 and resellers basically no longer exist? 22 00:00:48,020 --> 00:00:49,780 The short answer would be, I mean, 23 00:00:49,780 --> 00:00:52,140 maybe in another 20 years, 24 00:00:52,140 --> 00:00:56,420 as all these platforms keep nickel and diming us every year, 25 00:00:56,420 --> 00:00:59,500 oh, we're only gonna raise it 5% just temporarily. 26 00:00:59,500 --> 00:01:02,460 And then it's like kind of like the post office, 27 00:01:02,460 --> 00:01:03,300 rate hikes. 28 00:01:03,300 --> 00:01:05,660 I guess we can include in shipping hikes too, 29 00:01:05,660 --> 00:01:07,220 because that's kind of fees we pay anyway. 30 00:01:07,220 --> 00:01:08,340 That's another way. 31 00:01:08,340 --> 00:01:10,640 Platforms take fees out of shipping as well. 32 00:01:10,640 --> 00:01:13,900 So that's another thing we're gonna dive into here. 33 00:01:13,900 --> 00:01:17,220 Recent news, Amazon increased their fees again. 34 00:01:17,220 --> 00:01:19,380 I mean, the writing was on the wall. 35 00:01:19,380 --> 00:01:23,060 Everybody knew the temporary fuel surcharge fee 36 00:01:23,060 --> 00:01:24,580 wasn't gonna go nowhere. 37 00:01:24,580 --> 00:01:26,380 It's just what these companies tell you, 38 00:01:26,380 --> 00:01:27,780 kind of like damage control, right? 39 00:01:27,780 --> 00:01:29,220 They just tell you one thing 40 00:01:29,220 --> 00:01:30,940 and then it just becomes permanent. 41 00:01:30,940 --> 00:01:32,260 And it's the same with the post office. 42 00:01:32,260 --> 00:01:34,220 Every fourth quarter, right? 43 00:01:34,220 --> 00:01:37,620 They're like, hey, this is the holiday fee increase 44 00:01:37,620 --> 00:01:38,740 and it's always permanent. 45 00:01:38,740 --> 00:01:41,580 Like you call it the holiday fee increase 46 00:01:41,580 --> 00:01:43,700 when it's just permanent come in January. 47 00:01:44,980 --> 00:01:46,100 What's your thoughts on fees? 48 00:01:46,100 --> 00:01:47,220 Give me a little bit of insight 49 00:01:47,220 --> 00:01:49,400 in your inside your mind there on fees. 50 00:01:50,540 --> 00:01:52,460 My thoughts on fees, I hate them, 51 00:01:52,460 --> 00:01:54,580 but it's part of the game, right? 52 00:01:54,580 --> 00:01:56,180 And you brought on the key points. 53 00:01:56,180 --> 00:01:58,780 It's just an every year thing, they're gonna go up. 54 00:01:58,780 --> 00:02:01,940 The only thing I think about on fees on a constant basis 55 00:02:01,940 --> 00:02:06,340 is everybody does free shipping right now or, 56 00:02:06,340 --> 00:02:08,760 well, on Amazon you can charge for it, sure. 57 00:02:08,760 --> 00:02:11,580 But on eBay land, media, 58 00:02:11,580 --> 00:02:13,880 you kind of have to offer that free shipping. 59 00:02:13,880 --> 00:02:17,300 I'm wondering if at some point, I can't tell you when, 60 00:02:17,300 --> 00:02:18,700 that'll just go away. 61 00:02:18,700 --> 00:02:20,420 Everybody's got to charge for fees 62 00:02:20,420 --> 00:02:24,740 unless you're paying, unless you're listed only $50 books 63 00:02:24,740 --> 00:02:26,660 or you think they're $50 books. 64 00:02:26,660 --> 00:02:27,860 I mean, that's the other angle, right? 65 00:02:27,860 --> 00:02:30,020 All the resellers band together co-op style, 66 00:02:30,020 --> 00:02:32,020 like look, this Nora Roberts book, 67 00:02:32,020 --> 00:02:35,340 she's 50 bucks these days, cause stamps are $25. 68 00:02:36,780 --> 00:02:38,700 I mean, those are two scenarios, 69 00:02:38,700 --> 00:02:40,220 either free shipping goes away 70 00:02:40,220 --> 00:02:42,780 or we just jack up the price. 71 00:02:42,780 --> 00:02:45,840 Okay, so what happens is every time 72 00:02:45,840 --> 00:02:47,180 they have these fee increases, 73 00:02:47,180 --> 00:02:49,060 whether it's Amazon or eBay, 74 00:02:49,060 --> 00:02:51,660 everybody just says the same exact thing you said, 75 00:02:51,660 --> 00:02:53,340 well, I'm just going to raise my prices. 76 00:02:53,340 --> 00:02:54,180 Well, then guess what? 77 00:02:54,180 --> 00:02:55,220 You're never going to get to sell 78 00:02:55,220 --> 00:02:57,060 because nine out of 10 people 79 00:02:57,060 --> 00:02:59,100 aren't going to be in line behind you raising theirs 80 00:02:59,100 --> 00:03:01,740 because it's just the way the world works, unfortunately. 81 00:03:01,740 --> 00:03:03,200 But that would be the great thing 82 00:03:03,200 --> 00:03:04,740 and correct thing to do, right? 83 00:03:04,740 --> 00:03:06,820 If Amazon raises their fees by 10%. 84 00:03:06,820 --> 00:03:07,860 We match it, right? 85 00:03:07,860 --> 00:03:09,380 We just match it penny for penny. 86 00:03:09,380 --> 00:03:10,220 That's the same thing. 87 00:03:10,220 --> 00:03:11,060 We make the same money. 88 00:03:11,060 --> 00:03:13,500 It'd be beautiful, but that, I can't do that. 89 00:03:13,500 --> 00:03:14,340 The whole platform. 90 00:03:14,340 --> 00:03:15,380 The best charge for businesses out there 91 00:03:15,380 --> 00:03:16,780 doing stupid stuff is why, 92 00:03:16,780 --> 00:03:18,220 and his name is Jensen Books. 93 00:03:18,220 --> 00:03:19,700 We're looking at you, Jensen. 94 00:03:19,700 --> 00:03:22,680 Yeah, the whole thing just goes up 10%, right? 95 00:03:22,680 --> 00:03:25,460 Everybody overnight immediately raises their prices 10%, 96 00:03:25,460 --> 00:03:27,020 but that is not the case. 97 00:03:27,020 --> 00:03:31,800 And honestly, stupidity will always stop that from happening. 98 00:03:31,800 --> 00:03:34,660 Even if fees continue to go up, 99 00:03:34,660 --> 00:03:38,740 I just think people don't do the correct research and time 100 00:03:38,740 --> 00:03:42,500 and understand how markets work to actively be like, 101 00:03:42,500 --> 00:03:44,440 hey, my fees went up, right? 102 00:03:44,440 --> 00:03:45,360 You see it all the time 103 00:03:45,360 --> 00:03:48,160 when you're listening on eBay and Amazon. 104 00:03:48,160 --> 00:03:49,860 People aren't making money, right? 105 00:03:49,860 --> 00:03:51,980 They're listing things at a loss. 106 00:03:51,980 --> 00:03:54,460 So I think when fees go up, 107 00:03:54,460 --> 00:03:57,380 it affects the larger sellers, right? 108 00:03:57,380 --> 00:04:00,460 That are chasing these pennies and chasing the volume 109 00:04:00,460 --> 00:04:04,320 versus people that are focusing on more profitable items 110 00:04:04,320 --> 00:04:07,980 or niching down and kind of understanding their business. 111 00:04:07,980 --> 00:04:09,820 I don't think it hits us as hard as it does 112 00:04:09,820 --> 00:04:12,260 as somebody that just wants to get to sale, 113 00:04:12,260 --> 00:04:14,940 to get the sale, to boost the algorithm, to get feedback, 114 00:04:14,940 --> 00:04:16,700 to basically, I don't know. 115 00:04:16,700 --> 00:04:17,580 I don't know why they do it, 116 00:04:17,580 --> 00:04:19,300 but it's what they do. 117 00:04:20,180 --> 00:04:22,500 There's a couple of things there. 118 00:04:22,500 --> 00:04:27,100 You can sell things at a loss if there's a gain over there. 119 00:04:27,100 --> 00:04:28,860 And that's what a lot of people miss. 120 00:04:28,860 --> 00:04:30,620 Like your Jensen books guy, right? 121 00:04:30,620 --> 00:04:32,940 I'm sure he sells things. 122 00:04:32,940 --> 00:04:34,780 He asked you because he's still in business. 123 00:04:34,780 --> 00:04:37,060 I'm sure he sells things at X. 124 00:04:37,060 --> 00:04:38,860 I don't know why he's selling things at Y. 125 00:04:38,860 --> 00:04:39,680 It doesn't make sense. 126 00:04:39,680 --> 00:04:40,540 I can get Y on eBay. 127 00:04:40,540 --> 00:04:42,920 I can't get Y on Amazon. 128 00:04:42,920 --> 00:04:45,220 But on eBay, if you do that, 129 00:04:45,220 --> 00:04:47,860 that's gonna boost the algorithm to juice the other sales. 130 00:04:47,860 --> 00:04:49,540 Also those bigger sellers, 131 00:04:49,540 --> 00:04:51,860 they're banking on those multi-quantity orders. 132 00:04:51,860 --> 00:04:53,420 And the correct term is lost leaders. 133 00:04:53,420 --> 00:04:55,100 They're using those to get in the door. 134 00:04:55,100 --> 00:04:56,580 Once they're in the door, they're like, 135 00:04:56,580 --> 00:05:00,500 oh, if I buy three books, I get a fourth one free. 136 00:05:00,500 --> 00:05:03,360 So negative dollar, negative dollar, negative dollar, 137 00:05:03,360 --> 00:05:06,460 positive $15, net 12. 138 00:05:06,460 --> 00:05:08,220 That's how that game works. 139 00:05:08,220 --> 00:05:09,820 And I guess on eBay, right? 140 00:05:09,820 --> 00:05:11,700 It shows that right on the listing, right? 141 00:05:11,700 --> 00:05:13,540 It shows buy three, get the fourth free. 142 00:05:13,540 --> 00:05:14,860 It is a little banner thing. 143 00:05:14,860 --> 00:05:16,620 Like, oh, I'm gonna buy three more 144 00:05:16,620 --> 00:05:17,820 to get that fourth book free. 145 00:05:17,820 --> 00:05:18,980 That's that game. 146 00:05:18,980 --> 00:05:21,900 But you gotta be at large volume to play that game 147 00:05:21,900 --> 00:05:23,700 to take those negative three losses 148 00:05:23,700 --> 00:05:25,660 to get that fourth profit kind of thing. 149 00:05:26,720 --> 00:05:29,700 Or the other way around, whatever numbers I said. 150 00:05:29,700 --> 00:05:30,540 But yeah. 151 00:05:30,540 --> 00:05:31,380 Yeah, yeah. 152 00:05:31,380 --> 00:05:35,300 So I guess on eBay, it has a little bit more validity to it. 153 00:05:35,300 --> 00:05:37,260 I don't get that game on Amazon. 154 00:05:37,260 --> 00:05:38,100 It doesn't make any sense. 155 00:05:38,100 --> 00:05:40,580 You don't get anything out of selling at a loss on Amazon. 156 00:05:40,580 --> 00:05:42,780 As far as I'm aware, educate me if I'm wrong, Mike. 157 00:05:42,780 --> 00:05:43,620 Educate me. 158 00:05:43,620 --> 00:05:48,380 I guess maybe Amazon will send you a Christmas card 159 00:05:48,380 --> 00:05:50,220 or something for making them so much money. 160 00:05:50,220 --> 00:05:51,060 I don't know. 161 00:05:51,060 --> 00:05:52,260 You want it for the Christmas card. 162 00:05:52,260 --> 00:05:54,140 I don't wanna be that person to find out 163 00:05:54,140 --> 00:05:57,340 if you get a Christmas card for selling so much on Amazon 164 00:05:57,340 --> 00:05:58,180 and paying so much in fees. 165 00:05:58,180 --> 00:05:59,820 I've just seen Denson books with like this stack 166 00:05:59,820 --> 00:06:01,700 of just crappy holiday cards. 167 00:06:01,700 --> 00:06:02,540 I did it. 168 00:06:02,540 --> 00:06:03,460 I got my cards. 169 00:06:03,460 --> 00:06:05,340 Gets them for every single holiday, 170 00:06:05,340 --> 00:06:07,700 even the ones that aren't even on the calendars. 171 00:06:08,700 --> 00:06:10,980 I just think that fees are gonna continue. 172 00:06:10,980 --> 00:06:15,980 Even if the world economics the way they are right now, 173 00:06:16,020 --> 00:06:18,940 even if they weren't the way they are with inflation 174 00:06:18,940 --> 00:06:20,060 and all this other nonsense, 175 00:06:20,060 --> 00:06:23,700 I still think these platforms are going to continue 176 00:06:23,700 --> 00:06:27,260 to raise fees year after year after year, 177 00:06:27,260 --> 00:06:28,780 and they all follow suit. 178 00:06:28,780 --> 00:06:31,300 So what happens after Amazon are raised? 179 00:06:31,300 --> 00:06:34,820 It'll be eBay in two months raising their fees by 1% 180 00:06:34,820 --> 00:06:37,340 or some another way they can get a little bit out of you. 181 00:06:37,340 --> 00:06:39,140 It's just part of the game. 182 00:06:39,140 --> 00:06:44,140 And you just gotta, don't get so beat up about it. 183 00:06:44,140 --> 00:06:45,380 Right, and like I was saying, 184 00:06:45,380 --> 00:06:47,220 there's gonna be a market shift at some point 185 00:06:47,220 --> 00:06:49,740 because media mail used to be two something. 186 00:06:49,740 --> 00:06:52,060 It's almost three and a half bucks now. 187 00:06:52,060 --> 00:06:54,380 So selling your $4 books, 188 00:06:54,380 --> 00:06:56,340 I mean, that's gradually, 189 00:06:56,340 --> 00:06:57,740 unless you're doing the loss leader game, 190 00:06:57,740 --> 00:07:00,380 like I was saying, a huge volume, 191 00:07:00,380 --> 00:07:03,260 it's gonna be $5 minimum to list on eBay book 192 00:07:03,260 --> 00:07:05,220 or $6, $7, $8. 193 00:07:05,220 --> 00:07:07,460 Soon it'll be 10 bucks plus. 194 00:07:07,460 --> 00:07:09,380 That's just how it's gonna play out. 195 00:07:09,380 --> 00:07:11,620 That's how I see it playing it out. 196 00:07:11,620 --> 00:07:13,860 Outside of the fantasy scenarios we talk about 197 00:07:13,860 --> 00:07:15,260 or that huge volume way. 198 00:07:17,140 --> 00:07:17,980 That's what I think. 199 00:07:17,980 --> 00:07:19,180 That's what's gonna happen. 200 00:07:19,180 --> 00:07:20,500 Yeah, I think you're correct. 201 00:07:20,500 --> 00:07:22,980 Just thinking about how far media mail is going up 202 00:07:22,980 --> 00:07:25,260 in the past three years, it's crazy, right? 203 00:07:25,260 --> 00:07:27,660 349 is what you're gonna pay minimum now. 204 00:07:27,660 --> 00:07:30,460 So like, that's crazy compared to what it used to be. 205 00:07:30,460 --> 00:07:33,860 280, like 270s, like it's, 206 00:07:34,980 --> 00:07:35,820 we're gonna get to a point here where- 207 00:07:35,820 --> 00:07:37,620 We're just selling $4 books then. 208 00:07:37,620 --> 00:07:42,620 You can't even, you'll get some pocket change doing it now. 209 00:07:43,140 --> 00:07:46,060 Yeah, it's just part of the business, right? 210 00:07:46,060 --> 00:07:49,700 It's not, the platforms don't necessarily, 211 00:07:49,700 --> 00:07:50,940 they're not attacking you. 212 00:07:50,940 --> 00:07:52,460 They just wanna make as much as they can, 213 00:07:52,460 --> 00:07:54,980 just like you wanna make as much as you can. 214 00:07:54,980 --> 00:07:59,980 And the times we're in is a perfect excuse to raise fees. 215 00:08:01,180 --> 00:08:04,180 With inflation going up, you see it everywhere you go. 216 00:08:04,180 --> 00:08:05,940 Oh, well, we gotta raise the cost of this 217 00:08:05,940 --> 00:08:07,380 because of this reason. 218 00:08:07,380 --> 00:08:09,500 So this is like the perfect storm almost 219 00:08:09,500 --> 00:08:12,380 for these platforms to kind of quote unquote, 220 00:08:12,380 --> 00:08:14,540 justify raising fees. 221 00:08:15,460 --> 00:08:17,340 Right, it's very much domino effect. 222 00:08:17,340 --> 00:08:19,940 I mean, gas, milk, everybody follows suit 223 00:08:19,940 --> 00:08:22,780 and trickle, trickle, trickle, trickle. 224 00:08:22,780 --> 00:08:24,420 Everything's more expensive. 225 00:08:24,420 --> 00:08:26,620 Yeah, I mean, you used to be able to get two dozen of eggs 226 00:08:26,620 --> 00:08:29,660 for a dollar, now it's 349 for one dozen of eggs. 227 00:08:31,020 --> 00:08:33,620 So unfortunately, it's the same with these companies, right? 228 00:08:33,620 --> 00:08:34,820 They're paying more for everything. 229 00:08:34,820 --> 00:08:36,980 So guess who's gotta pay their bills? 230 00:08:36,980 --> 00:08:39,100 We do, and that's how they do it. 231 00:08:39,100 --> 00:08:41,740 Right, and I'm gonna make a funny joke here, 232 00:08:41,740 --> 00:08:43,140 or I think it's funny. 233 00:08:43,140 --> 00:08:44,740 It's gonna be cheaper to buy a milk cow 234 00:08:44,740 --> 00:08:46,380 than it is to buy a gallon of milk 235 00:08:46,380 --> 00:08:48,380 week after week at some point. 236 00:08:48,380 --> 00:08:50,460 Oh yeah. I'm not even kidding. 237 00:08:50,460 --> 00:08:52,140 It's like, whew, I don't even know, 238 00:08:52,140 --> 00:08:53,940 like almost six bucks for a gallon? 239 00:08:54,980 --> 00:08:56,980 Well, where you're at, mine's a little cheaper 240 00:08:56,980 --> 00:08:58,220 because we've got a dairy in town. 241 00:08:58,220 --> 00:09:00,880 So we kind of get this small town discount. 242 00:09:01,740 --> 00:09:02,820 Yeah, I agree. 243 00:09:02,820 --> 00:09:05,580 And I think we just have to accept these 244 00:09:05,580 --> 00:09:08,740 sky is falling scenarios when fees go up. 245 00:09:08,740 --> 00:09:10,860 And with the recent one, I mean, honestly, 246 00:09:10,860 --> 00:09:13,820 it's with Amazon, I'm not worried about it. 247 00:09:13,820 --> 00:09:17,540 Sure, it adds up over tens of thousands of dollars 248 00:09:17,540 --> 00:09:21,340 in sales in a year, but is it gonna sway? 249 00:09:21,340 --> 00:09:23,700 If you were gonna start the business today, 250 00:09:23,700 --> 00:09:27,180 is that extra 5% gonna sway you from doing the business? 251 00:09:27,180 --> 00:09:30,700 No, and if it does, then you don't wanna do it anyway. 252 00:09:30,700 --> 00:09:32,900 Right, so whenever these get thrown at you, 253 00:09:32,900 --> 00:09:34,980 they are curve ball, sure. 254 00:09:34,980 --> 00:09:36,700 Oh, I didn't plan it. 255 00:09:36,700 --> 00:09:39,980 Well, during this game, you planned on that happening. 256 00:09:39,980 --> 00:09:41,260 So it's a curve ball. 257 00:09:41,260 --> 00:09:44,180 It may be a little sooner than you expected. 258 00:09:44,180 --> 00:09:45,980 You just execute the plans you made 259 00:09:45,980 --> 00:09:48,500 and go around the curve ball. 260 00:09:48,500 --> 00:09:53,500 The harsh reality is if somebody is gonna quit 261 00:09:54,000 --> 00:09:56,860 because of a 5%, 10% fee increase, 262 00:09:56,860 --> 00:09:59,500 then I hope they're selling books and they quit 263 00:09:59,500 --> 00:10:02,260 because it's one less person I have to compete with. 264 00:10:02,260 --> 00:10:04,460 I mean, that's just how I look at it. 265 00:10:04,460 --> 00:10:06,260 Like you're gonna go away because a little bit of fees 266 00:10:06,260 --> 00:10:08,100 and see you later, bye. 267 00:10:08,100 --> 00:10:12,500 Pretty much, I mean, they go in there. 268 00:10:12,500 --> 00:10:16,740 No, some resellers go in there with that mentality of, 269 00:10:16,740 --> 00:10:18,380 hey, this is great, I'm making some money. 270 00:10:18,380 --> 00:10:19,500 And then those fees spike. 271 00:10:19,500 --> 00:10:21,700 I mean, we talked about it in one of the episodes, 272 00:10:21,700 --> 00:10:23,460 they stomp their feet and they rage quit, right? 273 00:10:23,460 --> 00:10:24,860 They're gone. 274 00:10:24,860 --> 00:10:26,220 That's great for me and you. 275 00:10:26,220 --> 00:10:28,300 But like you said, less competition. 276 00:10:28,300 --> 00:10:31,840 If you can't handle a fee increase, 277 00:10:31,840 --> 00:10:35,880 you're in the wrong game, my friend, wrong game. 278 00:10:35,880 --> 00:10:37,480 Yeah, I think you should, 279 00:10:38,680 --> 00:10:41,080 maybe you get hit with a fee increase like we all do. 280 00:10:41,080 --> 00:10:42,720 Maybe you start thinking of ways, 281 00:10:42,720 --> 00:10:47,080 how to reduce your buy cost by 10%, 5%, 282 00:10:47,080 --> 00:10:49,840 whatever that increase is, or maybe even double that. 283 00:10:49,840 --> 00:10:52,660 There's so many outside the box ways 284 00:10:52,660 --> 00:10:55,160 you can combat these kind of increases 285 00:10:55,160 --> 00:10:57,400 when it comes to buying your inventory, 286 00:10:57,400 --> 00:10:59,800 no matter what kind of business you have. 287 00:10:59,800 --> 00:11:00,700 It blows my mind. 288 00:11:00,700 --> 00:11:04,040 People get so caught up on the one way to do things. 289 00:11:04,040 --> 00:11:07,400 Go to the discount retailers, go to the thrift stores. 290 00:11:07,400 --> 00:11:10,160 When in reality, that's literally the tiny, tiny tip 291 00:11:10,160 --> 00:11:11,200 of the iceberg. 292 00:11:11,200 --> 00:11:14,100 And it's the most expensive way to do it. 293 00:11:14,100 --> 00:11:15,960 Right, I mean, I'll speak for myself here. 294 00:11:15,960 --> 00:11:18,680 I mean, I was shipping most of my items first class. 295 00:11:18,680 --> 00:11:21,760 I dropped it because of the fee increases for everything. 296 00:11:21,760 --> 00:11:23,340 I have a modus for using first class. 297 00:11:23,340 --> 00:11:26,240 I just wanted higher ratings because most of my ratings 298 00:11:26,240 --> 00:11:27,640 say super fast shipping. 299 00:11:27,640 --> 00:11:29,880 Well, that's what you get with first class, right? 300 00:11:29,880 --> 00:11:30,880 So I boost my ratings. 301 00:11:30,880 --> 00:11:33,040 So I achieved my goal and now I'm dropping it. 302 00:11:33,040 --> 00:11:34,800 So I'm getting more margins, right? 303 00:11:37,240 --> 00:11:40,320 And then my second thing is I have my little 304 00:11:40,320 --> 00:11:43,740 stay flat mailers and I put a bubble mailer over that. 305 00:11:43,740 --> 00:11:46,040 I'm not gonna do that no more unless it's a CD. 306 00:11:47,440 --> 00:11:49,680 I don't need to, it's unnecessary. 307 00:11:49,680 --> 00:11:52,660 So there's less things I have to spend money on, 308 00:11:52,660 --> 00:11:55,280 which saves me money, which puts money in my pocket 309 00:11:55,280 --> 00:11:58,440 to redeploy however I see fit. 310 00:11:58,440 --> 00:12:01,040 So, and there's other things. 311 00:12:01,040 --> 00:12:03,440 If you're buying tape from Walmart, 312 00:12:03,440 --> 00:12:06,240 maybe Walmart's not the cheapest place to get your tape. 313 00:12:06,240 --> 00:12:07,680 Do some research. 314 00:12:07,680 --> 00:12:08,760 Yeah, it's probably not. 315 00:12:08,760 --> 00:12:10,840 You probably get it cheaper from anywhere else. 316 00:12:10,840 --> 00:12:11,660 Right. 317 00:12:14,600 --> 00:12:16,080 I got my heater cooking me over here. 318 00:12:16,080 --> 00:12:17,080 I had to turn it off. 319 00:12:18,240 --> 00:12:20,480 Don't burn, Mike, don't burn. 320 00:12:20,480 --> 00:12:22,480 The whole right side of me is just sizzling. 321 00:12:22,480 --> 00:12:24,080 You just catch fire. 322 00:12:24,080 --> 00:12:26,200 I don't know what to say in this situation. 323 00:12:26,200 --> 00:12:27,320 I can't help him. 324 00:12:28,480 --> 00:12:29,320 I think you're right though. 325 00:12:29,320 --> 00:12:33,040 That's a good thing to hit on is 326 00:12:33,040 --> 00:12:35,660 a lot of resellers waste a lot of money on supplies 327 00:12:35,660 --> 00:12:38,480 they don't need and a lot of stupid stuff they don't need. 328 00:12:38,480 --> 00:12:43,180 Like the fancy smancy mailers are like the biggest thing. 329 00:12:43,180 --> 00:12:45,800 Like me and Deb, Deb's got her own business. 330 00:12:45,800 --> 00:12:48,440 I'm wearing her gear out here. 331 00:12:48,440 --> 00:12:52,000 Deb Ramory Studio, Cat and Dog Toys, check it out. 332 00:12:52,000 --> 00:12:53,000 She's got her own website. 333 00:12:53,000 --> 00:12:54,680 So her big- 334 00:12:54,680 --> 00:12:56,120 Very subtle plug. 335 00:12:56,120 --> 00:12:57,960 Hey, hey, I work there, right? 336 00:12:57,960 --> 00:13:00,400 So I got to support my boss. 337 00:13:00,400 --> 00:13:01,240 No, Deb's awesome. 338 00:13:01,240 --> 00:13:02,080 Buy her stuff. 339 00:13:02,080 --> 00:13:02,900 Do it. 340 00:13:02,900 --> 00:13:03,740 Yeah. 341 00:13:03,740 --> 00:13:06,640 The big thing with her is like people like on Etsy 342 00:13:06,640 --> 00:13:09,400 get carried away with like putting little chotskis 343 00:13:09,400 --> 00:13:14,320 in the bags and buying polymailers that are branded. 344 00:13:14,320 --> 00:13:17,380 Dude, these branded polymailers are like $3 a piece. 345 00:13:17,380 --> 00:13:19,460 And it's just literally just a crappy, 346 00:13:19,460 --> 00:13:20,900 not even bubble polymailer, 347 00:13:20,900 --> 00:13:23,600 but it's just got your logo on it, right? 348 00:13:23,600 --> 00:13:25,160 You don't need that crap, right? 349 00:13:25,160 --> 00:13:27,280 You do not need none of that. 350 00:13:27,280 --> 00:13:29,240 I got one once that had chocolate in it. 351 00:13:29,240 --> 00:13:31,600 I forget what I ordered from Etsy, but it had chocolate 352 00:13:31,600 --> 00:13:35,480 and a little handwritten note with glitter on it. 353 00:13:35,480 --> 00:13:36,680 But the note was really cool. 354 00:13:36,680 --> 00:13:37,920 You know what it said? 355 00:13:37,920 --> 00:13:39,620 It said, I'm from Russia. 356 00:13:39,620 --> 00:13:40,680 My name is Olga. 357 00:13:40,680 --> 00:13:43,120 So have a warm hug from a cold country. 358 00:13:43,120 --> 00:13:44,120 I thought that was great. 359 00:13:44,120 --> 00:13:44,960 I didn't care about the chocolate. 360 00:13:44,960 --> 00:13:46,240 I didn't care about the fancy glitter stuff. 361 00:13:46,240 --> 00:13:47,520 I thought the note was clever. 362 00:13:47,520 --> 00:13:48,560 Everything else was crap. 363 00:13:48,560 --> 00:13:51,280 Okay, did you eat the chocolate? 364 00:13:51,280 --> 00:13:53,840 Why wouldn't I eat the Russian chocolate? 365 00:13:53,840 --> 00:13:57,040 There could have been anything in that chocolate, dude. 366 00:13:57,040 --> 00:13:58,840 Oh my God. 367 00:13:58,840 --> 00:14:00,960 It's Russian chocolate from Russia. 368 00:14:00,960 --> 00:14:02,680 I mean, what would he want from me? 369 00:14:02,680 --> 00:14:04,120 So there goes the takeaway, right? 370 00:14:04,120 --> 00:14:06,960 Stop putting Sour Patch Kids and Swedish Fish 371 00:14:06,960 --> 00:14:07,920 in your orders, right? 372 00:14:07,920 --> 00:14:09,720 Because fees keep going up. 373 00:14:09,720 --> 00:14:11,880 You gotta think of ways. 374 00:14:11,880 --> 00:14:16,720 Honestly, if you get something from Amazon or eBay, 375 00:14:16,720 --> 00:14:19,000 as long as it's a secure packaging, right? 376 00:14:19,000 --> 00:14:21,400 You don't care what's on the box. 377 00:14:21,400 --> 00:14:23,680 As long as the item inside is safe and sound 378 00:14:23,680 --> 00:14:25,520 and you get the item you wanted, 379 00:14:25,520 --> 00:14:27,660 the outside packaging doesn't matter. 380 00:14:27,660 --> 00:14:29,240 You don't need the eBay stickers. 381 00:14:29,240 --> 00:14:30,640 You don't need the eBay tape. 382 00:14:30,640 --> 00:14:31,480 You don't need this. 383 00:14:31,480 --> 00:14:32,960 You don't need... 384 00:14:32,960 --> 00:14:35,680 That's 100% a way you can combat fees. 385 00:14:35,680 --> 00:14:37,520 I wasn't even thinking of that until you brought it up, 386 00:14:37,520 --> 00:14:40,840 but that's definitely a big, you know, it's money wasted. 387 00:14:40,840 --> 00:14:42,120 Like I'm paying for Uline right now, 388 00:14:42,120 --> 00:14:45,280 but I paid that to figure out what kind of packaging I need. 389 00:14:45,280 --> 00:14:48,000 And I'm totally looking for cheaper options. 390 00:14:48,000 --> 00:14:51,040 I mean, Uline is expensive. 391 00:14:51,040 --> 00:14:51,960 Really expensive. It is. 392 00:14:51,960 --> 00:14:53,480 Yeah, you had me looking at them 393 00:14:53,480 --> 00:14:55,600 and I was like, you're shipping. 394 00:14:55,600 --> 00:14:57,280 Right, and I had to find out what I needed 395 00:14:57,280 --> 00:14:59,600 and they give me next day delivery, they give free samples. 396 00:14:59,600 --> 00:15:01,040 So they're great for that aspect. 397 00:15:01,040 --> 00:15:02,320 But now that I know what I want, 398 00:15:02,320 --> 00:15:04,640 I'm navigating away from that to give myself more money, 399 00:15:04,640 --> 00:15:07,080 more working capital, more cashflow. 400 00:15:07,080 --> 00:15:08,320 I got the tape, right? 401 00:15:08,320 --> 00:15:11,120 I mean, I have probably a year supply of eBay tape. 402 00:15:11,120 --> 00:15:12,720 I don't need eBay tape anymore. 403 00:15:12,720 --> 00:15:16,080 In fact, I don't even know if I want to use their branding 404 00:15:16,080 --> 00:15:17,000 for my packages. 405 00:15:17,000 --> 00:15:18,240 I think it's unnecessary 406 00:15:19,560 --> 00:15:21,840 because they know they got an eBay package 407 00:15:22,880 --> 00:15:24,120 because they ordered it, right? 408 00:15:24,120 --> 00:15:26,120 They don't need to know before they open it 409 00:15:26,120 --> 00:15:27,440 what the heck they ordered. 410 00:15:28,320 --> 00:15:30,400 I ordered a bunch of eBay tape, 411 00:15:30,400 --> 00:15:31,800 but I used to be an everything seller 412 00:15:31,800 --> 00:15:32,840 and I'm still going through it. 413 00:15:32,840 --> 00:15:36,480 And it pisses me off because if I'm at the storage unit 414 00:15:36,480 --> 00:15:38,960 and I have to pack like an Amazon box or something, 415 00:15:38,960 --> 00:15:40,600 I can't use my eBay tape, right? 416 00:15:40,600 --> 00:15:43,000 So basically I got to have a separate tape gun 417 00:15:43,000 --> 00:15:45,280 that's got plain tape in it because, 418 00:15:45,280 --> 00:15:46,800 so yeah, that eBay tape, 419 00:15:46,800 --> 00:15:48,800 I probably should take it out back and burn it, 420 00:15:48,800 --> 00:15:51,200 but I'll keep using it while I can. 421 00:15:51,200 --> 00:15:53,600 So, but that's the, you know, I wasted money, 422 00:15:53,600 --> 00:15:55,640 but I was young and dumb back then. 423 00:15:55,640 --> 00:15:56,480 That was like 35 years ago. 424 00:15:56,480 --> 00:15:57,320 We all are. 425 00:15:57,320 --> 00:15:59,360 We do what everybody else does. 426 00:15:59,360 --> 00:16:00,440 We see the cool stuff. 427 00:16:00,440 --> 00:16:01,680 I got to do the cool thing, 428 00:16:01,680 --> 00:16:03,120 but cool thing don't mean cheap. 429 00:16:03,120 --> 00:16:04,360 It don't mean profitable. 430 00:16:04,360 --> 00:16:06,800 It means wasted money, honestly. 431 00:16:06,800 --> 00:16:09,680 Do you think, okay, so now we're just gonna, 432 00:16:09,680 --> 00:16:11,600 we're gonna throw this one out here for me and you, 433 00:16:11,600 --> 00:16:12,720 because I'm gonna have to think about this. 434 00:16:12,720 --> 00:16:13,640 So I'll let you go first. 435 00:16:13,640 --> 00:16:18,240 Do you think eBay and Amazon are going to raise fees again 436 00:16:18,240 --> 00:16:20,040 in 2023? 437 00:16:20,040 --> 00:16:22,160 Yes, 100%, both of them. 438 00:16:22,160 --> 00:16:23,000 No question. 439 00:16:23,800 --> 00:16:25,560 100%. 440 00:16:25,560 --> 00:16:26,480 Yeah. 441 00:16:26,480 --> 00:16:28,600 I'll put money on it even. 442 00:16:28,600 --> 00:16:30,280 I'll put money that they all raise fees. 443 00:16:30,280 --> 00:16:31,560 I'm not betting you. 444 00:16:31,560 --> 00:16:35,560 I'm not betting you, but I was leaning yes. 445 00:16:35,560 --> 00:16:40,560 I was probably like maybe 75, 25 yes to no. 446 00:16:40,760 --> 00:16:44,040 What's your 25% saying to be able to stay the course 447 00:16:44,040 --> 00:16:46,200 and not give us another fee? 448 00:16:46,200 --> 00:16:47,160 I don't know. 449 00:16:47,160 --> 00:16:48,000 I don't have a good reason. 450 00:16:48,000 --> 00:16:49,320 I need to know this reason. 451 00:16:49,320 --> 00:16:50,160 I want you to know. 452 00:16:50,160 --> 00:16:52,920 It's wishful thinking that they keep continuing 453 00:16:52,920 --> 00:16:57,240 to raise fees and they keep continuing to lose customers 454 00:16:57,240 --> 00:17:01,440 and sellers that maybe they pump the brakes a little bit, 455 00:17:01,440 --> 00:17:04,360 but it's corporations, right? 456 00:17:04,360 --> 00:17:06,000 That they're most likely going up, 457 00:17:06,000 --> 00:17:07,720 but that was my thought process behind it. 458 00:17:07,720 --> 00:17:12,320 Like, hey, these platforms, Ebay's customer base 459 00:17:12,320 --> 00:17:13,800 goes down a little bit, but I mean, 460 00:17:13,800 --> 00:17:17,120 they're going off numbers versus the pandemic numbers. 461 00:17:17,120 --> 00:17:19,480 So I guess it's kind of skewed. 462 00:17:19,480 --> 00:17:23,080 I did this in the Discord group and I'll explain what I did. 463 00:17:23,080 --> 00:17:25,000 And you'll remember what I did. 464 00:17:25,000 --> 00:17:28,000 I listed the stock price for the last 10 years 465 00:17:28,000 --> 00:17:30,520 for both Amazon and eBay. 466 00:17:30,520 --> 00:17:33,240 Right now, both of those guys are, 467 00:17:33,240 --> 00:17:35,240 at one of their lowest points. 468 00:17:35,240 --> 00:17:37,840 So they're scrambling for their quarterly reports 469 00:17:37,840 --> 00:17:39,040 to get their stock money up. 470 00:17:39,040 --> 00:17:41,840 That's why you're seeing Amazon shut down warehouses 471 00:17:41,840 --> 00:17:43,480 and 10,000 layoffs. 472 00:17:43,480 --> 00:17:45,960 And you're seeing eBay cycling CEOs 473 00:17:45,960 --> 00:17:49,160 trying card selling and car parts selling. 474 00:17:49,160 --> 00:17:50,600 It's throwing everything under the sun, 475 00:17:50,600 --> 00:17:52,760 shoe selling almost a year ago. 476 00:17:52,760 --> 00:17:53,600 That was the big thing. 477 00:17:53,600 --> 00:17:54,920 Now it's the other stuff. 478 00:17:56,040 --> 00:17:58,280 They're scrambling for their quarterly numbers 479 00:17:58,280 --> 00:18:01,320 because they want their stock buyers happy 480 00:18:01,320 --> 00:18:03,640 and they want to acquire more of them. 481 00:18:03,640 --> 00:18:07,160 So business lesson here, 482 00:18:07,160 --> 00:18:08,680 you do what these guys are doing, 483 00:18:08,680 --> 00:18:11,280 the way they're doing it in order to do that. 484 00:18:11,280 --> 00:18:13,920 And both of them are increasing fees. 485 00:18:13,920 --> 00:18:16,680 They're cutting, they too are doing what we do. 486 00:18:16,680 --> 00:18:18,200 We're not buying the stupid tape. 487 00:18:18,200 --> 00:18:21,800 They're getting rid of their money loss 488 00:18:21,800 --> 00:18:24,040 where they can maintain money at least 489 00:18:24,040 --> 00:18:26,280 and hopefully not lose any more. 490 00:18:26,280 --> 00:18:28,560 They got to dig themselves out of hole 491 00:18:28,560 --> 00:18:30,640 and then we have the economy affecting everything. 492 00:18:30,640 --> 00:18:33,560 So who knows when they'll dig themselves out of the hole. 493 00:18:33,560 --> 00:18:35,800 Yeah, and I think that's another good point. 494 00:18:35,800 --> 00:18:38,240 So Amazon used to have all their Amazon branded stuff 495 00:18:38,240 --> 00:18:39,880 and they straight up came out 496 00:18:39,880 --> 00:18:41,240 and said, we want to get out of the business 497 00:18:41,240 --> 00:18:42,800 basically knocking everything off. 498 00:18:42,800 --> 00:18:45,600 So that's another way they, 499 00:18:45,600 --> 00:18:47,200 you got to cut your losses somewhere. 500 00:18:47,200 --> 00:18:50,840 So, if you're, no matter what category you're doing, 501 00:18:50,840 --> 00:18:52,360 just look for better stuff. 502 00:18:52,360 --> 00:18:54,520 If you're listing $10 stuff, 503 00:18:54,520 --> 00:18:57,640 list only $12 stuff now, be smarter, stop. 504 00:18:58,600 --> 00:19:00,040 And it'll benefit you. 505 00:19:00,040 --> 00:19:03,560 But if you start shooting for a higher average sales price 506 00:19:03,560 --> 00:19:05,120 and you get a little bit more picky, 507 00:19:05,120 --> 00:19:06,640 it's going to be less work 508 00:19:06,640 --> 00:19:09,160 and you're going to make more money in essence, 509 00:19:09,160 --> 00:19:11,960 as long as you have the material to look at. 510 00:19:11,960 --> 00:19:14,920 Now, not everybody has the material, 511 00:19:14,920 --> 00:19:17,560 everybody can go through thousands of books a week. 512 00:19:17,560 --> 00:19:18,400 That's not the case. 513 00:19:18,400 --> 00:19:19,240 So that's a little different, 514 00:19:19,240 --> 00:19:22,600 but overall just kind of increase, 515 00:19:22,600 --> 00:19:24,480 pass it on to the customer, right? 516 00:19:24,480 --> 00:19:26,160 That's all it comes, that's what the company is doing. 517 00:19:26,160 --> 00:19:27,920 No matter what they come out and say, 518 00:19:27,920 --> 00:19:31,080 oh, they don't want to pass on to the customer. 519 00:19:31,080 --> 00:19:32,640 They don't care who says what, right? 520 00:19:32,640 --> 00:19:33,800 Pass it on to the customer. 521 00:19:33,800 --> 00:19:35,560 That means you got to wait, 522 00:19:35,560 --> 00:19:38,840 second in line to make the sale, then it is what it is. 523 00:19:39,960 --> 00:19:41,920 And here's the other thing I didn't address, 524 00:19:41,920 --> 00:19:43,880 we were talking about what would happen 525 00:19:43,880 --> 00:19:45,360 because of the fee stuff. 526 00:19:45,360 --> 00:19:46,880 I think people are going to switch over 527 00:19:46,880 --> 00:19:49,280 from free shipping to charging for shipping. 528 00:19:49,280 --> 00:19:52,120 I very much see that happening because they got it. 529 00:19:52,120 --> 00:19:54,680 Because they want to sell it for $12 still, 530 00:19:54,680 --> 00:19:56,400 but they can't afford to go to the stamp. 531 00:19:56,400 --> 00:19:59,040 So check mark, switch gears, 532 00:19:59,040 --> 00:20:00,200 well, we're charging shipping now 533 00:20:00,200 --> 00:20:03,640 in order to maintain that quote unquote price point. 534 00:20:03,640 --> 00:20:07,680 So you don't un-bake the shipping costs and the price. 535 00:20:07,680 --> 00:20:10,560 So instead of being $12 free shipping, 536 00:20:10,560 --> 00:20:12,240 you don't go $8 plus shipping, 537 00:20:12,240 --> 00:20:15,480 you stay at 12, but you add shipping costs. 538 00:20:15,480 --> 00:20:17,920 Yeah, because I've done my research, 539 00:20:17,920 --> 00:20:18,920 at least on the eBay end, 540 00:20:18,920 --> 00:20:21,240 if you're $30 or less, it's free shipping. 541 00:20:21,240 --> 00:20:23,960 $30 or more, you can get away with charging shipping. 542 00:20:23,960 --> 00:20:26,920 It should be the reverse, it is not. 543 00:20:26,920 --> 00:20:30,000 You'll see stuff selling for $5 with free shipping, 544 00:20:30,000 --> 00:20:32,000 and CDs, DVDs, and books. 545 00:20:33,080 --> 00:20:34,560 They should charge shipping. 546 00:20:34,560 --> 00:20:36,480 They'll get $8 or $9 out of it. 547 00:20:37,840 --> 00:20:38,880 And if you're playing that, 548 00:20:38,880 --> 00:20:40,480 we can't really play that game too hard, 549 00:20:40,480 --> 00:20:42,000 and you still can on eBay, 550 00:20:42,000 --> 00:20:44,320 where you can overcharge for the cost of stamp 551 00:20:44,320 --> 00:20:45,640 to try to get some money. 552 00:20:45,640 --> 00:20:47,800 But eBay's caught onto that finally, 553 00:20:47,800 --> 00:20:49,240 and they're taking a cut of that even now. 554 00:20:49,240 --> 00:20:52,120 So that's another fee if you're playing that game. 555 00:20:52,120 --> 00:20:54,520 Yeah, and I guess another route you can do 556 00:20:54,520 --> 00:20:57,320 to combat some of these fees is diversify. 557 00:20:57,320 --> 00:21:00,080 So I'll give you a perfect example here. 558 00:21:00,080 --> 00:21:02,360 Deb used to be only an Etsy seller, 559 00:21:02,360 --> 00:21:04,720 and Etsy continued to raise their fees, 560 00:21:04,720 --> 00:21:05,560 and raised their fees. 561 00:21:05,560 --> 00:21:06,560 Well, Deb said, you know what? 562 00:21:06,560 --> 00:21:07,400 I had enough of this. 563 00:21:07,400 --> 00:21:08,600 So what'd she do? 564 00:21:08,600 --> 00:21:10,560 She made her own Shopify store. 565 00:21:10,560 --> 00:21:12,840 She went in all on her own, 566 00:21:12,840 --> 00:21:15,520 debbrammerystudio.com, another plug here. 567 00:21:15,520 --> 00:21:16,560 We're just gonna keep plugging her 568 00:21:16,560 --> 00:21:19,320 throughout the whole podcast. 569 00:21:19,320 --> 00:21:21,240 She built the website from nothing. 570 00:21:21,240 --> 00:21:22,920 Sure, you got the monthly cost of that, 571 00:21:22,920 --> 00:21:24,800 but the fees on Shopify, 572 00:21:24,800 --> 00:21:26,800 we're talking 3% versus Etsy, 573 00:21:26,800 --> 00:21:30,760 that's like 15 plus percent on every transaction. 574 00:21:30,760 --> 00:21:32,520 So yeah, there's a trade-off. 575 00:21:32,520 --> 00:21:35,560 With your own website, you have to drive your own traffic. 576 00:21:35,560 --> 00:21:39,080 So it's not something where you can fix this overnight, 577 00:21:39,080 --> 00:21:42,160 but there's options, and routes, and steps you can take 578 00:21:42,160 --> 00:21:45,080 to almost mitigate fees. 579 00:21:45,080 --> 00:21:47,040 It kind of sucks if you're, 580 00:21:47,040 --> 00:21:48,920 I guess if you're cross-listened, it's good, right? 581 00:21:48,920 --> 00:21:50,920 Because then you can just kind of have your thing everywhere, 582 00:21:50,920 --> 00:21:53,960 but if you're just on one platform, you gotta diversify. 583 00:21:53,960 --> 00:21:58,160 And maybe the fees is why you decide to go do Macar, 584 00:21:58,160 --> 00:22:00,000 or eBay, or Amazon. 585 00:22:00,000 --> 00:22:02,360 I mean, nobody's going to Amazon for less fees, 586 00:22:02,360 --> 00:22:04,640 which we all know doesn't exist. 587 00:22:04,640 --> 00:22:06,720 If you're going to Amazon for less fees, 588 00:22:06,720 --> 00:22:08,040 I don't wanna sell where you're selling, 589 00:22:08,040 --> 00:22:10,360 because there ain't, I mean, Amazon, 590 00:22:10,360 --> 00:22:12,200 you just, the convenience of Amazon, 591 00:22:12,200 --> 00:22:13,360 that's why the fees are so much, 592 00:22:13,360 --> 00:22:14,720 and not having to ship yourself. 593 00:22:14,720 --> 00:22:16,680 But I think people gotta start thinking outside the box 594 00:22:16,680 --> 00:22:18,640 with these fee increases. 595 00:22:18,640 --> 00:22:20,280 Right, and here's another example, 596 00:22:20,280 --> 00:22:21,360 as I just closed the window, 597 00:22:21,360 --> 00:22:23,520 because eBay's been pumping it lately. 598 00:22:23,520 --> 00:22:26,840 You can buy stuff at eBay with your proceeds now. 599 00:22:26,840 --> 00:22:29,280 It's like your own little eBay credit. 600 00:22:29,280 --> 00:22:31,520 So they're getting even more money. 601 00:22:31,520 --> 00:22:34,280 Because they're encouraging you to shop where you sell. 602 00:22:35,440 --> 00:22:36,560 Don't do that. 603 00:22:36,560 --> 00:22:39,160 Dude, I did for the first time, and I said I never would. 604 00:22:39,160 --> 00:22:41,600 Oh, you son of a, yeah. 605 00:22:41,600 --> 00:22:44,400 All right, I'll give a little bit of backstory here, all right? 606 00:22:44,400 --> 00:22:46,480 Oh, I've been meaning this. 607 00:22:46,480 --> 00:22:50,800 I buy this vegan beef jerky, 608 00:22:50,800 --> 00:22:53,600 and this guy on eBay, when I first went and looked, right, 609 00:22:53,600 --> 00:22:55,520 because it's always cheaper on eBay, 610 00:22:55,520 --> 00:22:58,400 had a list of for 60 bucks, best offer, right? 611 00:22:58,400 --> 00:22:59,840 I'm always best offering, right? 612 00:22:59,840 --> 00:23:00,800 I'm low balling. 613 00:23:01,640 --> 00:23:05,720 And I sent an offer for 45, and it's for 10 bags, right? 614 00:23:05,720 --> 00:23:08,440 So $4.50 for a bag of jerky ain't bad, 615 00:23:08,440 --> 00:23:09,440 especially vegan jerky. 616 00:23:09,440 --> 00:23:11,720 It's like 750 in stores. 617 00:23:11,720 --> 00:23:14,520 So he accepted the offer. 618 00:23:14,520 --> 00:23:17,840 And when I spent my proceeds the other night, 619 00:23:17,840 --> 00:23:19,640 this was the third time of me buying it 620 00:23:19,640 --> 00:23:21,080 from the same person, right? 621 00:23:21,080 --> 00:23:23,640 So I just go in, I shoot him an offer, 622 00:23:23,640 --> 00:23:25,480 I put in a message, hey, it's Mike again. 623 00:23:25,480 --> 00:23:27,320 I'm back for more bags of jerky. 624 00:23:27,320 --> 00:23:28,520 He accepts it every time. 625 00:23:28,520 --> 00:23:30,400 So I spent my proceeds. 626 00:23:30,400 --> 00:23:31,600 I'm guilty as charged. 627 00:23:31,600 --> 00:23:33,480 So it's working, I guess. 628 00:23:34,960 --> 00:23:39,240 So I'm trying to decide what I find more amusing. 629 00:23:39,240 --> 00:23:41,160 The fact that you're buying jerky off eBay, 630 00:23:41,160 --> 00:23:42,560 I'd be afraid that they licked it 631 00:23:42,560 --> 00:23:44,800 before they mailed it to me. 632 00:23:45,960 --> 00:23:50,360 Or the fact that you're going back for it. 633 00:23:50,360 --> 00:23:51,800 I'm up to three, dude. 634 00:23:51,800 --> 00:23:52,960 I'm a repeat buyer. 635 00:23:52,960 --> 00:23:57,960 They don't exist on eBay, but I got my guy, my jerky guy. 636 00:23:59,440 --> 00:24:00,280 No, that's fine. 637 00:24:00,280 --> 00:24:02,000 And the other thing they're doing, PYs, 638 00:24:02,000 --> 00:24:05,000 is you want your money faster than the next day? 639 00:24:05,000 --> 00:24:09,360 We'll tack on 1%, 3% for an order to do that. 640 00:24:09,360 --> 00:24:12,400 We'll get you your money in 10 minutes. 641 00:24:12,400 --> 00:24:13,240 Okay, so. 642 00:24:13,240 --> 00:24:14,680 We're taking some more money from you. 643 00:24:14,680 --> 00:24:17,080 I got an experience with this too, right? 644 00:24:17,080 --> 00:24:19,600 I just got all these eBay experiences. 645 00:24:19,600 --> 00:24:21,840 Why are you letting them take your money, Mike? 646 00:24:21,840 --> 00:24:23,440 I'm not, but I was curious 647 00:24:23,440 --> 00:24:25,760 because I seen a YouTube video about it, right? 648 00:24:25,760 --> 00:24:27,640 Payments on demand, right? 649 00:24:27,640 --> 00:24:29,200 They pay you instantly. 650 00:24:29,200 --> 00:24:30,960 You look in your wallet, there's nothing there, 651 00:24:30,960 --> 00:24:32,960 and then you open it again and all the money's there. 652 00:24:32,960 --> 00:24:35,040 So I was like, all right, let me go down this rabbit hole. 653 00:24:35,040 --> 00:24:37,320 So I go into payments. 654 00:24:37,320 --> 00:24:40,320 I switch to, it's like, what is it, 655 00:24:40,320 --> 00:24:42,640 immediate payments or something? 656 00:24:42,640 --> 00:24:45,080 Wait, wait, wait, Mike, I got a surprise for you. 657 00:24:46,920 --> 00:24:48,200 What do you got for me? 658 00:24:48,200 --> 00:24:50,040 Yeah. Wait. 659 00:24:50,040 --> 00:24:52,040 I turned off screen share. 660 00:24:54,000 --> 00:24:54,840 Oh, there it is. 661 00:24:54,840 --> 00:24:57,160 Oh yeah, he's got the soundboard set up. 662 00:24:57,160 --> 00:24:59,720 I should have put my sound on my phone at max level. 663 00:25:00,840 --> 00:25:02,920 The Amazon one's just a text message. 664 00:25:02,920 --> 00:25:03,960 It's nothing exciting. 665 00:25:03,960 --> 00:25:05,640 It's no cha-ching sounds or anything. 666 00:25:05,640 --> 00:25:06,760 Yeah, it's just like ding. 667 00:25:06,760 --> 00:25:08,240 Yeah. 668 00:25:08,240 --> 00:25:11,280 But yeah, so I changed it to this immediate payouts, right? 669 00:25:11,280 --> 00:25:12,840 Not thinking anything of it. 670 00:25:12,840 --> 00:25:15,240 I have it set up so they pay me every day, right? 671 00:25:15,240 --> 00:25:17,640 So it just goes in every day. 672 00:25:17,640 --> 00:25:19,800 And so I'm sitting there, it's been like, 673 00:25:19,800 --> 00:25:22,200 it was like four or five days and like, 674 00:25:22,200 --> 00:25:23,640 I'm not getting paid out. 675 00:25:23,640 --> 00:25:25,600 I'm like, what's going on here? 676 00:25:25,600 --> 00:25:26,960 Like I thought to split. 677 00:25:26,960 --> 00:25:27,960 That's how it works. 678 00:25:27,960 --> 00:25:30,480 We had an agreement, eBay gave me my money. 679 00:25:30,480 --> 00:25:33,760 I'm like, I thought I'd get paid immediately, right? 680 00:25:33,760 --> 00:25:36,920 So if you switch to the immediate payouts, 681 00:25:36,920 --> 00:25:39,720 you have to request the immediate payout. 682 00:25:39,720 --> 00:25:41,920 It doesn't do it automatically. 683 00:25:41,920 --> 00:25:43,160 Interesting. 684 00:25:43,160 --> 00:25:44,000 Okay. 685 00:25:44,000 --> 00:25:44,840 So it's- 686 00:25:44,840 --> 00:25:46,760 I messed with it, so I have no idea. 687 00:25:46,760 --> 00:25:48,560 See, see, now I'm teaching you on eBay. 688 00:25:48,560 --> 00:25:49,760 That's how you know the end of the world's coming. 689 00:25:49,760 --> 00:25:51,080 But I'm still not gonna do it. 690 00:25:51,080 --> 00:25:54,160 So that was the thing, right? 691 00:25:54,160 --> 00:25:56,320 So I went from getting my payments every day, 692 00:25:56,320 --> 00:25:57,920 I switched it to this immediate payout, 693 00:25:57,920 --> 00:26:00,360 but I don't go in every day and click pay me now, right? 694 00:26:00,360 --> 00:26:02,680 I'm just, so I went back and switched it. 695 00:26:02,680 --> 00:26:05,000 So I went back and switched it to everyday payout, 696 00:26:05,000 --> 00:26:06,880 but that's how that program works. 697 00:26:06,880 --> 00:26:08,640 You have to click pay me now. 698 00:26:08,640 --> 00:26:09,680 Yeah, you get it right away. 699 00:26:09,680 --> 00:26:11,240 But if you're not, you know, 700 00:26:11,240 --> 00:26:13,760 who's sitting on there every day, click and pay me now. 701 00:26:13,760 --> 00:26:16,280 I would be more interested if it worked over the weekends, 702 00:26:16,280 --> 00:26:18,880 because if you've done eBay for a while, 703 00:26:18,880 --> 00:26:21,920 you know it's gonna be really Monday after a certain period. 704 00:26:21,920 --> 00:26:23,240 It will. 705 00:26:23,240 --> 00:26:24,640 Yeah, it will. 706 00:26:24,640 --> 00:26:25,480 Yeah, because think about it, 707 00:26:25,480 --> 00:26:26,960 PayPal used to be the same way, right? 708 00:26:26,960 --> 00:26:28,520 You're gonna get paid immediately 709 00:26:28,520 --> 00:26:30,760 for like the extra 2% or whatever. 710 00:26:30,760 --> 00:26:32,120 Well, yeah, I made clear through eBay, 711 00:26:32,120 --> 00:26:33,920 but I think it's gonna be up to your bank 712 00:26:33,920 --> 00:26:35,720 for clearing into your actual account. 713 00:26:35,720 --> 00:26:37,600 I guess so, you got hold up there. 714 00:26:37,600 --> 00:26:40,280 Yeah, you still dealing in gold bullion out there 715 00:26:40,280 --> 00:26:41,200 in the middle of nowhere. 716 00:26:41,200 --> 00:26:42,960 So I doubt it'll get to your bank right away, 717 00:26:42,960 --> 00:26:44,560 but mine's it will. 718 00:26:44,560 --> 00:26:46,920 Well, you got fancy Citibank, so yeah. 719 00:26:46,920 --> 00:26:48,000 I know. 720 00:26:48,000 --> 00:26:50,880 Here's the other thing I've noticed a lot, 721 00:26:50,880 --> 00:26:52,800 and this is gonna speak from the consumer side, 722 00:26:52,800 --> 00:26:54,880 not the reseller side. 723 00:26:54,880 --> 00:26:57,280 When you go to buy something now, 724 00:26:57,280 --> 00:26:59,720 you can put it in installment plans. 725 00:26:59,720 --> 00:27:00,880 Oh yeah. 726 00:27:00,880 --> 00:27:03,440 $5 item, you can make four easy payments 727 00:27:03,440 --> 00:27:07,320 of one whatever, $1.25. 728 00:27:07,320 --> 00:27:09,400 Yeah, I think it's just another way 729 00:27:09,400 --> 00:27:11,040 like we're talking about here, right? 730 00:27:11,040 --> 00:27:14,480 It's another way that these platforms can get sales 731 00:27:14,480 --> 00:27:16,480 and get their fee money, 732 00:27:16,480 --> 00:27:18,360 because that's, you know, it's not like, 733 00:27:18,360 --> 00:27:20,160 yeah, sure eBay sells eBay stuff 734 00:27:20,160 --> 00:27:21,720 and Amazon sells Amazon stuff, 735 00:27:21,720 --> 00:27:24,320 but most of their money comes from, you know, 736 00:27:24,320 --> 00:27:26,000 third party sellers like you and me. 737 00:27:26,000 --> 00:27:28,480 That's where a lot of their money comes from, 738 00:27:28,480 --> 00:27:30,800 their promoted listings, 739 00:27:30,800 --> 00:27:32,760 just their fees on shipping and everything, 740 00:27:32,760 --> 00:27:34,280 which is stupid, right? 741 00:27:34,280 --> 00:27:35,640 Why are we paying fees on shipping? 742 00:27:35,640 --> 00:27:37,240 It's not like you're making money on shipping, 743 00:27:37,240 --> 00:27:38,640 but like you said, 744 00:27:38,640 --> 00:27:40,680 if you don't have that check and balance in place, 745 00:27:40,680 --> 00:27:42,920 people take advantage of the system, right? 746 00:27:42,920 --> 00:27:45,240 One cent, $1,000 shipping, 747 00:27:45,240 --> 00:27:46,720 and then you don't pay fees on the shipping. 748 00:27:46,720 --> 00:27:49,200 So it's a balancing act, 749 00:27:49,200 --> 00:27:51,560 and I just don't want people to get caught up 750 00:27:51,560 --> 00:27:52,920 when they see these fee increases, 751 00:27:52,920 --> 00:27:54,840 and don't think it's like a personal attack. 752 00:27:54,840 --> 00:27:56,640 Like I think people get personally offended 753 00:27:56,640 --> 00:27:57,800 when they see a fee increase. 754 00:27:57,800 --> 00:28:00,040 Like they're trying to run me out of business. 755 00:28:00,040 --> 00:28:01,120 No, they're just like you. 756 00:28:01,120 --> 00:28:03,040 They're stealing from my wallet. 757 00:28:03,040 --> 00:28:04,360 Oh, here we go. 758 00:28:04,360 --> 00:28:06,560 No, no, they're not. 759 00:28:06,560 --> 00:28:08,840 They're trying to pivot too, man. 760 00:28:08,840 --> 00:28:11,640 They're a business too, just like you are. 761 00:28:11,640 --> 00:28:12,880 Like, and the worse comes to the worst. 762 00:28:12,880 --> 00:28:15,200 If you want, you know, less than 3% fees, 763 00:28:15,200 --> 00:28:16,400 you can start your own website. 764 00:28:16,400 --> 00:28:18,240 You just have to drive your own traffic. 765 00:28:18,240 --> 00:28:19,760 You can do it yourself and have fun promoting it. 766 00:28:19,760 --> 00:28:20,880 Good luck. 767 00:28:20,880 --> 00:28:24,800 That's a whole nother world you don't want to be in. 768 00:28:24,800 --> 00:28:28,480 Trust me, it's a grind building a brand, 769 00:28:28,480 --> 00:28:29,640 building a website. 770 00:28:29,640 --> 00:28:33,040 It's not, and it's not, it's gonna cost you, right? 771 00:28:33,040 --> 00:28:34,680 You're gonna have to advertise and everything else. 772 00:28:34,680 --> 00:28:35,520 So. 773 00:28:35,520 --> 00:28:37,200 You'll be operating in a loss for a while, 774 00:28:37,200 --> 00:28:42,200 but you do that grind and bless you if you do, 775 00:28:42,200 --> 00:28:45,200 but oh man, I wouldn't do that now. 776 00:28:45,200 --> 00:28:48,960 I think I'm gonna nip this in the bud right here right now. 777 00:28:48,960 --> 00:28:52,200 If you're on eBay, you're already storing your stuff, right? 778 00:28:52,200 --> 00:28:53,440 So if you raise your costs 779 00:28:53,440 --> 00:28:56,800 and something takes a little bit longer to sell, who cares? 780 00:28:56,800 --> 00:28:58,400 Thanks for listening to another episode 781 00:28:58,400 --> 00:29:00,440 of the Resellers Mindset Podcast. 782 00:29:00,440 --> 00:29:02,760 Today's full episode and all previous episodes 783 00:29:02,760 --> 00:29:04,880 are available to all YouTube members 784 00:29:04,880 --> 00:29:07,680 along with the weekly Zoom call and private Discord. 785 00:29:07,680 --> 00:29:10,840 Head on over to youtube.com backslash to use book guy 786 00:29:10,840 --> 00:29:25,840 and consider joining for as little as 2.99 a month.