1 00:00:00,000 --> 00:00:03,480 Welcome back to another episode of the Resellers Mindset Podcast. 2 00:00:03,480 --> 00:00:07,000 My name is Mike, also known as the used book guy on YouTube, along with my friend 3 00:00:07,000 --> 00:00:09,120 and fellow full-time reseller, Johnny B. 4 00:00:09,480 --> 00:00:12,720 We help people start and grow their reselling businesses from the ground up. 5 00:00:12,960 --> 00:00:16,640 We also have a weekly zoom call and private discord for all YouTube members. 6 00:00:16,840 --> 00:00:21,180 Head on over to youtube.com backslash use book guy to join the channel and gain 7 00:00:21,180 --> 00:00:25,480 access to the full length podcast zoom call and private discord today. 8 00:00:25,680 --> 00:00:27,360 Let's get into this week's episode. 9 00:00:27,560 --> 00:00:28,600 What is up everybody? 10 00:00:28,600 --> 00:00:33,280 Welcome into episode 16, 10 for me, six from him. 11 00:00:33,680 --> 00:00:36,400 However, he wants to look my ring fingers, like getting lost. 12 00:00:36,440 --> 00:00:40,200 Wait, I'm missing fingers here because of my green screen. 13 00:00:41,520 --> 00:00:44,960 Today's topic is going to be basically our outlook for this year. 14 00:00:44,960 --> 00:00:48,440 What we think the reselling market is going to do here overall. 15 00:00:48,760 --> 00:00:51,400 We're already almost a month in, so I feel like we kind of have a good 16 00:00:51,400 --> 00:00:54,720 feel already for how things are going to play out for those who don't know. 17 00:00:55,040 --> 00:00:57,840 Mike here, he's book guy over on YouTube, full-time media seller. 18 00:00:57,840 --> 00:00:59,440 And we got Johnny B over here. 19 00:00:59,680 --> 00:01:02,000 You know, listen, my background's fake, right? 20 00:01:02,000 --> 00:01:03,400 I'm not actually in the library. 21 00:01:03,400 --> 00:01:05,440 He's actually in his warehouse over there. 22 00:01:05,440 --> 00:01:06,920 So that's the big difference here. 23 00:01:06,920 --> 00:01:11,400 He's more, uh, full-time eBay, but he also is full-time Amazon. 24 00:01:11,400 --> 00:01:14,400 So, I mean, there's a bunch of things we can cover right with outlook. 25 00:01:14,680 --> 00:01:17,440 I think kind of the big one is going to be, what are the 26 00:01:17,440 --> 00:01:19,480 platforms going to do this year? 27 00:01:19,480 --> 00:01:23,280 Do we think, do we think we're going to see, uh, more competition? 28 00:01:23,280 --> 00:01:27,120 You know, whatnot was like a huge explosion onto the scene last year. 29 00:01:27,120 --> 00:01:28,760 It's another one of those going to pop up. 30 00:01:29,120 --> 00:01:33,320 Um, is the eBay live auction thing going to, you know, gain some traction? 31 00:01:33,480 --> 00:01:33,680 Right. 32 00:01:33,680 --> 00:01:34,560 He, he left. 33 00:01:34,560 --> 00:01:35,760 So that's where we're going to start. 34 00:01:35,760 --> 00:01:36,080 All right. 35 00:01:36,080 --> 00:01:38,240 eBay live auction going against whatnot. 36 00:01:38,480 --> 00:01:39,120 Give me your opinion. 37 00:01:39,120 --> 00:01:40,520 No, it's no competition. 38 00:01:40,520 --> 00:01:41,920 I mean, they're too little too late. 39 00:01:41,920 --> 00:01:45,480 What, what, whatnot is capitalized that market. 40 00:01:45,760 --> 00:01:49,600 I think it's going to be one of those flash in the pan things for a period of time. 41 00:01:49,600 --> 00:01:55,400 I'm, if I had to guess, I'd say four years max, but more along the lines of two. 42 00:01:55,400 --> 00:02:01,080 Um, and then unless they make some significant changes, I think, um, was the 43 00:02:01,080 --> 00:02:03,840 reason for my whole hypothesis on that. 44 00:02:04,400 --> 00:02:10,200 Um, as far as how eBay live auctions will do in comparison or just on its own, I 45 00:02:10,200 --> 00:02:14,720 think on its own, it'll people will try it out, see what it's about. 46 00:02:14,880 --> 00:02:19,120 Um, I don't think it'll catch on like they're planning on it too, cause 47 00:02:19,320 --> 00:02:22,000 eBay doesn't like to spend a lot of money on advertising. 48 00:02:22,000 --> 00:02:27,280 Um, I'm not sure how much advertising and whatnot did, but they were everywhere. 49 00:02:27,280 --> 00:02:27,560 Right. 50 00:02:27,560 --> 00:02:29,200 They exploded on the scene, like you said. 51 00:02:29,440 --> 00:02:33,760 So at least they got, I'm going to assume maybe they got even organic advertising, 52 00:02:33,800 --> 00:02:35,480 even if they didn't pay any dollars for it. 53 00:02:35,480 --> 00:02:36,640 I don't see eBay doing that. 54 00:02:37,520 --> 00:02:38,040 Yeah. 55 00:02:38,280 --> 00:02:41,800 I think you're right on that because I mean, how many bigger reselling 56 00:02:41,800 --> 00:02:42,640 YouTubers, right? 57 00:02:42,640 --> 00:02:44,880 This video is sponsored by whatnot. 58 00:02:44,920 --> 00:02:47,040 Use my code and get $10 free to spend. 59 00:02:47,040 --> 00:02:51,480 I mean, that was for three months period, every big video that I've ever 60 00:02:51,480 --> 00:02:55,320 seen, every big reselling channel was pushing that every single video. 61 00:02:55,320 --> 00:02:57,000 So I think you're right on the head. 62 00:02:57,040 --> 00:02:59,680 Maybe we'll just talk about like market share to begin here. 63 00:02:59,680 --> 00:03:01,840 Like there's so many platforms. 64 00:03:02,320 --> 00:03:03,920 Um, do you think another one's going to pop up? 65 00:03:03,920 --> 00:03:06,480 You think there's going to be another reselling platform pop up this year to 66 00:03:06,480 --> 00:03:08,240 try to take another piece of the pie? 67 00:03:09,560 --> 00:03:12,760 I don't know about this year, but again, I say within the next two years, we're 68 00:03:12,760 --> 00:03:16,520 going to see one, it might be this year actually what it is. 69 00:03:16,800 --> 00:03:18,640 I couldn't say, is it going to be an auction? 70 00:03:18,640 --> 00:03:20,240 Is it going to be a buy it now thing? 71 00:03:20,240 --> 00:03:24,200 Is it going to be something that maybe it's in the media? 72 00:03:24,200 --> 00:03:27,360 It's just a whole media site that sells stuff. 73 00:03:27,520 --> 00:03:28,040 Who knows? 74 00:03:28,680 --> 00:03:34,400 Do you think any of the smaller platforms are going to either go away this year 75 00:03:34,400 --> 00:03:38,560 or maybe by getting bought by larger, you know, maybe getting bought by eBay or 76 00:03:38,560 --> 00:03:43,640 Amazon, like kind of like a Depop or Poshmark or Mercari, the smaller ones, 77 00:03:43,640 --> 00:03:46,520 even though they're really not that small, but in comparison, they are. 78 00:03:46,520 --> 00:03:49,640 Do you think, you know, they're going to be around or maybe they're going to 79 00:03:49,640 --> 00:03:50,280 go away? 80 00:03:52,040 --> 00:03:59,280 I think, I think everybody's on a freeze on spending money, the Baker guys, 81 00:03:59,320 --> 00:04:02,880 because they're, they're trying to watch the dollars and watch the economy do 82 00:04:02,880 --> 00:04:06,520 what it's going to do while keeping their stockholders happy. 83 00:04:06,880 --> 00:04:11,680 Now that's not to say some wealthy individual or a small startup that has a 84 00:04:11,680 --> 00:04:16,280 big bankroll may not buy, may buy some of these smaller ones you're talking about. 85 00:04:16,280 --> 00:04:18,040 Cause they got a really cool idea. 86 00:04:18,040 --> 00:04:21,200 They want to implement with something, somebody else's IP that they think they 87 00:04:21,200 --> 00:04:22,000 can expand on. 88 00:04:22,000 --> 00:04:23,080 I could see that happening. 89 00:04:23,800 --> 00:04:25,360 Whether that's a success or not. 90 00:04:25,360 --> 00:04:29,080 I can't really speak to it until I see it honestly, or what they're, what they're 91 00:04:29,080 --> 00:04:30,120 planning on doing with it. 92 00:04:30,840 --> 00:04:36,720 I don't see the big boys buying any of the small boys out save maybe Amazon. 93 00:04:36,760 --> 00:04:41,360 Cause regardless of all the cuts and the warehouse closures and the personnel 94 00:04:41,360 --> 00:04:47,280 fire firing, they're always looking to expand and buy even though they're 95 00:04:47,280 --> 00:04:48,600 watching their wallets right now. 96 00:04:49,840 --> 00:04:50,560 Yeah, I agree. 97 00:04:50,560 --> 00:04:54,960 I definitely feel like I could see one of these smaller ones disappear in here 98 00:04:54,960 --> 00:04:56,840 within, within the next year. 99 00:04:56,880 --> 00:04:59,400 Um, it's just, you know, it's just how it is, right? 100 00:04:59,760 --> 00:05:04,080 These, these bigger platforms take more of the share and the other ones go away. 101 00:05:04,440 --> 00:05:07,640 And you could even argue some people only sell on some of these smaller 102 00:05:07,640 --> 00:05:11,640 platforms because they can't sell on the larger platforms for whatever reason. 103 00:05:11,640 --> 00:05:11,840 Right? 104 00:05:11,840 --> 00:05:16,240 Maybe you're banned on eBay or banned on Amazon or both. 105 00:05:16,240 --> 00:05:18,840 So now you have to utilize some of these smaller platforms. 106 00:05:18,840 --> 00:05:23,040 So I don't know what's weird because you never really hear like, at least in my 107 00:05:23,040 --> 00:05:27,040 experience, I never hear of somebody that just as like a Depop seller, right? 108 00:05:27,040 --> 00:05:29,840 They only sell on Depop or McCarrie or Poshmark. 109 00:05:29,840 --> 00:05:32,440 Like I don't, I don't even know if these people exist. 110 00:05:32,440 --> 00:05:33,760 Like do they exist? 111 00:05:33,760 --> 00:05:38,400 Do you know of anybody like that specifically just sells on those platforms alone? 112 00:05:40,080 --> 00:05:45,440 Yes, but they switched to eBay and they may dabble in what they came from, but 113 00:05:45,440 --> 00:05:46,800 they do eBay primarily now. 114 00:05:46,800 --> 00:05:48,080 And I know that from my other group. 115 00:05:48,600 --> 00:05:53,400 Um, but they, they were, I remember Depop specifically, some guy mentioning that, 116 00:05:53,400 --> 00:05:55,600 but he also owned a brick and mortar on top of that. 117 00:05:56,080 --> 00:06:00,840 So I think everybody's looking to always diversify, get a little bit of extra 118 00:06:00,840 --> 00:06:05,920 income in their stuff, but is planning your flag on one of these smaller guys. 119 00:06:05,920 --> 00:06:07,000 That's really hard to do. 120 00:06:07,000 --> 00:06:10,840 I'm not saying it's not doable, but I think you have to roll with some of the 121 00:06:10,840 --> 00:06:16,000 bigger guys in addition to really, really produce. 122 00:06:16,920 --> 00:06:17,200 All right. 123 00:06:17,200 --> 00:06:18,840 So I'm going to blow it up right here for you. 124 00:06:18,840 --> 00:06:22,280 Here goes, here comes the, the new, the nuclear bombs about the head. 125 00:06:22,640 --> 00:06:28,000 Um, what, if there was no cross-listing software, would these smaller platforms exist? 126 00:06:29,240 --> 00:06:30,040 I'm not sure. 127 00:06:30,080 --> 00:06:33,640 Um, I don't think so. 128 00:06:35,280 --> 00:06:40,560 I really don't cause there'd be no incentive to do it on their own with 129 00:06:40,560 --> 00:06:44,040 the amount of foot traffic or virtual traffic they would have. 130 00:06:44,520 --> 00:06:50,200 I think you would need cross-listing to capitalize on the smaller guys, a lot of 131 00:06:50,200 --> 00:06:52,480 ponds, but there's only a couple of big oceans, right? 132 00:06:53,440 --> 00:06:53,760 Yeah. 133 00:06:53,800 --> 00:06:54,120 Yeah. 134 00:06:54,160 --> 00:06:55,000 I think you're right. 135 00:06:55,000 --> 00:07:00,200 I think if cross-listing doesn't exist, I mean, these guys would be probably, 136 00:07:00,640 --> 00:07:05,000 you know, 2% of what, where they're at now when it comes to listing and activity 137 00:07:05,000 --> 00:07:09,800 on these platforms, because everybody sees a smaller platforms as, uh, just 138 00:07:09,800 --> 00:07:11,280 a, it's an afterthought, right? 139 00:07:11,480 --> 00:07:12,480 It cross-lists there. 140 00:07:12,480 --> 00:07:13,360 I don't care about it. 141 00:07:13,360 --> 00:07:14,640 If I get a sale, so be it. 142 00:07:14,640 --> 00:07:17,840 I'll go ship it, but it's not, it's never a priority. 143 00:07:17,840 --> 00:07:21,920 It's always, you know, second or third or fourth down the list for resellers. 144 00:07:22,920 --> 00:07:25,480 Now, if you're a part-time person, I could see beef. 145 00:07:25,800 --> 00:07:29,440 I could see somebody being full-time part-time, if that makes sense at 146 00:07:29,440 --> 00:07:30,880 some of these smaller platforms. 147 00:07:32,400 --> 00:07:32,760 Yeah. 148 00:07:33,000 --> 00:07:33,280 Yeah. 149 00:07:33,280 --> 00:07:35,840 I definitely could see that making, making sense. 150 00:07:35,840 --> 00:07:40,000 Um, I guess, I mean, if you think about it, maybe there is opportunity 151 00:07:40,000 --> 00:07:41,240 on these smaller platforms. 152 00:07:41,240 --> 00:07:44,640 If you specifically only sold, say, Hey, say, you know, I wanted, you 153 00:07:44,640 --> 00:07:48,440 wanted to start doing Depop instead of eBay for your books, there's less 154 00:07:48,440 --> 00:07:52,800 competition, which means you can kind of control the price on that platform. 155 00:07:52,800 --> 00:07:56,480 Even if it's out of line with the actual, you know, how much is actually worth. 156 00:07:57,160 --> 00:08:00,640 You could probably get more if you're the, you know, the only person over there 157 00:08:00,640 --> 00:08:02,320 selling it, it's kind of like Amazon, right? 158 00:08:02,440 --> 00:08:04,200 You get more on Amazon versus eBay. 159 00:08:04,200 --> 00:08:08,000 In most cases, or maybe you could get more on Depop versus eBay. 160 00:08:08,400 --> 00:08:09,840 If the competition is less. 161 00:08:11,400 --> 00:08:14,520 I mean, if you're doing something, I mean, there's something to be said here 162 00:08:14,520 --> 00:08:17,680 for, if you're doing something, everyone's not doing, and you're the only one 163 00:08:18,320 --> 00:08:22,480 doing that thing, yeah, you can make some money for yourself because you're the 164 00:08:22,480 --> 00:08:28,000 only one, um, like if I took my books, even Poshmark, for instance, I think 165 00:08:28,000 --> 00:08:32,040 I could do fairly well, I would list differently and I would list 166 00:08:32,040 --> 00:08:34,480 different kinds of books there, but I could see it. 167 00:08:35,200 --> 00:08:35,560 Yeah. 168 00:08:35,560 --> 00:08:38,280 And I guess then again, you would just run into, you know, people 169 00:08:38,280 --> 00:08:39,520 that just cross list, right? 170 00:08:39,520 --> 00:08:41,520 So, I mean, I guess you can't escape it. 171 00:08:42,360 --> 00:08:45,200 Sorry, you can't go high to Depop and make a whole bunch of money. 172 00:08:45,200 --> 00:08:48,800 Unfortunately, uh, the bigger players are going to be cross listing to every 173 00:08:48,800 --> 00:08:50,360 single platform that we know of. 174 00:08:50,360 --> 00:08:53,680 So, I mean, that's a good topic to start with is market share. 175 00:08:54,080 --> 00:08:57,920 Now we're going to kind of get into the touchy feeling one of probably the one 176 00:08:57,920 --> 00:09:02,800 that's on everybody's mind, because it always is, is do we see fee increases 177 00:09:02,800 --> 00:09:07,840 this year, uh, for what platforms and, you know, how do you, how do you think 178 00:09:07,840 --> 00:09:09,080 they're going to justify it, right? 179 00:09:09,080 --> 00:09:13,280 So we'll, we'll just reference back to last year, you know, Amazon had their 180 00:09:13,280 --> 00:09:19,560 inflation, fuel, gas surcharge, uh, nonsense eBay had the promotional 181 00:09:19,560 --> 00:09:23,520 listing increased by a percent, um, little things like that. 182 00:09:23,880 --> 00:09:27,320 I think, you know, from last year, just to kind of give perspective, I think 183 00:09:27,320 --> 00:09:28,480 it's going to be another year. 184 00:09:29,040 --> 00:09:30,640 The same, if not worse. 185 00:09:30,680 --> 00:09:31,240 What do you think? 186 00:09:32,000 --> 00:09:32,920 Oh yeah, I already felt it. 187 00:09:32,920 --> 00:09:36,680 I mean, stamps went up on Monday from three 49 to three 65. 188 00:09:37,120 --> 00:09:40,400 I mean, it hurts a little bit with my margins. 189 00:09:40,440 --> 00:09:43,000 Uh, I like my margins being bigger, not smaller. 190 00:09:43,360 --> 00:09:46,920 Uh, but yeah, I think all of, I think it's going to be more or less the same. 191 00:09:47,360 --> 00:09:52,800 We might see something new pop up, a new kind of fee on our platforms, eBay and 192 00:09:52,800 --> 00:09:58,080 Amazon, but I expect that to happen, what that comes in as far as percentage 193 00:09:58,080 --> 00:10:04,840 or a dollar amount or a, um, sale amount where they're going to want more or 194 00:10:04,840 --> 00:10:05,760 an international thing. 195 00:10:05,760 --> 00:10:07,680 I don't know what it gets going to be, but it's going to be something. 196 00:10:08,440 --> 00:10:09,160 Yeah, I agree. 197 00:10:09,160 --> 00:10:12,600 I think, I think we're going to see almost across the board increases here. 198 00:10:12,600 --> 00:10:16,240 And it's funny that to be talking about this because, uh, Deb has her, you 199 00:10:16,240 --> 00:10:20,760 know, her Shopify website and they just raised their monthly subscription today. 200 00:10:20,760 --> 00:10:25,080 So, um, she's already seen it already and we're already seeing it with Amazon, 201 00:10:25,080 --> 00:10:25,360 right? 202 00:10:25,400 --> 00:10:30,680 You know, the, the removal fees alone tripled, you know, a week ago. 203 00:10:30,680 --> 00:10:35,320 So we're, we're already feeling it and everything's changing and everybody, I 204 00:10:35,320 --> 00:10:39,600 think these platforms are trying to find not, they're not going to increase, right? 205 00:10:39,600 --> 00:10:43,280 They're not going to say, Hey, your overall fee increase is going to go up 206 00:10:43,280 --> 00:10:45,640 because they don't want to offend anybody, right? 207 00:10:45,640 --> 00:10:49,000 They're not going to say, well, the flat, the final value fee is going to go up. 208 00:10:49,000 --> 00:10:50,840 It's going to be something like you're talking about, right? 209 00:10:50,840 --> 00:10:56,560 Where, well, if the items under $25, there's a 3% fee, but if it's over $25, 210 00:10:56,560 --> 00:11:00,000 then it's only a two and a half percent fee, like something like that. 211 00:11:00,000 --> 00:11:02,480 It's not going to be a blatant across the board thing. 212 00:11:02,480 --> 00:11:04,560 It's going to be something they slide in under there. 213 00:11:04,960 --> 00:11:08,280 So they don't take the hit of like, Oh my God, we're raising fees. 214 00:11:08,280 --> 00:11:12,600 They want to kind of spin it so that it's not really a completely negative thing. 215 00:11:14,200 --> 00:11:15,800 Well, yeah, they're always going to want to spin it. 216 00:11:15,800 --> 00:11:17,240 They're going to, they're going to preach. 217 00:11:17,240 --> 00:11:19,320 It's going to be better for personnel. 218 00:11:19,320 --> 00:11:21,120 It's going to be better for workflow. 219 00:11:21,120 --> 00:11:23,960 It's going to be better to the end user. 220 00:11:23,960 --> 00:11:25,920 It's going to be better, which is the customers. 221 00:11:25,920 --> 00:11:27,640 It's going to be better for the sellers. 222 00:11:28,640 --> 00:11:31,440 They're always trying to spin it into some positive light. 223 00:11:32,360 --> 00:11:37,720 Do I think they're justified in saying so and that it's an untrue statement? 224 00:11:37,720 --> 00:11:38,480 Debatable. 225 00:11:39,720 --> 00:11:41,840 I understand they need to make money too. 226 00:11:41,840 --> 00:11:44,680 They are a business and they have to account for inflation, just like we have 227 00:11:44,680 --> 00:11:48,280 to account for inflation or junk economy. 228 00:11:50,920 --> 00:11:51,440 I don't know. 229 00:11:51,440 --> 00:11:55,080 I would say they're fair to do so because it is their business. 230 00:11:55,080 --> 00:11:57,360 They need to write how they see fit. 231 00:11:57,880 --> 00:11:59,840 Do I think they're being extra greedy with it? 232 00:11:59,840 --> 00:12:03,800 Not so much because usually they're really small and the fees are, and we, we 233 00:12:03,800 --> 00:12:05,840 as the seller adjust for that on our end. 234 00:12:06,880 --> 00:12:11,640 Can you agree that these platforms don't care if sellers leave their 235 00:12:11,640 --> 00:12:15,520 platforms because of these fee increases? 236 00:12:15,960 --> 00:12:16,600 Absolutely not. 237 00:12:16,600 --> 00:12:17,520 Where else are they going to go? 238 00:12:18,560 --> 00:12:18,840 Yeah. 239 00:12:19,200 --> 00:12:23,880 So they don't care about your feelings or, you know, if you feel like closing up 240 00:12:23,880 --> 00:12:29,720 shop because Amazon decided to raise their fees 5% for, you know, whatever crazy 241 00:12:29,720 --> 00:12:32,760 reason they want to buy the employees ice cream every day or something, right? 242 00:12:33,040 --> 00:12:36,360 I don't care if you say, all right, well then I'm not selling here no more. 243 00:12:36,360 --> 00:12:39,400 They'll, they just figure, well, if you're not going to somebody else, 244 00:12:39,400 --> 00:12:42,920 I'll come along and do it, and I think that's the hard truth that, you know, 245 00:12:42,920 --> 00:12:44,520 a lot of resellers don't want to accept. 246 00:12:44,520 --> 00:12:48,080 Like they really, you know, you're not valued on these platforms. 247 00:12:48,480 --> 00:12:50,280 They don't care if you go away today. 248 00:12:50,880 --> 00:12:53,200 It's equivalent of taking my ball and going home. 249 00:12:53,760 --> 00:12:56,200 It's like, okay, the people that stay, they're just going to get 250 00:12:56,200 --> 00:12:57,240 another ball, they don't care. 251 00:12:57,760 --> 00:12:58,080 Yeah. 252 00:12:58,120 --> 00:12:58,440 Yeah. 253 00:12:58,440 --> 00:13:01,240 It's, uh, it's, it's tough to think about, right? 254 00:13:01,240 --> 00:13:04,280 Because, you know, a lot of us, a lot of resellers, they're doing it full-time 255 00:13:04,640 --> 00:13:08,120 kind of left jobs that didn't care about us, but here we are on platforms 256 00:13:08,120 --> 00:13:09,480 that don't care about us, right? 257 00:13:09,480 --> 00:13:12,920 And it's one of those things where one day you can show up and, you know, 258 00:13:12,920 --> 00:13:16,120 your account's banned for some, some crazy reason, or, you know, 259 00:13:16,120 --> 00:13:19,880 you're fired from your job or it's the same thing, just in a different kind 260 00:13:19,880 --> 00:13:21,240 of, kind of mine, right? 261 00:13:21,240 --> 00:13:25,080 You're, you're your own boss, but you're not really your own boss because if 262 00:13:25,080 --> 00:13:26,760 you don't have your platforms, you got nothing. 263 00:13:27,720 --> 00:13:28,040 Right. 264 00:13:28,040 --> 00:13:33,000 It's like, uh, the thing that attaches to a shark and feeds off the little 265 00:13:33,320 --> 00:13:34,600 parasite analogy, right? 266 00:13:34,600 --> 00:13:35,320 That's what we are. 267 00:13:35,720 --> 00:13:36,440 Shark don't care. 268 00:13:36,440 --> 00:13:37,080 Yeah. 269 00:13:37,080 --> 00:13:40,520 So it's weird to think about, but we both agree there's going to be increases 270 00:13:40,520 --> 00:13:45,720 across the board here and you know, every time shipping goes up, it's a, it's a 271 00:13:45,720 --> 00:13:48,600 fee increase because well, oh, well, I charge for shipping. 272 00:13:48,600 --> 00:13:51,640 Well, you still got to pay fees out of your shipping total. 273 00:13:51,640 --> 00:13:55,240 So, I mean, you're not, you're not escaping shipping increases by 274 00:13:55,240 --> 00:13:56,360 charging for shipping. 275 00:13:56,360 --> 00:13:57,480 I hate to break it to you. 276 00:13:58,200 --> 00:14:03,000 Going up, if you're renting a storage unit or a warehouse or you're leasing 277 00:14:03,000 --> 00:14:07,640 or, uh, the water bill going up, your electric bill going out, I mean, this 278 00:14:07,640 --> 00:14:08,760 is just par for the course. 279 00:14:09,560 --> 00:14:09,800 All right. 280 00:14:09,800 --> 00:14:11,400 Well, that can roll us right into the next thing. 281 00:14:11,400 --> 00:14:14,440 What kind of reselling expenses are we going to see go up? 282 00:14:14,440 --> 00:14:15,640 We already said storage unit. 283 00:14:15,640 --> 00:14:17,800 I already said mine, mine already went up 10 bucks. 284 00:14:17,800 --> 00:14:23,080 So I went from $92 for a 10 by 10 to $102, which is still cheap for me. 285 00:14:23,320 --> 00:14:26,360 So I'm, yeah, I'm, I'm, I'm not worried about that. 286 00:14:26,360 --> 00:14:29,640 It's still way under what the market price was when I was looking, but like 287 00:14:29,640 --> 00:14:33,080 you said, you know, it's going to keep going up here. 288 00:14:33,080 --> 00:14:37,000 So that's one thing if you have to, to worry about if you have an outside or, 289 00:14:37,000 --> 00:14:40,200 you know, if you have somewhere beside your home that you're working from. 290 00:14:40,680 --> 00:14:43,240 Those, those costs are always going to go up. 291 00:14:43,240 --> 00:14:47,400 I'm trying to think of like, oh, well, you know, your supplies, right? 292 00:14:47,400 --> 00:14:49,000 Your supplies, everything goes up. 293 00:14:49,000 --> 00:14:51,640 If you, you can't tell you how many times you go back to order something 294 00:14:51,640 --> 00:14:55,400 on Amazon and you're like, wait a minute, I didn't pay this much last time I 295 00:14:55,400 --> 00:14:57,480 ordered this and it goes up five bucks. 296 00:14:57,480 --> 00:14:58,760 You know, that could be every two weeks. 297 00:14:58,760 --> 00:15:00,680 Every month, everything keeps going. 298 00:15:00,680 --> 00:15:04,200 You have anything that like kind of jumps out at you that you bought. 299 00:15:04,200 --> 00:15:07,000 And the next time you went to buy it, you were like, wait a minute, this is way 300 00:15:07,000 --> 00:15:08,280 out of line from what I paid. 301 00:15:09,480 --> 00:15:09,960 Yeah. 302 00:15:09,960 --> 00:15:14,360 I mean, um, what hack news you materials, I had to give you line a phone call. 303 00:15:14,360 --> 00:15:15,160 I'll use you line. 304 00:15:15,160 --> 00:15:16,840 I'm sorry, people who don't use you line. 305 00:15:17,080 --> 00:15:21,400 I know I'm spending in premium, uh, but I had to call them like, okay, look guys, 306 00:15:22,200 --> 00:15:25,880 how much volume do I have to buy before I get started getting a discount that 307 00:15:25,880 --> 00:15:30,920 isn't displayed on you because you only go up so much now and they took me 308 00:15:30,920 --> 00:15:36,920 seriously and they phoned me upstairs and guy gave me a quote over the phone. 309 00:15:36,920 --> 00:15:40,520 Um, and it's a lot of units, but they will do deeper discounts. 310 00:15:41,160 --> 00:15:45,000 Um, because I saw their prices go up marginally. 311 00:15:45,000 --> 00:15:49,720 So, but you compound that by a lot of purchases or a lot of units. 312 00:15:49,720 --> 00:15:51,320 It adds up fairly quickly. 313 00:15:51,320 --> 00:15:55,480 And even if you're talking like a dollar off or $2,000, you're 314 00:15:55,480 --> 00:15:57,000 $2 off or $5. 315 00:15:57,000 --> 00:15:57,800 It really adds up. 316 00:15:58,440 --> 00:16:00,840 My stickers that I put on my envelopes, those went up. 317 00:16:00,840 --> 00:16:05,080 I think it went from two to three cents, uh, each, but when you're buying, 318 00:16:05,080 --> 00:16:07,560 I mean, units of 5,000, it adds up. 319 00:16:08,360 --> 00:16:11,320 It's a 30% increase, right? 320 00:16:11,320 --> 00:16:12,840 I mean, we're talking pennies here, but still. 321 00:16:13,400 --> 00:16:13,640 Yeah. 322 00:16:13,640 --> 00:16:17,080 I mean, I mean, that was the same way when she's buying business cards and 323 00:16:17,080 --> 00:16:20,200 everything, you know, you, she's sitting there in Vista print and she's like, 324 00:16:20,200 --> 00:16:24,120 well, if I buy two, if I buy 2000, it's six cents a piece. 325 00:16:24,120 --> 00:16:26,920 If I buy 5,000, it's three cents a piece. 326 00:16:26,920 --> 00:16:27,720 And yeah. 327 00:16:27,720 --> 00:16:28,040 Okay. 328 00:16:29,000 --> 00:16:32,280 People out there listening are probably like, who cares about three cents, 329 00:16:32,280 --> 00:16:34,440 Johnny B. You're worried about three cents. 330 00:16:34,440 --> 00:16:35,960 I'm always worried about three cents. 331 00:16:35,960 --> 00:16:37,960 Three cents compounded. 332 00:16:37,960 --> 00:16:40,760 It's going to equal a nice, it's going to equal a nice little chunk of money 333 00:16:40,760 --> 00:16:41,880 that you wish you had. 334 00:16:41,880 --> 00:16:45,480 And if you compound that to all the different, you know, supplies you need 335 00:16:45,480 --> 00:16:49,160 as a reseller, you know, you're talking hundreds, thousands of dollars here, 336 00:16:49,160 --> 00:16:51,000 especially if you're doing this full-time. 337 00:16:51,000 --> 00:16:53,880 And just because you're doing it part-time doesn't mean you have to, 338 00:16:53,880 --> 00:16:56,840 you know, you shouldn't be worried about your expense costs. 339 00:16:56,840 --> 00:16:59,800 I think it's, you know, it's just as important as anything else. 340 00:16:59,800 --> 00:17:02,440 Why am I going to pay more for poly bags or something like that? 341 00:17:02,440 --> 00:17:05,400 If you don't got it, you're just being lazy and clicking on the first thing 342 00:17:05,400 --> 00:17:06,360 you see on the website. 343 00:17:07,240 --> 00:17:07,800 Right. 344 00:17:07,800 --> 00:17:09,720 I mean, let's put it a different way. 345 00:17:09,720 --> 00:17:12,920 If I went into your bank account at the end of year and took out a thousand 346 00:17:12,920 --> 00:17:14,440 dollars, you'd be upset. 347 00:17:15,480 --> 00:17:15,980 Anybody. 348 00:17:16,840 --> 00:17:17,560 Yeah. 349 00:17:17,560 --> 00:17:19,800 I mean, if thousand dollars doesn't mean anything to you, I don't know 350 00:17:19,800 --> 00:17:23,000 why you're watching this podcast, but most of us would be upset if thousand 351 00:17:23,000 --> 00:17:24,520 dollars was just stolen from you. 352 00:17:25,400 --> 00:17:26,280 Software. 353 00:17:26,280 --> 00:17:27,160 That's another thing. 354 00:17:27,720 --> 00:17:30,920 Reselling, a huge reselling expense, especially in the Amazon world. 355 00:17:31,960 --> 00:17:33,800 The eBay world, not so much. 356 00:17:33,800 --> 00:17:35,720 I mean, there are different things you can have. 357 00:17:36,440 --> 00:17:38,680 There's description to the store subscription. 358 00:17:38,680 --> 00:17:39,640 Oh, yeah, that is true. 359 00:17:39,640 --> 00:17:39,880 Yeah. 360 00:17:39,880 --> 00:17:44,520 So I mean, Amazon is not going to move their professional plan. 361 00:17:44,520 --> 00:17:45,480 $39.99. 362 00:17:45,480 --> 00:17:46,280 I don't see that. 363 00:17:46,280 --> 00:17:50,840 I think that stays there because they're raising it in other inconspicuous ways. 364 00:17:50,840 --> 00:17:51,960 They're not worried about that. 365 00:17:51,960 --> 00:17:53,560 I don't need to raise that. 366 00:17:53,560 --> 00:17:54,840 They can raise the other ones. 367 00:17:55,640 --> 00:17:57,960 I think we could almost say the same for eBay, right? 368 00:17:57,960 --> 00:18:01,480 They're not going to touch that subscription fee for the store levels. 369 00:18:02,120 --> 00:18:02,760 Yeah. 370 00:18:02,760 --> 00:18:07,160 I don't see either one touching the store fee itself because they want 371 00:18:07,160 --> 00:18:11,160 more users to come and they'll pocket a hundred dollar store subscription 372 00:18:11,160 --> 00:18:12,760 versus a $40 subscription. 373 00:18:13,800 --> 00:18:15,560 Like you said, they'll make up for it in other ways. 374 00:18:15,560 --> 00:18:16,680 It's little small fees. 375 00:18:16,680 --> 00:18:18,520 They don't think people will notice, but they add up. 376 00:18:19,000 --> 00:18:19,560 Oh, yeah. 377 00:18:19,560 --> 00:18:19,880 Yeah. 378 00:18:19,880 --> 00:18:25,240 So I think those will stay the same, but software for Amazon, the software. 379 00:18:25,240 --> 00:18:29,000 Listen, if you're selling on Amazon or you're thinking about selling on Amazon, 380 00:18:29,000 --> 00:18:31,800 do not get caught up in this software chaos. 381 00:18:31,800 --> 00:18:35,640 I mean, if we had a list of how many, like how many different 382 00:18:35,640 --> 00:18:37,960 softwares do you think there are for Amazon sellers? 383 00:18:37,960 --> 00:18:40,760 If you had a list of every single one, it's got to be at least a thousand. 384 00:18:41,800 --> 00:18:46,680 Reprice it or the entire list of overall everything that's out there. 385 00:18:47,560 --> 00:18:49,080 I think a thousand is a fair number. 386 00:18:49,080 --> 00:18:50,040 Maybe even more. 387 00:18:51,000 --> 00:18:53,800 I think it might be more, but I don't want to sound too much like a lunatic. 388 00:18:54,520 --> 00:18:56,280 There's so many like third party guys. 389 00:18:56,280 --> 00:18:58,200 My tool could do one thing, be better. 390 00:18:58,200 --> 00:19:00,680 My tool has a better AI than this guy's AI. 391 00:19:02,520 --> 00:19:02,840 Okay. 392 00:19:03,560 --> 00:19:04,360 It's a lot. 393 00:19:04,360 --> 00:19:07,160 I feel like you can easily get lost in all this software. 394 00:19:07,160 --> 00:19:10,120 I was trying to look up like specifically the AI stuff. 395 00:19:11,240 --> 00:19:12,200 It's nonsense. 396 00:19:12,200 --> 00:19:13,400 All of it's nonsense. 397 00:19:15,000 --> 00:19:16,440 There's so much of it, right? 398 00:19:16,440 --> 00:19:20,200 It's like, I mean, and they even have almost like the same names. 399 00:19:20,200 --> 00:19:22,200 It's like one letter is different or something. 400 00:19:22,200 --> 00:19:25,720 It's like, I mean, look at Scout IQ and Scout Lee. 401 00:19:25,720 --> 00:19:27,080 They sound the same even. 402 00:19:28,200 --> 00:19:29,080 And they look the same. 403 00:19:29,080 --> 00:19:31,000 If you use both of these, they look the same. 404 00:19:31,720 --> 00:19:36,440 It's literally carbon copies of each other, basically with a little bit of different features. 405 00:19:37,240 --> 00:19:40,600 But yeah, software on Amazon is brutal and there's so much of it. 406 00:19:40,600 --> 00:19:44,760 And I mean, inventory labs increased late last year to, you know, 407 00:19:44,760 --> 00:19:46,200 a much higher price. 408 00:19:46,200 --> 00:19:52,920 I feel like, you know, I use ScanLister and that's the cheapest listing software at 24 bucks a month. 409 00:19:52,920 --> 00:19:57,400 But I feel like they could easily raise that to $30 a month because all the list. 410 00:19:57,960 --> 00:19:58,280 Yeah. 411 00:19:58,280 --> 00:20:01,320 All the listing software is much more expensive than that. 412 00:20:01,320 --> 00:20:06,600 So I think if you keep your subs under $50 starting out, you're fine. 413 00:20:06,600 --> 00:20:11,560 It's fine to have higher tiers, but if you're under 50 or under, I think people will pay it. 414 00:20:11,560 --> 00:20:11,960 I do. 415 00:20:11,960 --> 00:20:14,360 I agree. 416 00:20:14,360 --> 00:20:19,720 They'll pay it because a lot of resellers don't know their numbers and they really don't look at a P&L overall. 417 00:20:19,720 --> 00:20:20,840 They just look at their sales. 418 00:20:20,840 --> 00:20:25,560 They don't see the backend, you know, PayPal coming out every month for your repricer and everything else. 419 00:20:26,360 --> 00:20:29,160 But I think a lot of it's just, you don't need it. 420 00:20:29,160 --> 00:20:32,680 Honestly, I think you don't need, especially what we do with media. 421 00:20:32,680 --> 00:20:35,160 I don't think you need 99. 422 00:20:35,160 --> 00:20:38,520 You can even take it old school like when I started or when you started. 423 00:20:38,520 --> 00:20:40,600 I mean, we didn't have, you were going down the thing. 424 00:20:40,600 --> 00:20:44,040 If you're a part-time guy, you can go down the thing and reprice your stuff. 425 00:20:44,040 --> 00:20:47,480 If you're under 500 units, I think you can manually do it still. 426 00:20:47,480 --> 00:20:51,560 It's a little time-sink, but I think you're better off financially, not spending for 427 00:20:52,440 --> 00:20:56,920 software upgrades unnecessarily until you're past a certain number where it's unmanageable. 428 00:20:57,960 --> 00:20:58,520 Yeah. 429 00:20:58,520 --> 00:21:02,920 I mean, reprice it, you know, at 10 bucks a month to start out as a steal. 430 00:21:02,920 --> 00:21:04,760 Like I could see them raising that for sure. 431 00:21:06,120 --> 00:21:08,120 And it should be at least 20 bucks in my opinion, but shhh. 432 00:21:08,120 --> 00:21:14,840 We're just talking, we're just gassing all these companies to raise all their fees and 433 00:21:14,840 --> 00:21:15,640 subscription costs. 434 00:21:15,640 --> 00:21:20,760 But I do think the Amazon world, you have to be wary of your subscription cost overall. 435 00:21:20,760 --> 00:21:21,640 Be smart about it. 436 00:21:21,640 --> 00:21:23,080 You don't need all the bells and whistles. 437 00:21:23,080 --> 00:21:24,360 You just need something that works. 438 00:21:24,360 --> 00:21:29,240 I can't caught up with all the nonsense because, you know, the used book guy is using the most 439 00:21:29,240 --> 00:21:30,200 expensive software. 440 00:21:30,200 --> 00:21:33,000 So I have to use it too, or I am nobody. 441 00:21:33,000 --> 00:21:34,040 That's not the case at all. 442 00:21:34,040 --> 00:21:37,720 Be smarter than everybody out there should be trying to be smarter than me and cheaper 443 00:21:37,720 --> 00:21:38,040 than me. 444 00:21:38,040 --> 00:21:39,640 Although good luck because I'm a cheapo. 445 00:21:40,280 --> 00:21:45,480 I mean, even look at, no offense, Mike, but your subscription and I'm not, I only not 446 00:21:45,480 --> 00:21:50,360 only pay you, I pay the daily refining group and that's just me calling the breaks there. 447 00:21:50,360 --> 00:21:53,480 I could join a whole bunch of other groups and pay me paying. 448 00:21:53,480 --> 00:21:56,680 I don't know, a boatload of educational material, IRS. 449 00:21:58,920 --> 00:22:03,160 If you join every YouTube reselling channel that had like a discord that you had to pay 450 00:22:03,160 --> 00:22:07,640 for something like you'd probably have like a thousand dollar bill every month. 451 00:22:07,640 --> 00:22:12,760 I mean, between you and them, I'm close to 40 bucks a month and just the group fees. 452 00:22:12,760 --> 00:22:14,360 And that's just another subscription, right? 453 00:22:14,360 --> 00:22:15,320 I mean, I can write it off. 454 00:22:15,320 --> 00:22:16,760 It was educational, but yeah. 455 00:22:19,160 --> 00:22:19,400 Yeah. 456 00:22:19,400 --> 00:22:23,480 I mean, it all adds up, but if you, if you raised yours or refinement raised theirs to 457 00:22:23,480 --> 00:22:25,640 $50 a month, I still pay it. 458 00:22:25,640 --> 00:22:26,760 More people would still pay it. 459 00:22:27,560 --> 00:22:28,360 All right. 460 00:22:28,360 --> 00:22:29,400 The fees going up. 461 00:22:30,680 --> 00:22:31,960 You heard it here, folks. 462 00:22:31,960 --> 00:22:35,960 59.99 to be part of the use book guy group. 463 00:22:35,960 --> 00:22:36,520 Yeah. 464 00:22:36,520 --> 00:22:41,000 I think, I mean, I'm not going to sit here and say a higher cost is necessarily a bad 465 00:22:41,000 --> 00:22:41,480 thing, right? 466 00:22:41,480 --> 00:22:42,920 If you have a better program, right? 467 00:22:42,920 --> 00:22:46,760 If you've got a better program than me, then you should be charged in double the membership 468 00:22:46,760 --> 00:22:50,680 costs that I have because yours is better in different ways, but it has to be something 469 00:22:50,680 --> 00:22:52,360 that's measurable, right? 470 00:22:52,360 --> 00:22:54,520 You just can't sit here and say, Oh, I'm better than him. 471 00:22:54,520 --> 00:22:54,840 Right? 472 00:22:54,840 --> 00:22:55,480 Who cares? 473 00:22:56,040 --> 00:22:58,760 Mike adds one new emoji to discord a month. 474 00:22:58,760 --> 00:22:59,800 That's what you're paying for. 475 00:22:59,800 --> 00:23:04,040 Like, it's gotta be something that's measurable to your business just because, you know, 476 00:23:04,040 --> 00:23:07,320 someone says it's better than, you know, that nobody cares about that. 477 00:23:07,320 --> 00:23:07,560 Right. 478 00:23:07,560 --> 00:23:11,400 It's a, but people do and people, you know, they, they jump right in, but I do think there 479 00:23:11,400 --> 00:23:12,360 is a premium, right? 480 00:23:12,360 --> 00:23:14,520 We'll kind of use inventory labs. 481 00:23:14,520 --> 00:23:18,120 I mean, I'll say, you know, it's the best listing software out there. 482 00:23:18,120 --> 00:23:22,600 It's the cleanest, most functional that at least I've used three different ones and that 483 00:23:22,600 --> 00:23:26,920 was the best one to me, but I'm not willing to pay three times what I pay just to have 484 00:23:26,920 --> 00:23:30,200 their fancy, nice software when it works the same as the one I have. 485 00:23:30,200 --> 00:23:31,960 I think I'm going to stick with them. 486 00:23:31,960 --> 00:23:34,360 But I agree with everything you just said. 487 00:23:34,360 --> 00:23:39,160 I don't need to, but I like the way it looks and uses and it's slick. 488 00:23:39,160 --> 00:23:39,320 Yeah. 489 00:23:39,320 --> 00:23:40,840 I prefer it. 490 00:23:40,840 --> 00:23:42,200 So I'll pay up for it. 491 00:23:42,200 --> 00:23:45,960 That's, that's my splurge on myself and splurging on my software a little bit. 492 00:23:45,960 --> 00:23:49,000 And that's what you think until I run the numbers for the year. 493 00:23:49,000 --> 00:23:51,400 And then I'm going to sit down and show you how to use scanlister and you're going to 494 00:23:51,400 --> 00:23:53,880 say, wait, this can save me $600. 495 00:23:53,880 --> 00:23:54,360 All right. 496 00:23:54,360 --> 00:23:54,840 I'm in. 497 00:23:54,840 --> 00:23:57,480 But it takes me 600 hours more time. 498 00:23:57,480 --> 00:23:59,480 It's not that bad. 499 00:23:59,480 --> 00:24:00,120 All right. 500 00:24:00,120 --> 00:24:01,400 I mean, come on. 501 00:24:01,400 --> 00:24:06,440 I'm not saying it's that bad, but that would be my counter argument to your financial argument. 502 00:24:06,440 --> 00:24:11,080 So software, there's a high probability software costs are going to go up this year as well. 503 00:24:11,080 --> 00:24:11,560 Right. 504 00:24:11,560 --> 00:24:13,480 And it's just, it's one of another one of those things. 505 00:24:13,480 --> 00:24:17,160 I mean, can we sit here and say anything is going to go down across the board? 506 00:24:17,160 --> 00:24:19,320 Do you have anything in mind that might go down? 507 00:24:21,080 --> 00:24:22,440 Financially, good question. 508 00:24:22,440 --> 00:24:25,240 Financially going down. 509 00:24:25,240 --> 00:24:26,440 What can I see there? 510 00:24:28,440 --> 00:24:29,560 Excluding sales. 511 00:24:31,560 --> 00:24:33,720 Not going to count those or limited time offers. 512 00:24:33,720 --> 00:24:34,600 Not going to count those. 513 00:24:39,320 --> 00:24:47,400 I think our sourcing might go down the buy cost, but not for the first six months. 514 00:24:47,400 --> 00:24:50,120 I'm going to say the last half of the year, we're going to see it go down, 515 00:24:50,120 --> 00:24:52,520 but we're going to see it go up before it goes down. 516 00:24:52,520 --> 00:24:55,240 And when I mean goes down, it goes back to what it is today. 517 00:24:55,240 --> 00:24:57,320 Because they're going to get, like I said, they're going to raise it 518 00:24:57,320 --> 00:24:58,360 and then they're going to go down. 519 00:24:59,080 --> 00:25:00,360 I kind of agree with this. 520 00:25:00,360 --> 00:25:06,360 And I kind of been hitting at it here and there the past month or two is that cash is king. 521 00:25:06,360 --> 00:25:06,600 Right. 522 00:25:06,600 --> 00:25:12,280 Especially now because cash is, it's not worth as much, but people need it more than they ever had. 523 00:25:12,280 --> 00:25:15,720 So you can leverage your cash to get a lower price. 524 00:25:15,720 --> 00:25:18,520 In my opinion, especially with media. 525 00:25:18,520 --> 00:25:24,760 If you say, hey, I pay 10 cents per DVD and I have plenty of people reach out and it's not junk. 526 00:25:24,760 --> 00:25:26,680 It's their collections that they want to get rid of. 527 00:25:27,240 --> 00:25:33,240 So that right there just goes to show that people sometimes just need money. 528 00:25:33,240 --> 00:25:39,560 And if you have it, you can get a better bargain than going to a thrift store or something like that. 529 00:25:39,560 --> 00:25:45,160 So I do think buy costs, I really think there's no floor to buy costs until it's zero, 530 00:25:45,160 --> 00:25:49,240 because that's the end game where you get inventory for nothing. 531 00:25:49,240 --> 00:25:53,960 And if you're paying thrift store prices, then you got to start thinking outside the box 532 00:25:53,960 --> 00:25:57,480 because thrift store prices, I don't see them coming back down ever. 533 00:25:57,480 --> 00:26:00,360 Goodwill is never going to have books again at 99 cents. 534 00:26:00,920 --> 00:26:02,920 I think poor old mom and pops will. 535 00:26:02,920 --> 00:26:06,200 And I think the estate sales will and I think the auctions will. 536 00:26:06,200 --> 00:26:12,760 But as far as thrifts, nah, if anything, I still say they would go up minus their deals they do. 537 00:26:12,760 --> 00:26:17,960 They may dip a little bit for Q4, but on average, they're always going to go up. 538 00:26:18,920 --> 00:26:19,800 Yeah, I agree. 539 00:26:19,800 --> 00:26:25,560 So, I mean, buy cost is definitely something where you can leverage your cash or quantity, right? 540 00:26:25,560 --> 00:26:29,880 If you're willing to buy a whole bunch, then you should be getting a steep bargain. 541 00:26:29,880 --> 00:26:33,720 That's just the way business works and has worked since the beginning of time. 542 00:26:33,720 --> 00:26:38,120 So if somebody says, yeah, I have a bunch and they're a dollar a piece, 543 00:26:38,120 --> 00:26:41,960 well, you say, well, if I'm taking all 5,000 of them, then I'm paying a quarter a piece 544 00:26:41,960 --> 00:26:43,080 and take it or leave it, right? 545 00:26:43,880 --> 00:26:47,880 You got to kind of stand firm with some of these things you run into as a reseller, 546 00:26:47,880 --> 00:26:49,560 especially when it comes to buying in bulk. 547 00:26:49,560 --> 00:26:52,120 Don't let yourself get pushed around. 548 00:26:53,240 --> 00:26:57,240 So I'll give you a perfect point of being not necessarily pushed around, 549 00:26:57,240 --> 00:26:58,680 just good deals striking. 550 00:26:58,680 --> 00:27:00,600 I did a garage sale a couple of years ago. 551 00:27:00,600 --> 00:27:05,080 I had something that I had a $200 ticket on, I think, with some antique furniture thing. 552 00:27:05,080 --> 00:27:08,840 Anyway, guy walks up to me, offers me $100, pulls out his wallet, 553 00:27:08,840 --> 00:27:10,360 and it's not a $100 bill. 554 00:27:10,360 --> 00:27:13,000 It's like fives, ones, tens, et cetera. 555 00:27:13,000 --> 00:27:14,760 He says, pay attention, folks. 556 00:27:14,760 --> 00:27:17,960 Pay attention to what's about to happen if you already know what's about to happen. 557 00:27:17,960 --> 00:27:20,120 He's like, I'll give you all the cash in my hand right now. 558 00:27:20,120 --> 00:27:21,720 I'll give you $100 right now. 559 00:27:21,720 --> 00:27:22,680 This is all I have. 560 00:27:22,680 --> 00:27:23,960 You've emptied my wallet. 561 00:27:23,960 --> 00:27:26,040 I'm like, or I walk away. 562 00:27:26,040 --> 00:27:28,600 I'm like, I'll take your $100. 563 00:27:28,600 --> 00:27:28,920 Sure. 564 00:27:29,480 --> 00:27:30,120 He played me. 565 00:27:31,160 --> 00:27:32,680 I didn't think about it until after the fact. 566 00:27:32,680 --> 00:27:34,360 And this is before I was really, really a seller. 567 00:27:34,360 --> 00:27:37,640 But retroactively thinking about it, he totally played me. 568 00:27:37,640 --> 00:27:40,360 And to Mike's point, cash is king. 569 00:27:41,320 --> 00:27:44,600 So I mean, maybe that's what I got to do. 570 00:27:44,600 --> 00:27:46,600 I go in with a wad of ones. 571 00:27:46,600 --> 00:27:47,800 And I'm like, this is what I got. 572 00:27:48,600 --> 00:27:49,480 Take it or leave it. 573 00:27:49,480 --> 00:27:52,440 And I really got a back pocket full of 20s. 574 00:27:53,000 --> 00:27:53,320 Right? 575 00:27:53,960 --> 00:27:55,480 You got two pockets, right, Mike? 576 00:27:55,480 --> 00:27:58,520 You got your real money, and then you got your bargaining money. 577 00:27:59,080 --> 00:27:59,560 Yeah. 578 00:27:59,560 --> 00:28:02,680 That's just, you know, you got swashbuckled, buddy. 579 00:28:02,680 --> 00:28:03,640 You're going to do it. 580 00:28:03,640 --> 00:28:03,880 I did. 581 00:28:03,880 --> 00:28:04,600 Paul did it. 582 00:28:04,600 --> 00:28:05,560 He took me. 583 00:28:05,560 --> 00:28:08,360 I still got $100, but whatever. 584 00:28:08,360 --> 00:28:09,400 Learning experience. 585 00:28:09,400 --> 00:28:14,120 So yeah, I mean, buy cost is going to go up when it comes to thrift stores. 586 00:28:14,120 --> 00:28:17,480 But you should always be looking for a way to get your buy cost down, whether that's, 587 00:28:17,480 --> 00:28:21,400 you know, backroom access, buying everything at once. 588 00:28:21,400 --> 00:28:23,000 There's a million different ways. 589 00:28:23,000 --> 00:28:27,480 I get tired of, you know, seeing people complain, oh, thrift store prices are going up. 590 00:28:27,480 --> 00:28:30,120 Well, what are you doing besides thrift stores, right? 591 00:28:30,120 --> 00:28:36,440 I mean, if I had to rely on this business between Salvation Army and Goodwill, 592 00:28:36,440 --> 00:28:37,640 my business wouldn't exist. 593 00:28:38,360 --> 00:28:40,040 It'd be too hard and too expensive. 594 00:28:41,080 --> 00:28:45,320 I mean, we all know the Benz campers, they still get marginally good deals 595 00:28:45,320 --> 00:28:47,480 because they pay by weight, essentially, right? 596 00:28:47,480 --> 00:28:52,600 But how often do you see the Benz shopper go into the actual thrift part of the store 597 00:28:52,600 --> 00:28:54,040 or to a thrift in general? 598 00:28:54,040 --> 00:28:56,200 They're at the Benz because that's where the better deals are. 599 00:28:57,720 --> 00:28:58,040 Do you? 600 00:28:58,040 --> 00:28:58,920 Do you? 601 00:28:58,920 --> 00:28:59,720 Go ahead. 602 00:28:59,720 --> 00:29:02,920 Do you think like those people though, right? 603 00:29:02,920 --> 00:29:04,280 We kind of came to the conclusion. 604 00:29:04,280 --> 00:29:06,760 A lot of them are just like middlemen kind of, right? 605 00:29:06,760 --> 00:29:09,800 They just grab stuff that they know somebody else wants and kind of 606 00:29:10,680 --> 00:29:12,600 five extra money and give it to somebody else. 607 00:29:12,600 --> 00:29:17,800 Or do you think those people actually sit there all day, go home and enlist it all night? 608 00:29:19,480 --> 00:29:20,200 I think there's both. 609 00:29:20,200 --> 00:29:23,000 I think it's a mixed bag at the moment, but there's definitely some of those people 610 00:29:23,000 --> 00:29:24,520 are employees to a bigger seller. 611 00:29:24,520 --> 00:29:27,880 They're paid to go there and get the stuff and they've been trained to know what to get 612 00:29:27,880 --> 00:29:35,720 or the other type where they're trying to do the solo op kind of thing. 613 00:29:35,720 --> 00:29:39,160 And they got to compete with all the armies of all the other little people 614 00:29:39,160 --> 00:29:43,080 who are paid hourly to be there, not take it home and enlist it and make some money. 615 00:29:44,440 --> 00:29:45,000 All right. 616 00:29:45,000 --> 00:29:46,680 Now we're going to jump into another one. 617 00:29:46,680 --> 00:29:48,760 That's probably like a lot of people were thinking about. 618 00:29:48,760 --> 00:29:54,360 Do you think sales are going to be up overall across the board on, you know, 619 00:29:54,360 --> 00:29:55,560 resale platforms, you know? 620 00:29:55,560 --> 00:29:59,240 You think eBay is going to make more money this year than they did last year, 621 00:29:59,240 --> 00:30:01,800 sell more items than they this year than they did last year. 622 00:30:02,600 --> 00:30:07,000 The platform itself, not individual sellers is what platform itself overall platform. 623 00:30:07,720 --> 00:30:11,640 No, I think sales are going to be down across the board for all platforms. 624 00:30:13,160 --> 00:30:14,120 How much? 625 00:30:17,480 --> 00:30:23,480 I would say this year is probably going to be 15 to 25% if it's really bad, 626 00:30:23,480 --> 00:30:28,120 depending what happens this year, because what happens in the world affects people's buying habits. 627 00:30:28,120 --> 00:30:32,600 So if a catastrophe strikes, I see it going more to the 25%. 628 00:30:32,600 --> 00:30:37,320 If it's just more or less the same people adjusting to the new norm of higher pricing, 629 00:30:37,320 --> 00:30:39,720 I see it maybe in that 15% range. 630 00:30:40,840 --> 00:30:43,320 I agree, but I will preface this. 631 00:30:44,120 --> 00:30:48,040 I plan on making more money on the platforms I sell on. 632 00:30:48,040 --> 00:30:52,680 So just because the platform is down doesn't mean your business has to be down. 633 00:30:52,680 --> 00:30:56,280 I think that's kind of something that gets misconstrued because, 634 00:30:56,280 --> 00:30:59,480 well, eBay is going to do less business, Amazon is going to do less business. 635 00:30:59,480 --> 00:31:02,520 So in turn, that means I'm going to do less business. 636 00:31:02,520 --> 00:31:06,120 I think that's 100% the wrong way to look at it and think about it. 637 00:31:06,920 --> 00:31:13,720 Now, if you know that people are going to be buying less, it just means you put up more. 638 00:31:14,280 --> 00:31:18,760 And if you know that, and if you're going to make that play, you got to factor in, 639 00:31:18,760 --> 00:31:24,120 okay, I'm going to have to spend more to make more, so I need to get my buy costs down. 640 00:31:24,120 --> 00:31:25,400 So I'm spending the same. 641 00:31:26,120 --> 00:31:29,000 So it all plays in each other and that's how you grow. 642 00:31:29,800 --> 00:31:34,840 Yeah, because right at the end of the day, nobody has their reselling business, 643 00:31:34,840 --> 00:31:38,360 at least most of us don't to a point where we're not growing. 644 00:31:39,240 --> 00:31:42,040 It's not like you're going to list the same amount of items on eBay this year 645 00:31:42,040 --> 00:31:43,000 that you did last year. 646 00:31:43,480 --> 00:31:44,840 Everything's changing. 647 00:31:44,840 --> 00:31:45,960 Your sources are changing. 648 00:31:45,960 --> 00:31:50,280 You're probably getting better quality stuff because you're learning more about what you're selling. 649 00:31:50,280 --> 00:31:52,440 So there's so many things that go into it. 650 00:31:52,440 --> 00:31:56,120 And honestly, who cares if there's less sales on these platforms? 651 00:31:56,120 --> 00:31:58,040 Just focus on you having more sales. 652 00:31:58,600 --> 00:32:04,840 Just because it's down across the board, you don't have to be part of the 20% decrease in sales. 653 00:32:04,840 --> 00:32:09,400 You can be a huge increase in sales and who cares if eBay is down? 654 00:32:09,400 --> 00:32:14,760 Well, you did 300% over what you did last year, even though eBay was down 15% on the year. 655 00:32:14,760 --> 00:32:15,800 Right. 656 00:32:15,800 --> 00:32:21,480 I mean, my business is different now than it was, but totally different than it was a year ago. 657 00:32:21,480 --> 00:32:23,240 I didn't start off with a warehouse. 658 00:32:23,240 --> 00:32:25,640 I didn't start off with employees last year. 659 00:32:27,320 --> 00:32:29,880 Granted, these things cost money, sure. 660 00:32:30,440 --> 00:32:36,280 But to that end, I'm spending my money on my growth and reinvesting back in my business. 661 00:32:36,280 --> 00:32:37,960 You got to make those kind of plays too. 662 00:32:37,960 --> 00:32:44,200 If an employee, I'm not excluding you part-time people, not your turn yet. 663 00:32:44,200 --> 00:32:49,400 To you full-timers though, if you get out employees, how do you best utilize their time? 664 00:32:49,400 --> 00:32:51,320 Are you giving them tasks that don't make you money? 665 00:32:51,320 --> 00:32:52,600 Are they picking up your trash? 666 00:32:52,600 --> 00:32:53,160 No. 667 00:32:53,160 --> 00:32:56,120 You need to make them list or you need to make them go out and get your inventory. 668 00:32:57,080 --> 00:33:00,840 You need to have them help you scan, pack boxes. 669 00:33:00,840 --> 00:33:02,280 What makes you money? 670 00:33:02,280 --> 00:33:04,840 That's what you need to be spending your employees' time on. 671 00:33:04,840 --> 00:33:06,760 And that's a hard lesson to learn. 672 00:33:08,200 --> 00:33:09,400 And the same for your warehouse. 673 00:33:11,160 --> 00:33:12,600 Have you used your space efficiently? 674 00:33:12,600 --> 00:33:14,200 Even Mike with his storage unit. 675 00:33:15,320 --> 00:33:17,080 I tell him some tips here and there. 676 00:33:17,080 --> 00:33:17,560 I had a... 677 00:33:17,560 --> 00:33:20,280 Because I did storage unit game once upon a time. 678 00:33:20,280 --> 00:33:20,680 Sucked. 679 00:33:20,680 --> 00:33:21,160 Didn't like it. 680 00:33:21,880 --> 00:33:23,160 I loved it actually. 681 00:33:23,160 --> 00:33:26,200 But I dealt with the storage unit for quite a while and I figured out these little tricks 682 00:33:26,200 --> 00:33:28,920 that I don't mind passing on to Mike and some of the others here. 683 00:33:30,760 --> 00:33:34,360 Because I could just throw the books in and one giant pile in the middle, right? 684 00:33:34,360 --> 00:33:36,200 But that's not the best use of my space. 685 00:33:36,200 --> 00:33:38,680 It's just when you open it up, these books just spill out, right? 686 00:33:38,680 --> 00:33:40,200 I'm sure there's people that do that. 687 00:33:40,200 --> 00:33:41,480 Clothes, shoes, whatever. 688 00:33:41,480 --> 00:33:43,480 Everything. 689 00:33:43,480 --> 00:33:47,480 Do you think that the decrease... 690 00:33:47,480 --> 00:33:52,680 So say eBay has a decrease 15% across the board from last year to this year. 691 00:33:52,680 --> 00:33:57,400 Do you think that the decrease is going to come from part-timers or full-timers? 692 00:33:59,160 --> 00:34:00,680 Who's going to get the biggest hit? 693 00:34:00,680 --> 00:34:00,920 Yeah. 694 00:34:03,720 --> 00:34:07,400 I think the part-timers are going to get the biggest hit because they're not going to make 695 00:34:07,400 --> 00:34:11,480 the adjustments that the full-timers would need to. 696 00:34:12,120 --> 00:34:13,240 That's not to say... 697 00:34:13,240 --> 00:34:14,840 I'm not saying that across the board. 698 00:34:15,560 --> 00:34:20,360 I know some part-time people that hustle like crazy and I see some full-timers that, 699 00:34:21,960 --> 00:34:26,520 okay, you made no adjustments this year and this is why we did this. 700 00:34:27,240 --> 00:34:27,480 Yeah. 701 00:34:28,440 --> 00:34:29,960 It's tough when you think about it, right? 702 00:34:29,960 --> 00:34:34,200 Because like you said, just because you're doing this full-time doesn't mean you're making money. 703 00:34:34,200 --> 00:34:35,640 We already come to that conclusion, right? 704 00:34:35,640 --> 00:34:40,360 And there's a lot of part-timers that do it really, really part-time and make a lot of money doing it. 705 00:34:41,240 --> 00:34:42,280 It's tough to say. 706 00:34:43,160 --> 00:34:46,440 I would honestly say that I'm going to go opposite of you. 707 00:34:46,440 --> 00:34:51,960 I'm going to say the full-timers would lose a larger chunk because I feel like people are so scared 708 00:34:51,960 --> 00:34:56,360 to change their business model, especially if they're full-time, right? 709 00:34:56,360 --> 00:34:57,000 Yeah. 710 00:34:57,000 --> 00:34:57,880 I can see that. 711 00:34:57,880 --> 00:35:04,360 I think you kind of get into a habit of, well, this worked on eBay, so it's going to work. 712 00:35:04,360 --> 00:35:10,680 It's just because we're in a depression or whatever you want, a recession, whatever you want to call it. 713 00:35:10,680 --> 00:35:17,640 It's almost as if a lot of full-timers justify that as to their decrease in sales when really it 714 00:35:17,640 --> 00:35:22,760 should be them not changing their business model is the reason the decrease in sales, 715 00:35:22,760 --> 00:35:26,200 not because of the recession, depression, whatever you want to call it we're in. 716 00:35:27,000 --> 00:35:30,680 It's easier to blame your environment than blame yourself. 717 00:35:30,680 --> 00:35:35,240 And then once you're done blaming yourself, adjust. It's way easier to blame everything 718 00:35:35,240 --> 00:35:37,080 else going on around you. 719 00:35:37,800 --> 00:35:39,160 Yeah. I guess that sums it up. 720 00:35:39,160 --> 00:35:43,480 And the common sense terms is a lot of people can't look in the mirror. 721 00:35:43,480 --> 00:35:45,960 And I even seen it when I was at CBS, right? 722 00:35:45,960 --> 00:35:47,480 Managers can't take criticism. 723 00:35:48,600 --> 00:35:52,600 I come into your warehouse tomorrow and I'm like, dude, what are you doing? 724 00:35:52,600 --> 00:35:53,800 Why are you doing it this way? 725 00:35:53,800 --> 00:35:55,080 This doesn't make sense. 726 00:35:56,120 --> 00:35:59,560 Most people react to that and they're not going to be like you and say, 727 00:35:59,560 --> 00:36:00,760 hey, well, what are you doing? 728 00:36:00,760 --> 00:36:02,120 That's better than what I'm doing. 729 00:36:02,120 --> 00:36:05,160 They're going to say, well, get out of my warehouse. 730 00:36:05,160 --> 00:36:06,600 You don't even know what you're talking about. 731 00:36:06,600 --> 00:36:07,400 So just shut up. 732 00:36:07,400 --> 00:36:08,600 I've been doing this for 10 years. 733 00:36:08,600 --> 00:36:11,880 What you say means nothing to me instead of thinking, whoa, let me see. 734 00:36:11,880 --> 00:36:14,760 Maybe this person has a better, more efficient way to do something. 735 00:36:14,760 --> 00:36:20,200 And honestly, I can say my business is basically bits and pieces just from everybody else that 736 00:36:20,200 --> 00:36:24,360 I learned from and watched on YouTube and people that are in the group and everything. 737 00:36:24,360 --> 00:36:29,480 I kind of pick and choose things that I can try to plug in that are going to save me time 738 00:36:29,480 --> 00:36:30,920 and it's pretty crazy. 739 00:36:30,920 --> 00:36:33,880 It's almost like a hybrid of everything built into one. 740 00:36:33,880 --> 00:36:38,760 But even though I have this set up the way I do, you still like, you got to make a change 741 00:36:38,760 --> 00:36:39,560 every once in a while. 742 00:36:39,560 --> 00:36:43,880 I did it with my Amazon business this year, like more merchant fulfilling and looking for 743 00:36:43,880 --> 00:36:45,000 higher profit items. 744 00:36:45,000 --> 00:36:49,960 But most people are going to be like, no, because it worked last year or the year before. 745 00:36:49,960 --> 00:36:51,240 But do you really know that it worked? 746 00:36:51,240 --> 00:36:55,000 Did you really do a full line breakdown of every single sale, every single dollar that 747 00:36:55,000 --> 00:36:56,360 came in and went out? 748 00:36:56,360 --> 00:36:57,080 I don't think so. 749 00:36:57,080 --> 00:37:03,800 But that's my reason behind why I think full timers are going to take the bigger hit compared 750 00:37:03,800 --> 00:37:07,640 to part timers because people are so afraid to change anything with their businesses. 751 00:37:08,680 --> 00:37:10,280 No, and I'm very open to change. 752 00:37:12,200 --> 00:37:16,520 I do think I'm an intelligent human being, but usually if it's a major change, 753 00:37:17,400 --> 00:37:18,600 I'm going to give a secret. 754 00:37:18,600 --> 00:37:21,800 I call Mike and I like Mike, here's my idea. 755 00:37:21,800 --> 00:37:24,200 Tell me how I'm wrong or if I'm right. 756 00:37:24,200 --> 00:37:29,560 But if I'm wrong, tell me I'm wrong and how I can make it more correct or just scrap it 757 00:37:29,560 --> 00:37:35,480 all together because I think it's important to have someone or a group of people in your 758 00:37:35,480 --> 00:37:40,680 life that can be a voice of reason because I can be so certain of a thing and I miss 759 00:37:40,680 --> 00:37:43,240 something so small that makes it all worthless. 760 00:37:44,840 --> 00:37:51,000 So I think it helps to share what you're thinking with others if it's a group or an individual 761 00:37:51,000 --> 00:37:52,520 that understands what you're doing. 762 00:37:52,520 --> 00:37:56,600 That's the hardest part because not everybody you talk to understands what we do in our 763 00:37:56,600 --> 00:37:58,040 business and things apply differently. 764 00:37:58,040 --> 00:38:02,520 So it has to be somebody within the community or some people in the community. 765 00:38:02,520 --> 00:38:07,640 I think it's important that you as resellers have that business acquaintance connection. 766 00:38:08,600 --> 00:38:12,200 Thanks for listening to another episode of the resellers mindset podcast. 767 00:38:12,200 --> 00:38:16,920 Today's full episode and all previous episodes are available to all YouTube members along 768 00:38:16,920 --> 00:38:19,480 with the weekly zoom call and private discord. 769 00:38:19,480 --> 00:38:23,960 Head on over to youtube.com backslash to use book guy and consider joining for as little 770 00:38:23,960 --> 00:38:50,360 as $2.99 a month.