1 00:00:00,000 --> 00:00:03,360 Welcome back to another episode of the resellers mindset podcast 2 00:00:03,360 --> 00:00:08,960 My name is Mike also known as a used book guy on youtube along with my friend and fellow full-time reseller johnny b 3 00:00:09,360 --> 00:00:12,640 We help people start and grow their reselling businesses from the ground up 4 00:00:12,880 --> 00:00:18,020 We also have a weekly zoom call and private discord for all youtube members head on over to youtube.com 5 00:00:18,700 --> 00:00:25,280 Backslash a used book guy to join the channel and gain access to the full-length podcast zoom call and private discord today 6 00:00:25,280 --> 00:00:32,880 Let's get into this week's episode. What is up everybody? Welcome into episode 30 10 10 and jb. Give me 10 7 00:00:34,200 --> 00:00:41,540 Jumping jacks, whatever push-ups other retailers mindset podcast today's episode is going to be another one where we answer your questions 8 00:00:41,540 --> 00:00:43,960 Right. So about once a month, maybe a little bit longer 9 00:00:43,960 --> 00:00:50,680 Maybe every six episodes we post a link on the youtube channel and we address every single question we get 10 00:00:50,680 --> 00:00:56,600 From that poll. So johnny b. He has no idea what any of the questions are. I posted this 11 00:00:57,640 --> 00:01:01,560 Uh poll about 10 days ago. So I actually have no idea what they are either 12 00:01:01,560 --> 00:01:06,520 We were going to do it last week, but we had max on so it got pushed back a week. But here we are today 13 00:01:07,160 --> 00:01:14,120 Lots and lots of questions. Remember johnny b is the ebay guy. I'm the amazon guy two different worlds two different perspectives 14 00:01:14,520 --> 00:01:19,880 Look at his background. Look at mine, right? This is not really my warehouse, but uh, you know, it's one day it will be 15 00:01:19,880 --> 00:01:24,200 One day it will be one day. No, I don't I don't want I don't want the the warehouse life 16 00:01:24,200 --> 00:01:28,520 So we're gonna hop right on into this because we have quite a few 17 00:01:28,600 --> 00:01:32,600 So first up we actually have this from a previous guest on the podcast 18 00:01:33,480 --> 00:01:38,440 Caleb antique book collective says what do y'all think about water damaged books? 19 00:01:38,520 --> 00:01:42,040 I still sell them they might not be worth as much but with older books 20 00:01:42,440 --> 00:01:47,320 They can still be valuable for my niche don't know about newer books. You want to i'll let you go first 21 00:01:47,320 --> 00:01:50,440 Uh, yeah, I sell water damaged books as well 22 00:01:50,920 --> 00:01:55,560 Uh, I account for that they go to my bottom price bucket essentially instantly 23 00:01:56,200 --> 00:01:57,480 um, but he 24 00:01:57,480 --> 00:01:59,080 unless it's like 25 00:01:59,080 --> 00:02:05,320 Really really rare and then maybe i'll go like half of what the high market is. So if they got it for 75 26 00:02:05,880 --> 00:02:12,280 I'll go i'll go half of that. So like 34 dollars 34.99 or something like that because it's the lowest price of that item 27 00:02:13,000 --> 00:02:14,280 and 28 00:02:14,280 --> 00:02:19,880 Because it's so severely damaged i'll even take an offer way lower than that because it is 29 00:02:21,880 --> 00:02:25,720 Severely damaged like it can be lightly water damaged or it can be heavily water damaged 30 00:02:25,800 --> 00:02:30,280 But still I usually go about half of the value or the bottom of my pricing bucket when I encounter these 31 00:02:31,080 --> 00:02:37,080 Uh lately though, uh as i've been growing because as you're starting you just want to list what you bought because you bought it, right? 32 00:02:37,640 --> 00:02:40,280 um, but sometimes I just jump that stuff unless I 33 00:02:40,280 --> 00:02:46,440 I can tell there's probably some money here. Let me price comp it real fast. Otherwise, i've been junking them lately 34 00:02:46,440 --> 00:02:49,480 but in antique world, he's probably right because 35 00:02:50,840 --> 00:02:55,480 Those things are always there's always something wrong with it and just the fact that it's water damaged 36 00:02:55,560 --> 00:03:00,920 Okay, that's just another thing that's wrong with it. So in antique antiquarian stuff. I can definitely see 37 00:03:01,560 --> 00:03:06,840 Still selling that but when paperbacks it's got to be rare or scarce. Otherwise, it's going in the well 38 00:03:06,840 --> 00:03:09,240 I'm sorry book lovers the trash bucket 39 00:03:09,240 --> 00:03:15,640 I'll give a eva example from my own experiences. I uh, I got a east impressed and it was like water damage 40 00:03:15,640 --> 00:03:19,160 But like you're saying if it's if it's there's a demand for it 41 00:03:19,720 --> 00:03:22,760 And if you know if you already have it, I think I paid a quarter for it 42 00:03:23,320 --> 00:03:26,200 Um, you're still going to make money on it, but there is a fine line 43 00:03:26,200 --> 00:03:30,520 And when it comes to amazon in my mind when I first started if it was like a pretty beat up book 44 00:03:31,160 --> 00:03:35,960 Uh, but it was worth decent money and maybe you know water damage. I'll admit I sent it in as good 45 00:03:35,960 --> 00:03:43,720 With my condition note, right? Um, maybe acceptable, but I can sit here and say I don't have any negative feedback on my amazon account 46 00:03:43,720 --> 00:03:50,200 So I I don't do it today like you're saying right as you grow when you learn you kind of just avoid it, right? 47 00:03:50,200 --> 00:03:55,480 Because you you know, there's media everywhere. So even if it's you know, it's a 50 book and it's you know 48 00:03:56,040 --> 00:03:58,840 Maybe the dog peed on it. Uh, you're just going to leave it behind 49 00:03:58,840 --> 00:04:04,760 It's just you know, somewhere else is going to be another 50 book and you're not going to have to worry about the headaches of it getting returned 50 00:04:04,760 --> 00:04:09,160 And you just learn to kind of avoid the headaches. I think that's the thing as you start to scale 51 00:04:09,160 --> 00:04:12,520 You want to decrease your headaches and just you know increase your revenue and 52 00:04:13,240 --> 00:04:18,120 Buying beat up stuff like that. There are times and places where it makes sense to do it 53 00:04:18,840 --> 00:04:23,080 But as you continue to grow you'll know hey, it's whatever you leave it behind 54 00:04:23,080 --> 00:04:27,720 It's kind of like you know when you're buying disc and the disc is all scratched up and you don't have a cleaner 55 00:04:27,720 --> 00:04:29,720 You just leave it behind and move on to the next one. So 56 00:04:29,720 --> 00:04:33,720 There's a judgment call when it comes says I don't think it's a fully no 57 00:04:33,720 --> 00:04:36,120 I don't think it's a fully yes when it comes to water damage books 58 00:04:36,120 --> 00:04:40,600 It's a judgment call with you learn with experience whether or not you're going to waste your time listing it 59 00:04:41,080 --> 00:04:45,080 Yeah, and with experience, I would never ever hide the condition fact 60 00:04:45,080 --> 00:04:50,840 And I wouldn't sell it as just an acceptable book and just leave the water damage portion out. I just flat out let them know 61 00:04:51,880 --> 00:04:54,520 Because as long as you do that, even if they get it and didn't read 62 00:04:55,080 --> 00:04:57,640 The description like they should have you're covered by ebay standards 63 00:04:57,640 --> 00:04:59,880 Same for amazon if you got it in there 64 00:04:59,880 --> 00:05:06,280 I'm not sure how much amazon's got your back opposed to ebay when you've notated everything but ebay's got my back when I do that 65 00:05:07,320 --> 00:05:10,920 I mean amazon fba, they'll they'll strike out, you know any 66 00:05:11,480 --> 00:05:14,040 Any comment no matter what it is if it's fba 67 00:05:14,600 --> 00:05:21,800 If it's merchant fulfilled, I 100 would not sell anything water damage because those reviews are you know next to impossible to get rid of 68 00:05:21,800 --> 00:05:25,160 But the fba ones they don't care they could say anything and i'd be like nope 69 00:05:25,160 --> 00:05:28,360 This is this is against the pilot and it's kind of frustrating because 70 00:05:29,000 --> 00:05:31,720 A lot of sellers out there take advantage of that system 71 00:05:31,720 --> 00:05:34,840 Maybe you know that maybe that review is actually correct 72 00:05:34,840 --> 00:05:39,080 You know, maybe the book is totally water damage, but you can still get it struck out if it's fba 73 00:05:39,080 --> 00:05:45,240 But don't do that stop. We're going down the rabbit hole here ripping people. Odyssey is the best policy. That's all i'm gonna say 74 00:05:45,960 --> 00:05:50,360 All right moving on here. We have uh, two questions from the same person here. We have shila 75 00:05:50,360 --> 00:05:55,000 She is a member of the channel recently. So she has two these are ebay questions, which is great 76 00:05:55,000 --> 00:05:58,120 Which means I can kind of just kick back and relax here. So the first one is 77 00:05:58,680 --> 00:06:03,000 How long after listing an item do you wait to lower the price if it's not selling? 78 00:06:04,120 --> 00:06:07,080 It's not okay. Now, this is a great question. Um 79 00:06:08,280 --> 00:06:12,760 I'll tell you what I do money. I'll tell you what I do. Um 80 00:06:14,280 --> 00:06:18,680 So I use pricing buckets and about a hundred dollars a month 81 00:06:18,680 --> 00:06:21,000 I use pricing buckets and about every 82 00:06:21,800 --> 00:06:25,800 My store is built up and now so this take this to the grain of salt in your smaller store 83 00:06:25,880 --> 00:06:30,360 You use different math numbers, but here are my math numbers. So every month I reprice 84 00:06:30,980 --> 00:06:36,760 1500 items plus the last time i've gotten to that I list more than that. I list about 2000 books a month 85 00:06:37,160 --> 00:06:39,160 So it's less than what i've listed 86 00:06:39,480 --> 00:06:45,320 So 30 days go by from when it's listed. So let's say i've done 3000. Okay, i'm going to now do 87 00:06:45,320 --> 00:06:48,120 another 1500 4500 onto that so 88 00:06:48,920 --> 00:06:53,880 1000 items through 4500 items. I'm going to price down to the next pricing bucket till it reaches my bottom 89 00:06:54,440 --> 00:06:58,680 Now let's use a smaller store. Let's say you got 100 items. You're new at ebay. Yay 90 00:06:59,240 --> 00:07:05,480 So you've done 100 items been 30 days. I might do a third of that. I reprice it a third down 91 00:07:06,280 --> 00:07:10,440 Um 45 days you could wait as well. Give it 45 days or 90 days 92 00:07:10,440 --> 00:07:15,400 Because books to me, I think are a lot longer tail items than let's say clothing 93 00:07:16,120 --> 00:07:18,680 Um, because everybody's got a reading list 94 00:07:19,160 --> 00:07:22,680 I'm not sure a lot of people have a to be born list for clothing 95 00:07:23,160 --> 00:07:26,920 Example say so you may want to wait a longer period of time 96 00:07:26,920 --> 00:07:33,080 I think anywhere between 30 and 90 days before you start repricing in books is a good 97 00:07:33,080 --> 00:07:39,240 Range um if it's a rare older book, you're that kind of seller. You might even go longer 98 00:07:39,240 --> 00:07:41,240 You may want to go 120 days 99 00:07:42,200 --> 00:07:47,480 But for just run of the mill, it's less than 100 years old. I would use somewhere between 30 and 90 100 00:07:48,520 --> 00:07:53,720 Now what your numbers are that's up to you. I don't know your store that could we could be here all day talking about that 101 00:07:53,720 --> 00:07:58,920 But my my addition to this question is uh, we're you know somebody like myself 102 00:07:58,920 --> 00:08:03,480 So can I go into my inventory and sort of buy how old it is? 103 00:08:04,760 --> 00:08:06,280 Um 104 00:08:06,280 --> 00:08:12,840 Kind of yes. Yes, you can. Um, there's a couple ways to do that. I usually do it with my 105 00:08:13,960 --> 00:08:20,360 Promotionals my marketing promotion tool the markdown thing is how I do it because you can set how old it's been on there 106 00:08:20,360 --> 00:08:22,360 And there's a way to do it on 107 00:08:23,720 --> 00:08:26,280 The surface value itself, I don't know if you can see it 108 00:08:26,280 --> 00:08:29,960 Uh the surface value itself, but how I have it by skew numbers 109 00:08:29,960 --> 00:08:35,000 So I don't even need to mess with that anymore. But if you're doing the date based model, you can sort by date 110 00:08:35,560 --> 00:08:38,840 Um, even if you even if you just put like the month of may in there, right? 111 00:08:39,400 --> 00:08:42,840 You can you can pull up all the mays and okay. It hasn't been 112 00:08:44,520 --> 00:08:47,560 There it's not june yet. So i'm not going to reprice these items 113 00:08:47,560 --> 00:08:52,840 But when june comes along you can go back into your skew column of may and reprice all of may 114 00:08:52,840 --> 00:08:56,120 I don't uh, I don't have like an official way of doing it. I just 115 00:08:56,680 --> 00:09:00,360 One one day i'll be in the storage unit and i'll be like this book has been sitting here forever 116 00:09:00,360 --> 00:09:05,960 And I just go through and reprice all my stuff and just drop everything, you know dollar two dollars three dollars 117 00:09:05,960 --> 00:09:11,480 Do you think it's beneficial to run a sale on those items or just permanently decrease the price? 118 00:09:12,360 --> 00:09:13,320 both 119 00:09:13,320 --> 00:09:15,320 Um, I would decrease the price 120 00:09:15,800 --> 00:09:19,080 And use your markdown sale for your 500 oldest items 121 00:09:19,080 --> 00:09:23,800 Now if you don't have more than 500 oldest items, maybe you just run a markdown sale 122 00:09:23,800 --> 00:09:27,640 You don't have to reduce the price. You can just use the percentage or flat dollar amount off 123 00:09:28,200 --> 00:09:35,080 But once you get over 500 items active, I would I would use both just reprice and if it 124 00:09:36,040 --> 00:09:38,040 In your markdown sale doesn't catch it 125 00:09:38,040 --> 00:09:43,560 Well when you sell off something that 500 block and that sale ends your new stuff can go into that 126 00:09:44,040 --> 00:09:46,040 Now you can run multiple markdown sales, too 127 00:09:46,040 --> 00:09:48,040 but 128 00:09:48,440 --> 00:09:51,640 Unlike amazon, you doesn't have to be erased to the bottom 129 00:09:52,360 --> 00:09:53,720 I it 130 00:09:53,720 --> 00:09:57,320 In my experience everything will sell it's just when it will sell 131 00:09:57,560 --> 00:10:04,600 The reason I lower my price is for my str or your sell through rate because I want to turn over my inventory as quickly as I can 132 00:10:05,080 --> 00:10:09,400 So the more proactive I am with that the more it helps the str in my opinion 133 00:10:10,120 --> 00:10:10,520 All right 134 00:10:10,520 --> 00:10:13,320 Her next question is going to be a fun one for us to address 135 00:10:13,320 --> 00:10:21,320 here. Oh fun. I've seen sellers list a generic single phrase description and others with more extensive details 136 00:10:22,440 --> 00:10:25,240 Listing is already my least favorite part me too 137 00:10:25,240 --> 00:10:30,040 And i'm wondering if i'm spending too much effort on a description or if it's worth it 138 00:10:30,040 --> 00:10:35,080 How descriptive do you get with each listing? I'm talking about the item description text box 139 00:10:35,080 --> 00:10:40,200 Not the drop down item specifics in what way if any does it affect the algorithm? 140 00:10:40,200 --> 00:10:45,480 Or search now, this is a fully loaded, you know, this is like secret sauce kind of ebay stuff here and 141 00:10:45,720 --> 00:10:49,640 JB is going to give you the correct answer and then i'll give you my wrong answer of how I do it 142 00:10:50,280 --> 00:10:52,280 sure 143 00:10:56,440 --> 00:10:58,840 I do the longer detail description 144 00:10:59,560 --> 00:11:04,920 There are faster ways to do the longer detail description. You can go to goodreads. You can 145 00:11:04,920 --> 00:11:09,960 To search out the book. Um, I also think that's great for coming up with the topics and genres 146 00:11:09,960 --> 00:11:12,760 Especially if you're not familiar with the book. So goodreads is a great tool for that 147 00:11:14,040 --> 00:11:19,640 Um, I don't think you could spend too much time doing it unless it's like taking you 10 or 15 minutes of listing 148 00:11:19,640 --> 00:11:24,680 Um, then you're probably a slow typer and that's okay. You don't have to be a fast typer 149 00:11:26,680 --> 00:11:29,480 So you can use copy and paste from goodreads that's a good tool 150 00:11:29,480 --> 00:11:35,320 You can use amazon sometimes amazon has book descriptions when goodreads does not which funnily enough amazon does own goodreads 151 00:11:35,320 --> 00:11:38,760 Um, there's other book sites. You can go to get book descriptions 152 00:11:39,560 --> 00:11:46,200 Now the reason i'm saying do the longer descriptions is you got to set yourself apart from the other book sellers that are selling your same book 153 00:11:46,200 --> 00:11:53,880 And that's how I do mine. That's my separator. That's why my listings are slightly better than any other person's on the site 154 00:11:53,880 --> 00:12:00,440 For the majority along with proper title structure and the item specifics now don't get me wrong. No one likes listings 155 00:12:00,440 --> 00:12:06,520 I don't even like listings. I do 50 plus of them a day close to 60. It sucks. It always will suck 156 00:12:07,000 --> 00:12:09,800 But if you embrace the suck, it sucks less 157 00:12:10,520 --> 00:12:17,560 And just get through it now if you have the habit of like listing three walking away coming back listing three more don't do that 158 00:12:17,560 --> 00:12:19,560 You don't have to do that. You don't have to do that 159 00:12:19,560 --> 00:12:25,720 You don't have to do that again. You got to embrace the suck bite your tongue and just do it all the way through 160 00:12:26,520 --> 00:12:30,760 Now if it's five o'clock and you need to have dinner made by six 161 00:12:31,560 --> 00:12:38,360 I think breaking it up throughout the day makes it take 14 times as long so it's start to finish just get it done 162 00:12:38,360 --> 00:12:43,240 Just get it done. It's like taking out your garbage. So your garbage man takes your garbage away. It's the same thing 163 00:12:43,240 --> 00:12:45,240 It sucks, but you got to do it 164 00:12:45,240 --> 00:12:52,840 I agree. I don't I mean if I had to just actually list an item from nothing every single day for ebay for me for my one listing 165 00:12:53,320 --> 00:12:58,200 That'd be if I'd be done. I won't even bother right? I get all my drafts done in one day. I'm like, all right, Deb 166 00:12:58,200 --> 00:13:03,640 I'm going to the storage unit. My life sucks. I'm going to be doing ebay listing. She's like, yeah you poor soul 167 00:13:04,280 --> 00:13:10,600 Whatever, but I will say that I am the opposite of you know, johnny and it really depends what your business is, right? 168 00:13:10,600 --> 00:13:12,280 You know, he's mainly focused on the 169 00:13:12,280 --> 00:13:17,320 BAM on amazon. So ebay is just kind of secondary. I don't need the income or anything like that 170 00:13:17,320 --> 00:13:19,240 So I kind of I kind of just you know, half bottom, right? I I put in my description, you know 171 00:13:19,240 --> 00:13:25,080 And I always I list through my phone. So I hit sell similar one thing I do do is I double check all of the 172 00:13:25,880 --> 00:13:30,920 Item specifics because a lot of ebay sellers don't do that and you could it could be a book 173 00:13:31,720 --> 00:13:35,720 It could be any book, you know by somebody and the author they somebody could put in a book 174 00:13:35,720 --> 00:13:42,680 And it's not a steven king book. So I do check the specifics, but my description just says 175 00:13:42,680 --> 00:13:49,240 What like what kind of condition the books in if there's any like defects any markings and then see photo for detail? 176 00:13:49,240 --> 00:13:52,520 So my my descriptions are a paragraph long 177 00:13:53,080 --> 00:13:56,200 Nothing extensive, but I just think it's what you want to get out of your business 178 00:13:56,200 --> 00:13:59,960 If you if you're mainly an ebay seller then johnny's approach is the right way 179 00:13:59,960 --> 00:14:03,240 If you're mainly an amazon seller then johnny's approach is the right way 180 00:14:03,240 --> 00:14:09,560 If you're mainly an amazon seller and you you want to have ebay, but you don't want it to be a huge, you know time sink 181 00:14:09,880 --> 00:14:11,080 Then do it the way I do it 182 00:14:11,080 --> 00:14:15,720 But just expect to get less results in comparison to somebody like johnny 183 00:14:15,720 --> 00:14:19,400 And if you're fine with that, like I am then there's nothing wrong with doing it that way 184 00:14:21,000 --> 00:14:27,720 Right, like I said it all sells is just how fast you want to sell the more effort you put in the faster it will sell 185 00:14:28,280 --> 00:14:29,240 the 186 00:14:29,240 --> 00:14:33,880 Least amount of effort you put in the slower it will sell that's just what you're really going with here 187 00:14:34,200 --> 00:14:40,360 The more fire emojis you put in the title the quicker it'll sell every fire emoji decreases bad advice 188 00:14:40,440 --> 00:14:43,240 That's the worst advice you can give it. Stop it mike stop it 189 00:14:45,400 --> 00:14:47,960 But I'll sell things with fire emojis, dude 190 00:14:48,360 --> 00:14:51,240 I told you it all sells but you're at the bottom of the list my man 191 00:14:51,240 --> 00:14:59,320 The bottom of the list with fire emojis. What if somebody uses fire emojis in their ebay search? 192 00:14:59,720 --> 00:15:01,720 They got problems 193 00:15:02,600 --> 00:15:06,760 But not a serious note ebay does not like special characters like emojis, um 194 00:15:07,380 --> 00:15:11,960 Dashes and commas in parentheses now, you'll see this in abundance on ebay, but it's like I said 195 00:15:12,360 --> 00:15:16,120 Ebay doesn't like it. So it kind of moves you down on the page ranking 196 00:15:16,760 --> 00:15:20,760 But it's still there. Oh man. We got a good one coming up here from miss lachey 197 00:15:20,760 --> 00:15:25,000 She is also a youtuber check her check out her channel. She's out there flipping books 198 00:15:25,320 --> 00:15:29,640 She's like big into book sets on ebay and like that is like the bane of my existence and like 199 00:15:29,960 --> 00:15:32,840 Anytime I see her selling a book set i'm like, oh my god 200 00:15:32,920 --> 00:15:36,920 And she's just yeah, they sell for like she'll post like yeah, I sold I sold this book set 201 00:15:36,920 --> 00:15:41,880 I'm like I would never in a million years even touch that thing. Oh, she's doing sets. She's not doing lots 202 00:15:42,520 --> 00:15:46,200 Uh, I think she does both so like i've seen her sell like that. Uh, 203 00:15:46,200 --> 00:15:52,040 Uh that tom lahey set like the the religious book set where it was like four. She she's just sell sets 204 00:15:52,040 --> 00:15:55,240 I don't know what it is. It works for her and she gets lots move quicker 205 00:15:55,560 --> 00:16:00,760 But in my opinion the listings take away longer now if you're not doing that many listings that may be okay 206 00:16:01,400 --> 00:16:06,760 And that would be pretty cool. Just to have an all book set kind of ebay store. All you do is book sets 207 00:16:07,080 --> 00:16:11,320 Yeah, it's down to book sets. That's cool. I mean if you walk into a store and the full sets there 208 00:16:11,400 --> 00:16:14,040 I mean then yeah buy it right that's happened to me a few times 209 00:16:14,040 --> 00:16:16,760 But yeah, she's she's heavy into selling sets. I see them all the time 210 00:16:16,760 --> 00:16:22,200 But she says if you could implement one thing from the other's business model, what would it be? 211 00:16:23,160 --> 00:16:27,400 This is a loaded question. I'm gonna go first. You're first. I know I know what mine is 212 00:16:27,720 --> 00:16:32,120 I would I would I actually wouldn't mind having an ebay store like johnny's 213 00:16:32,520 --> 00:16:37,000 Um, so I would implement basically his whole business model on the ebay front, right? 214 00:16:37,720 --> 00:16:43,000 Find find an employer too. That is actually good and train them the correct correct way from the beginning 215 00:16:43,000 --> 00:16:47,960 And it kind of gives you the ability right his long-term goal is kind of stepping back from his business 216 00:16:47,960 --> 00:16:51,160 Sure, he's still going to be you know the overseer of everything 217 00:16:51,160 --> 00:16:53,400 But he wants to grow it to a point where hey 218 00:16:53,400 --> 00:16:59,800 Maybe he has a warehouse manager that manages his listers and then he can kind of step back and maybe focus on something else 219 00:16:59,800 --> 00:17:03,960 So I do think that is kind of the biggest thing for me that I would steal from him is basically being 220 00:17:04,360 --> 00:17:08,840 Johnny B 2.0 and the benefit of like kind of social media and youtube is like 221 00:17:08,840 --> 00:17:13,560 You have the connections right you can reach out to anybody and say if you like what they're doing, right? 222 00:17:13,800 --> 00:17:17,640 I can say hey johnny b walk me through every single thing you do and i'll be like all right 223 00:17:17,640 --> 00:17:21,640 Here's exactly how I do it from day one with a new employee to where we're at today 224 00:17:21,960 --> 00:17:28,120 My 10-year plan my five-year plan and that's kind of like uh, what I like is the idea of stepping back, right? 225 00:17:28,120 --> 00:17:31,960 The used book guy's always got to go out and get the books and uh list them and source them 226 00:17:31,960 --> 00:17:36,440 So I think the employee route that he has going on in his you know, 10-year 15-year plan 227 00:17:36,440 --> 00:17:39,480 Is my my jealousy of his lifestyle 228 00:17:40,600 --> 00:17:42,600 Oh aw shucks mike 229 00:17:42,600 --> 00:17:45,800 Uh for me what I would steal from mike here, um 230 00:17:46,840 --> 00:17:53,320 I think he sources sources a bit smarter than me. I source a bit faster just to get it here and process it 231 00:17:53,320 --> 00:17:55,320 But if I could actually take my time with it 232 00:17:55,800 --> 00:17:59,320 I think I would have less work on my hands to do in all 233 00:17:59,800 --> 00:18:01,240 Technical stuff 234 00:18:01,240 --> 00:18:05,160 But I decided I just want to buy it process it list it and be done 235 00:18:05,160 --> 00:18:08,840 With it kind of like a factory. I don't really care what's really inside them. I care a little bit 236 00:18:09,560 --> 00:18:12,120 but I should care more than I do and I think I 237 00:18:13,480 --> 00:18:19,080 I think i'm gonna be doing that a bit more in the short term future here because it's something i've been giving a lot of thought 238 00:18:19,080 --> 00:18:25,160 Like i'm just bringing in junk like readers digest and it goes in the junk pile. I want less of a junk pile. I want 239 00:18:25,800 --> 00:18:31,160 more good better items coming to through me and my bulk pickups than i've been doing because 240 00:18:31,160 --> 00:18:34,680 I think that would be to my benefit. I think mike does that very well. He'll go out 241 00:18:35,480 --> 00:18:40,360 And don't get me wrong. He does do bulk buys too, but he's a little bit smarter about it than I think I am 242 00:18:40,920 --> 00:18:42,120 to be fair 243 00:18:42,120 --> 00:18:45,160 Um and a little bit more detail oriented on that side of the business 244 00:18:45,160 --> 00:18:47,880 And I wish I was more like that and I think i'm gonna start trying 245 00:18:48,440 --> 00:18:51,160 I may not be at the start, but I think I can grow into it 246 00:18:51,160 --> 00:18:55,960 I see like I thought about this like, you know, we're trying to move right and we buy a house in the middle of nowhere like 247 00:18:55,960 --> 00:19:00,520 I am gonna have to adapt more of your business because everything I bring in 248 00:19:00,920 --> 00:19:04,520 I don't have the same outlets right? Maybe i'm moving an hour and a half away from where i'm at. So 249 00:19:04,840 --> 00:19:07,080 Maybe all my duds no longer go to second and charles 250 00:19:07,080 --> 00:19:12,440 Maybe that stuff I take the time out the list on ebay because I have i'll have this space right i'm not in 251 00:19:12,680 --> 00:19:15,000 A little apartment here. I can have shelving set up 252 00:19:15,000 --> 00:19:20,520 So all my duds and in essence become things I can list on ebay and make a few dollars on 253 00:19:21,080 --> 00:19:23,880 And I think that would make sense. So I think that's a good thing 254 00:19:23,880 --> 00:19:25,720 I think that would make sense 255 00:19:25,720 --> 00:19:30,840 So that's where that's where my mindset is like moving forward like when we move and we're out in the middle of nowhere 256 00:19:30,840 --> 00:19:32,840 And I don't have anywhere to get rid of my duds 257 00:19:33,000 --> 00:19:37,320 My duds will just get listed on ebay and when they sell I make three bucks per dud 258 00:19:37,400 --> 00:19:40,680 Which is fine by me and I throw it on the shelf in a room. It's that easy 259 00:19:41,720 --> 00:19:44,760 Right, and that works it does because I do it now 260 00:19:45,240 --> 00:19:47,240 um, but i'm going to try to start 261 00:19:49,000 --> 00:19:51,000 I think i'm going to start trying to find 262 00:19:51,000 --> 00:19:56,840 More higher end thing i'm going to try to take the amazon approach to it and start trying to list those but they're still going 263 00:19:56,840 --> 00:19:58,840 To be in my vintage area 264 00:19:59,240 --> 00:20:02,200 But I have to figure out a way to do it in bulk and I don't know how to do that yet 265 00:20:02,280 --> 00:20:04,520 And so I got to work on my sources themselves 266 00:20:05,080 --> 00:20:10,440 So that's what i'm probably going to spend my summer doing is finding different sources that have higher 267 00:20:13,000 --> 00:20:14,600 Gold tier 268 00:20:14,600 --> 00:20:19,400 Silver tier kind of items versus then it's a mixed bag and there's a little bit of silver a little bit of gold 269 00:20:19,400 --> 00:20:23,400 But there's a hell of a lot of bronze. I want less bronze. I want more silver and gold items 270 00:20:24,280 --> 00:20:29,080 but I know how to sell the bronze items, I know because I do it every day and I don't mind if I get them but I want to 271 00:20:30,280 --> 00:20:33,240 expand my sources, um have 272 00:20:33,800 --> 00:20:37,640 More of them and better ones so I can control the volume and output 273 00:20:38,360 --> 00:20:39,320 um 274 00:20:39,320 --> 00:20:44,440 But that we're getting off topic. We got more questions to go through. That was a good question. You got me on a tangent 275 00:20:44,440 --> 00:20:49,640 All right. All right. Next up. We got sigil we got a signal from the group here. He uh, 276 00:20:50,120 --> 00:20:52,600 I'm glad he kind of dove in and it was like it was weird, right? 277 00:20:52,600 --> 00:20:56,600 Because he he makes his own music and he found that you know, 14 000 cd 278 00:20:57,160 --> 00:21:01,320 Storage unit by like it was almost like the stars aligned for him, right? They're like hey 279 00:21:01,720 --> 00:21:07,080 You're gonna start selling on amazon. You're you're in the music. Well, here you go. Here's your golden ticket, right? 280 00:21:07,480 --> 00:21:13,480 Uh, he asked in what circumstances is it best to separate your items into two different ebay stores? 281 00:21:13,480 --> 00:21:20,200 In my scenario i'm selling cherry picked everything category items and want to also add on selling high volume media 282 00:21:20,200 --> 00:21:24,600 Will it hinder the success selling them in the same ebay store? This is all you 283 00:21:27,480 --> 00:21:29,640 I would only have multiple ebay stores 284 00:21:31,960 --> 00:21:34,280 I'm going to answer this specifically procedural because I know what it builds in 285 00:21:35,800 --> 00:21:40,440 I would have a disc only store and then I would have everything else that you sell on ebay store 286 00:21:40,440 --> 00:21:43,960 And the reason I say that is you can never get top rated seller 287 00:21:44,680 --> 00:21:50,360 If you have a disc only store because you can't do the tracking method with that the tracking number method 288 00:21:51,000 --> 00:21:53,000 um, and you'll lose that 10 289 00:21:54,120 --> 00:21:57,960 Which you get with top rating. So that's the only reason I would split 290 00:21:58,600 --> 00:22:01,720 Your into two stores. Otherwise have everything in one store 291 00:22:02,600 --> 00:22:04,600 um 292 00:22:05,720 --> 00:22:09,640 And extrapolating that if there's something that's preventing you from getting more money on ebay 293 00:22:09,640 --> 00:22:11,880 That would be another reason to have another store 294 00:22:12,360 --> 00:22:16,680 Um, the one I specifically mentioned is for disc only and then everything else store 295 00:22:17,240 --> 00:22:19,720 There's probably some others but I don't know too much on that 296 00:22:19,720 --> 00:22:23,240 I know disc only because I know a few fellows that do disc only and that's what they have to do 297 00:22:23,640 --> 00:22:30,600 They have everything that they primarily sell on one and they have their disc only and that's literally the only thing on there is disc only 298 00:22:31,240 --> 00:22:35,880 So that would be my reason for only ever having to be based stores. Be honest 299 00:22:35,880 --> 00:22:41,400 Yeah, and if you have any questions, uh reach out to mike mike e not mike the used book guy mike e in the group 300 00:22:41,400 --> 00:22:48,120 He uh created another ebay store specifically for that. So it's pretty easy to do. You just gotta call have a conversation with ebay 301 00:22:48,760 --> 00:22:51,880 Tell them exactly what you're doing and then you'll be good from there 302 00:22:51,880 --> 00:22:57,240 And then you just kind of you know, keep keep the tooth strap it so you you don't you don't mind up losing top rated on all your other stuff 303 00:22:57,640 --> 00:22:58,920 Right 304 00:22:58,920 --> 00:23:02,920 All right moving right along here. We have dragon man zero one, two, three, four five 305 00:23:02,920 --> 00:23:07,320 Dragon man when doing bulk buys. Do you send in fast movers to amazon fba? 306 00:23:07,320 --> 00:23:12,360 You normally wouldn't for instance, you have an item with a low rank and a 180 plus e score 307 00:23:12,600 --> 00:23:18,280 But you only make three dollars on it. Are you going to send it in or just take it to a store like second and charles? 308 00:23:18,920 --> 00:23:21,640 All right. Well now this one I guess is probably for me, right? 309 00:23:22,440 --> 00:23:27,000 I understand the appeal of the three dollar profit book. You already bought it, right? 310 00:23:27,000 --> 00:23:30,840 Kind of like johnny b says you already have the item. So you're going to list it, right? 311 00:23:30,840 --> 00:23:33,240 But with amazon, it's a different beast 312 00:23:33,880 --> 00:23:37,800 The fees now the removal fees. They're higher than they have ever been 313 00:23:38,360 --> 00:23:42,680 Along with storage fees and I understand. Hey, it's three dollars 314 00:23:42,680 --> 00:23:50,200 But if you were to you know, say something happens, so it gets ordered customer damages it sends it back. It has to get removed 315 00:23:50,840 --> 00:23:54,200 You're going to wind up spending two bucks to get it sent back to you 316 00:23:54,920 --> 00:23:58,520 Depending on how heavy it is, right? If it's a heavy bug, you're going to spend more than two bucks 317 00:23:58,520 --> 00:24:03,080 If it's a textbook, it'll probably cost you five dollars to have that book sent back to you 318 00:24:03,080 --> 00:24:07,240 You can liquidate it short for a little bit less, but I I personally 319 00:24:07,720 --> 00:24:09,720 I'm going to pass on that every single time, right? 320 00:24:09,720 --> 00:24:16,440 So I do recommend having a bulk trigger set and like your your scan and trigger set like your source and trigger set 321 00:24:16,760 --> 00:24:19,800 Now you can't have the profit lower on the bulk one in comparison 322 00:24:20,280 --> 00:24:24,760 But you don't want to have it low to the point where you're sending in a three dollar book, right? 323 00:24:24,760 --> 00:24:26,760 Because you also have to value your time 324 00:24:26,760 --> 00:24:31,000 It takes time and you got to list the book. You got to sticker the book. You got to pack the book 325 00:24:31,000 --> 00:24:36,040 You got to take the book to the store and we kind of get caught up with not valuing our time as resellers. So 326 00:24:36,840 --> 00:24:43,880 Say for example, you had a box of you know 150 cds and they're all 250 three dollar profit. That's going to take you, you know 327 00:24:44,440 --> 00:24:47,240 Probably two hours to get all that listed prepped clean 328 00:24:47,800 --> 00:24:51,160 And even with the books it takes a little bit right? Maybe a book's got something on it 329 00:24:51,160 --> 00:24:54,680 You got to clean it up with a I use the alcohol prep pads 330 00:24:54,680 --> 00:24:56,680 For like my clean cleaning supplies 331 00:24:57,480 --> 00:25:02,280 They work pretty good just a single use ones. So this past week. I had a few I had to clean up 332 00:25:02,280 --> 00:25:03,640 You have to value your time 333 00:25:03,640 --> 00:25:07,960 I know you already paid for it if you have an outlet like second and charles 100 use it 334 00:25:08,280 --> 00:25:11,160 And I also would argue with a fast moving book like that 335 00:25:11,720 --> 00:25:16,440 Sell back your book will probably give you two dollars for it and that's a guarantee two dollars are going to give you 336 00:25:16,680 --> 00:25:19,240 You're not going to have any extra fees or hidden fees 337 00:25:19,640 --> 00:25:22,440 So you you would be better off just sending it to a buyback company 338 00:25:22,440 --> 00:25:26,840 Versus sending in the three dollar profit book in my experience because when you scan it, right? 339 00:25:26,840 --> 00:25:31,640 It says three dollars when you scan it by the time it gets there three weeks four weeks five weeks later 340 00:25:31,880 --> 00:25:38,760 The price probably has gone down because it's a very popular book that three dollars turns into one dollar customer buys it returns 341 00:25:38,760 --> 00:25:44,840 It gets sent back. You now literally wasted your time and you're paying amazon, you know, a dollar fifty 342 00:25:44,840 --> 00:25:50,040 Just to get that book back to you. So that's my take on it. I know it's enticing because hey 343 00:25:50,040 --> 00:25:54,200 It's a fast seller and it's only you know, I already bought the item. I want to send it in 344 00:25:54,200 --> 00:25:58,920 I would just say pivot to a buyback company instead johnny b. Any quick comment on this one? 345 00:25:59,400 --> 00:26:01,400 I agree 346 00:26:01,960 --> 00:26:04,280 That's my quick comment. That's all that matters. All right 347 00:26:05,000 --> 00:26:11,080 Moving along this is there goes you got another good question here from josh josh graph. He also has a youtube channel 348 00:26:11,080 --> 00:26:15,480 He sells all kinds of anything and everything if you just look at his what sold videos 349 00:26:15,480 --> 00:26:19,960 He like lays everything out on the table and it's just dude sells anything. It's it's crazy to me 350 00:26:19,960 --> 00:26:21,560 But he does have a lot of bulk sources 351 00:26:21,560 --> 00:26:26,360 So he's got a source and down where he's only out two days a week loads up his trailer comes back 352 00:26:26,360 --> 00:26:32,840 He says how important is cash flow and what are some things you do to help improve it? I'm gonna let you go 353 00:26:33,560 --> 00:26:35,560 That's probably the most important thing 354 00:26:36,600 --> 00:26:39,960 To be honest, you got to have money coming in all the time 355 00:26:39,960 --> 00:26:43,400 If you don't have money coming in you're waiting for the longer dollar later 356 00:26:43,400 --> 00:26:49,000 Now there's some items to do that with but if it's everything you list is longer dollar later. You can't survive 357 00:26:49,000 --> 00:26:51,000 That's going out of business style 358 00:26:51,560 --> 00:26:56,200 You got to have money coming in even if you're a truck and trailer guy, but the gas money 359 00:26:57,000 --> 00:27:02,600 Your time you got to how much is your time worth? But if you're only selling one 100 item 360 00:27:03,560 --> 00:27:08,200 A month that's not worth it. I'd rather sell 10 10 dollar items a day 361 00:27:08,200 --> 00:27:15,000 Than one 100 item a month. That's kind of that thing. Um, cash flow just keeps the gears turning 362 00:27:15,000 --> 00:27:19,800 It enables you to make expansions in your business like everybody has goals in their business 363 00:27:19,800 --> 00:27:22,520 It's hard to obtain them on slower incoming money 364 00:27:23,160 --> 00:27:27,880 And it it's really hard for sellers to grasp that because they feel like they're cheating themselves 365 00:27:27,880 --> 00:27:31,320 Oh if I only hold out for forty dollars because it says it's worth forty dollars 366 00:27:32,680 --> 00:27:34,840 You gotta let that go you can't be married to your 367 00:27:34,840 --> 00:27:39,240 Items and or your prices too much within reason you can't sell it for negative dollars either 368 00:27:39,240 --> 00:27:43,080 So you got to know your numbers in order to do that to accept an offer kind of deal 369 00:27:44,440 --> 00:27:50,120 Also guys, we pay so so little for this stuff. You got to remember that too 370 00:27:50,120 --> 00:27:54,200 So when a lower offer comes in don't be insulted. Don't get mad at it 371 00:27:55,000 --> 00:28:00,440 Consider it know your numbers and if it's okay, this is in my septical bottom margin 372 00:28:00,440 --> 00:28:05,080 I'm gonna take the money and run because I can then buy 10 more of these things 373 00:28:05,800 --> 00:28:08,680 You gotta you gotta think like that versus this is worth forty dollars 374 00:28:08,680 --> 00:28:13,560 I'm not letting it go for any less than forty dude. You paid 50 cents for it. Let it go 375 00:28:14,040 --> 00:28:18,040 Let it go. There's a song about this and I hope it's burning in your brain right now 376 00:28:19,800 --> 00:28:24,840 I'm gonna take over this one here. So cash flow like he said, it's the most important thing 377 00:28:24,840 --> 00:28:29,960 With media because as you know, if you think about it, right, I would say you probably need at least 378 00:28:29,960 --> 00:28:35,720 Two thousand items in the Amazon inventory for it to start making you see some serious kind of money 379 00:28:35,720 --> 00:28:37,400 Right unless you have super good books 380 00:28:37,400 --> 00:28:43,000 Maybe you're just sourcing textbooks, whatever but for the rest of us that are sending a run of the mill stuff two thousand items 381 00:28:43,480 --> 00:28:51,240 Think about your buy cost with your average buy cost dollar fifty that puts you at three thousand dollars sitting in inventory at any single moment 382 00:28:51,240 --> 00:28:56,280 That always has to be sitting there. So the importance of just turning that inventory over 383 00:28:56,840 --> 00:29:02,600 The biggest headache that I used to deal with was why do you reprice at the lowest fba price? 384 00:29:02,600 --> 00:29:06,920 Mike, why aren't you doing the buy box? Well, I want to sell my stuff 385 00:29:06,920 --> 00:29:11,880 I'm not in the business of storing it at my warehouse behind me here and neither is amazon 386 00:29:12,440 --> 00:29:15,640 Why do you think amazon has changed in the past year the way they have? 387 00:29:16,200 --> 00:29:18,200 Because they don't want to store your stuff 388 00:29:18,200 --> 00:29:23,080 And you shouldn't want to store yourself either you should want to sell everything as fast as you can 389 00:29:23,080 --> 00:29:29,160 That's the importance of having that low buy cost because if I pay 15 cents for a book and I make two bucks 390 00:29:29,160 --> 00:29:32,920 I mean the roi on that is still you know without over a thousand percent, right? 391 00:29:32,920 --> 00:29:36,760 I mean, I know life or more books and do it again. It sounds like peanuts 392 00:29:36,760 --> 00:29:40,040 But when you think about it, if you're doing media, it's all about quantity 393 00:29:40,600 --> 00:29:45,560 Unless you unless you're buying, you know doing some ebay to amazon flips or you're buying something 394 00:29:45,560 --> 00:29:51,000 You know doing some ebay to amazon flips or you buying textbooks off college kids. It's all about quantity 395 00:29:51,000 --> 00:29:53,000 You just want to keep selling 396 00:29:53,320 --> 00:29:58,360 Keep taking those three dollars five dollar bills and keep turning that into more books more inventory 397 00:29:58,360 --> 00:30:01,720 And that's how that's how you get results in this but it is cash flow 398 00:30:01,800 --> 00:30:04,440 Nobody really talks about it and I try to talk about every once in a while 399 00:30:04,840 --> 00:30:08,040 It's intensive when you start a media business because it takes a while 400 00:30:08,520 --> 00:30:15,000 For things to sell and it'll sit there and it sucks to give two dollars today and get ten dollars back in two months 401 00:30:15,000 --> 00:30:17,560 But in reality sometimes that's just how it is, right? 402 00:30:17,560 --> 00:30:23,880 It's just just the way it works with me is doesn't sell every day and you're not selling every single book multiple times every single day 403 00:30:24,760 --> 00:30:28,120 Right as we mentioned earlier books are just a longer tail item 404 00:30:28,440 --> 00:30:32,680 But you need a lot of it and that's okay because you got longer tail selling every day at some point 405 00:30:34,040 --> 00:30:36,040 All right. Next up we have nate 406 00:30:36,040 --> 00:30:40,280 Davis four four four four four four four for another member of the channel says 407 00:30:40,280 --> 00:30:48,120 Mike, do you do any ebay to amazon media flips jb any amazon to ebay flips if you guys don't help come? 408 00:30:48,280 --> 00:30:50,280 Um, i'll let you go first 409 00:30:50,600 --> 00:30:55,240 It's something i've been thinking about and I actually looked at amazon the other day trying to see if there were some deals to be 410 00:30:55,240 --> 00:31:01,000 Had there and there were um, I didn't pull the trigger on it because i'm trying to figure out there's got to be a better way 411 00:31:01,000 --> 00:31:05,400 To do it. So i'm in exploratory mode on that but it's definitely doable 412 00:31:05,400 --> 00:31:09,240 I found a couple things that you could do and I based that off what I sold in my ebay store 413 00:31:09,240 --> 00:31:13,160 So I was just looking at things that previously sold and see what they're going for on amazon 414 00:31:13,960 --> 00:31:17,560 I have uh another previous guest on the show joji 415 00:31:18,040 --> 00:31:24,440 Um me and him are trying to work out where he's going to kind of show me how to do the flips right the ebay to amazon amazon amazon flips 416 00:31:24,760 --> 00:31:26,760 And myself along with jb 417 00:31:27,400 --> 00:31:35,240 It's one of those things right where it's better for me to just focus on what i'm doing that works right now instead of trying to develop a whole new basically 418 00:31:35,720 --> 00:31:36,600 uh 419 00:31:36,600 --> 00:31:42,280 Business trait business skill because it is a skill. You can't just flip on a switch and it happens, right? 420 00:31:42,360 --> 00:31:46,600 Um, so I am working in the background and hopefully, you know joji has 421 00:31:47,160 --> 00:31:51,480 Can show me he knows i'm not good with anything but you know, I said it again earlier 422 00:31:51,640 --> 00:31:56,200 There's people out there that can do this efficiently and the fact that hey, we know joji 423 00:31:56,200 --> 00:31:57,560 We have a relationship with joji 424 00:31:57,560 --> 00:32:01,560 All we got to do is say yo joji hop on the call with us me and johnny want to go down this rabbit hole 425 00:32:01,560 --> 00:32:04,360 And it's taking care of but it is on both of our minds 426 00:32:04,360 --> 00:32:10,440 But we try to stay focused on what's working for us currently and getting us results and that's our business models that we have 427 00:32:10,440 --> 00:32:12,600 So we are interested both of us are interested 428 00:32:13,080 --> 00:32:16,840 But it's you know, how can we time fit this into our already biz? 429 00:32:17,160 --> 00:32:20,360 yeah, that's the thing it's like getting the time to sit down and grind through it, but 430 00:32:21,480 --> 00:32:26,840 We know people these days to help us. So we should well I should reach out more than I do. Yeah 431 00:32:27,880 --> 00:32:29,880 All right. Next up we have 432 00:32:29,880 --> 00:32:34,920 Uh stooge fan says what day and time will this podcast be on? I don't want to miss it every wednesday 433 00:32:36,120 --> 00:32:42,520 Every wednesday 8 pm eastern. Uh, the podcast is uploaded to all podcast platforms and on youtube 434 00:32:43,480 --> 00:32:48,600 That's great question stooge fan. Oh, that's the best question. I don't know if we've ever mentioned when we actually 435 00:32:49,320 --> 00:32:51,160 All right. Next up we have 436 00:32:51,160 --> 00:32:57,240 I think you're right. I don't think we ever have mentioned what day and it's every week too every wednesday 8 pm 437 00:32:57,240 --> 00:33:02,040 I mean we're slackers. I mean listen, we're just here to help people. We're professionals. We've only done 30 of these 438 00:33:02,360 --> 00:33:05,880 We're not trying to get famous. Sorry. I don't want to be noticed while i'm out 439 00:33:05,960 --> 00:33:09,720 You know a burger king eating my food, right? I don't want to sign autographs and pictures 440 00:33:09,800 --> 00:33:14,200 I just want to help people make some money. Exactly. That's why I don't have a facebook instagram or twitter 441 00:33:14,600 --> 00:33:16,600 All right. Next up we have the cool r 442 00:33:16,920 --> 00:33:19,400 Please explain how you price merchant fulfilled books 443 00:33:19,800 --> 00:33:23,320 And and then they put again, is it always the lowest merchant fulfilled price? 444 00:33:23,320 --> 00:33:27,240 Do you ever go with the featured price or is that just fba and then in uh, 445 00:33:28,120 --> 00:33:32,280 Chromo parentheses fba is so much easier. Yeah fba is easier 446 00:33:32,760 --> 00:33:35,720 Um for sure, we all agree that that's the easiest way 447 00:33:35,800 --> 00:33:40,520 But the problem is can you find enough fba items selling media to make it worth your while? 448 00:33:40,520 --> 00:33:46,440 So merchant fulfilled always goes off the lowest price the featured offer price is the buy box 449 00:33:46,760 --> 00:33:48,760 That's the new wording they have for it 450 00:33:48,760 --> 00:33:54,200 It kind of implemented that over the past year. I guess buy box doesn't sound exciting enough for them 451 00:33:54,840 --> 00:33:58,460 Or maybe like I don't know featured offer. I guess just sounds more sophisticated 452 00:33:59,000 --> 00:34:03,480 But with merchant fulfilled featured offered buy box is always usually going to be the fba item 453 00:34:03,480 --> 00:34:06,760 So you always want to reply reprice off the lowest merchant fulfilled 454 00:34:07,400 --> 00:34:12,360 And you have a different template in your repricer for merchant fulfilled items and it's always the lowest current price 455 00:34:12,440 --> 00:34:14,440 And that does take your shipping into consideration 456 00:34:14,440 --> 00:34:18,840 So merchant fulfilled is always the lowest price. So when people hit see other offers 457 00:34:19,080 --> 00:34:23,240 You're the lowest one and that's the one they usually buy when they're searching for merchant fulfilled items 458 00:34:23,800 --> 00:34:28,360 They've done a lot of branding this year isn't like new call it perfect or some silly 459 00:34:29,080 --> 00:34:34,280 They mess with those condition notes every single month and it's always something else items in perfect condition 460 00:34:35,560 --> 00:34:38,920 All right moving along here. Josh is back again with another question 461 00:34:38,920 --> 00:34:45,400 He says do you see yourself scaling up your business or do you want to stay at your current volume profit you already have? 462 00:34:45,960 --> 00:34:47,960 Um, i'll let you go first 463 00:34:47,960 --> 00:34:52,040 I mean, I kind of hinted at this in an earlier question. I'm looking to 464 00:34:52,840 --> 00:34:56,920 Go up on my asp average sell price for those that don't know acronyms 465 00:34:57,560 --> 00:34:58,760 um 466 00:34:58,760 --> 00:35:02,360 But I need to also have the same str your sell through rate 467 00:35:02,360 --> 00:35:09,160 So I want both and i'm working on getting better sources and exploring some online avenues in order to accomplish that goal 468 00:35:10,120 --> 00:35:11,400 because i'm the 469 00:35:11,400 --> 00:35:15,400 Pardon me. I'm the buy it all guy, right? I'll list it all and i'll sell it all that's fine 470 00:35:16,040 --> 00:35:20,920 Um, but that is a very long grind and I work really hard to do that grind and i'm trying to 471 00:35:21,400 --> 00:35:25,080 Adjust a little bit more toward. Okay. I built up my store big enough now 472 00:35:25,080 --> 00:35:31,320 I have enough volume where I can focus a little bit more on the quality of what i'm injecting in my store 473 00:35:31,320 --> 00:35:37,480 Because of the volume i'm able to do my multi-quantity buys and keep my customers buying two four eight twelve. Yay 474 00:35:37,480 --> 00:35:41,640 I know how to keep them happy, but I like to appeal to another kind of buy 475 00:35:41,640 --> 00:35:47,400 Hey, I just made some money. I like to appeal to another kind of buyer that wouldn't mind paying 30 35 476 00:35:47,640 --> 00:35:51,960 50 100 plus books that it's not to say I don't have some of those in my store 477 00:35:52,360 --> 00:35:54,840 I just would like more of them into my store 478 00:35:54,840 --> 00:36:00,920 Because having the best of both worlds, I think is the main goal for myself. Um 479 00:36:02,280 --> 00:36:04,280 And I will let you go now I 480 00:36:04,760 --> 00:36:10,200 It's one of those things right amazon's a different. I don't want a warehouse looking like the one behind me, right? 481 00:36:10,280 --> 00:36:15,560 So when I have a house i'm perfectly fine with having one bedroom be my reselling space for media 482 00:36:15,800 --> 00:36:17,320 Um, that'll kind of be my max 483 00:36:17,320 --> 00:36:21,800 I don't ever plan on buying gaylords of media to kind of scale up that way 484 00:36:21,800 --> 00:36:27,240 I always want to if I can I realize I always rather be picky than take everything because 485 00:36:27,720 --> 00:36:31,080 I don't have the space. I don't have an employee like johnny b does so 486 00:36:31,800 --> 00:36:35,480 If I could scale up, you know, that'd be great. But at some point i'm going to max out right? 487 00:36:35,480 --> 00:36:41,320 There's only so much one person can do and yet again it comes down to uh, it's kind of like a loaded question, right? 488 00:36:41,320 --> 00:36:45,660 Because I wouldn't have to scale up like I could stay where i'm at and live comfortably 489 00:36:46,040 --> 00:36:48,920 But for somebody else, you know, maybe your expenses are different 490 00:36:48,920 --> 00:36:54,760 Things like that, you know, maybe you have different, you know bills or something coming in. It's a it's a different question for me 491 00:36:54,760 --> 00:36:56,760 I could scale up i'd be fine with it 492 00:36:57,000 --> 00:37:00,680 But I don't want to live a miserable life if that means scaling up 493 00:37:00,680 --> 00:37:04,920 I guess that's kind of my big trade-off is i'm fine with where i'm at if I scale up, you know 494 00:37:04,920 --> 00:37:10,200 If for somehow I make you know 200 sell 200k on amazon in a year and it doesn't require me 495 00:37:10,200 --> 00:37:14,520 You know being miserable for the year. I'm perfectly fine with that. But with where i'm at now 496 00:37:14,840 --> 00:37:18,040 I'm happy i'm comfortable with where i'm at and I don't feel like i'm burning myself out 497 00:37:18,040 --> 00:37:22,600 And I kind of value my burnout more than I do scaling up. I guess 498 00:37:23,480 --> 00:37:24,520 Well, here's the numbers for you 499 00:37:24,520 --> 00:37:27,960 And the reason i'm being a little transparent with them because I was transparent in daily refinement groups 500 00:37:27,960 --> 00:37:29,960 So the information's already out there 501 00:37:30,040 --> 00:37:30,840 so 502 00:37:30,840 --> 00:37:32,840 Uh in my current model I would have to 503 00:37:33,560 --> 00:37:38,440 List and sell 1200 items a day to get to my end goal dollar amount wise 504 00:37:39,000 --> 00:37:42,680 Um, and that's that's that's my retirement dollar number that money in the bank 505 00:37:43,160 --> 00:37:46,840 That's a lot of listings and that's over a 10 year period if I wanted to do in 10 years 506 00:37:46,840 --> 00:37:48,840 Now if I wanted to do it longer 507 00:37:48,920 --> 00:37:53,640 That number would decrease 1200 1200 is a lot of daily listings 508 00:37:54,120 --> 00:37:55,880 um 509 00:37:55,880 --> 00:37:58,040 So I got to adjust my model to 510 00:37:59,560 --> 00:38:03,160 Lower that number I'd like that number lower and that's all doable and I don't even need software 511 00:38:03,160 --> 00:38:07,640 I need people to do it. I could I could run a full shop like he's talking about which was my plan all along 512 00:38:08,280 --> 00:38:11,720 But maybe I want less people. Maybe I sell a little bit smarter. I mean 513 00:38:11,720 --> 00:38:18,360 Keep in mind folks. I've been doing this a little over a year. I'm still a newbie quote unquote, but I know a thing or two 514 00:38:18,760 --> 00:38:25,000 And i'll admit when I need to adjust myself or make a mistake which I'm doing so now to all you lovely people listening 515 00:38:25,000 --> 00:38:26,440 next question 516 00:38:26,440 --> 00:38:28,440 Next question we have 517 00:38:29,240 --> 00:38:33,080 Can you sell restricted books on ebay from the cool art again? 518 00:38:33,080 --> 00:38:39,400 Yes, 100 a lot of people go that route if you're an amazon seller and you're restricted you can sell it on ebay 519 00:38:39,400 --> 00:38:42,200 That's the route I would go but for me 520 00:38:42,760 --> 00:38:45,240 I have an ebay store. I understand how it works. So 521 00:38:45,720 --> 00:38:50,360 If you don't have an ebay store, I wouldn't recommend opening a store just to sell your restricted auto 522 00:38:50,840 --> 00:38:56,120 I would do a buyback you can do a buyback company or you know, just commission with somebody, you know 523 00:38:56,440 --> 00:39:02,760 Companies like restricted inventory. It's just going to take a little bit longer to get your money back versus you selling it yourself on ebay 524 00:39:03,480 --> 00:39:08,360 Now keep in mind even on ebay to do something similar. They just use different terminology like vero's 525 00:39:08,360 --> 00:39:10,360 Or you'll get a lovely letter 526 00:39:10,600 --> 00:39:12,920 Email saying hey, we don't want you selling our stuff 527 00:39:13,640 --> 00:39:15,640 um and they have a 528 00:39:15,720 --> 00:39:21,320 Their version of restricted list on their baro thing where you can look at them. There's a lot even in the book category 529 00:39:21,320 --> 00:39:23,320 They don't make it easy 530 00:39:23,320 --> 00:39:28,200 But you can pick up if you've been in the book game a while. Oh this I I see this book company on here 531 00:39:28,200 --> 00:39:30,200 I okay fine. Thanks. Ebay 532 00:39:30,200 --> 00:39:33,720 So just keep that in mind when you're moving or you're restricted from amazon to ebay 533 00:39:33,720 --> 00:39:37,320 Just make sure it's not also not allowed on ebay because it lets you list it 534 00:39:37,320 --> 00:39:39,320 But then you'll get punished for it 535 00:39:39,880 --> 00:39:45,800 If they catch all right, we're coming down to the uh, the final stretch here. We got three more questions left 536 00:39:46,280 --> 00:39:47,560 Miss lachey 537 00:39:47,560 --> 00:39:52,840 Ask who has higher fees ebay or amazon. Do you have an ebay calculator you can pull up? 538 00:39:53,560 --> 00:39:57,640 Yeah, all right. We're gonna do this live here and uh 539 00:39:58,440 --> 00:40:03,720 You want to share my screen or no, no, no, i'm just i have the amazon one pulled up. I have a book 540 00:40:03,720 --> 00:40:06,760 Uh, let me know when you're ready for the information 541 00:40:07,080 --> 00:40:12,360 I'm ready for the information and i'll have some questions. Okay, we're gonna sell the book for 9.99 542 00:40:12,840 --> 00:40:14,840 Okay 543 00:40:14,920 --> 00:40:17,240 Uh free shipping on your side 544 00:40:17,960 --> 00:40:19,960 Okay item cost 545 00:40:19,960 --> 00:40:21,960 Uh, you got it for free 546 00:40:22,760 --> 00:40:24,760 Free all right here 547 00:40:24,760 --> 00:40:26,760 And it is going to be one and a half pounds 548 00:40:27,880 --> 00:40:29,880 Okay, so 420 549 00:40:29,880 --> 00:40:31,880 Okay, so 420 550 00:40:33,800 --> 00:40:35,800 Um, so 551 00:40:35,800 --> 00:40:40,040 How much you get after fees on ebay for a 9.90 bulk free shipping that weighs a pound and a half 552 00:40:40,680 --> 00:40:42,840 Well, here are my questions. Do I have an ebay store? 553 00:40:44,440 --> 00:40:48,280 Yeah, well just your starter store. Yeah, okay, so am I top rated? 554 00:40:50,120 --> 00:40:51,640 Yeah, sure 555 00:40:51,640 --> 00:40:53,880 And am I running promoted ads or not? 556 00:40:54,440 --> 00:40:56,440 promoted listing fee 557 00:40:56,440 --> 00:41:01,560 Uh, pretty much you got to run promoted on ebay. So I would say yes, we'll just say 10 558 00:41:03,640 --> 00:41:05,640 All right 559 00:41:06,280 --> 00:41:11,560 I'm gonna make three dollars and 15 cents. Okay, the same book amazon fba 560 00:41:12,040 --> 00:41:17,800 Um, it's a normal size book too, you know 10 by 7 by 2 inches. So it's a normal size book 561 00:41:18,360 --> 00:41:20,840 You sell that 9.99 amazon fba 562 00:41:21,640 --> 00:41:23,640 You would make 95 cents 563 00:41:23,640 --> 00:41:29,240 So the answer is ebay wins and that's what the promoted listing of 10 percent. So 564 00:41:29,720 --> 00:41:35,640 Um the amazon fba you make under a buck and like that's before buy cost or anything. So if you're paying a doubt 565 00:41:36,440 --> 00:41:38,760 Yeah, yeah, yeah and chipping it in so 566 00:41:39,480 --> 00:41:41,720 Ebay is the clear winner when it comes to fees 567 00:41:41,800 --> 00:41:44,200 I think even if we scale that up, it still would be the same way 568 00:41:44,200 --> 00:41:46,760 I think you would make more on ebay, but ebay takes more work 569 00:41:46,840 --> 00:41:50,760 So the fees are definitely higher on amazon and they're only going to continue to go up 570 00:41:50,760 --> 00:41:56,120 So that's kind of you know, the situation where a lot of us fba sellers are in trying to figure out what the next step 571 00:41:56,120 --> 00:42:00,200 Is to stay ahead of fee increases on amazon sure if ebay raised or 572 00:42:00,820 --> 00:42:03,560 Promoted to you got to be at least three percent who cares right? 573 00:42:03,560 --> 00:42:08,680 You know johnny b and he talked me into it. You should be promoting all your stuff at 10 percent. Anyway, so 574 00:42:09,320 --> 00:42:10,920 at least 10 575 00:42:10,920 --> 00:42:12,920 All right amazon fees are higher. Miss lachey 576 00:42:13,400 --> 00:42:19,800 If you come to this dark side, just be prepared that the dark side has a very expensive cover charge to get into the club 577 00:42:19,800 --> 00:42:23,480 And miss lachey you ask a lot of good questions. You should join our weekly call 578 00:42:24,760 --> 00:42:27,320 We should have her on I should just get like, you know 579 00:42:27,320 --> 00:42:30,680 All my ebay youtubers that I follow and have them all on one call 580 00:42:31,240 --> 00:42:34,120 I can ask mel from back to burn out. I see her every now and then so 581 00:42:34,520 --> 00:42:36,680 All right. Next one last well two more 582 00:42:37,000 --> 00:42:40,680 Why is it that nearly every book I scan is restricted is amazon gating books now? 583 00:42:40,680 --> 00:42:45,320 I want to have amazon reselling business, but how can I when everything is either gated or restricted? 584 00:42:45,400 --> 00:42:48,920 I will answer this one for you. Yes amazon if you're a brand new seller now 585 00:42:48,920 --> 00:42:51,080 It puts basically everything behind the gate right? 586 00:42:51,080 --> 00:42:58,200 They don't want johnny b who has no clue what he's doing to be able to come onto the platform and sell anything at any given price 587 00:42:58,200 --> 00:43:03,400 That's not customer friendly to them and they only care about the customers right you as a seller 588 00:43:03,640 --> 00:43:07,240 You're you're whatever to them. You don't matter. You just pay all their bills basically 589 00:43:07,240 --> 00:43:10,600 So they they put you behind these gates initially 590 00:43:10,600 --> 00:43:17,320 But over time especially if you're new as you start to send stuff in and as you start to request approval in these books 591 00:43:17,320 --> 00:43:23,800 You're going to get automatically approved and i've actually been seeing this more a lot of people been kind of pushed off because they sign 592 00:43:23,800 --> 00:43:29,400 Up and everything's gated. Well, that's just the reality of it's not the wild west that it used to be they kind of want to 593 00:43:29,800 --> 00:43:35,080 instill some trust in their sellers and some kind of you know, you got to prove yourself basically to 594 00:43:35,720 --> 00:43:38,440 Be able to sell these other things, but don't let it deter you 595 00:43:38,520 --> 00:43:41,400 You know the the trouble is worth the payoff at the end of the road 596 00:43:41,720 --> 00:43:46,280 So you just keep going sending what you can send in maybe get ungated in dvds and cds 597 00:43:46,280 --> 00:43:48,920 So you don't have to worry about gates, although you still run into them 598 00:43:49,480 --> 00:43:53,980 But don't let it deter you. Um, but amazon is making it harder and harder for new sellers 599 00:43:56,840 --> 00:43:58,920 All right moving on here, oh man this one 600 00:44:00,040 --> 00:44:04,440 Thomas he wrote us like a whole paragraph here. So you're gonna give me a long just for last, huh? 601 00:44:04,600 --> 00:44:10,920 Yeah, thomas has been around he's got the 12 month member badge. What an og here. So capital question 602 00:44:10,920 --> 00:44:16,120 And money is tight and i'm trying to get my inventory up thrift stores and bulk buys only really give me 603 00:44:16,600 --> 00:44:19,880 Five dollar profit books, but payouts are not enough with those books 604 00:44:19,960 --> 00:44:24,680 I've been transitioning more into oa books and offer up deals for higher margin books 605 00:44:25,000 --> 00:44:32,520 Should I take the lower inventory for the higher dollar or chase lots of inventory for the lower profit sourcing online and offer up? 606 00:44:32,760 --> 00:44:38,440 Has its pros is I can work mostly from home and I score higher margin books with a higher buy cost 607 00:44:38,440 --> 00:44:45,720 Of course, but sourcing bulk buys and thrift stores has the volume aspect therefore more sales and cheaper books would love your opinion on this 608 00:44:46,040 --> 00:44:52,360 Whether I should keep rolling my dollars into higher margin books or keep investing in low cost inventory that will make me less 609 00:44:52,520 --> 00:44:57,880 Thanks again subscribe to the used book guy ps my inventory is at about 450 right now 610 00:45:00,200 --> 00:45:02,200 I mean you want to start you want me to 611 00:45:03,240 --> 00:45:07,160 Uh, I guess I go first since this is the last one and i'll wrap it up after you're done 612 00:45:07,160 --> 00:45:09,400 Um, I think it's a lifestyle choice, honestly, right? 613 00:45:09,880 --> 00:45:13,080 Everybody has different circumstances if I didn't have you know 614 00:45:13,080 --> 00:45:17,720 The amount of sources I had or the relationships I had and 100% I would dabble in 615 00:45:17,720 --> 00:45:23,720 You know the amazon amazon the ebay to amazon flips because if I could still have a profitable business 616 00:45:23,720 --> 00:45:28,920 But like you said it just costs more money and it's tough kind of having both right because you're used to going in 617 00:45:29,320 --> 00:45:31,640 And paying 50 cents for a book, right? 618 00:45:31,640 --> 00:45:36,600 Well when you're doing online arbitrage all of a sudden that 50 cents might be 20 dollars you're paying for a book 619 00:45:36,600 --> 00:45:41,560 So it's like a mindset switch. You got to be able to flip on and off if you're juggling both 620 00:45:41,960 --> 00:45:44,520 But you have to you know, what works better for you? 621 00:45:44,520 --> 00:45:46,200 Do you value your time more? 622 00:45:46,200 --> 00:45:51,560 Do you you don't mind going out the thrift stores maybe going to thrift stores is like the part that really you enjoy, right? 623 00:45:51,720 --> 00:45:58,360 Maybe it's not all about just the higher margins. Maybe it's being out being active going out. Maybe finding something for yourself 624 00:45:58,760 --> 00:46:03,880 Uh, maybe finding something that isn't media to sell or maybe you collect some kind of stuff that you look for when you're out 625 00:46:03,880 --> 00:46:07,800 In the thrift store. I think it really I don't think there's a wrong answer or a right answer with this 626 00:46:07,800 --> 00:46:11,480 I think it's just a personal choice of what you want your business to look like 627 00:46:11,560 --> 00:46:17,640 I do think you can mix both but I would just you know word of caution is you just got to balance both, right? 628 00:46:17,640 --> 00:46:19,080 If you're going to have both 629 00:46:19,080 --> 00:46:23,320 Don't expect to get the the highest results from either or because your time is split 630 00:46:23,320 --> 00:46:25,480 You're not dedicating all your time to this one or that one 631 00:46:25,800 --> 00:46:30,360 So you got to expect to kind of get 50 results from both of them instead of getting 100 percent 632 00:46:30,360 --> 00:46:33,800 And zero percent because you're only focusing on one of them 633 00:46:34,840 --> 00:46:41,960 So there are multiple business models and here's the fun part as mike just mentioned they all work and it is a lifestyle choice 634 00:46:42,040 --> 00:46:44,040 They really do so you can go 635 00:46:45,320 --> 00:46:47,320 um low margin 636 00:46:47,800 --> 00:46:49,800 High volume that model works 637 00:46:50,440 --> 00:46:52,280 You can go 638 00:46:52,280 --> 00:46:55,400 High volume high margin that also works 639 00:46:55,400 --> 00:47:03,160 Um, you can get but i'm trying here's here's what i'm trying to transition to high volume high margin 640 00:47:03,480 --> 00:47:07,640 That's where i'd like to be because I know how to list a lot, but I learned it on the 641 00:47:08,360 --> 00:47:14,520 Low margin faster turnover books the higher margin you go the less frequently they will sell at least on ebay 642 00:47:14,520 --> 00:47:16,520 But when they sell it's a lot of money. Yay 643 00:47:17,000 --> 00:47:20,300 Uh, kayla from antique books. He does that model specifically 644 00:47:20,300 --> 00:47:26,540 Uh, I think he has a minimum threshold of it. It's not coming in my store unless it's worth 40 dollars or more. However 645 00:47:27,100 --> 00:47:32,220 He's publicly transparent with it. He does he taps into what I do. He sells some paperbacks, too 646 00:47:32,940 --> 00:47:36,940 With his christian fiction stuff because they have a faster turnover for him 647 00:47:37,340 --> 00:47:41,420 Um, and that keeps the sale steady. So I think it's a balancing act now 648 00:47:41,980 --> 00:47:43,980 And very much a lifestyle choice 649 00:47:45,420 --> 00:47:49,660 What I do is a bit of a grind and i'm trying to grind less because I ain't getting any younger 650 00:47:49,660 --> 00:47:52,460 I got some gray in this handsome beard. I got over here 651 00:47:53,100 --> 00:47:56,300 Um, my back don't work as well as it used to kind of deal 652 00:47:56,620 --> 00:48:01,340 Mike's been going up and down three flights of stairs once upon a time. He ain't getting any younger either 653 00:48:01,820 --> 00:48:06,780 So I think the low margin fast turnover is very much a young gentleman's game 654 00:48:07,660 --> 00:48:12,060 Um, you can get away with that. You can hustle even grind but as you start to creep up there 655 00:48:12,700 --> 00:48:16,380 You're going to be doing this when you're 80 years old question mark. No 656 00:48:16,380 --> 00:48:19,020 Um, even if you got a fleet of employees 657 00:48:19,740 --> 00:48:22,140 That's a that's a rough racket. So I think 658 00:48:23,260 --> 00:48:29,900 Figuring out what you want to do business-wise even if you start in one and transition to the other because I learned a lot doing what I do 659 00:48:30,380 --> 00:48:32,380 Uh, and i'm still learning. Um 660 00:48:33,660 --> 00:48:39,900 I'll always be learning always be educating always be transitioning always be pivoting and always be willing to adjust 661 00:48:40,540 --> 00:48:44,540 People that get set in their ways it never adjusts because they think they know better 662 00:48:44,540 --> 00:48:46,780 They're going to go out of business one day. Um 663 00:48:47,260 --> 00:48:50,940 Just how it is even if you're at the top of your field, you know it all right 664 00:48:52,140 --> 00:48:53,340 Do you 665 00:48:53,340 --> 00:48:57,340 You're at the top. There's always another thing to know even if you're at the top of your field 666 00:48:57,340 --> 00:48:59,340 There's always an extra mile to go 667 00:48:59,900 --> 00:49:02,860 I um, I think you hit it right on the head. It's like 668 00:49:03,420 --> 00:49:05,740 I think you can have both 669 00:49:06,300 --> 00:49:09,020 Which you have you still you're still gonna have to favor one or the other 670 00:49:09,020 --> 00:49:13,020 I don't think there's no such thing as a 50 50 display, right? You can't do everything 671 00:49:13,020 --> 00:49:16,300 you can't give ebay the same effort you give amazon it's just unrealistic because 672 00:49:17,100 --> 00:49:20,060 Deep down right you you prefer one way or the other 673 00:49:20,060 --> 00:49:25,100 I mean, it's just one of those things you just got to sit down and say well what what do I get more enjoyment out of? 674 00:49:25,340 --> 00:49:27,340 And yes, you're buying the stuff and 675 00:49:27,900 --> 00:49:30,940 I said it earlier if you know if you're getting a low profit stuff 676 00:49:31,500 --> 00:49:35,420 Just leverage the buyback companies if you enjoy doing oh a more say hey 677 00:49:35,740 --> 00:49:38,620 I'm gonna get that i'm still gonna do both buys because i'm still gonna make money 678 00:49:38,620 --> 00:49:41,340 You'll still get the big hits right that you can send in your stuff 679 00:49:41,340 --> 00:49:45,100 But you're not going to have as much of it and then everything else goes to buyback company 680 00:49:45,340 --> 00:49:50,940 So that kind of makes it almost foolproof and then you can focus on the oa but you still have the fun of going out 681 00:49:51,260 --> 00:49:54,460 Doing bulk buys doing thrift in here and there if you're going to do it the other way 682 00:49:54,780 --> 00:50:00,220 I would say hey send in everything you can that's going to make you the money volume wise and then you say all right 683 00:50:00,220 --> 00:50:03,740 Well, i'm going to set a hundred dollars aside for online arbitrage for this week 684 00:50:03,740 --> 00:50:05,260 And then you spend a hundred dollars 685 00:50:05,260 --> 00:50:09,500 And then you see where you can take your hundred dollars and kind of grow that hundred dollars and then you can 686 00:50:09,500 --> 00:50:13,740 Get that hundred dollars and kind of grow that hundred dollars into an online arbitrage business 687 00:50:13,740 --> 00:50:17,660 Just kind of maybe four hours a week six hours a week something like that 688 00:50:17,660 --> 00:50:20,060 So there is ways you can do it, but either way you're going to have to 689 00:50:20,700 --> 00:50:22,700 You're going to have to take a side unfortunately 690 00:50:23,420 --> 00:50:26,540 You're going to enjoy one more than the other and that's perfectly fine 691 00:50:26,860 --> 00:50:28,380 But if you have both 692 00:50:28,380 --> 00:50:32,700 And you want to keep both or maybe you prefer, you know one compared to the other 693 00:50:33,020 --> 00:50:36,140 And you want to have them both make the other one you don't enjoy as much 694 00:50:36,140 --> 00:50:41,260 Painless is possible like I do with ebay it exists. I take my ebay money 695 00:50:41,260 --> 00:50:47,180 It turns into amazon money, but my ebay life is not johnny b's ebay life. I do it once a week 696 00:50:47,660 --> 00:50:53,260 Draft it out and I wash my hands of it and that's why ebay still exists for me. I wouldn't do it. Otherwise 697 00:50:54,300 --> 00:50:57,340 Right, like for me, here's my thing. I like to get a 20 bill 698 00:50:57,660 --> 00:51:02,140 I'm not doing this right now, but I like to get a 20 bill from every cell on ebay. That'd be great 699 00:51:02,140 --> 00:51:06,300 However, I know the kind of coupon I run it's a buy two get two 700 00:51:06,780 --> 00:51:10,700 So I don't need every item to sell for 20 dollars. So that brings my 701 00:51:11,660 --> 00:51:13,100 listed number down 702 00:51:13,100 --> 00:51:15,100 I think i'm around 703 00:51:15,260 --> 00:51:19,820 20 listed price, which is you're not clearing 20 on ebay if you sell it for 20 you're not 704 00:51:20,540 --> 00:51:25,420 But that's a lot better margin than what i'm dealing with right now with my high str low margin stuff 705 00:51:26,140 --> 00:51:28,060 um 706 00:51:28,060 --> 00:51:30,060 And I think 707 00:51:30,060 --> 00:51:33,740 I think it's a great question. Um, I would say age is a factor to deal with it 708 00:51:33,740 --> 00:51:36,620 If you're 70, I wouldn't do what I do. No, don't do that man. You can do better go higher tier kind of thing 709 00:51:37,420 --> 00:51:39,420 um 710 00:51:39,500 --> 00:51:43,340 My thing on that at least in ebay land is how to get those frequently. That's that's my 711 00:51:43,960 --> 00:51:47,340 Exploratory mission this year is how do I get them frequently? 712 00:51:47,980 --> 00:51:50,700 Or how do I get a lot of silver items with high str? 713 00:51:50,700 --> 00:51:53,260 I don't mind silver items going to my stores the bronze items 714 00:51:53,820 --> 00:51:56,620 I don't mind silver items going to my stores the bronze items 715 00:51:56,620 --> 00:52:00,300 I do there. Yeah, see what I can do with them. See if I can sell them 716 00:52:00,620 --> 00:52:04,860 You have to have a way to get rid of the the bronze items somehow some way even if it's a buyback program 717 00:52:05,580 --> 00:52:09,420 Even if you got an antique mall and you just shove it in your assigned 718 00:52:10,060 --> 00:52:16,700 Square footage you run a garage sale you run a church rummage sale if you're in networks with the church or something 719 00:52:17,420 --> 00:52:23,180 Um, you gotta figure out a way to get rid of those bronze items somehow some way and if your model is to list those items on 720 00:52:23,180 --> 00:52:26,700 Ebay and see what shakes more power to you. Just be prepared for a grind 721 00:52:27,660 --> 00:52:29,180 I I do 722 00:52:29,180 --> 00:52:34,620 To kind of capitalize on what you're saying. I one thing I do think is heavily heavily heavily 723 00:52:35,580 --> 00:52:37,980 underutilized in all of reselling 724 00:52:38,620 --> 00:52:44,220 Is partnering with other resellers to move stuff that doesn't have a worth to you 725 00:52:44,620 --> 00:52:48,140 But does to them and vice versa kind of like, you know 726 00:52:48,140 --> 00:52:53,180 How I send you all the paperbacks that I would literally, you know burn thrown to you 727 00:52:53,180 --> 00:52:57,020 It's junk and just like we were talking about for the call. I have a guy coming to get my junk 728 00:52:57,020 --> 00:53:00,540 Well, johnny b has junk plaster. No, I do. I have a junk pile 729 00:53:01,020 --> 00:53:06,060 So yeah, like if you're if you want to do volume and focus on oh a then have a johnny b, right? 730 00:53:06,060 --> 00:53:09,100 Find somebody I mean you've been in the group for a year now 731 00:53:09,100 --> 00:53:12,540 So, you know, you can reach out to anybody be like, hey, here's here's what I have extra 732 00:53:12,940 --> 00:53:14,940 Are you interested in taking them off my head? 733 00:53:14,940 --> 00:53:18,460 And you would be surprised uh, the people in the group, you know 734 00:53:18,460 --> 00:53:22,940 I give away basically my my disc and all my paperbacks to you and just partner up with somebody 735 00:53:22,940 --> 00:53:25,500 So you don't have to deal with it because that's when you get overwhelmed 736 00:53:25,500 --> 00:53:32,460 If you do, you know want to continue both buys is just the sheer volume of staring at all the stuff all of your duds 737 00:53:33,020 --> 00:53:35,580 But your duds are not necessarily their duds 738 00:53:36,220 --> 00:53:41,500 Right, and I got some i'm pretty sure I got some greens in my junk pile that are garbage in ebay land 739 00:53:41,500 --> 00:53:42,700 They are not good 740 00:53:42,700 --> 00:53:45,340 For amazon dollars on ebay and they're going for like four bucks 741 00:53:45,980 --> 00:53:50,460 Oh, that's why ebay to amazon flips is so pro. Yeah, because it exists. It's there 742 00:53:51,900 --> 00:53:55,340 Yeah, like readers digest and time live that's junk for me 743 00:53:55,340 --> 00:53:58,380 I do not want to put that in my store. It's junk junk junk 744 00:53:59,020 --> 00:54:06,620 Yeah, all right. As always we appreciate everybody listening and watching if you're over on the youtube and we will talk to you all next week 745 00:54:07,980 --> 00:54:09,980 Thanks for listening to another episode of the 746 00:54:09,980 --> 00:54:15,580 resellers mindset podcast today's full episode and all previous episodes are available to all youtube members 747 00:54:16,140 --> 00:54:20,300 Along with the weekly zoom call and private discord head on over to youtube.com 748 00:54:20,300 --> 00:54:39,980 Backslash to use book guy and consider joining for as little as 2.99 a month