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Welcome back to another episode of the Resellers Mindset Podcast.

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My name is Mike, also known as the used book guy on YouTube,

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along with my friend and fellow full-time reseller, Johnny B.

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We help people start and grow their reselling businesses from the ground up.

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We also have a weekly zoom call and private discord for all YouTube members.

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Head on over to youtube.com backslash use book guy to join the channel and gain

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access to the full length podcast zoom call and private discord today.

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Let's get into this week's episode.

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What is up everybody? Welcome to episode 31 of Resellers Mindset Podcast.

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I don't need Johnny B's help today.

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I can do all 31 myself.

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We got a pretty exciting episode today.

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We're kind of, I've been thinking about this, right?

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Like if we had to start back from nothing, how will we go about building

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the business we have today?

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Or maybe, you know, maybe it doesn't have to be books.

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Maybe you want to do clothing, shoes, something like that.

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So I figured we'd break it down.

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I think three months, month by month, what we would do each month to

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build a reselling business in the category of our liking.

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There's a good stepping stone starting point.

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I think by three months, you kind of know where you should, where you're at

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with your business and where you can go from here.

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So day one, I'm going to, I'm going to ask you a question right off the beginning here.

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So is your store name important on eBay?

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It's not important on Amazon.

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Is it important on eBay?

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It's like, if I'm going to sell sneakers, should I be like the used Nike guy?

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Does that matter?

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It matters, but not in the way you're thinking.

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It matters.

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The big push you want to get followers because you want to send the newsletters

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through eBay to get more repeat buyers.

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Because once they're a follower of yours, they're going to get your

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newsletters, you can send them specific coupons because that just increases

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more buying power, that you're forcing the traffic because they're getting emails

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or they're getting eBay notifications from you.

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So having a shorter store name when either in the thank you note or when

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you're sending the messages is very important.

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I didn't know this very early on.

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I have a really long store name.

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It's really long.

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It's almost, I think it is at the character limit, but I did that.

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I created my store name very fun.

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Like I took a known book character.

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I put a fun little adjective into it.

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Instead of bookstore, I went with bookshop because I was accounting

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for foreign buyers as well.

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It sounds fancy to Americans, but it's also the word that the UK people use.

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They use the word bookshop instead of bookstore.

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Same thing in Australia for my Australian buyers.

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So I went through a methodical process without any rhyme or reason

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to what's good for eBay.

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I went, what was good for the customer kind of deal.

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If I had to do it again, I would have picked a much shorter name,

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especially when I send people the URL.

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Cause the URL is like a foot long.

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Is there any restrictions to the store name?

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Like, can I just, can my eBay store name be like Arnold Schwarzenegger or Taylor

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Swift, like just the name?

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Like, is there restrictions?

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Like, can, is it copy like written stuff?

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Like I can't be George Clooney on eBay.

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So like as my store name, like, cause I'd be curious, right?

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Somebody's like, Oh wait, George Clooney is selling this.

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Like, I feel like, Hey, all of a sudden they think I'm George Clooney

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and I'm in the penthouse suite and I'm selling off my old crusty books

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as George Clooney, but that's not the case.

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Um, I know they have limits on your username, but your store name is different.

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Right.

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I don't, I don't think there is off top of my head.

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I'd have to look again to see, let's see.

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I bet George Clooney, one, two, three, four, five, six, seven, eight, nine,

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10, they're probably all taken.

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There's probably multiple George Clooney cones, cloney George Clooney clones.

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But I think overall, I think to, I think the takeaway is that like your

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name really doesn't matter, but I can see a lot of people getting called up with

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the name, like, Oh my God, what should the name be?

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Like the name is really not that important.

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It's more important for you to kind of jump in and just start listing

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items and selling items.

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So we figured the name doesn't matter.

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It is what it is.

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Don't do anything offensive.

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Uh, if anything, just keep it simple, right?

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You don't gotta be anything special or, you know, I'm not the Mike use book

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guy store shop on eBay or anything like that.

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I don't try to drive sales through, you know, other platforms.

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So I don't think you should get caught up in that make a store.

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Now we're going to jump into like, I don't know, like money, like if you're

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going to start a business, everybody has a different starting points.

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Most people kind of started on the side.

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I don't think most people kind of jump into this with no experience

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and like $10,000, right?

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And they had never done resale in their life.

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I think most people are doing this on the side, in addition to their, their

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job, part-time, full-time, or they have a limited income, maybe their stay at home

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parent, so starting out money can be an obstacle, but there's ways you kind of.

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Can get around spending a lot of money.

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You want to throw some, some tips out there if you want to be cheap and

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you want to start a reselling business.

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If you want to be cheap, um, don't go buy out, don't go out and buy a lot of fancy

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camera and lighting equipment.

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It's not needed.

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Um, that may be needed if you're selling like Gucci sweaters or Louis Vuitton

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type stuff, but for what the stuff you're going out, you're buying a used item.

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And the public perception of what eBay is, the garage sale, the internet, the

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expectation beyond as long as it's not blurry, it's okay.

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You can invest money later on to get fancier light boxes and, or improve

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your lighting and your photo station.

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Sure.

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Uh, same thing with software.

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I mean, there's lots of third party software programs you can get as well.

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That quote unquote enhance your listening.

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It's totally another thing.

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You don't need any of that.

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You don't need a store subscription starting out either.

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Um, you can build into that later and that just helps you out with your

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final value fees, essentially.

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Um, you don't need to go spend a whole lot of money on boxes.

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There's plenty of free boxes for your shipping supplies, which you may have

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to spend money on would be tape and that's okay.

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So let's say you weren't getting a store description.

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Cause that's what I spend my store subscription money on.

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Cause I get a coupon with your subscription once a quarter.

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Cause I get a coupon with your subscription once a quarter is tape.

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Um, you, I would not go down to the post office and buy their $5 rolls of tape.

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You can go to Dollar Tree.

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You can go to Amazon.

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Um, if you figure out a place that you can get a discount in bulk, but again,

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you're starting out, you don't need to do the bulk purchase discount yet.

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Um, even at yard sales or auctions, I see office supplies at those places.

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That's great.

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You can get, I don't know, a whole box of tape.

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There'll be different kinds of tape, very rarely are the same, like

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Scott's tape kind of deal, like a couple of bucks, maybe five bucks.

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And that's way cheaper than even Dollar Tree or Dollar Store, whatever

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dollar saving store you go to.

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Yeah.

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It's funny because, uh, somebody actually in our area posted on Facebook that

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they needed boxes and, uh, like moving supplies.

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And I actually took them a bunch of boxes and a few rolls of tape for nothing.

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So there you go.

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You don't have fun moving.

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This is extra stuff I got.

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So there's, there's so many ways.

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I had to start back, like when it comes to starting out and like finding inventory

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and buying inventory, depending on what category category you're in, it can be

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expensive and I think I would literally just take the route because this is

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something I'm building, right?

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You're building a business here.

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So this is, we just walked through the door the first day, the first week,

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first month, and you got to be thinking long-term, right?

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So we don't want to spend a lot of money upfront because you got to find out if

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this is something you enjoy doing.

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Some people get into reselling and they're like, all right, you know, maybe

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this isn't for me down the road.

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So I would be super cheap when it comes to finding inventory, freebie alerts,

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right?

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That app, so many people have made so much money off the freebie alerts app.

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Hold all the free items in your area.

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You can set up hot words, keywords for me.

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It's like books, CDs, DVDs.

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If you're doing clothes, shoes, anything like that, yard sales, garage sales,

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flea market, you want to get this stuff for as cheap as you can.

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Sure, you're not going to have a lot of the home run starting out, right?

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You're not going to, you know, go to a Goodwill and you're going to pay $30 for,

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you know, the first item you're going to sell on eBay, you're not going to pay

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$30 for a pair of Nike shoes, right?

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That's not the way you want to build.

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You kind of want to, all right, let me get my foot in the door.

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Let me list some stuff that I got for next to nothing.

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So even if I sell it for $20, I'm still making, you know, 10, 12 bucks after

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fees and after shipping.

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I think that's kind of a point where people kind of get called out right.

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They're like, I got all this money and I want to go spend it on inventory.

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Well, you don't need a printer either.

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Cause that's the big pitch is to get a thermal printer.

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Yes, it is worth it when you get it, but you don't need it right away.

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Even if you've got to go down to the library and use their printer, that's okay.

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That's a big cost savings.

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You don't need no damn thermal printer.

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I used a normal printer I had from like 2006 for the first five years of me selling

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online.

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Yeah, it sucked.

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But guess what I'm cheap and I wanted to save money.

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So you don't need a Rolo.

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You don't need a DIMO.

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You know, you just, you just need something that works.

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And if you ain't got that, then you can even take the QR codes into the post

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office and they can print you the label right there.

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Yeah, they do that now too.

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So you don't even need to go to the library.

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You just go, you're trading time for money.

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Just realize that you need the money and you're just starting out.

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Do it.

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Absolutely.

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So yeah, I would get in the mindset of like just trying to find inventory and

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in places where it's, you know, it's really, really cheap.

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Rummage sales, church sales.

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I mean, I even thought about this, right?

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You know, like at least around me, I have all those clothing and shoe donation bins.

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How many times do I drive by those?

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And there's like 10 trash bags piled up outside.

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Okay.

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Okay.

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All right.

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So what's stopping me from pulling over throwing those 10 free trash bags of merchandise

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into my car?

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Clearly to people that have the bin don't care because the bins already overflowing.

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Right?

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So I'm just helping the neighborhood look a little cleaner and I got 10 trash bags

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of inventory and might not be the best stuff.

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Whatever I don't want, I can take right back and put it right back where I got it from.

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But I'm just thinking outside the box here.

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Like we got to, we got to start changing the way we think, especially if we just

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starting out a business.

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If you're just starting out today, it was different even a couple of years ago when

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I started.

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Okay. In good conscience, I can't recommend thrifts anymore.

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The prices have changed dramatically.

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So, but that's going to change all the time.

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I'm not saying avoid them altogether, but that should be your last stop.

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The last thing you do.

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I agree with Mike, rummage sales, estate sales, auctions, garage sales, storage unit sales.

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Those should be your top of your priority list of where to go for stuff.

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Because you're going to pay less.

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You're going to pay what you were paying at thrift stores two, three, five years ago.

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Going into a thrift store, I mean, your area is like $2 or $3 or more now.

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Mine's, mine's hovering closer to a dollar for a paperback.

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A few places are still at the, where when I started a dollar for hard 50 cents for paper,

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which is still good, decent, but you're going to get quarter

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or less or maybe even 50 cents for hardbacks.

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These other places, even if you buy in boxes or bulk kind of deal.

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I would be so cheap.

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Like if I had to start out again, I would be more, more cheap than I am today.

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I would literally have conversations.

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00:11:28,760 --> 00:11:29,800
And I think that's another thing, right?

239
00:11:29,800 --> 00:11:33,320
If this is something you think you're going to take seriously from day one,

240
00:11:33,320 --> 00:11:37,720
the first time you go into that store, that rummage sale, that garage sale,

241
00:11:37,720 --> 00:11:39,640
you have conversations with people, right?

242
00:11:39,640 --> 00:11:44,440
Hey, you know, yeah, this is what I do to support my family and my cats.

243
00:11:44,440 --> 00:11:47,160
I start up telling people, hey, you know, this is what I do to support my family.

244
00:11:47,160 --> 00:11:48,600
Well, it's what I do to support my family.

245
00:11:48,600 --> 00:11:51,960
I'm sure I don't tell them I'm selling old crusty books, but it's like,

246
00:11:51,960 --> 00:11:53,480
if they ask, oh, what are you buying that for?

247
00:11:53,480 --> 00:11:57,640
I'm like, oh yeah, you know, I have a resale business and I do this to support my family.

248
00:11:57,640 --> 00:12:02,120
And just having those conversations and relationships are going to open doors

249
00:12:02,680 --> 00:12:06,040
down the road for your business that they're going to be invaluable.

250
00:12:06,040 --> 00:12:09,000
And I think at least for me, when I started, I really didn't care.

251
00:12:09,000 --> 00:12:10,840
Right. I go in, I scan, I'd be out of there.

252
00:12:10,840 --> 00:12:12,360
I didn't want to deal with nobody.

253
00:12:12,360 --> 00:12:13,640
Now I'm kind of the opposite, right?

254
00:12:13,640 --> 00:12:15,720
I want to somebody ask me about what I'm doing.

255
00:12:15,720 --> 00:12:17,160
Hey, this is what I do.

256
00:12:17,160 --> 00:12:20,680
You know, you know, anybody that's selling media, I'm the guy for it.

257
00:12:20,680 --> 00:12:23,880
I think relationships are the future of reselling.

258
00:12:23,880 --> 00:12:27,320
The only people that are going to survive are the people that have the relationships, right?

259
00:12:27,320 --> 00:12:31,320
The vendors, the libraries, ask any huge seller.

260
00:12:31,320 --> 00:12:32,600
They're not out in thrift stores.

261
00:12:33,320 --> 00:12:37,480
There's no huge seller that's just in thrift stores seven days a week.

262
00:12:37,480 --> 00:12:39,560
They have the inventory come to them.

263
00:12:39,560 --> 00:12:41,880
And it's kind of put things in perspective.

264
00:12:42,520 --> 00:12:45,960
Thrift stores can get you to a certain point, but after that, you're going to need something else

265
00:12:45,960 --> 00:12:46,680
to kind of grow.

266
00:12:46,680 --> 00:12:49,640
So I would work on building relationships early on.

267
00:12:49,640 --> 00:12:53,000
So now we're going to kind of get into, okay, we got this stuff for cheap.

268
00:12:53,560 --> 00:12:55,560
The next step is going to be listing it.

269
00:12:55,560 --> 00:12:59,640
Okay. Now there's a million different ways you can list things on eBay.

270
00:12:59,640 --> 00:13:01,160
Amazon's kind of straightforward.

271
00:13:01,160 --> 00:13:05,560
So when you're starting out on eBay, you know, there's a lot of details you can do.

272
00:13:05,560 --> 00:13:07,240
There's a lot of things you can do right.

273
00:13:07,240 --> 00:13:11,640
You can do wrong, but my advice is just list the stuff, whether it's perfect,

274
00:13:11,640 --> 00:13:18,280
whether it's the perfect Johnny B listing or the half-butted Mike the Use book guy listing.

275
00:13:18,280 --> 00:13:21,560
As long as you have things listed and you're promoting your listings,

276
00:13:21,560 --> 00:13:23,480
you're going to see results at some point.

277
00:13:23,480 --> 00:13:25,640
You know, it's not like they have to be perfect.

278
00:13:25,640 --> 00:13:30,520
So I think a lot of people get caught up with everything has to be perfect before I can

279
00:13:30,520 --> 00:13:33,240
kind of make this listing live, right?

280
00:13:33,240 --> 00:13:36,760
That's kind of like how you are today, but I don't think you can have the JB mentality

281
00:13:36,760 --> 00:13:37,240
day one.

282
00:13:37,240 --> 00:13:41,880
Like, I don't think that works because it's just analysis, paralysis analysis.

283
00:13:42,680 --> 00:13:45,080
You can, you're just going to list five items a day.

284
00:13:45,800 --> 00:13:46,840
You're not going to do what I do.

285
00:13:47,800 --> 00:13:49,720
You can have, you can go into the same mentality.

286
00:13:49,720 --> 00:13:53,400
Just realize you need to start very, very small.

287
00:13:53,400 --> 00:13:54,280
Like, I'm not kidding.

288
00:13:54,280 --> 00:13:56,680
If you want to do my kind of listings, start at five.

289
00:13:57,400 --> 00:14:02,680
And when that feels comfortable or it's taking you 30 minutes to do five.

290
00:14:02,680 --> 00:14:03,000
Okay.

291
00:14:03,000 --> 00:14:04,680
Maybe you grow into six.

292
00:14:04,680 --> 00:14:06,920
Don't do a big jump from five to 20.

293
00:14:07,480 --> 00:14:10,200
You're going to hurt yourself and cry.

294
00:14:11,160 --> 00:14:13,640
I know like you hear a lot like, oh, I got a list every day.

295
00:14:13,640 --> 00:14:14,520
I got a list every day.

296
00:14:14,520 --> 00:14:17,160
Well, starting out that might not be feasible for you.

297
00:14:17,160 --> 00:14:21,880
So maybe if you can set one day aside where you create some drafts, so you have them to

298
00:14:21,880 --> 00:14:24,360
launch for the week, I think that would be the best approach.

299
00:14:24,360 --> 00:14:26,920
Don't get caught up with having to go into the eBay every day.

300
00:14:26,920 --> 00:14:30,760
Like people have obligations, especially if you're working full time or you have kids.

301
00:14:30,760 --> 00:14:35,800
It's hard to kind of put time out to build something on the side, especially if it's

302
00:14:35,800 --> 00:14:37,720
something you're not getting no results from, right?

303
00:14:37,720 --> 00:14:39,080
We're still brand new to this.

304
00:14:39,480 --> 00:14:41,800
We're month one in our reselling business.

305
00:14:41,800 --> 00:14:46,040
So it's like, well, I'm putting time in, but I'm not getting nothing back.

306
00:14:46,040 --> 00:14:48,680
So that's kind of going to take me to the next thing is like, what do you think the

307
00:14:48,680 --> 00:14:53,800
reality is of like, when should you like, I don't know, get money back.

308
00:14:53,800 --> 00:14:57,720
When, when should you feel like you should be getting paid back if you just started

309
00:14:57,720 --> 00:14:58,040
today?

310
00:14:58,040 --> 00:15:01,240
Like how long for you to get a paycheck for you to be comfortable with?

311
00:15:04,440 --> 00:15:11,560
I think early on in the first three months, this is assuming you got a real job and you

312
00:15:11,560 --> 00:15:13,560
haven't done, you haven't transitioned to full time.

313
00:15:13,560 --> 00:15:14,280
You don't need it.

314
00:15:14,920 --> 00:15:16,120
So I'm going to answer it in two parts.

315
00:15:16,120 --> 00:15:17,000
One for the guy that needs it.

316
00:15:17,000 --> 00:15:19,560
When the guy that doesn't need the one, the guy that doesn't need it, pump it all back

317
00:15:19,560 --> 00:15:20,840
in for a year.

318
00:15:20,840 --> 00:15:27,880
You're that will enable you, even if you don't reinvest all the money back into the

319
00:15:27,880 --> 00:15:29,960
business right away, you have money sitting around.

320
00:15:29,960 --> 00:15:33,640
It's okay to have that money sitting around for that right deal at that right time.

321
00:15:33,640 --> 00:15:39,080
It comes up maybe once or twice a year where if you were to cut yourself a paycheck and

322
00:15:39,080 --> 00:15:43,560
you, I don't know, spend it on whatever you spend money on, fun times in Vegas and stuff.

323
00:15:43,560 --> 00:15:48,040
You, you, you're going to exclude yourself from those deals.

324
00:15:48,040 --> 00:15:54,040
Now, if the person that needs it as their paycheck answers a little different, pay yourself

325
00:15:54,840 --> 00:15:56,680
what your means are today.

326
00:15:56,680 --> 00:15:59,080
Don't change your lifestyle today.

327
00:15:59,080 --> 00:16:04,040
And it's the same thing reinvested all back in beyond that, pay your base bills, whatever

328
00:16:04,040 --> 00:16:06,520
you need to live on and pump this back in.

329
00:16:06,520 --> 00:16:09,000
Cause this is, this is your stock market.

330
00:16:09,000 --> 00:16:11,160
This is your real estate investment.

331
00:16:11,160 --> 00:16:13,560
This is your investment in yourself.

332
00:16:13,880 --> 00:16:16,840
That's why you got to put it back in because you get what you need to get.

333
00:16:16,840 --> 00:16:18,440
You get what you put into it.

334
00:16:18,440 --> 00:16:23,560
And if you're just taking out all the time or you're taking out more than you really

335
00:16:23,560 --> 00:16:26,760
need, it's, it's not, it doesn't become an investment anymore.

336
00:16:26,760 --> 00:16:33,400
It becomes a, a paycheck to do funsies things with.

337
00:16:33,400 --> 00:16:35,240
And if you want to do funsies things, that's okay.

338
00:16:35,240 --> 00:16:39,240
I'm not saying don't do that, but if you really want to grow it, that would be the way I would

339
00:16:39,240 --> 00:16:42,680
take it and then gradually grow your lifestyle over time.

340
00:16:42,680 --> 00:16:43,000
Okay.

341
00:16:43,000 --> 00:16:48,840
The business is built up enough where I can maintain my operations where maybe I can get,

342
00:16:49,560 --> 00:16:51,000
go from a car to a truck.

343
00:16:51,000 --> 00:16:56,200
Cause A that enhances my business B it's a newer car and more reliable or a home.

344
00:16:57,160 --> 00:17:00,440
You've been living in that apartment of yours for a couple of years now.

345
00:17:01,880 --> 00:17:02,920
You and the Mrs.

346
00:17:02,920 --> 00:17:04,360
Side, Hey, we need a kid.

347
00:17:04,360 --> 00:17:06,440
This apartment can't take a kid.

348
00:17:06,440 --> 00:17:07,720
We need a home now.

349
00:17:07,720 --> 00:17:08,200
So, okay.

350
00:17:08,200 --> 00:17:09,240
Can the business do it?

351
00:17:09,240 --> 00:17:13,400
You, and if you built it up and you plan it out ahead of time, getting a house,

352
00:17:13,400 --> 00:17:17,480
ain't a problem at that point, unless you've been going out to stick dinners every,

353
00:17:18,120 --> 00:17:21,480
every day eBay pays you out or Amazon pays you out.

354
00:17:21,480 --> 00:17:27,160
So I truly believe in putting it back in until you get to that point in staging your life where

355
00:17:28,600 --> 00:17:31,560
you're forced to make a lifestyle change is the best way I can put it.

356
00:17:32,280 --> 00:17:35,800
I think I'm going to preface this by saying, if you start on Amazon today,

357
00:17:35,800 --> 00:17:40,600
you are not getting paid probably for at least 60 days.

358
00:17:42,200 --> 00:17:45,160
Maybe a little bit less if you're lucky, but it could be 90 days.

359
00:17:45,160 --> 00:17:47,320
Now eBay, I'm curious what's your take on this?

360
00:17:47,320 --> 00:17:54,520
If I started eBay account today, I list, I list my Bluetooth scanner here today.

361
00:17:54,520 --> 00:17:55,800
It sells today.

362
00:17:55,800 --> 00:17:57,080
I ship it tomorrow.

363
00:17:57,720 --> 00:18:01,960
Does eBay hold funds as a new seller or do they see that I ship this?

364
00:18:01,960 --> 00:18:06,520
So I'm actually going to get paid when I should, even though I'm a brand new seller.

365
00:18:06,520 --> 00:18:07,560
You get paid the next day.

366
00:18:09,240 --> 00:18:13,400
I mean, weekends, of course, because the processing things are down,

367
00:18:13,400 --> 00:18:15,880
but you get paid the next day and they have a thing.

368
00:18:15,880 --> 00:18:18,680
If you want to lose 3% of your money, they'll pay you within 10 minutes,

369
00:18:18,680 --> 00:18:20,120
but they're taking 3% of your money.

370
00:18:20,840 --> 00:18:22,520
So that's kind of like food for thought.

371
00:18:22,520 --> 00:18:25,960
If you're kind of thinking about jumping into reselling on eBay or Amazon,

372
00:18:26,920 --> 00:18:31,320
even if you jump on, if I sold this on Amazon, you know, the same scenario,

373
00:18:31,320 --> 00:18:34,760
Amazon is going to wait for the return period to clear as a new seller,

374
00:18:34,760 --> 00:18:36,760
which is at least 30 days.

375
00:18:36,760 --> 00:18:38,520
And then that money will hit your account.

376
00:18:38,520 --> 00:18:41,240
And they still might keep a little bit in account reserves for you.

377
00:18:41,240 --> 00:18:44,200
So there is a huge difference if you're brand new,

378
00:18:44,200 --> 00:18:48,760
how quick you actually can get paid from the items you list and you actually sell.

379
00:18:48,760 --> 00:18:50,280
It's crazy to think about.

380
00:18:50,280 --> 00:18:53,320
We sell the same thing on eBay versus Amazon,

381
00:18:53,320 --> 00:18:55,240
the difference in how long it takes to get paid.

382
00:18:55,240 --> 00:18:56,840
So I think that kind of covers the first month.

383
00:18:56,840 --> 00:18:58,840
You want to get inventory for cheap.

384
00:18:58,840 --> 00:19:00,280
You kind of want to start listing.

385
00:19:00,280 --> 00:19:01,560
It doesn't have to be perfect.

386
00:19:01,560 --> 00:19:03,160
Your store name doesn't matter.

387
00:19:03,160 --> 00:19:05,000
We want to save as much money as we can.

388
00:19:05,000 --> 00:19:07,240
So now we're kind of into month two, right?

389
00:19:07,240 --> 00:19:09,480
Month two, you should already have sold a few items.

390
00:19:09,480 --> 00:19:11,560
You know, you're not going to sell all everything you,

391
00:19:11,560 --> 00:19:13,000
everything you find, you're not going to sell.

392
00:19:13,000 --> 00:19:14,200
That's just the reality of it.

393
00:19:14,200 --> 00:19:18,040
Things just don't sell or, you know, maybe you break even.

394
00:19:18,040 --> 00:19:20,680
So month two, you got a little bit of money coming in.

395
00:19:20,680 --> 00:19:23,800
Now you got to start thinking about, you know, hey, what do I want to do?

396
00:19:23,800 --> 00:19:24,840
Where do I want to take this?

397
00:19:24,840 --> 00:19:27,640
What does this business look like going forward?

398
00:19:27,640 --> 00:19:30,120
Because if it's something you want to take seriously,

399
00:19:30,120 --> 00:19:31,880
maybe you're selling Bluetooth scanners

400
00:19:31,880 --> 00:19:33,400
and you don't like selling Bluetooth scanners.

401
00:19:33,400 --> 00:19:35,400
So you're going to say, I'm not a big fan of this.

402
00:19:35,400 --> 00:19:37,080
So I'm going to switch to something else, right?

403
00:19:37,080 --> 00:19:40,520
Maybe I want to just want to sell, you know, t-shirts, something like that.

404
00:19:40,520 --> 00:19:43,160
So I think month two is kind of a point where you kind of can be like,

405
00:19:43,160 --> 00:19:47,160
hey, let me dabble in a few things, see what I enjoy selling,

406
00:19:47,160 --> 00:19:48,600
see what kind of gets me passionate.

407
00:19:48,600 --> 00:19:51,080
Because if you're passionate about something, you know,

408
00:19:51,080 --> 00:19:52,920
kind of like how you are with the sci-fi books,

409
00:19:53,480 --> 00:19:57,240
you're more inclined, you're more motivated to actually sit down and do the work.

410
00:19:57,240 --> 00:19:59,320
I mean, that's just, that's just the way of life.

411
00:19:59,320 --> 00:20:02,520
If you're motivated, if something interests you, sure, you're going to go do it.

412
00:20:05,400 --> 00:20:09,000
So we're talking about how to get motivated to you found what you want to do.

413
00:20:09,000 --> 00:20:10,840
Month two, yeah, you're getting a little bit of sales.

414
00:20:10,840 --> 00:20:12,680
Like what's your month two look like?

415
00:20:13,560 --> 00:20:17,880
My month two would be, okay, I know what I'm kind of doing now

416
00:20:19,800 --> 00:20:23,080
and identifying where I'm the slowest and weakest at.

417
00:20:23,080 --> 00:20:23,960
Is it my shipping?

418
00:20:24,680 --> 00:20:26,840
Do I need to work on how I ship things?

419
00:20:26,840 --> 00:20:31,720
Is it actually processing the stuff, the pre-processing and post-processing?

420
00:20:31,720 --> 00:20:36,120
If you don't know what post-processing that is, that's putting your inventory away, people.

421
00:20:36,760 --> 00:20:39,480
Don't just like shove it off to the pile, it gets that later.

422
00:20:39,480 --> 00:20:42,120
Because if you do that every day, it builds up, something sells,

423
00:20:42,120 --> 00:20:45,160
you got to look at this giant unorganized pile and try to find it

424
00:20:45,160 --> 00:20:46,680
so you can get shipping it down on time.

425
00:20:47,400 --> 00:20:51,000
And the shipping thing itself, not just the shipping station area,

426
00:20:51,000 --> 00:20:53,800
but what time are you going to the post office

427
00:20:53,800 --> 00:20:58,200
or what time are you putting your books out for front porch pickup?

428
00:20:58,200 --> 00:21:00,840
I'm not a porch pickup guy, I go to the post office every day.

429
00:21:01,640 --> 00:21:05,240
Because that's one of the bigger things with eBay, they have to have it scanned

430
00:21:05,240 --> 00:21:09,240
and I don't trust my rural carriers to scan it at the front porch and take it away from me.

431
00:21:09,240 --> 00:21:11,960
I trust myself to take it to the post office,

432
00:21:11,960 --> 00:21:14,680
look at the clerk if she scans each and every one of them

433
00:21:14,680 --> 00:21:16,440
and we chit chat while she's doing this.

434
00:21:16,440 --> 00:21:19,400
And if it's a large thing, like I have 60 packages or whatever,

435
00:21:19,400 --> 00:21:24,280
it could be a 15 minute conversation while I got like nine angry people behind me

436
00:21:24,280 --> 00:21:26,520
regretting that they came in at the time I did.

437
00:21:26,520 --> 00:21:29,240
And that's the thing, I talked with my postal clerk early on,

438
00:21:29,240 --> 00:21:32,600
when's the best time to come in where I don't interfere with your customers

439
00:21:32,600 --> 00:21:34,760
that makes your day easier and makes my day easier?

440
00:21:34,760 --> 00:21:37,640
Because I don't want to get there either where I'm at the back of the line.

441
00:21:37,640 --> 00:21:39,480
I want to walk in when there's nobody in

442
00:21:39,480 --> 00:21:41,960
and I don't care really if people come in behind me.

443
00:21:41,960 --> 00:21:43,160
Do you scan forms?

444
00:21:44,120 --> 00:21:46,760
No, no, I have them manually scan it each time.

445
00:21:46,760 --> 00:21:52,040
I treat it like it's Q4 one week before Christmas time every day of the week.

446
00:21:52,040 --> 00:21:54,680
Oh my God.

447
00:21:54,680 --> 00:21:55,240
Love it.

448
00:21:55,240 --> 00:21:55,880
I love it.

449
00:21:55,880 --> 00:21:57,320
I don't care who's behind me.

450
00:21:57,320 --> 00:21:58,040
I don't.

451
00:21:58,040 --> 00:21:59,320
Oh my God.

452
00:21:59,320 --> 00:22:00,760
You're going to go out in the parking lot one day,

453
00:22:00,760 --> 00:22:02,360
they're going to all be waiting for you.

454
00:22:02,360 --> 00:22:04,360
They're going to meet you up in the parking lot.

455
00:22:05,000 --> 00:22:06,440
No, but you know what?

456
00:22:06,440 --> 00:22:09,720
My metrics are 100% across the board, never had an issue.

457
00:22:09,720 --> 00:22:12,200
Dude, life isn't about metrics, all right?

458
00:22:12,200 --> 00:22:15,320
It's about convenience, all right?

459
00:22:15,320 --> 00:22:17,720
I mean, come on, put yourself in those shoes.

460
00:22:17,720 --> 00:22:22,440
How many packages have you shipped last year that they had to scan every single one?

461
00:22:22,440 --> 00:22:24,200
Probably like 3,000.

462
00:22:24,200 --> 00:22:25,160
5,100.

463
00:22:27,160 --> 00:22:29,480
Okay, I'm going to make a YouTube video.

464
00:22:29,480 --> 00:22:35,320
I'm going to get a little postal scale and you're going to have to scan and weigh every single one 5,100 times.

465
00:22:36,120 --> 00:22:38,120
I already do that when I put the bailing label on.

466
00:22:38,120 --> 00:22:39,640
Oh my God.

467
00:22:40,440 --> 00:22:41,400
Now we're getting carried away.

468
00:22:41,400 --> 00:22:42,440
So yeah, month two.

469
00:22:42,440 --> 00:22:43,240
Yeah.

470
00:22:43,240 --> 00:22:46,600
So where's your weak point?

471
00:22:46,600 --> 00:22:47,400
Is it storage?

472
00:22:47,400 --> 00:22:48,120
Is it shipping?

473
00:22:48,120 --> 00:22:49,160
Is it sourcing?

474
00:22:49,160 --> 00:22:51,320
Do you need to have a better sourcing route?

475
00:22:52,280 --> 00:22:57,000
Or if you're online shopping, are you wasting too much time on Facebook?

476
00:22:57,000 --> 00:23:02,600
You know you're not finding hardly anything, but you know for a fact you're finding better stuff from eBay,

477
00:23:02,600 --> 00:23:07,000
like eBay to eBay flipping or Craigslist or Nextdoor, whatever.

478
00:23:07,960 --> 00:23:12,920
Whatever your weak point is identifying that and how can you make it better?

479
00:23:12,920 --> 00:23:15,720
Not just identifying it, but going through the full thing.

480
00:23:15,720 --> 00:23:17,640
How do I make it better, more efficient?

481
00:23:18,200 --> 00:23:24,840
Because the more time you save, the more time you can put back into the next thing that's weaker and solving that riddle.

482
00:23:24,840 --> 00:23:29,480
Or spend more time sourcing, buying more things to sell more.

483
00:23:29,480 --> 00:23:30,600
Crazy how that would work.

484
00:23:30,600 --> 00:23:34,120
I will say this, like when I first started because I was working full time,

485
00:23:36,040 --> 00:23:40,200
I went to different thrift stores, but if it sucked, I just wouldn't go there.

486
00:23:40,200 --> 00:23:46,040
If it was a good thrift store, like I had a good will that was really, really good for everything at the time.

487
00:23:46,040 --> 00:23:48,120
And I would just keep going back there, right?

488
00:23:48,120 --> 00:23:54,280
You know if it's going to keep producing stuff for you to sell, there's no point in trying a different place.

489
00:23:54,280 --> 00:23:56,440
Especially if you only have part time, right?

490
00:23:56,440 --> 00:23:57,720
We don't have all week to be sourcing.

491
00:23:57,720 --> 00:23:59,240
We got maybe one day.

492
00:23:59,240 --> 00:24:04,040
If you keep going to that goodwill or salvation army or wherever and you keep finding decent stuff

493
00:24:04,040 --> 00:24:09,640
and you're selling the stuff from there, I just keep going back until the well dries up.

494
00:24:09,640 --> 00:24:14,200
There's no point in driving an extra 30 minutes to go test out a store and you get nothing.

495
00:24:14,200 --> 00:24:16,760
When you could have just went back to your goodwill where you always go

496
00:24:16,760 --> 00:24:18,200
and you leave with a cart full of stuff.

497
00:24:18,200 --> 00:24:22,440
So I think month two, you should all be keeping track of your sources.

498
00:24:22,440 --> 00:24:26,600
Whether you're brand new or whether you're doing this for 20 years.

499
00:24:26,600 --> 00:24:29,320
You should know what your sources are producing.

500
00:24:29,320 --> 00:24:32,600
What stores are your good stores, your okay stores, and your bad stores.

501
00:24:32,600 --> 00:24:36,600
And kind of develop routes around those and how often you go to those.

502
00:24:36,600 --> 00:24:40,360
So I think month two, you're kind of figuring out, all right, well, this store, you know,

503
00:24:40,360 --> 00:24:42,840
my local goodwill is the only place I got to go.

504
00:24:42,840 --> 00:24:46,360
I keep getting stuff from there and you just stick with that and continue to grow.

505
00:24:46,360 --> 00:24:49,160
I think what you want to see in month two is growth.

506
00:24:49,160 --> 00:24:53,400
Whether that's your knowledge should be growing, your income should be growing,

507
00:24:53,400 --> 00:24:56,040
and the amount of stuff you're finding should be growing.

508
00:24:56,040 --> 00:24:57,960
And that's with the same time investment.

509
00:24:57,960 --> 00:25:00,040
We're not switching the time investment month to month.

510
00:25:00,040 --> 00:25:01,000
It's the same.

511
00:25:01,000 --> 00:25:04,360
So you should be growing in all these different areas in the second month.

512
00:25:04,360 --> 00:25:09,000
Any other things you want to touch on in month two before we move on to the third and final month?

513
00:25:09,800 --> 00:25:12,200
Yeah, I had two regrets I didn't do earlier on.

514
00:25:12,200 --> 00:25:16,520
I wasn't experimenting with like going out to newer locations.

515
00:25:16,520 --> 00:25:18,520
I wish I would have done that.

516
00:25:18,520 --> 00:25:21,640
Where I would add like, I don't know, I'm dropping this.

517
00:25:21,640 --> 00:25:25,480
So I'm going to slide this newer one in this month that I've never been to,

518
00:25:25,480 --> 00:25:28,760
to see how that shapes and do that over and over again.

519
00:25:28,760 --> 00:25:31,720
Because eventually, like Mike was saying, you're tracking all this stuff.

520
00:25:31,720 --> 00:25:35,240
And let's just say you were going all to the known ones and you dropped all the old ones,

521
00:25:35,240 --> 00:25:36,120
and that's your route.

522
00:25:36,840 --> 00:25:41,640
But I do think extending your route very small, like one a week,

523
00:25:41,640 --> 00:25:43,960
for an experimental thing to add to the route.

524
00:25:43,960 --> 00:25:46,440
Because you don't know if it's going to pop up good, bad, or ugly.

525
00:25:47,080 --> 00:25:48,040
You don't know until you do.

526
00:25:48,040 --> 00:25:49,480
I wish I would have done that earlier on.

527
00:25:52,120 --> 00:25:59,080
In month two, I would also try to figure out, maybe start talking,

528
00:25:59,080 --> 00:26:01,240
this goes back to what we were talking about previously,

529
00:26:01,240 --> 00:26:03,560
networking with the people you're buying from a bit more,

530
00:26:03,560 --> 00:26:05,160
striking up those conversations.

531
00:26:06,120 --> 00:26:10,520
I wouldn't push just yet how to get them cheaper from the same place,

532
00:26:10,520 --> 00:26:13,480
but start that rapport building with them.

533
00:26:13,480 --> 00:26:15,400
Start asking how their day is.

534
00:26:15,960 --> 00:26:18,760
Or if they've told you something you don't really care about,

535
00:26:18,760 --> 00:26:22,760
like their husband or their wife had a surgery, ask them how they are doing.

536
00:26:23,480 --> 00:26:27,160
So you come off as a human being versus the smelly bookseller you are.

537
00:26:27,800 --> 00:26:30,920
Hey, just because we don't shower,

538
00:26:30,920 --> 00:26:32,600
use deodorant doesn't mean we stink.

539
00:26:33,000 --> 00:26:34,040
We smell like money.

540
00:26:35,400 --> 00:26:36,840
It's the money smell, you're right.

541
00:26:36,840 --> 00:26:37,480
All right.

542
00:26:37,480 --> 00:26:39,480
Month three, we're committed.

543
00:26:39,480 --> 00:26:39,800
Right?

544
00:26:39,800 --> 00:26:42,360
So whatever business we're doing, we are committed to it.

545
00:26:42,360 --> 00:26:43,960
We know this is something we want to do.

546
00:26:43,960 --> 00:26:47,000
We're still doing it on the side in addition to our normal job.

547
00:26:48,200 --> 00:26:51,000
Now it's time to kind of, let's see where we can take this.

548
00:26:51,000 --> 00:26:55,640
You should have made money from the stuff you sourced month one, month two.

549
00:26:55,640 --> 00:26:57,160
Not everything have sold.

550
00:26:57,160 --> 00:27:00,040
Most of that stuff, you know, it'll sell, but a lot of it won't.

551
00:27:00,040 --> 00:27:03,160
So don't get in the mindset of something you bought two months ago

552
00:27:03,160 --> 00:27:04,520
should be sold by today.

553
00:27:04,520 --> 00:27:05,800
That's not the reality of it.

554
00:27:05,800 --> 00:27:08,360
Some things, even if there is a sell through, you know,

555
00:27:08,360 --> 00:27:10,280
the market goes up and down all the time.

556
00:27:10,280 --> 00:27:14,520
Maybe you got to look at repricing your items that you bought in the first month.

557
00:27:14,520 --> 00:27:15,720
So now you're committed to this.

558
00:27:15,720 --> 00:27:19,720
So now I'm going to require you to get business cards, right?

559
00:27:19,720 --> 00:27:20,600
You're committed to this.

560
00:27:20,600 --> 00:27:22,440
You know, this is what you're going to do.

561
00:27:22,440 --> 00:27:26,120
You need to get a stack of business cards because relationships are how you win.

562
00:27:26,120 --> 00:27:28,040
And every single person you go to,

563
00:27:28,040 --> 00:27:31,240
every single garage sale you go to and you buy something from them.

564
00:27:31,240 --> 00:27:32,280
Here's a business card.

565
00:27:32,280 --> 00:27:33,320
Oh yeah, it's two bucks.

566
00:27:33,320 --> 00:27:34,680
So here's, here's $2.

567
00:27:34,680 --> 00:27:35,640
Here's my business card.

568
00:27:35,640 --> 00:27:39,000
You know, if you know anybody that wants to get rid of their shoes, their clothes,

569
00:27:39,000 --> 00:27:41,480
I can buy them from them at a reasonable price.

570
00:27:41,480 --> 00:27:46,360
I think that is kind of growing your network is so important, not only sources,

571
00:27:46,360 --> 00:27:48,680
but you have to look at people as a source.

572
00:27:48,680 --> 00:27:52,280
And it's the most important source because the relationships are what's going to

573
00:27:52,280 --> 00:27:53,880
break the game wide open for you.

574
00:27:53,880 --> 00:27:55,800
So business cards are a necessity.

575
00:27:55,800 --> 00:27:57,080
You're committed to this.

576
00:27:57,080 --> 00:27:58,680
You don't got to be anything fancy, right?

577
00:27:58,680 --> 00:28:02,600
You don't want to be sitting there for 10 days trying to design a business card,

578
00:28:02,600 --> 00:28:05,080
slap something together with your name, your number, what you buy.

579
00:28:06,120 --> 00:28:08,600
It can be black and white and even on a sheet of paper,

580
00:28:08,600 --> 00:28:11,400
but I prefer cards like he's talking about just for professionals.

581
00:28:11,400 --> 00:28:12,440
Cards are cheap, right?

582
00:28:12,440 --> 00:28:13,080
Yeah.

583
00:28:13,080 --> 00:28:16,360
And then you also, you should have kept all your receipts to this point.

584
00:28:16,360 --> 00:28:17,880
So you're going to have to start bookkeeping

585
00:28:19,400 --> 00:28:20,920
because this is something you're committed with.

586
00:28:20,920 --> 00:28:23,480
You're going to make over the threshold every single year.

587
00:28:23,480 --> 00:28:25,640
So you're going to get 1099.

588
00:28:25,640 --> 00:28:27,320
So you're going to have to file your taxes on this.

589
00:28:27,320 --> 00:28:30,120
So you're going to have to start bookkeeping, which seems overbearing,

590
00:28:30,120 --> 00:28:34,600
but I promise you it's not quick books or even you could pay somebody

591
00:28:34,600 --> 00:28:36,120
to do it at the end of the year for you.

592
00:28:36,120 --> 00:28:37,720
Either way, it's really not that bad.

593
00:28:37,720 --> 00:28:42,280
So month three business cards, we're getting our, getting the word out there

594
00:28:42,280 --> 00:28:44,760
that I'm the used book guy of Harrisburg, right?

595
00:28:44,760 --> 00:28:46,520
Anybody that's got books, they know to come to me.

596
00:28:47,560 --> 00:28:49,080
Now we got to build upon that, right?

597
00:28:49,080 --> 00:28:51,560
So where are we headed after we get business cards, JB?

598
00:28:51,560 --> 00:28:56,360
I would, I would in month three and you're committed to it.

599
00:28:56,360 --> 00:28:57,320
You know what you're doing.

600
00:28:57,320 --> 00:28:58,360
You've chosen your niche.

601
00:28:59,080 --> 00:29:01,640
I would re-examine your storage situation.

602
00:29:02,440 --> 00:29:05,560
If I'm going to continue to do this, especially if you're an eBay seller

603
00:29:05,560 --> 00:29:10,440
or let's just say even for giggles, you're an FBM seller that does FBA too.

604
00:29:10,440 --> 00:29:13,560
Even your FBM piles, you're going to grow out of essentially.

605
00:29:13,560 --> 00:29:14,600
So examine it.

606
00:29:14,600 --> 00:29:17,400
How long before I'm going to need to find a bigger space?

607
00:29:17,400 --> 00:29:21,080
If I need a bigger space, what size space do I need

608
00:29:21,080 --> 00:29:22,040
for what length of time?

609
00:29:22,760 --> 00:29:24,040
Is it a storage unit?

610
00:29:24,040 --> 00:29:26,120
Is it your shed out back?

611
00:29:26,120 --> 00:29:28,840
Are you going to convert your garage if you got a garage?

612
00:29:28,840 --> 00:29:30,120
What's your plan?

613
00:29:30,120 --> 00:29:32,280
Because you're going to get yourself in a situation where,

614
00:29:32,840 --> 00:29:35,160
uh-oh, I don't know where to put this.

615
00:29:35,160 --> 00:29:36,440
I have nowhere to put it.

616
00:29:36,440 --> 00:29:39,800
I've gone all the way to the ceiling or even look at that.

617
00:29:39,800 --> 00:29:40,120
Okay.

618
00:29:40,120 --> 00:29:41,800
I'm not utilizing my storage, right?

619
00:29:42,520 --> 00:29:45,880
That was a light bulb for me back in storage unit days.

620
00:29:45,880 --> 00:29:47,640
I wasn't going all the way to the ceiling.

621
00:29:47,640 --> 00:29:51,560
I was going six foot, which is what most people do

622
00:29:51,560 --> 00:29:52,840
because it's easy to reach it.

623
00:29:52,840 --> 00:29:57,640
But go on taller, even it required me getting a ladder.

624
00:29:57,640 --> 00:30:01,720
I was able to save cost for the same thing I was already paying for.

625
00:30:01,720 --> 00:30:04,520
It's the same cubic square foot, what it's called.

626
00:30:04,520 --> 00:30:08,760
I was utilizing not just the square footage, but the cubic going all the way to the ceiling.

627
00:30:09,320 --> 00:30:13,640
And that caused me to not buy probably two additional units

628
00:30:13,640 --> 00:30:18,120
by utilizing the same space or preparing to go into a storage unit.

629
00:30:18,840 --> 00:30:20,840
How can I use all of it?

630
00:30:20,840 --> 00:30:27,320
Like Mike's here, I think you spent a fair bit of time reorganizing your unit, right?

631
00:30:27,320 --> 00:30:29,480
I'm stacked to the top on the walls all the way up.

632
00:30:29,480 --> 00:30:30,600
I can't even reach the box.

633
00:30:30,600 --> 00:30:33,240
I just throw them up there because I know what's in there.

634
00:30:33,240 --> 00:30:34,680
It's labeled on the outside.

635
00:30:34,680 --> 00:30:37,400
So I know if I got to get something, then I can figure out how to get to it.

636
00:30:37,400 --> 00:30:39,880
But I'm literally stacked to the ceiling in there on the walls.

637
00:30:39,880 --> 00:30:43,000
Now, a big hack I figured out for storage unit life.

638
00:30:43,640 --> 00:30:45,240
In three months, you're probably in books,

639
00:30:45,240 --> 00:30:47,640
you're probably looking at storage unit life after three months.

640
00:30:47,640 --> 00:30:49,080
If you're doing it every day.

641
00:30:49,080 --> 00:30:49,720
Or bins.

642
00:30:49,720 --> 00:30:53,800
I think a lot of people start with those bins, like the ones you got, the lids you got behind you.

643
00:30:53,800 --> 00:30:57,160
I think that's kind of like the starting point is those big plastic tubs.

644
00:30:57,160 --> 00:31:01,800
So I think at three months, you at least have to have some kind of tub system set up, right?

645
00:31:01,800 --> 00:31:05,640
I mean, at minimum, because you should have enough things listed where

646
00:31:06,440 --> 00:31:08,440
you're not just going to be able to say, oh, look, there it is, right?

647
00:31:08,440 --> 00:31:10,360
You're going to have to say, all right, I need to go to tub A.

648
00:31:10,360 --> 00:31:13,640
And when I was in everything, seller started, I had tubs.

649
00:31:13,640 --> 00:31:18,520
I think I had like five or six tubs and I sucked at my inventory system.

650
00:31:18,520 --> 00:31:20,280
I just put in what tub it was in.

651
00:31:20,280 --> 00:31:22,040
So I would just pop open the lid.

652
00:31:22,040 --> 00:31:23,080
I did the same thing.

653
00:31:23,080 --> 00:31:25,640
I was in tub life and it was stacking them on.

654
00:31:25,640 --> 00:31:29,160
I found tubs that could stack and they were big because books.

655
00:31:30,280 --> 00:31:31,400
And I did the same thing.

656
00:31:32,600 --> 00:31:34,600
I didn't really, I didn't even label my tubs.

657
00:31:34,600 --> 00:31:37,640
I just labeled the row, the rack row was on essentially.

658
00:31:37,640 --> 00:31:38,920
I was still the storage unit this way.

659
00:31:38,920 --> 00:31:41,560
But even if you're doing this out of your room, that'd be another thing.

660
00:31:41,560 --> 00:31:42,840
You've got a spare room.

661
00:31:44,120 --> 00:31:45,640
That's your new storage room, man.

662
00:31:45,640 --> 00:31:49,400
Convert that out, move that desk that you haven't used in three years out.

663
00:31:49,400 --> 00:31:51,960
Maybe that's your shipping table now.

664
00:31:51,960 --> 00:31:54,280
You have something, even if you live in an apartment,

665
00:31:54,920 --> 00:31:57,240
there's a spare room, even if it's the living room,

666
00:31:57,240 --> 00:32:00,840
or you can assign like half of it or quarter of it to your business.

667
00:32:01,800 --> 00:32:04,920
I think, I think month three, you really have to start thinking about

668
00:32:05,560 --> 00:32:07,400
what you want to get out of the business, right?

669
00:32:07,400 --> 00:32:09,560
Because some people do this and they want to keep it part-time.

670
00:32:09,560 --> 00:32:10,760
They want to stay working full-time.

671
00:32:10,760 --> 00:32:14,120
They get a job they like, or some people kind of want to take this full-time.

672
00:32:14,120 --> 00:32:19,000
Either way, I think you have to find like the equilibrium of time you want to invest

673
00:32:19,000 --> 00:32:20,760
versus results you expect.

674
00:32:20,760 --> 00:32:22,680
And I think they kind of go hand in hand, right?

675
00:32:22,680 --> 00:32:25,640
The more time you put in, the more money you should make.

676
00:32:25,640 --> 00:32:27,160
I know that doesn't seem to be the case.

677
00:32:27,960 --> 00:32:29,960
A lot of people like wasting time in reselling.

678
00:32:29,960 --> 00:32:32,440
So I think you got to set a realistic expectation about,

679
00:32:33,160 --> 00:32:36,600
okay, I want to make this amount so I can leave my job.

680
00:32:36,600 --> 00:32:39,720
Or I want to make this amount, but I only want to work this amount

681
00:32:39,720 --> 00:32:43,080
because I only want to do this on the side and I kind of want it to be stress-free.

682
00:32:43,080 --> 00:32:47,160
So on month three, you should start thinking longer, you know, down the road.

683
00:32:47,880 --> 00:32:49,720
What do you want to get out of your business overall?

684
00:32:49,720 --> 00:32:50,600
What do you think about that?

685
00:32:52,200 --> 00:32:52,840
No, I agree.

686
00:32:53,480 --> 00:32:58,120
Doing the roadmap of, okay, I spent a quarter of the year learning.

687
00:32:58,120 --> 00:33:00,680
I'm going to spend the next three-fourths of the quarter figuring out

688
00:33:00,680 --> 00:33:03,240
where I'm taking this thing and when I'm doing those stuff.

689
00:33:03,800 --> 00:33:05,000
Everybody has an idea.

690
00:33:05,000 --> 00:33:06,920
But not everybody can execute those ideas.

691
00:33:06,920 --> 00:33:07,800
It's important to do both.

692
00:33:07,800 --> 00:33:10,600
Yes, come up with the initial idea, put a timeframe on it,

693
00:33:10,600 --> 00:33:13,640
or a deadline for yourself, a personal deadline.

694
00:33:13,640 --> 00:33:17,960
I think those two things are key for growing your business continually.

695
00:33:17,960 --> 00:33:21,400
Because if you just have the idea and never execute an unsaid idea,

696
00:33:21,960 --> 00:33:22,920
you're spinning your wheels.

697
00:33:24,200 --> 00:33:26,600
And consistency kind of goes a long way in this.

698
00:33:26,600 --> 00:33:31,400
I don't want people, okay, you know, I look at my sales for April, right?

699
00:33:31,400 --> 00:33:33,640
Maybe I want to do this full-time.

700
00:33:33,640 --> 00:33:37,560
And my sales for April were, you know, well above what I need them to be.

701
00:33:38,200 --> 00:33:41,800
And I immediately start thinking, oh my God, I'm quitting today.

702
00:33:41,800 --> 00:33:42,760
Like I'm out of here.

703
00:33:42,760 --> 00:33:44,920
Like I had a month of sales that are great.

704
00:33:44,920 --> 00:33:48,600
I would caution people on saying there's anomalies that happen, right?

705
00:33:48,600 --> 00:33:52,440
In the reselling world, maybe you sold something, you know, that was really expensive.

706
00:33:52,440 --> 00:33:56,440
Like I sold a $200 camera today and I usually never sell $200 items.

707
00:33:56,440 --> 00:34:00,440
So it's like, if you have an anomaly in that month of sales and you say,

708
00:34:00,440 --> 00:34:04,440
all right, I'm quitting my job, that might not be the reality.

709
00:34:04,440 --> 00:34:10,440
I want to see consistent sales across the board here, consistent payouts before you can really say,

710
00:34:10,440 --> 00:34:13,480
hey, this is something that is actually going to work.

711
00:34:13,480 --> 00:34:19,480
And I'm actually going to be able to get the money I need and expect from the business on a monthly, weekly, daily basis.

712
00:34:20,280 --> 00:34:20,520
Right.

713
00:34:20,520 --> 00:34:29,480
And the other critical thing I would say in month three, because you spent the first two months learning how to get the stuff, mail the stuff, process the stuff, put away the stuff, right?

714
00:34:29,480 --> 00:34:32,520
Start learning the tools that are given to you.

715
00:34:32,520 --> 00:34:36,520
I spent a whole year not doing newsletters, not doing coupons.

716
00:34:36,520 --> 00:34:37,640
I did okay.

717
00:34:37,640 --> 00:34:43,640
I could have done a whole lot better if I took some time out to because I was too busy doing those other things I just mentioned.

718
00:34:43,640 --> 00:34:45,640
I assigned no time to learn coupons.

719
00:34:45,640 --> 00:34:48,520
I assigned no time for building my followers on eBay.

720
00:34:48,520 --> 00:34:57,640
And for you Amazon people spending a lot of time learning your price tool, I think is critical and examining the market and seeing what the market's doing,

721
00:34:57,640 --> 00:35:03,560
especially if you're the textbook people planning on when to send it in that kind of thing.

722
00:35:03,560 --> 00:35:05,560
But learning your repriced tool.

723
00:35:05,560 --> 00:35:07,560
What's the other one, Mike?

724
00:35:07,560 --> 00:35:11,560
It's not inventory labs, but what's the one you're listening for?

725
00:35:11,560 --> 00:35:12,560
Listing software.

726
00:35:12,560 --> 00:35:20,560
Learning your listing software or getting a listing software and starting to learn it to get your time back, learning the tools that are necessary for your business.

727
00:35:20,560 --> 00:35:21,560
Yeah, I agree 100 percent.

728
00:35:21,560 --> 00:35:22,560
So you're starting out.

729
00:35:22,560 --> 00:35:24,560
You're kind of just learning everything, right?

730
00:35:24,560 --> 00:35:27,560
Month two, you're getting a little bit of money in your pocket.

731
00:35:27,560 --> 00:35:28,560
Things are feeling nice.

732
00:35:28,560 --> 00:35:29,560
Month three.

733
00:35:29,560 --> 00:35:30,560
All right.

734
00:35:30,560 --> 00:35:31,560
This is what I want to do.

735
00:35:31,560 --> 00:35:32,560
We're going to take it seriously here.

736
00:35:32,560 --> 00:35:33,560
It's time to ramp it up.

737
00:35:33,560 --> 00:35:35,560
You're having a conversation.

738
00:35:35,560 --> 00:35:36,560
You got business cards.

739
00:35:36,560 --> 00:35:37,560
You got flyers.

740
00:35:37,560 --> 00:35:41,560
You're all over the place and you're still trying to get the inventory for as cheap as you can.

741
00:35:41,560 --> 00:35:43,560
Even to this day, I'm always chasing a deal.

742
00:35:43,560 --> 00:35:47,560
If I can get something for cheaper, then I'm 100 percent going to do it.

743
00:35:47,560 --> 00:35:52,560
So as you grow, and that's another thing, as you build relationships, you get better deals.

744
00:35:52,560 --> 00:35:57,560
So it's almost as if when you first start, you're going to pay more for items than down the road.

745
00:35:57,560 --> 00:35:58,560
Do you agree with that?

746
00:35:58,560 --> 00:35:59,560
Yeah.

747
00:35:59,560 --> 00:36:00,560
Yeah.

748
00:36:00,560 --> 00:36:13,560
Unless you go to a new place and you're starting up with that new place, you may behave more initially, but then you got to network again for three, six months before you get a better deal at that place.

749
00:36:13,560 --> 00:36:16,560
But for your already established places, they're going to give you deals.

750
00:36:16,560 --> 00:36:18,560
They're going to say, don't worry about it.

751
00:36:18,560 --> 00:36:20,560
Just take this extra box for free.

752
00:36:20,560 --> 00:36:24,560
Or, hey, we got a big donation this weekend.

753
00:36:24,560 --> 00:36:26,560
There's not enough floor space.

754
00:36:26,560 --> 00:36:30,560
I don't want to pay my employees, speaking on their behalf.

755
00:36:30,560 --> 00:36:34,560
I'd rather you just come in and take it because you buy from me every week anyway.

756
00:36:34,560 --> 00:36:35,560
Just take it.

757
00:36:35,560 --> 00:36:36,560
It's fine.

758
00:36:36,560 --> 00:36:37,560
You do business with me every week.

759
00:36:37,560 --> 00:36:38,560
It's cool.

760
00:36:38,560 --> 00:36:39,560
Yeah.

761
00:36:39,560 --> 00:36:48,560
I think the big takeaway is kind of to sum this up is if I had to start out again all over, I would focus on building relationships early on.

762
00:36:48,560 --> 00:36:50,560
I would focus on a lower buy cost.

763
00:36:50,560 --> 00:36:56,560
I would focus on my processes better being more consistent across the board with thrift stores.

764
00:36:56,560 --> 00:37:05,560
Just being in general, like kind of building towards something bigger, always having the end game, you know, in my head like, hey, what's next?

765
00:37:05,560 --> 00:37:06,560
Like, where do I want to be in a year?

766
00:37:06,560 --> 00:37:07,560
Where do I want to be in two years?

767
00:37:07,560 --> 00:37:11,560
Because honestly, when I started, I was just like, like you said, it's fun money, right?

768
00:37:11,560 --> 00:37:15,560
Oh, so I went into the Goodwill and I picked this up and I made 80 bucks on it.

769
00:37:15,560 --> 00:37:19,560
I'm just going to spend my 80 bucks at the casino. So it's like, hey, it is what it is.

770
00:37:19,560 --> 00:37:20,560
It's not a big deal.

771
00:37:20,560 --> 00:37:22,560
And, you know, it's just fun money.

772
00:37:22,560 --> 00:37:29,560
But if you're going to treat this as a business, starting out and you get to that three months and you're like, all right, I'm all in, then take it seriously.

773
00:37:29,560 --> 00:37:35,560
I think a lot of people kind of take the reselling business and kind of think it's like, I don't know, it's like, oh, it's like a shifty thing to do.

774
00:37:35,560 --> 00:37:37,560
Well, resellings, it's just supply and demand.

775
00:37:37,560 --> 00:37:41,560
It's what every company in the universe relies on.

776
00:37:41,560 --> 00:37:42,560
It's supply and demand.

777
00:37:42,560 --> 00:37:43,560
We're doing the same thing.

778
00:37:43,560 --> 00:37:47,560
We're just doing it as single people, not a huge corporation.

779
00:37:47,560 --> 00:37:50,560
So I would take, I would treat it much more like a serious business.

780
00:37:50,560 --> 00:37:53,560
Develop these relationships way earlier.

781
00:37:53,560 --> 00:37:56,560
I'm glad I have the relationships I do now, but I would have developed these.

782
00:37:56,560 --> 00:38:04,560
I mean, I'm talking, I would have had all these relationships within six months guaranteed if I just would have had the conversation to begin with.

783
00:38:04,560 --> 00:38:07,560
Like it's just the conversation. That's all it boils down to.

784
00:38:07,560 --> 00:38:12,560
So I would treat my business as a business if it was something I really wanted to do and just build upon it.

785
00:38:12,560 --> 00:38:14,560
Any last remarks, JB?

786
00:38:14,560 --> 00:38:17,560
Yes. Don't pull the trigger on growing too fast.

787
00:38:17,560 --> 00:38:20,560
It's really tempting, especially, hey, this is working.

788
00:38:20,560 --> 00:38:22,560
Everything's on full cylinders.

789
00:38:22,560 --> 00:38:26,560
Don't go from, I don't know, you're listing 20 a day. You want to jump to 40.

790
00:38:26,560 --> 00:38:27,560
It's real tempting to do that.

791
00:38:27,560 --> 00:38:30,560
I can get 40 of whatever you're selling. I can.

792
00:38:30,560 --> 00:38:34,560
And list it. That comes with huge complications that compound.

793
00:38:34,560 --> 00:38:38,560
Your shipping is going to go up. Your customer service is going to go up.

794
00:38:38,560 --> 00:38:42,560
And your listing time is going to go up because you're not used to listing 40.

795
00:38:42,560 --> 00:38:45,560
It's like I'm going to use a weightlifting reference.

796
00:38:45,560 --> 00:38:49,560
You're bench pressing 100 pounds. You say I could do 200 pounds.

797
00:38:49,560 --> 00:38:54,560
And it's harder than you think, folks, when you make that jump.

798
00:38:54,560 --> 00:38:59,560
Increase slowly. If you do decide I can do more. Sure.

799
00:38:59,560 --> 00:39:05,560
So you've given yourself, you're listing that 20. It used to take you three hours. Now you're down to two hours.

800
00:39:05,560 --> 00:39:10,560
Figure out what you can do in that same three hours. You assigned yourself.

801
00:39:10,560 --> 00:39:14,560
Don't do the 20 to 40. Maybe it's only 22 or 23 extra.

802
00:39:14,560 --> 00:39:19,560
If you're making a jump small and then maintain that until you shave it off another hour.

803
00:39:19,560 --> 00:39:21,560
You've gotten quicker. You've gotten faster.

804
00:39:21,560 --> 00:39:24,560
Now, in Amazon land, I don't know.

805
00:39:24,560 --> 00:39:27,560
I don't know how to equate this day Amazon. Amazon is easy.

806
00:39:27,560 --> 00:39:29,560
It's the same way because your money is going to be held up.

807
00:39:29,560 --> 00:39:34,560
You got to grow slow. You don't have a choice because if you go spend 10 grand today and sell everything for 10 grand tomorrow,

808
00:39:34,560 --> 00:39:37,560
that 10 grand is going to sit there for, you know, two months.

809
00:39:37,560 --> 00:39:43,560
So you're kind of screwed. You don't have you have no choice but to grow slow on Amazon, which is good.

810
00:39:43,560 --> 00:39:45,560
I mean, there's nothing I think it's the right way to do it.

811
00:39:45,560 --> 00:39:49,560
You don't want to just all of a sudden, you know, have a million things.

812
00:39:49,560 --> 00:39:55,560
And the final words of this podcast is going to be sourcing is the easy and fun part.

813
00:39:55,560 --> 00:40:00,560
Listing it is the actual work. If you go out and buy stuff, you have to list it.

814
00:40:00,560 --> 00:40:04,560
You have to pack it and ship it to the customer to get paid.

815
00:40:04,560 --> 00:40:09,560
I know all the videos you see out there with people out there finding great things.

816
00:40:09,560 --> 00:40:13,560
You have to list it. You have to sell it or it means absolutely nothing.

817
00:40:13,560 --> 00:40:17,560
So we will talk to you guys in next week's episode.

818
00:40:17,560 --> 00:40:20,560
Thanks for listening to another episode of the resellers mindset podcast.

819
00:40:20,560 --> 00:40:28,560
Today's full episode and all previous episodes are available to all YouTube members along with the weekly Zoom call and private discord.

820
00:40:28,560 --> 00:40:34,560
Head on over to YouTube dot com backslash to use book guy and consider joining for as little as two ninety nine a month.