Welcome back to another episode of the Resellers Mindset Podcast.
My name is Mike, also known as the used book guy on YouTube,
along with my friend and fellow full-time reseller, Johnny B.
We help people start and grow their reselling businesses from the ground up.
We also have a weekly zoom call and private discord for all YouTube members.
Head on over to youtube.com backslash use book guy to join the channel and gain
access to the full length podcast zoom call and private discord today.
Let's get into this week's episode.
What is up everybody?
Welcome into episode 33.
Johnny B's holding in his lamp already.
We have friendly banter before we do these things.
And after we do these things, if you only knew what we talked about, then
that's where the real juicy stuff is.
Today's topic though is basically the lifeblood of any reselling
business is cashflow.
And for us as being media sellers, it's, I mean, that's all there is, is
cashflow when it comes to selling media.
It's different for other categories, other business models, but bulk media.
I mean, we're just going to kind of dive into it here and JB is going to take us
away with kind of what cashflow looks like for his business and you know, is
he chasing a 20 hours, you know, bill, or is he fine with taking a dollar and
spending a dollar somewhere else?
So take us away eBay man.
All right.
So cashflow for those not in the know is basically money coming back to you
that goes into the bank.
It's clear.
It's all yours to spend and do what you want with.
Yay.
So with that, you want continuous cashflow and you can get more cashflow
with multiple revenue streams.
So like if you did eBay and Amazon, kind of like Mike here, that's multiple
streams to generate a larger cashflow pile.
The more cashflow you have, the more options you have.
As without the monies, you can't do the things you need to do.
And cashflow is after your expenses, in my opinion, like if you've got a rent
or a storage unit or a warehouse like myself or half a warehouse like myself
and your gas that you need to go sourcing with your cost of goods, all this,
that, and the other.
Now, what I like to use my cashflow is just buying more product or what I've
done recently is a lot of my cashflow.
My biggest expense right now is my employee.
Honestly, it's more than my rent.
My rent is pretty cheap.
I got lucky, but most of that just goes toward giving her more hours to work, to
have a bigger output, which will generate more cashflow.
Now, I'll pause there because I want to talk about catch up time with cashflow
and I'll let Mike talk about cashflow in general.
Yeah, cashflow for media, it's so intensive.
You don't really think about it when you first start, right?
Because you just, you know, you're out scanning books, CDs, DVDs, and you see
the accepts and you see it's going to pay you $5, right?
That's what the phone app says.
But in actuality, you're not going to get that five hours for, you know,
three, four weeks, six weeks.
So you're, you're giving your dollar up today to get five or 10 in a month.
So what happens here is if you get to a point where you're giving up too many
dollars in the front end, you're going to have nothing pretty quick here and
you're going to have nothing but inventory sitting there.
Now the benefit to Amazon compared to eBay is most Amazon sellers don't
have a death pile, right?
So people send their stuff in Amazon, it'll sell, it's just going to take time.
Now, if you're doing only eBay, your dollars, if you don't take the
initiative to list the items, I mean, you, you got a cashflow problem very fast.
And I don't even think it relates to media.
I think overall, no matter what category you're selling, there's so
much money that's just tied up.
And I guess we can kind of say like, if I gave you a dollar in a year or a dollar
today, like you would spend a dollar much more smarter in a year than you would
today.
So even if you buy like bad buys, it's just part of business, right?
If you can break even or even get less with Amazon, right?
Their fees, you could sell something for a quarter loss and it still will be
cheaper than having Amazon dispose of it.
So if you can take that money back out, you're going to basically spend it
smarter today and you should be finding better quality items because, you know,
as you're out there sourcing, you're going to develop relationships.
You're going to know what stores are better, where to find the better items.
So if you get a dollar today, it's not going to be, you know, as valuable as a
dollar in 12 months.
So say you have something sitting there for a while and especially with eBay,
right?
Best offers.
You get a low ball offer for, you know, five bucks.
You had it listed for 20 bucks.
Well, you know, I would argue that take it, take it and go, right?
It's been sitting there for a while.
You can better redeploy that money today and you can turn that five dollars
probably into a lot more than the $20 you're going to sit around and never get
waiting for it to sell on eBay.
Right.
I mean, there's something you said for longer dollar later, if you wait and
decline offers, but for me, I'm with Mike, I'm going to take the money and run and
reinvest it to get more dollars.
That's all this game is, is compounding your money over and over again with
your, you know, the way to do that is with cashflow.
Cause if you can't buy more product to then list or send into Amazon, you
can't generate more cashflow.
You're just going to get the residuals from the previous work you've already done.
That's the, that's the long game for us is just pumping most of it back into the
business now where I say most here.
I mean, you got to pay your bills and stuff.
And sometimes occasionally you got to pay yourself.
Um, occasionally not much in my opinion, if you're taking this, uh, beyond the
hobbyist and possibly the part-timer, um, part-timers can do this on a single
level and they can pump the majority of their money back in.
Maybe they wanted to use their cashflow to go on cruises or vacation of some kind.
That's cool.
Uh, but for me, I'm going to pump it back into the business.
Most of it, um, I'm going to pay for my personal bills and my business bills.
Cause they're different, right?
Outside of that, I pump it back in.
And what I mean, my personal bills, I, I, I hungry.
I like to eat.
So I got to have a meal every now and then keeps me going.
I like my coffee too.
Got to have coffee.
That's a personal bill, not a business bill.
Do you, uh, do you buy like premium Starbucks coffee or do you buy like
the middle of nowhere, Texas, somebody made it in their backyard kind of stuff?
It's a breakfast blend, medium roast that I pick up at the grocery store for 5.89 a
bag, it takes me a week to go through the bag, but that, that fills not one cup of
coffee, not two cups of coffee, but three cups of coffee every day.
Those three cups of coffee is more coffee than I drink probably in three years.
Uh, but Hey, keeps you going.
Right.
It's coffee a day, but I'm getting on topic here.
I pay for my personal bills and my business bills.
That's what I pay myself.
Uh, but I don't really pay myself.
I pay myself to keep going.
Essentially your bills, your bills though.
That's like paying yourself.
Right.
Because most people's paycheck go to their bills, right?
I consider when I pay my bills, it's basically, you know, I'm paying myself
to be able to afford the, like the, the basic necessities of living.
Right.
And I took a trip recently, a sourcing trip, uh, four or five days worth.
And we ate out.
I normally don't eat out, but it was like no choice cause I'm out and about.
So it was kind of nice.
Um, and it's a write-off.
It's a business write-off actually.
Uh, cause the employee was with me and we discussed business while we were eating.
If you didn't know, you can write down what was discussed, how both of you sign it.
That's your meals now, a write-off.
Did you splurge or were you a dollar menu guy?
No, I splurged.
I splurged.
I mean, I wasn't in East Texas anymore.
I was in the big city life.
So yeah, I mean, gotta, gotta spoil myself a little bit.
Um, I do think though, like kind of we're on the topic of like fun things.
I do think it is important even for somebody like you or like me is like to
maybe set like, maybe it's a percentage or maybe, you know, like when me and
Deb were trying to get out of debt, like we used to use like an envelope system.
Right?
So this is an envelope for fun money.
Yeah.
So like, I do think it is important for people to kind of get something back out
of it, right?
Because if you just keep, you know, dumping your money into inventory, especially
if you're not listing, especially if it's not selling the way it needs to sell,
it's going to be lights out for your business pretty quick.
So I do think it is important to kind of take a little bit of money out and be
like, Hey, well, you know, out of the thousand dollars I made this month,
reselling a hundred dollars is for me to go to the casino and spend the slots.
Like something like that.
Sure.
Yeah.
I mean, this was technically a vacation for me because I hadn't been out of the
warehouse in a year and four months.
Well, I hadn't been out of, cause I did storage units before.
I hadn't been out of my business for about a year and four months.
So it was, it was a vacation for me, a working vacation, but a vacation.
Nonetheless, it felt good.
It felt a little weird, but it felt good at the same time.
Wasn't like when you first started, like, at least I can admit that I didn't
realize how much money I would have to put into building an Amazon business to
get it to the point where I was consistently getting, you know, thousand
plus dollar paychecks every two weeks.
Like I, I 100% consider and say, I didn't, because with eBay, right, you go buy
something for two bucks, I list it, it sells for 40, I get that money right then
and there with Amazon is different.
And I, I was not prepared and you can, I mean, I'm curious to see what your
mindset is behind this, but like it's, it takes a lot of money, even at a dollar
items, like I'm buying books for a dollar.
Like you're talking thousands and thousands of these you have to find and
buy and finding them also has to be taken into consideration because that's
your time, that's your gas, that's your vehicle expenses, you know, that's your
food while you're out traveling.
There's so many other expenses and it kind of caught me off guard, honestly.
And I do think it is one of those things a lot of people don't talk about is like
when you first start out, you want to run as fast as you can, but I
highly caution people to walk slowly.
Let the, let the money start flowing back in and then you kind of can ramp up.
Well, I'm going to have a different approach.
I took a different approach than most would, because I left my
corporate job with some money, both saved up and I was a partner.
So I got it.
I sold my shares because we operated like a law firm.
I sold it back to the company and they wrote me a nice big check.
So I was good for a year, but I already saw that it was working.
Cause I hadn't jumped in the full-time ship.
But when I saw that it was continuously going up after three months, I'm like,
okay, it compounds.
This is neat.
So that's where I made a decision to get my business's notice three months.
So then I saw over the course of the three months, cause I could, I could take
it back within three months, right?
If I didn't see it continuously go up just to make sure.
So over six months span, I saw it was compounding, but I wasn't making.
Enough to live on when I exited the company, but I had money in
my back pocket to survive on.
I just had about, okay, I got to make this work in a year.
And I did, and I made more money than I projected I would make actually.
I worked really hard for it.
I mean, I've talked about the long strenuous hours I work here, but as far
as what you're mentioning, the expenses, no, I didn't factor that in at all.
I mean, I was over buying left and right.
And then that caused me, well, I got nowhere to put these.
I got to get storage units.
Then one unit led to two, two led to three.
So it was continuous.
Well, here's another a hundred dollars a month.
Here's another a hundred dollars a month.
Here's another a hundred dollars a month on top of the cost of goods I was getting
and the travel gas expense you're talking about.
And then I had to buy computers and then I moved in the warehouse and then I got
more computers and office supplies and the bubble mailers they don't tell you about.
There's a cost there.
I mean, I get the little eBay gift certificate, whatever thing that I get.
I get the gift certificate, whatever thing that I use.
But sometimes I have to order more.
And then I was using Uline too.
That was an expense.
Just figure out what kind of boxes I'm also going to need and bags I'm going to need.
Then I brought in an employee, but basically I'm making the same, but my
business has grown, which is the funny part.
So all my bills are covered.
All my expenses are covered, but I've added to my expense column, but I'm getting the
same back, but eventually there'll be a plateau point where, okay, we plateaued.
I bought everything I need.
I have everybody I need.
I have the space I need finalized.
And then I start collecting a bigger paycheck for myself to either, okay, I can go bigger
or I can maintain and stay the same.
And just now's my day in the sun kind of deal.
So it's like, I kind of think about it almost as like, if you started investing for retirement,
right?
I always say it's compounding over the years and it's kind of the same with reselling
business, just in a shorter period of time.
There are ways you kind of can set it on fire, right?
Maybe you're selling in a category that's like super hot.
Talk about all the time.
We're going to be an iPhone seller, right?
Your margins are less, but it's going to sell the same day you listed.
So there's a trade off to every business model and just finding a way to get the cash back
out of it in a timely manner.
That's all that matters.
It's all this reselling game comes out of, because if you ain't got no money, guess what?
You can't buy nothing.
You're not nothing new going in, nothing going to Amazon.
You're not going to get any more sales.
So you kind of hit a point here where you have to, because a lot of people get so excited
when they start reselling and they're ready to just go run up the credit cards, buy everything
they see, and they think they're going to make a whole bunch of money on it.
And the actuality is not everything.
Most items we find, and 95% of us resellers, it's not going to sell within the week.
It's probably going to take two weeks, a month.
Like, no matter what category you're selling in, unless you're selling, you know, you're
that small percentage that's selling really high in demand items, cashflow is going to
eat you up.
And just understand, like, it's okay to take steps and build the Amazon business, especially
for me being in the Amazon world.
Whenever somebody new comes along, I'm like, hey, you want to play it slow here.
There's a lot of factors that come into this.
Amazon's going to hold your money for a long time.
So it's like, with eBay, it's a little bit different in that aspect, but with Amazon,
cashflow will destroy you in the beginning, especially if you're trying to start this
from zero on Amazon.
And I think, like, I don't know, let's talk about some tips, like, basically to increase
cashflow when you first start.
I'll just throw the one out there is get your stuff for free.
Sell the stuff around your house, right?
That's kind of like the cliche thing.
Everybody says starting an eBay business, look around your house.
You know, what can you sell?
It's like there's plenty of items that have value in your house that you're probably not
using, right?
Most of the stuff you just probably been sitting around forever and you just like, oh, you
know, if you can get 20 bucks out of it, you take that $20 and then you go turn it into
40.
Now, I know a thing I wish I would have done, but I didn't do starting out is buy all my
equipment used.
I was buying it new because I had, like I said, I had money in my pocket and I took
the easy versus the harder thing to do and I just wanted my stuff right away.
So I paid for that.
I paid up for that.
That's the thing.
Now, if I had to do it again, I would have paid down for it and waited for it to come
in the mail from either like places like eBay or any place else that sells you use Facebook
marketplace.
If I took the time, energy and effort to do that, I could have saved myself a boatload
of money that I could have reinvested in inventory or given my employee extra hours or moved
in the warehouse earlier.
That would produce a lot of cashflow because I'm looking around here.
I mean, I spent several thousand dollars in just tubs to house the things because I was
operating on tubs for a very long time.
I still use them to transport stuff.
So they're still maintain their residual value and I can always sell them for any plastic
gold.
Right.
My bookcases, I started getting those on the side of the road if I saw them at my six
footers then because I wanted them to go into my storage and be able to fit under the door.
But my dollies knew that was stupid of me.
I should have bought them used again, taking the Facebook craigslist next door, whatever
your approach to it.
Another one is your shipping supplies.
Go to the dollar store, man.
Honestly, go to the dollar store or again, look on your used things.
You can find a lot of things used on eBay.
I've noticed that over time.
I just go there when I need a little bit extra office supplies.
I don't need a big bulk order of office supplies.
I'll just hit eBay.
Yeah, I'm going to wait for it in the mail.
That's the time I'm giving up.
But whenever I see a pile of Polly's getting low, I'm going to hit eBay and they should
be here by the time I run out.
Did you ever play the box game like when you first started?
Did you just collect all the box?
I had a whole storage unit of nothing but boxes, a 10 by 12, stacked to the ceiling.
I remember that.
That would get so pissed off at me.
All these boxes in here because I'm in this tiny apartment.
Right.
So there ain't no space that is.
So I'm trying to break down boxes.
I got them stacked all over the apartment.
But looking back, it was a smarter thing to do.
I probably could have did it a more efficient way because I didn't have a storage and everything
was in my apartment.
But those are the kind of things you really don't think about.
I used to have people to come into CVS all the time and be like, hey, do you have boxes?
I'm like, how many you need?
I got a whole back room full.
I'll pull out every one I got.
Or like banana boxes at Sam's Club.
Have you got a Sam's Club?
They got plenty of boxes.
They have their own little box, little thing up at the front.
They don't mind you taking that crap, honestly.
Yeah.
And it's not like you're dumpster diving.
Because some people, it's kind of off putting to jump in a dumpster.
I used to dumpster dive Goodwills way back before when I first started eBay.
Goodwill used to throw out all this stuff in the dumpster.
Guess what?
Me and my buddy sit out back in the dumpster, sit out there, music playing in the car,
waiting for them to come.
But a lot of people get off put by that.
But if you just walk in and ask for boxes, you could just be like, hey, I'm moving.
You got any boxes?
I'll take any size box.
You got small, big.
And I even used to use boxes from CVS for those Guitar Hero guitars.
They're so weird shaped.
And I would just, whenever I get a long box that wasn't that thick,
I would just say, all right, my Guitar Hero box.
Because you used to find those things everywhere.
You can't find them no more in thrift stores.
But I used to sell those things all the time.
So even back then, I was like, hey, this is a nice guitar.
It comes off the truck.
I'm like, oh, yeah, that's a Guitar Hero box for me right there.
But you got to save money any way you can when you first start.
And even to this day, I feel like I'm still super cheap with everything.
Yeah.
And then here's where I was, where I cut myself off at the beginning of the call,
when we first started going into it here, is spending some money and expecting the return
to come back slowly.
A lot of people don't prepare for that, especially immediate.
It's going to be a slow return.
Yeah, we always talk about 3Xing, 10Xing, 20Xing your money.
Yeah.
But it's not an overnight thing.
I'm sorry to inform you of this, but it's not.
It's going to come in.
In my case, it comes in over the course of a year, usually.
Because with me, I got to throw enough up there to get enough hooks in the water or eyeballs on it,
right, on the eBay platform, where stuff's selling every day.
Yeah, they're all long tail.
But I have enough long tail where I sell stuff every day.
And enough variety for people to take advantage of multi-quantity buys.
That produces cash flow.
I had planned for this very early on in my business to do that.
Because I knew once I decided on the vintage route that my items are, in fact, long tail.
They're collectibles.
Not every day, somebody's going to want it.
So that also affected how many I list as well.
But it all leads back to cash flow.
I want more cash flow.
Well, I have to do x, y, and z to produce the cash flow to come in.
And like my employee, she's an investment right now.
She definitely lists more than she costs per hour.
But it takes time for me to recoup back the monthly cost of her wage, essentially.
So I got to prepare for that.
OK, she costs this.
I need to at least list this much of inventory to have the potential to pay off her thing.
But to extrapolate even further, let's times that by two or three here
to actually make it feasible versus the breakeven.
To me, you got to go above and beyond to account for all variables you can't see.
So yeah, there's that tidbit for you, people.
I do think like my mindset now, right?
I don't know, just because I've been doing this for so long, like when it comes to cash flow.
And for example, I just had my car inspected, needed new exhaust, everything.
$1,100.
So I do think about it like $1,100, right?
My average sales price is around $20.
So I run the numbers in my head real quick.
And I'm like, OK, how many items do I have to sell to offset this?
And I don't know if it's just from being in the business for so long.
But you need the cash flow, right?
Because that's my bookmobile.
I drive it everywhere for all my thrifting.
It's the only car we have, me and Deb.
So you have to have that cash flow, because what happens if I don't have the $1,100 to
fix the car, right?
What happens if you have an unexpected emergency?
You need to be able to say, OK, well, I'm making enough money.
And it's hard when you start.
But if you're just starting this, you should have kind of an emergency fund out.
You shouldn't be spending emergency fund money to start your reselling business.
So you should have a separate.
But for things that come up in the business, right?
Maybe something happens where you have to, you know, I mean, who knows?
What could go wrong in your business right now that you would have to cash flow?
Like your car, your truck, your truck goes?
Yeah, the truck goes down.
That affects my business.
I mean, I have enough inventory for a little while.
But let's say I can't repair the truck for that little while.
What do I do, right?
Hey, employee, we got to go somewhere.
Take your computer.
Your computer goes down, right?
It goes out.
That's going to set me back.
But that's why, like I mentioned, I put a lot of money into computers.
So my goes down.
Well, I got two more I could use.
I got four if I go home and bring back the laptop.
So I'm still in business.
But I invested in those things in case something did go wrong,
because you can't plan for when the computer goes down.
Oh, July 4th, the computer is going to go down.
I better get one before then.
You can't plan for that.
So basically, you're saying like you need to have like a slush fund for like
unexpected business expenses.
I mean, I mean, we always we kind of hit on it before.
Like you should have maybe five hundred dollars set aside
if you're newer to this for maybe an opportunity to buy.
Maybe an opportunity pops up today.
You know, somebody calls you, hey, I got ten thousand sneakers,
five hundred bucks, and you ain't got it.
But we kind of talk about it like maybe you need to have
in addition to like an opportunity envelope, we'll say.
We're doing the envelope system again, the opportunity envelope.
And then you got basically a business expense, unexpected expense envelope.
And it's almost like you can have a set of envelopes for your personal life,
like your personal finances.
And then you could have one strictly for your reselling this.
And I think I think that would be good for a lot of people, like, OK,
here's what I paid.
Here's the cash, the extra cash I have that's going into the opportunity.
And then here's the one for an unexpected expense whenever that may happen.
Right. I mean, I'm going to I'm going to speak on this for a moment.
There was a deal earlier on this year that came up where I had already bought.
And I already I already spent my slush fund, as you mentioned.
And I was like, I really want it.
That that that scenario, you got two options.
You put it on your credit card or you could take a pass.
I decided to take a pass, even though I knew it would pay for itself.
And what I would have spent on the credit card, I didn't want to accumulate debt on it.
Now, I have done that before, where I have put a deal on the credit card
or got cash from the credit card in order to do it.
But that was earlier out of my business and I did.
And it made sense to me at the time and it was worth it and it paid for itself.
But not every deal would pan out like that.
It's not as worth as much as you thought it was or you thought one something,
but the market flipped to something else in the in the middle of you selling these things.
You just never know.
So the less that's that's risk management right there,
which does have to do with cash flow.
You can you can leverage those things on like credit and stuff, but I would not advise it
because you can get in trouble real, real quick.
It just takes a couple of those for you're out of business.
Honestly, I've seen I've seen a few horror stories on social media about people that started,
you know, online arbitrage and they leverage your credit cards.
Nothing against people use credit cards.
I'm sure that's your jam.
You know, 100 percent.
I got nothing against it.
There you can be very successful if you know how to play the game.
But unfortunately, the average person who never really had a credit card before
can't start doing what some of these people are doing in the field.
And I've seen horror stories where people like I had to ask my family for tens of thousands
of dollars because, you know, you spend that money today, you got to pay that credit card
balance off at the end of the month or you get hit with the interest and people don't
really kind of look past that.
So I think kind of like the overall takeaway here from cash flow for me is like you're
always going to want to even if it means breaking even or making a buck, you're every
single as every single second passes, somebody sends you an offer and you know, you can get
your money back out of it, maybe a little bit more.
You're always going to be better off taking it and redeploying that money again.
Absolutely.
So it's like, stop trying to hold out for the full price if you have a chance to take
a little bit less.
I mean, we're paying nothing for these items.
A lot of us that are flipping.
I mean, we're not flipping, you know, used clothing, books, you know, sneakers to make
a dollar per item, right?
We always have crazy room for basically, you know, offers.
That's basically what we're doing.
We're just pricing something at what the market what we think the market price is, but in
actuality, if we get an offer and it's under, you know, the market going great, we probably
should still take that 99% of the time unless it's something we know is going to sell for
that full price.
But don't get caught up with hanging on like, I know this phone is worth $300 and I'm not
taking a penny less.
It's funny because I'll just a little reference here.
I was trying to buy something on eBay the other day.
They had it listed at $22 best offer.
All right.
Well, I'm in there, right?
Best offer, 10 bucks automatically decline, $12 automatically decline.
I got all the way up to $16 and it's still automatically declined.
Like, why do we have like, what's the point of having it on?
Right?
Like that person probably just missed out on the sale.
They're probably never going to get because there was multiple people on the listing.
They were just the only one with best offer.
It's not like there was a crazy sell through on this item either.
So like, that's an opportunity where they could have sold it for $12.
They could have took that $16 after fees, maybe, you know, 12 because they did charge
for shipping and they would have made money on the ship.
And so they probably would have made like, I never have that crap on.
I let them send me dollar offers if they want to.
I can always counter.
Yeah, I have to take their dollar.
I was blown away.
I was like, this is your, you know, intelligent because you only get five offers, right?
They're like, Mike, this is your last offer.
If you don't, and I'm like, do I want to hit enter and it proved automatically decline.
So like, just think like, take that 16 bucks, spend it on something better, right?
Turn that six.
You go out to the thrift store, you spend 16 bucks.
You're going to leave with a lot of stuff that you're going to sell for a lot more than $16.
I kind of want that mindset when it comes to cash flow.
And just know you have to have money come in.
You can't keep spending because it don't work, right?
You can't sooner or later, you're going to run out of money.
I don't care how many credit cards you got.
I don't care how many distant cousins, family members you got that you're calling up asking
for money because you know, you've seen selling on Amazon is going to make you a millionaire.
Sooner or later, the well is going to run dry.
And then you're going to be in a situation where if you get to that point, now all of a sudden,
you're super leveraged, right?
So now you can't even think twice about not taking an offer because you have to take everything
because the bills have piled up to a point where you're just drowning.
And it goes to say, get rid of your death piles.
Honestly, if you're an eBay seller, there's no reason you should have one.
It's fine to have a Q pile, right?
That's like kind of the difference of the two.
Johnny B's got all of his stuff.
It's all kind of like a conveyor belt.
It moves one foot every day.
I'm the Ford factory of books.
It's not a death pile.
He doesn't go out, spend all this money on all this random stuff.
And then it just sits there and never gets listed.
And then, hey, look at Johnny B. He's out at the thrift store again the next day.
Like, let me pile more of my money in there.
And that's really what you're doing.
You're just kind of choking your own business to a point where it's not going to work.
You're going to fail.
Your reselling business is going to go away.
I think we're seeing a lot of that, right?
A lot of people have a lot of inventory either not listed or not priced correctly.
They're not taking offers just because they think that they need to get what they
through the $300 for that item that it sold for one time.
They think they need to get that.
And if anything else, even though they paid a dollar for it, it's a loss in their mind.
And when I first started eBay, I was greedy, right?
I was like, oh, yeah, offer, counteroffer.
And then Deb started yelling at me.
Deb was like, just take the offer.
I'm like, so, well, I mean, I guess if you don't have Deb in your ear,
I'm here telling you I'll be your Deb.
If you get an offer and it's reasonable and you're going to make a little bit of money
on an item that's been listed, take the offer every single time.
And that's how I am nowadays.
You know, I'm just going to take the offer every single time.
Give me your final thoughts on your own cash flow.
My final thoughts on cash flow.
I agree with Mike.
Take the money and run and look for cheaper ways to buy things, to run operations in your business,
a.k.a. buy used supplies, used everything, used electronics, used computers,
used wheelie bin carts, used tables, used tubs, used everything.
Buy used because you can always buy another one if it breaks for cheaper.
Yeah, I think that's going to cover everything for cash flow.
Remember, it's the most important part of your business.
Take the dollars today and you can go spend those dollars today better than you did last week,
yesterday, because your knowledge is always, you know, it's always growing.
You're always gaining more knowledge, more brands, more publishers.
And just realize, right, if you ain't got the money to spend,
then you got to start clearing things out.
List everything, no death piles, you know, reprice everything down.
If you don't have the money, there's so many things we can do to squeeze,
you know, a quick hundred bucks out of our businesses.
So don't get caught up trying to get the highest price for every single item.
And we will talk to you all in next week's episode.
Thanks for listening to another episode of the resellers mindset podcast.
Today's full episode and all previous episodes are available to all YouTube members
along with the weekly zoom call and private discord.
Head on over to youtube.com backslash to use book guy and consider joining for as little as two weeks.
Book guy and consider joining for as little as $2.99 a month.