Guessing the topics before watching to see if i’m right: 1. Unsubscribe from Retro Rick 2. Stop buying shovelware 3. Hire your sunday school buddy for nickles on the dollar
One of the key takeaways for me is optimizing your workflow. If you find consoles are suboptimal remove it, if you find changing batteries in games are suboptimal remove it. A simple and linear process is the most efficient. For those wanting to get into console repair that’s a whole different process and it has a lot of dependencies and checks it has to go through before listing. In a perfect world you have the factory machines that run the consoles in diagnostic mode, but that’s very high cost for throughput, unless you’re like checking 20-50 consoles an hour successfully.
Thanks for inspiring me so much to commit to business opportunities in tandem with collecting! Today I snagged a sealed copy of Super Smash Bros. Brawl at my local Goodwill for $2.99!
Are you at all concerned with putting all your eggs in one basket, the Amazon basket? They have in the past made quick moves to shut down or limit their own programs they thought were not advantages to their core business. What do you do if tomorrow Phoenix Resale can only sell or list X number of item per month without paying higher fees or penalties and puts you in a much less profitable position?
@@bingevintage8124this is a super reckless mindset. Part of any successful person is being good with risk management. Completely disregarding hypotheticals because “you only focus on the here and now” leaves you wide open to get railroaded by something because you were too naive to think about other possibilities. It also shows that you just have no long term vision.
Yeah I think about this all the time tbh. Definitely scary. I think I'm confident enough in my ability to shift gears and figure out new platforms that the fear of losing Amazon isn't paralyzing. I'm just trying to take full advantage while the opportunity is here, knowing one day it probably wont be.
Very interesting I decided controllers and consoles weren’t worth the hassle to sell as well, I usually offload consoles at local video game stores and a nice discount, I don’t have to deal with it, store gets inventory. Win win for everyone
I do have a Q. Why did you opt to make a new channel for this kind of content, rather than your main channel. This is great info, and i feel it would have done well on your main channel too, maybe even grown it more. but idk much aboit this stuff at all. Thanks
I don't sell in Video Games, But Sometimes, I like what what Caleb Says and I applied it to my own vintage toy reselling. When I put limits on things that don't well for me. that is Less Better. :)
Wonderful advice!! Wondering how to advertise in purchasing games. So far the hardest part of reselling for me is being able to keep stock. And not get blasted with shovelware.
Any tips on what to or how to do better with a small budget? I usually have about 100-150 to flip with. I don't ever get to keep more, the extra I make goes to bills. Do I need to buckle down and keep the "profits" to use to flip more items?
Your thumbnail should’ve been a book cover with the same/similar title. Also, I would probably buy such a book should you ever write one. I’m a big fan of your business and videos!
I dont have enough inventory or means to get inventory to only focus on games, even though you can process more games per hour. Console are way better for me.
Here’s a suggestion: I noticed that you never answer comments or even do a thumbs up. If you spend just 5 minutes per episode doing that, I think there would be more people commenting cause almost everyone like interacting with the creator. More comments = Good for the YT algoritm = More viewers = More money for you.
To add to point number two (which I think was moved on from a little quickly), one concept I've been guilty of not following is goals vs. systems. A goal is great, but if all you work toward is achieving it, then what? For example, if you have a sales dollar goal that you want to hit for the month, and you go all out and work a ton of extra hours, pull all the strings you can, call in favors, and run yourself ragged to hit it, what good does it do your business in the long term? You haven't actually built anything sustainable. Goals help you succeed once, systems help you succeed over and over.
I think you could optimize your process of processing consoles quite a bit. If you have the space, I’d suggest having a couple of TVs set up with power and video cables already hooked up. Then all you’d have to do is plug in each console and test if it reads the disc. This works especially well for pre-internet consoles. Some of the more modern ones like Xbox ones require more time to configure and test and I’d avoid Xbox ones for that reason. Some people like to test consoles to see if they connect to WiFi and that’s a time intensive process so I’d also avoid consoles that require that. Regarding cleaning them, I’d limit your console trade ins to consoles in very good condition so you don’t have to worry about that. If someone sends in a bad looking console you can deduct for it and maybe hire someone locally to clean/prep inventory if you don’t want to do it in house. And I’d require all consoles come with all needed cables and an OEM controller. Having a supply of backup power cables and video cables for each console is nice too. Also, for some consoles, you could require people to factory reset it prior to them sending it in to help save on time. I used to be a reseller and consoles were how I made most of my money on FBA. Even 5-10 min of work per console is a really great ROI if each console brings in $50+ in profit. Just something to think about as it could really help you earn more money.
Amazon restricts access on most of their best selling products. The average reseller can't get authorization to resell Nintendo games in particular. That's how they artificially keep item prices high.
The wording you are looking for is the "time value of money". When considering any investment, you need to consider the return on the investment over time against the return on other investments. In your case, the potential return from consoles versus games over a specific time is lower for consoles than games.
This isnt specifically, what time value of money means, but its the same concept. Time value of money basically states money is worth more now than in the future. The inverse of TVM is that time also has a value and maximizing the value of time is the objective.
Yes! I hear Reserved Investments talking about that all the time. I don't think I have a great handle on the concept yet but could be great for a future vid!
Hey it seems like you are finding your way through a lot of business concepts as a result of improving your resell business I think based on what you've learned in the past year you should look into complexity reduction (another reason to avoid consoles and battery repairs) and lean six sigma (systematic approach to solving problems and exposing opportunities for improvement) Seems like youd be interested!
Or a table lying on the floor isn't a table at all and doesn't fulfill the purpose it was intended to do Plus anyone with wisdom knows over time everything needs to be mended maintained and repaired
Repairing a pokemon game should not take more time than it takes to send it to being repaired. I think you could simply learn the skill to make it fast. Then it would be worth it for you to repair it yourself.
I figured a comment like that would get an answer…I made a bunch of positive comments on your videos and this is the first that get an answer… Always the negative ones that get peoples attention.
I'm 28 literally losing functionality of my limbs...it's been 3 years, no I am not as happy as I was when I was 25. able bodied and working. Please be more tactful in examples you give, I get it was a study, but that was just upsetting to hear.
Yo fellas, lets practice what he said about opportunitiy costs. Unsub and close your youtube account so you can maximize your income by trading the 14 mins that you could've spent on watching this video for money.
How about getting a real job with insurance benefits and 401k? You are not doing the gaming community any good controlling the market with your buy list prices. TH-camrs and these turn and burn resellers ruined the video game market.
I've actually talked in a previous vid about how sellers can't set prices in a market with high competition, I think it was two vids ago if you're interested!
Guessing the topics before watching to see if i’m right:
1. Unsubscribe from Retro Rick
2. Stop buying shovelware
3. Hire your sunday school buddy for nickles on the dollar
lmfao
@@declanmckeown323 Safe to say I was pretty close
hey, $3.50 an hour would be pretty competitive in rural pakistan
One of the key takeaways for me is optimizing your workflow. If you find consoles are suboptimal remove it, if you find changing batteries in games are suboptimal remove it. A simple and linear process is the most efficient.
For those wanting to get into console repair that’s a whole different process and it has a lot of dependencies and checks it has to go through before listing. In a perfect world you have the factory machines that run the consoles in diagnostic mode, but that’s very high cost for throughput, unless you’re like checking 20-50 consoles an hour successfully.
DKOldies are experts at that.
@@mariokart8715 As so many who have unboxed and opened their consoles they do the bare minimum to refurbish their consoles
Thanks for inspiring me so much to commit to business opportunities in tandem with collecting! Today I snagged a sealed copy of Super Smash Bros. Brawl at my local Goodwill for $2.99!
Are you at all concerned with putting all your eggs in one basket, the Amazon basket? They have in the past made quick moves to shut down or limit their own programs they thought were not advantages to their core business. What do you do if tomorrow Phoenix Resale can only sell or list X number of item per month without paying higher fees or penalties and puts you in a much less profitable position?
If you were to hang your hat on hypotheticals then no one would be successful you can only focus on the here and now
It would suck, but I think that videos like this one show that he'd manage to pivot his business to being profitable again very soon
@@bingevintage8124this is a super reckless mindset. Part of any successful person is being good with risk management. Completely disregarding hypotheticals because “you only focus on the here and now” leaves you wide open to get railroaded by something because you were too naive to think about other possibilities. It also shows that you just have no long term vision.
Yeah I think about this all the time tbh. Definitely scary. I think I'm confident enough in my ability to shift gears and figure out new platforms that the fear of losing Amazon isn't paralyzing. I'm just trying to take full advantage while the opportunity is here, knowing one day it probably wont be.
Very interesting I decided controllers and consoles weren’t worth the hassle to sell as well, I usually offload consoles at local video game stores and a nice discount, I don’t have to deal with it, store gets inventory. Win win for everyone
I do have a Q.
Why did you opt to make a new channel for this kind of content, rather than your main channel.
This is great info, and i feel it would have done well on your main channel too, maybe even grown it more.
but idk much aboit this stuff at all.
Thanks
Good people for sure!
You and spanky been a pleasure with doing business with this year.
Started eBay today. They are delaying the $600 rule for anyone that is interested in selling on eBay.
Great that you share this information Caleb and very nice to hear and see that your business is doing so well, keep it up, greetings from Amsterdam
The hair is looking skrong as ever brother! Love these videos from you as well man.
Love the fact the you put on a button up shirt to work in your basement
I don't sell in Video Games, But Sometimes, I like what what Caleb Says and I applied it to my own vintage toy reselling. When I put limits on things that don't well for me. that is Less Better. :)
This man's hair is looking slick
Wonderful advice!! Wondering how to advertise in purchasing games. So far the hardest part of reselling for me is being able to keep stock. And not get blasted with shovelware.
Repair and putting time changing pokemon batterys ,cleaning consoles is also a passion for videogames ,it's not all about the money .....😮
Any tips on what to or how to do better with a small budget? I usually have about 100-150 to flip with. I don't ever get to keep more, the extra I make goes to bills. Do I need to buckle down and keep the "profits" to use to flip more items?
This man in one takes, pure mastermind.
Your thumbnail should’ve been a book cover with the same/similar title. Also, I would probably buy such a book should you ever write one. I’m a big fan of your business and videos!
Caleb, I don’t want to resell. I’m here for Spanky.
I dont have enough inventory or means to get inventory to only focus on games, even though you can process more games per hour. Console are way better for me.
Do you test all of the games you get in to make sure they work before selling/sending them to Amazon?
Here’s a suggestion: I noticed that you never answer comments or even do a thumbs up. If you spend just 5 minutes per episode doing that, I think there would be more people commenting cause almost everyone like interacting with the creator.
More comments = Good for the YT algoritm = More viewers = More money for you.
To add to point number two (which I think was moved on from a little quickly), one concept I've been guilty of not following is goals vs. systems. A goal is great, but if all you work toward is achieving it, then what? For example, if you have a sales dollar goal that you want to hit for the month, and you go all out and work a ton of extra hours, pull all the strings you can, call in favors, and run yourself ragged to hit it, what good does it do your business in the long term? You haven't actually built anything sustainable.
Goals help you succeed once, systems help you succeed over and over.
Yeah I agree I didn't do that one justice, thanks!
I think you could optimize your process of processing consoles quite a bit. If you have the space, I’d suggest having a couple of TVs set up with power and video cables already hooked up. Then all you’d have to do is plug in each console and test if it reads the disc. This works especially well for pre-internet consoles. Some of the more modern ones like Xbox ones require more time to configure and test and I’d avoid Xbox ones for that reason. Some people like to test consoles to see if they connect to WiFi and that’s a time intensive process so I’d also avoid consoles that require that. Regarding cleaning them, I’d limit your console trade ins to consoles in very good condition so you don’t have to worry about that. If someone sends in a bad looking console you can deduct for it and maybe hire someone locally to clean/prep inventory if you don’t want to do it in house. And I’d require all consoles come with all needed cables and an OEM controller. Having a supply of backup power cables and video cables for each console is nice too. Also, for some consoles, you could require people to factory reset it prior to them sending it in to help save on time. I used to be a reseller and consoles were how I made most of my money on FBA. Even 5-10 min of work per console is a really great ROI if each console brings in $50+ in profit. Just something to think about as it could really help you earn more money.
Totally true, we could definitely get our consoles/hour rate up with the right setup, especially if we had a bunch of the same kind to go through.
DKOldies does all this kind of work.
Forgot to spell check that “equilibrium” . 😂 highest quality content here folks.
10:05 my dumbass said flip the table 😂
What u are talking about is comparative advantage and specialization
😂 2hrs of Spanky Labor 😏
You beat me to it! Lol
@@WebWovenWars sry 😅
I have a bachelors in finance, thank you
love this channel
You look handsome with your hair grown out and the beard man! Nice!
I literally thought it said Opportunity Lost at first haha
Curious why would resellers don't just ship to amazon directly? they handle all the fulfilment right?
Amazon restricts access on most of their best selling products. The average reseller can't get authorization to resell Nintendo games in particular. That's how they artificially keep item prices high.
Long time since I seen video great video and Caleb your hair 😮
I tend to change dry batteries while im at my regular job.... shhhh dont tell them....
Caleb is the now the professor of reselling. And I forgot to bring an apple.
I literally just ordered a whiteboard this week! its about to get REAL collegiate up in here
have you played any video games lately?
I'm starting to think Spanky is legit your slave...when you think more of him listing than picking you up lol wtf? What a great friend!
SNES mini doesn't come with a brick just the micro USB cable
It was made to be able to use the USB built into most usbs
The wording you are looking for is the "time value of money". When considering any investment, you need to consider the return on the investment over time against the return on other investments. In your case, the potential return from consoles versus games over a specific time is lower for consoles than games.
This isnt specifically, what time value of money means, but its the same concept. Time value of money basically states money is worth more now than in the future. The inverse of TVM is that time also has a value and maximizing the value of time is the objective.
Yes! I hear Reserved Investments talking about that all the time. I don't think I have a great handle on the concept yet but could be great for a future vid!
Hey it seems like you are finding your way through a lot of business concepts as a result of improving your resell business
I think based on what you've learned in the past year you should look into complexity reduction (another reason to avoid consoles and battery repairs) and lean six sigma (systematic approach to solving problems and exposing opportunities for improvement)
Seems like youd be interested!
Ooh great suggestions!
One day I hope you return with regular “hey ima go see how much money ima make with no added thing attached”
The only question that matters. Does Renix Pesale believe that HIMS works well? serious question.
Or a table lying on the floor isn't a table at all and doesn't fulfill the purpose it was intended to do
Plus anyone with wisdom knows over time everything needs to be mended maintained and repaired
Repairing a pokemon game should not take more time than it takes to send it to being repaired. I think you could simply learn the skill to make it fast. Then it would be worth it for you to repair it yourself.
Even if it's only 5 mins I'd rather pay the $3 to save myself that time.
But you are not saving time because you have to put the same time into mailing the game to be repaired, no?@@renixpesale
Did you die your hair or your beard? Why are they different colors
It's just some kind of sick genetic joke.
damn spanky got a raise ?
Opportunity Cost - always keep working while recording a talking video, it's like free labour!
This man gets it
Another day in the life of Caleb
I got charged $20 just for a battery at video game store
🔥
It seems like your ready to move on to something where you're around positivity..me too
Man. What did this guy major in? Or all self taught??
International studies lol. Also minored in Spanish and philosophy.
Why not just use public transport, instead of an uber?
The time I'd save taking an uber is worth the cost
U spelled equilibrium wrong
Did you dye your hair?
Commenting so someone else can’t say first
W guy
A question to all, do you think Caleb actually read comments? 🤔
I do not
I figured a comment like that would get an answer…I made a bunch of positive comments on your videos and this is the first that get an answer… Always the negative ones that get peoples attention.
Your just maxing out man
Couldnt u just hire another spanky and just process more ?
I'm 28 literally losing functionality of my limbs...it's been 3 years, no I am not as happy as I was when I was 25. able bodied and working. Please be more tactful in examples you give, I get it was a study, but that was just upsetting to hear.
What happened to the goofy guy who buys all the games? You are so serious now…. Lol
Haha that guy lives on Phoenix Resale
:D
Yo fellas, lets practice what he said about opportunitiy costs. Unsub and close your youtube account so you can maximize your income by trading the 14 mins that you could've spent on watching this video for money.
but you wouldn't have learned about doing that unless you invested the 14 min watching this video to learn that step to earn more money.. gottem
OR even better, only put this channel on in the background for when you're already doing work!
3rd lol
first
Full of…
Bro is using hair product
Number one way to beat 100% of resellers:
Get a real job.
Ignorance must be bliss for you. Along with an inability to think. At all.
How about getting a real job with insurance benefits and 401k? You are not doing the gaming community any good controlling the market with your buy list prices. TH-camrs and these turn and burn resellers ruined the video game market.
I've actually talked in a previous vid about how sellers can't set prices in a market with high competition, I think it was two vids ago if you're interested!