Answering DIFFICULT Business Questions
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- เผยแพร่เมื่อ 10 ก.ย. 2024
- In this video we go over a bunch of questions you all sent in on Discord and TH-cam. We go over some VERY important business topics, talk about some things people at any business size can glean on.
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#business #reseller #ebay
My business did not blow up (in a good way) until I took Chase's advice, almost 2 years ago, to make professional relationships with other resellers. I cannot recommend this practice enough.
Having a sounding board to bounce ideas and learn new ways of looking at the business is critical. I participate in a small group of resellers where we each share our numbers every week, write a brief recap of the week, and share short and long term goals.
So connecting with others doesn’t have to be about getting inventory or doing business - just having other positive people to talk with is HUGE in building a business.
False: you dont need a LCC to get a reseller licence/Tax Exempt. A sole proprietorship will do
Connections have indeed been the #1 thing for me by far. Between knowing people to sell you things, people with buy lists, people that fix things, resurface things, have great ideas and advice etc it has completely changed my business.
Loved this episode…. I’ve watched 100s of videos from you guys, this is my favorite. Hanging fruit, is the best. Shipping frustrates me on my side hustle. I work full time and I’m always going to the post office. It is what is.. I pay for collections to be shipped to me, I feel shipping hurts my bottom line.
Didn’t expect a Roger Bannister reference! Love that!!
Thanks for sharing. My rule of thumb is never hire friends or family, it never ends well. California does not require LLC to obtain a resale license.
You do NOT need an LLC in every state to get a reseller permit. I'm sole prop in WA, and all you need is a business license.
I agree with Al Pal! The best console is the one where you have the most memories. Online play, the 360 is king for me. Insane hours played for Halo 3, Gears of War & CODMW3. And I can’t forget the SNES/64. Story play, PS has the upper hand. Uncharted, God of War and Spider-Man.
This nostalgia trip wont last forever my generation is getting older that like the old expensive games. I just turned 41 ans moat are older then me.
I absolutely love your Q&A videos! I'm a 27-year-old who started my eBay reselling journey in early June this year after watching your channel. I've learned so much from you guys and have watched almost all your videos.
I've been reselling part-time on weekends for about two months while still working full-time. So far, my total eBay sales are $3994, and my net profit is around $1700 after expenses. I've mainly focused on video games, cameras, and some clothing.
Interestingly, most of my buyers seem to be game stores or other resellers. I suspect they're buying my items to resell on Amazon for higher prices?
I'm considering expanding to Amazon. Could you possibly create a guide video on Amazon selling? Where does most of your income come from? I’ve noticed your eBay store has fewer game listings compared to other items.
As a side hustle, I'm unsure about taxes. Should I pay quarterly taxes on my eBay income to avoid a big bill at the end of the year? I'm still learning the ropes.
Thank you so much for your amazing content! I wouldn't have started this without you guys.
Thanks again,
Justin
Also we need Matt's wallpapers...
More videos like this for sure.
5:25 we discovered that chase watched winning time :D. Great show!
Huge respect for the Roger Bannister knowledge. I didn't expect anyone to know him that's not from the UK.
Shoutout to Sir Roger Bannister, what a true legend!
Where do you guys find out where different sales are (like for instance in the 10-50k challenge you said that the xbox 360 was advertised) and where would be the best places to look for stuff to resell be at? Thanks for the awesome videos :)
Thanks again! Appreciate you guys! Roadtrips for game hunting are 100% the best, and finding the hole in the wall restaurants are absolutely a must. Now that I'm living in Ohio, see you at TORG?
I really enjoyed this video. Good to get to know you guys more
Always about who ya know and being sincere
Common games and systems are highly seasonal. Sales die off on eBay when the weather is nice. Much more so with Facebook.
Thanks for answering my question, love the video idea and would submit another for the next one
Wait a minute, this video isn’t about Hot Topic.
I'm disappointed too
Its not about what you know, its about WHO you know
Ebay only work if you live in usa
That isn't true.
Thing that is holding me back this year is listing a lot of personal items. This was due to an insurance claim on our house so I had to re-evaluate my collections of tabletop rpg stuff of 1000+ books and 30,000+ miniatures, that only 10% of the items turn a profit
30k miniatures? Did you buy out a business or inherit wealth?
@@HermannTheGreat I got lucky with several collection buyouts when I thought it was buying complete sets and instead I got complete sets plus all of his duplicates. Then I was working at a comic shop and would buy cases of any of the D&D PPM when they went on clearance. (10 sealed cases, and. I still didn’t get a Mephistopheles, Lord of Cania)
@@earlgendron4893 I don't know much about the D&D miniatures, but that is an unbelievable amount of figures in general.
If it's a personal collection, why are you talking about profit? Buy cost isn't really relevant for personal items
@@maartenn2217 you have to pay taxes on profit even on personal items therefore they have to go in the same spreadsheet and the income is still on the 1099 and they still take up my listing time which is only 30 minutes a day most days, so they limit my time listing other items
Hi!
Yes. Please do more videos like this.
Are there any items from your personal collection that you woukd never sell or does everything have a price?
This video helped a lot thank you !
This was great!!
GameCube and DS, the top dogs
Matt is looking jacked !
I am sorry, before the first question, Al Pal comes in and is undressing me with his eyes... I don't know how I feel about that.
Great team!
I need pokemon persuit
I don’t think you need an LLC to have a resale permit… at least in Texas… I’m a so proprietor with a resale permit.
Same - Oklahoma
Same in California. You can get your "Seller's Permit" in CA without an LLC.
Wait can you explain if I should get a resale license? Been selling on eBay for a year without one. Do u need one??
@@z0mb3rry Wait can you explain if I should get a resale license? Been selling on eBay for a year without one. Do u need one??
@@steeziology Wait can you explain if I should get a resale license? Been selling on eBay for a year without one. Do u need one??
Thank you for answering! I'm currently in the weird middle ground area with where yearly sales are at $ the overall position of the business, relationships, etc. I'll hold off on help for now, but I'm one big step away from pulling the trigger.
What happened to Thane?
He got another job offer atleast 1-2 years ago chase said in an old video. He just shows up to hangout I think
Thanks for asking! I’m still around, and work more behind the scenes! I love hanging with Chase and the crew and have the privilege of doing what I love in full time pastoral ministry!
So I’ve never actually been on staff; I’m just an unofficial member of the crew! I enjoy supporting these guys!
- Thayne
@@catrpcrew Thayne such a blessing to be called into a pastoral role. I’ll be praying for you. Specifically for wisdom. I hate school but I would go to seminary in a heartbeat (if time and finances permitted) even though we are all called to create disciples 😉
@@jacoblayman2033 time and finances are keeping you from seminary lol? If you are called you're called, also many who go aren't and shouldn't try to be spiritual leaders. You aren't called if finances and time are keeping you out of ministry, don't be delusional. If that was the case, you'd be in rebellion and God will have his way ultimately so you'll go.
@@HermannTheGreat if the Lord wants me to go it’ll be clear. I thought that was inferred and Seminary is not required to be a spiritual leader.
For the algorithm
That steezy guy looks hot...
Anyone looking for an accountant, I'd recommend Everleslie Bookkeeping. She does my taxes and I believe Caleb's Phoenix Resale. Wonderful woman and business!