Almost ALL Resellers Fall Into This Trap - Here's How To Avoid It
ฝัง
- เผยแพร่เมื่อ 25 ม.ค. 2024
- Reseller Greatness Episode 10 With @Isaiahtmn
www.patreon.com/resellergreatnesspodcast
If you want to learn about Reselling the right way, please check out my Reseller Community.
- 20+ Live Coaching Calls in every niche weekly
- Everything is recorded for replay
- No drama community
- 24 Hour Live Co-Worker Room
- Access to the most comprehensive database for reselling on the internet.
- Everybody moving forward in a positive productive direction
- Goals & Accountability www.patreon.com/resellergreatnesspodcast
Try it for a month, what's the worst that can happen? You improve your business? Or your money back!
www.patreon.com/resellergreatnesspodcast
#ebay #ebayseller #reseller #thrifting
Check him out on Instagram at @isaiah_tmn, his stories daily are amazing
Always love talking with my guy Isaiah, always tons of value, he's a huge giver!
www.patreon.com/resellergreatnesspodcast
If you want to learn about Reselling the right way, please check out my Reseller Community.
- 20+ Live Coaching Calls in every niche weekly
- Everything is recorded for replay
- No drama community
- 24 Hour Live Co-Worker Room
- Access to the most comprehensive database for reselling on the internet.
- Everybody moving forward in a positive productive direction
- Goals & Accountability www.patreon.com/resellergreatnesspodcast
Try it for a month, what's the worst that can happen? You improve your business? Or your money back!
www.patreon.com/resellergreatnesspodcast
Hi Tech, I'm a relatively new viewer, and I love your content; I'll definitely be checking out your Patreon. The way you speak, thoughtfully and in plain language (and thankfully NOT super fast, which gives our brains more than .02 milliseconds to process what was said 😁) is a welcome bonus. This conversation with Isaiah was exactly what I needed to hear right now; thank you so much for sharing it. I wanted to mention one thing: when Isaiah asked you toward the end about what your path would be for people trying to become resellers, but because of their current expenses have a limited time to start bringing in X dollars or they'll have to try something other than reselling - I was really looking forward to hearing your reply. As Isaiah said, it's a situation that many people are in. I heard, and agree, with your advice to set small, actionable daily goals on a regular basis, but I was a little surprised that you questioned, gently but just a teeny little bit scornfully it seemed, people not having 3 or 4 or 15 years to "take it easy and learn the craft." I totally get that forcing things is not the way to build a sustainable business, and eBay is definitely NOT a get-rich-quick scheme. And I couldn't agree more that jumping into something without thoroughly educating oneself first isn't the best way to succeed. But let's be honest; for all kinds of reasons, many people just don't have that luxury. And often, many people who discover reselling and want to give it a try - like myself, I admit it - tend to dive in headfirst without enough preparation, and before they know it they have a death pile and they're losing money. It's totally a thing, and it would be great if we collectors and treasure hunters weren't so susceptible to it, but if that were the case then many TH-camrs would be out of a job 😄You're fortunate that you've never had constraints, as you said, but I hope you can understand why many others do, especially in the current economy. Many people have a limited amount of time to bring in X amount of money to feed their kids/pay their mortgage/etc. (that was certainly the case for me, when I was let go from my job thanks to COVID layoffs). Some may have a spouse/partner that isn't very supportive and will only tolerate their devoting a certain amount of time to starting a business before demanding that they take the very next job offer that comes along. There are countless reasons why people have constraints. And if your advice would be that people probably shouldn't pursue reselling as their first option when they have time constraints on their income, then that's 100% fair. It was just a little surprising to hear you questioning why people can't be patient and why they don't have several years to spare. I hope you don't mind my sharing my thoughts and I hope I was fair and not judgmental. I hate comment wars, and I try to be as polite as I can even when disagreeing with someone. Thank you again for what you do; I'm looking forward to learning a lot from you.
All those reasons are reasons why it's not going to work. I've seen more people than I can count who go out of business for every single reason you listed above. I started 15 years, there is next to nobody who is still doing this 15 years later. If you don't want to take your time and learn you will be out of business, I can promise you that. If you need money today, if you need money faster, get a job and resell part time until your ebay business can afford you the luxury of doing it full time.
Nothing about ebay is get paid today. Get paid fast. GREAT items sell in 30, 60 or 90 days.
We don't have to resell, we don't have to resell full time. If we need faster money, we can go get a job too. @@dawnieb.7394
@@technsports now that I have the experience of the past few years behind me, I can 200% agree! I think it sometimes just needs to be said more explicitly, like you did above: get a job and resell part time, and LEARN and then DO. I did know better (I've been in corporate marketing for a long time, so I TOTALLY knew better), but I was seduced, I tell you! 😂I truly believe that the thrill of the hunt is the #1 achilles heel for many passionate collectors who try reselling; it's a hunt that never has an end because there's always another treasure to find, and it can be overwhelmingly intoxicating. I sensed it coming, but I still fell right into its trap. I was finally able to get out from under, stopped buying, and spent a lot of time reviewing what I'd learned (and then kept learning more), and now I'm getting restarted from the ground up, so to speak - in my spare time, focusing first on building an actual business the way I knew I should have done all along. I'm getting much better at taming the beast and sourcing more wisely now, paying attention to metrics and profit margins and without going overboard. (BTW, FANTASTIC nuggets from your video with Mel last month, in particular that desperation can lead to poor decision making (as can too many shiny pretty things), but most especially: I DO NOT HAVE TO SELL EVERYTHING - i.e., just because I sell antiques or jewelry or clothes doesn't mean that I must sell ALL of them. And just because an opportunity may come along to get a truckload of items for next to nothing, doesn't mean I HAVE to. This resonated hugely for me, so thanks to you both for the reinforcement! And thank you very much Tech for your reply; have an awesome day!
Thank you so much brother! I'm always learning from you and I massively appreciate how much you've poured into all of us over the years. Super excited to come back on in the future and report the good news. You know this stuff gives me anxiety, but I love that so many people are getting value out of this conversation. Thanks for having me!
Great conversation!!! When Tech said everyone else is getting paid more than the seller in some cases - that absolutely hits hard! This is not a charity business!
I think about that often
100%! It took me a little while to recognize that, but it's the truth! All the volume was blinding me from the actual numbers. Selling 700-800 pairs a month but making less money than I made when selling 450-550.
Isaiah you are twenty four (I believe you said) $198K in 2023, very impressive!!!
You are doing it all!!!
Husband, Father, Self-employed! Much RESPECT!!!
You have a very important quality about you, you are "teachable".
You will absolutely go far!!!
Thank you for inspiring us all❤
I agree, he's doing a great job. Supporting his family, paying all his bills and working on getting over that bump to take it to the next level
Thank you so much for the kind words! This comments truly warms my heart and motivates me a ton! I'm glad it was valuable and I'm glad that Tech had this conversation with me! I truly appreciate you!
Love this group for real. Since I've joined, I've been at it letting go of all the crap I've been holding onto that hasn't moved after 90-180 days. Doesn't matter the price. That "Parking Space" analogy is easily the best advice anyone can receive from Tech in this game.
Glad you are enjoying the group! I appreciate you!
respect to Isaiah for the transparency & all the helpful advice. Best of luck this year with continued success
Isaiah is the best! Thanks Sigil!
I'm glad it was valuable! Let's crush it this year!
I was a marketing executive for a good minute and one of the things I would advise my clients to do is add value-added items to your products. For Isaiah, this might mean shoelaces in a good variety of prints and colors, sneaker cleaning kits, socks from casual to good wool hiking/outdoors level, water bottles and fitness stuff etc. All depending on his storage and shipping profiles of course. Think of how a waitress gives herself a bigger tip: INCREASE THE TICKET AMOUNT by offering sides and desserts (and alcohol lol). Edit: So the part where they kind of approach this subject is talking about adding sandals (you could offer toe rings and nail polish lol) and baby shoes. For my example in particular, the client had to by a large amount of smaller items because they had almost no storage space left in the warehouse. They were able to keep thousands of "smalls" in the space of a pallet. Numbers would need to be crunched for each business model.
Definitely. So long as it moves the needle value & profit wise vs the time spent trying to push it and manage it.
A real reselling session with real people. Can't get much better than that. Thank you and props to you both.
Appreciate you checking out the podcast Mike!
Thank you! Glad you enjoyed it!
Thanks Isaiah. Merging the theory with all the practicalities of real life is the hard part. I'm sure many of us can relate. I hope the benefits of changes are starting to flow yo you & your family. Thanks Tech 👍
Our pleasure, thank you for checking out the podcast this week
Great content...thanks for your honesty Isaiah and for taking it on the chin to help us all. Much obliged to you both
🤩
Isaiah is the best!
Thanks Cindy! Loving your progress lately! Can't wait for the report on the 2nd!
Wow, grow Wide!! and Extra Credit. Will Watch again to let it really sink in. Thank you Tech and Isaiah!!
Thanks Annette!
I've been learning more every video I watch. Today I went thrifting. I passed on the pennies. In the past I would have picked them up. I aimed for the $1 items. I also traveled to go to a GW instead of sticking around here where I have access to 6 local GW stores. I had a cart full. I spent $146. 3 items, if they sell for full price, will give me the $146 back. Even if I sell them for an offer I'll still get close to my investment back with 3 items. Everything else I sell will be profit. Thanks Tech and Isaiah. Awesome video.
That's the way it's done right there!
One of my biggest weaknesses has been picking up items because I knew I could sell them, but not considering SHOULD I be selling this item. So I love that you've already figured out that you should be getting massively profitable items thus giving yourself so much more room to grow and save! Hopefully you come back and tell us more about how that buy goes! I'm glad the video was valuable!
This was really the most interesting conversation. Thank you both!
Thanks Jeff! Appreciate that
Thank you!
I just did it! I picked up a tshirt, looked at the tag and saw "liquid blue" and recognized the name. Yay! Thanks!
💸💸💸💸
Loving the pods! Really appreciate what you do 👊
Appreciate you checking them out!!
Isaiah, many of us can relate to you. Thank you for sharing your reselling journey. It was very informative and resonate with a lot of us struggling. Thank you Tech for your insights and sharing your knowledge and taking time educating us. Looking forward to join the groups soon.
Isaiah is doing a great job providing for his family and earning a great living. He has a really bright future
I was super worried that maybe it wouldn't be relatable, but this comment section has changed my mind about that. I'm glad you received value and I hope to see you in the group in the future! Thank you for this!
Poor Isiah always taking the punishment lol. Love you both. Best of the best
No tough love here, just a great conversation
Isaiah asked questions I didn't know I needed to ask. Eye opening. Thanks!
Isaiah asks the best questions, he makes me better as well
This is the most In depth reseller conversation I have ever heard. We need more of this.
I would love to be on this podcast
Check out all the other previous podcasts, tons of info in all
That's really awesome! Tech always brings heat. He's definitely a gem in this community!
What an awesome reselling discussion! Sure appreciated Isaiah being so real about his business. I absolutely love these videos as well as all the posts from the watchers. I'm so glad that you, Tech, are doing this to 'teach us how to fish'. Thank you and thank you, Isaiah, for being so vulnerable and in that respect, also teaching us.
Isaiah is the best, he sure makes me better as well. He's doing a great job. Running a business, paying all his bills, new baby, new family. Maintaining. Just need to get into that next gear. Growing pains.
Thank you! It's definitely anxiety inducing sometimes, but I just want to pay forward all the value I've received over the years. If my story and journey can help someone else, then I'm totally fine with that! Glad you enjoyed!
I need this type of conversation daily to listen to while working. Thanks for the motivation guys!
Replay all the podcasts lol. Tons of info in all for daily motivation
@@technsportsI've heard a lot of them. This one just hit different. Thanks for all you do.
Glad it was valuable! I'm constantly learning from Tech and tons of other people in the group!
Such a good informative video!!! Something all resellers struggle with is when to counter vs holding on to inventory
Absolutely. Thank you for checking out the video I hope you enjoyed it!
For sure! So Glad it was valuable! Talking to Tech is always an excellent experience!
Oh my, this was soooo important and informative for just selling period, whether on platforms, booths at market places, or flea markets. Finding good items that gives better returns are ALWAYS KEY…to any business!😊Thanks for sharing.
My pleasure!
Another brilliant video and great info... and perfect chat. THANK YOU BOTH! The "Happy Medium" is the balance that is tough to figure out, but once you do... and you can grow it all, you have the keys to success!
I agree fully!
Wow. What a convo. More like this please. Love to see the real world problem solving. I’m taking so much away from this. Thx boyz!
Our pleasure, Isaiah is the best! He will get over these growing pains.
I'm glad to hear it! Thank you so much!
Oh my gosh what a conversation! Snoozing watching jewelry videos clicked on this and next on the edge of my sofa wanting to get inside my tv and repeat what tech has been advising for months on you tube. Search further for higher dollar items. Time and health is our most VALUABLE asset make packing that item sold a memorable profitable sale.
Out with the fluff, just a wooden knife in my side rib. Happy hunting for 2024!
Appreciate you checking out the Q&A! See you live next time!
Absolutely right Tech! This discussion was so relatable to so many resellers! Love this type of video - so much information and helping a fellow reseller. I too am in a rural area Isaiah! I had to learn quite a few niches so I can utilize one store for as many profitable items as I can find. You sound like you're going to figure this out quick! Wishing you all the best :)
Isaiah is doing great. Paying all his bills, providing for his family & daughter. I wish I had his common sense at his age
That's the game when you live in a more rural area! I'm glad that you enjoyed it! And thanks so much for the encouragement!
I'm totally sucked into this conversation😂.Dropping gems......
Great questions Isaiah. Glad you were on the podcast.
Isaiah is the best. He makes me better too
The most impressive thing about this is you respond to every comment! lol, keep doing your thing Tech. TH-cam channel goin ⬆️ 🆙
Will always do so as long as it's humanly possible. You guys take the time to write me, but I can't take the time to write you? C'mon
Great video and conversation! Isaiah you are going to kill it! Keep improving because you have what it takes to be successful!
Thousand percent agree. He's gifted
Will do! Thank you so much!
Thank you both for the refocus jolt! Always so valuable!
Our pleasure, thank you for joining us!
We all need that refocus sometimes! Glad it was valuable!
This is the most sincere, on-point and helpful video on TH-cam. Tech showed so much patience with Isaiah to help him understand what he needs to do. Tech's insights apply across the board to all resellers - from everything (like me) to the niche sellers and how to grow your business. Thank you.
Appreciate that! Isaiah and I have a decent history of these types of conversations. He's the best
I'm so glad this was valuable! He's been so valuable to my growth over the years. Couldn't do it without him
Awesome stuff!! Fun watching Isiah come up. He was still experimenting with his store even a few years ago and saying the same stuff lol. But he’s grown quite a bit since he’s started. Good stuff guys, thank you.
He's doing great and will only continue to improve. I know he'll accomplish some great things
Awesome video! I feel like this video uncovered one of my biggest reselling problems. Thank you for the invaluable info.
My pleasure, thank you for checking out the discussion I hope it was helpful!
So glad it was valuable! Thank you so much!
Wow this was one of the best videos you’ve put out (and I love all). So relatable! I learned so much, thank you! 😊
I do this every day in the group lol
@@technsports can’t wait to join next month in February ☺️🤩
Can't wait to see you in the group! Thank you so much!
Could listen to you guys all day! Thanks to you both 🎉
Appreciate that! Everybody follow @boldfinds
Thanks James! Truly appreciate you brother!
Learned a lot from you both. Thank you!
Our pleasure. Isaiah is the best
The Goat thanks for all the knowledge you give..Appreciate it.
Appreciate you checking out the podcast this week!
Excellent podcast! I love hearing from both of you, i respect you both so much. 🥰
Thank you Dana! Isaiah is the best
Thank you so much Dana! Yesterday, My wife and I were talking about you and the peace signs we'd do at the end of the call! I truly appreciate you!
I totally remember that!! I just followed your Insta, i'm going to binge watch your stories. Thanks for all that you do, hope you, your wife and lil baby girl are doing great! @@Isaiahtmn 🥰
Very motivating conversation Tech!
Appreciate you checking out the video!
Excellent! One of your best!
Thanks! Isaiah is the best!
Mind blowing information. So many golden nuggets in this video.
Isaiah always brings the heat! Love his curiosity for learning and getting better.
Thank you so much for this, great video with so much positive info❤
My pleasure, thank you for checking out the video Robin!
This was a really great episode. I appreciate his honesty.
Isaiah is the best!
I try! Thank you so much! Glad it was valuable to you!
Tech Tech tell Isaiah I was a caretaker for my dad and I didn’t leave the house for 4 years! While I was mashing potatoes or serving meds I had my finger on refresh button for David yurman on posh allll day. Scoring allll day. Profits were criminal. His wife as a caretaker can pick a shoe designer and pick up designer shoes alll days and flip for good profits. Just throwing the idea out so caretakers can have a little outlet too and make money. ❤
Money is every where. If there is a will there is way!
If you aren’t using shipping as a profit center then you aren’t doing ebay wrong. You are doing business wrong. Glad that was shared here.
Agree with that
Love, love this segment!!! Exactly what I'm experiencing now. Just started my eBay business in Nov. 2023.
Good luck on your journey!
Beautiful! You're found the right channel to help you grow! Tech is a wealth of information!
Great questions Isaiah!
Isaiah is the best at asking great questions
Thank u for this video everything u say is helpful
Thank you for checking it out!
So many gems in this one. Isaiah’s bright young man running his business on top of all of his expenses and family. Wish I had even half of his focus or drive when I was 24. Thanks for the knowledge.
Amen to that my man. Dude is miles ahead, taking care of his family. He'll get it all
Thank you so much! I couldn't do it if it wasn't for the people around me. I'm glad we could provide value for you!
Another banger by the GOAT, and Isaiah!
Appreciate you checking it out!
Such an eye-opening conversation with so many takeaways! Thank you both!!
Thanks Desiree! Appreciate you checking out the podcast, Isaiah is the best!
Thank you so much Desiree! You're awesome! I'm always learning things from you! Thanks for being so awesome and giving with your knowledge!
Knowledge Bomb!!! Join the group if you haven't already. If you feel like the items aren't there that hit your metric... learn a separate niche or more brands. The money is out there. Go get it.
Items and money everywhere!
Best video to date.
Nice!! Mission accomplished
Enlightened some more things for me! Thank you!
Appreciate you checking out the podcast kt!
Thanks Tech! Today I learned that you must stick to your metrics. Many times you will need to pass up items and keep looking.
Oh absolutely. 99% of items out there are not for us
I think your knowledge and experience help a lot in being able to source good items, anywhere.
Of course it does, why wouldn't it?
This is podcast is very informative. I know a lot of us relate to Isaiah, including myself. Reselling is very complex and even smart people struggle sometimes, but thankfully we have Tech to guide us and help us become great resellers😊
It is very complex, we have to wear a lot of hats in our gig. Hopefully with every video a nugget can be learned and make all of our jobs a little bit easier.
I was worried that it may be not very relatable, but this comment section has changed my mind! Thank you so much! I'm glad it was valuable!
I really enjoyed this video! You are doing great! Just getting into sneakers myself and I hope to get to that level🎉 Love the videos Tech! Thank you again!
Thanks Bella! Great nice, good luck on your journey!
Lets go! The shoe game can feel brutal sometimes (especially with the cleaning) but I absolutely love it!
@Isaiahtmn 🤣 It's the sourcing with a 3 an 1.5 year old for me. I'd rather clean them lol But trying to find 10 pairs with 2 kids in the cart isn't fun😅 But I'm still trying ✌️
Great discussion. I would never let anyone coach me on growing my business unless they showed me their books. Not personal stuff but basic metrics. But the fact of me asking for that means I likely already understand money and scaling which I do and that's always been an advantage. I've been watching resellers on YT for years saying they're doing it Techs way except for this and that. So not techs way. The winning is in the fine tuning and the margins and it shows how unbelievably tricky this can be because Isaiah is obviously one hard working smart guy. He'll achieve his goals no doubt.
Nobody does it the exact way lol. Always a caveat and then wonder why it's not working.
@technsports they do at chick-fil-A. The average franchise owner there makes way more than other fast food biz. Their site says they only approve 0.4% of applicants. You need to convince them you will do everything their way and even then it's only the top of the top. You're that guy but you make it look easy. I do think youd be one of chosen franchisees. I'd love to hear some of those interviews. You'd have to say more than you love their sandwich.
Coneyoe u speak the truth. MUCH RESPECT!!!
😂
It finally clicked for me after watching this video. I have now set my goal at $20 net profit on everything I buy. Before I didn’t really have a thought about how much I wanted to make per item but this has motivated me so much. Love your videos. They’ve helped me a lot! Their pruning and shaping me to become better and better as I continue to learn and put it to action. Thank you!
So glad to hear that Travis! Let's go!
Same! It took me a long time to make this revelation. You need a profit metric and a sell through metric. And then ideally, you want as many of your items as possible to meet both metrics. That's the secret. (Making the amount of money you need per item and selling it in a reasonable time frame.)
love this one! great topic-- I need the exact same guidance! I want more money in my pocket man!
Great to see you Nayla & Good to see you on the Posh call yesterday! Still trucking over there!
Great call.
Appreciate you checking it out Shem!
@technsports I'm always in the background listening and learning weather it's on TH-cam listening to your video to watching your podcasts or calls its great 👍 that's why I became a member.
So helpful for me. I need to up my game
Let's do it in 2024!
BOOM! new dropsss
Out here!!
This session was so relatable and comprehensive. Tech, I love that you reiterate the importance of recycling intial investment as to utilize the profit to save, pay bills and scale up business responsibly. I remember when you said that so long ago and then again on this channel.
I am reminding myself of this everyday as I enter year 2 of reselling. In year one, I acquired a lot of inventory. I maintain a high average sales price, but I am moving inventory too slow on Poshmark US and Canada. Luckily, Facebook Marketplace has resulted in hundreds of additional local sales for those lower value goods. Essentially, I was being paid slowly but well, however funneling too much of my money into more and more inventory-- specifically trying to catch those higher value goods-- which I believe you term inventory rich, cash poor lol So, I'll be joining the group to work on this in 2024, cannot wait!
Great takeaways I love it. Drop an introduction post when you get in the group so I can send you some helpful links!
Can't wait to see you over in the group! Glad this was valuable!
This is great!! Thank you for sharing all your knowledge and experience. I like what you said that reselling is not a get rich quick kind of business and that it is hard work. Reaching goals can take time and patience is, key. I believe that anything is possible, if you focus and learn. I think some people can be great at selling but it's another to be good at saving or managing their income/money. We also have to learn to live within our means until we reached our end goal. Any excess money we make should be save as buffer in case of some days or months that we don't reach out goal. I know this is another topic, but I believe it goes hand in hand. Have a blessed weekend. =)
Great take away! I agree, thank you so much for listening to the podcast!
Thanks so much!!
My pleasure! Thank you for checking out the video!
This and the last video have to be one of the best ones I've watched and really hit home, thanks for the honesty Isaiah with being so open, I loved the conversation between you two! Would really love the update.
I'll definitely get Isaiah on the line for an update
That's the plan! So glad it was valuable!
This is so inspiring
Isaiah is the best! Always impresses me
Too good!!!!!!
Thank y’all so much!!!!!
Thank you for checking out the video Terrie!
Looking forward to finishing this podcast later. Isaiah is a smart young man. I'm sure he's going to get things figured out. Besides, he does have a pretty good mentor 😊. Free shipping & promoting too high is hurting a lot of sellers.
Yes, he's paying all his bills, supporting his family. Just trying to get over that bump to really blow it up
You are amazing! Thanks for all your support on the YT side as well! You've helped me so much as I've been building the channel! I couldn't thank you enough!
Oh my gosh another brilliant TH-cam. You two guys are so humble and beautiful beings.
I've been offering free shipping, free returns and 1 day handing to get top rated seller plus. Too soon to see if its made a difference. In some items there is huge profit, but some items I was happy to get a return on my cost plus a little more, cause I had it some time. I have listened to too much advice on TH-cam, some say just £10 profit, list 10. That does not work for me,
1, cause I can find items with more profit and
2 I take so much care in wrapping my items, it doesn't make sense. I don't want to stop making my items not wrapped lovely so that's something I won't compromise on.
Every time I watch you Tech I learn and learn more to what I can say I have a buisness going the right way, I have finally tuned it learning from you.
My objective is I have to make more money to kerp being a reseller which means more listings. Some days I list 15 some I list 2 some I list eight. I list every day, but it's all to do with time. Some days I'm steaming clothes, mending, sourcing and being a single mum. My items I'm sourcing now have an average of £20+. Some I can get £40 -£80.
I just need more energy, I work from home so I'm lucky that way.
My goal is to have a 500 store by July. But I honestly don't think I could list 10 a day 7 days a week. I model a lot of clothing on maniquin to really showcase the item to its fullest potential which takes time. I only do this with items with £20 or more profit, the rest or flat. But the new stock I'm buying is 20+ so the listing takes longer.
Off to an awesome start! Great work!
Seems like this podcast was perfect timing to setup our years plans and goals in a realistic👍🏾
Let's get it max!
For sure brother! Greatly appreciate you Max! You're always a pleasure!
Total 🔥🔥🔥 great
Appreciate you checking out the video Marky
I always liked Isaiah! Good video.
He's the best!
I’m up at 1 am learning to run my business and when you said get the money it’s all green that’s is a Bar! My wife makes T shirts and that will be one of them! I’m not afraid to travel to get better items I just got back from Jacksonville goodwills and I paid $50 for about 15 items but 1 pair of Frye boots pays for it! This is the knowledge we all need! My biggest concern is I struggle with getting 10-15 items up daily! 20 items would take me 1/2 a day but if that’s what it takes then I’m good with that, I have the inventory
Where are you going to send my royalty?
@@technsports I got u yes lord I was telling this new reseller about the group. She says she’s struggling so she maybe interested
I think this video helped me finally "get it." I've been trying to scale into profitability and the results have been meh. Thanks Tech for you and Isiah explaining this.
I have been talking about that for a while Brian, cannot scale to profitability. Watch the Techonomics podcast I have here on the channel. It'll be helpful. I've only ever put $35 into my business, the customers have paid for everything else. Hope you're doing well over there Brian.
@technsports I will check it out. For some reason it clicked this time. I'm doing all right and am now spending more time sourcing to find those better items vs buying anything profitable.
@@TexasTreasures that process works
Shoes are hard. I specialized in vintage shoes/boots for many years, until the post office started drastically raising shipping cost. I still sell some shoes/boots, but I need to make a lot off of them. I look for lightweight items now.
They recently changed to cubic rate shipping last week, perhaps that will help the margins!
For the AVERAGE seller, this is the most helpful video I have seen. Isiah and I have the same problems even though he sells shoes and I sell glassware. Your advice makes sense for every type of profit. Please give us brief updates on his progress. I am entering an imaginary race with Isiah. Slow and steady..,
Gram from Illinois
Very glad the conversation is helpful. Isaiah is the best
In my 24 I was still living with my parents 😅 good job Isaiah 👍
For real right! 24, taking care of a wife and baby. Major props.
11:54 others are having this same issue i told them its because of Promoted Listings we are all probably paying much more in promoted listing this past year then we did in 2022 and most likely we will be paying more in 2024 then we did in 2023 this is ebays game it started in 2019 or slightly before that with PL they want to see how much they can squeeze from the seller so only logical thing to do is if we have to pay more in PL we have to up the prices of our items to counter the UP in % of PL when it all comes down to it its just a numbers thing
I talked about this a few weeks back on the podcast titled Promoted Listings Problem
Read Books that's always great , that's How I started .. I went to the Library and got 20 books out on Business , and Skimmed through what I was interested in learning . And Learned essentially What everyone on TH-camrs have come to terms with after Years and Years of what they have learned reselling ....
Always look to seek the knowledge
The lower the margin, the higher the STR needs to be. I won't buy an item that sells for less than $25 unless the 90 day STR is greater than 100% and is easy to list/ship. That's basically free money. $50 items have to be greater than 50% 90 day STR. $75 and up items STR isn't the major determining factor - it goes into a more complex decision tree that considers size, shipping complexity, market, etc.
Great content and conversation. Thanks so much for posting this! You've got a new subscriber.
I'll add that my 6 year historic Average sales price is $35 with a margin of $31.71 per item. Clothing/shoes are my biggest categories. When I applied the type of sourcing rules above since July my ASP is now $52.72 and my margin is $46.72 per item. Now that I've adjusted my ASP and margin, I'm working on increasing my items sold per week to 40+. Also, this is a part time job for me that I mainly do on my breaks/lunch at my day job and a couple hours on the weekend. Being efficient, increasing margin, sourcing smarter all work.
Great metrics. Thank you for checking out the video, check out the others, lots of good info in all. Appreciate you!
Good to know to charge for shipping! I was thinking of free shipping to increase sales. Great info.
It's not a blanket statement, it depends on category, the market, etc
You can make money doing free shipping. Depends a lot on Niche and how easily you can bake the shipping into the price of your item. Might be a great strategy for moving older inventory if your margins allow it. Just have to be careful! Glad it was useful!
Fabulous content. Would love a follow up in a month to see the progress! Thanks for your time. Well worth mine…
I would like to check back in with Isaiah as well!
Nicd job guys👍🏻
Thanks Chris D! Hope it was helpful!
Tech, love your videos. Your very methodical and mathematical approach speaks to me. Honestly, do you think you could source quality items here in detroit? Its cold as hell and not very many flea markets are open.
Yeah why not? I'll be there eventually and find some items
I think part of the issue is when the store owner needs the cash right now the temptation to price too low becomes a habit. I know how hard this is…
100% I been there and done that as well. Isaiah is doing great, he's trying to get over that hump of paying bills to having some extra
Enjoyed it .. Isaiah is young. But a winner, eventually he will prevail, times on his side . its good to go through pain in your younger years to make you stronger . But I agree that profit margin a little to small for my liking aswell he putting in to much work cleaning those tingz . Eventually he will prevail, dudes way ahead of the curve, smart dude.
He'll get it no doubt!
"it don't matter.... it's all green"
Lol all of it
dude, I'm in the same spot. Profit is at the same level as my living expenses. I also need to scale up but I have to tread lightly because of cashflow and bills. I quit my job a year ago and its been hard. But things are improving slowly, I source 3-4 days a week at my local GW bins. Average cost per item is around 0.90 cents.
A lot of people are in this position
One thing I thought about recently…if I’m looking at terapeak or solds and i see tons of these jackets selling for 25, I used to think ok, price these at 25 or below. But if I started looking at those sold listings, the items weren’t listed at 25, they were listed higher. So maybe that’s where myself and others cut themselves short like you’re saying. My store str is way over 100% but I need to make more dollars profit at the end of the day to support the fam.
We all have to find that balance of profitability and the hamster wheel
I couldn't say it better than Tech, I'm glad it was a valuable conversation!
"Last week a guy had on a Carhartt jacket and I brought it off his back."
-Tech.
That alone was inspiring for me as a small ebay seller.
Check the video! It's right before this one!
Gold!!!
Thank you for checking out the podcast!
The best way to increase sell through is to source better items
And price & list them correctly. Better items priced too high will still struggle to sell
Since this man appeared and i listen to his techniques i literally see his face watching me at the store and telling me that’s trash don’t get it!!!😂😂😂
Sorry about that! 🤣
@@technsports you are so humble and amazing!!!
Isaiah hustling backwards. But I wish him the best getting over the hump
finding ways to gain more profit
He's earning a full time living and providing for his wife & daughter. Bills are paid, expenses are met. I wish I was that together at his age. He'll get it no doubt!
adding shipping , absolutely ! One Free shipping item to anything beyond zone 4 can seriously hurt your net profit for the day. If your going to play in the game of boxes , shipping supplies and items over 2 or 3 lbs, you can be assured Ebay will find the buyer outside of zone 4. I have experimented with calculated with the buyer discounted shipping option at cost , plus 2 dollars. The jury is still out but most buyers want to see a flat rate , i dont think they understand this is a discount and i dont think Ebay does a good job at finding buyers within zone 4, they have no incentive to do so when shipping is included in the final value fee.
Best offer and free shipping is very tough to do when you get chopped twice
The faster you push the sell through rate, the more you have to spend on sourcing, photograph, listing, etc. think quality vs quantity.
Yes we have to find the balance