Got here a few days late but very nice talking points. I think one thing I would tell new sellers is to be quick to see and admit mistakes you make and be ready to pivot on a dime because markets change and you have to or you will go out of business fast.
I have a full-time job that is heavily dependent on commissions. Lately I haven't been making enough with my job to meet my bills. Reselling is filling the gap right now. It's amazing what you can do when you're forced too.
It is extremely difficult to be a full time reseller when you are working on it solo. My wife is a stay at home mom and doesnt have the time to assist me. Time is my biggest enemy. There's just not enough time in a 40 hour work week to prosper. To be successful at reselling I think you need a spouse that has a full-time job with benefits and then that takes all the pressure off of you when eBay decides to not bless you with sales in a particular week or month.
I ama solo seller. You cannot rely on EBay for a living. New auto lists on Amazon or another platform simple. Full retail vs disconnect retail. Use the amazon FBA program as your shipping employee and run. I m having a record year
Big swings for me on sales day to day. UP and Down, down down, then up. On the slower days, I ramp up my organization and clean up my work area. It really helps to keep me motivated and ready to rock listings and all that goes with it. Love the show guys, thanks!
Newbies need to learn how to build a P&L (profit & loss) weekly/monthly statement. Money comes in, money goes out. There are four questions that you must learn and have answers for BEFORE you decide to become a seller. WHEN, WHERE, WHY, and HOW. It all comes down to money, Ask those four questions to get the money you need to EXIST at a minimum level, before you even think of becoming a Beard, FAE, Or Josh. AND educate yourself on old school ledgers, IE balance sheets, expense sheets, basic Business 101.
This my opinion--no one has to listen to me: full-time re-selling is for 1) someone whose spouse earns a 9-5 income with benefits and makes enough to pay the bills, or 2) someone who has a really low cost-of-living. If it only costs you $40,000 a year to live, you can quit your teaching job and re-sell. The re-selling dream of having employees and a warehouse and making passive income is so far-fetched that I'd actually spend time arguing with a friend who wanted to go down that road. Unless you have an "in" with a supplier and a formal, legally-enforceable contract, there is no possible scenario where I can see that plan working. Another thing: the gurus telling you they're going to scale by buying bulk lots of remote controls are pure grifters trying to earn a social media income by posting kindergarten-level content. They're looking for people who'll pay for a $365/year subscription to learn how to mail a package or take a picture.
Totally possible to be very successful on ebay right now. As you guys touched on, it's a business, treat it as a business. Selling garbage you buy in bulk that no one wants? That's not ebay's fault it doesn't sell. This is basic business 101 stuff and if you are not offering what's in demand you will fail. If you don't have a business on how you intend to run your business, you will likely fail. If you are running your business on your feelings, you will fail. Anyone blaming the platform, economy, administration or anything else besides themselves for not succeeding will continue to fail, not just as a reseller but in everything else in their life where you bring that scapegoat mentality. Stop placing blame and thinking you can't do this or that. Change your mindset to a 'how can I do this or that?' instead. Invest in yourself and your knowledge base.
It’s all widgets. I do not care if I like it or the history of it. How fast will it sell at what price and how many can I buy. All of them. Great ho much. Cut a deal and move on. No death pile wasted $$$ and roi on those $$$$. Volisity on the movement of $$$ is how to win
Josh asked his really great questions
Got here a few days late but very nice talking points. I think one thing I would tell new sellers is to be quick to see and admit mistakes you make and be ready to pivot on a dime because markets change and you have to or you will go out of business fast.
I have a full-time job that is heavily dependent on commissions. Lately I haven't been making enough with my job to meet my bills. Reselling is filling the gap right now. It's amazing what you can do when you're forced too.
It is extremely difficult to be a full time reseller when you are working on it solo. My wife is a stay at home mom and doesnt have the time to assist me. Time is my biggest enemy. There's just not enough time in a 40 hour work week to prosper.
To be successful at reselling I think you need a spouse that has a full-time job with benefits and then that takes all the pressure off of you when eBay decides to not bless you with sales in a particular week or month.
I am with you - I support a family of 9 solely from ebay and the stress is crazy. Keep your head up and keep grinding! ✊
@@ER-pc3dxnice. How many hours a week do you spend on eBay?
I ama solo seller. You cannot rely on EBay for a living. New auto lists on Amazon or another platform simple. Full retail vs disconnect retail. Use the amazon FBA program as your shipping employee and run. I m having a record year
Big swings for me on sales day to day. UP and Down, down down, then up. On the slower days, I ramp up my organization and clean up my work area. It really helps to keep me motivated and ready to rock listings and all that goes with it. Love the show guys, thanks!
You convinced me! I will not quit a full time job to become a full time reseller!
@@silverhairstacker8664 wow that was easy. Too easy
Love the podcast guys. I always finish feeling like I learned something and it definitely wasn't a waste of my time.
Newbies need to learn how to build a P&L (profit & loss) weekly/monthly statement. Money comes in, money goes out. There are four questions that you must learn and have answers for BEFORE you decide to become a seller. WHEN, WHERE, WHY, and HOW. It all comes down to money, Ask those four questions to get the money you need to EXIST at a minimum level, before you even think of becoming a Beard, FAE, Or Josh. AND educate yourself on old school ledgers, IE balance sheets, expense sheets, basic Business 101.
This my opinion--no one has to listen to me: full-time re-selling is for 1) someone whose spouse earns a 9-5 income with benefits and makes enough to pay the bills, or 2) someone who has a really low cost-of-living. If it only costs you $40,000 a year to live, you can quit your teaching job and re-sell. The re-selling dream of having employees and a warehouse and making passive income is so far-fetched that I'd actually spend time arguing with a friend who wanted to go down that road. Unless you have an "in" with a supplier and a formal, legally-enforceable contract, there is no possible scenario where I can see that plan working. Another thing: the gurus telling you they're going to scale by buying bulk lots of remote controls are pure grifters trying to earn a social media income by posting kindergarten-level content. They're looking for people who'll pay for a $365/year subscription to learn how to mail a package or take a picture.
Ive got a seasonal job. Ill get laid off in November and go nuts for q4.
I was told I could put “you’re wrong” in the comments… and we’re just following instructions. Haha, J/K 🎉🎉🎉 great show guys, thanks!
Totally possible to be very successful on ebay right now. As you guys touched on, it's a business, treat it as a business. Selling garbage you buy in bulk that no one wants? That's not ebay's fault it doesn't sell.
This is basic business 101 stuff and if you are not offering what's in demand you will fail. If you don't have a business on how you intend to run your business, you will likely fail. If you are running your business on your feelings, you will fail. Anyone blaming the platform, economy, administration or anything else besides themselves for not succeeding will continue to fail, not just as a reseller but in everything else in their life where you bring that scapegoat mentality.
Stop placing blame and thinking you can't do this or that. Change your mindset to a 'how can I do this or that?' instead. Invest in yourself and your knowledge base.
I forgot to add that this is not ebay or reseller specific. This applies to every business.
It’s all widgets. I do not care if I like it or the history of it. How fast will it sell at what price and how many can I buy. All of them. Great ho much. Cut a deal and move on. No death pile wasted $$$ and roi on those $$$$. Volisity on the movement of $$$ is how to win