6 Powerful Lessons I’ve Learned from Full-Time Resellers
I went out hustling with 18 resellers. We went to Goodwill and Savers, and I learned so much during this experience. Now I’m going to share my learning experiences with you to help you in your business.
#1: Riches Are in the Niches
What does that mean? The more you know, the more you can grow. The more knowledgeable you are with various categories—whether it’s shoes, men’s clothing, women’s clothing, electronics, cameras, books—the more you can grow. And there are plenty of opportunities out there to gain more knowledge.
I saw individuals go after things I would never even imagine going after. One thing, for example, is women’s clothing. I just don’t mess with women’s clothing. But one of the thrifters had found some True Religion jeans and a pair of Dansko women’s shoes. I mean, she was just killing it. There are also people out there popping on blenders, electronic items, and items I typically don’t mess with on a regular basis.
So don’t be complaining and beating yourself up: “Oh, the prices are too high. There’s too much competition.” It’s all in your head. We went out with 18 people, and everybody found profitable items. And it wasn’t just like one item here, one item there. Most people made enough to say to themselves, “Wow, I went out and made a day’s pay.”
So stop complaining. Yes, I get it; prices are going higher. I’m not trying to make you feel bad. But talk is cheap, and talking ain’t making you money; talking is actually just wasting your time. The money’s out there. Stop complaining, learn about all the various categories, and you’ll find plenty of opportunities.
#2: The Money Is in the Fresh Inventory
At Goodwill, when those blue bins come out, you’d better rush the mountaintop. You’d better get over there because the money is in those bins. I have shared before about a mistake I had been making was when the bins come out. Don’t just dive into a single bin; give all the bins a quick look-over. If three bins come out at the same time, scan one, two, and three, and then decide which one you are going to dig into first.
Don’t let the low-hanging fruit just sit there because you’ll have someone like my boy who came up and popped on a hundred-dollar Monopoly game when I was making my mistake focusing on one. The money is in fresh inventory. It’s all about the race to the bins. When those bins come out, you stop what you’re doing and get over there because fresh inventory equals money.
#3: A Positive Mindset Will Help You Find the Deals
If you’re complaining about prices being so high, if you are angry at YouTubers and Facebook groups for spreading knowledge, just stop your complaining. The people who are succeeding in this game right now are drying off their eyes, they’re pushing aside their little box of tissues, and they’re going out there and working hard. They’re using the tools that are available and are doing the best they can. They’re learning. They’e preparing. They’re studying the sold listings. They’re experimenting. They’re growing. And they’re finding items.
I noticed this just from the thrifting outing with the 18 resellers. I’d say probably 90 percent of them did much better than the other 10 percent. That 90 percent were really happy and grateful and had an awesome mindset. The positive mindset is so key. I can’t say it enough; you’ve got to be expecting success. Even though the thrift store might be a mess, and the prices might be high, and you might see some competitors there, expect yourself to be successful; expect yourself to find a deal.
That little shift is going to help you to find items. If you’re all pouty and so angry with the market and how things are going, you’re not going to, for example, look at all the books because you’ve been telling yourself that there’s not enough. Whereas someone who believes in abundance is going to look at that extra book, they’re going to dig a little deeper, and they’re going to find that deal.
#4: There’s a Lot of Value in Deep Digging
Pull out your shovel and start digging. Go deep into the shelf. If the DVD section has a little drawer that opens up underneath, then open it up and go digging down there. See what you’re going to find. Dig deep. Go through the clothing racks; go through the entire blazer section. Move things around. Dig deep.
The money is out there, but sometimes it’s hidden. Sometimes even resellers will hide stuff in different aisles or different sections. You might find a brand-new Monopoly game in the mug section or something. Why is that there? Who knows? Maybe an employee dropped it off there while moving something else and forgot about it. Maybe a customer was going to buy it but then decided not to. It doesn’t matter why. The point is that you have to dig deep, and doing that will definitely make you money.
#5: The More Locations, the Better
The more locations you go to, the better chance you have of making money. I know it’s common sense, but I’ve found myself being lazy and just sticking to a few thrift stores within a couple-mile radius. Sometimes you have got to travel. Sometimes you need to go 15 miles out to get to some places you’re not typically used to going.
Don’t stick with the same three thrift stores you are used to going to. Think of all the fresh inventory you are missing in only three or four thrift stores you’ve never stepped foot in.
#6: Sometimes You Just Get Lucky
Sometimes you just get lucky, and it’s all about timing. For example, at the outing with all the resellers, I ran into a reseller I know and see a lot at the thrift stores I go to. He’d just found a $70 book. He ended up hanging out with our gang. I found a $130 book, and he also found a $130 book. At this next place, I found a $50 book. I could tell that they had just put all the new books on the shelf and it was just luck. It was luck that we just got there at the right time and both found items.
That’s why you’ve got to frequent thrift stores on a regular basis. A couple of months ago, my mother had a little journal, and she would write down what day she would go to the thrift store and what time, and then she would note if she found anything. We were essentially trying to discover the patterns of the best times to go, and I think we came to the conclusion that you just don’t know—a lot of times it’s just luck.
Get Out of the Poverty Mindset and Get Out There
I see so many people have such a poverty mindset. Get out of that. You’re killing your money; you’re killing your profits. I want you to succeed, so get out of your own way. Have a positive mindset. The market’s going to what the market’s going to do. If you don’t like the business, if you don’t like the prices going up, if you don’t like the competition, get into private label, get into wholesale, get into Shopify, or get into drop-shipping. Do something different. You’re never going to win a fight with the market, I can promise you that.
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