The Reseller Entrepreneur

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In todays episode I talk with Faith and Paul from Reseller Genie.  A very good tool to help track your sales and give you insights into your business. Sorry for the late episode, scheduling conflicts, but worth the wait.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctradingReseller Genie - Reseller Genie is an Excel template for tracking your numbers.  It also has a real user friendly dashboard.  Go to https://www.myresellergenie.com/?aff=9  and use the code OLDFASHIONEDMIKE to get a 15% discount off of your purchase.
In todays episode I talk about the new year and what we need to do to prepare for taxes, moving old inventory and other actions to complete now before the year gets away from us.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctradingReseller Genie - Reseller Genie is an Excel template for tracking your numbers.  It also has a real user friendly dashboard.  Go to https://www.myresellergenie.com/?aff=9  and use the code OLDFASHIONEDMIKE to get a 15% discount off of your purchase.
In todays episode I talk about end of year actions, update on how my experiment is going and I reveal my store name!I am still using a NEW podcasting software that I have not quite mastered but I am getting a little better at it.  I miss my Mac already.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctradingReseller Genie - Reseller Genie is an Excel template for tracking your numbers.  It also has a real user friendly dashboard.  Go to https://www.myresellergenie.com/?aff=9  and use the code OLDFASHIONEDMIKE to get a 15% discount off of your purchase.
In todays episode I talk about a realization I came to over the past few weeks.  My business is consuming too much of my time.  I need to make changes in my business to automate things without losing sales.I talk about the actions I am taking in the episode to do that.I am using a NEW podcasting software that I have not quite mastered so the ending of the episode is pretty abrupt, forgive me!Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctradingReseller Genie - Reseller Genie is an Excel template for tracking your numbers.  It also has a real user friendly dashboard.  Go to https://www.myresellergenie.com/?aff=9  and use the code OLDFASHIONEDMIKE to get a 15% discount off of your purchase.
In todays episode I talk about technology in your reselling business.   We go through everything you can think about...well technically everything I can think about and I tell you what I am doing.We are heavily involved in the Christmas season and therefore probably not ready to make any big changes in the business...but that doesn't stop me!Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctradingReseller Genie - Reseller Genie is an Excel template for tracking your numbers.  It also has a real user friendly dashboard.  Go to https://www.myresellergenie.com/?aff=9  and use the code OLDFASHIONEDMIKE to get a 15% discount off of your purchase.
In todays episode I talk about Q4 and what I do to increase sales.  It is a bit of a last minute episode due to the massive November that I had where I learned a few things that you can use in your business.Additionally I make some announcements about what I am doing that can hopefully help you in the future.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
In this episode I answer questions from the audience about burning questions.  I also backtrack on some advice I gave earlier...you'll have to find it in the episode.ALSO - I will be releasing the next episode late, the week after Thanksgiving, as I record these a week in advance and therefore I'll be out of the studio for a few days.  Don't despair, a new episode will drop that week, but it may be on Friday.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
In this episode talk about building your business process.  No matter how excruciating it is, it is a necessary part of your business.I then go through each step in my process as an example and explain each detail and give reasons why you need to do the same for your business.Lastly, I go through some audience questions and of course ask for more to come in.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
In this episode we append the Farmer vs. Hunter debate and I go over WHEN you should be a Hunter and WHEN you should be a Farmer.I give a shout out to the Pure Hustle Podcast (listen to them, good content) as an example of what it is like to be a Hunter and of course THIS podcast for a good example of being a Farmer (a little self promo doesn't hurt)I go through some audience questions and of course ask for more to come in.Please take advantage of the discounts with our sponsors.List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
I see a lot of resellers sell a lot of items but yet can't seem to make money at reselling for the simple reason is they don't understand their margins.Not all platforms are created equal.  In this episode I go through the platforms I sell on and what some of the pitfalls are that eat into your margin.   I also disclose the margins I am getting on eBay, Poshmark, Mercari and Grailed.This is a good followup to several episodes.   Don't miss it.
In this episode I talk about keeping your dead pile at arms length by fully understanding and documenting your processes and ultimately using this as an "employee manual" you use to hire and train people to do those things that you don't like to do and make your business grow.We also go through a few listener questions on: business organization,  free shipping and when you should convert your listings into an auction.This podcast is sponsored by List Perfectly, Hammoq.com and Salehoo.com.  List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register.Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
In this episode I cover how to price your items, organize your pricing strategy and discuss how it is better (in my opinion) to be a Farmer vs. a Hunter.In the second half of the episode we go over listener questions.This podcast is sponsored by List Perfectly, Hammoq.com and Salehoo.com. List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants: $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register. Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
I recently met with a group of new resellers to talk about my reselling experience.  During this meeting one of the participants asked me how much money do you need to start with as a reseller.  Of course my answer was "It depends".Join me for what happened next!This podcast is sponsored by List Perfectly, Hammoq.com and Salehoo.com.  List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322 Hammoq Virtual Assistants:  $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register. Salehoo Directory of Wholesale Products:   https://www.salehoo.com/?aff=mhctrading 
In this episode we speak with Chris Lin, known for his YouTube channel "Daily Refinement".We speak about his background, what brought him to reselling as a profession and what it takes to be successful in the reselling business.His approach is unique, focusing on building systems in your business (sound familiar?).Join me in this really insightful interview. This podcast is sponsored by List Perfectly, Hammoq.com and Salehoo.com. List Perfectly Cross Listing Software- Enjoy 30% off of your first month using our referral code https://listperfectly.com/?ref=322Hammoq Virtual Assistants: $50 Credit off your first order using our referral link https://hammoqpartners.my.stacker.app/register. Salehoo Directory of Wholesale Products: https://www.salehoo.com/?aff=mhctrading
The best way to be successful in your reselling business is to have a steady source of new products to list in your store. In this episode I go over various sourcing methods no matter where you are and how you can create a regular inflow of products.I also cover how you can get products to come to you, which is important as you grow.  Time is money and thrifting is a great start but cannot sustain the level of growth needed to meet your financial goals.This is a stream of conscious episode that covers a variety of methods and shouldn't be missed if inventory is a problem in your business.
In this episode I talk about the numbers you need to know when you run your reselling business.  I also talk about tools to make this easier.Sell Through RateAverage sales priceGross MarginCOGSFeesNet MarginExpensesRentInsuranceUtilitiesSuppliesFixturesLaborReturnsMileageAccounting SoftwareWeb
In this episode I connect with the Rockstar Flipper, reselling veteran and Youtube star.  We go over a lot of ground about his business and what he did to get where he is today.We talk about how he got into the business, where he started (products) and where he is today.We go over employment issues, new advice for resellers, where he is going with his business and some of the training and products he offers new resellers.Rockstar Flipper's training: https://sowl.co/bnh1qMRockstar Flipper's training: https://rockstarflipperonline.com/ Follow Rockstar Flipper:Facebook.com/rockstarflipperInstagram.com/rockstarflipperTwitter.com/rockstarflipper https://www.youtube.com/rockstarflipper
This episode goes  in a bit of detail how to improve your sales through the use of a sales funnel.  Many use the funnel in affiliate marketing but I've adapted it for resellers.This is an advanced concept and shouldn't be attempted until you are doing things right in your business already as you will find increasing sales may have downstream affects that are unanticipated.Not to worry, we'll go through how to implement this and other ideas in your store.
Part of your success when you grow your business is understanding when it is time to hire help and what form of help you need.In this episode we talk with Sid Lunawat from Hammoq about hiring a Virtual Assistant.To do this, however, you need to first understand your processes:BuyingPreppingPhotographingListingStoringPickingPackingShippingCustomer ServiceDecide what parts of the process YOU need to perform and what parts you can hire someone else to do.  This is a great interview, don't miss it.If you want a $50 free account credit, you can use this link to claim it:https://hammoqpartners.my.stacker.app/register
Last week we talked about discovering your WHY in order to motivate you on this journey.  If you need a refresher, it’s a great introduction, I encourage you to listen to it.Today’s episode is going to help you answer the question about how to choose products for your reselling business.Questions that we talk about in this episode.What are you passionate about?Where are you in your life?  What products are easily available to you?Where are you located?Do you know people?How good are you on searching for items online?Do you have space?Specialization vs. GeneralistQuestions associated to where you sell:Sell through rate - How fast does your product sellMarketplaces/Channels - It’s about eyeballsAmazoneBayMercariPoshmarkGrailedOthersMaking Shopify part of the mixWhy it's good to have multiple streams of incomeWhy it’s bad to have multiple streams of income
Welcome to our inaugural episode.  Today we will will talk about understanding your WHY.  Why do you want to stop working for others and enter the reselling game?Understanding your WHY will drive you be the fuel you need to press on in the face of all the trials and tribulations of reselling, being a pandemic or just a slow time of year.I am Old Fashioned Mike, online retailer and designer focusing on a variety of distribution channels to move product.I got into reselling by mistake; I was looking for something I could do part-time while building a software company and like many I searched YouTube to look for ideas.  Suddenly I was confronted with hundreds of videos about reselling old textbooks on Amazon.  Seemed easy enough so I signed up for an Amazon Seller account...epic fail!  More on this in later days.Undeterred, I stumbled upon a new set of videos covering buying/selling on eBay and other platforms.  I was hooked and I'm still here today in my own warehouse, with a team of Virtual Assistants listing every day.But this doesn't answer my WHY.  You'll have to tune into the show for that answer but I assure you it's worth the listen.But this show isn't about me, it's about YOU!In future episodes, we'll talk about taking your reselling hobby to a business, because that is what it is...a BUSINESS.The way this is set up, the Podcast is focused on STRATEGY, listen to it while you work, while you drive, or when you are sourcing for new inventory.  You don't need to take notes, it won't normally be instructional.  We'll have interviews with prominent resellers as well who will give their perspective on how to run a reselling business.The blog (Show Notes) will provide you with a supplemental materials, show wrap up and RESOURCES that you may want to use in running your business.Lastly we are starting a YouTube channel to show HANDS ON TRAINING and EXAMPLES of what we do to grow our reselling business.  Something that you can take notes on and refer back to at any time.Thank you for getting this far, see you in the next episode.
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Podcast Details

Created by
Old Fashioned Mike
Podcast Status
Active
Started
Aug 21st, 2020
Latest Episode
Jan 16th, 2021
Release Period
Weekly
Episodes
21
Avg. Episode Length
33 minutes
Explicit
No
Order
Episodic
Language
English

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