Fix Your eBay Reselling Strategy with Private Label Principles

0:00All right, guys. So, I have been super

0:01busy throughout the whole week and uh I

0:04had a couple of doctor's appointments

0:05and that's why the uh schedule is like

0:07all kind of messed up. I look like hell

0:10right now, you know, with what I'm

0:11wearing. And uh I had to readjust the

0:14microphone because I said that I would

0:15do this shop class Sunday. It is

0:17currently Saturday night right now. I

0:19have nothing pre-recorded, but I said

0:21that I would bang this out for you guys.

0:23And I feel as if this one is very, very

0:25important. Okay, so you guys ready? then

0:28let's do it right

0:33now. Hey, what's going on loungers?

0:35Welcome back to the channel. If you're

0:36new here, my name is Mason T and I am a

0:3820 plus year importer and product

0:40developer. So, today we're going to do a

0:42very, very special class where I'm going

0:45to teach you guys as a private labeler

0:48how to do reselling if I was to come

0:50back to it. Essentially, it's kind of

0:52like this. There's a lot of people who

0:53do videos of if I were to start all over

0:57again, what I would do, etc., etc.,

0:59right? But let me just be crystal clear

1:01with you guys. If I were to start my

1:03business all over, I wouldn't be a

1:05reseller because I already have the

1:07knowledge to just go ahead and save up

1:09money and how to start off like white

1:11labeling and private labeling from the

1:14get- go. So, why would I start off with

1:16reselling? Because the thing about

1:18reselling is that if you had to start

1:19over in the sense that like, you know, I

1:22don't know anything about e-commerce.

1:23I've never even tried eBay before. I've

1:25never sold anything online. So, that's

1:27where you need to begin. Now, the

1:29problem with this is that it's kind of

1:31the wild wild west. And a lot of your

1:33gurus who teach you how to do reselling,

1:36there's too much freedom in it. Okay?

1:38And when you think about the best

1:40analogy that I could give you guys is

1:41Star Wars. Okay? Star Wars, you have the

1:44rebels who want freedom and then you

1:45have the empire that brings order. You

1:48need a balance of both, right? You need

1:49some freedom in order to do and chase

1:51the things that you love. But you also

1:53need to bring order so that you have

1:55growth, right? We can't just be the wild

1:57wild west all the time because people

1:59will just be like killing and stealing

2:01and nobody could get any good sleep. So

2:03let me just bring you over to the screen

2:05capture today, right? and to show you

2:07that, you know, generally on this show,

2:09like I have so much technical

2:11information to actually share with you

2:13guys. Right now, I do a lot of critique

2:16videos and I talk a lot of smack. I

2:17totally agree that I absolutely do.

2:20However, if you're able to listen with

2:22an open mind, you'll see that I am

2:25airtight with my logic and I am correct

2:27about a lot of things that I say. So,

2:30the thing is this, right? I know that I

2:33run a channel and therefore if I'm going

2:35to say something publicly, I'm going to

2:38go back and forth in my own head and

2:40reflect it back and forth because for 20

2:42plus years I've been a professional

2:45businessman. I do this by muscle memory.

2:47I don't I don't think about it. I just

2:48do it. So if you ask me to teach it to

2:51you guys, I got to think about it for a

2:53second and be like, "Okay, okay, this is

2:54how it is, right?" So many times I

2:56think, you know, as this channel goes

2:58along, we're going to be doing many it

3:00reiterations of stuff because as I teach

3:03it to you guys, it also makes me sharper

3:05too, right? Because just because I'm

3:06able to do this stuff doesn't mean I'm

3:08instantly able to explain this stuff

3:10very well every single time because I am

3:12not a professional college professor. I

3:14don't have a degree in educating other

3:16people, but I do have a lot of formal

3:19training when it comes to doing higher

3:20levels of business. So, if I was to go

3:23ahead and teach you guys how to do

3:25business as a reseller, right, the video

3:28would be more like

3:29this because I'm a private labeler and

3:32if I had a friend who was a reseller and

3:35they wanted me to look over their

3:37homework for them, then I would take a

3:39look at his business and then here's the

3:40things that I would adjust. Right? So

3:42essentially what we're going to be doing

3:44is that we're going to take all of the

3:46as many of the uh business structures,

3:49strategies, and uh disciplines of higher

3:52level businesses, right? And try to

3:55apply it to reselling to try to help

3:57your reselling business. And that's what

3:59today's class is going to be all about.

4:00So um on the right over here, this is my

4:04business. This is my business structure.

4:06Okay? And then on the left over here,

4:08this is your business structure. Okay?

4:11And then what I did over here is that I

4:13added a a whole bunch of corrections to

4:16it to try to make the business uh less

4:19inefficient, more lean. All right, but

4:21I'm going to say this quite a few times

4:23in this video, okay? That I'm going to

4:26teach you guys how to be a reseller, but

4:28the goal is not to remain a reseller

4:31because ultimately being a reseller is a

4:34very, very, very fatty piece of meat.

4:37Okay, it is inefficient and there's a

4:39lot of options in reselling that is cut

4:41off to you that you need in order for

4:44real growth. And that is my beef with

4:48the whole thought leaders in the

4:50reseller community. Okay, I love people.

4:53I think you're all very good,

4:54hardworking people. I think you're being

4:57lied to by a bunch of gurus, right, who

5:00haven't done higher levels of business.

5:03So the more they talk, the more they

5:05actually expose themselves for really

5:07not knowing much about business at all.

5:10But if you haven't done if you haven't

5:12seen what I've seen and stuff, it's

5:14really hard to bust them. And now I'm

5:17doing a channel where I'm trying my best

5:19to expose things little by little to you

5:22guys, right? So, you know, bear with me

5:24and hopefully eventually, you know, you

5:27take more of my classes and then you'll

5:28start seeing what I'm trying to explain.

5:31Okay? Okay. So there's a lot to go over

5:34and for me you got to understand that

5:36it's also overwhelming for me because

5:38where do I even begin because business

5:40is such a huge topic right? So the best

5:42thing that I could think of is

5:46um either we could start with exactly

5:49explaining what my business is and how

5:52it's going to inspire your business.

5:54Right? Also I want to show you exactly

5:57that there are four main issues when it

6:00comes to reselling. Okay. I think we'll

6:02go over the main issues first. Okay.

6:04When you are just a reseller versus a

6:08private labeler or home self-made goods

6:11or a retail distributor or a white

6:13labeler, you know what I mean? Any of

6:15those other businesses that has

6:17replenishable goods that has ability to

6:19start, you know, creating its own

6:20following and branding, uh, loyalty and

6:23stuff like that, start getting more

6:24traction with their products, etc.,

6:25etc., right? those things all have way

6:28more options at their fingertips as

6:31opposed to what reselling is. Okay, so

6:33let me just go through this with you

6:35guys very quickly because I want to show

6:37you exactly what all the red flags of

6:39reselling is and then I'm going to

6:42explain exactly what my business

6:44structure is and then we're going to fix

6:47these key issues using my business

6:50structure to fix your business

6:51structure. Does that make sense?

6:56Try not to skip ahead because if you do,

6:59very likely stuff is going to go over

7:01your head. If you are not currently a

7:03reseller, most likely some of the stuff

7:05that I'm going to say is going to go

7:06over your head. So, basically, it's

7:08exactly what the title of this uh

7:10episode is going to be, right? Which is

7:12advanced reselling. Reselling is level

7:15one of what e-commerce is. I'm going to

7:18teach you guys how to go to level 1.5,

7:21okay? until you go over to, you know,

7:23actually making stuff yourself or white

7:26labeling stuff or importing stuff or

7:28creating your own things and and things

7:30like that, you're not going to go over

7:31to level two, level three, level four,

7:33level five. You see what I'm saying?

7:35It's going to be 1.5, which is not quite

7:37a full-fledged business, but still

7:39better than just regular reselling. You

7:41guys ready? Let's do this.

7:46So here's the big problem about uh okay

7:50and and they're basically in the level

7:53of the biggest issues to the the the the

7:55the least biggest issues but they're all

7:58huge red flags. All right. So you have

8:00no sourcing structure whatsoever. Right?

8:02Because what do your gurus tell you to

8:04do? They tell you to buy everything.

8:06Otherwise they wouldn't make videos

8:08where it's like a bolo list, right? of

8:10like, hey, these are 30 things that

8:12sell, these are 300 things that sell.

8:14Never walk by these items or whatever,

8:16right? So, when you watch these videos,

8:18it puts you into a FOMO, right? Hey, I

8:20might walk by a gem. So, every single

8:22time you go into whatever store or

8:25whatever, okay, you're going to spend a

8:27lot of time in there because you have to

8:28scan everything. Is this one good? Is

8:30this one good? Is this one good? Is this

8:31a dud? How about this one? Maybe this is

8:33a gem. What do you think? Let me check

8:35my sold comps back and forth. So when

8:37you go into a thrift store, right, until

8:39you get very very seasoned, which you

8:42don't have time for because we need to

8:44make

8:45money, you're going to spend a lot of

8:47time there. So we got to try to reduce

8:49that time with some sourcing structure

8:52added to it, right? So because there's

8:54no sourcing structure, you're told to

8:56sell good items, right? But there's no

8:58clear definition or strategy. When you

9:00ask a lot of these gurus, what what's a

9:02good item? item's a good high velocity

9:05item. Things that sell good, things that

9:06sell fast, right? But that doesn't

9:08enhance your definition of what sells

9:10good, right? So, every sourcing trip is

9:14a gamble because sometimes you find

9:16things and then sometimes you don't and

9:18then maybe you come back with some

9:19shirts, some some jeans, some shoes,

9:22some hats, whatever. It's it's all

9:24random things, you know, and then they

9:26put out all these videos of like these

9:28brands are good and these brands are

9:29good, but you know, when you do these

9:30brands, then not these models are good

9:32and these colors are good and you have

9:34to get it in these sizes and stuff like

9:35that. The the criteria is all over the

9:37place and there's no way that you could

9:39just cram all that knowledge in, you

9:42know, into your fingertips into into the

9:44top of your mind all the time when

9:47you're outsourcing. So, what it happens

9:49is that you're outsourcing on the fly,

9:51right? What is sourcing? You are making

9:54a business decision when you are

9:56sourcing, right? So, how can you go

9:59ahead and make a business decision on

10:02the fly? That's so careless and that's

10:04why the business has so many issues to

10:07begin with. So, we're going to add

10:09sourcing structure to reselling uh

10:12through the principles of private

10:14labeling. Okay. So, the next is no

10:17replenishable item and no leverage

10:19whatsoever. I find this so hysterical

10:21that like your messiahs, your gurus,

10:24your mentors and stuff like that always

10:26tell you stuff, right? That you have to

10:27implement systems, systems that make

10:30your uh business better, etc., etc., all

10:32all this stuff, right? You know, they

10:36they overlook the most important system,

10:39which is the system of automation. If

10:41you have a replenishable item, you're

10:43going to make your listing once and then

10:46you revise it every now and then to try

10:48to tweak it a little bit better, but you

10:50are selling the same thing over and over

10:51again. So that packing becomes muscle

10:54memory. When you take photos, you only

10:55need to do a good set of photos once and

10:58then you sell it over and over again. So

11:00now this listing as it starts selling

11:02better and better and has more

11:03conversion rate. So it starts ranking

11:05higher and higher and then creating more

11:07and more sales. This is automation. That

11:10is a system. And that is one of the most

11:14important systems of selling online in

11:16e-commerce that your mentors and gurus

11:19are not teaching you. They're telling

11:20you to go out and then do a whole bunch

11:22of oneoff items. So all of you guys who

11:24are resellers doing oneoff items, you're

11:27ignoring the main system. So to get out

11:30your, you know, like little loops and

11:32and and your little crosshair uh uh

11:34rulers and stuff like that, so you could

11:36take faster photos, etc., etc., Right?

11:38That doesn't remove any of the touch

11:40points in your business. You still are

11:43involved physically with every single

11:45sale. Right? So, is that what

11:47streamlining is? Streamlining is

11:49changing the system somehow, right? So

11:52that you don't have to be involved in it

11:54in the same way. For example, we used to

11:56walk to the store. Now, we take a car to

11:59the store. So, I'm not physically

12:01covering the same ground the same way as

12:03I did before. But rather than that, when

12:06they tell you, "Hey, over time you're

12:07going to get better at doing listings so

12:09that you do them faster." Right? But

12:11doing things faster is just going from

12:12walking to running, that's still you

12:15covering the same mileage from A to B,

12:17except now you're trading energy for

12:20less time. You see what I'm saying? So

12:23if you're trading one resource for

12:24another resource, that's not reducing

12:27the amount of resourcing so that you get

12:30the same results, which is the actual

12:32definition of what streamlining is. Does

12:35that make sense? Rewind this video if

12:37that was like a little bit too quick,

12:39right? I apologize for that, but there's

12:40so much information to go over. Okay.

12:43So, basically what I'm trying to say,

12:45right, is that the system of automation

12:47of the way you're supposed to be selling

12:49online, you guys are not leveraging that

12:52at all as a reseller. So, this is what I

12:55mean. Reselling is very simplistic, but

12:57because it's very simplistic, a lot of

12:59the options and a lot of the things that

13:01you should be doing are limited to you.

13:04And that's what I'm trying to expose and

13:06open your minds to. Okay? And we're

13:08going to do our best to try to fix that

13:09today. Now the next is no brand identity

13:13means only passive sales. Okay, what

13:15does this mean

13:18essentially? Okay, if you're always

13:20selling other people's brands, Rock

13:22Revival jeans, car hard jackets,

13:23Dickies, etc., right? You're always

13:26selling other people's brands, how can

13:28you advertise those things? You can't,

13:29right? And if you only have one copy of

13:31it, you really can't advertise those

13:33things because you might not even have

13:35it next week. It might sell today. So

13:37what is the point of like doing trying

13:39to drive any external traffic or doing a

13:42Tik Tok or setting up an Instagram? So

13:44essentially what's happening you can

13:46only left with one option and one option

13:49only which is I'm going to go ahead and

13:51put up a listing and passively wait for

13:54sales. So all of your execution, all of

13:57your hard work needs to be put into a

14:00very very good listing because if a

14:02listing doesn't have X amount of views,

14:05it will not convert, right? Because

14:08every item that you put up has a

14:10different conversion rate, right? That's

14:12what the STR is. So let's say your item,

14:16right, is going to sell within 10 views

14:18because it's a highly desirable item,

14:21right? That is the conversion rate for

14:23that item. If your item needs a hundred

14:25views in order to sell, then that's the

14:27conversion rate for that item. But if

14:29you're making a listing, right,

14:31especially the way that resellers are

14:33making listings, which is I come home, I

14:36bring like, you know, 30 40 things and I

14:38just want to hurry up and bang them all

14:40out, right? So, you're not pro you're

14:42probably not making super duper quality

14:45listings, right? And you're probably not

14:47going to be putting a lot of promoted ad

14:50to the back end either because margins

14:52are pretty tight, especially where

14:54you're dealing with clothing or books or

14:56other kinds of physical media because

14:58you know it it's just what the reseller

15:00market is, right? Okay. So, when that

15:03happens, what do you do? You're going to

15:06put up a listing that you just did

15:09weren't able to spend that much time on

15:11because you have so many other listings

15:13to do because you're doing all the

15:14listings one by one. While traditional

15:17businesses, they just have like a 10 or

15:1920, you know, replenishable items. So,

15:21all they do is manipulate a dashboard

15:23and they just have to, you know,

15:25constantly tweak between 20 different

15:27listings making it very manageable of a

15:30business. But they could sell much more

15:33volume than you can. Ex also, you know,

15:36they don't spend that much time doing it

15:38either. So, you know, like I said

15:40before, right, the only thing that

15:42you're left with to do is to make

15:44passive sales. So, when you think about

15:46an item, right, that only has like uh

15:50that that needs about 100 views in order

15:52to convert once. If your listing is set

15:54up in a way where you only get about

15:56like 20 views for the whole month, it's

15:58going to take you five months to sell

16:00this item. And that's probably exactly

16:02what you guys are experiencing. If you

16:04ever have stuff that, let's say, uh,

16:07took three months before it finally

16:09sold, right? and this item was probably

16:12getting 30 views a month on the back

16:15end, then that means when your item

16:17sold, it it averages about like 90 views

16:20before somebody says, "Okay, I want that

16:23item. I'm okay with that price. I'm

16:25going to pull the trigger on it." You

16:26see what I'm saying? Okay, so last one,

16:28number four, right? That there's no exit

16:31strategy for dead inventory, right?

16:35Think about it. No guru specifically

16:38tells you how long you're supposed to

16:39hold on to something before you declare

16:42it dead, right? Like how long are you

16:44supposed to wait? Are you supposed to

16:45wait a year? Because there are other

16:48YouTubers out there who specifically say

16:50things where like, well, I had stuff

16:51that sold like 2 years later, 3 years

16:53later, right? There was somebody who

16:55even had something 10 or 15 years later.

16:57He's he's had inventory longer than

17:00people have been resellers. So exactly

17:03when you think of it in like you know

17:06another analogy right it's like okay how

17:09long does the patient need to stop

17:11breathing before you're going to call

17:12time of death put it that way you know

17:15so for me right if you're not getting

17:18views if something is not happening

17:20within the first two weeks there's a

17:22huge red flag and something's wrong here

17:24but that's me as a private labeler we do

17:26something completely different than you

17:28guys right so let's go over to exactly

17:31what private private labeling is. Okay,

17:33so let me zoom out over here and then

17:35let's talk about my business.

17:39Okay, so here's what I do, right? My

17:44business is very, very simple. Now, you

17:46might think to yourself, okay, a lot of

17:48people push back and they say, you know,

17:50Peg is is his business and this is our

17:52business and there's no right way to do

17:54business, whatever. I'm against all of

17:56that. That is 100% false. If you're

17:58going to follow this channel, I will

17:59tell you that is 100% false. Okay? There

18:02is a right way and a wrong way to do

18:04business. Okay? And it has nothing to do

18:06with your feelings. All you have to do

18:08is compare your last two quarters and

18:10either you're going to get one of three

18:12answers. Either there is growth or you

18:14are failing or there is stagnation. One

18:16or the other. And you tell me what is

18:18right or wrong. Right? Because we want

18:20to establish a business. We want to get

18:22going. We want to grow the business

18:24because that's the difficult thing to

18:25do. If you argue, I don't mind with

18:28stagnation or whatever, then I I don't

18:30know. I I don't think you're really

18:32trying to do a business here. I I I

18:34think you're just doing this as an

18:36adventure for fun, right? That's so So,

18:38you're in a completely different boat.

18:41Anyways, as far as your way to do

18:44business versus my way to do business,

18:46when I explain this to you, okay, you're

18:48going to finally see that this is the

18:50only way to do business. And I say that

18:52with like such a you know what I mean?

18:55It sounds so smug. It sounds so

18:57arrogant, right? But the thing is this,

18:59right? If you are dealt a royal flush,

19:02eventually you're going to go allin

19:04because that's the best hand possible.

19:06Like, how else would you play this hand?

19:08Eventually, you're just going to push

19:09allin if we make it all the way to the

19:11river, right? So, it's the same idea

19:13here. So, when I explain this concept to

19:15you, you're going to see that Peg is

19:18right. There's no other way to play this

19:20hand. So, it's not my way of doing

19:22business. It's the way everybody

19:24properly traditionally does business and

19:27it's always worked. This is the wheel.

19:30Okay. Um, so here's how it works.

19:34Essentially, there's only four parts in

19:36what a traditional business is, right?

19:38There's the USP, theQ, the P proof of

19:40value, and then we scale up and then

19:42ultimately I left out rinse and repeat.

19:45All right. So, what is a USP? A USP is a

19:47unique selling proposition, right? And

19:50in order to achieve a unique selling

19:52proposition, you need a combination of

19:54research and innovation. What you do is

19:56that you start off with a niche, right?

19:58A category. Any category is good. I find

20:01it comical when gurus tell you this

20:04category is good and this category is

20:05good and this category is good and that

20:07actually you know I could suggest a

20:10couple of categories just to get you

20:11started. But to say like one is better

20:13over the other, not necessarily.

20:16Everybody has carved out a lucrative

20:18lane from every single niche out there

20:20and that's why it is available. You know

20:22what I mean? There's somebody who's a

20:23millionaire selling cookies. There's

20:25somebody who's a millionaire selling

20:26doors stops. It it could be anything.

20:29You know what I mean? It's all about if

20:30it's right for you first. So the niche

20:32and the category is not what's

20:33important. It is the research and the

20:35innovation that goes into it based on

20:38something that you are passionate about.

20:39Because if you're not passionate about

20:40it, you won't spend a lot of time

20:42thinking about it. And if you don't

20:43spend a lot of time thinking about it,

20:44you don't want to do the research and

20:46you're not going to be so imaginative to

20:48do the innovation part of it. Does that

20:50make sense? So, as far as a USP, that is

20:53stands for a unique selling proposition.

20:56Okay? If you're not sure exactly what it

20:57is, look it up because that'll make the

20:59class too long. But essentially, what

21:01you need to know is that a unique

21:02selling proposition means that it

21:05doesn't have to be as unique as you

21:07think it does. It just has to be unique

21:09enough so that when you get into this

21:11market, you won't be drowning in

21:13competition, right? For example, if you

21:16were to uh scope out a new town, right?

21:19And then you're saying, "Hey, let's open

21:21up like, you know, a small business

21:23restaurant, okay? And before we do that,

21:25let's do the smart thing and then survey

21:27this town, right? Should we open a

21:28burger joint, a pizzeria, you know,

21:30maybe we should open a, you know, a

21:33small Italian restaurant? I don't know,

21:35a Chinese takeout, whatever, right? And

21:37you want to just look around this town

21:39to see what the competition is of the

21:42burger joints, of the pizzeras, of the

21:44Chinese takeouts, of Mexican tacos, and

21:46stuff like that. And then you could

21:47decide, okay, there's no taco shop out

21:50here, so let's start a taco shop. And

21:52then you're going to be doing very well

21:53because you're selling something unique,

21:55right? Tacos have been around forever,

21:58right? Pizza's been around forever, but

22:00you are unique enough. And that is

22:02what's important, right? Then we're

22:04going to go over to the minimum order

22:06quantity. This is the area of USP toQ

22:10and in between this is called proof of

22:13concept. Meaning that like I have an

22:15idea that I want to do a product, right?

22:18But can I get it produced and can I make

22:21this thing, you know, real, right? And

22:23then see if I could sell this item.

22:25Okay. So the purpose of creating your

22:28item first and then getting a minimum

22:30order quantity is for the sake of mis

22:33risk mitigation right but you still need

22:35a reasonable quantity so that you can

22:38produce meaningful data for me I will

22:41tell you definitively right now right

22:43most of the time my magic number of a

22:45minimum order quantity is 200 pieces

22:48okay whatever new item that I want to do

22:50I'm going to order 200 pieces of it

22:52because in 200 pieces if it sells very

22:55bad like something like two a day, then

22:57how long does it take me to get rid of

22:59it? The math is very easy. It'll take me

23:01100 days to get rid of it. So, I'm

23:03pretty much going to recoup my money in

23:05about 100 days, 3 months, right? If the

23:08item moves faster, like five or six a

23:10day, I have enough inventory to make

23:14sure that okay, this thing is moving

23:16five or six a day for the next two

23:17weeks. So, now I know how to reorder

23:20accordingly. And that is the purpose of

23:22the minimum order quantity. it can't be

23:24too small so that like I have no idea

23:27you know exactly what the daily

23:29sellthrough rate is right I think that's

23:32the very interesting uh distinction

23:34between my business and what a reseller

23:36business is most reseller business talk

23:38about the sellrough rate collectively of

23:41the entire store while uh people who are

23:45doing what I'm doing right private

23:47labelers and white labelers and stuff we

23:49don't have store STRs we just monitor

23:52the convert conversion rate of every

23:54single one of our items. And that is so

23:57much more precise. You know what I mean?

24:00Okay. So, the next thing that we want to

24:03do, right, is try to sell this thing and

24:05then journal like how it's doing. Just

24:07like I said, is it moving two a day? Is

24:08it moving five a day? Is it moving 10 a

24:10day? Because then we have proof of

24:13value, right? Proof of value is very,

24:15very important because this is what

24:16finding the buyer is. You want to make

24:18sure that like not only are we able to

24:20sell this thing, see this is the problem

24:22with STR comps and bolo lists and stuff

24:25like that, right? It is the collective

24:27sales of other sellers who sold this

24:29thing before. You didn't sell this

24:31thing. It's other people who sold it.

24:33There are many times in life where

24:35somebody is able to sell something, but

24:36you're not necessarily able to sell it.

24:38So, you have to prove that you

24:40personally have the demand that you

24:42could have this much of a following,

24:44right? So when I sell something, the

24:46proof of value is what versus the proof

24:48of concept. The proof of concept is that

24:50I could produce this item. I could have

24:52it on hand and I'm able to sell this

24:54item. But the proof of value is whether

24:57or not I sell enough of this item to

25:00justify continuing to sell this item,

25:02continue producing it, reordering it,

25:04and sell this item. So proof of value is

25:06very, very important, right? And this is

25:08the whole like we make our money when we

25:10buy thing, but I'll do that in a

25:12completely different other class. Okay?

25:14So after this, we're what are we going

25:16to do? We're going to scale up because

25:18once I have the desirable outcome,

25:20right, that okay, this thing is moving

25:22five or six every single day and we need

25:24to reorder this item. So now it warrants

25:27me to go ahead and make even better

25:29photos, right? Increase the uh the

25:31listing from like a regular HTML to an

25:33A+ content HTML, right? We're going to,

25:36you know, rework the titles. We're going

25:38to go even harder on the promotion to

25:41try to get this thing all the way to,

25:43you know, uh, w with within the the the

25:45the the top 10 listings, right?

25:48Definitely on the first page organically

25:50as well as promoted traffic and stuff.

25:52So, you're going to scale up. And what

25:54are we doing here? We This is called

25:56success retention. That's what it is,

25:59right? Because once we have this

26:01successful item that we could reorder,

26:03we're trying to prove this whole

26:05concept, right? that like we could

26:07create this item, we could sell this

26:09item, people want this item, and we're

26:11moving X amount of quantities every day

26:13to justify constantly doing this

26:15success, retention. That's what happens

26:17in my business. And we're going to do

26:20our best to try to apply that over to

26:22the reselling business. Okay.

26:28So, let me do my best to give you a

26:31living, breathing example of exactly

26:34what my product is, okay? So that you

26:36could really feel what we're doing over

26:39here. So, my uh item is car floor mats,

26:43okay? But not just any car floor mats.

26:45They're like, you know, trunk liners,

26:47exact size floor mats. You just throw

26:49them in, they perfectly fit and stuff

26:50like that. They're molded. They're

26:52they're uh tailored fit. All right, so

26:54you probably seen them before. Um before

26:57when you know a lot of us third party

26:59people got in and stuff, right? Uh the

27:01main two companies was called Husky with

27:04and they made Husky liners and then the

27:06other one was called Rubber Queen. The

27:07these two companies were the big giants,

27:09right? So if any of you guys are car

27:11guys out there, I think you know what

27:13I'm talking about. So, uh, basically

27:16what's going to happen is that I'm going

27:17to do the most popular cars followed by

27:21not just the most popular cars, but also

27:23the most reliable cars out there, right?

27:26Because why? If a car is very reliable,

27:29then most likely it's going to be in

27:31rotation for longer, right? So, if I

27:34produce an item specifically for that

27:36car and it's still being driven like for

27:38the next 15 years, then I'm probably

27:41going to be able to sell it for at least

27:42the next 10 to 12 years. You see what

27:44I'm saying? So, the thing is that we're

27:47going to do a little bit research on the

27:49whole, you know, what is the top brands

27:52as well as the most reliable brands at

27:54the same time. Okay. And what I ended up

27:57getting was Toyota, Honda, Nissan,

27:58Subaru, Kia, Hyundai. Right? Kia and

28:01Hyundai, not because they're excellent

28:02cars, but because they come with a

28:0410-year warranty. So, I know most likely

28:07anybody who buys this stuff and the

28:09warranty is transferable to the next

28:11owner that they're going to be keeping

28:13this. This is going to be around for at

28:14least the next 10 years, even though

28:16they don't nearly last as long as a

28:18Toyota or Subaru does. But anyways, the

28:21point is, just because I got these six

28:24brands, right, that doesn't necessarily

28:25mean that I know which ones are the

28:28best. So, what do we do in this

28:29situation? Right? So, I'm going to pop

28:31out over here and I'm going to show you

28:32that on Google. I did a real quick

28:34Google of bestselling cars of 2023,

28:36right? So, we could do this for 2023 all

28:39the way back to 2005, as far back as I

28:41want to go and that I deem reasonable

28:44that people still have, you know,

28:45working cars where they really still

28:47want floor mats for it, right? And then

28:49when you look at car and driver over

28:51here, this is the best top 25 selling

28:53cars, right? So, uh, Ford Escape,

28:55Subaru, uh, Mazda CX-5G Wrangler, Subaru

28:58Cross Track, Subaru Outback, Highlander,

29:00etc., etc. Okay, so I am a car guy. This

29:03stuff is in the top of mind all the

29:05time, right? And because I am hyper

29:07niche focused and I'm not doing all

29:10sorts of brands and jeans and shirts and

29:13hats and whatever. I'm just hyperfocused

29:15on cars and car accessories. So, allows

29:18my expertise to be very, you know,

29:20focused in one place, right? So, I'm

29:22always sharp instead of like my memory

29:25is scattered all over the place, right?

29:27Have you ever had a tough time

29:28remembering was it yellow or was it red

29:30that was the best seller? Was it uh

29:33number eight or number nine that was

29:35very good? Was it this M? You know what

29:37I mean? Because your your mind is

29:39scattered because your bolo list is way

29:41too broad, right? So, when you're a

29:43hyper niche focus, you're able to do

29:45this. So, immediately off the top of my

29:47mind, okay, I could tell you that

29:49Toyota, right? Obviously, other than the

29:51Highlander that you just saw, it's going

29:52to be Camry and Corolla, right? When it

29:54comes to Honda, it's going to be Honda

29:56uh Civic and Accord as well as the CRV

29:58that you definitely want to do. Nissan

30:00basically only has two cars, the Ultima

30:02and the Rogue, and the rest you could

30:04just forget about it. Okay? If do the

30:078020 rule when it comes to this because

30:09ultimately at the end of the day, you're

30:11just one person. You can't do

30:12everything, right? And you want to be

30:15able to do the cars that most people

30:17have. So there your top 25 bestselling

30:20cars. It even tells you for that year

30:22how many units are sold. So if you go

30:25ahead and then do this thing, right? And

30:27then look, check this out. If I do this

30:28and I just boom, 2022. Enter like that.

30:31I have the 2022 list over here. I just

30:33keep going back. Keep going back in

30:36time. You know what I mean? And then and

30:38then look, it was the Honda Civic at

30:39this time, the Ford Escape, and the

30:41Nissan Ultima again, and the Subaru

30:42Outback. Subaru, I'll tell you right now

30:44off the top of my head, Cross Trek

30:46Forester Outback. That's it. Done. Yes,

30:49there are a lot of people with Imprezas.

30:51I don't care. I'm not going to do it

30:52because there's not enough people to

30:54really warrant me to bring that in

30:56because I still have all these other

30:58cars that I need to sell, right? So, I

31:00want to keep like a reasonably broad

31:04type of uh c of catalog, but again, I

31:08can't do everything. So, when you talk

31:10about the the the Kia, right? Basically,

31:11I just do Kia Sportage and that's it

31:13because Kia Sportage is the only one

31:15that shows up on these top 25 lists,

31:18right? And then for Hyundai, it is the

31:21uh Tucson and the Elantre that is like

31:24the most popular ones. So, that's it,

31:26right? Just a couple of cars out of

31:28these things. And then I have

31:30replenishable listings. Now, because I

31:32have replenishable listings, right, my

31:35pricing strategy is very aggressive.

31:38Incredibly aggressive. Okay, I'm talking

31:40about like my backend is something like

31:4222% on sponsored ads in the beginning

31:46because time is of the essence, right?

31:48Nobody ever bought back a second of time

31:51and that is very important. It is always

31:53working against you. So if you respect

31:55the idea of opportunity cost, then what

31:57is very important is that we get our

31:58listings all the way to the first page

32:01immediately ASAP so that we could start

32:04developing more and more of that, you

32:06know, um conversion rate, right? Because

32:09here is what I'm trying to leverage.

32:12eBay specifically does not tell you,

32:14right, that like when you have

32:16conversion rate, does it count if it's

32:18an organic conversion or a promoted

32:21conversion? It doesn't matter, right?

32:23So, I don't care what it is. In the

32:25beginning, we're just trying to convert,

32:26sell, sell, sell, sell, sell as best as

32:28we can, right? And then start seeing

32:31that organic traffic start to grow

32:32beyond the promoted traffic. And then I

32:35could start backing off my promoted uh

32:38uh uh fees and stuff like that so I

32:40could get more of my margins back. In

32:41the meantime, I just want my listings to

32:44get positioned very high, right? So,

32:46you're not able to do that as a reseller

32:48and I'm able to do that as a private

32:50labeler. So, that's our huge difference.

32:52So what am I actually doing over here? I

32:54am building curating a catalog parallel

32:58to popular product lines. Right? So in

33:01my case, these are the most popular

33:04brands that are also the most reliable

33:06and I'm creating a product line, a

33:09catalog that reflects the best cars out

33:13there, right? So, you know, whether I

33:16branch out over to seat covers and

33:19steering wheel covers and car covers

33:21and, you know, air fresh like like like

33:23all sorts of other things, right? Which

33:25I actually do. I do all sorts of car

33:27accessories and people are searching for

33:29this stuff all day long. So, I

33:31aggressively boost it. I'm doing just

33:34the 8020 rules of the best cars and

33:36stuff like that. And that's why my

33:38business is successful. Does that make

33:40sense?

33:41[Music]

33:43Okay, so now let's go over to the

33:46reseller part. I know a lot of you

33:48probably wanted to skip over to this,

33:49but honestly, it was very important that

33:52you understand all the issues over here

33:54as well as how my business works. Now,

33:56let's apply to your business. Okay, so

33:58I'm going to throw somebody under the

34:00bus right now and I'm going to just say

34:01it. Okay,

34:04so as a reseller, all right, there's

34:07only four key uh components to

34:10reselling, right? sourcing, processing,

34:12listing, packing, and shipping, right?

34:14You go out and then you source some

34:15stuff, you bring it home, and then

34:16processing would be like cleaning it up,

34:19examining it, holes, dents, you know,

34:21missing buttons, whatever, and then

34:23taking photos and then packing it up and

34:25then putting it into inventory. Then

34:27taking those photos and whatever data to

34:29create listings until it finally sells.

34:31Then you go over to packing and

34:33shipping. Those are the four steps. And

34:35the reason why I wrote every item on

34:36this is because you are physically

34:38involved with every single act of labor

34:42for every single item on this. All

34:44right? As opposed to when I do stuff,

34:48okay, I have I go through the same

34:50thing. I also, you know, source,

34:52process, list, and ship, right? However,

34:54when I source stuff, I just source it

34:56from the factory that I'm dealing with

34:57and I'm done. Ain't I? I don't have to

34:59keep sourcing the same item over and

35:01over again. I' I've already found it.

35:03So, it's just that one time. And then

35:04afterwards, I just pick up the phone and

35:06then I reorder. I pick up my phone, I I

35:08I I pick up, you know, the uh my my chat

35:10apps and stuff like that. And then I

35:12tell my sourcing agent, "Okay, I need

35:13another 900 pieces. I need another 2,000

35:16pieces, etc., etc., and just put my

35:18orders in like that." Right? Okay. So,

35:20the next thing is the processing, right?

35:22The processing. I only do the quality

35:24control once per shipment of the item

35:28that shows up instead of like, you know,

35:30I bring back 10, 20, 30 things every

35:32single day and then I have to go through

35:34the processing of every single one by

35:36one, right? Instead, what happens to me

35:38is that like if I have a shipment of

35:402,000 units come in, I just randomly

35:42check four or five boxes, they seem to

35:44be okay, and then I stack them up in the

35:46wall on the side and then we're done,

35:48right? Because it's the same thing that

35:49we're selling over and over again. Now,

35:51as far as the listing goes, I make every

35:53single listing once and then

35:55periodically, right, I revise only to

35:58improve or adjust the listing and then

36:00occasionally I replenish whatever the uh

36:03inventory numbers are, right? And then

36:05shipping is the only thing that is a

36:07daily act that we can't escape. Every

36:09single order that goes out goes to a

36:10different customer and needs a shipping

36:11label, etc., etc. The only difference is

36:13that my product is all prepacked in a

36:16ready to ship condition. So that when

36:20the item already sells, when I we open

36:22up the master carton, the only thing

36:24that is missing is just a shipping

36:25label. Boom. We slap it up, we go.

36:27That's it. Slap it on, we go. So packing

36:29and shipping every day for us is a

36:31breeze. Okay.

36:36So that's the key differences for the

36:39two different businesses. So, we're not

36:41able to specifically correct that, but

36:44we're going to fix the first thing that

36:45we said right now is that you don't have

36:47any sourcing structure whatever. So, the

36:49recommendation is what it's this. It's

36:52to get hyper niche focused. Okay, so

36:55here we

36:56go. For the sake of this tutorial, I

36:59need to use an example. Do not get hung

37:02up on the example because if you get

37:04hung up on the example, you've missed

37:06the whole point of this exercise, right?

37:08because you can't all be doing exactly

37:11the same product. So the product the

37:13sample that we're going to be using is

37:15just for the sake of the exercise. All

37:17right. So it's because Tekken Sports

37:20specifically says right hocas and

37:22enclouds. And that's basically the

37:24running joke on this show, right? that

37:26every time we're going to talk about a

37:27reseller item, I'm just going to use

37:28Hokas and Enclouds because he's the one

37:30who said that you could get Hocas and

37:32Enclouds to the point where he goes

37:34every single week and he has parking lot

37:37Hoka guy to the point where he buys so

37:40many of it that like, you know, his

37:42friend gave him his phone number. So now

37:44he also has parking lot Hoka guy friend,

37:46right? Which doesn't even make much

37:48sense because why would you give your

37:49golden goose away to another contact?

37:51But anyways, let's suppose it's exactly

37:54as he said, right? You could come home

37:56every single week with like 150 pairs of

37:59just hocas and enclouds. Now I want to

38:02go ahead and expand that to something

38:04even more plausible, right? Which is the

38:06idea that like okay let's just say we

38:09need more than just hocas on on clouds.

38:11So let's just do hocas on clouds new

38:13balance brooks as6 and sakin. All right

38:15so I just made all of this up. Again do

38:18not get hung up on this example. I just

38:21need an example in order to explain this

38:23whole process. So when you think about

38:25these shoes of hocus and enclavas, what

38:26are they right? They're basically

38:28orthopedic sneakers that are uh

38:31podiatrist recommended for people with

38:34planer fasciitis and they're like also

38:36walking shoes etc etc and stuff like

38:38that right so here's the issue how do I

38:41know which ones are the best ones to

38:42sell it's the same idea as my floor mats

38:45isn't it just because I know Toyota Hana

38:47Nissan you know Subaru like whatever how

38:50do you know which ones are the best? So

38:51I would recommend that we do a little

38:53Google research on this, right? So you

38:55would do your go Google research and

38:57then you probably go to podiatrist

38:58forums and stuff like that because by

39:00the time people need arch support by pe

39:02by the time people are having foot pain

39:04and foot issues, they're probably going

39:06to contact these podiatrists and these

39:07podiatrists are going to uh recommend

39:09certain shoes to them and they're

39:11they're most likely going to buy

39:13accordingly. So if I try to follow this,

39:15most likely I'm going to fall under the

39:17same whole 8020 principle. Now,

39:20basically there's two ideas to this,

39:22right? You could either do exactly what

39:24I'm saying, which is, you know, research

39:26car and driver, right? Research

39:28podiatrist forms. So, whatever applies

39:30to your niche, your product or whatever,

39:32try to do something very similar to

39:34that. The other way is to do it the hard

39:37way, right? Which is every single hoka

39:39on new books, uh, New Balance, Brooks,

39:41AS6, Sakines, go ahead and buy it. Buy

39:44one copy of it and then try to sell it.

39:45And then when it doesn't sell, now you

39:47know. You know what I mean? You didn't

39:49If you didn't don't know, now you know,

39:51right? Uh but other than that, you know,

39:53the ones that do sell, great. So, here's

39:55what we're going to do that is going to

39:57start correcting, okay, this second

39:59portion, which is no replenishable items

40:02and no leverage whatsoever. Okay, I want

40:04you to go to your backend settings,

40:06right? And then uh you could change this

40:09on I I'll show you guys next time how to

40:11do it if uh you guys don't know how to

40:13do it, right? But I would say ask Chad

40:16GPT or or just Google it real quick,

40:18right? You want to change your eBay

40:20settings so that it says listings stay

40:22active even when you're out of stock.

40:24Okay? Because we are going to now

40:26attempt to create

40:28semi-relenishable listings. What does

40:30that mean? Because now I'm super

40:32hyperfocused on just getting Hocus

40:34Onclouds, New Balances, Brooks, A6, and

40:36Soc. Right? So here's the best

40:40part. I've taken out the whole thrill of

40:43the hunt. Okay. And that's going to be

40:45very sad face for some people because

40:47they enjoy the shopping, love the thrill

40:49of the hunt or whatever. But I'm going

40:51to tell you right now, the thrill of the

40:52hunt is killing you because it's wasting

40:55so much time for you to do something

40:58like that. Look, ultimately when you are

41:00going through this bolo list and you

41:02know, be on the lookout and these sold

41:03comps and whatever, right? And you're

41:05getting all these things where you're

41:06hyper, you know, sourcing sideways.

41:09Okay? What ends up happening? you're

41:12probably going to get a couple of gems,

41:13some normal flips, and then a couple of

41:16duds, right? So, what would be better in

41:18the long run to just get

41:21constant, you know, normal flips, right?

41:24With no um uh no dud items. You have no

41:28gems, but you don't really have any dud

41:30items either, right? Or to have the

41:32gems, normal flips that, you know, the

41:34combination of stuff, right? So, what

41:36would be better in the long run? Because

41:38you guys already know the gems happen,

41:40but the gems don't happen often enough.

41:42Not as often as the duds happen, and

41:44definitely not nearly as often as the

41:46normal flips happen. So, in the long

41:48run, it's most likely going to be better

41:50for your business to just go with the

41:52normal flips, right? Plus, your business

41:54becomes a lot more predictable as well.

41:56Now that you have this discipline,

41:59right, you now have sourcing structure.

42:01I only deal in these orthopedic

42:03sneakers. So, every single time I go out

42:06to shop for stuff, if they have

42:08orthopedic sneakers, I'm going to stay

42:10for 15 minutes. If they don't have

42:12orthopedic sneakers, I'm out. So,

42:14therefore, every single time I hit up

42:16different spots, I never spend any more

42:18than 2 or 3 minutes, 5 minutes tops

42:20there because either they have it or

42:22they don't, right? So, this saves you a

42:24lot of time to move on to your next spot

42:27to get the things that you should be

42:28focused on. So ultimately in the

42:30beginning, right, what I want you to do

42:32is to create a whole list, right? So

42:34specifically, Tekken Sports says he goes

42:37to flea markets and stuff like that. So

42:39here's what I created and I call these

42:41oil spots. Recently, I've been really

42:43addicted to this uh Paramount show

42:45called Land Man, and he uh does like oil

42:48rigs and stuff like that. So we're just

42:49going to use them as oil spots. I'm just

42:51making this up as I go along. Okay. So,

42:53uh the idea is that you know uh we're

42:57going to look up like I don't know maybe

43:0020 places in your area. Hopefully you

43:02have that many, right? Whether it's a

43:03Savers, a Goodwill, a Salvation Army, a

43:06flea market, etc., etc., right? Maybe uh

43:08somebody on Facebook Marketplace or a

43:10Craigslist listing or something like

43:12that. Eventually, maybe you could get to

43:13know him and then he becomes a source

43:15contact where he could become your

43:17parking lot hoka guy. You see what I'm

43:19saying? So that eventually you have your

43:21oil spots, right? And then these are the

43:23spots that you're going to go to in your

43:26route to just like pick up these things.

43:28And you definitely don't want to draw

43:30too much attention to yourself because

43:32you don't want other people to see like,

43:34hey, this guy's buying all the hocas and

43:36on clouds, right? Because clearly he

43:38knows something that I don't know. You

43:39see what I'm saying? So you kind of want

43:41to keep this under wraps and quiet for

43:43whatever it is that the item that you're

43:45doing. So, I would recommend that the

43:48first three times if you hit up this

43:50particular flea market and you just

43:51never come across any Hocas or Onclouds

43:53or whatever, whatever the item that

43:55you're looking for, then this oil spot

43:58is dry. Don't go back and then cross it

44:00off your list cuz it's a waste of your

44:01time, right? Maybe come back to it 6

44:03months later just to double check and

44:05then that's it. Other than that, the

44:07places that you do strike oil become

44:10your, you know, regular oil spots that

44:12you visit, you know, a as a as a route

44:14every single uh week, right? So now I

44:17have added sourcing structure to your

44:20business, right? You have a route that

44:22you go to that you go in and out boom

44:25boom very quickly because either you

44:27have it or you don't have it and and I'm

44:29I'm just going to go do something else.

44:30So look, I'm totally aware that the

44:34weakness of this strategy, right, is

44:36that somebody might say, Peg,

44:37realistically, there's not that many

44:39hookas or encl

44:40I'm not a reseller, okay? This is what

44:43your mentor said that it's possible to

44:45get that many shoes. So, you know, ask

44:47him. If that doesn't apply, then switch

44:51it to a different hyper niche category

44:53to see if there's that many oil spots. I

44:55would give another suggestion that like,

44:56you know, a lot of people like to say a

44:58car heart jacket sell very good, right?

45:00So, if I had to do something similar,

45:01then I would just say like what?

45:02Carhearts, uh, LLBans, North Faces, uh,

45:06Dickies, and I just do like, you know,

45:08all a couple of these brands of rugged

45:10men's jackets, right? And I just do

45:12these jackets. So, I have my old spots

45:14of jackets, and all I do is just go out

45:16and just get these jackets. You know

45:17what I mean? So, you could apply this

45:19business in a couple of ways where

45:21basically, you know, I do sneakers and I

45:22do jackets or I do, you know, uh, uh,

45:25backpacks and I do coolers or I do like,

45:28you know, some sporting gear or

45:29something. I'm just very very hyper

45:31niched focused, right? And those are the

45:33only two categories of items I buy.

45:36Those are the only three categories of

45:38items that I buy. So therefore, you

45:40know, your business now has more

45:42structure so that you're not trying to,

45:44you know, uh, look for bolo items all

45:47over the place and it's just becomes

45:49super distracting, right? Okay. So, we

45:52have created semi-replenishable

45:54listings, right? So, what happens when

45:57you create semi-replenishable listings?

45:59Basically, if we had to take like a

46:01shoe, right? I would say um I don't

46:04know. I'm just making stuff up now. Uh

46:06New Balance Super Foam or whatever. I I

46:09don't know what the model is called. Who

46:10cares? Uh and and uh it it comes in

46:13gray, right? And what's the most popular

46:15sizes that we want to do? We want to do

46:17the 8020 rule. We don't want to do sizes

46:19that hardly ever sell. So, you probably

46:21want to ad omit like sizes 14 and six or

46:23or whatever, right? So, I would just go

46:26ahead and say like, okay, if you know

46:28for a fact that 9 through 11 and 1/2 is

46:31a good idea, then I'm just going to go

46:33ahead and then put 8 and 1/2 through 11

46:35or something 8 and 1/2 through 12,

46:38something like that, right? And then if

46:40I ever come across it, then when I come

46:42back, I just, you know, replenish that

46:45item. So, the first time that we first

46:47start off this business, you're going to

46:50be a reseller normally, right? nothing

46:52is different because you were going to

46:54build these listings first, but we're

46:56not going to end these listings. You see

46:58what I'm saying? Because that way, if we

47:00ever come across it again and we've sold

47:02this item before, I just go ahead and I

47:04tick replenish for this thing, right? I

47:06just replenish the quantity for this

47:07item and then we're selling again. So

47:09over time, what happens is that I you're

47:12just like me now, right? You don't keep

47:14making the listings every single time.

47:17You're not starting from scratch and

47:18making the listings every single time.

47:20And when you're sourcing, I just trimmed

47:22a lot of the fat when it comes to

47:24sourcing, right? And when it comes to

47:26processing, because you're not making

47:28the listings all the time, the

47:30processing comes down as well. All you

47:32have to do is make sure that the shoes

47:33are clean enough in decent condition so

47:35that the previous photos that you took

47:38is close enough to sell, right? So that

47:41people don't give you an item as not

47:43described or whatever. So that you have

47:44also reduced a lot of the fat in this

47:47section as well. This is streamlining.

47:50This is actually reducing the touch

47:52points. You don't have to keep taking

47:54photos. You don't have to keep doing the

47:55listing every single time. All you do

47:57now is that you are doing the same thing

47:59as I am. You built a catalog that is

48:02parallel to the popular product lines.

48:05Right? So, these are all the shoes that

48:08were recommended by podiatrists. Right?

48:10And these shoes are actually very

48:11expensive. I actually have one pair of

48:13A6 myself that I think I paid uh uh 150

48:17bucks for or something like that, right?

48:18So, if you are in the used shoe market

48:20and then you are selling these things

48:22for 50 or $60, which is, you know,

48:24roughly about a third of the price of

48:26what new is, then there are people out

48:28there who have foot problems and planer

48:30fasciitis or whatever that they need

48:33help, but they don't want to sp they

48:35don't have the money to spend, you know,

48:37$150 on you, right? So, I'm going to

48:39clean up some shoes, etc., And then I'm

48:41going to do this for you guys. So the

48:43next thing is that now right something

48:46has changed because your store is now

48:49hyper niched even though you don't

48:51exactly have a brand identity but you

48:54can have store identity right. So now we

48:58don't have to remain on passive sales

48:59anymore. So now we're going to correct

49:01the number three. Okay. Cuz look, let's

49:04suppose that uh we are doing, you know,

49:07the orthopedic sneakers, right? And now

49:09we give ourselves a store brand. I'm

49:11just going to go ahead and call it like

49:13uh Mason's orthopedic sneaker exchange.

49:16There you go. Okay. So now I could go

49:19ahead and make like an Instagram with

49:21Instagram reels, a Tik Toks, a YouTube

49:23shorts or something like that. I don't

49:24have to be, you know, face on camera. I

49:27could just go ahead and do a slideshow

49:28real quick with an AI voice background

49:31and just be like, you know, if you have

49:33planer fasciitis and you're looking for

49:35a great deal on Enclouds, Hocas, Brooks,

49:37you know, come on down to Mason's uh

49:40orthopedic sneaker exchange and and

49:42check us out and get yourself a great,

49:44you know, deal on a new pair of uh uh

49:47orthopedic sneakers to fight that, you

49:49know, planer fasciitis, whatever. I'm

49:51just making stuff up, right? But the

49:52point is that like there's a reason to

49:54do that now. you have a narrative to go

49:57on so that you could create that

49:59external traffic and not just twidd your

50:01thumbs waiting for the sale to come to

50:04you. Right? So number one, we are doing

50:07popular things. The 8020 rule applied to

50:10this. So these things already have

50:12organic traffic so that we can go ahead

50:14and list them uh with confidence that

50:17they will get eyeballs on its own. So

50:19you're going to get that passive organic

50:21traffic, right? And then we also have a

50:23reason to advertise externally to drive

50:26even more traffic over to us. Now, I

50:29don't even really need to start off a

50:30website or anything. I all I have to do

50:32is uh spend a little time to learn how

50:34to beautify my eBay store and people

50:36could go ahead and shop with confidence

50:38because it's on eBay, right? So, I'll

50:41I'll just promote my eBay store instead.

50:43And then I'm doing these hyperniched

50:45products. Okay. Now, last thing over

50:47here, we're going to go ahead and create

50:49correct the no exit strategy for dead

50:52inventory, right? So, uh in my other

50:54episode where I tried to help, you know,

50:56a certain subscriber of ours with his

50:59dead items, I showed kind of a uh exit

51:02strategy. Now, you got to keep in mind

51:03that exit strategy actually comes from

51:05the regular pricing strategy of what

51:08private label is, right? Because in

51:10private label, I'm not just trying to

51:12get rid of the item. I'm trying to sell

51:14it many many times so that like I could

51:16push it up the ranks all the way to you

51:18know rank five, rank four, rank one if

51:20possible right now instead over here

51:24would be more of an exit strategy

51:26because you just have one that you're

51:27trying to get rid of. Uh it's a it's a

51:29stubborn size. It's a stubborn color.

51:31It's a it's a stubborn model that look

51:34I'm just willing to recoup my money on

51:36this. Right? So, I would just say on the

51:38sourcing strategy, try your best to

51:41consider not lowering the price, but

51:43rather raising the price and then

51:46aggressively raising what the promoted

51:49ad is, right? In order to get rid of

51:50this item, make a personal note of it

51:53and then delete it from your catalog so

51:55that it's a personal, okay, don't ever

51:57do this model ever again. The other ones

52:00are good. They fall under the 8020. If

52:02when you really think about it, right,

52:04what I did over here with the Toyota,

52:06Honda, Nissan, Subaru thing, right, it's

52:08not even 8020. It's more like 9010. I'm

52:10I'm aggressively trying to do just the

52:13most popular, you know, top 25 cars and

52:15then I omit, you know, the Fords and the

52:18Chevys that don't fall under this rule

52:21because those Fords and the Chevys, even

52:23though they're popular, they're not

52:25reliable cars, right? As reliable as

52:27Toyota, Honda, Nissan is. So, actually,

52:30I I don't even think Nissan is that

52:31reliable because the whole, you know, uh

52:34uh CVT transmission. Okay, I'm

52:35digressing. Let's not get into that. I

52:37just want to say that, you know what I

52:39mean? I know there's a couple of

52:40nitpickers out there on Nissan and uh I

52:42I totally agree with you. Okay, I just

52:44want to put that out there. Anyways, so

52:46when you think about what's happening

52:47over here, you're we're doing the exact

52:48same thing. We are curating and building

52:51a catalog parallel to popular product

52:54lines, right? And now we're able to

52:57start, you know, trimming things down

52:59and correcting all of the key issues

53:02here. Now, ultimately, here's the thing,

53:04right? Unlike me, I have replenishable

53:07listings. You're only going to have

53:09semi-replenishable listings. So, you

53:11might argue, okay, so how is your store

53:14and your items or whatever going to

53:16stand up against like other, you know,

53:18very strong listings and stuff like

53:19that? Well, really strong listings are

53:22going to be people like me who have

53:24constant replenishable goods, right?

53:26You'll never beat up those guys. But

53:28then again, you're not in the same

53:29market as those guys because usually

53:31people who have the constant

53:33replenishable sourced items and whatever

53:35are selling new inbox, right? So new

53:37inbox is going to be a completely

53:39different price bracket than where you

53:41are. So what you're going to be

53:42competing with is against other

53:44resellers, right? So here's the

53:46difference. The difference is that

53:48because if you're a student of Pegasus,

53:51you're going to learn that we're going

53:53to create semi-replenishable listings,

53:55right? Which basically means that uh the

53:58first time I have sold it, basically

54:00it's of zero uh sales history, right?

54:03But because I didn't end it, the next

54:05time when I come across it, I just

54:06replenish uh this particular size. And

54:08when I sell it again, I do already have

54:11some clicks. I do already have a little

54:12bit of sales uh uh uh history on it. I

54:15didn't start from zero. You see what I'm

54:17saying? It's not a zero, nothing, no

54:20metadata listing. So, your listing,

54:24okay, is going to beat out a student of

54:27Tekken Sports. You see what I'm saying?

54:29And that is the key difference over

54:31here, right? Uh ultimately, here's one

54:34of another major problem that I see,

54:36okay? Which is you can't really share

54:40exactly what your hyperniched item is

54:42with other people. Because one of the

54:44biggest problems with reselling, right,

54:46is that y'all are killing each other at

54:49the end of the day, right? If this

54:50person sells shoes, hats, blah blah

54:52blah, whatever clothing, this person

54:54sells some clothing, this person sells

54:55some books and DVDs and video games and

54:57stuff like that, essentially with so

55:00many resellers collectively selling out

55:03there, you are always in heavy

55:04competition with someone. You see what

55:06I'm saying? And as more resellers, you

55:09know, come into their community, right,

55:11the competition can only get heavier and

55:14heavier and heavier. So, what you need

55:16to do is figure out a hyperfocused niche

55:18of something that sells very well, and

55:20then try to get a lot of it, build up a

55:22decent cat uh uh catalog of it, right?

55:25Have the semi-replenishable listings so

55:27that every single time you do replenish

55:29the listing, it doesn't start from the

55:31bottom of the pile. You see what I'm

55:33saying? and then your items are going to

55:35sell just slightly better than normal

55:37resellers. Okay, anyways guys, uh I

55:40think we're going to wrap it up right

55:42here. As always, you know, there's a lot

55:44of other informations about like, you

55:46know, I have um you know, six points of

55:48innovation to go through and how

55:50momentum works and how a lot of other

55:52things work. I also wanted to show you

55:54guys that like, you know, a long time

55:56ago I showed you exactly the traditional

55:58business model and what the flowchart

56:00is, right? which is, you know, you start

56:02off with a USP and then you move on to a

56:05minimum order quantity before you start

56:07to prepare your listing and execute

56:08this, right? We monitor the sales

56:10performance for only three possible

56:12outcomes, which is your desirable

56:14outcome, your less than desirable

56:15outcome, and the bad outcome. So, the

56:18thing is that in my business, okay, when

56:21I research stuff, I spend anywhere

56:23between 3 weeks to 3 months of

56:25researching something before I pull the

56:28trigger. And that's why it's highly

56:30highly unlikely that I get outcome C.

56:33But because you're sourcing stuff with

56:35just the STR method and then bolo, you

56:37know, stuff like that, and you're doing

56:38stuff on the fly, there's always a

56:40chance that you're going to come out

56:42with outcome C. And that's what all

56:43these dead stock items is eventually

56:46going to happen to a oneoff seller,

56:49right? And this and this stuff, it needs

56:51an exit closeout strategy where most of

56:54these, you know, YouTube creators are

56:56not talking about. Okay? Most of the

56:58time what you want to end up doing is

56:59having that desirable outcome. So what

57:02we know over here right is that you know

57:04supposedly these hocas on clouds are

57:07very good sellers and stuff like that

57:08according to you know other resellers

57:11top resellers or whatever. Again, I

57:14personally don't resell, so I wouldn't

57:15know. But, uh, if that is true, okay,

57:19then I think that we if we expanded it

57:21out to, you know, limited to, uh, six

57:24top brands, and in those six top brands,

57:26we just do exactly what the podiatrist

57:28recommended top models are, I think

57:30we'll be okay. All right, guys. So, a

57:32little bit of final thoughts. All right.

57:34One of the biggest uh key problems that

57:37I I I mentioned early on as far as being

57:40a reseller is because you want to go go

57:42fast fast and try to get your listings

57:44up, right? So, when you try to get up

57:46your listings, most likely you're just

57:48going to create some generic listings

57:50with good enough titles and good enough

57:53photos. But if you are doing advanced

57:56reselling level 1.5 the way I'm showing

57:58you, you're not ending the listing now

58:00and you have semi-repenishable listings.

58:02And because you have semi-replenishable

58:04listings, now you have the option to

58:07just go ahead and revise these listings

58:09as you go along, right? So that you

58:10could get nicer photos, right? You could

58:12do uh spend more time thinking about

58:14your titles and you could spend more

58:16time on the back end to create like

58:18beautiful HTMLs that are mobile friendly

58:20in order to do this. For you guys who

58:22are out there who uh was very curious on

58:24how to do like the mobile friendly

58:26HTMLs, I can't fit everything into one

58:28class. We'll do it on another shop talk

58:30Sunday. Okay. Anyways guys, that is the

58:32video. If you enjoyed that, please give

58:34it a big like and if you learned

58:36something, please consider subscribing.

58:38As always, I'll see you guys in the

58:39next. Take care.

58:41[Music]