The Most Important Part of a Business

If you don’t want to read it, you can watch this video.

Why don’t a lot of resellers make good bank? What’s the problem with that? I’ve been thinking about that.

I think the problem is a lack of self-esteem. Yes, low self-esteem is the problem. The reason a lot of sellers do not make bank is a refusal to move up the average cost of goods sold. That means you would have to spend more money.

What do I mean by that? You have to sell shit for more money. I want to make that really clear.

Number one – you have got to get over “smallitis.” Let me tell you what happened to me. When I started the storage auction game, I was buying stuff I could move in my car. I realized quickly, that was going to be a bitch.

I was limited by infrastructure. If you do not build up your infrastructure, You’re going to keep hitting that ceiling. It’s not that you don’t have enough money. It’s that you don’t think your business is that important. You don’t.

Now these are the steps for you to up your price. I’ll use my experience. I started off renting a U-Haul which was expensive. But, I had capacity in advance of profit. Without the capacity, you can’t get the profit. At one point, I had two trucks.

I saw this dude with a ponytail. We were up in Marietta. I remember I was on South Cobb Parkway. He bought this unit and when the door goes up, it looked shitty as hell, right? It was a big unit. Shit was falling all over the place. I back up because it is beyond my infrastructure. I watch ponytail and some other people go at it and the unit goes for $650. At that point, I thought they had lost their damn mind.

Later I found out ponytail made out like a bandit. Let me tell you what I missed because I had a lack of knowledge. There were three bedroom sets in there. You could see the headboard and the racks and all of this other stuff. There were three mattress sets. He sold one bedroom set and then it was all profit after that. He still had about 90% of the unit to sell.

This is one of the reasons I started to buy bigger units. Sometimes I lost my ass, but 80% of the time I won. So, there was an 80% win rate. I increased my capacity. If you’re just doing the small stuff, you are costing yourself money, because you will never increase your capacity.

Your infrastructure is like you transmission. Let’s just say you’re super smart and you picked up the game quick and you have money in your pocket. Let’s say you are a scared little bitch to go to that next level. You’ve got the money and the talent, but you never push forward. Then you see people like me, who didn’t know much, pass your ass. That’s when the hateful remarks start.

It’s all about pushing up. Once I became educated in the resale game, I would buy a unit and sell one or two things and make back the money I spent, then have all of this other stuff to sell for profit.

I jumped into this. The same thing happens in any business. If you do not increase your capacity, which might mean hiring employees. The other day on a live stream somebody ask me about their cleaning company. I told him to hire an employee now. At the time, he had only two accounts. Number one – he wasn’t used to the money yet. Number two – you want to take on the position of a manager.

The company may not pay you for a year or two. If you go ahead and invest the money back into the company and get to a certain size, then when you get ready to leave your job, there’s money for you. It’s there because you’ve built the asset.

If you want to make more money, you have to increase the price of the average products you’re selling. You can only get so far selling low priced products. When I did eBay, I had the same problem selling $20 and $30 items as I did selling $300 and $2000 items.

The higher priced items can be harder, because you have to have a certain reputation to sell that stuff online. Go to eBay and check it out. You’ll see people that only sell high-end items with great feedback. You have to specialize and become known for selling the higher-end items.

I am amazed at the number of people who want to sell a $100 course, but have never bought a $100 course. There are people selling $500 courses that have never bought a $500 course. If you want to be in the game, you must participate on both sides.

If you like this, be sure to get on my email list for updates to live streams and special offers. Subscribe today!

Leave a Reply

Your email address will not be published. Required fields are marked *