Seller Club Podcast
Seller Club Podcast
Episode 85: The Seller Scaries - Part 2
As promised, we are back discussing FIVE more of the top ten Seller Scaries on today’s episode. If you haven’t heard episode 84, go listen to that one first and meet us back here! We’d love to know what scares you the most, and what you fearlessly face as you run your own business!
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Alright, let's do this part two. Drop that beat. Alright, let's give them the last half of this clin. Anna, how are you?
SPEAKER_00:I'm good. I'm so ready for part two. I've just been like ruminating about it since last week.
SPEAKER_02:Dreaming about it, right?
SPEAKER_00:Dreaming about it.
SPEAKER_03:Oh, some good takes.
SPEAKER_02:Oh, more nightmares, because remember, they're scariest, spooky parts of being a full-time seller on here. So more nightmare-like.
SPEAKER_00:That reminds me, we just were having this conversation with some friends who were visiting from out of town about dreams and the hilarious Mitch Hedberg bit about dreams where he says something like, um, you know, dreams are so weird, like I'm just trying to get some sleep, but but the next thing you know, I'm building a go-kart with my ex-landlord. It's like, yeah. What the heck, dreams? Like, why are you putting us in all these weird situations?
SPEAKER_02:Do you ever get up in a bad dream and you're just like mad at the person?
SPEAKER_00:Yes, and you just it's on you for like half the day. Yeah.
SPEAKER_02:How could you do that to me?
SPEAKER_00:I love it though. Like, as a therapist, I love dreams because some people are like really hardcore and like concerned about their dreams. Like, oh my gosh, I had this dream. Like, what does it mean? You know? And there's tons of schools of thought about that. It's super fascinating. But to me, like the most consistent through line is like, well, clearly, your brain is trying to work stuff out around the clock. Yeah.
SPEAKER_04:Yeah, whether you're doing it or not. Right.
SPEAKER_00:So this is one version of it trying to work out something. And sometimes you can tell really clearly what it's trying to work out, and sometimes it's building a go-kart with your ex-landlord, and it doesn't make any sense. And you're like, okay, brain, thank you for your efforts. Please let me rest.
SPEAKER_02:Like, so you believe in that, Anna, that like it it's like a sign something's going on?
SPEAKER_00:Oh yeah. Or not. I mean Yeah, yeah. I I think like the thing that I don't really ascribe to is like really specific like imagery correlates to some really specific issue, right? Like and and there are whole entire like theoretical orientations of psychology that put a lot of stock in that and a lot of other ones don't. Um so it probably has a lot to do with like how I was trained, but I just don't see it being like that consistent from person to person where it's like, oh, if you see if you if there's a red sports car in your dream, it means this, you know. I don't think it's really like that. I think it has a lot to do with whatever it means to you, but you may or may not even know what it means to you because it's also just like soup. It's just like soup.
SPEAKER_02:What about you, then do you believe in it? Uh not really. Or maybe because I really don't remember a lot of my dreams.
SPEAKER_00:Oh, you're one of those.
SPEAKER_02:I'm one of those. Your brain actually. The wife hates that. Yeah, the wife hates that because she's like, what? You don't remember? Like, what about this or that?
SPEAKER_04:Or well, so do you just feel good or feel bad and not remember it?
SPEAKER_00:Um, do you wake up with any impression at all? Are you just like, I don't know, I slept.
SPEAKER_02:Yeah, I just like I slept. Like that. Time to take on the day, I guess.
SPEAKER_00:Well, most people have four to five dreams a night. So most of us, even if we remember a dream, we're not remembering most of our dreams.
SPEAKER_02:Most of it, yeah. It's just that sounds like a whole new episode.
SPEAKER_00:The episode of our dreams. No, but I have been really excited to bring it back to the track immediately. I have been really excited to finish out this uh part two because I think it was really fun to talk about part one, and I know there's some good stuff for this episode.
SPEAKER_02:Alright, let's get into it. So, number six is being isolated. Being a full-time eBay seller can get lonely. No co-workers uh to brainstorm with or talk about your wins or struggles. Uh, your mental health can suffer a bit if you're used to you know bouncing ideas off from one another, getting feedback from one another. And in a way, I mean you kind of need that in a in uh in the business part. I think you can only do so much on your own. Um I've learned a lot from from Ken and Jim and and from Anna, all three, all just different ideas. So I think that it's good that we get to talk on a on a weekly basis and figure things out, but without it, if you're unless you're really those ones that can power through it on your own, I think that's that's really, really good, uh, which I've done for a long time, but I think I wouldn't have reached a certain level without uh talking to other other sellers that are doing different things or even learning different things. So isolation uh number six. Anna?
SPEAKER_04:Ken isolation is an option, it's a choice um I think with the technology that we have, right? I think it this is kind of weird, right? And this is the irony of oh, I'm an online reseller, I use the internet to sell stuff, I use my phone to research, uh, you know, like oh man, you sound so advanced, and all of a sudden, like, oh, I don't have friends, I don't get to talk to people.
SPEAKER_00:I'm like, dude, you just like your voice changes, it starts sounding dumber for some reason.
SPEAKER_04:Yeah, you just narrated everything advanced in your life, and all of a sudden now your your personal social skills just deteriorated because because you used the phone. Yeah, but I was like, I've always believed that you know things are just tools, and what you are translates on how to use the tools. Uh put an example like, oh, I'm an online reseller, and then when they say that, oh, I don't have really friends, I struggle being alone. No, you're just a loner that chose to become an online reseller so you don't have to deal with people, and then blame the the trade that you pick that you're low because the the reason because you're lonely. So that's my harsh take. So there you have it.
SPEAKER_00:Well, I'll um soften the blow a little bit because I I mostly agree with you. Like it is a choice, but I think it's the default choice, you know? And I think most of the time people don't realize they need to choose something else until they're really feeling the negative effects of it.
SPEAKER_04:Yeah, yeah, yeah. That's true.
SPEAKER_00:I do feel like for myself though, this is something I went into eyes wide open when I especially when I went full time um in my business, because I was like really burned out from working with people 24-7. And I was I wanted something that was isolating a little bit, like just so I could recover from my burnout and like for a time. And then, like, as you know, especially Ken, like when we met at in San Jose on eBay's campus years ago at this point, that was the point at which I was like, okay, I've had some time to like recover.
SPEAKER_04:You can have people in my life.
SPEAKER_00:Yeah, I can get I can like tolerate and be interested in like these kind of like work acquaintance relationships, you know, and just like I mean, talking shop with people is fun, obviously, but but more than that, to like actually have room and bandwidth in my life and my brain for like new relationships with people because I don't like to just like skate along the surface with any relationships if possible, you know. But for a time I just like had had so much of like intense relationships and um like all my therapy clients and stuff, like all of that just like takes a lot of emotional energy and and other, you know, just in general a lot of energy um and and brain space. So I was like, this is the good news. At first, it's like, oh, you're all by yourself. That is fantastic news. That's exactly what I need. And then, yeah, after a while, it's like, well, that can become the bad news. It's kind of a lot of things about being a business owner are like that. It's like, the good news is it's all up to you and you get to make all the decisions. The bad news is it's all up to you and you get to make all the decisions. The good news is you don't have to work with anyone. The bad news is you don't get to work with anyone unless you hire someone or make the effort to make those inroads with people and have have friends, you know, and have like colleagues. Um, they don't come built in. So yeah, it's just one more of those double-edged swords, I think.
SPEAKER_02:Kenny, anything else?
SPEAKER_04:Have you seen those memes like, oh, I don't have a nine to five, I went, you know, I went chase my dreams, now I have a 24-7. Yeah.
SPEAKER_05:Yeah.
SPEAKER_00:Kind of true. At least in the beginning, it's true. Yeah, yeah, yeah.
SPEAKER_04:That's not how I see it. But no, no. I I mean, I I I guess to uh sweeten it, that you know, I highly encourage people to you know find um somebody to talk to, to learn from, or even just follow. I think that's one of the cool things that I've done. I feel like I, you know, like people that do stuff on social media.
SPEAKER_00:Like not physically, don't stalk people.
SPEAKER_04:Yeah, yeah. You don't you know, just follow them. And it's just really like there's something about following and watching things progress. That's just kind of like how I like the uh the people that do car YouTubers are mostly the people that I follow, and I've just seen them grow and grow and grow, you know, like from one car to you know, now like 50 cars, you know, different, you know, and then now employing their friends, employing, you know, people that they knew. So that was kind of that's kinda like always cool. So you know, kind of like model yourself after that. That it can't I mean it might be lonely in the beginning, but it's just really not that lonely if you know you just make an effort. Kind of like Anna said, like if you need space, great. If if you need some interaction, there's a lot of you know, especially now that you you can restructure your schedule. You know, when I have friends like, hey, like you're gonna go out to lunch, yeah. Anytime, what's your free time? Yeah, so I don't I don't have to say like ah I'm free here, I'm free here. Then it's hard to sync. So now I just say like when. Yeah. And then I'll be there.
SPEAKER_02:Alright, number seven. This is kind of funny that it's like its own thing, um, but it's the reseller that's driven by fear. Here's what this uh reseller looks like. Um that's the one that even when you're succeeding, you have this fear that you're not doing good enough. Um you also have this fear of people finding out where you're sourcing. And you also have a fear of missing out when you go to, let's say, thrift stores and things like that, that um, you know, some other sellers are taking your items. So those are the top three fears um that this reseller may have.
SPEAKER_00:Sounds like a big old scarcity mindset. I thought you were gonna be like, here's what this reseller looks like about 5'10, short dark hair. Just kidding. I don't know. I don't know who that would be.
SPEAKER_02:Are they gonna say like, uh like 5'6, Filipino? So the the it's kind of funny that this one comes right after the isolation one.
SPEAKER_04:Yeah, yeah.
SPEAKER_00:Because um kind of self self-induced isolation.
SPEAKER_02:Because when me and Ken used to do the live shows, we'd hear it from so many people that were like, I'm never going to talk to another reseller in my area.
SPEAKER_00:Yeah.
SPEAKER_02:Like, I'm the big dog in this. Like, are you really though? Or are you just saying that?
SPEAKER_00:Because are those do they give themselves nicknames? I feel like that's the same type of person. I think they're like, I'm gonna give myself a nickname.
SPEAKER_02:Yeah, and and it's kind of funny though, because these also are the ones that don't really want to like they want to talk, but they don't want to show their face on any sort of profile photo. Yeah, yeah. They don't want their but they have a lot to say, you know? And they're behind the keyboard warriors. Yeah, exactly. And when you see them in stores, it's like you're supposed to feel intimidated by them or something like that.
SPEAKER_00:Yeah, but they look like X signals, guys.
SPEAKER_02:Exactly. They've told me there was there was a reseller that I met, what was he, two no, it was like three months ago already, but he sells on eBay, sells on Amazon, and he had a friend that was like, hey, I think that's uh Huzzler Hacks that has a channel. And they saw me, I guess, at my storage unit, uh, when I was like exiting the car. And the guy was like, I don't know, he he looks he looks mean or he looks annoyed or something like that. And then um the other guy came and he's like, Yeah, my friend said that he didn't know if you're like a nice guy or not, because you I don't know, you look you look intimidating in a way or something. I was like, what?
SPEAKER_00:Like it's like I think that's a you problem.
SPEAKER_04:You know what I say when I say it's called my hot face. It's just so hot that I'm squinting and I look mad.
SPEAKER_00:Oh my god.
SPEAKER_02:Or it's just my resting witch witch face.
SPEAKER_00:Your resting reseller face.
SPEAKER_02:Yeah.
SPEAKER_00:That's hilarious.
SPEAKER_04:Well, well, one is Glenstall. It's Glenstall, so uh intimidating, right? He's like, dude, like I don't even think he's a real Mexican, he's really tall. And he has uh Wow Yeah, right?
SPEAKER_00:So it's like so and uh no, like he's no, like you boxed, so maybe they were just scared of you. Maybe they're just a little scared.
SPEAKER_04:Oh yeah, he saw you uh oh, maybe did you have a shirt on?
SPEAKER_02:I have a I have a shirt on, but the sleeves were cut. Oh that's what it is.
SPEAKER_00:I thought you only wore shirts on the podcast, I think, part of the time you didn't know.
SPEAKER_04:Yeah, cut the sleeves. He saw the he he saw like the tattooed skull.
SPEAKER_02:On my neck, the tattooed on my neck. It's like, oh man.
SPEAKER_04:Or on the rib cage, everything, you know, like the scars, the battle scars.
SPEAKER_02:Wow. So going to scores, I think like, well, think like Nike Outlet, for example. I mean, Ken has seen so many other resellers more than I have in mind. I kind of see the same ones. Um, there's nothing we only have one outlet anyway. There's only so much you can do. But from Ken that has multiple. He's seen so many of them try to intimidate him. He's seen so many of them that uh don't even approach him. He's seen some that actually do want to work together, like hey, buy this, buy that, work together. So what do you think about that fear silence?
SPEAKER_04:Yeah, I I think it's uh I I I've I've kind of like grown to empathize and kind of just like you know, get to feel for them because I think it goes back to like maybe they just have terrible social skills and they don't want they don't know how to um open a conversation, right? That's that's what I always say. And then and then when I have a when I have a hint that somebody's a reseller, I just talk reselling to my wife, to JC. It's like babe, you think just sells good on eBay? Oh my god. Like that. And then they just start looking at you like oh, like because like I'm just like giving the hint, right? Like if they don't know I'm the hustle bee, at least they would know I'm a reseller. You know, I was like, babe, this flips good on, you know, like check go check stock X. I say that out loud. And then the employees like giggle because they know I don't act like that. Yeah, and they know there's like somebody new a reselling in my area, or or I was like, oh no, like they're about to like fight, and then and then I always look in. Yeah, and I I always loop in the reset uh the employees, and then me and the reset once me and the reseller start talking, it's like, see, we we we're friends, like we're not gonna like, you know, we're not gonna spill blood in your store. We kind of like joke around like that. Um so at least not today.
SPEAKER_00:I don't know what's wrong with you guys. No one's ever tried to fight me.
SPEAKER_02:Oh man.
SPEAKER_04:Oh no, no. Um in in and Nike outlets is a different beast because people like people like um, you know, camp in line, right? Next thing you know, there's one guy, right? Like a minute before they open, next thing you know, there's five of them. So next thing you know, you feel like you get skipped, right? Like, and then and then during the during COVID, they would only allow four feet five people at a time. So next thing you know, you're like in the store. Yeah, so next thing you know, you're like, oh crap, like they just cut in front of me, kind of feeling. So that yeah, it's annoying, but you know, like I've never really confronted anybody. I sometimes I just kind of just like you know, kind of like instigate and then be like, and I'm looking at what they buy, and then they said like uh and and then when I know it's trash, I say like, hey, do you want more of those? I can proxy for you, I can buy 10 more for you, I can buy five more for you. Kind of just like sink them deeper in a bad buy. That's the worst thing I have done. I've helped terrible. You want any more of these? You want any more of these? I'll buy more of you.
SPEAKER_00:Like, but that's just because you think you're being a turd, right? Like I've sourced with you a lot, and I I feel like you're never actually intimidated by anyone because you actually know that there is like way more than enough for everyone. Of course, you still want to get the best stuff you can get. Yeah, yeah, yeah. Anyone I still like hurry up. There's no need to be weird about it, people. Like, don't be a turd.
SPEAKER_04:Yeah, Jay JC does this, like, baby, let me talk to him. And then JC starts talking to him, and then I just go zooming around, like get the money.
SPEAKER_00:Just distracts them.
SPEAKER_04:That's a good game plan, too. Yeah, that's a good game plan. Yeah, yeah, yeah.
SPEAKER_00:You need somebody to like you gotta work on those cloning plans.
SPEAKER_04:No, that's my funny take. What about you, Anna?
SPEAKER_02:Anna, the fear?
SPEAKER_00:That is funny. Well, I feel like the uh there's a lot of callbacks to, you know, the psychology side of my brain in this in this episode, but this is another one because I love this saying. I've probably said it on the podcast before, but that every inferiority complex is just I'm sorry, I'm saying it wrong. Every superiority complex is just an inferiority complex in disguise. And I would add to that, it's not a very good disguise. It's pretty obvious when somebody's being like trying to intimidate or act like, oh, I'm like, you know, the biggest fish in the pond and blah blah and I can't, I've gotta like nobody can borrow my toys, I've gotta keep everything for myself. Like, obviously that's rooted in fear. Like, what else would it be rooted in? You know what I mean? Like people who feel secure are able and willing to stay way more open and share. And I really think that that comes back to us in spades in the form of opportunity. Like if you're open and you're not busy like clutching everything, you know, in your own grasp, like for yourself, like there's a lot more that is available to you. Whether that's literally good inventory or opportunities or networking, you know, relationships or conversations with managers or whoever, you know, like you just never know. And when you're really busy micromanaging, like locking everything down for yourself, you're missing out on a lot. So it's kind of like it's kind of cyclical, right? Like that just kind of when you act like that, it reinforces your belief that it real there really isn't enough for everyone. Or at least you're you maybe all you care about is that there isn't enough for you.
SPEAKER_04:So Yeah. And also too, like if you start thinking about that, you gotta start looking at your bank account because at the end of the day, you can't really buy all.
SPEAKER_00:You can't, you know. I can't.
SPEAKER_04:You know, like that's that's the har the harsh reality of it. You know, like if I combine my buys and your buys and the other resellers buy you, you think you can buy it all today, now? Or even if you can, can you haul them out? Can you get them to your house?
SPEAKER_00:It's like you're gonna drown in logistics. Yeah, yeah. If you really tried to do that's what everything you're trying to keep everyone else from.
SPEAKER_04:Yeah, like when things happen like that, I know how much capacity I have in my vehicle.
SPEAKER_00:Yeah.
SPEAKER_04:And I'm like, okay, I need 200 pairs. And that's it. After 200 pairs, I'm literally asking the other guys, like, hey, what are you looking for? Maybe I've ran across it, and then here's here's you know, like you you rank it, right? Like if you're a smart buyer, get the cream of the crop and drop the ones that are not, and might as well hand it over to another reseller. That way, you know, you'll gain favor, you know, in return just being nice. It helps the store liquidate more, that way they can get more newer products. That's how it works.
SPEAKER_00:Yeah, and I I feel like this mentality I have seen in my you know brief stint splitting my attention between retail arb and thrifting stuff. I definitely see this way more in retail arb. Like, I don't know anybody who goes to the bins and is like nobody else should be here sourcing. It's like there are just a gajillion pounds of new stuff at the bins every minute. Wait, there's it's really obvious that there is no shortage.
SPEAKER_04:We're gonna bring Anna to uh the Florida bins. Oh yeah, the Florida bins.
SPEAKER_00:Why the Florida bins?
SPEAKER_04:No, not well, me and Glenn have been there. We've been there. Florida's big though. Where? Uh it was around like Orlando, right, Glenn?
SPEAKER_02:Yeah, it's an Orlando area.
SPEAKER_04:Yeah. When when the when the bin change happens, yeah. Oh, it's like uh it's like uh it's a cattle call. It's like a yeah, it's like a football match that there's like a bell or something like that, and then they run. It's bananas. Like, but you know.
SPEAKER_02:Yeah, it's crazy. What about like the fear of missing out? Like you see another reseller getting stuff. How do you feel about that?
SPEAKER_04:I'm guilty about that.
SPEAKER_02:You don't like it.
SPEAKER_04:You'll Yeah, because it's like I it's like fear of missing out on opportunity because I'm just doing something else. You know, like the the hardest part is like, you know, like me and JC like you know, go back to the Philippines, and next thing you know, there's a massive sale at Nike, and I'm like, oh man, right? Like dang it. That one, um, I I I caught it the last time when um Ross was like heating up. I think when Ross started getting all those like AMA out Burlington, getting those Jordans, and then high end running shoes at Ross. Um I went a little crazy. Um we we I was like, I told JC like let's drop everything, let's hop on the car and out hustle this city. And and we did. And uh it was fun. But that's kinda like and then now and then now you just like you just have to pick your poison, really, right? Like because then you can have inventory sitting unlisted, then it could be selling, or you could be sourcing more, so it's kinda like, you know, pick your battles at that point.
SPEAKER_00:Yeah, for sure. No, I only feel like that if I have nothing already that I need to list and I'm going out sourcing and coming up empty-handed and then seeing other people finding good stuff somewhere else. You know, but like I'm all that to say, like, that almost never happens. Like, even right now, this week, I have stuff from the the last that I sourced last week that I haven't listed yet. And it's like if if I were to like stay on social media or something, oh man, somebody just got this great haul of stuff, it's like I've got, you know, money sunk into inventory that is great inventory that I haven't even listed yet. So what am I even thinking? Like, cause I because I know I'm one person, you know, so if I'm if I'm that worried about it, I should be spending my time listing and not sourcing anyway, because I have stuff sitting there. But um, but I mean there definitely have been times where where where that's happened where I like I literally don't have anything to list. And I've been to a few thrift stores and I'm like, man, today's just kind of a bust, you know. But I can't think of a time that that ever lasted more than like a day. You know, it's like then I go somewhere else the next day and I find great stuff. So it's always short-lived if I get to the point of kind of being in the position to feel that way, but it's contingent on both of those things. Like if I literally have nothing to list right now and I'm just not finding stuff and I'm actively like looking, that's the only time I'm tempted to like feel sorry about it.
SPEAKER_02:All right, all right, we got three left. And the next on number eight is uh lack of structure, which uh Anna said that you know you are your own boss, but uh so since you have no boss, you also have no fixed hours or really any rules uh to tell you when you have to do anything, and you have to figure out when you are gonna do any of this stuff. So there's uh procrastination, burnout, or even poor time management that can take over.
SPEAKER_04:Yeah, it seems like the only rule is not break the law.
SPEAKER_00:That is still a rule, Ken. You're right.
SPEAKER_04:No, I mean that's that's that's really my parameter. The only true rule. Not break the law. You know, don't speed, you know, don't, you know, make sure you stop on a red light, like those kind of things. Um uh no, that is that is tough.
SPEAKER_00:Uh but you have rules like get everything listed in 24 hours.
SPEAKER_04:Yeah, yeah, you do. Like you have to create it, right? You have to create it. Like you have to create it. Um I feel like more and more the more responsible I want to become, the more rules you need to set. Um but also it is the rhythm of hey, can I be the spontaneous being who I am? And or do I need to uh just work and label and rearrange, which is ev like which is what we've done the last six hours today. So it's like I'm I'm ruled out.
SPEAKER_00:The rules can stand, but when do the rules apply? Because they don't apply uh all day, every day.
SPEAKER_04:Right?
SPEAKER_03:Like depends on what the boss says.
SPEAKER_00:When you're the boss, when you're the boss, it's way easier to make exceptions if you think they're justified. Honestly, that's what I love about it. A, I do hate people telling me what to do in general. Um B, who who does, right? Who likes being told what to do? I mean, but I do appreciate structure when I like know what to do, right? There's a clearly defined role. I know when a task is finished, I know what it means to do a good job at that task. Like, definitely that stuff's great. But um yeah, when you're your own boss, you you do still have to make rules, but I guess my my hope for myself as my own boss is that I won't make any rules that I think are like stupid rules. Because that's the only other time that in any other setting, if I'm not the boss, I don't like having to follow rules that don't make sense to me, right? I don't like to have to follow rules that are like stupid or counterproductive or whatever. So I just don't make rules like that. And if there's a rule like say like your rule, Ken, like getting everything listed within 24 hours, I think that's a great rule, or let's call it maybe a guideline, because obviously there are times where it's like oh well that would actually be really counterproductive to stop the flow of what I'm doing to make sure that I follow that arbitrary rule. Like the rule is there to help you, you're not, you know, the rule was created for you, you were not created for the rule. So you have to use them wisely, I think, and not just arbitrarily stick to them because it's there. Like I don't think that's very helpful.
SPEAKER_04:Kenny. Well, I like it.
SPEAKER_00:What about you, Gwen? Captain Consistency. Yeah, yeah, yeah. I want to hear from you about this one.
SPEAKER_02:Well, I think the time management is key, I believe, in everything you do, though. Because especially with the business side, but I mean, even the podcast, right? You gotta figure out when we're gonna do certain episodes when we and Ken went live for how many straight years. Like you have to incorporate that time management on that Wednesday at a certain time, and then now on whatnot, like what time are we gonna be on or not, or things like that. And the time management is is just key, but I feel like you do need at some point to uh I don't know, figure that out with with family time too, and how you're gonna make that work. And so that's that's also another another.
SPEAKER_00:Yeah, because I mean rules should protect your personal time or your family time or like your processes, right? Like rules should be like helping you. kind of facilitate the best case scenario in that work life rhythm, you know?
SPEAKER_05:Yeah.
SPEAKER_00:Um I was just thinking as you were talking though, as hustler hats, like, you know, the the old well-worn analogy of like you're when you're the you're a business owner, so you're wearing all these different hats. And I just like imagined you having a meeting with yourself and like just literally switching hats. Okay, Glenn, I know you want to go source this extra place today, but remember we have to go blah blah blah. And then you put on your other hat and you're like that's a stupid rule. Do I have to like turn in off hours or what do I do?
SPEAKER_02:I know. Well one of the examples You should do a skit. I should that'd be good. Wear a different hat or just a different head in general.
SPEAKER_00:Can you like grow another head out of your shoulder or you could do like sock puppets on your hands and then all three of you could talk.
SPEAKER_02:Very true. Isn't that like a Michael Scott when he had the other head oh my God one example too is like 4th of July is already coming up and then of course one of the examples that of course whatnot they're like hey since people are going to be with their families right half off fees if you go live on 4th of July. Well so they they tempt you as the seller like oh well if I don't get a lot of people watching or should I go live? And so there's your time management like what you know you have to make that decision.
SPEAKER_00:If you're like well I was planning on being with my family but otherwise I could take advantage of everyone trying to kind of avoid direct constant contact with their family by being on their phone I mean Oh man it is part of the problem you know don't be the solution come on the problem.
SPEAKER_04:Come on now. Yeah be a villain sometime. Exactly I wish I wish emails were that straightforward what do you mean like like what we just said like hey 4th of July is coming you don't want to be with your family anyway might as well stream and there are a lot of people like you as well they don't want to c talk to their family so might as well tempt them to just be on your phone for the rest of the day.
SPEAKER_02:Yeah isn't that a great idea wonderful idea that would be wonderful imagine a world where just no like scammy marketing just be straightforward that would how that's how it would sound yeah anyway this episode is that is brought to you by eBay so just listen and enjoy time with family that's right don't even worry about going live yeah we have two left okay let's do this are we gonna make it we can and we will yeah okay great we will we will legal there's number nine legal and tax complications oh licenses contracts regulations um handling taxes all these can be costly if you make several mistakes or you're not focused on that side of the business. So this is probably the stuff that um we know that they've been changing the rules too right you sell over oh yeah like 1099 exactly this kind of stuff and a lot of people don't really realize any of this too because I don't know like I'm having a garage sale or I'm just selling this to so and so and I'm not really thinking about this tax.
SPEAKER_00:Selling my personal stuff that I at a loss for what I paid for it. Yeah.
SPEAKER_02:You know these are the things you're really thinking about. You're just trying to get that extra money or try to you know get things out of the way and try to get some extra room. So those are the things that can definitely add up and it's just the more you sell, the more you expand or maybe you get an employee more things come into play that can make it definitely complicated if you're not used to that.
SPEAKER_00:So I mean that's the worthy scary number nine I feel yeah it's the business within the business right because it's important and it's uh usually not the type of information and processes that we all just happen to know about, especially if we don't have a business background and we like selling stuff online and yet you know there's this whole side of it that you do have to know a little bit to like manage it well, right? You don't have to be like an expert and certainly there are other ways to like streamline it make it easy. Like I will totally shamelessly plug Seller ledger here especially for the tax prep side of it. But you know if you're not aware that there are tools like that or you're not aware of even what you need to be keeping track of like it can be a mess and it can be really intimidating. So I think yeah I mean that I think that is a big barrier to some people I feel like that's a barrier for some people to go to seriously consider you know treating their eBay store like a business. If they're just a hobby seller but they're like oh I'm not a real business like they don't want to be on the hook for that you know yeah but it's not really that hard once you understand the basics. And the scariest thing is not knowing what you don't know.
SPEAKER_04:So kind of still understand the law of the land that any income needs to be reported. It don't matter if it's$20,000 or$20 if you made that income on something report it or log it. That's one and I think everybody's like oh I want it to be$20,000 so I don't get$1099. Even though if you get$1099 or not if you get you're still supposed to report it. Yeah if you get audited and you you there's like$19,999 that you accumulated digitally one way or another they're gonna ask you like where does this come from and you'll be like oh I was selling but I didn't get$1099. No that's not like an exception of not paying taxes. So there's one and then the other is if you don't want to learn there's a price to pay which is hire an accountant a bookkeeper or get a sufferer like you're two things. Um lucky for me well not really lucky I think I've just um saw it ahead that I was really good at accounting um when I was in the university um I ate accounting like a piece of cake I loved it um which I haven't had a cake in a really long time guys I haven't had a donut I haven't had ice cream these guys are spiraling down um but no so so that's it's for me it's binary it's either you you learn it and do it yourself or you hire somebody and both of those has you right one is money costs you something yeah one is time and one is money so you pick right like learning spending forty hours if you have zero knowledge on accountant accounting or paying somebody four hundred five hundred eight hundred dollars whatever that m number is um to do that and and and here's the thing none of the like when when people say like oh I'm afraid I may make make make a mistake none of these things are deadly by the way right right and everything can be resolved that's the beauty of it. I made a mistake remember when I was still working that I didn't realize which was my fault that bonus um and cash incentives w didn't get withheld in my paycheck. Oh yeah right and then at the end of the well also I was just a go getter so they just fed me bonus and incentives and you're like and uh what I didn't realize that I made that year I made more in bonuses and incentives more than my pay and I was like so uh so guess what IRS like look this is how much you owe and I was like I can't pay it I was like all right we'll put you on the monthly plan.
SPEAKER_00:Yep and uh uh took me a year and a half to pay it off not bad yeah it was it was indeadly I didn't go to prison it's doable yeah and I this actually reminds me of one of the earlier like episodes we did with Kevin from Seller Ledger where he talked all about like the likelihood of getting audited and what actually happens when you get audited and it was so not scary at all if you actually know what but that again like what I was saying earlier the unknown is the scariest part. So if you're like oh my gosh the IRS is gonna beat down my door and drag me to jail because I got my taxes wrong like that is so not how it works. You get a mail we don't know how it works, right? Our minds fill in the blanks with usually something that's more negative or more dramatic than it really is. So get informed at least about that so you know if you're wasting your time being worried about it, you know?
SPEAKER_02:I think another good part about the uh legal and tax complications of this one is to make sure you're actually making money.
SPEAKER_00:Oh my gosh, yes know your numbers please know your numbers then you're stressing about it for really nothing.
SPEAKER_02:Yeah you don't want to go off of feelings uh well I feel like I'm doing bad I feel like I've made money on this uh yeah I feel like I'm doing really good I'm just and the next thing you know uh you know you lost money this year right our feelings are so situational yeah hey hey if you lost money you don't have to pay taxes good news for you yeah there's a post to call a silver lining yeah silver lining of losing money is you don't have to pay taxes definitely property taxes at least uh here in tax pay for that here in taxes so don't buy a house don't buy yeah yeah Glenn has to pay property taxes pay it off you still gotta pay your property yeah I know what a scam I know I'm just joking IR that's no that's a different episode I agree we we can go we can go long on that one yeah all right our last one best for last scaling risks is number 10 and uh expanding hiring or investing more into the business can either drain you or maybe feel a little questionable or maybe you're all confident but you can actually lose it all if you don't know what's going on. It can turn into a financial nightmare depending on one wrong move into your eBay business. So where are we at on scaling?
SPEAKER_00:Yeah I feel like this is the grown up version of the fear of you know taking your hobby store to a full-time store this is like the next iteration of that where you're taking your probably full time or full-time income at least store up to like actually scaling exponentially which which usually does necessarily mean like way more expenses probably managing people on some level uh you know a secondary location um yeah it gets way more complicated right I feel like it's uh I don't know like it kind of should be scary and like uh put the fear of God in your heart a little bit way because like like you were saying one wrong move could like really cost you like yeah dearly right if it's not scary it's not big enough. Yeah but at the same time at the same time though what we were just talking about with like taxes and accounting and all that like that applies here too like if you don't know anything because remember you're probably not a business person or like a person with a business education or whatever like maybe that feels more risky to you because again like you're back in this in a position where you don't know what you don't know. Like what are the things that could even go wrong that you might or might not be looking out for so again though there are so many people available with that expertise and I do think this kind of goes full circle back to isolation right like imagine that you have stayed in that that isolation state as a reseller and you've done really well for yourself in your business and you are willing and ready to scale up but you're like totally on your own. Right. Like this is just another reason why isolation is a choice and it's probably not the right choice because if you're trying to go far like what is that saying Ken you want to go to go fast go by yourself. Yeah you want to go far go together go together and this is a place where like you really need to be going together if you want a sustainable successful scale up.
SPEAKER_04:Yeah because it will it will it would need a lot more hints. Yeah right even with the automation that everybody says there is available even if it's like you know FBA fulfilled you know if even if you don't have it it's still more right anything unless you downsize and you just start selling cars and then all of a sudden it's just one but again one sale. Right? Like so so that's I've I feel like it's not it's not scary to grow in quantity and quality of the same similar items that you already are selling. I don't think it's not I don't think it is it's just a matter of logistical solution. For example like my initial goal is to get to half a million listed in eBay of similar items. So so you know kind of fell short but obviously that's kind of like how you cycle through right like you have to sell down again. Yeah you gotta cycle down and then buy more cycle down buy more so it's kind of like you know add two sell one add three sell two you know add four right something like that kind of equation so I think it's doable for two people to manage um like kind of like half a million worth of inventory um but anything beyond that there's definitely gonna be need more help. And I feel like when there's more help and more people for me that when that's when it becomes risky because your overhead just goes if if you're paying properly your overhead goes right way way above right that's and I've always said this if you add an employee that's not technically really the business paying it it's actually part of your take home pay that goes to that person. Yeah so my mind thinking is like hey should I stay in this uh size and grow a little bit at a time and get to have a nice car or should I scale more and not have a nice car because that car payment's gotta go to somebody.
SPEAKER_00:Still take home the same yeah right so that's that's absolutely that's the dilemma. It is a dilemma because it's another like short ish term sacrifice if if that hire is gonna allow you know exponential growth and then eventually your take home pay is double okay yeah correct yeah it has to be but if you're if you're not even on the path to that or you don't know what your goal is like it's a questionable choice right yeah the first right hand person is so key.
SPEAKER_04:Um yeah the the I would say I would say that person would be like the shipping and inventory manager. That would free you up to not be anchored down in your fulfillment area. Yeah that way you can make moves right like like when you imagine when you wake up not having to worry about shipment not having to worry about half a day they ship half a day they they list right and then when you have a bulk of inventory all you gotta do is help them list. Yeah right and and then and then the rest in between is just you trying to make moves here and there make moves here and there. And also live life and that's one of the things that you have to realize that um right so I think I think that's it's it's a risk but it's a risk not to grow either.
SPEAKER_00:I want to volley this back to Glenn because he seemed very serious when he was like where are you guys at with scaling? Yeah where are you at with scaling?
SPEAKER_02:I mean I'm definitely not at the 400 whatever part I mean Ken if when you're at when you're at 400 something thousand I mean how many sales per day more or less like 30 and then we gotta replenish the 30 and then we gotta add you cannot replenish some problem at that level you cannot that's why like you sell down so fast.
SPEAKER_00:But hold on hold on you might not be able to replenish 30 but can you replenish the value of 30 ish no no not not selling similar items.
SPEAKER_04:Right right right not on like a not on like a kind of like really trendy sale patterns right like most of retail ARB is mostly like Black Friday Christmas holiday or like their clear or their clearance within you know like they they do like a in a year or start of the year clearance right so those are two most retail ARB has two or three sometimes four big clearances during the year that you can buy bulk off just like retail ARB right not not including like the the wholesale connect and stuff like that. And and and that's when you can right like imagine if you sell down you know on this year let's say I sell down you know half of my inventory which is okay but within a six months term right like six months I've sold 200,000 already and then now in the next six months can I replenish six hundred thousand uh I mean two hundred thousand possibly possibly very I mean we we did it last you know last six months yeah um so but as soon as it get bigger right like the snowball effect now I'm questioning I was like man like you know like the the the the worst case you think logistics right I don't think it's possible for two people right you you were clutch when you were available to help us and uh so there were three you know that's true and then like three some of the time yeah anything more than that then I'm gonna I'm gonna need another person to drive a vehicle you know and ship at the same time while we're gone.
SPEAKER_00:So um it is uh that's why I that's why we haven't got over it yet Glenn I still have a dream of like buying a building and having my business run out of like the unglamorous part of the building and running a couple other businesses that are totally different out of the building. But I feel like that's really far off. But maybe not I mean I've felt like other big moves in my life were really far off and then they happened within a year and I was like holy cow how did that happen so you just need to I'm just I just keep dreaming about it because I think it just needs to be like at some point.
SPEAKER_04:I feel like if you consolidate a few eBay stores that if you think about it right somebody can ship a hundred items a day. Yeah right just this is your job put it in this way will you pay somebody a dollar to ship an item probably yes oh yeah will somebody work for a hundred bucks a day oh yeah probably yes I would work for a hundred bucks a day that's what I'm saying right like that's what I'm saying like I think I think that's the key yeah that is the key right but like for example in my position if I'm selling 30 packages a day it'd be pretty hard to find somebody to ship for 30 bucks on it don't matter because you're taking them you know like whatever they do in the rest of the day 30 bucks is not as significant that somebody won yeah exactly but if you say like I mean now even uh 150 oh 150 you know doable yeah and then you pay them a dollar per listing whatever that is photo everything like that oh like whoever this person is banking yeah for real is gonna bank and super incentivized to do a quick quality job yeah because yeah and then every soon they get done they're done and then and then every wrong move minus five you get penalized oh man hey we only we only do perfection so it's like if you make a mistake you're gonna ship five for free you need to test that out on yourself and start giving yourself a dollar for everything you ship in a jar and then cost yourself five dollars and you mess something up that'd be so funny.
SPEAKER_00:Oh no no no we would we don't make mistakes we haven't made mistakes no mistakes perfect we haven't made mistakes zero mistakes zero mistakes oh one one but we solved it we actually called Anna Anna solved it we solved something Glenn thank you for not missing a moment of the beat right there so so it was still a dollar butt for Anna see so instead of causing so okay fine right we got to find a solution it's still resolving a problem it's still satisfying if you create the problem yeah it cancels itself out if you find the solution so it was an easy solution anyway so Glenn what do you think uh what do I think about what though the scaling scaling where where are we buying the warehouse consolidate all our stores oh man the warehouse thing would have been amazing in El Caso no where do you guys live too having like a big basement is just like thing of dreams it is because we we barely even have like a little attic thing that you can even put whatever you can't it's too hot.
SPEAKER_02:Yeah too hot yeah yeah yeah you'll lose it so man having uh I hate a big garage yeah you could it's hot in there too unless you have the right insulation controlled. Yeah but seeing people like on House Hunters you know getting like huge basements I'm like man that would be I know that'd be amazing just for inventory to your point though of uh you know having a bunch of eBay stores where one person ships for them I mean there's like remote you know shipping places like that like there's companies that do that but I love that idea maybe that's an evolution of seller club you guys the club of sellers yeah seller club warehouse yeah that'd be so cool I guess let us know if you're listening to this and you want to go in on us with that.
SPEAKER_04:Oh no maybe somebody has a warehouse that too excuse me yeah we could get Snickers envy in there game over definitely game over that's all maybe if we get all our four of our stores who wants to ship for us that's why we gotta that's the ad.
SPEAKER_02:That's the ad who wants to ship for us are those people that have like multiple stores only focusing on certain niches I guess. Yeah you know there we go. Yeah true then that's another idea. Streamline yeah I think I would hate well I guess the only thing I'm at for scaling part is like I would love to separate the work and business part. I mean they kind of are with like the storage unit that I have but then they're kind of not because I still sell out of my house obviously yeah talking to you guys full separation of home and work. Yeah yeah not these boxes right next to my face yeah uh things like that.
SPEAKER_00:So I kind of feel like that too like and I have a much better space now but I've also taken in a bunch more inventory this year than I expected at once. So I'm like I've overflowed it which is annoying. It's doable but it's annoying and like even if I did have another space I would probably keep this as my office still and right right if I needed to ship something I'd probably have a shipping station both places just ready to go. You know what I mean? Like it would never be completely out of my house.
SPEAKER_02:I think but it would be nice to have the last point the the bonus would be the la the bonus would be resellers are so romantic with our inventory oh yeah that is well that that we definitely know that's that's going off of feelings that's going off of like not even talking numbers and stats worth more yeah that's like oh I remember this I sourced this I was sick but I went out I'm like whatever I grew up everybody has a story for that like oh I was supposed to not go but I want this thing and it was just giant like okay thanks by yeah you gotta remember the goal is to sell it yeah I would say that's my that's my scaling part is the overhead part that that kind of concerns me on like a bigger comfortable like space to work out of yeah but how much more is that going to cost you can you do it sure I think a lot of people can but do you want to or not? I mean Ken was in the apartment crammed with boxes everywhere for a long time. Yeah could you have done it longer probably if you really if you really wanted to if I really did yeah I would have it's just not ideal.
SPEAKER_04:It's not ideal.
SPEAKER_00:No I've even thought about like let's try it you know I have a friend that I could potentially rent a space from kind of the basement of her business that's not doing anything right now. And I'm like that might be a good like trial period to see like I obviously have to pay for that right like in the meantime to do the experiment. But the thing that keeps hanging me up about it is like but then if I decide I don't like it I have to move everything back I don't want to do that.
SPEAKER_04:Oh you know this is what you need to do. Yeah go have a whatnot baby let's go we'll have like whatnot streams 247 and just liquidate I would be like okay yeah and then I would get to thinking about how much more I would make if I just moved it all back and then I would move it all back and then I would have done the thing I was trying to see that's the that's the number 11 problem. Yeah she gets romantic oh I listed it I listed already I'm romantic about the listed value not about uh each each individual yeah yeah or like yeah I don't know anyway we should do that um it is interesting though I think I think between the three of us are I should I I should get a um I know I I know somebody that can build us a barn a barn a barn it's gonna be it needs to be a barn it'd be like a 60 by 40 that's kind of I've already played with the idea 60 by 40. Chase after the right price they built a barn yeah yeah yeah so you could fun yeah 24 2400 square foot ten foot ceilings that's all we need we could put two million worth listed value and at two million at 10% a month that's 200,000 a month um and then at$100 ASP that's two thousand packages so somebody's fine making two thousand dollars a month shipping that's pretty good that's not without the other bonuses that they want to do that's just shipping.
SPEAKER_00:But you know their taxes won't be withheld on those bonuses so it better be paying attention. No I'm just kidding. No I I do think between the three of us though one of us or all three of us together are going to end up scaling at some point.
SPEAKER_04:It's gonna be an interesting manager that knows the ins and outs of warehousing right like have you if they're listening to this episode they're probably like pulling out their hair and screaming at their you know speakers right now because they've got oh my gosh you guys you're not thinking about this.
SPEAKER_00:Yeah so if that's you let us know.
SPEAKER_02:I also think with scaling um thinking about like the long term and the long run you know what I mean like I wonder certain items how long they would last as far as like I don't know longevity of certain items.
SPEAKER_04:Some do need quick flips but some I feel like you can sometimes they go up in value I mean most of the most of the stuff yeah most of them go up in value because they're they're hard to find you know like there's there's only a few stuff that I know mostly women's apparel just lose this value over time because they just make cooler stuff.
SPEAKER_00:Why do you care about that when everything you touch with maybe the exception of a certain Starbucks cup turns to gold like why are you even worried about yeah no Starbucks cups no Starbucks cups yeah exactly uh I guess I'm thinking about that because because on the whatnot side things move so quick yeah so you're you get used to
SPEAKER_02:From like moving so fast, and then the eBay side, you get a great sale, and you're like, hey, you know, I made triple the amount of money, I was stayed patient, it sold within let's say three weeks.
SPEAKER_04:That well, that's why that's why uh the you gotta get big, right? Like that's why the store needs to be so big that at a slow sell-through rate compared to your lifestyle, it's a lot, right?
SPEAKER_00:Like my name's Anna, and I had 12,000 items in my store. Yeah, exactly. Right that was the goal, except yeah, I didn't do it exactly right, but that was why I didn't.
SPEAKER_04:Yeah, you just you just needed the the the listed value and you would have been set.
SPEAKER_00:Yeah.
SPEAKER_04:Right? Like so, so if you think about it, like my ultimate retirement goal is get to a mill, and as soon as the mill, I don't get five percent sell through, fine, you know. That's just sell it all until it's gone. Yeah, yeah. Right? Like because and and then it's not like I'm not gonna shop still, right? Like you're still gonna shop and send it in, you know. But hmm. We need to find a motivated young hustler that that doesn't want to take the risk and wants to go back to uh non-9 to five job.
SPEAKER_00:You need a part-time college student, a graduate student study.
SPEAKER_04:Yeah, we need to uh find a broke college student. Just wants to ship. That wants to ship. That's really good.
SPEAKER_00:They're out there. I was that college student. I worked three jobs all through college. Like somebody else would definitely do a much cushier one part-time job. You know what I mean?
SPEAKER_04:Yeah, yeah, yeah, yeah.
SPEAKER_00:Not that hard to find.
SPEAKER_04:Okay, okay, we got a plan. Okay. All right. Well, for the for the for everybody that's listening, you know, now you know our plan. You can help. You know how to contact us. And um, eBay, you're listening to be the model for the first eBay fulfillment center. So we'll see. Um, shout out to our sponsor, eBay, and make sure you follow him, eBay for sellers on Instagram. And make sure you attend eBay open. Two ways you can attend through virtual, which is 100% free, or in person where you can rub shoulders and meet people and not be isolated in your own.
SPEAKER_00:And come hang out with us in our seller club podcast.
SPEAKER_04:We got a seller club booth, baby, and this booth is gonna be grand.
SPEAKER_00:It is gonna be awesome.
SPEAKER_04:And also, you might, you know, get a chance to record with us because that's gonna be one of our cool things that we're gonna do there. And you shout out to Seller Edger talking about not trying to get in trouble with the law. Make sure you get your bookkeeping right. That's like the IRS of everything is the software that you can use. That way you get to log everything and you can find everything easy. Um, no credit card required. Try it out free for 30 days. And then any last words, Glenn?
SPEAKER_02:I think we're set. We went through all 10, and thank you everybody for listening to this episode. And uh, we will catch you on the next one. Kenny. Peace. See ya.
SPEAKER_00:Bye.