Really, there should be a disclaimer on every ReSelling post that I write. It would read something like this: "whatever you do, don't follow this business model as it appears to change every few weeks."
So the negative thing about it changing every few weeks or months is that I'm probably not very inspiring to people. Readers want to come here, learn a tried and true method, possibly follow it and hopefully become successful and make money on that method.
The positive thing about it changing every few wees/months is that it is your business and that you can change it every day if you wish. I wouldn't advise every day but you have the freedom to change it. You can shake it up, change it, start all over again, pause it, go into speaking like a pirate for the day or simply sit back and eat cake while things sell. You are empowered to do what you wish as a ReSeller.
Here's how I arrived at today. I began listing like crazy in January because our main salary could have ended at any moment. I worked long days and nights, completely obsessed with ReSelling.
February arrived and I kept at it. All my hard work paid off though because money was starting to flow into my bank account. At one point I had $11,000, all from ReSelling.
March arrived and I was starting to get tired.
April arrived and I was done with ReSelling, done with annoying customers, done with inventory that took over my house and was tired of the hard work.
May arrived and with possible changes ahead I've been left to analyze every part of our life.
I didn't even know that I was going to post today until these words flashed into my mind "I'm beyond the $10 sale."
What does that mean?
I go through cycles in ReSelling that sort of go like this. I begin to buy inventory. I start to sell inventory (anywhere from $10-$400 for an item). I buy more inventory. I sell more inventory. Inventory begins to take over the house since I never can keep up with the amount I buy vs the amount I list. Inventory gets moved out to the garage in order to get a clear head. The simple word inventory becomes annoying until I reach the point where I need a break. Then I start this cycle over again after I've had a good long break.
Is that familiar to anyone?
One thought that I do have every time this happens is to stop buying the small items that will only sell for $10.00. I want to go well beyond the $10 sale. I want to be the $50 & $100 sale. I especially would love to be in the $50,000 range.
So what's my main problem? I have a hard time leaving any money on the table and that includes the 50¢ mug that I can ReSell for $10. I also can't resist vintage items to ReSell in Little Shop, Etsy or the Flea Market.
I talked about this problem in my post Saving Vintage.
The issue for this type of buying is that I'll never, ever catch up. Not only will I be forever behind, but my office, house and garage becomes so full of stuff that it will actually prevent me from working. That's where I am at right now. I go into my office and my feet become stuck in molasses as I try to think about what to do with the vintage item that I am holding in my hands. I'm spending so much time moving inventory around, that it leaves little time to ReSell.
The only solution for me at this time is to buy less and focus more on items that I can ReSell for a large price.
My example of the day is the silkscreen print at the top of this post. I purchased this from an estate sale last week. The receipt in the back of the framed print said that it originally sold for $750. This was my first clue that it might be worth something. After researching the artist I realized that he is quite collectible. Here's an item (not really sure what it is) that sold for $4000 at Christie's Auction House.
This small piece of art that I picked up is an example of what I want to be buying and definitely what I want to be selling.
I have always had huge dreams. Yesterday I mentioned a house that I recently found on Craigslist that is for sale. It's so far beyond my house budget yet in my mind it is not inconceivable. I may not ever buy a million dollar house but to me the important thing is to believe that I can. That belief in your dreams and wishes (more about this on Dream Share next Tuesday) is what helps them come true. Not many people achieve their dreams by negatively believing that nothing good ever happens to them. We achieve them by dreaming beyond our wishes.
I'm a pretty positive person but I don't think I can get that house selling $10 mugs on eBay. This doesn't mean that I won't sell $10 items but I'm going to leave them behind at sales for now. I'm also going to try to sell or trade my current low end inventory with other local ReSellers that are interested (contact me if this might be you). Again part of my issue is that I have enough inventory to fill a U-Haul truck and that's probably too much for one little ReSeller.
My first task is clearing out the small inventory. The second task is putting aside items that might have high value and taking them to an auction house in San Francisco. I want my items to be in the hands of high paying collectors. I realize fees can be huge at auction houses but so can the selling price of items. The third task this week is to buy inventory that fits into my new ReSelling model. The last task is (if you are interested) to share this new model with all of you during the next six months.
What do you think?