3 Big Changes for My Reselling Business
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- čas přidán 27. 06. 2024
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0:00 My Reselling Business Looks Very Different Now
1:34 Why I Like Vendoo!
3:00 (Thing #1) Realistic Expectations
6:19 (Thing #2) Crosslisting
8:11 (Things #3) Balance is Key!
#thrifting #ebay #poshmark #reselling #joshkim #thriftstore #thriftwithme #clothing reselling - Jak na to + styl
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I’ve been phasing out my full time business for about a year….at first it was not intentional. I also lost the love for it and it became a major source for anxiety and financial issues. I really appreciate your video today!
Appreciate you watching! I think it’s a common thing a lot of people struggle with when they try to scale this business to a full-time venture. It turned into a huge source of anxiety for me as well. My break away from reselling was what I needed before getting back into it without all the mental stress involved. I really wish the best for you and I know you’ll be able to figure out your next steps!
Oh wow, I started February 2017. Alot has changed, I've changed and continue to find what I value different than just finding items to resell. Great seeing you more often Josh. I'm sure I'm not he only one that missed you.
Good to hear from you as well, Sonny! Haha makes sense that we started around the same time. I feel like we've been connected through the reselling community forever now!
@@Josh-Kim you’re an OG 👌🏼
I totally burned myself out with reselling by overdoing it when I already have a FT job because I loved the extra money coming in. I noticed that I started prioritizing reselling over my health/wellness. I have a new puppy now and that forced me to put reselling on the back burner and am now looking at it much differently now as I slowly get back into it.
It's too easy to start letting those other priorities slip. It's a slippery slope once you start ignoring your health and wellbeing. Once you experience burn out, it really changes your perspective on things! I'm glad to hear that you're slowly getting back into.
Thank you so much for the vulnerability, but also being really real because I felt the same way how you did and now getting back on the right path and doing it at my own pace. Stay humble and kind!
Means a lot. Appreciate the comment!
You know, this video is really a "life changes" video. I appreciate your point of view-it reminds me that the life i am living today is not the same as just a year ago and that my expectations of myself need to change too! Thanks Josh!
That's a great way to put it. Life is always changing, and that's completely normal! Appreciate the comment and thanks so much for watching!
Glad you have found your balance along with added health and happiness. Very few haven’t been hit with the “realities” of reselling and similar ventures. Hard to warn someone new and enthusiastic also but you did well here. You can totally be successful but manage expectations and consider yourself and family first and let this all stay where it belongs as support to that
100%! There are people who are crushing it out there as full-time resellers or even part-time sellers basically making a full-time income on the side. It's all about making sure that whatever you decide to do is sustainable in the long-term. Appreciate the comment and thanks for watching!
Great to see you back reselling. Something that has helped me curb burnout is to set time limits to what I do when working. For example, if I have 2 hours of extra time to work, I get a stopwatch (on my phone, any stop watch works) and start the watch as soon as I start getting to work. If i get distracted or need to step away from work to do something else, I stop the watch. Once Im back, I start it again. Once the time hits 2 hours, I stop what I'm doing and consider that a days work done.
Its a lot more satisfying and rewarding to focus on the time working than the "result" so to speak. If in those 2 hours I only get 3 listings done, but I fix a bunch of listings in my store, wash clothes to list the next day, and photograph clothes to be listed the next day, I consider that as equally successful as if I did 15 listing another day. This keeps me from feeling guilty about not working, because in those 2 hours, I am maximally focused. Once Im done with that, I dont feel bad about relaxing or watching shows because I know I did what I could in the time I had to spare.
Thanks for watching! Appreciate the comment. Time blocking like that is a great idea!
Great Job explaining the levels you went through! Reselling can consume you for sure! Enjoy your life!
Appreciate it! Yess it's too easy to let it take over too much mental real estate. Thanks for watching!
keep up the great work Josh! Love when your videos pop up. Don't burn yourself out. Good to see you
Appreciate that. Thanks for watching! 😄
I have to admit, as a single person, one thing that sort of bothers me is viewing resellers on CZcams who boast about how they make a living reselling, and then as a sort of afterthought, mention their spouse or partner, who also earns income at their own job. Supporting yourself--BY yourself--is a lot more of a challenge than sharing the responsibility with someone else.
Hot take but yeah in my opinion you’re a full time reseller if you’re making enough income to live off of it yourself even if you have spouse income / don’t have a 9-5
The health insurance aspect is a big part of it, having healthcare through a partner/spouse is so much cheaper even if your state has a good healthcare exchange.
I believe this is the case for any single person who supports themselves through self employment or a commissioned job. When I worked in the mortgage business, it was never recognized that I was a single mother achieving high goals at work as well as handling everything else. Out of the 20 some people who would be in the presidents club each year, I was the only single person. Now I transfer that same drive to my reselling business.
@@joytoyouandme4593 I think it's often not appreciated how difficult it is for single people to manage all the responsibilities of their life by themselves. There's no division of labor where one person handles certain chores--you have to do it all, earning a living, managing a home, etc.
@@mayakoyama9130 I'm fortunate that my regular job has very inexpensive health care insurance. Here's a question: do resellers who store large inventories in their homes purchase extra insurance to cover those items in case of loss?
Good video Josh, you're doing fine. You have a different mindset as well now. Keep it going and God bless.
Appreciate it! Thanks for the kind comment and for watching the video 😊
Time is your most valuable asset. You can never scale stepping over dollars to save dimes.
If that means you need a part time job in the beginning then you do the job until the money is there.
Much like a job you need to make a basic amount per hour or it’s just not worth trading your time for it
For sure! 100% agree that time is our most valuable asset
Hey Josh does Vendo delist the other listings on the other platforms when you sell an item? Keep at it man! I like how your prioritize your health
Hey. Yes! Vendoo has a sale detector that auto-delists from your other platforms. It does require you to have your computer/browser open for the auto-delist to work though. So if I'm out and about, I open up Vendoo on my phone and de-list through the app. The app has a "delist all" button for detected sales, so it's pretty quick to do if I'm not on my computer.
Thank you for your response! I will try the platform out. ebay has been very slow for me so I’m moving items over to Poshmark and Mercari. I’m excited to see how it works for me
great video Josh!
i watched till the end
Means a lot! Thank you!
Appreciate you sharing your experiences Josh . Myself i put myself under part time reselling bracket . I live with my mum i pay bills and everything but if i were to have my own place i would have to up the level im selling to cover a lot more costs. Great vid buddy keep doing what makes you happy and comfortable. 😊
At the end of the day, we’re all resellers 😄 Appreciate you watching!!
Good video. What camera do you use? I've been using Hero9 for my videos and it isn't capturing as much light as yours does in your garage.
Appreciate you watching! I use a GoPro 10 when I'm out thrifting or if there's good lighting. For this video in my garage/basement I have a Sony ZV-1. I've been using the Sony ZV-1 for a few years and it's been a great camera for CZcams!
Hi, Josh. Thank you for your insight! This business is always changing. Don’t sneeze because you might miss something!😁 Question, what is the box size that holds your inventory? I use Costco bin now. Thank you in advance!
The inventory boxes I use are size 20x8x6. Appreciate you watching!
@@Josh-Kim Thank you!🙏🏻
I'm full time right now (quit my job and currently doing a complete declutter of my house which has to be done before I get myself a new job) and the screen time involved with reselling is so intense and can really affect you mentally if you aren't careful!
I turned off all sounds for my phone notifications because it was so distracting listening to the dinging all day long. I was constantly checking my phone every time I heard the sound and I feel like it's almost like a psychological addiction with how these apps are pulling us in all day long!
Yesss the screen time really is intense! Those notifications are never ending if you don’t set those boundaries. That’s smart to turn off those notifications. Wishing you the best with the full-time reselling. You got this!
It definitely cant be mentally taxing brother..I just recently did the opposite and went from a Full Time job, back to being self employed..Though I do Doordash and some other side hustles, I'm gearing to take on being back as a Full Time Reseller and expand into something I said I would never get into and that is clothes. I got to meet the Vendoo Rep at the Nashville Reseller Meetup and its on my radar. I have only sold primary on EBAY since 98' then occasionally on FB. So with me getting into clothes, Poshmark & Mercari are apps I want to start expanding too. Keep Crushing It!! Stay HUMBLE, Stay HUNGRY, Stay FOCUSED...~The Jarhead Entrepreneur
Things are always changing, and I think that’s part of life! That’s awesome news to hear. I know you’re going to crush it as you scale your business up and do this full-time!!!
The people at Vendoo are great. Definitely consider using Vendoo if you’re going to be crosslisting to other selling platforms!
It sucks but I think alot of people have to do two jobs these days. I would rather work hard when Im young so later I can live like no one else. Even if I have to source or list after my 9-5 job. Investing and working hard on this business hoping I can have more to invest or maybe one day replace my current job.
The 9-5 job is great, but its hard to be able to invest enough just with that to for example retire early or even have enough for retirement.
For sure! There are so many variables that are unique to each person, so definitely understand that there's no "one-size fits all" approach when it comes to money. Appreciate the thoughtful comment and thanks for watching!
Great video like always. Just curious, as a part time reseller how many listings do you do per day? I know you mentioned about sourcing 20-25 items a week, does that mean you try to list approximately 3 items a day? Please let me know.
Yup! I try to list everything that I'm thrifting. I do have a small death pile, but I reserve that for weeks that I don't go sourcing. I try to list about 2-4 items a day if I'm being consistent. Admittedly, there are days I list zero and I make it up by listing a little bit more on another day lol
Josh, what are your thoughts on those "vintage" lots of massively reduced wholesale mixed clothing, meant for resellers? I remember couple years back you had a vid of an unboxing of one. For someone that is super far away from any decent sourcing locations, do we think these wholesale lots are a sub-par-yet-ok way of getting in inventory, or nah?
I think it could make sense for someone that is in a location that doesn't have great sourcing opportunities. Definitely lots of opportunities to source online and have the items shipped to your doorstep. The profit margins are much thinner but possible to build a reselling business doing it that way. From my experience buying in bulk, I've been able to break even quickly from a few great items from the lot, and then slowly profit over the course of 2-3 years from the not-so-great items that were included.
Also the wholesalers I've bought from in the past knew that I was opening them on camera for CZcams, so I wouldn't be surprised if they sent me better items in their boxes lol. Something else to also keep in mind!
Do you have a seller account (not to be too nosey, just wondering if you changed that this time around?) I'm thinking of getting rid of mine and being more selective in what I list and only use whatever Ebay gives to non-seller accounts. Thanks for your videos. I enjoy your content.
Thanks for watching! And not nosey at all! I downgraded to a Starter Store, the lowest tier one that's like $8/month. If I get closer to 300 active listings, I'll probably upgrade to a Basic Store. I've gotten so used to using the seller dashboard, that I'll at a minimum pay for the Starter Store level.
❤🎉
Appreciate you watching! 😄
Does vendoo take down the sold items from other sites?
If your browser is open, it’ll auto-delist for you. If you’re away from the computer though, they have an auto sale detector. And you can go into the Vendoo app on your phone and hit “delist all” to take down the listing from the other sites.
@@Josh-Kim so if I just leave my browser open it will automatically delist?
@@tooalienforearth5638 yup! it’ll work if the extension is running in the background 👍
Great video. Once the best things when the concept of sell-through rate clicked on for me. Do more with less.
100%! Thinking about selling through rate when sourcing is a game changer 😄 Thanks for watching!
bro you are to emotional just go snd have fun