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This Will End Your Reselling Business If Not Addressed
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- čas přidán 29. 11. 2022
- This topic doesn't get talked talked about much, but if not addressed, it will destroy your reselling business.
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I’m just a small seller, but how I finally arrived at eliminating my “death pile“ is when I come back from Sourcing I work on listing those items and I don’t buy anything else until they’re listed. I don’t know if this will help anybody but it is a process that I use so I don’t get the massive death pile.
Thanks for sharing 🙂
It’ll help others that don’t have a whole room as their DP
Great Idea I needed to hear this again, thank you
Your "awareness" of every aspect of your business is something many don't have. Keep being observant. Knowledge is MONEY!!!!
Thank you!
Anything over 90 days I sell similar monthly, change photos price whatever necessary. I started this 3 months ago and old merchandise is selling... great advice💞
Thanks!
When i first started watching you guys a year ago, your business talk confused me, and I skipped past it. Now i look for videos that have business oriented titles. You guys changed me! Thanks for all you guys do!
Pleasure, thanks for the kind note. ❤️
Great video. I'm sure we are all guilty of death piles and still go out because we may "MISS SOMETHING LOL" wow, I have this so so bad. SOOO bad. I believe you were talking to me so, I better get my S together. I needed to hear this. I am STALLING right now which is why I watching this video haha. But, I'm am here to learn also. Thanks for the kick in my tail lol Keep up the good work.
Get after it, a little every day!
I watched this twice. I REALLY needed to hear this. My death pile is HUGE.
Get after it!
One of the biggest challenges is being consistent with listing. One of the things I do is list first thing so I get it out of the way.
👍🏼👍🏼
You are such a good teacher and I always appreciate your content. I have a huge "death pile" because I have been blessed by people giving me so much great stuff to sell. It is a little bit of everything and I work very part time as a "hobby". That being said I still need to follow through and check on my listed inventory of about 200+ items. I do try to end listings and relist items even when I am not listing new items. Keep the content coming!!
Make bundles out of the death piles and get rid of them locally. Increase cashflow, decease mental head space and physical space.
I went through one of my old bins and realized at least a third of the items in the bin that I thought were posted weren't even posted.
Awesome!
You are such a hard working family and so generous with your knowledge
Thank you
Bro you have to post for the algorithm to help move your products. If you have stuff sitting, ebay don't know if your active. They don't want to sell a product if (for instance) a seller is locked up, in the hospital, deceased, etc... Then the buyer would be waiting to get a package (that they wouldn't get). So now it would make ebay look bad. The algorithm doesn't know, but they do know if someone posted an item today, then they would ship tomorrow. (I'm sure you knew this, but it may help others whom is reading this is well). Keep hustling brother! Much Love!
Much love 🙂
Exactly!
eBay actually said listing daily does not matter that responding to messages and questions from buyers is more important
@@Brooks0511 I've been doing this for years and have tested it with a group. It does matter I promise. (Maybe not for auctions, but for fixed prices it does)
@@Buy_Kaspa just being active is what matters not the listings I mean yeah listing things could increase sales because you are putting more items on your store purple want but it does not affect the algorithm just being active does
‘Old listings deserve your attention’.
Wow! You said that right at the end and that has motivated me, to revisit inventory that is not moving.
Great vid, with such a lot of value for me.
Thank You, so much 👍🏾
You’re most welcome!
I agree this part of your business is critical, people think oh " it's an investment" no no no , only thing that investment or a.k.a money pile ,a k.a death pile is collecting.... is DUST! It's not collecting money nor growing in value. It's important to know unless ones death pile consist of bars of gold, true antiques or collecting interest, it's not a true investment., regular average items become less desirable, less trendy and less value and eventually become trash.In rare occasions an old listing from a year ago could've doubled in value. Ultimately it's money wasted or tied up. You explained it so well, finally a reseller who gets it.
👍🏼👍🏼
Just found your channel at the perfect time. After my first $1k weekend, I’m drowning. That’s a good and bad thing. Back at the listing now that the kids are asleep! (Now with a numerical inventory system!)
Awesome! Glad to help. 👍🏼
I'll admit I need to go thru my inventory and see what isn't listed. And I have a large death pile. And I'm trying to get myself to tackle just 1 box or item a day to go thru and take care of completely. Overall it looks like a daunting task, but in small chunks it is manageable. Learning from you guys.
Thanks! It is a daunting task, I’m working on another 200+ items now.
Good work. Don’t get to feeling strangled. Look at it as if it’s a fun mini haul day. Do what you can or want and leave the rest in storage as if it’s still at the store. Your own store sort of
Ugh deathpiles! We take one day every two weeks on a weekend and go through ours. It either gets listed that day or it gets donated. We also run our store of almost 1k listed out of our apartment that also houses 6 kids 😂 we have to keep our death pile small since we have NO storage in this place lol. List every day ! Gotta be active ! Can’t sell it if it’s not listed ! Some days we have time to list 5 items ,others we put out 50 or more. The key is daily listing. Love your vids. Very informational! Can’t wait to grow our store big enough to need a warehouse and employees !! Keep kickin butt!
Thanks! Appreciate the note.
Huge death pile here also. Way overdue on checking inventory for errors etc. It's going to be a great feeling when we are finally caught up and can focus on other aspects of reselling! Nice work!
Thanks! Can’t wait! Working hard daily.
I keep good inventory records. I use a system that works for me. I give everything a sku. Then on my computer I made a spreadsheet. I keep what bin it’s in on there. I have a running written list of what number is in what box and cross it off at sale. (I use to run 1-100 etc in order) I found out that was more work. I go through inventory 2-4 times a year. Add items to boxes with space. Marked with color coded on my spreadsheet if item is not in bins yet. Easy for me to keep better track.
I keep a huge “death pile” or available to list pile. Mostly from items I bought for $1 or less.
For me going thrifting and spending $20-25 on cheap items, is pleasure. The only thing I enjoy doing any more. If I threw them in trash, it still would had been worth the thrill of the hunt. As an almost hoarder ( collector), I don’t often throw things away. If I can use it somehow or sell it, it’s worth keeping.
I have room in my container building to keep a certain amount of stock to sell later. If weather is bad, or I’m having a bad day or any other excuse, I can go get a sack or bin of unlisted items and get to work.
I live in middle of nowhere, so I have to travel to shop. Reduces amount of time I leave the farm. Works for me. I just need a maid and cook. Haha. And more energy. I’m old with many unseen pain. So I have to work around my pain days too.
It’s like I can go get a bag of any size I feel up to doing from storage, and it’s my own mini haul day. My own store. I don’t let it strangle me.
Thanks for sharing 👍🏼❤️
I needed to hear this! yes, we all know about the death pile. Something about hearing you break down the cost of goods as cash sitting around made me get digging into my death pile! THANK YOU!!
You’re most welcome!
Your videos always teach me something! I watch you bc I don’t waste my time, I learn, & I put your ideas into my business. Thank you for keeping us with you along the journey!
Thank you!
Another great video full of information. You seam to always tell us what we need to hear, (but are avoiding). I do an inventory twice a year, but I don't have the unlisted stock accounted for. So because of that, the thrift store sale I usually hit once a month for 50% off was skipped this month. I think my Death Pile can keep me going!!
Keep at it and thank you.
Super helpful idea for starting the new year! In November I did the entire month of no new items purchased for my store, which hovers around 350 items, and it was great to get through my death pile!
Awesome!
Thank you for teaching how to dig deep into the meat and bones of a reselling business and things that go wrong or are overlooked. Awesome video.
Thank you!
Always learning from you! Thank you for the informative videos.
My pleasure!
I cannot imagine how much inventory you have that ends up not listed. I am at around 500 listings and I go through my inventory once a year and find at least 60 things not listed . For who knows what reason.
It’s not good, we are working towards actually doing inventory control.
After watching your video I haven’t sourced in 8 days and just have been listing and shipping everyday out of my death pile.
Went from being behind 26% compared to last month to now being ahead 6% and also found 20 items in my inventory that weren’t listed!
Glad to hear it!
Edin! Your candor and willingness to advise and help is truly extraordinary. Keep being one of the good ones....continued success always follows people who do the right thing. Cheers, Steve (Magic Cardboard Ride)
Thanks!
True, please don’t change & always rem where you came from!
So glad you are back!!
Thanks!
thanks for the video. This is motivating for me to push through some inventory in my death pile.
Get after it!
I am now more motivated to get my business into a new view. Thank you for sharing this video
Same 👍🏼 - thank you for the note.
One of the hardest things for me to do is commit to rephotographing an item. Unfortunately I had to do just that after going through some older listings. Photo's were blurry, off center and the light was off. Great Vid!
Thanks! We are doing another massive batch soon. Must be done.
I understand the cash flow issue. In the beginning inventory was purchased daily and before I knew it I had $6,000 of inventory credit card debt. Every penny of profit had to go to payoff the inventory then finally I was growing my cash. Still spending and purchasing more items than sold each month and store is growing with more listings. Enough cash coming to to pay off all monthly inventory debt and supplies needed to run the business. It just takes a few years. Luckily I do not need the income to pay living expenses. I am just trying to grow my cash account for emergencies or investments,.
Thanks for sharing 🙂
I like your clarity of thought. Subscribed!
Thanks 🙂
Thank you so much for the video! It is motivating to me to get my listings numbered again. Right now I have most of my inventory hanging in 2 closets...which works for me..and others in labeled totes with hard goods on shelves. I used to do the number system but I stopped. I also need to go through my inventory and I like what you said about just start with ONE! I will do that for the new year! I always think I have to stop and do it all...but I can't possibly and still keep with my listing goal. It is small compared to yours but I have consistent sales! I need to up my game for the new year! I really appreciate all the help! =)
Pleasure! Best wishes in the new year!
Thanks for all the tips Adeen!! Love the vlogs!!!!
My pleasure, thank you
Good advice. I'm going to go through my old listings and look with a fresh eye.
👍🏼👍🏼
This is a great eye opening video! Thank you sir.
Pleasure, thank you!
I have had trouble coming up with a business model other than - buy stuff, sell it for at the very LEAST double ( it’s usually 3X-4X). I’d love videos on creating a business model or even a paid video or class. You guys seem to really know what you’re doing, you should do Patreon if you’re not already.
Thanks! Appreciate the kind remarks.
Hi, I love how dedicated you are to your business and helping other resellers. I applaud your success; you guys are great. I need your advice. I am a one-man operation and just getting by. I work out of one room in my house. I have a large amount of saleable inventory and have been renting space to store it for a long time. Storage fees have risen and there is no more room in my house. Renting storage space is now eating up my profit. I want to rent a small warehouse or some warehouse space and put the inventory there, work there and hire some help. I want to run my business like you guys do! I want to expand my business and run it correctly and I need and want hired help, but I don’t know the first thing about how to hire and pay an assistant or a lister, to work in my little business space. I wonder if you could make a video on hiring an onsite assistant to work in the warehouse, what their duties are and how much to pay them. And do you have a dedicated lister that does the whole listing process, or parts of it and do you pay them per hour or per listing and how much. Also, you mentioned a VA, how does that work and their pay? I know a lot of new and old resellers would like to know how to get started with hired help. Thanks
Thank you we will keep your suggestion for future videos. We can’t share how much we pay staff, but we can provide some generalities. Thanks again.
I made the mistake a few years ago on going to the goodwill bins not knowing anything about brands, eBay sell through rate, etc. Saying, "oh its $1.40lb if I get 100lbs of stuff! Not only doing that 1 time, but probably 4 times. So, now I am left with a huge death pile that I am not sure if I should try and list it to try make some money back, if I make any back at all or redonate it? But, I then keep shopping at Goodwill for more stuff and dont get it listed. I just get busy with work and being a mom that Im too tired to list and now my death pile is now a death garage 😣🤣
That’s a problem. Sell it in bulk locally.
Id suggest picking out anything you can make at least $10-20 item and donate the rest. Will cut your pile into 1/4 and still pay for all of it and some profit and take less time. My biggest lesson early with similar problem is not everything is worth selling even if it can sell.
Same, C W!!!!
Depends if you want to be a online seller or not. You need dedicated organized storage at least 1 or 2 rooms if you want to make decent income. The clothes you need to check the sell thru rate to see if they are good. If you plan a large store you'll want a 20% sell thru at least, if small probably a 50 to 100% sell thru every 3 months is appropriate. Otherwise I'd just donate it and have your garage back again.
@@dwfinds3030 That’s heavy……..”Not everything is worth selling even if it can sell”
Thanks for this video it makes me reevaluate my list it and forget it strategy .
Pleasure
My goal for the new year is to have over 1000 items listed in my ebay store before the start of next years garage sales! Thanks for the motivation! My deathpile turned into a death basement.
Get after it!
If only I had a basement. ;( I have a death van and death RV, a hurricane and a very bad Tropical Storm really messed me up. But, I’m on it, now.
@@Flippin_Crazy one at a time
My basement is out of control! I needed to hear this today. Time to dust the stuff off and sell!
I have a death basement as well!!! I’m not proud of it, but I’ve gotta get to work!
Thank you for your timely information I am putting it into practice right now😊😊
Sure thing
Great video again. Very informative re checking that listings have actually been done. Money spent on items not listed is wasted money. Get that deathpile listed everyone.
Thank you
I NEEDED this! Thank you
Glad 🙂
Thank you so much! Really appreciate you
Pleasure 🙂
Thank you for kicking my ass❤️😂
Any time!
Hi thanks my store now has a big cash flow issue. Thanks for your advice ! I can find my desk now and i started sku thank you ! lol i am promoting to try to move stock . I am not buying inventory thanks moving forward . i have new box lights to set up and not keep buying storage solutions lol thanks again have a great week. loving your operation you both are working sooo hard . I remember the back room shoes and pots about a year ago! You moving on and helping us to move forward thanks again
Thank you
love you guys.. but now I feel lazy for watching you and not listing my dead pile
Get after it! We’re doing the same. Thanks for the kind words. 🙂
I have one item in my death pile - a shirt that needs a navy blue dye job to cover a bleach stain that I didn't see at the thrift store. I only source when I run out of the last item to list.
👍🏼👍🏼
Just the pep talk I needed
👍🏼👍🏼
You're a true professional!
Thank you
I appreciate this content very much.. This is my side hustle just started a few months ago to support my daughter's pro athlete expenses I'll be looking for your inventory numbers system.
Here is the link; czcams.com/video/TkOI8LydT_g/video.html
Ouch this one hurt! Another reseller with a huge death pile of all things. The only way to solve the problem is to "get it listed" the right way!
One at a time…
Great informative vid. Thanks
Thank you!
So true. Things years old sit there collecting dust whilst we look at things we want to look at lmao
Indeed
Great ideas. Thank you.
Thanks
Great video!
Thanks
:) Thank you guys as always!!!
Thanks you too!
Very good 👍🏻 Thank you
Thanks
I just rediscovered your channel again ❤
Welcome back ❤️
I have a very large death pile also, I'm an avid collector. I have taken a step back from reselling buy not from collecting and need to get back into my groove of it. The death pile cannot be called a money pile until its listed
Agreed 👍🏼
Great video thank you
Thank you
My problem is that I have a HUGE death pile, and somehow I am still EXTREMELY profitable with lots of cash flow. It would almost be better for me to not be profitable which would then force me to only list my deathpile before acquiring more inventory.
How much money is tied into your death pile?
I think that I have more unlisted inventory than active items on eBay & Mercari. I’ve been doing an inventory audit for my Amazon store (90% books) and delisting ones that are no longer profitable or have too much competition. As I fulfill the orders myself, vice Amazon fulfilled, I can’t compete with the free shipping listings on Amazon. I’ve. Gone through about 50% of the book inventory (~1800 books) and have removed over half of those. I have had some success selling these former Amazon-listed books on whatnot, however….but for lower profit margin.
Thanks for sharing.
Very interesting. I always considered death pile to be stuff that you bought that wont sell or isn't worth selling. Clothing that needs to be updated or ebay unlisted it after awhile is still value eventually. Those brooks ghost Ive sold for 45. If I found those today thrifting it would be win so finding them later I don't like to feel like failure for. Im still early on so probably just not business enough yet. Definitely noticed improvement from early listings to now. I've never set the drop listing by % each week but considering it, always worried it get down to negative but it would keep items moving. Some of those items for $35 would definitely sell at $20 range. I've been accepting a lot more offers, I was trying to hold out for top comps but its little stagnant.
🙂👍🏼
So sweet about your wife ☺️ love that!
She’s the best!
Wow, another great video 📹! I am actually relisting my old inventory to move it out of my house lol! Great timing! We have 6 containers, 4 car garage and basement full of inventory... Next we are going to list it and move a bunch of items wholesale. Garage and the basement need to be empty by Mar of next year, for our addition build to our house 🏠! Should be interesting! No more buying inventory until we sell more than half of it by Mar next year! Have a great weekend ☺! Joe Bee 🐝 from 🇨🇦🍁🇨🇦 Canada!
Good! Thanks Joe!
Containers? Like shipping containers? I have one that I insulated, a/c, heat, lighting, to store items in. One for boxes, tool shed, home storage and extra non-listed stuff. Then a semi trailer of both unlisted items, crafts and personal stuff from moves to sort.
I thought I had a lot!
@@mistyfly2me Lol, by end of next year we will be down to 1 container! Going to wholesale out lots of inventory... threr will be great deals coming in the new year! Looking forward to reducing storage...lol
How do we find you? eBay posh other?
Ah your from Canada. Shipping would be ungodly
Good morning from Schulenburg, Texas 😊 I haven't seen you guys for awhile a lot going on 😔 💔 lost my 90 year old Mom and few months ago our grandsons just 22 years old passed away I have not felt like doing to much, I still sale from my old listing, but I'm gonna try to get back to it . Edin it was nice to see today you inspired me as always and made me smile please say hello to your wife and God bless you and your family ♥
Good morning, we are sorry to hear about your loss. Wishing you the best in grief. ❤️ One listing at a time, it may be a good distraction from life. Cheering for you.
@@hustlinhooks
Thank you so much ♥
@@elsiepowers9787 what a 2022 year you are having Elise. Try taking one day at a time and increase your goal week after week. SO sorry to hear about your losses!!!
@@constancerobinson1377
Thank you so much ♥
2 mos ago my death pile was at least as big as my listed store. I havent sourced for 2 mos and still have a massive death pile.
Keep chipping away!
Great video
Ty
Great tips
Thanks!
Get yourself a tax exempt #, for starters, and save the 6%. Tax is being paid twice on selling the same thing, if you don't.
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Interesting point! Ty
Great vlog
Thanks
Good Topic, good video.
Thank you
Hi guys! Thanks SO much for all you do! Do you fill out all the item specific recommendations in your eBay listings? Also, do you offer 1 day shipping?
Thank you! One day shipping yes. We fill out the specs that make sense for that item.
@@hustlinhooks Thank you SO much!! Happy selling!!
you are looking good!
Thank you!
You mentioned “Hustling Hooks” was your old store, what is the name of your new store? What program/system do you use for your inventory? Curious
Motivates me to be better!
👍🏼👍🏼
GET IT!
👍🏼👍🏼
Hi I have missed you!
❤️
the stock sat there isnt at the amount you paid but at the amount you would sell it for. you dont buy something to sell it at the price you paid but for it profit e.g. 10 items at $77 with a expected profit of $10 per peice is $17.70 sat there on the shelf per peice so $177 not the $77 as stated. the maths is just a idea but i hope you get what i mean. also if the items have been there a long time then you can not reinvest any of that money back in to the business
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Any thoughts that just the price is too high compared to the demand for it? Much quicker to lower the price or promote it. I thought the pics looked fine and represented the item well. Seems crazy to take it down, re-take pics, repost. I mean yes, if the original post looks bad.....or ultimately that gets you the price you are looking for then go ahead (but you also mentioned lowering with the price in reposting.) Lower the price on the old item and move on. Spend the time instead to list new items. (Whatever time you spend reposting old items.....you can't spend on posting new ones.) Either way, thank you for sharing your skill set with the world!
Yes sometimes it’s just a price change, sometimes title, specs, photos. Thank you!
Do you recommend to continue lowering the price on inventory that has been listed for a year or more...at what point, if any, do you just take it down and donate it? I've been trying to keep up with my daily inventory that's expiring on that date and do sell similar, add new photos, change whatever needs to be changed, but it still doesn't seem to be moving much stuff that's old inventory. One of the most valuable things you learn with experience is how to make better buys!
It all depends on what it is. It’s up to you when you want to just toss old inventory. We are still trying to figure this out too.
I update recommends, delist/relist, place on a promotional campaign, and drop price. I need to add and learn sending out offers, optimizing titles, mark down sales, and coupons(?) too, so I'm 4 for 8 on old inventory. And I need to refine my skill at promotional campaigning.
I need some help with my store for sure .
One listing at a time.
So, can you share what you learned about reselling by having a ‘secret’ second store?
It’s no longer secret. Maybe in a future video.
What if you have listings with a few watchers but they haven't gained any interest in a couple months. Do you keep it for the watchers or just start fresh with sell similar?
We don’t touch our listings unless there is a mistake or it’s over a year old. We pay 0 attention to watchers.
I have fr too much in my "death pile". It's unacceptable. I plan to get started on hitting it hard tomorrow (I ain't waitin' until January 1st!). I am also moving towards clothing and shoes. Another thing I am planning to do is purging my own house. We have WAY too much in here that we never use. Love You Two! You are a HUGE inspiration on how to simply get sh!t done. Be well my friends and have a wonderful Christmas Season. Chat with you again soon.
P.S., thank you for the zip bag tip on Instagram. I just placed an order for 500 pieces at a cost of $33. Sounded like a great deal (I hope it was). See Ya!
Thank you!
If you send out offers, does that make the item unavailable for sale until offer is accepted/declined. I’ve noticed that when a sent offer has expired, an item ( sometimes) shows up immediately in the Send Offer queue . I don’t want to sabotage sales by making listing unavailable or hours/days
No, item still remains for sale until offer is accepted.
Hi there,
As I go through unlisted piles. Do we donate old bad buys? Maybe comps were good at one point. For a profit of 10.00 let's say and a year to sell it. What's a girl to do? Thoughts??
Great question. It’s 100% up to you at the end of the day. Make sure to keep records of all items bought to get a credit for your taxes. Some options; make reseller lots and sell them local to get your money back. List low and aggressive to move item or simply donate.
I don’t have a huge death pile, I have around 440 listing and about 15 items not listed yet BUT I was searching for a tiny figurine that I can’t find some some reason and while digging threw all inventory i found like 5 things that were in inventory but not listed! Like what in the actual hell was I doing 😂
👍🏼👍🏼
It’s just something that happens to everyone. It’s an EBAY glitch.
Pretty sure ebay removes poor performing listings sometimes. Also people can buy items and not pay and it doesn't get relisted automatically.
Concerning your “unlisted” items that you thought was listed…do you not list your items to your store or your assistants do that?
We approve all listings, team drafts.
❤️
Did you start a new store? What are the reasons. I've been thinking about a new one.
We wanted a store specifically for clothes and shoes.
Why a new ebay store? Also, do you run multiple stores incase one is ever suspended?
We wanted to study the new store without our followers knowing about it. When you have social media you have a lot of noise around a store on eBay which skews the metrics. Now that we learned our metrics, it’s public.
You say your old store, how did you decide to start a new store? What's the benefits? Is it in the same name or a totally new account?
We wanted to study our metrics without noise in the data from followers off of social media. That’s all.
Will you be offering a 2023 spreadsheet for purchase?
Yes
You talk about an old store and new store. Why did you transfer all items to a new store? Was something wrong with the other store? Do you still run multiple stores?
We started with an everything store that was public. Started a clothes/shoes only to study our metrics without noise from out followers/friends online. Still have both stores.
Rent, employees, virtual assistants, insurance, cogs etc.. Seems like a lot of overhead. Should really look at the books and see where your at with net profit.
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Quick question. Does offering returns help move items? Cause I currently don’t.
Yes it does. Think of the buyer, if they can’t return an item, why would they buy it? Name any other store that doesn’t allow returns.
@@hustlinhooks lol then name a store that doesn’t make you prove the item is damaged and still pays you back for the item.
I didn’t say it’s a perfect system.