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That was the email. Of course I opened it and I read it and it was a very long, in-depth email which normally when I see something that long it’s like, “Oh my gosh, how am I going to read all this?” because you guys know I’m not really that fond of reading that much.
I like to listen but she just explained everything in great detail and it was just awesome to hear how someone that has 4 kids, okay, all really, really young was able to take 100 bucks and turn it into $70,000. Actually, the real number was $73,000. She actually corrected that number as we were doing this interview but I really, really wanted to get her on the podcast because it just goes to show you that you don’t need to start with a ton of money if you don’t have it.
I get a lot of people that say, “Scott, I want to get started but how much money do I need to get started,” and I always say, “As much as you have, as much as you can afford.” I’ve done other interviews with people that turned $65 into $1100 or $1200 by selling stickers. There’s a whole bunch of different ways that you can do. I’ve got people that I’ve interviewed that have sold used books so you just have to figure out a way and that’s what she’s done and she is just a go-getter, you’re going to love her. Her name is Racquel by the way and she is just an awesome, awesome girl. I can relate to her story so much because she’s a family person, she loves her family. She does everything for her family. Her and her husband wanted her to stay home with the kids very, very much like myself and my wife decided to do going back 22 years now since we got married but it really, really is a great story.
[00:02:00] SCOTT: If you are thinking to yourself like, “I just need to wait until I can get to a certain number before I start this thing,” you really need to listen to what she has to say here because she started doing retail arb and online arb and then she’s now transitioned into private labeling and it’s really awesome to hear how she did it. Now, before we jump in here, let me remind you, you can download all of the transcripts and the show notes to this episode by heading over to theamazingseller.com/210. Again that’s theamazingselller.com/210. You can head over there, grab all of the show notes, all of the links. Everything we discuss is right there for you. I’m going to stop talking now guys so you guys can enjoy this interview that I did with Racquel and you can hear exactly how she turned $100 into $73,000 so enjoy the interview.
[00:02:49] SCOTT: Hey Racquel, thank you so much for hanging out with the TAS community. Thank you so much for taking time out of your evening. How’s it going?
[00:02:58] RACQUEL: Yeah, it’s going great. thanks for having me. I appreciate you having me on the show.
[00:03:02] SCOTT: Yeah, I’m really, really excited to have you on and the email that I received from you, I’m looking right at it right now. the title of it was, “Stay at home mum turns $100 into $70,000 plus in sales,” and that really gets anybody’s attention. It sounds great but there was a lot of work to get there, right?
[00:03:18] RACQUEL: Yeah, it didn’t happen overnight or in a few months. I mean it took a couple of years to get there.
[00:03:25] SCOTT: Yeah, so why don’t you do this for me, why don’t you kind of let people know a little bit about you personally but then also kind of like how this journey happened and your why and all that stuff? I’m just going to be like a little fly on the wall listening in and I’ll ask you questions long the way because I’m going to have questions for sure because it’s an interesting story. Can you just lead us through a little bit of the reasoning why you wanted to do this and just a little bit about yourself?
[00:03:53] RACQUEL: Sure, yeah. Okay, so the reasoning why I decided to do any sort of extra income sort of thing is because well, my husband and I both decided early on that we wanted me to stay home with the kids once we started having kids so obviously that came with sacrifice and once the kids started coming I was like, “I’d really love to help but I still want to stay home with the kids.”
[00:04:25] SCOTT: How old were your kids at this time?
[00:04:33] RACQUEL: I had three at the time and my third was just a few months old when I started. She maybe was just I don’t know, maybe four, five months old and then I had like a three and a two year old.
[00:04:46] SCOTT: You’re busy?
[00:04:47] RACQUEL: Yeah, I mean they were little so I was thinking, “How can I help just cover the cost of diapers.” Something small.
[00:04:56] SCOTT: It’s funny because it sounds very similar to our story, my wife and myself. When we started, even going way back, we were dabbling in eBay and we were just trying to find a way to supplement my income because again she wanted to and we wanted to have her stay at home and raise our children. We were always trying to find little ways. The one story I always share with people is we’re seeing that there were things selling on eBay so we found these wooden bridges that were selling and we found them like in the Christmas tree shop and we started selling them. I think we bought like 30 of them and we were able to sell them for like 130 bucks and we were buying them for like $30 and they were selling like crazy and that’s really how we got into that whole understanding the online space and this is going way back but a lot of work. I can totally relate to your story so continue please.
[00:05:44] RACQUEL: Yes, totally I totally relate, exactly. When I’m listening to you I’m like, “That’s like us.” Yes, so then I got started on eBay and just like a friend, I don’t know just shared an eBook about eBay with me and I’m like, “Oh, this sounds like something that I can do.” I just started basically going to thrift stores, buying mugs for like 50 cents, selling them for like 15, 20 bucks. Then we used games, whatever basically I thought that I could sell. That was okay, that was working. I sold some collectables from my grandmother and she gave me a cut off of that. I did a little bit of consignment for people when they heard what I was doing. There just got to be a lot of work like I could only put so many hours in, taking pictures, making a listing for each item. It was just too much.
[00:06:42] SCOTT: Yeah, that’s the tough part with eBay stuff. Don’t get me wrong, it’s great for people especially starting out or trying to see if this is for them but you’re right, especially on eBay, if you buy something and you want to resell it, you got to take your pictures, you got to create your own listing in a sense, with Amazon retail arb, it’s a little easier because you find something that’s brand name you can go ahead and piggyback on that but yeah, you’re right. It’s a job but again you were doing it so you didn’t have to have the job, right?
[00:07:10] RACQUEL: Exactly, so I was working. The margins were awesome for eBay but I could only do so much with the hours that I had. I was a part of the eBay Facebook community and people started talking about Amazon FBA and I’m like, “What is this? I want to check it out,” and it seemed almost too good to be true and I’m like, “Really, you just send stuff in and they do all the hard work for you?” With eBay you’ve got to get everything packaged up like right away and you want to ship it out. For feedback, you want good feedback and that’s really important.
[00:07:54] SCOTT: How long was that you were selling on eBay before you started to dabble in the Amazon space?
[00:07:55] RACQUEL: Maybe about, I want to say six months. About six months. I know it seems like not a very long time but yeah. Well, I started like late 2013 doing eBay then about the beginning of 2014, I sent in my first box to Amazon just doing whatever I had basically that I wasn’t selling on eBay very well. I was like, “Let me just throw it in the Amazon box and see what happens,” and then I kind of forgot about it in away because I got pregnant again and I get really sick in like my first trimester, I get pretty sick almost like I pretty much can’t do a whole lot.
I kind of just forgot about it and I wasn’t doing any eBay stuff during that time either so it all kind of fell by the wayside but then I started getting these emails that Amazon was selling my stuff and I was like, “What? Oh yeah, I sent in that box. This is actually working and then I joined like an FBA newbies group on Facebook and I learned everything I could. While I was sick, I basically just read everything that I could, every post in the group, YouTube videos I watched. I tried to learn as much as possible so when I started feeling better again I just started sourcing and got the little Amazon seller app, went to Wal-Mart, Target, wherever just started scanning everything I could.
[00:09:36] SCOTT: How was that working?
[00:09:39] RACQUEL: That was working, actually pretty good. I saw sales right away and I couldn’t believe. I was like, “Really?” I learned all about BSR right away so I knew I had my little chart with me to make sure I was buying things that would actually sell in a reasonable amount of time and won’t sit for a long time so it was actually working pretty good. I got into groceries a little bit and I actually have a great grocery store buyers and they discount like discontinued items like flavors that they’re discontinuing of certain products or whatever and they’ll discount them pretty deep. It was like a crystal light flavor I think it was that they were selling for super cheap like $1.50 a pack and I was selling four packs of those for $30 to $45 on Amazon, no joke. I mean it was crazy, sold find little things like that that would really get me excited.
In the summer when that minion's movie was coming out, that was a big deal. Well, we had this huge display of like these minion tic tac’s and I was like, “Just for the heck of it, I’m grocery shopping.” I’m just going to scan it because I was addicted to scanning at the time and I was like actually, “I think I can make some money with these,” so I bought like maybe like 20. They were selling three packs so I bought like enough for 20 packs, sent it to see if it would work. I sent them in and they were selling for like 25 bucks. It was crazy, I’m like “are you serious?” I went and I bought tons more. I just went back and bought as much as I could but I literally bought like 100’s of dollars’ worth of tic tacs. I made thousands of dollars on tic tacs.
[00:11:34] SCOTT: That is great.
[00:11:35] RACQUEL: My sister and I joke about how we're like paying for my kids’ college with tic tacs. It was great but the problem was it wasn’t consistent enough. Those things were far and few between and like trying to find things that fit in the middle it was getting harder because I could only go out and source so much, with my kids-
[00:11:55] SCOTT: Yeah, scaling it is the hard thing, right?
[00:11:59] RACQUEL: Exactly, exactly. I was like, “I got to find a different way.” I didn’t really know much about private labeling that much. I knew that people kind of did it but I didn’t know what it entailed. I thought about wholesaling and I’m like, “I just need to get a bunch of stuff at once and figure out how to sell it.” Anyway, the year goes on and I’m still doing retail arbitrage and I have my baby in December. That happened and I’m like sitting in the hospital bed and I’m still checking on my sales and everything like that-
[00:12:35] SCOTT: Swiping your app, right?
[00:12:37] RACQUEL: Yeah. I’m sourcing, I’m doing online arbitrage while I have my baby in my arms.
[00:12:42] SCOTT: That is funny, so you were hardcore into it, right?
[00:12:46] RACQUEL: Yeah because I knew this is something. This can be something. You know, doing like $5,000, $7,000 in sales a month that’s not anything to spit out.
[00:12:58] SCOTT: No, that’s good stuff right there and anybody listening would be happy with that but I think I need to cut in here and say it comes down to though that you were out there hustling though. You’re out there working. You’re not like just hitting like a few things here and there, you’re going out there and you’re finding stuff. You’re consistently doing that. There is probably and I’m just assuming, tell me if I’m wrong but there is probably some stuff that didn’t sell as well that you maybe expected that you had to say, “Well, this might take a little longer. I might sell it fourth quarter but I’m not going to sell it now.” Did that happen too?
[00:13:32] RACQUEL: Yeah, definitely happened and a bunch of sellers getting like when you’re shopping at Wal-Mart everybody’s shopping at Wal-Mart so they’re all buying the same stuff. You think there’s only a few sellers on but once your stuff gets into the web, to the warehouse, everyone else’s are too so then it just takes longer to sell because more sellers means less chance of getting to buy box.
[00:14:02] SCOTT: At that point though, you’re seeing pretty good success and you’re starting to maybe dive into you could wholesale. Because you’re probably thinking like at this point if I can just find something that I can sell over and over again and not have to keep finding the 10 or the 20, you’d really have something there. Is that kind of the thought process?
[00:14:20] RACQUEL: Yes, exactly, it was the thought process. I just started kind of going online and searching for wholesale. What can I buy like are there any websites out there that I can buy something wholesale. Just buy a bunch of one thing. I was kind of doing that and just for like maybe a week and honestly, I stumbled upon this. It was through a junk mail email in my inbox and I don’t even usually open my junk mail but I was like, “Hey, I wonder if this company has anything to sell, for me to sell.”
I was like actually I could get just looking around and going back and forth from Amazon to what this company was offering and I found that Amazon actually, there were some listings up there. Obviously, I’m used to retail arbitrage which means I just kind of jump on other people’s listings and I just slap the label on, “Well I have this too so I can sell it.” These items were all generic so I thought, “Well, this seems generic.” there was no branding on the actual item, on the product so I thought it was safe to do.
Well, I send in the stuff and I get a cease and desist letter and I was like, “Oh no.” I don’t like to do anything black hat. I like to follow the rules so I immediately got my stuff sent back to me and I was like, “I’ve got to figure out how to do this.” Immediately, I actually found your group like right away and I joined it and found your podcast, started listening to it and just being a part of the Facebook community and I learned as much as I could and within a week I had my own listing. I basically packaged all my own items by the way. I wasn’t sourcing from China. I was sourcing from somewhere in the US. Actually anybody has access to this but I don’t know it’s just like a secret, I don’t know but these products were just basically buy in bulk and generic.
[00:16:41] SCOTT: What were you doing, kind of breaking them apart in a sense and making your own bundles?
[00:16:44] RACQUEL: Yeah, exactly, making my own bundles and labeling them myself and just made my own little logo and my husband’s in the architecture field. He’s creative so he helped me make a logo. Yeah, so we just…
[00:17:00] SCOTT: You were buying wholesale stuff in bulk and then breaking them apart and making them in little packs or little bundles?
[00:17:07] RACQUEL: Yeah.
[00:17:08] SCOTT: Then you could set your own price really?
[00:17:10] RACQUEL: Yeah and so there were a few items, a few products on Amazon, I mean it is a niche but it wasn’t very deep and I didn’t really realize this at the time. I really didn’t focus like on depth of market that much which I probably should have but actually in hindsight it’s actually working out really great for me and anyway regardless so I feel like I got a little bit lucky there. I’m offering something that wasn’t offered basically.
[00:17:45] SCOTT: Offering something that’s not offered, even if it’s just a special bundle is something unique, right?
[00:17:49] RACQUEL: Yeah. I was actually looking at reviews of the other products that people had and they were like, “Oh I really wish that you had this.” I was like, “I can do that,” and so I basically just did that and it actually worked out really great.
[00:18:06] SCOTT: That’s a great story and for anybody listening to this, that’s why I was so excited to have you on is because you started really just doing it the old fashioned way if you want to call it that. You’re really out there really hustling, you’re finding stuff and you’re selling it and then you’re now trying to find a way to create your own product in a sense or your own bundles and you did that. You didn’t have to go out there and spend thousands of dollars in inventory to get started. You were kind of just testing the waters by buying this stuff and breaking it apart.
It’s really awesome, I love this story and just for people listening it’s like people always ask me, they're like, “How much do I need to get started to be successful?” The answer is as much as you can spend today. There’s not like a set number that I can say that you need to spend $2,000 or $5,000 to get started. I just interviewed a guy recently who bought a bunch of these popular stickers off of Craigslist. This person was closing them out and he bought like, I forget how many, but he broke them apart and did the same thing and set them in packs. He ended up making about $1,100 in profit from that $65 purchase. I love hearing about this stuff. Keep going, at this point you got these things going, are you still selling that stuff there or did you…?
[00:19:22] RACQUEL: I am.
[00:19:22] SCOTT: Okay, cool.
[00:19:24] RACQUEL: I am actually. I feel like I’m a little slow to change things up. I was very nervous about the whole China thing. I finally have my first China order in production right now which is really exciting.
[00:19:43] SCOTT: Yeah, congrats.
[00:19:43] RACQUEL: Yeah, that’s super exciting so I finally… One of my problems has been I haven’t been able to get brand registered because I don’t have my logo on my products so I’ve been very anxious now to get… I really want to protect my brand and so I’ve been anxious to get my logo on there and actually I don’t have just one product. I have multiple in the same niche.
[00:20:09] SCOTT: Okay, that’s great too.
[00:20:11] RACQUEL: I have multiple SKUs now because I have seen… Actually several are very successful, some I’m testing and are doing okay which is kind of fun actually. I’m having a lot of fun with this.
[00:20:24] SCOTT: Let me ask you this, let’s say for example like you did that wholesale thing where you broke stuff apart and stuff, again did you just again find something that you seen was selling without being packaged or whatever and then you seeing that people were saying that they would want it in these different groups or whatever and then you started to just put that package together and then start selling it? You kind of proved it with selling singly but then you see that if you did bundles that it could sell as well, is that what you did?
[00:20:52] RACQUEL: Yeah, that’s basically what I did. Yeah, then just reading reviews basically of other products in the niche and just kind of being able to meet those demands I guess.
[00:21:11] SCOTT: In those bundles that you’re doing now that new products that you’re sourcing from China, can they be sold with that other one too or is that a completely different market?
[00:21:24] RACQUEL: Yes. It’s not really necessarily a bundle. I would say it’s a multipack but they’re different than each other. I don’t know how to explain without giving the product away.
[00:21:38] SCOTT: That’s fine.
[00:21:40] RACQUEL: It’s a multiproduct-
[00:21:44] SCOTT: But the new product that you’re sourcing from China could be sold alongside these other ones?
[00:21:47] RACQUEL: Oh yes.
[00:21:48] SCOTT: Okay, that’s cool. That’s all I was trying to go towards is that you’re creating something that could then help your other products as well and now you’re piggybacking on off of those. You can actually help each other. It’s like if one costs from about something, they’re going to buy that new product also or they could buy that product that you’re sourcing from China.
[00:22:05] RACQUEL: Yeah, yeah. The product that I’m sourcing from China is actually an improvement on the one product.
[00:22:12] SCOTT: Okay, nice. I like that.
[00:22:17] RACQUEL: Yeah, listening to your podcasts obviously you've encouraged me to do that. To take the next step, go to the next level and yeah competition.
[00:22:29] SCOTT: Reading the reviews is like gold. You’re sitting there, you’re peeking into someone’s business that they’re already buying that certain product and then you’re able to see what people are saying. It’s just crazy to think that years ago, I think going all the way back to when I was working in my father’s company in a construction field, if we knew what our competitors customers were saying what they didn’t like about that company and we had that intel, we could have been that much better, right? It’s like they’re giving us the stuff that we need to put into our products. It’s unbelievable.
[00:23:02] RACQUEL: It is.
[00:23:02] SCOTT: That’s awesome, that’s really cool. Okay, so now, let me just ask you this, let me back up just for a second. You did the wholesale stuff, what did you do to kind of launch that stuff?
[00:23:12] RACQUEL: Okay, well, I’m going to be honest, I didn’t do a whole lot.
[00:23:19] SCOTT: Okay, I like to hear that by the way.
[00:23:21] RACQUEL: Yeah, I basically I did a giveaway if you will a discount of only 10. I only gave a discount for 10, a deep discount for 10 products so that’s it. I then just ran PPC right away and I honestly got onto page one like within the first week. It’s just because there wasn’t the depth of market there in that niche and I was meeting some demand I guess that people really wanted what I was-
[00:24:04] SCOTT: Yeah, well, I think that you didn’t need a ton of sales then to actually be able to get page one. Did you have an idea of how many were selling of those other products that you were hoping to set yourself alongside?
[00:24:15] RACQUEL: Yeah I did have an idea. They only had a BSR of like 30,000 in the category that I was in which is still in like the top five percent. It was still like, “Oh, that’s pretty good,” and I was just thinking that was better than what I was doing with retail arbitrage. I mean it’s consistent, I could count on it, I wasn’t really thinking I need 10 sales a day or 5 sales a say at that point.
[00:24:44] SCOTT: What were you shooting for in your own head like just a couple of sales here and there?
[00:24:49] RACQUEL: Yeah, I thought like 100 bucks a day would be great. That’s what I thought, like 100 bucks.
[00:24:54] SCOTT: I like that number a lot because it makes a lot of sense and it seems like it’s attainable and when you get there you start seeing that you can scale that. Yes, you were just throwing SKUs in and then saying if I could get $100 a day you’d be happy.
[00:25:07] RACQUEL: Yeah and now I’m like over 500 a day.
[00:25:15] SCOTT: Yeah, that’s awesome. That’s incredible. What I really love about that story too is that you weren’t saying I have to get this one product to page one so I can do 10 sales a day. You were basically going and saying, “I’m going to put it into the market place.” You’re at 30,000 BSR. Anybody listening they’re like, depending on the category of course, it’s like 30,000 BSR could be 2 sales every four days it should be and depending on the market, it could be five sales a day. In your case even if you sold one or two a day you would have been happy because again you’re thinking about throwing these other SKUs in there. That’s another reason why I think too the competition was low because people that you’re going up against or people that are doing what we’re doing, they’re not looking at products that are selling two units a day.
[00:26:01] RACQUEL: No.
[00:26:01] SCOTT: They’re going after at least 10 but they’re probably even more towards 30, 40, 50 up to 100 a day in those very competitive markets.
Hey, I had to cut in here real quick. We had a little bit of a technical difficulty and we had to pick back up again. You’re going to notice that Racquel’s audio is a little choppy and a little different, apologize for that but the content is still a killer so stay tuned and just bear with us with the audio, all right.
Well, we had a bit of a technical difficulty but that's okay, we’re back now. Okay, let’s pick up where we were talking about a lot of people, don’t want to go after products that are only doing two sales a day or two sales every two days but that was kind of your strategy where you were like, “I don’t care, I just want to have products that I know can sell in 30,000 BSR.” First, a lot of people don’t want to even look at products like that. For you, you were okay with that though, right?
[00:26:54] RACQUEL: Right, yeah. I was okay with it at the time. Like I said, I was used to retail arbitrage and was like, “That’s a pretty decent BSR. That gets me consistent sales if I can get enough products.”
[00:27:11] SCOTT: Okay, so from that point now and you started thinking about taking your product and making it better, all that stuff and is that where you’re at right now, it’s like where you are in that process?
[00:27:23] RACQUEL: Yes, I’m in that process right now. It’s exciting. I mean China’s making my product right now, got my samples. It’s very exciting to just see it with your logo on it that it’s yours. It’s pretty cool.
[00:27:38] SCOTT: Yeah. We were talking a little bit about brand registry and I do think that’s important for you to do as soon as you can and like you said, you need to have a few different components there to make that happen. One of them is yes, you need to the product with your brand on it. That’s like the number one thing and then secondly they do want to see some form of website.
[00:27:59] RACQUEL: Yeah, I did do that.
[00:28:00] SCOTT: Yeah, it doesn’t have to be a huge website. It just has to be a like a couple two, three pages. All about me page, contact us page and then just a product page.
[00:28:08] RACQUEL: Yeah and I did all of that so once I get my product with my logo on it I could hopefully will be approved quickly.
[00:28:18] SCOTT: At this point now, so let me ask you this, the product that you’re doing is it really to replace one of your other products or…?
[00:28:28] RACQUEL: I would like it to.
[00:28:29] SCOTT: Okay. My question is, are you going to start a brand new listing or are you creating that as a variation?
[00:28:36] RACQUEL: I would like to start it as a variation. That would be the smart way to go. I keep my rank and all of that.
[00:28:47] SCOTT: That’s why we’re saying as long as it is the same or similar then you can just let the one variation run out and then the other one will pop in and then now all of a sudden those reviews stay housed underneath that listing, you keep your rank, all that good stuff.
[00:29:00] RACQUEL: Yeah, that was my plan.
[00:29:02] SCOTT: Yeah, that’s good, it’s a good plan. How far off are you from that right now?
[00:29:08] RACQUEL: About two weeks, two weeks from them shipping it to me.
[00:29:18] SCOTT: Once you get that product in, what are you going to do? Anything different or are you just going to basically fulfill it through that one listing and then see what happens?
[00:29:28] RACQUEL: Yeah, that’s basically what I’m going to do. I’m going to fulfill it through that one listing and see what happens.
[00:29:32] SCOTT: Are you going to run some pay per click?
[00:29:35] RACQUEL: Oh, yeah, definitely I’ll continue. I’m still running pay per click for all of my SKUs and yeah, it’s doing pretty good. I’ll definitely keep running pay per click and I probably won’t do any give away because I won’t need to. I still have the same reviews and everything that I already have. Nothing, there’s going to be very minor changes. It’s just minor tweaks.
[00:30:04] SCOTT: Yeah and I’m just reading part of your email here too just I want to make sure we covered everything but you basically said that you started this thing with like 100 bucks.
[00:30:17] RACQUEL: Yes, I did.
[00:30:19] SCOTT: And with that 100 bucks when you first started to where you are now, like you said here and I’m reading this right here, “Your sales skyrocketed in the fourth quarter and in total with your retail arb and your private label, you’re over $70,000 in sales.”
[00:30:34] RACQUEL: Yeah, 73.
[00:30:36] SCOTT: 73, is that what it was? You had 70 grand in sales. A third of it is profit you had and you said that you’re so pumped, I would be too and no debt either, you said?
[00:30:46] RACQUEL: No debt.
[00:30:48] SCOTT: It feels awesome. That’s a great story. Let’s talk just a little bit about your plan. What is your plan moving forward? What’s your short term and maybe a little bit of a longer term goal in this?
[00:31:05] RACQUEL: Yeah, so well, my husband and I have been talking about this because he’s pretty excited too for me and he helps me a lot. We talk all the time about it. He is a good encouragement for me and he is always helping me with ideas. Yeah, we were talking and I guess my most popular sellers, my plan is to get China to do them all, like my biggest sellers because I have about three that are my big sellers and so I’d really love for China to be able to get my supplier to do all of them. It’s the capital that it takes a lot, just got to make sure I can keep everything going. That’s my goal for the year. My long term goal would be… You talk about the why. Why are we doing this, right? We got a lot of kids. We have four kids we got to put through college. My husband does love his job so he’s not considering leaving his job or anything. It wasn’t really to replace his income it was meant for extra. Yeah, pay for college I’d love to actually pay off our house before I’m 35 which would be really exciting.
[00:32:37] SCOTT: That’d be awesome yeah.
[00:32:38] RACQUEL: Yeah. Honestly, our biggest goal in life like when we look at what do we really want out of life and it’s really to give like no one else. We want to be able to see needs and meet them. That’s our ultimate goal in the end with all of this.
[00:33:01] SCOTT: I love it. I resonate a lot with you and your husband and your story. It’s very similar to mine and my wife. Our main goal… I didn’t have a job that I loved so I can’t really resonate with that part of it but I do know people that have jobs that they actually got that they actually love and that’s great because you want to do what you love as long as for me, personally, that you can still have that time with your family. What are you doing it all for? For me personally it’s to be able to spend time. I just got home, literally just got in the door from a baseball game with my son. I didn’t miss it. I was there with my wife, my other daughter and my father who’s visiting. It’s like that’s what I did because I wanted to and I could.
That’s the stuff to me that’s so important and I know just from listening to your story, I know that family is everything and you’ve got kids and the part about giving. My wife and I have both talked about this. We would love to take whatever we can in the future and start to give more, you know what I mean? When you can give and you can do it without worrying about taking away from just your security. It all comes down… Like you said, you want to pay of your house. Why do you want to pay your house off? For security so you don’t have to worry about that one burden and then that’s going to free up more stuff that you can actually do good things with.
It’s not saying you just want to do and build a bigger house and buy three boats and three cars and all that stuff and if you did that’s fine, you want to do that but me personally, like I’d rather just live comfortably, enjoy life and enjoy my family and all that stuff and I think it sounds very similar to your story. Any advice for anyone out there that’s thinking to themselves, “I’m just not sure if this is really going to work for me. I’m not really sure. I don’t have a ton of money to start with.” what would you say to someone and you may even get people that ask you this because they know what you’re doing now. What do you say to that person?
[00:35:05] RACQUEL: Well, I actually helped a friend actually get started. She was a little nervous basically. She just started like someone that you interviewed just recently actually was talking about getting started with books. She had very limited start up. She just started with books selling on Amazon, just going to like book sales with the library. Once you start, once you start seeing the sales come in, you will not want to stop. I mean honestly it’s the truth. Just start. Like you say, just take action, just a little baby step and I think once you see those sales start coming in, you are going to want to keep going and keep going. Yeah, just get started, just do one small step.
[00:35:58] SCOTT: Yeah I think one small step and like you said whether it’s starting with books, right or starting with those wooden bridges I found and resold. Just find something and just start getting yourself immersed into the process and then you’re going to learn along the way. I guarantee everything that you’ve done hasn’t been successful, right?
[00:36:19] RACQUEL: No.
[00:36:19] SCOTT: There’s been ups and down, right?
[00:36:22] RACQUEL: Definitely, yeah. Well, the whole cease and desist letter, that was pretty scary. Definitely not everything will sell and not everything works out but that’s okay, you just keep going and move on to the next thing and keep pushing forward.
[00:36:38] SCOTT: Yeah and let me ask you quickly too about this because we didn’t really touch on that but like I’m sure because you’re in retail arb too, like fourth quarter was like the big thing, right, that’s kind of when you make all your sales. That’s awesome for people but I also think then you’re always banking on fourth quarter. Are you looking to then to just have like more two of a steady year and then have a little bit of a high in fourth quarter but not really banking on it?
[00:37:02] RACQUEL: Yeah, definitely. The whole goal was to have consistent sales throughout the year and enjoying that little bump in fourth quarter but like you can’t predict. With retail arbitrage it was just way too hard to predict and I wanted to be able to have something I could count on for my family and not just feel like, “Oh hey, we have something extra this month.”
[00:37:25] SCOTT: Yeah, so for people listening here is a woman who has a huge amount of responsibility, has kids, a husband, a family and here she is doing it and doing very well and started with 100 bucks so I just have to put it out there when people tell me they’re just going to wait until they get x amount of dollars to start to, it’s like to me it's really an excuse because you’re just kind of afraid that it might not work. It’s one of those things like, “I’m going to start but I’m going to wait until I get this.’ It’s kind of an excuse until you get to that point. You might never get to that point but it’s an excuse to why you’re really not going to start because you want to make sure that you’re protected in a sense, right? But really you have nothing to lose other than the 100 bucks or 500 bucks or whatever it is, right?
[00:38:17] RACQUEL: Yeah exactly.
[00:38:19] SCOTT: Let me just ask you this, for retail arb, do you still think that there’s a place for people to get started there in retail arb, if they wanted to or online arb even thrifting or any of that stuff? Do you still think that there’s money to be made there?
[00:38:30] RACQUEL: I definitely do. I mean obviously competition is always growing in that space, even in private labeling and I think.. I still think there’s tons of room. I really do. Like my friend, she did really well fourth quarter. I was so proud of her, just getting started in the book. She started in October and she was doing thousands in sales in December and I was just so proud of her. She just kept going and she just went out sourcing and if you have the drive, you can do anything.
[00:39:10] SCOTT: That’s awesome. We will cut it right there because I think that you’ve given us a ton of inspiration. You’ve given us also the overarching “you can do this if you want to” and that’s really what I wanted for people to get out of this and to really just bring you on and say congratulations on all your success and I really do appreciate you sharing that with me and then with everyone that is listening to the podcast. I do definitely want to do a follow up with you though because you’re going, I can tell you’re going in that direction and you got your head down and you’re moving so I know that this year will be a pretty cool update for myself and for others. I just want to again publicly here just congratulations. I’m so happy for you and your family.
[00:39:59] RACQUEL: Thank you very much and I just have to say to you, I know you get it all the time but thank you for all of the free information that you’ve put out there. I mean it has just helped me tremendously through this whole process, really encouraged me to take that step with China and I just appreciate it so much. I know so many people do and thank you.
[00:40:22] SCOTT: Yeah, no problem and I love hearing that and when I hear that it makes me again feel as though what I’m doing is making a difference and if it is then I keep doing it. I really do want to put more good into the world and if this is something I can do in a small way I’ll continue to do it. I appreciate that, it does make me feel good and feel as though what I’m doing is making a difference so I appreciate that. Yeah, that’s going to pretty much wrap it up. I’m going to let you go and hopefully you can go get some rest or get some quiet time without the kids because I know with little ones that can become pretty hard to do.
[00:40:56] RACQUEL: It’s true.
[00:40:59] SCOTT: Once again I just want to say thank you so much. I totally appreciate it and yeah, keep me posted and if there is anything I can do for you please let me know.
[00:41:07] RACQUEL: Yeah, will do. Thank you so much for having me Scott, I really appreciate it.
[00:41:11] SCOTT: Take care.
[00:41:12] RACQUEL: Thanks, all right, bye, bye.
[00:41:15] SCOTT: Okay, so there you have it. What an awesome story. I’m so glad that Racquel agreed to come on and I learned a ton. I actually learned that you can go out her right now, and I knew this but you can go out there right now with very, very little money as long as you have some hustle in you and you want to go do some retail arb. You heard how she did it, right? She was buying wholesale stuff and then just breaking it apart and making her own bundles and everything. It just goes to show you that if you have the motivation and if you have, not even necessarily the skill set but just the willingness to want to go out there and work a little bit to get started, you can learn the system.
Now that she’s been through it and she’s learnt the system and she made over $73,000 in the process, she’s now private labeling. Again, I just want to say thank you so much to Racquel for coming on and sharing that amazing story and hopefully you guys have been inspired also that you’ve learned something along the way, more importantly just that you just don’t have to start with a certain number. You don’t have to start with a certain number as far as money goes, right? You can start with whatever you have, just get started, all right. You guys have all heard me say that about taking action and just starting? This is a perfect case right here of going out there and taking it with what you’ve got and turning it into a few extra dollars and then from there just keep scaling and really, really great story.
Once again I want to remind you guys that the show notes to this episode are at theamazingseller.com/210 and again you can get the entire transcripts, the entire transcript is over there for you if you want to read them over there, if you want to download them over there or if you want to just have the show notes, you want to check those out, all the links that we discussed are in there as well so I would invite you to go over there. If you guys could do me a quick favor, if you guys are finding this content that I’m delivering on this podcast valuable, if you think that you want to share this with other people, then go ahead and do that. Share it on Facebook, maybe go to iTunes. Leave a review if you think that it’s worthy of a review, whether it’s good or bad, go over and do that. Let other people know about the podcast and that’s really all I ask in return and that would be amazing.
[00:43:23] SCOTT: One last thing I want to remind you, if you’re brand new and you’re just dipping your toe in the water, I would love to invite you to a workshop that I do where I’ll walk you through the five phases to picking a product, all the way to launching your product and everything in between. We’re going to also do live Q&A and if you want to register for that and you want to hang out with me for an evening, you can head over to theamazingseller.com/workshop and you can register for an upcoming workshop there.
Again, we give downloads there, some checklists, some templates that you can use for sources, all of that stuff is there on that live workshop and I would love for you to attend and we have a great time over there. We give out some prizes as well and just a lot of fun and I like hanging out live there on those workshops with everyone. We do live Q&A there too so if you have any questions you can ask them there and that would be awesome.
That’s it guys, that’s going to wrap it up. Remember, I’m here for you, I believe in you and I’m rooting for you but you have to, you have to, come on, say it with me, say it loud, say it proud, Take action. Have an awesome amazing day and I’ll see you right back here on the next episode.
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