Click Here to Download Transcript <<
…getting unstuck or maybe just figuring out a way to create some capital or earn some capital, some money so you can start your own private label business or just get started in general. To kind of get your feet wet and not have to go out there and spend thousands upon thousands of dollars to get started.
So what I wanted to do is I wanted to create a follow up and I wanted to give you an action plan to actually go out there, get unstuck, make your first $500 by next week. And this is no hype, this is legit. I’m going to actually walk you through how you can do it. This is something that I have actually done in the past and I’m going to share with you right now how you can do it. It still works; it’s still current, it’s still happening. All right? And you guys are going to say, “Well Scott, all right everybody knows that.” But are you doing it is my question. I’m going to kind of get into that in a minute here. I also created a video walkthrough about an eight minute video of walking through how to actually reverse engineer this process in a sense. So I’m going to give you that as well. The show notes to this episode is theamazingseller.com/312 and you can go grab all show notes.
The links you’re going to probably want to on this one plus there is a video there for you to watch of me where I’m actually walking you through this process and I kind of identify three opportunities. So I wanted to do that because I wanted it to be even a visual more so than just here on the audio. I’m going to try to explain it the best I can here on audio but I did want to be able to show you a little bit of a walkthrough. I know some of you may be saying, “Scott you know I’ve been listening to your podcast for a lot.
[00:02:01] Scott: You’ve helped me and I’ve gotten started. I am selling product, I might even be doing $25,000 or $100,000 a month. Does this even pertain to me?” And the answer is yes, because I still think like this and there’s ways that we can still use what I’m going to share with you whether you’re selling $100,000 a month or you’re selling $0 a month. It’s still again, it’s an asset. I talked about this in my episode 300 where I went through my entire journey. This was part of that journey and for what you guys are probably thinking is now, “Well what is it Scott? What are you talking about?” What I’m talking about is actually flipping your own product that you have currently in your possession like right now.
You already have things. I identified three products on my desk and actually that’s in the video, where I walk you through and I show you how I can sell them on eBay for like $20 bucks a piece. Literally I can take those three items, list them up. I already know that they’re selling, already know that they sold and that’s what I’ll show you. But what I really want to do though is walk you through five steps. And this is actionable. And what I mean by that is this is actually stuff you can do tomorrow. You do not have to wait. You don’t have to contact a supplier. You don’t have to worry about samples. You don’t have to worry about any of that stuff right now.
Now I’m not saying you don’t want to do that because you probably do because you’re listening to the podcast and you want to have your own physical product. I get it. But a lot of you are just stuck and you’re sitting there thinking to yourself, “I want to do this but I’m afraid of launching a dud product.” Or, “I want to have a little bit more capital before I do this.” You just have all these excuses because that’s what they are to me and some of them are legit. Okay I get it. But I lot of you, and this is kind of step one are thinking to themselves like, “I got to go out there and figure out how I’m going to get time and money and all that stuff.” So, that’s what we’re really going to talk about though. Is these five steps. I’m going to break them down for you. I’m not sure how long this episode is going to be.
[00:03:58] Scott: It might not be that long, it doesn’t really need to be but it’s going to be actionable. I’m going to walk you through those five steps so this way here you can actually go out there and go, “Okay, Scott said this, Scott said that,” and you’re going to do each one. If you do that I want you to also come back and I want you to report back to me and tell how much money you earned. So email me. You can do it at two different locations. You can go to the show notes page and you can always comment there or just go to Scott@theamazingseller.com and I would love to hear your story once you get done here. Now before we do jump into these five steps and how you’re going to go out there and make an extra $500 or more, before I do that, I did want to remind you.
If you’re listening to this episode, right now, it should be airing on January 25th 2017. I can’t believe I just got that right, because I’m always saying 2016 still. But we’re actually in 2017. Now depending on when you’re listening to this, this may pertain, it may not but today is actually the day that we’re opening up 50 spots to our beta group to our 1K Fast Track. And this here is what I’m going to be sharing here but actually more than that. It’s actually where we’re going to show you through this 1K Fast Track, we’re going to take 50 people through this process. I say we, it’s me and Dom Sugar and Chris Schaffer and we’re actually get you started doing retail arbitrage so this way here you can buy low and sell high.
This is for people that just want to get unstuck as well and then start building up more of a steady flow of income by doing this here or this business model. Again so this way you don’t have to worry about going out there and spending thousands of dollars on your first batch on inventory if you don’t want to go down that road yet. I say yet because we’re going to graduate you from the 1K Fast Track to then where you know the process. You know how to do all of the listing and the optimization. You know all that stuff because you’re kind of going through the process and you’re starting to learn and understand.
[00:06:00] Scott: Even though you might not be creating your own listing, you are learning through the process and to me it’s another asset that you’ll have in your back pocket. So again, if you’re interested in that, today is the day. Those spots may be already gone even on the 25th I’m pretty sure it’s going to get filled pretty quickly but you can always head over to 1Kfasttrack.com and get the latest details there. Or you can get on the early list or the notification list there for when we open up another group. Which we may or may not.
We’re going to take 50 people through this process and we’re going to work with them and we’re going to see how this whole things works and we’re going to learn through that process as well. So if you’re interested, 1Kfasttrack.com, go there, get on the list or sign up. Do whatever you can over on that page or at least go there and see what this whole thing is all about. Alright guys, so let’s jump into five steps to get unstuck and make your first $500 by next week. And I know that sounds hype-y but it’s true. Here is the deal. Lets jump right into it. Action steps.
Number one. Step one. Stop making excuses. Stop making excuses. Really listen to that one. You may even want to write that thing down. Put it on a post it note and put it on your computer. Trust me, I know about making excuses. I do it myself, I’ve done it, I continue to do it sometimes and I catch myself doing it and it’s a lot of times because we don’t want to take the action because we’re afraid we will not succeed and if we don’t succeed, then we feel like a failure. Does that ring true?
Have you felt like that? Because I’ve felt like that. Again, it’s kind of like you’re sabotaging your own path because you don’t want to make yourself out to be a failure. I get it, right. But understand you have to take action and do something. Today I’m going to show you how you can do like tomorrow or right now if you want to. A lot of the excuses are, “I don’t have any time, I don’t have any money, I don’t have any computer skills…” Throw all that stuff out of the window because they are excuses.
[00:08:01] Scott: There’s people right now who have more on their plate than you do and they’re still finding time to build their side business or side hustle as Nick said. So don’t use time as an excuse. We all have 24 hours. We can figure out a way to get an extra hour or two in a day. We can. You might have to sacrifice a little bit of sleep for a month but if you want it bad enough you can get it and I believe that if we can get you moving, if we can get you taking action in some way you will start to get results and then, we’ll get momentum. If you guys have not read The Compound Effect, you guys hear me talk about this a lot, it’s a great book, you should definitely read it.
I read it probably every three months and it talks a lot about MO that is momentum. Once you get that on your side there’s no stopping you. Then the money thing, there’s no money. Well you don’t need any money for what I’m going to talk about today. You need zero money. It’s going to be with what you already have. And then, computer skills? If you can login your email account you can do this and I think all of you can. So that’s step one, stop making excuses. Period.
Step two, we’re going to go out and we’re going to clean out our garage or our attic or our basement or our storage shed or a closet. You may have kids, you may not, if you have kids, you’re sitting on a gold mine. I can promise you that. If you don’t have kids, maybe your brother or sister has kids. Offer to go over and clean out their garage. How many times do they go over to the Salvation Army once a year? I know we go once a year to clear out for what’s coming in for the holidays and birthdays.
We always do that. Now, moving forward, I’m probably going to do exactly what I’m talking about because once you get to a certain level, you say to yourself, “I don’t want to do, it’s just easier to bring it over there, I don’t want to be bothered with it.” But there’s people out there that are out there that they would love to take that off your hands for a small fee. So you could technically advertise that on Craigslist, you can do all kinds of things. We even got to talk about Craigslist right now. What I’m going to talk about specifically is eBay. eBay is still working, it’s still great and again I did a short video which I think you should all go watch because it shows exactly how I found the products that I already had on eBay and it showed me how much they are selling for and it showed me that they actually sold.
[00:10:10] Scott: So it’s not like what are people listing them for because a lot of people will do that. They will go to eBay, and they will go, “Okay, someone listed them for $29.99, I guess that’s what I should charge.” No, you want to know what they’ve sold for in the past and you can definitely easily do that and I’ll talk about that in a minute. Step two, when you allocate that time, let’s say it’s an hour, let’s say it’s two hours or maybe it’s on the weekend, do a deep dive clean. Clean out your garage, your attic, your basement, your storage shed, whatever you have that you’re collecting things or even in your kid’s room. Maybe you have to just gut your kid’s room and just do an audit and say, “What do they use, what don’t they use?”
Then start pulling that stuff out. You’ll be amazed. Or maybe you were a collector years ago of old records and now you don’t listen to the old records anymore. Well, guess what? They’re worth money, whether they are worth five bucks a piece or 100 bucks a piece you just don’t know. But you can find out by just taking that time and then going over and checking that stuff out. Which is step three.
So step three now is, you’ve got everything compiled, you’ve got everything into a pile, not a pile, but you want to have it stacked neatly and you can go ahead and now take that stuff and go over to eBay. Now you can use an app on your phone or you can just go to your desktop computer. I used my desktop computer and I did exactly that. I’m going to show you that in the video if you go over to the amazingseller.com/312 and you’ll see exactly what I did with the three products that I found literally on my desk. I was getting ready to shoot that video and I was like, “What can I use as an example?
Oh, here, I’ll use this, oh I’ll use this, oh I’ll use this,” and it turned out that probably around 60 bucks, 55 or 60 bucks for those three items that I could get like tomorrow and I’ve already proven it because I’ve seen like they’ve already sold not just one but a few. So again that’s how you can do that.
[00:11:58] Scott: So step 3 is to visit eBay, check the prices and check the closed listings, the sold listings not just the closed. The sold listings, you can look at ones that have closed and then you can look at ones that have sold. All you do is when you do your typical search, let’s say I was searching for, I had a coffee mug that looks like a guitar amplifier because you guys know that I like guitar, at least a lot of you long time listeners know that I’m a guitar player. I was in a heavy metal band when I was 16 through 18 and then after that we played around that as well. I’m big into that stuff so my wife got me a mug, a coffee mug this year. It’s a big one though.
It’s a big coffee mug. I don’t even drink coffee out of it. I use it for more like pens and stuff. But it looks like a half stack, it looks like a… Anybody that plays guitar you know what I’m talking about. It’s a cabinet and then with a head on it. It looks pretty cool. I said, let me go ahead and look at that so what you do on that is let’s say that I was searching for that and the name of it is amped like an amplifier? So I just typed in ‘amped coffee mug’ and up came ones that were listed. So that’s cool but now I want to see if any sold. So then what I did is that I went up to the advanced tab inside of eBay and then I just checked one little box that said ‘sold listings’. Then I checked that and then immediately refreshed and it showed me that in the past, I think it was two or three weeks, three have sold and they sold anywhere from…
Well one of them sold for like nine bucks but that’s because it looked like it was listed for $23.95 but then someone may have put in like an offer and they accepted it. But the other two sold for over $20, one was $28 and one was $20. So I’m going to say 20 bucks. But anyway, so that’s how you do that. You go to the advanced tab and then you do that. Now from there, once you figure out what your stuff is worth, maybe create a little spreadsheet in a Google doc and then list everything and you’re going to be surprised. Some of you may be sitting on a few thousand dollars. Most of us are at least sitting on I would say 500 bucks.
[00:14:02] Scott: Honestly, unless you are one of those people that just constantly just cleans out their house and just donates the stuff and just gets rid of it, unless that’s you, maybe not but most people have that. And if not, you probably have friends or family that are more than happy for you to clean out their garage or their attic or a spot that they have already maybe sorted but they haven’t taken it to the Salvation Army yet or whatever. Take it off their hands. Again this is a way for you to make some cash fast. This is the way, yes it’s not fancy, yes it’s not sexy but it works. I want to go back a little bit in time because I started back… I don’t even know the year, but it’s been probably seven, eight, nine years, it might even be 10 years.
But my wife and I, we found these wooden bridges, and I told the story a few times, I told it on episode 300 but we found these wooden bridges and they were selling on eBay and they were selling for like 130, 140 bucks, we found them for 25 bucks. We bought a whole bunch of them. Now that’s like retail arbitrage, that’s something that we’ll be talking about like in the 1K Fast Track in that group but for right now just understanding like I took those bridges and I just sold them. I bought them, brought them home, listed them, sold them. We made a good chunk of money from those. We made a few thousand dollars. We went in and we bought like 25, 30 different ones. Now, again we’re talking about stuff that you have in your house that you can list. You don’t even have to go outside of your home if you don’t want to and the stuff is there.
It is there waiting for you to list it. That’s all it’s waiting for. It’s just waiting for you to list it. The fees as far as eBay goes is, again you could list it pretty cheaply but then from there you’re going to get charged a percentage of what it sells for which again it’s very comparable to Amazon. I’m not sure what the rate is today. I probably should ask my good friend Dom Sugar on that and he’ll probably be able to tell me because he still sells a lot of inventory on eBay.
[00:16:02] Scott: And again a lot of people say eBay is dead. That’s one of his channels, he has, I think the last time he told me he’s got a lot of money in inventory there and he sells every single day through a lot of that inventory. So again it’s another channel but here we’re talking about just taking the stuff that you already have. If you’re sitting there scratching your head, ‘I don’t know if I want to do this, I don’t…’, then do this. At least if this at the end of the day, you’re going to learn how to list something on eBay and then you’re also going to learn about that whole process. Then you’re also going to make money in that same exercise.
That’s that momentum that we get going and now you can say to yourself, “Okay I’m not just standing still, I’m actually doing something and I’m earning some cash.” Who doesn’t want to earn a little bit of cash? That would feel pretty good. I know the first time that I sold something on eBay, it was the very first thing that I ever sold it was a piece of software that was for a Windows machine and a Mac machine where you could actually run a Mac on, no you could run Windows on a Mac. Because I started with a Windows and then I converted it to a Mac and then they had something that… What was the name of that software? I’m trying to think what that was, it was like, a parallel. Parallel that was the name.
I think I spend 150 bucks on it or something. So if I had any programs that were on Windows I could then port them over to the Mac and I can kind of use Windows on a Mac. I know for any Mac lovers out there who hate that idea but I had to do it, I had some documents that I needed to open and edit and that type of stuff. But I was done using it, didn’t really need it anymore and I sold my Windows machine and then the Mac that I had, I really didn’t need that anymore so I basically just sold that software back on eBay. And I said I’m just going to throw it out there, I’ve never sold anything on eBay, and within like… I think we did bidding, we did where we put it out there for like 25 bucks. We started getting bids. We’d have one bid and like three bids and then 10 bids and it was kind of exciting and I was like, ‘ Holy crap, this is awesome!”
[00:18:01] Scott: Then my wife called me… I think we sold it for like 75 bucks. Something like that. So I was like Holy crap, I had this thing and I think I was going to put it in like my closet and forget about it or just discard it but it was 75 bucks. So that kind of got my interest as far as this online space and that was gone years ago that was when we were still running our photography business full time and everything. But again, going into eBay, again just kind of proving that concept. I’m not selling you on the eBay model which I think that’s a model on itself and if you talk to Nick Loper, he’ll tell you a lot of his guests on there have been very successful just using eBay but it’s another channel. I did and I shared this story on episode 300 where I took again a problem that I was having, I found a solution, I bought it and then I’d seen that I could, this was in my video transfer business where I was able to then start building a video transfer device and it was from old projectors that I was modifying and then from there cleaning them up and making them work, making them do this job and I was able to take…
I think I spend maybe a 100 bucks to build the machine and I would sell it from anywheres between $800 and $900. And I did that right on eBay too. So again I’m a believer in eBay, I know it works, I’ve sold my CDs on there for Photoshop templates, I’ve been proven that eBay still is a channel but for you guys, if you guys only want to sell on Amazon, I get it, but if you want to earn some cash, this is what you can do, like literally this weekend if you just buckle down and say, ” I’m going to do what Scott said, I’m going to do it just to experiment, let me see what can happen.”
You’re not going to really be out anything other than a little bit of time and a little bit to list your items on eBay, which depending on how you will do it, if you’re going to do buy it now or if you’re going to do an auction style. I personally like the buy it now because that’s how I buy but you can do the auction if you want to, it’s just you’re going to start it at a price that you’re okay with and then it’s going to drag it out a little bit.
[00:20:06] Scott: I’d rather buy something out there with the buy it now and boom someone buys it. You made a sale, cool, done. Wipe your hands off it, move on to the next. The downfall with eBay and this whole model here, this quick little challenge for you is you have to actually ship the items out. Not a big deal, it’s a little of work but I think you and I both know we can do it. It’s no big deal. We all have phones, we can take pictures. So I know now people are going to say, “But then I got to take pictures?” Yeah, take a couple of pictures. Big deal. You’ve got a phone, you can upload them right through your phone. It’s so easy but it’s going to take you a little bit of time. But this is much better than if you’re doing nothing and if you’re stuck and saying, “I don’t know if I can do this whole private label thing right now.
I’m just nervous, I’m scared or I don’t have the capital.” This is what you can do. My goal in 2017 is to get you moving. That is the goal. And then to earn a little bit of cash to prove to you that this business model, this online physical products world is real, it’s legit. But you have to get started, you’ve got to get your feet wet. So I definitely want you to run through this. Please give it a shot you have nothing to lose.
Step number four. You’re going to have to create an eBay account, you’re going to have to create a little PayPal account. Again guys it’s super easy, I think everybody probably already has a PayPal account but if you don’t, PayPal account super easy, you’re going to have to put the listing up on eBay, again just look at someone else’s listing and see how they formatted it. They almost walk you through the entire process when you are building it. Again, take a few pictures, write a basic listing, it doesn’t have to be anything fancy. The main thing is just using the keywords of that product. So if you’re selling a coffee mug, an amped coffee mug, you’re going to want to put that in the title because that’s what people are maybe searching for because it’s a popular brand.
So use that, just like you would in Amazon, you want to put the keywords that you’re trying to be found for in the title. Okay? Then I like buying now, so I would do a buy now but if you want to do auction, you can. Maybe even auction with also an option of a buy it now.
[00:22:04] Scott: You can do that as well. So that’s step four. Create an eBay account, you’ve got to have a PayPal account so you can collect the money and then listing it on eBay. Again, a basic listing. No big deal. So that’s step four. And then step 5, communicate with people that are asking questions on eBay because you’re going to have questions. “Oh does this thing come in the box?” Yes or no? “How old is the unit?” It’s a year old. It’s still in the box, new. But you should put that in your listing if it is. So you may have some of these questions. It’s very important that you communicate with these people. Again, they are people like you and I that they want to buy it but they just have a question.
So then answer that question. And then you have to ship the products. So that’s step five. Communicate and ship products. And that’s it. That’s all you have to do. That is it! Now I’m going to give you some product ideas that if you have lying around that you should definitely list these. I actually asked my good friend Dom, he’s actually in Disney World right now. I reached out to him through Skype and I go, “Hey I’m going to do this blog post and I would have loved to have you on but could you give me some product ideas of things that if they are laying around in people’s houses that they should definitely list or definitely look into?” And he said, “Okay, cool.” And he send me over a whole list.
So I’m going to give you those right now and also like a said, I’m going to include all of this stuff on the show notes page which will be the amazingseller.com/312 and you can grab all this stuff over there. Like I said, I want you guys to just challenge yourself to do this and I think you will be amazed, you will be surprised and I want you guys to let me know how it went. I want to know, how much money did you generate from the stuff that was just sitting around your house? So just email me, Scott@theamazingseller.com or just go ahead and leave a blog comment. Would love to see that here and just would love to hear from you. So here’s some product ideas. So if these are lying around your house, these are things to list.
[00:24:01] Scott: Now, it doesn’t have to be just this, it could be other things this is just again just some ideas so you can go, “Oh wow, I’ve got that, cool I’m going to list that.” So here we go. We’ve got board games, old board games, believe it or not, very popular. My wife was looking for a popular board game and I forget the name of it, what it was but it was a game that she had when she was a kid, and she bought it, it was used, it had all the pieces but it was a little weathered. I think she paid like 50 bucks for this board game because she just wanted it. Because she played it as a kid, they didn’t have it in the stores anymore, so board games. Big, big industry, whether they are new or old but definitely board games.
Books. Old books or just newer books maybe that you are not reading anymore, I’m sure you have books that you’re not reading or are maybe never going to read and you just have them in a box. Shirts. What I mean by shirts is like tees, some old tees. If you have T-shirts of old rock concerts or maybe it is a Windows versus Mac T-shirt or maybe it’s just a Mac T-shirt or maybe it’s a Windows T-shirt or maybe it is a certain fishing one, it’s a collectable, who knows? But whatever you have, there’s probably someone out there that’s looking for that. Again look at your shirts, your T-shirts. Tools. A lot of people don’t realize but tools sell for a lot of money. I’ve seen people go out there to a garage sale, find an old timer that had an awesome old workshop with some old tools and they sell for a lot of money on eBay.
And even if it doesn’t sell for a lot of money on eBay, let’s just say you have a hammer that’s left over that you want to sell and you get 10 or 15 bucks for it? It’s 10 or 15 bucks that’s in your pocket and it’s not in your garage. So toys, another huge industry and I think we could just have a whole list on toys? But in that same market like Legos. If you find any Legos or if your kids have Legos and you have a complete set, which sometimes is hard but maybe you have a Lego set that you’ve never even let your kids take out of the package yet because they had five other ones and you were like, “You know what?
[00:26:01] Scott: I don’t want you to make them all mixed up.” Then you forgot about it, it’s up in the closet you’ve got a whole brand new set of Legos. Or maybe you have a Legos that just has all the pieces, those things sell. So again in that toy market, huge. Video games, again, people out there are looking for video games, they are looking for older video games and again I don’t want to sound old right now but if you had an old Atari, if you had an old ColecoVision, okay, I just sounded old. So if you have those, those are definitely worth some money. It doesn’t have to be either like it’s worth this thousand dollar thing, it could be worth just 50 bucks or a 100 bucks. But if it’s just sitting in your closet or a box, list it.
So I’m going to just rip through the rest of this. So we have video games, DVDs, consumer electronics, Apple products, old cell phones, iPads, jewelry, music instruments, name brand clothing and shoes, licensed apparel NFL, NLB, NBA, NHL, retro stuff, old ractis like I said, records, vintage clothing, pop culture, reference stuff, old baseball, football cards, all of that stuff. You know as well as I do you have stuff laying around in your house right now, so what is holding you back to just going compiling it, putting it into an area sorting through it, doing a little bit of research on eBay and then take the top ones that you think that are selling and then start from there and work yourself down. That’s it.
So you’re just going to compile a list of what you have, look and see how much they are selling for and then how often they are selling for and then start with the ones that you know are sure wins and then work yourself down the list and then just put it out there. Now you have inventory in eBay and then you’re going to start to see these things sell, I can almost guarantee it. So that’s what I would do. So there’s your five steps, there’s your action steps. So there is nothing right now that you can’t do that I just didn’t give you. You don’t need any tools, you need eBay, you need a little bit of time to go sort, that is it.
[00:28:01] Scott: That’s all you need. That is it. So there is nothing holding you back. No excuses. No excuses 2017, let’s do it. Let’s do this, all right? So that’s going to wrap up this whole five step go out there and find some product that you can sell today that’s in your house. Again, I want you guys to report back to me, I want you to email me, I do, Scott@theamazingseller.com. Let me know how this went. I would love to share a few of your stories with the audience and who knows? Maybe we can even do like a little prize here or something. Maybe I’ll have a prize for the people that email me and then I’ll do like the top three that went out there and massively took action. Maybe I’ll do something special for you guys.
So do it, just submit them to me and you may win something really amazing. Maybe a T-shirt, maybe something bigger than a T-shirt. I don’t even know right now. I’ll just make something up but it will be awesome and we’ll definitely hook you guys up. So definitely do that. So the show notes at the amazingseller.com/312 again that video walkthrough is there for you to see how I actually went through and seen all the sold items for things that I had in my possession, go check that out and as always guys keep being awesome and remember that I am here for you and 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, I’m trying to do it here in this episode and that is, I’m trying to do what? Get you to take action. All right guys, that’s it, that’s going to wrap it up, have an awesome amazing day. Get out there, clean those attics, those basements and everything else that you have that you can do it, maybe it’s even in the trunk of your car. I don’t know, get out there and do it and I’ll see you guys here on the next episode. Take care.
Click Here to Download Transcript <<