This transcript was generated from the episode audio and may contain minor errors.
Welcome to a brand new month. It is December 2021. Thank you for tuning in. If you're listening in the future, that's cool too. But here we are in the holiday season of 2021.
As I'm making this, I want to say thank you for being part of Cytosol School. I want to encourage you as well to take care of yourself during this time. The holidays can be stressful and difficult and overwhelming for some people. And sometimes that's been the case for me in different years. So just in case that's you, I want to encourage you and say just hang in there.
You know, January is on the way. All right, so take care of yourself. Today we're going to talk about reselling with a little bit of a twist. Reselling is a simple enough business. You know, I've talked about it from time to time. It's easy to find something to sell once. Okay,
that's our twist. This is actually really important. It's easy enough to find something to sell once. Anyone can do that today. But for a real money maker, like there's an obvious connection here, for a real money maker, you need a source of products that you can go to over and over. Like is there a magic source of products that you can go to and buy and resell? If so,
today's listener wonders, where is it? Where can you find products to resell over and over? That's what we're talking about. Quick message from our sponsor, and then we'll jump right in. Hey, Chris, this is Tina from Boulder, and I started listening to the show after reading the money tree. I've been experimenting with reselling and it's fun. Last month,
I made a profit of $700 just from visiting thrift stores and an estate sale. But I also don't see it expanding much if I keep doing it this way. I'm constantly selling one off items. It would be much easier to sell the same items over and over, but the problem is I don't know what those would be or where to find them. Aside from what I've been doing, thrift stores, yard sales, the flea markets, how can I find products I could resell over and over? Thanks
for your help. All right, Tina, this is great. If you've been reading the money tree, sounds like you are following a very similar path to what Jake did by visiting those thrift stores and estate sales. Great start for sure. But as you have wisely observed, it would be much better in the long run if you weren't doing this on a one off basis all the time. Okay, so that's certainly
possible as well. And I'm going to give you two ways to do it. I would actually get away from the thrift stores and estate sales. If you're really trying to build this as a business that is somewhat replicable, perhaps a little bit scalable, or at least, you know, allows you to grow beyond where you're at now. So the first way, wherever you're selling, whether it's eBay, Facebook Marketplace, any other platform, do some sleuthing, do a little bit of research, some detective work and see what is selling over and over. Look for items in lots of different categories. So you get
a big picture overview, maybe branch out a little bit from what you've been selling. And once you find something that sells frequently, then start sleuthing out where you can get those items in wholesale. So again, not thrift sales, not estate sales, but somewhere online. And that's pretty easy to do these days, that kind of research and reverse engineering, just by using some basic googling. Now the second thing, that basic googling may take you to Alibaba, or Alibaba Express, or if you just want to go straight there skipping step one, that's possible as well. So Alibaba,
you know, an enormous global marketplace, a massive directory of goods for sale from overseas. And you can get large quantities of pretty much anything you imagine. And so this is the magic source of items for resale. This is where a lot of resellers source their products from. And the reason why you might want to do step one first, or the first way of like doing the research on your platform and seeing what's selling, so that you don't get stuck with a storage unit full of unwanted stuff, like a storage unit of My Little Pony lunch boxes, for example, like you thought they were really cool, but no one wanted to buy them.
Or maybe that was just me. Okay, the point is establish that there is demand, and then go source out the supply. Of course, there's more work to be done, but the process itself is pretty simple. So I hope you're able to go to the next step. Let us know how it goes.
And listeners, if you're trying to go to the next level, if you've got a question, or it's something you're trying to figure out, come to sidehustleschool.com/questions. I'll continue to share them throughout the holiday season. And again, take care of yourself. My name is Chris Guillebeau. You're listening to Side Hustle School.
From the Onward Project.
