131–140 of 203 posts
Canada Post has been taking 5 or 6 weeks to deliver items from China that are shipped with free shipping.
So, I'll buy 10x what I need from China when I need a part, then sell the rest on Ebay. Paying attention to things that I can ship cheaply (i.e. Lots of buyer will pay extra to get their spare part in 3-5 days instead of 3-5 weeks.
Christmas time will be especially good to me :)
Earlier quoted context omitted.
His high salary was $150k. You can still make millions without taking it out in the form of a salary. If he owns the company and the value of his equity increases into the millions, then he’s making millions. It sounded like he was reinvesting the money back into the business too. It’s probably a smarter use of profits if he has predictable margins that scale.
No recurring revenue, no actual customers, no secret sauce. Maybe some proprietary data models, but doesn't really sound like it. So what would it be that someone was hypothetically paying for if they were to buy him out? The blog following and sales classes probably are the key IP worth paying for.
The reinvestment is for something better than a juiced up valuation. He’s likely parlaying his profit into more inventory or scaling the team that he will profit from. Reinvestment isn’t always about selling the company.
Title should read: 28 year old used to make millions buying from Walmart, selling on Amazon; because he certainly will have to live with competition and reduced margins from now on.
Not really. The company I work for has a similar setup; we bid on wholesale lots from the same places that Big Lots and other wholesale-to-retail outfits buy from. We flip those items both in our storefront and on eBay and Amazon. We don't do FBA but that's because we have a huge warehouse and competent shipping staff at our disposal. We clear enough for 10 competitive salaries and a comfortable income for the owners…
If you honestly think this is sustainable, you are mistaken.
You are lucky to have done well all these years, but as more people get smarter, bye bye margins.( Same thing in every business.)
More and more people will get into this space.
Sure, you may be able to survive because you geta volume discount on shipping, but that's all dependent on you sourcing the product that these new people will be doing because all it takes is a smartphone and dream....
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Well and of course free sometimes begs "so what's the catch" In which case very cheap sometimes works. Like, "I'm not looking to make money but help me cover gas and venue rental"
Not in this case. I live in a town with a high unemployment rate and lots of homeless. I am newly off the street and would like to help people in dire straights. They don't have money to spare.
Problem is, I don't want to work with repacking stuff, or managing others repacking stuff. I want to build amazing software, and for that I need a larger company who can market my inventions and talk about it on conferences and road shows. I will earn less, but I will be happy.
Earlier quoted context omitted.
No recurring revenue, no actual customers, no secret sauce. Maybe some proprietary data models, but doesn't really sound like it. So what would it be that someone was hypothetically paying for if they were to buy him out? The blog following and sales classes probably are the key IP worth paying for.
He’s pretty honest about that in the article, anyone can do it; he wants them to; and he’s spending his personal time trying to convince others to. The reinvestment is for something better than a juiced up valuation. He’s likely parlaying his profit into more inventory or scaling the team that he will profit from. Reinvestment isn’t always about selling the company.
Earlier quoted context omitted.
Not in this case. I live in a town with a high unemployment rate and lots of homeless. I am newly off the street and would like to help people in dire straights. They don't have money to spare.
Hire them into your business. Teach them the ropes. Then turn them loose with some seed money.
I sometimes recommended them to online friends who had just lost a job or whatever, but they didn't get it. They didn't see what I saw.
So, I started a blog to try to explain how to make it work for you:
I also have a longstanding homeless site:
http://sandiegohomelesssurvivalguide.blogspot.com
I created flyers:
http://sandiegohomelesssurvivalguide.blogspot.com/2017/10/sp...
A couple of people I know socially are interested and have given me some useful feedback. I updated the flyers and one website because of the feedback I got.
I think I need to make local contacts and establish trust. Maybe do some volunteer work. I am not sure.
I would like to start here, but also actively encourage people to get into things like Etsy. There is good internet service in this town. But, I think they just need to get the word that it can be done. Remote work and gig work seems to be kind of big city, cosmopolitan culture. This is an area that historically did a lot of logging and fishing.
There is interest in, for example, IT related meetups. But nothing seems to actually be happening.
My friend does exactly this between IKEA and Ebay. Here in Australia, IKEA does not ship (not sure if they do else where) so she buys a heap of items at the Ikea stores and flips them online. She's been doing it for years and does pretty well at it. Here in Australia, IKEA stores are few and far between so her arbitrage is a huge value add for a lot of her customers since IKEA cannot (won't?) ship and traveling X KM'…
Many brands are "gating" their products on Amazon so only select resellers can sell them on Amazon. For example, the article mentions LEGO--restricted. You need to show Amazon proof that you purchased your products from a credible distributor in order to list your LEGO products. Receipts from Walmart are not enough.