Are YOU Really a Business Owner? - Ep. 18
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- Опубликовано: 28 июн 2024
- As a society we are trained at a young age to enter the workforce and work for other people. Becoming an entrepreneur is not something that is encouraged for the most part. People become entrepreneurs with the wrong mindset, usually a workers mindset and are very unprepared for the ups and downs of running your own business. In this episode, we go into this topic among many others.
Let us know your thoughts down below....
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@FlippinAintEasy @BeardedPicker @TheJoshGalt
I greatly appreciate that you spoke about gratitude today! I could not agree more! I read posts about so much hate for eBay and customers and it blows my mind. I am so incredibly grateful to eBay and other platforms for doing what they do, and I communicate that to them, whenever I need to interact. I appreciate my buyers and they KNOW it! Without eBay and buyers, we couldn't do this!!
The gratitude mindset works in every aspect of our lives. It isn't 100%, every minute, but that's life. I have found, however, that when I keep in that mindset, things just FLOW! Gratitude & Consistency are key here! So, again, THANK Y'ALL for keeping things positively focused! It helps us all! (New subscriber but catching up on your podcasts, love to listen to podcasts like yours when taking pics or packing, etc., just love it!)
Ive been having above average sales velocity by:
1. Listing every day. Performance roughly parallels listing activity.
2. Running a new daily 17% off coupon on my entire store.
3. Sending a flat 22% off offer to all buyers IMMEDIATELY.
All of my items are easlily replaceable so im happy to take up to 30% off offers and churn the money quickly while maintaining an average 45% net profit margin.
Be over active and over aggressive and the algorithm will notice.
Nice Show you are the best!
I have got too many bad buyers on eBay recently. I was so frustrated I closed my store. I got lots of BS returns, mostly buyer falsely claiming that my products were defective….which they certainly were not defective. I’m taking the whole summer off. I’m not even sure I will reopen the store. I also see the same products that I sell, they sell well for other sellers. eBay doesn’t sell them for me, and I’ve been trying to figure this out for years. My price on eBay is $14 less expensive and eBay still gives sales to other sellers. I have the exact same products. What I have learned is the deck is stacked against you, and you tubers don’t tell you this. You learn this from experience and years and years of selling on eBay, like I did.
I 100% understand how you feel and why you did this.
33:58 Walmarts and other stores theft rate is also a huge factor. Average return and theft rate for us on eBay is so small in comparison
Continuing Education is a hateful thought from past experience. 33 years of teaching were overlorded by administrations from national, state, and local levels that a professor thought what they wrote in their doctoral thesis these teachers should apply in their classrooms. In practical application almost zero applied to what I was teaching! When I needed a better way to teach a student how to play clarinet or how to design marching band shows, the administrators were pushing learning the psychology of the 8th grade mind or some other inane objective that had nothing to do with accomplishing my job.
So when Scott, Josh, and Jon say hey we need to read and learn these business techniques I am hesitant. But yes, these books and testimonials from experienced resellers are 100 times more applicable to my little business than any school continuing education ever was.
Good Show Dudes!
I buy a bunch of things on Ebay now and I have had really good experiences. I have had a couple bad ones but I just wont shop from that vendor again.
For people that hate listing daily, spend one day every 2 weeks and schedule out listings. This way you always have daily newness and dont habe to list daily physically though you are listing daily with scheduled listings. Im west coast so I list 5 items at 3am PST. East coast is 6am and gives all the folks who wake up and get on eBay something new. You do need to get a good inventory listed at 1st but then maintain it with newness. Again, this benefits niche stores with a following more than the thrift/garage sale sell everything stores.
Or just hire a VA. That’s what I do. I take the pics and they draft my listings for around 50 cents each. I just launch a bunch everyday until I run out
Listing daily benefits stores with a following more than the "post whatever" stores. It give your following something new to come to your store and look at daily and also look at your other items. If you are in a niche it is more valuable to help grow a following. Im at 902+ followers in under 2.5 years. 22% of sales are repeat customers. And I habe a few guys who check my store out religiously for what is new 👍🏼
This is a really good point.
Counterpoint I have a lot of followers because of YT, so there is a exception. But, I see and agree with your point.
@@BeardedPicker Yea that's different. Most of us have no youtube presence. Im 100% pure followers besides my mom 😉
Everything sellers cannot comprehend the power of repeat, loyal customers.
@@paulcarlcards9050 I don't think this is accurate. Just because it is not a factor in the sales of an everything seller, does not mean they don't comprehend the power.
I 100% dont agree with you about listing daily. All you gotta do is look at the data ebay gives you, on days you dont list your listing impressions tank, less eyeballs on your items equals less sales. End of April i decided to list everyday, and went to nich into mens clothes and shoes. In the summer time, my sales are up 45% from same time last year, ive missed some days here and there, and you can see it on the sales graph, the day or 2 after i miss a listing day my sales tank. I also had one of my best months ever in May, like the 2020 days. Draft bank is huge, i list my 20 items on the weekend in 30 seconds and done. I been doing this full-time since 2018, and never listed everyday, and now thst i do, the difference is night and day
them big girls love you beard.
The main lesson in Zero to One is that competition is for losers.
A thought on customer service. Most e-commerce goes through Amazon, and as I understand it, Amazon customer service handles everything customer facing-even for one shot sellers. Maybe that's why people think eBay CS is actually eBay?
Thanks for the talk 😊. I had 9 returns this month going from an average of 2. It's been crazy. Majority was Just Didn't Like It. I think people are just renting my stuff, for free, for their events. Lol!!
I know this is a touchy topic for some and I know it depends on category and what you sell, but how close to the suggested ad rate do you feel people should be?
It really is based your category as an example one category I’m in suggests 11% however the Listings Quality Report for that same category shows the top 10% of sellers in that category average 6% promoted.
@@ProfitPlaybookPodcast where can I find the listing quality report?
Josh is right! We know eBay has their suppression and they have to because they charge for promoted! Not everyone is on the same playing field.. waist of us do all that stuff Jon .. we are sitting on our hands.. Josh knows things are wrong ..
I just don’t get it. A MODICUM of good customer service is better than what 75% of sellers provide.
You shouldn’t be listing any days of the week. Your employees should be doing that. 🤷♂️
Working towards that
Scott I think all their sound effects suck too.
Hills of Sausalito
Jon you owe this man $100
Capri...
This 🌎 needs ditch diggers too, ✌🏻💚✌🏻💚🙏🏻🙏🏻
3:19, No offense to Flippin Aint Easy but WHAT the hell is he talking about? The stuff he is talking about, I'm ALREADY doing that ALREADY. I'm doing 50% (or more) sales, use promoted listing, answer customer questions, etc... For him to say seller have to create positive experience, how about ebay keep their DAMN website running without DAMN sever error/glitches. The sellers are DOING all the work, only thing we ask ebay is to keep their website running without ANY ERROR, they can't even do that. Shifting blame to seller, GET REAL!!!!
And this is why you will continue to fail. Looking for a scapegoat rather than some honest self reflection.
With all these so called ebay issues holding yiu back how do you explain the overwhelming success of others? Try taking advice of the successful and get an understanding of what they do to win rather than point fingers and make excuses why it can't possibly something you could improve on.
Exactly .. most of us are already going through it all we don’t list and forget! Josh is right ..
@@robsomething4435 No offense but that is the MOST stupidest comment ever. I have been FULL TIME ebay seller for 8 YEARS, have you been full time ebay seller at least 5 year? I highly doubt it b/c your comment is most uneducated, clueless comment. As a seller, I'm doing my part, but what the hell ebay doing? This slowdown is not caused by seller, it is Ebay. Funny thing is that I have multiple specialized stores and one of them is clothing ebay store, that store, I'm up 30% while other ebay store is DOWN. Clothing seller are NOT effected by this ebay glitch problem but if you sell other than clothing, you are screw. I'm not talking out of my ass, I could see it in my many ebay stores.