How I DESTROYED My Reselling Business In 18 Months

Estimated read time: 1:20

Summary

In this video, Renewing Amber bravely shares the story of how her reselling business went from being a thriving endeavor to a financial burden over the span of 18 months. She candidly discusses the challenges she faced, the mistakes she made, and the emotional toll it took on her mental health and personal life. Amber hopes to use her experiences to help other resellers avoid similar pitfalls by highlighting the importance of sustainable business practices and maintaining a balance between business goals and mental well-being.

Highlights

Amber shares how her business success blinded her to underlying issues. 😵
She reflects on how emotional decisions led to poor business choices. 🤯
Her journey underlines the danger of relying too heavily on one sales channel. ⛔
Amber highlights the struggle of maintaining personal relationships amidst business pressures. 💔
She stresses the importance of having a diversified inventory strategy. 🛒

Key Takeaways

Failure is a part of business, embrace it and learn from it. 💡
Diversify your inventory sourcing strategies. 📦
Live selling can be profitable, but don't rely on it alone. 📢
Mental health is critical, maintain a work-life balance. 🧠
Avoid low-price strategies that don't align with your cost structure. 🔍

Overview

Amber launched into the reselling world during a tumultuous time in her personal life, seeking distraction and financial stability. Her initial success was exhilarating, but masked systemic issues in her approach. 🌟

As she transitioned to full-time reselling, she found herself swept up in the high of live selling platforms. Her strategy focused on volume rather than value, leading to unsustainable practices as she tried to maintain a façade of success. 🎢

Realizing her mistakes, Amber shares her ongoing journey to recalibrate her business. She now advocates for pricing that reflects true value and stresses the necessity of a balanced approach to prevent business from overwhelming personal life. 🌱

Chapters

00:00 - 00:30: Introduction to the video and the concept of failure The chapter begins with the introduction of a video that addresses the concept of failure. The narrator acknowledges the challenge of making the video, inspired by a post from someone on Instagram. This person pointed out the lack of discussion around failures within the reseller community. Online, everything seems perfect with stories of successful flips making significant profits, but she questions why no one discusses their struggles and failures. The chapter sets the stage for an honest exploration of these less-discussed experiences.
00:30 - 01:00: Realization of business failure and beginning story In this chapter, the narrator confronts a long-realized conclusion about the failure of their business over the past year and a half. They promise to explain their failures in detail and also intend to provide some context about the reselling business industry as a whole.
01:00 - 02:00: Starting in reselling and personal background The narrator began their reselling journey in 2018 during a challenging time in their life. They had just gone through a difficult breakup after a seven-year relationship, where they moved across the country with their partner, who eventually left. This situation left the narrator feeling isolated in a new place, prompting them to find something meaningful to do, which led to their involvement in reselling.
04:00 - 06:00: Transition to reselling full-time and initial success The chapter details the author's transition to reselling full-time following a breakup. It highlights the emotional challenges faced and the necessity for an activity that provides both distraction and tangible benefits. Recognizing that hobbies without returns would quickly lose their appeal, the author decided to pursue reselling as it had the potential to be financially rewarding.
07:00 - 08:00: Challenges with sourcing and maintaining growth path The chapter discusses the challenges faced with sourcing and maintaining growth in a reselling business. It begins with the narrator sharing their discovery of reselling during a research phase while working a full-time finance job for seven years. They express enthusiasm for the potential of reselling, highlighting it as a promising opportunity. Despite making numerous mistakes early on, such as purchasing items that did not sell, the narrator remains optimistic about the learning process and the business opportunity.
08:00 - 10:00: Exploration of live selling platforms The chapter titled 'Exploration of live selling platforms' details the author's initial foray into reselling as a side activity. Initially, they dedicated minimal time, doing it part-time alongside their main job, listing items, shipping orders, and making Instagram posts to avoid being idle. Despite its part-time nature, the author enjoyed the process and was motivated to grow the business. Over time, their efforts paid off as they successfully balanced work and expanded their reselling operations, resulting in financial gain.
15:00 - 17:30: Mistakes with inventory sourcing for live selling The narrator discusses their initial success with live selling, as they had a stable income from a full-time job and used extra funds to invest in bulk inventory. They describe buying various palettes, which became highly valuable during the pandemic, contributing to their business growth.
20:30 - 23:00: Sourcing struggles and financial strain The chapter discusses the narrator's initial success and satisfaction with their listing and shipping work. However, they began to experience difficulties at their full-time job, which was characterized as toxic. Working six days a week, they felt increasingly miserable and recognized the need for a significant change in their life.
27:30 - 31:00: Efforts to recover business sustainability The chapter discusses a pivotal moment in the narrator's life when they met their ex-partner, who was an entrepreneur. This meeting inspired the narrator to fully commit to their reselling business. Encouraged by their partner, the narrator decided to leave their misery behind and take the leap to pursue their business full-time, realizing the potential for exponential growth with dedicated effort.
37:00 - 38:30: Conclusion with reflective and future outlook The author reflects on their first year in the business, expressing how it was an amazing experience despite not making a lot of money initially. They share financial figures, mentioning a gross income of around $60,000, but noting significantly lower net earnings due to the nature of starting a full-time business. The chapter highlights the challenges and slow growth of ramping up listings in their particular line of work, emphasizing that unlike other types of businesses, success and higher sales volume take time to develop.

How I DESTROYED My Reselling Business In 18 Months Transcription

00:00 - 00:30 this video is going to be hard to make but I saw someone on Instagram talk about how she doesn't see anybody in the reseller Community talk about their failures and talk about everything just seems like rainbows and butterflies online like I'm getting this item and I flipped it for $100 and I'm getting this item I and I flipped it for $200 and she was struggling and she was like why do I see no one talking about their failures and recently L
00:30 - 01:00 I came to a big conclusion which I knew for a long time but I finally faced that conclusion which was I have failed at least the last year and a half of my business and here is how I come to terms with it all and I'm going to explain it all to you guys so before we get into my failures let's kind of talk about reselling in general
01:00 - 01:30 so I started reselling maybe like 2018 was in a very different point of my life at that point I which is kind of similar to right now I was actually going through a really hard breakup I was with somebody for 7even years I moved across the country with them and they ended up leaving me totally fine I didn't know anybody here and I was like I need something that is
01:30 - 02:00 going to be able to get me through this breakup right to get me through the heartache that I'm feeling to get my mind off things something that I can focus on and I knew that something had to give me a benefit in return because yeah I could read or yeah I could paint or yeah I could do all these little Hobbies but if those hobbies aren't giving me if those hobbies aren't giving me anything in return I'm going to stop doing them very quickly and just wallow in my bed so it's like I need something that is probably going to make me money right so then I did a lot of online
02:00 - 02:30 research and I stumbled upon reselling and I was like wow this actually seems really great and a really good opportunity I'm going to try it at that point I was working in finance and I worked in finance for 7even years and I was still working that full-time job so I was doing both of those things for a while and when I started reselling I absolutely loved it obviously I made tons of mistakes I picked up things that didn't sell but those mistakes were very
02:30 - 03:00 minuscule and again I was doing it on a very part-time basis you know I would go to work I would come home and to not wallow in my bed I would list a few things or ship my items or you know make a post on Instagram or something right I was doing it very part-time but it was something that I enjoyed and that I wanted to grow so then I continued to grow that business and everything was going well I was working I was growing it I had ample amount of money money in my reselling
03:00 - 03:30 business account because I wasn't touching it right I had a a full-time job that I was living off of and this was just like extra and it was great and I was like wow like I can buy like bulk inventory so then I did I started buying different palettes and things like this and and that leads up to the pandemic and in the pandemic the palettes were incredible were amazing right so I bought some of those
03:30 - 04:00 and everything was great I was listing I was shipping I was working but slowly I started to fall apart at my full-time job I it was extremely toxic I was miserable every day I worked six days a week so I worked Monday through Saturday and I was slowly realizing that I needed to make a change in my life right
04:00 - 04:30 so anyways fast forward a little while later I met my now ex again uh partner at the time and he was an entrepreneur in his past career as well he's built a few different types of businesses and he was very supportive of my reselling business and he was like Amber you know like you're miserable like why don't you take the leap why don't you take the plunge and try to do this full-time and and if you can put all your effort into it like this could grow exponentially and I was was like yeah so I then quit
04:30 - 05:00 my job and that first year was amazing I didn't make a lot of money that first year I think I grossed like $60,000 or something and netted a lot less than that because it was my first full-time year and as any as everybody knows when you ramp up your listings it's going to take a long time for your business to really grow to have a lot more items sell the same amount you know these this type of business isn't like a
05:00 - 05:30 I'm going to list 20 items today and 20 items are going to sell tomorrow right it's I'm going to list 20 items for 6 months and then I'm going to start seeing that growth so that first year was all about me building a foundation for my business um I started going to the bins every single day I started listing 10 15 20 items daily by the end of that year I was feeling really good again I wasn't making nearly as much money as I was in my
05:30 - 06:00 my finance position I was like but this is affording me you know mental my mental health was a lot better and then um you know things started to become serious right like I was like okay I've had this business for a year now like I need to ramp this up I need this to make as much money and or a lot more money than I was making because like I quit my job to do
06:00 - 06:30 this and so I started listing uh 20 plus items a day I got I got two vas I started listing 20 um plus items a day I started being extremely consistent and I started to see you know a lot of growth within my business and I think that next year I grew my business to over $100,000 and you know was extremely proud of myself and
06:30 - 07:00 I was like okay like I got this at that time I was going to the bins and I could go to the bins and spend $1 $150 and get really great items and I was flipping those I was also buying sometimes I was buying prod up boxes and like other places just to like see what they had I used to buy like Joe Mar boxes things like that but I had the ability to do so because my business was you know starting to be pretty
07:00 - 07:30 successful well I started to hit a rut like most people do in this business when you're kind of doing the same things over and over and over again and fast forward I had my business for a few years now and I you know had my vas and I was like uh I hate I hate photographing like I'm so over it like I I photograph like
07:30 - 08:00 basically I had to photograph because I was lisening you know 20 plus items a day my vas were drafting them and I was listing them I was photographing So Many Items um I was miserable I didn't want to go to the bins anymore cuz I was doing the same things over and over right well fast forward a little bit while longer and whatnot came out and I started seeing all of the you know ads for whatnot I started seeing
08:00 - 08:30 big YouTubers try whatnot and I was like wow there's this there's this live selling and that like that was I felt the aspect that I was missing from my business because I was kind of lonely I didn't have any reselling friends all I had was my ex partner and my ex co-workers as friends and I was starting to get really lonely you know with reselling and I was like this is it so I talked to my you know EX at the time well my boyfriend at the time who's now an ex whatever and um I was like there's this new live selling platform that just
08:30 - 09:00 came out and I think I'm going to do it and he was like Amber like you should do it like the best way to build a business and to you know stay stay in this profitable cycle is by being Innovative with your business and trying new things and and I was like you're right so I applied for whatnot this is where things take a turn now I want to make a little disclaimer here because live selling is
09:00 - 09:30 so incredible okay you're going to hear me talk about a lot of downsides that I've experienced in the last couple years and a lot of it has to do with live selling but it's not because of live selling it's because of so many choices that I have made that have snowballed me into the position that I'm in and I am extremely grateful for live selling I'm extremely grateful to all the people that I've met and everything like that I just made really bad choices
09:30 - 10:00 very early on and so I really wanted to make this video to you know let you guys know so that hopefully you guys don't make the same choices that I did so whatnot came out I applied I got in I took the training I did everything and my first show was a banger my first show well a banger to me my first show I did over $200 and I was like this is incredible and from that point forward I
10:00 - 10:30 was absolutely hooked now what not slowly whatnot went like this and then like this really quick because what happened was it was a place for basically other resellers right resellers were buying from other resellers because it was so fun it was so exciting it was so new so those first couple months were really great really profitable and I was like okay like I'm going to do
10:30 - 11:00 this so I would go to the bins and then I would come home and I would do my hauls and this is starting my first bad decision that started a bunch of chain reactions which was it didn't matter what I had in that haul I would start everything at $5 and so almost all of my items went for $5 right there was obviously some stuff that got bit up but I I was just so
11:00 - 11:30 excited that I was selling so much and that it looked like I was like kind of like a volume seller and I was like yeah I just sold all of this for 200 and I only paid 50 for it right and it seemed like such a great thing and so I'd go to the bins I'd come home and then I would do a haul or I would order thread up boxes and then I would come home and do a haul and
11:30 - 12:00 and back in the day throw boxes were really amazing I would like pull out an All Saints dress and start at five bucks and it would sell for five bucks right and at the time I didn't see what was wrong with that because technically I was still profiting and so I doubled down on it and continued you know to sell things for really low and then you know whatnot started trickling off and I realized that it probably wasn't
12:00 - 12:30 sustainable and right when that was happening Poshmark announced Poshmark live and I was like this is a game changer because there are actual buyers on Poshmark right whatnot was a platform created to be a live selling platform but it didn't have the customer base that Poshmark had Poshmark has actual buyers and I was like like this is a
12:30 - 13:00 game changer like this is it this is what is going to propel my business so I applied I was one of the first not first but like you know one of the first phases of um live show host and I forgot to make make an integral point on whatnot I actually met five of my incredibly close friends um we have the live five we talk pretty much day basically every single day and um they have gone through this journey with
13:00 - 13:30 me although they have made very other decisions themselves only I'm the blame for my business but we've all experienced this journey you know so we were talking to each other and we were like we got to do this Posh live so we got on to Poshmark and thankfully we were one of the first phases to roll out right and so it again has been incredible you know I've been doing live shows now for over two years and I am so thankful for
13:30 - 14:00 everyone who I've met everyone who I have connected with everyone who you know shares their vulnerabilities with me as I share with them with you guys and I have built such a community over there and I'm very thankful for that but I've also made a ton of mistakes so started on Poshmark live and basically kind of did the same thing well actually in the beginning beginning I was pricing things High and obviously having lower dollar shows
14:00 - 14:30 but selling items in my closet for a discount which was great and then Macy over at Blue Consignment one of my really close friends part of that girl group she was the first one to kind of experiment on Poshmark shows and she was like I'm going to do a $3 show and we watched her and her $3 shows starting to started to become amazing and I was like I'm going to do this well the problem
14:30 - 15:00 with live shows and especially doing low start shows is that you need incredible amounts of inventory you need volume to make them work and basically around this time I would say is when I decided to stop once Poshmark lives came out and I started doing them for a little bit I it took so much mental energy because it was
15:00 - 15:30 something new you were learning something new you were building your platform that I had to make a choice and my choice was to stop listing so I got rid of my 2 vas and I was like you know what all this inventory that I was going to list I'm just going to start running in shows and that was probably the most in one of the most impactful decisions that has hurt my business was I stopped listing which means the only way granted I had
15:30 - 16:00 stuff trickle in at that point I had 1,200 active listings on eBay and Poshmark so obviously I'm going to have sales from those right but relying 100% on live shows was such a mistake for me and I didn't realize till months and months and months and months and months later and so yeah I stopped listing at that point
16:00 - 16:30 and I was like I'm going to go full all in with Poshmark lives well the same time all that was happening my bins were slowly getting worse and worse it happened over a long period of time but I when I first started my business I used to be able to go in there and get cart full two carts full spent $100 plus every time I went in there slowly over those years it went down to spending $50
16:30 - 17:00 you know $75 $50 and then starting to be at this point that's it was starting to go down even more and because I wasn't listing I was trying to only get things that I knew would sell in a live show and it's very different items than you would list obviously there's a lot of crossovers right but a personally I wasn't going to pick up a
17:00 - 17:30 Chico's blouse that I knew I could list on eBay for 2530 and get that but on Poshmark live I or on live I knew it would only get bit up to $3 you know at that time because of what my customer base was so I started to become really picky and get things based on what my customers would like instead of you know things that I could list and everything granted another huge regret at this point I didn't have any death pile anything I ran everything that I
17:30 - 18:00 sourced and I had low start shows I did that for a while and I realiz $3 shows weren't for me I didn't have the audience that some of my friends had and I was not making basically any profit on these items and I was like slowly realizing like this isn't this isn't the best because you need volume to do $3 shows and I was doing them basically I think at that point I was doing them like Friday Friday morning Saturday morning Sunday morning and so then I
18:00 - 18:30 switched to $7 shows I was like okay you know what I'm going to switch to $7 shows it's still a lower um it's still a lower starting price but at least I'm making a tiny bit of money right again huge mistake I started doing that well at this point my bins have completely gone to crap again and this is 100% on me I wasn't taking
18:30 - 19:00 advantage of the full bins right I was getting show items which you would be like wow there should be a bunch of those there but in my mind I I don't know how to explain it I wasn't taking advantage of my bins let's just leave it at that and I wasn't getting a lot I was spending like $15 $20 every day I was coming home I didn't have enough items because at that point I was trying to sell 50 items every
19:00 - 19:30 show and I was trying to have like four or five shows a weekend which mean I needed like 200 or 300 items and I was not getting that from the bins and at this point I'm freaking out and so then I start contacting a wholesaler I explained to them that I'm a full-time live seller and I need inventory I need a lot of inventory and I need like trendy styles
19:30 - 20:00 well I started buying from them weekly and that was the next integral mistake that I made and nothing against that wholesaler they were absolutely phenomenal so nice so like incredible but I was buying things from them at around $3 each and I was buying 300 items a week okay so that's like 900 and something plus shipping and everything and I was starting those items at S freaking
20:00 - 20:30 dollars because hoping hoping that I would get bids on them because if I knew if I in my head at that point if I started items at what they were worth I was going to sit on them and at that point I was trying to be a volume seller so I was trying to sell 300 items every week and I this is it's just really difficult for me to talk about and I just made a huge huge huge huge mistake I did this for months so
20:30 - 21:00 every week I'm spending $900 Plus on inventory and I'm selling those items at barely Break Even because if something sells for seven and they only get one item then there's a $2.90 fee from Poshmark cuz it's under $15 so technically I would make $4 and I would be paying $3 plus it was like $3.50 after shipping so I was
21:00 - 21:30 making 50 cents an item in my hopes that some of these items were going to get bit up huge huge huge huge mistake but I kept thinking I'm a volume seller so it all adds up I'm a volume seller so it all adds up the reality situation is is I waste wasted their time I wasted my time I put myself in a
21:30 - 22:00 terrible Financial debacle and not only guys am I at this point am I running my business with this money I'm also using this money to live like this is my income this is my income and I also have to put away money for taxes I had to put money away from for retirement which I didn't do for a
22:00 - 22:30 couple years because I was just running in this terrible Circle so after I started doing those $7 shows and I was like my friends are like Amber you need to stop this like you need to do something else so I was like okay I'll start my 710 and $15 shows same thing I was buying tons of inventory and I was like trying to put them in different Cate I was also going to the bins daily to try to lower my
22:30 - 23:00 cost but my bins were just my bins just start my bins went through a very bad dry spell for like 6 to n months where there was like basically nothing and so my bins were terrible I was making really terrible decisions with the inventory I did have and I just kept saying like I'm going to grow if I'm consistent I'm going to grow my audience and everything's going to get bit up and everything's going to get fine but that
23:00 - 23:30 never happened so I started to do my 710 and $15 shows and then my $10 items and my $ 15 items started to sit and I was like well I can't have them sit I need them to sell because I'm buying all this inventory every week I was feeling very defeated at the time and mind you during all of this my mental health was terrible my mental health heavily relied on what my sales were for that
23:30 - 24:00 day or for that weekend how my shows did if I had a terrible show I was in the worst mood ever if I had a great show I was in the best mood and it was so bad for me so so bad for me so then I was like I need to do something different I need to get inventory a different way because I am also mind you that the items that these this wholesaler was selling like selling me was lower end items right because I
24:00 - 24:30 was paying $3 an item they were they had other clients that were paying a lot more for decent items so they were basically giving me like if it was like if I was like yeah I need mayw J crew pra Athleta they were giving me the like older Styles things that weren't trendy because they had other buyers that would pay more for the the better items so I did forget to mention that these items weren't cream with the crop items okay they B rejects that I was paying a poop ton
24:30 - 25:00 of money for because I had no other way to get inventory because I wanted to be this volume seller and I I thought that would solve all of my problems well spoiler it didn't so then I was talking to Britney at essential Endeavors and I'm talking to her and I was like I just can't keep buying these items from my wholesaler like I'm barely I'm not making money I'm basically selling them at cost I'm
25:00 - 25:30 shipping 300 items a week and spending all this time and it's just crap and at that time she was getting thread up boxes a lot because she lived in an area where she didn't have a lot of sourcing opportunities and her thread up boxes were fire and I had gotten some prior and that they were fire I'm talking a whole 50 lb box of like newa tag items like newa tags Banana Republic Jay crew um things that will sell really well in
25:30 - 26:00 live shows and I'm like dang so I reached out to my wholesaler and I was like I don't I can't do this anymore I'm switching directions and then I started Go full force and ordering thread up boxes well I tell you not that as soon as I stopped buying from my wholesaler and started buying thread up boxes thread up boxes went down the actual crapper so at this point my bins actual crap like I barely can get anything from
26:00 - 26:30 there and the reason I say that is because in Arkansas we have dollar day on Sundays and so we were getting no raw donations into the bins and the only items we were getting were Tad clothing from the Goodwills and anything that's that's worth anything would be bought up during 99 cent day and so all that was left was like damaged clothes or things that just didn't have any value
26:30 - 27:00 whatsoever and so the bins were doing terrible then I started getting thrown up boxes and for some reason as soon as I started getting thrown up boxes there was they were just so so so bad I was donating more than half of the boxes and I was spending if you go on thre Up's website they're $400 to get these big uh 200 lb boxes so I was spending $400 like every week week but I was like it's better than spending the $900 that I was
27:00 - 27:30 spending every week when I was buying from my wholesalers so I'm saving money but now I'm trashing or donating half of the items and now yes half of the items have been were were really good but I still wasn't listing at that time and I was putting them in shows and if they weren't getting bit up then I was just I'm back where I started I'm just back where I started so I was like I need to do
27:30 - 28:00 something so then I made the conscious effort to start listing again so I started listing again and obviously that takes a long time to build back up but I'm very thankful that I started listening again and so now I'm just in a bad state right I was buying from a wholesaler spending $900 a week going into debt CU that's putting it all on a credit card then I was list buying thread out boxes
28:00 - 28:30 for $400 a week and those were doing terrible and I'm just putting that on credit card and I'm just doing anything I can to possibly survive because I also need to make a paycheck and I also need to pay our rent and our half of everything at that point cuz I was with somebody my mental health was going down the drain I was just suffering in so
28:30 - 29:00 much and a lot has happened since then I would say that was probably the end of last year beginning of this year and I decided in the beginning of this year actually I think it was around like March I was like you know what I've been listing consistently like I'm going to continue to do that and I am going to revamp how I run my
29:00 - 29:30 business I'm going to go to the bins I'm going to be more conscious and I'm going to start picking up things that are like style based that I can list on eBay I'm going to be start picking up plus-size items CU I wasn't listing PL or I wasn't picking up plus eyes because uh I just don't have that audience and I was like I'm going to start doing a little bit higher starts so I started doing I started implementing higher starts a little bit into my shows well I do that for a couple months and
29:30 - 30:00 I'm feeling starting to feel a little bit good about everything and then my bins gets hit by a tornado I'm back to where I started of not knowing how to get inventory again so I have had to Pivot a lot and I have um relied really heavily mostly on thread up boxes um a few local like a liquidation store around me that prices
30:00 - 30:30 things up a lot but that I can potentially get to list um and the biggest decision that I made is to change the way that I run my shows and now the way that I run my shows is I start everything at $15 and I continue to show those item items until basically they sell if they never sell then I will take them off either send them to thread up or list them and this method has
30:30 - 31:00 worked tremendously for me but I am trying to make up for all the mistakes that I've made in the last year and a half since I started live shows and I'm not going to sit here and lie to you I have business credit card debt from all of the bulk buying that I did to try to become a volume seller that I was basically selling everything at cost again everything is my fault I just kept
31:00 - 31:30 thinking that things would get better and they haven't and they didn't and since then I've gone through so much my business was probably one of the main things that ruined my relationship because my mental health was so bad I was so up and down and so miserable and my mood was always very dependent on how my shows did I had no work life balance live selling ruined my business also
31:30 - 32:00 gave me so much opportunity and I truly believe live selling is such an amazing way to propel your business but you have to do it in a way that's sustainable to you and that is actually working for you and I just didn't for a very long time so where I'm at now is I am trying to pay off credit card debt I am looking for a new
32:00 - 32:30 job not because of this per say mostly because I need a change in my life you know I've been working on my business now for 5 years and it doesn't bring me the joy that it used to bring um but also because I need that Financial stability right now because I put myself in a bad position you know after my breakup I had to start surviving on my own you know
32:30 - 33:00 and with that I have had to be really cautious about how I spend my money and how I make my money and I have been really disciplined about starting items at what I'm comfortable at which is $15 and listing items and again I have seen a tremendous growth and a tremendous shift in my business already and it's only been a couple months since I started started implementing this and it
33:00 - 33:30 is really propelling me in a good trajectory for my business going forward but it's going to take a very long time to clean up the mess that I've made over the last year and a half and also inventory is a huge struggle for me because I am in debt with my business from buying all that bulk buying for so long and never making a profit on it and barely paying it off I
33:30 - 34:00 um I can't bulk by really anymore because I don't want to continue that debt but I don't have any other way to buy inventory right now because my bins is shut down and I've been going to Dollar Days and our Goodwills just don't have anything I don't know where all the clothing is going but there's like big giant gaps in in our in our stores they also don't let you go
34:00 - 34:30 through the new racks anymore so if I am there on a day where there's a new rack where that's where I always found my best items I can't go through those anymore so there's a lot of things working against me but I'm trying extremely hard to continue this and be back on the positive side and learn from my mistakes this video is very hard to make
34:30 - 35:00 because I took a thriving profitable reselling business that I H once had and I completely destroyed it and that is so hard to take in and to be okay with slowly but surely I am turning things around and I will get back on my feet with my business and I will continue to to learn and grow and bring you along this journey with
35:00 - 35:30 me but I appreciate you guys listening and if this video was at all helpful to you if you learned anything if you took any of my failures and are going to implement them in your business let me know I'm sure there is stuff that I'm missing from the story it's just like when you when you sit down to like talk about it all your mind kind of goes blank but basically the main takeaways are is I
35:30 - 36:00 wanted so bad to be a volume seller to be consistent and to do that you needed inventory and I didn't have access to BU bulk inventory so I had to do it with a to do it as high a higher cost of goods and then I was selling things at break even points so that I could get things to sell
36:00 - 36:30 if I were to do things differently I would start my live show business as a higher start show from the beginning that way everybody knows what to expect you're going to gain that customer base from the beginning you have a profit always with every single item you sell and you are double tripling quadrupling your money instead of breaking even just to build a following all I was doing was trying to build a
36:30 - 37:00 following and it bit me in the butt so hard and now I'm living with the consequences anyways guys thank you so much for watching I am really trying hard to get to that a th000 subscriber Mark so again if you found this video at all helpful vulnerable or you learned something from it please subscribe to me please comment down below tell me your stories tell me if you've had any failures in your business tell me if your business is doing incredible and what your successes are I'd love to hear
37:00 - 37:30 them and um I look forward to sending out a new video for you guys soon thank you bye