Why 20 dollars and why reselling is not an instant money maker

As I continue from the last entry, I asked the thought that you can start reselling with just 20 dollars. It doesn’t take much to get started, and you first need to look around your home and ask yourself, “What can I sell that I can live without?” Like I said previously, it’s not an easy question to answer. The most significant things you want to keep are essential documents, family items, and other items that are not as easily replaceable (this could include: of kind items, something important from your childhood, and so on).

People who have started businesses have started with either no money or next to no money in their pockets. My best example is myself. When I graduated from college with my undergraduate degree, it was 2008, and the United States was in the midst of a recession. I had an insane amount of college debt and minimal resources to my name. It was a very stressful time. So, I started to do soul searching on what I should do until a job comes along.

At this point, I started to look around at what I owned; what did I learn? It was time for me to become a minimalist. I started selling a ton of baseball cards I had been traveling around with going between school and home and realizing that it takes up a lot of space. (it was 20,000 cards at the time, taking up half of my car’s trunk. So I knew what I had to do; it was time to sell them. Thankfully, it netted me 100.00 after fees of selling online. At this point, is when the reselling bug bites me. This example is just one of those things that just happened; it was dumb luck. The time that this sale happen was a couple of weeks. It brings me to my next point.

Reselling isn’t an instant moneymaker; it takes a lot of time, research, grit, and patience to make this or any business successful. Another aspect that you need to consider is what is your business acumen. Do you understand the idea of running any business? At this point, this is where mentors, coaches, or even people you follow on social media could be a good example. The one warning I would add is that you have to take what you see on social media and Youtube with a grain of salt. If you don’t understand something, you have to research it. The other perspective is hiring someone with experience like Schoder Media to assist you with building out your online business.