1. Q&A With a 6 Figure Online Re-Seller
This week I was able to get ahold of Alex, aka Flippin Fins on Twitter, and asked him some questions. Here is Alex in his own words:
“Hey, my name is Alex, aka Flippin Fins on twitter. When the pandemic hit in March 2020 I was laid off of my outside sales job and decided to create an ecommerce business to support my family. My initial goal was to make $100 per month and grow my twitter following to 100. Since then my business has grown to 6 figures in gross sales in 2021 and my twitter following is now over 2k. This was accomplished by working on my business every single day and telling my story on social media.”
How would you describe what you do to a grandparent?
“Since there are so many places to shop for products online, there are discrepancies between prices and availability across different online marketplaces. This creates an opportunity for sellers like myself to buy products from one source and resell them to customers searching through another source. We purchase products from retail stores both online and in-person, and also source products from China, that we resell for a profit on Amazon, ebay, Etsy, and locally.”
Is reselling for everyone, or do you think it takes a certain type of person?
“Reselling is for anyone, but not for everyone. What I mean by that is I believe anyone can learn the basics of reselling. But ecommerce is a competitive space full of challenges at every turn. In order to be a successful reseller you need to be patient, resourceful, hard-working, dedicated, disciplined, and unwavering in your belief that you will succeed.”
If someone wants to get into reselling, what is the first step they should take?
“Gaining knowledge and experience. For knowledge, I would recommend utilizing as much free reselling content as possible. Youtube is a great place to start. Also, there are free reselling groups that offer a community environment and can help answer questions as you get started. These can be found on platforms such as Twitter and Facebook.
The only way to gain experience is by doing. Many resellers, including myself, started by "shopping your house". This simply means gathering up things that you own that you no longer use and reselling them on ebay. Its relatively easy to get started and begin learning the basics of listing, pricing/selling, shipping, and customer service. Just about everyone has something in their garage, attic, or closet that they don't need that is worth something.”
If you had to go all in on one platform, which would it be and why?
“Without hesitation, Amazon. The size of potential customer base and catalog of products is unmatched. I have sold hundreds of items in a DAY on amazon. It also happens to be the most difficult platform to learn and maneuver when starting out, giving it the potential for "boom or bust".
My favorite platform to sell on is Etsy. Relatively easy to create listings, lower fee structure, ease of marketing tools, lower competition, higher degree of customer interaction, and Etsy is growing quickly as a marketplace. I recommend giving Etsy a try, especially if you are a creative person.”
If I gave you $1 million/year for the rest of your life but you had to work on something or at a job, what would you do?
“In all honesty, I would still "flip" stuff. "Flip" being another term for reselling. I truly love what I do and will be doing this for as long as I can. The only change would be what the "stuff" is. I am a licensed real estate agent and have a passion for real estate and owning property. I would buy houses, rehab them, and either sell or rent them. I have some experience but would love to have the resources to be able to dig deeper.”
What is your favorite podcast or youtube videos at the moment?
“With regard to reselling, I like Reezy Resells and Flips4Miles. They both put out a ton of helpful content and I always learn something from their videos. I'm also a lifelong Miami Dolphins fan and consume some dolphins content almost every day. My favorite dolphins channel currently is TD Phins Talk.”
What is the one book you think everyone should read?
“Without a doubt, Toyfolio, by Greg Webb. This is the book that started it all for me. Greg explains his approach to reselling toys on amazon in a way that is easy for anyone to understand. He even walks you through how to create a business and get started step by step. I cannot recommend this book enough and will tell anyone who will listen about it!”
How can people follow along with you or get in touch?
“You can follow my journey on Twitter at Flippin Fins @Lexcrucial. My dm's are always open and I'm willing to help others as much as they are willing to help themselves. Thanks for reading and remember - get started and keep going”
Thanks Alex!
2. Are Calendly Links Disrespectful?
This week Sam Lessin (@lessin) tweeted: “‘Calendly’ Etiquette is The Most Raw / Naked Display of Social Capital Dynamics in Business”, along with this explanation:
This tweet went viral across business and VC twitter, and led to a lot of different opinions.
My take? It makes scheduling a call easier for everyone. In a different time zone? No problem, the link will show free times in your preferred time zone. It takes out the extra back and forth required to set up a call through email, and saves everyone time. I use a similar tool for my job at Amazon, and it makes scheduling a call 10x easier.
Ironically, this tweet resulted in an increase in Calendly sign ups according to the Calendly CEO:
Great example of the old saying “any press is good press”.
What are your thoughts? Do Calendly links show that the sender believes they are more important the receiver?
3. Business Idea of the Week: Hotel Check-in Automation
Brace yourself… this idea is a big one, and not like the typical side hustle or small business ideas I usually write about.
For the last 5 years, checking into an Airbnb is a completely automated process and doesn’t require any human interaction, so why do I need to talk to a receptionist to check into a hotel?
Why are there one or more staff working the check-in desk 24/7, when the technology to replace this position already exists?
The Idea: Create a business that provides an all-in-one solution for hotels and motels to create a completely automated check-in and check out process. Hotels would replace the locks on all of their room doors, and a code or digital key would be sent to the cell phone of the hotel visitors for their stay. The check in process would be done fully online and the digital key would only work for the days they paid to stay in the hotel. Not only would this replace the need for someone to tend the front desk, but would also reduce the waste of the plastic keys that are currently used.
How I would get started: The first part of the equation is the hardware and software that would enable hotels to use your system. The technology to do this already exists, but you will need to source the hardware, and decide if you will use an off the shelf software, or build your own. Once you have the hardware and software part of the equation figured out, you will need to find a first customer. For this, I would target smaller motels, of independent local hotels. The long game here would be to sign on some of the largest hotel chains, but you’re going to need some customers and used-cases before you go after the whales.
This one would not be easy to pull off, but would make a huge impact on an entire industry, and have a massive pay-out.
Thanks for reading! If you liked this one, please forward to a friend.
And if you’re not subscribed, click here 👇