Using the Pareto Principle to Make More Money in Less Time

If you have been around the business world for any length of time (or read many self help books), you’ve likely heard of the Pareto Principle.  More commonly known as the 80/20 Principle (also, The Law of the Vital Few or the Principle of Factor Sparsity, depending on what circle you run in), the Pareto Principle started as a simple observation by a French Economist named (surprise!) Vilfredo Pareto.  He noted that, in most situations, 80 percent of the effects were a result of only 20% of the causes – or, in other words, you get 80% of the output from only 20% of the input. Now that you’ve heard of it, you’ll start noticing the Pareto Principle in every facet of your life.  (In other news, the experience of first learning a new word or some bit of information and then seeing it everywhere is called the Baader-Meinhof phenomenon).  For example, in a classroom or …

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Record Keeping, Tax Time, and The Best Free Inventory Tracker for eBay Sellers

**Before you read, it has to be said that we at ResellingRevealed are not accountants, tax advisors, or anything of that sort.  We’re just sharing our experiences and you can take them for what you will.  If you have questions regarding taxes, ask a professional.** We regularly see the question posed in eBay seller groups, on facebook, and on instagram, “Do I need to report my reselling income to the IRS?”  Yes, yes you do.  In fact, if you sell on eBay for the purposes of making money, the IRS will classify your hobby as a business, no matter how you view it (also, if you buy with the intent to resell you need a business license, but that’s a story for another time).  Whether you make a single dollar or a whole lot (or even lose money), you run the risk of getting audited and owing the IRS if you fail to file. ​Our first year as part time sellers …

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Selling Clothing vs. Hard-Goods on eBay

So, the first question we have to ask ourselves is, what the heck are hardgoods?!  Well, for our purposes here, hardgoods are any non-clothing items that can be sold on eBay.  Backpacks, appliances, electronics, cookware, books, games, collectibles, and what have you.  While clothing is a great way for people to start out with (since there’s so much of it) it’s worth noting that anyone who makes a lot of money reselling on eBay either switches predominantly to hardgoods or lists clothing in extremely high volumes (often with hired help).  While it’s not practical for most people to source only one or the other, we hate to see people limit themselves to clothing and miss out on all the hardgoods profits.  If anyone sources their goods mainly from thrift stores and encourages sticking to one type of item (shoes for example) you can rest assured that they are leaving tons of money on the table.  …

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Should You Include Thank You Cards in eBay Orders?

ARE THANK YOU NOTES YOUR BEST DEFENSE AGAINST NEGATIVE FEEDBACK? A few months ago, we received two negative feedback within a week’s time.  Since we aren’t mega high volume sellers, this hugely affected our feedback and, frankly, scared the crap out of us.  All of a sudden we had 99.5% positive feedback – not bad, but not what we wanted.  What was really discouraging is that both negative feedback should have never happened (in my opinion, of course…).  The first one came from a buyer who didn’t read the description (the jacket was tailored) or look at the included measurements.  Of course, the jacket didn’t fit.  Great.  The second came from an honest oversight on our part.  The jacket was missing a button, which was apparently very offensive to the buyer.  A full refund didn’t spare us from her feedback. The truth is: If you have 100% feedback, you are lucky enough to have not …

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10 Instagrammers for eBay Resellers to Follow

While we highly encourage you to document your hustles because it can keep you accountable, don’t get so caught up documenting the journey that you forget the journey itself! Oh and by the way, this article felt a bit odd to write because, while we know everyone’s names and stories here, were pretty much just creepy stalkers and they don’t know us from Adam!  So if anyone on this list visits, feel free to give us a shout out! Like most everyone, Kirstie and I spend most of our unoccupied time on social media.  If you’re like us however (and we’re guessing you’re at least similar since you’re here) then you don’t spend your time on social media documenting your food choices for the day or ogling someone’s latest plastic surgery.  Ever since we started reselling, we have made it our purpose to hunt down and absorb every bit of information we can find.  What …

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Making a Full-Time Living Selling on eBay

Quitting your job.  Working for yourself.  Everybody’s dream.  Or even better, next time your boss is being a jerk, being able to tell him, “Hang on a second, I don’t actually need this job, I don’t need your money,  and I certainly don’t need to deal with abuse from you simply so I can stay here and get a miserable paycheck!”  Reselling on eBay has been responsible for paying many of our bills, sending us on vacation, and padding our savings account.  We were recently thinking about the ramifications of me leaving my job and working on eBay full time. Luckily, we did all the math and asked ourselves a few tough questions before I just impulsively told my boss to shove it!  If you’re thinking about heading out on your own, ask yourself these three questions first: Can I consistently source enough product to stock my store? If my wife and I put in another 20 hours a …

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6 Things You Can Do To Increase eBay Sales

Everyone I know that sells on eBay ultimately does it for the same reason – to make money.  Whether you do it to declutter your house and help you pay rent (us a year ago) or pay for a trip to Costa Rica (us now), profit is the ultimate goal.  There are dozens of how-to’s explaining how to source things, how to ship things, how to deal with returns etc.; but these things are only dreams to some people because their items just won’t sell!  So let’s talk about 6 things that we’ve learned we need to do to hear that “cha-ching” daily! 1. LIST, LIST, LIST….DAILY Whether or not things sell is largely dictated by Cassini, eBay’s search engine.  Cassini decides what page things are on when people search for them.  Obviously you’re going to have many more sales if you show up on page 1 or 2 instead of page 19.  eBay heavily …

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How To Refresh Your eBay RSS Feed

UPDATE: As of JUNE 25TH 2018 there is no longer an option for sellers to refresh their RSS Feed on eBay.  Check out some other ways to increase your eBay sales. Did you know that there is a simple toggle switch that could greatly increase your eBay sales?  If not, that’s our job as an eBay Selling Blog…to help you know how to increase your profits!  So without further ado, let’s talk about what an RSS Feed is, how it can hurt your sales, and what you can do to turn the tables! What is an RSS Feed? Simply put, an RSS Feed is a program which makes sure readers/users get the freshest data possible.  An RSS Feed can both notify readers of new content or, in the case of eBay sales, affect search results so that the newest listings are shown first to potential buyers.  In other words, the older your listings get, the …

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The Weirdest Things Found at Thrift Stores: Episode 1

If you’ve been in a thrift store for more than 5 minutes you’ve undoubtedly realized that they’re is some weird stuff there and weird people around to purchase it.  As much as we love selling on eBay, we never cease to get a kick out of some of our more odd finds.  So without further ado, we’re kicking off a new series on our blog!  The Weirdest Things Found At Thrift Stores!  Some of these will be things we’ve found, some will be from readers, but all will be bone chillingly bizzare.  So without further ado, here are 5 of the weirdest things of late! THE DAUGHTER OF THE DREAD PIRATE ROBERTS… IS HE WHISTLING?  DOES SALT COME OUT OF THERE MAYBE? THE BEST WORKOUT FOR CAT “LOVERS” AS A PICTURE THIS IS GOOD…AS A PUZZLE, IT’S AMAZING! HIS FUZZINESS, SIR WALTER SNUGGLEBOOTS What weird things have you found at thrift stores lately?  If you …

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How we got our start selling on eBay

“Oh wow!  Kirstie, look at these shoes!  What size are they….oh….a size 6.  How about this jacket?!  Oh….it’s a 4XL.   Nothing fits me!  Tell you what….hand me that jacket, I’m going to sell it and buy one my size! And that, ladies and gentlemen, is how greatness occurs.  Or at least, how my wife and I doubled our income by thrifting and selling part-time on eBay.  At first we thought, “Well an extra couple hundred dollars a month would be nice” then it was “If we could pay our rent every month with eBay profits…” and now it’s, “Do you think we could buy a house within two years?!” haha Which of course, brings us to this blog.  Hopefully you’ll find it entertaining and profitable while it motivates us and help us keep our goals in sight!  Everyday I’ll be updating you on sales over the past 24 hours, brands to be on the …

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