Shownotes
What a great leap John took a few years ago.
What makes someone see the forest through the trees?
What allows what John would call a “regular guy” to be able to create a real marketplace in what most would see as a crowded marketplace? Great discussion from a humble guy, the Cincinatti Picker.
Mentioned:
Cincinatti Picker Youtube Channel
Sponsors
Gaye’s Million Dollar Arbitrage List
Transcript: (note- this is a new tool I am trying out so it is not perfect- it does seem to be getting better)
Stephen: [00:00:00] Wanted to take a second and recognize my sponsors this week, you know, Gaye Lisbey’s million dollar arbitrage as edge and list group. That’s a mouthful. It is. But guess what? It’s a great opportunity. You can build a big Amazon business. You don’t need a lot of capital when you start. I mean we all started, you know, um, most of it started selling books and then you move into retail arbitrage that is the place that you can turn your money the fastest and online arbitrage. And so by having that skill set, by learning those skill sets, you can get the best bang for your buck. And so gaze group will help you learn online arbitrage. It’s, it’s more than just a list service. They’re going to give you a whole bunch of actionable inventory every single day. Write Monday through Friday. However, there’s also a mentorship that goes on and that mentorship is so important because sometimes it’s great to know what to buy, but it’s more important to understand why to buy it.
Stephen: [00:01:02] But yeah, that’s that. You know, learning the fish are just getting fit. You really want to learn because ultimately you want to strike it on your own and this is a great way to do it. So how about seven days free trial. About a free trial, right? Very, very cool. So it’s amazing. Freedom Dot com. Forward slash is the mouthful. The word momentum. You’ve got to use a hyphen and you put in the word arbitrage. So it’s amazing. Freedom Dot [inaudible], forward slash momentum dash arbitrage, and you’re going to get a free trial in gaze group. You got to tell her I sent you, right? I also have the link in the episode, but it’s such a great opportunity. So she has amazing, amazing. I’m in that group so you’ll see me there and amazing, amazing person who’s there to answer your questions, who’s there to help lead you and help guide you.
Stephen: [00:01:50] And that’s what gay does. She does it every single day. The testimonials are real. Go take a look. You will be blown away and again, it’s a free trial. I have the link on this episode to reach in your seller labs, Jeff Cohen and the team. They have blown me away with this scope project. We use this all the time for our business. We do a lot of private label. We also do a lot of wholesale and wholesale bundles or multi-packs, that kind of thing, which a lot of people do, but we use a scope to help us figure out what are the key words and so it’s really simple. You basically figure out where you’re going to sell, what you’re going to sell, what category, find that lake product, find the top couple sellers and find their keywords. Boom magic. There you go. You copy the best because it’s working.
Stephen: [00:02:39] And guess what? That’s a proof of concept and scope allows you to do that. So it’s seller labs.com, forward slash scope, seller labs.com, forward slash scope. Use the code word momentum and you’re going to get a couple of days free trial and you’re going to save a little bit of money and you’re going to get some free keywords. It’s worth every penny. I’m in that group. Come and check me out. So our labs.com, forward slash scope. Again, use the word momentum solutions for e-commerce. Karen Lunker, great, great, great group. I’ve been using them for a long time and I guess it’s over two years and I’m in there and I pay just like everybody else. Yeah, she’s a sponsor my show, but she makes me pay and I got the same $50 discount that you can get. Oh, by the way, you’re going to get that through my link and my link only.
Stephen: [00:03:25] Oh, and you’re also going to get the free inventory health analysis. Great Way to start 2018, get your inventory in line and Karen will help you do that. We use them for everything basically, uh, you know, long-term storage fees coming up. Guess what, show evaluate. She’ll make some recommendations and I’ll say, yeah, check, check, check, check these out, this return, blah, blah, blah, blah, blah. And magically it’s done. I love it, love it, love it. I love the fact that they take and get rid of stranded inventory for me. I see it in there. And then next time I go in and it’s gone. Love it. Love it, love it. Got An ip infringement, she’s going to help you work your way through that. This is the kind of service that you get from Karen Locker, that’s solutions for the number for e-commerce solutions for e-commerce dot com forward slash momentum, right, so you’ve got a forward slash momentum and you’re going to save $50 a month, 600 bucks a year by just clicking that link. She pays me. I don’t want to hide that. I never do. I’m always upfront about that, but it doesn’t cost you anything additional and you’re going to get that inventory health report. The only way you get that is through mind link the solutions, the number for e-commerce dot com, forward slash momentum.
Cool voice guy: [00:04:39] Welcome to the e-commerce momentum podcast will focus on the people, the products, and the process of e-commerce. Today. Here’s your host, Steven Peterson.
Stephen: [00:04:53] Welcome back to the e-commerce momentum podcast. This is episode 200 and Eighty John Yarberry, Aka Cincinnati picker. Yes, I think that’s a two in the last couple of weeks, but what fascinates me is while John is a picker, he does like to go out and buy things and loves the source and our conversation is still his favorite thing to do is to source, um, but John is a pretty smart individual. He has figured out that there is another model, there was another way that he can move inventory and he’s, and he’s clear to say, Hey, I didn’t think of this idea, but I took what I saw was OK and I enhanced it in his words to what he thinks is a good business model. And I’ll be honest with you, I’ve looked through it. It’s a fascinating business model. Very strong, very well thought out. Um, but he’s put a lot of energy and effort to get in there and it just shows the kind of person he is very, very smart, very articulate, very clear on what’s working.
Stephen: [00:05:56] And to me, he understands that that’s the sub relationship business. He’s not selling anything other than himself and his reputation and getting sellers and buyers is very tough. Fascinating to hear that sellers are harder to find than buyers, which is really cool when that’d be a problem that you need more merchandise to sell. You don’t need more people to buy it. Love that model. Let’s get into the podcast. All right. Welcome back to the e-commerce movement and podcast. Very excited about today’s guest because it’s fresh. I love in a pre interview we’re talking about this. I love somebody who has figured it out, who was pushed aside all the challenges that you and I all have and have figured it out and are willing to take the effort because I’m sure it’s a significant effort. We’re going to hear about it, but he’s figured it out and not let anyone else control was future. And I just think it’s fascinating. John Yarberry, the Cincinnati picker. Welcome John. Hey, thank you for coming on. I’m sitting there watching something and I saw you pop in and I saw that and I started doing a little research and I’m blown away. I mean, I literally was blown away because you figured it out. Now figured out those relative, and I’m sure you’re not, you know, uh, Ebay level auction site, however you’re John Yarberry level auction site, which sounds pretty cool to me.
John: [00:07:20] I guess my own little niche, I can’t say that I invented this kind of local online auction thing, but I just put my own twist on it.
Stephen: [00:07:27] I don’t think anybody. I don’t think there’s anything left to get invented. It’s so infrequent, right. It’s usually somebody polishing something and figuring out some other way with it. And then all of a sudden, you know, a knife is a knife until it’s a Ginsu knife or a until it’s double sided. Right. Or something like that.
John: [00:07:43] What I mean. OK. So you are a,
Stephen: [00:07:47] a seller, you’ve been selling for quite a long time, actually real long time and you sell on Amazon and Ebay and all the regular sources. Um, how did that come about? Where you entrepreneurial as a youth? Were your parents
John: [00:08:01] preneurial sales? When I was in high school, I was working on a sporting good store and saw some cheap sports stuff at a garage sale. Flip this to my work and make some good money and I did and like I got the bug right then and there and just started doing more and more and hitting up garage sales every summer.
Stephen: [00:08:25] It was a type of business that’s out there that’s kind of a. is it a consignment level kind of business or do you sell it to them? Um, are almost like a, like a, a buy, sell trade kind of thing.
John: [00:08:36] Exactly, yeah. So I played against sports so, so, um,
Stephen: [00:08:40] I’ve never been in one, but from what I understand is if I can bring a bat that I’ve used and I’m now ready for the next level, bad. If it’s still current and it’s in good condition, I would get a value. You
John: [00:08:51] either a store credit or actual cash. Is it one of the other. Yeah, they do like say that depends on where you go, but they usually offer you more store credit than cash.
Stephen: [00:09:01] Right? Right. And, and so it’s similar to like gamestop for video games. Right. And so, uh, the more current it is, the more in demand, the more it’s probably worth. What’s the, what’s the statistical percentage would you say that most people get 40 percent? That’s pretty significant. That’s a lot more than I thought it would be. OK. And so there’s a business model where you can go out there and find this stuff and bring it into playing against sports or gamestop or whatever and get paid. Right? None of the hassle of listing photographs, dealing with customer service and none of that hassle bring it in, get approximate market value so they can make a business, you know, a prophet, that’s a pretty reasonable way to do it.
John: [00:09:48] I’m still selling to them to this day, I still feel cool because I love multiple revenue streams. So I’m, I’m still finding stuff for them.
Stephen: [00:09:55] I was um, I just had someone on who who said that they wanted to learn e-commerce and Ebay and so they went to work for somebody and it gave them the education of a lifetime on someone else’s expense. And you know, he’s fair to say, Hey, I give a hundred percent. I don’t, you know, pull back and work on my own thing on their time. I literally, when I’m there, I’m giving them a hundred percent. Matter of fact, the things I learned outside of there, I bring it in and enhance them. Was that your experience with played against sports, would you say?
John: [00:10:23] Absolutely. Yeah. I learned so much about sporting goods. It’s, it’s invaluable how much knowledge I’ve got just because I’m constantly fighting this stuff, so right away I know what to look for. I know what brands are good, what brands are junk and I’ve just made so much money off that.
Stephen: [00:10:39] And is it, I mean, do you generally almost always take this stuff that you buy because you know what the value is to take it to a pled against sports or do you sometimes sell it yourself?
John: [00:10:51] Nine Times out of 10 I just take it to them. Unless it’s something really rare, like a Scotty Cameron putter or something that I know I can easily get a lot of money for on Ebay. I’ll just stick it straight to them.
Stephen: [00:10:59] It’s brilliant though because you’re there anyway looking for what you’re now you, what you’re interested in, yet you have this skill set that probably, you know, like you say, every garage has this stuff. And uh, that’s very cool. That’s a very cool story. I love that, but that’s not the coolest story. So anyway. All right, so you’re working there so you get the bug and then what happens?
John: [00:11:20] It just grows more and more. Every year I start getting more sporting goods and I started dabbling a little bit with Ebay, you know, really young, like 18, 19 years old, you know, finding little things here and there, electronics, video games. Um, and it just kept growing and growing.
Stephen: [00:11:39] And so were you starting to invade the house? Be honest, creeping into every room. It
John: [00:11:44] was, yeah. It’s funny. The year before I started my Oxford website, I just bought and sold full time for a year with no other side jobs, anything. And it took up our whole basement pretty much in my wife was like, you’ve got to get a warehouse, this, you’ve got to get this stuff out of here.
Stephen: [00:12:01] A full basement isn’t marriage killer is popular, there’s nothing ever popular. It’s called junk one cc a full basement. There is no value in her eyes. It’s junk. And so, so you get that. And then with the one year, I mean, were you earning enough of a living after one year to say, wow, this could be a real future.
John: [00:12:23] I made a very good living. Um, the money was great and I love doing it cause you know, I could be flexible with my schedule and kind of work on my time.
Stephen: [00:12:34] Was that Ebay only or were you starting to dabble in Amazon too?
John: [00:12:38] No, um, didn’t do Amazon. I was just to an Ebay and craigslist and local apps and you know, still selling to the sporting goods store
Stephen: [00:12:46] and you know, when you compare selling to the sporting good stores versus local apps because, you know, I watched Stephen stuff have um, a resale killers and they really have a lot of success with local apps. I mean, it’s incredible what they do. And now I think some of it’s market dependent and their choice of goods. I think that’s so smart. For what they’re selling because that market, um, do you have as much success with local apps as you do with the plate? Again, I guess is an easy, no pun intended because you know it, right? I mean that’s generally right. How about local hops for you?
John: [00:13:21] I’m kind of picky with what I do. High end tools or just something weird. I’ll put it on there. Honestly, most of the stuff now it just goes straight to my website and then, you know, the sporting goods, it’s such a specific thing, but somebody might need that isn’t a good fit for my website that I think it’s played against sports.
Stephen: [00:13:41] OK. And so you did it for a year. What went into the thought process? Did the possibility of having your own website come up?
John: [00:13:51] A handful of people doing it in Cincinnati, but just we’re not doing a good job of it, in my opinion, the websites more user friendly and they were still just getting amazing money for this stuff that really wasn’t a good fit for Ebay or local apps or anything like household goods and just a lot of just random things.
Stephen: [00:14:12] I’ll give an example, something that I, I just want to make sure I get it in my head what you’re thinking.
John: [00:14:17] Our furniture is a good example.
Stephen: [00:14:19] Sofa, Sofa. Most people would put it on craigslist and then get creeped out by the people from other countries telling them to take their, you know, hey, I’m going to give you this a money order for more money,...