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How to Make Money From Ebay and Amazon Without a Product to Sell

How to Make Money From Ebay and Amazon Without a Product to Sell

For as long as I can remember, I have been around professional sellers on Ebay and Amazon. They have been selling 6 to 7 figures worth of items every month for the past few years.They generally purchase products from China, label them with their own brands and sell it on Amazon. Some of them now have well-established brands. I have seen them working hard, procuring, organizing, sorting, labeling and shipping stuff day-in and day-out. While I wanted to be able to have a business that makes money like they do, I could never see myself putting in 18 hours a day for my business. Call me lazy if you wish. I call work-life balance.

I was once talking with a friend (who happens to be a hardcore techy) about the possibilities with Amazon and Ebay and how my other friends were making bank. He did not believe in selling online as he was never into customer service. However, he did tell me something that changed my work-life forever after that moment. I now put in a few hours a week on a side business and make decent income without having a product of my own.

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How to buy and sell without a product

I am buying and selling online, but I do not have a product. I sell about USD 3K a month. No, I am not selling a consultancy or service either. I am selling used textbooks — but I do not have to keep books with me or procure them like any other seller has to, or wait for a buyer to purchase from me. My model is as easy as 1-2-3 and it has been working great.

My process is simple:

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  1. I find a book being sold by website XYZ.
  2. I find website ABC that is buying that book at a price higher than XYZ’s selling price.
  3. I place an order at XYZ, get the book, and sell it to ABC.
  4. I keep the difference.

The secret is finding books that are being bought by websites at higher prices. This is extremely tough to do if you do not have a technology aide. However, thanks to my techy friend, I was introduced to such technology — called Flippiness.

This is not a get-rich-quick scheme

Flippiness allows users to find special combinations that we call a flip. Flippiness has a free plan where you get flips that make you less than 5 bucks per flip. But if you are serious about making money this way, I recommend no less than the Gold plan, which costs 100 bucks a month.

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Like any other business, you need to be careful. You need to understand that a website will only pay you if you send them a good book. No one is going to pay you what they quoted if you send them a book with any of the following flaws:

  1. Different edition (international or an older edition)
  2. Different cover (hardcover vs. softcover)
  3. Poor condition (some sellers have torn books or loose leaf books)
  4. Different ISBN (ISBN is the number that uniquely identifies books)

You will still make these mistakes knowingly or unknowingly for the first few times. You will, however, learn from your own experiences. There is a helpful community of people who reply on Flippiness. If you are a Facebook user, you can join it too and get some help when you have a question.

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Is this for you?

You are the only person who can answer that. I’d recommend that you not put in $100 a month to start with. Sign up as a normal Bronze user and flip a few cheap books. Decide on how much you want to invest ($50 is good to start with), and only buy a book cheaper than that. Send the book out and see if you made any money. You will also get acquainted with the process and the amount of work it requires from you.

Once you have flipped a few books, then you can decide if you want to continue. If you feel this is for you, then you can start putting in more time and money — and reaping the benefits.

Featured photo credit: Pexels via Splitshire via pexels.com

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Mukesh Agarwal

Professional Blogger

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Published on September 17, 2018

How Being Smart With Your Money Leads to Financial Success

How Being Smart With Your Money Leads to Financial Success

Achieving financial success is not something that just happens. Maybe if you win the lottery or something, but for the average person like you or me, it comes from a series of small steps you take over a long period of time.

With each step, you form a new smart money habit. And with each smart money habit, you build towards financial independence.

So what sort of habits can you form to get on that path? Let’s take a look at smart money habits you can start today to get you closer to a financially independent future.

1. Avoid being “penny wise but pound foolish”

It’s tempting to try saving a couple cents here and there when buying small items. However, that’s not where the real money is saved. You’re putting in extra effort for something that doesn’t move the needle.

You get the most bang when you’re able to cut down on your bigger bills. For example, finding a lower interest rate for your mortgage could save you $50+ per month. And cutting your transportation bill by purchasing a cheaper car or taking public transportation can provide large gains as well.

So, look at your recurring expenses such as housing, transportation, and insurance, and see where there’s wiggle room. It’s a much better use of your time than trying to pinch pennies here and there on smaller purchases.

2. When you want something big, wait

Impulsivity can get you in trouble in most aspects of life. Finances are no different.

It’s human nature to see something and want it right then and there. It starts as a kid in the checkout line at the grocery store, and it continues on through adulthood.

We get an idea in our head of something we want, and it’s hard not to go out and get it right then.

A good example is wanting a new car. Perhaps you’ve had your car for several years. It’s crossed the 100k mile mark. Maybe maintenance is due, and you’re annoyed that you need to replace the timing belt or purchase new tires.

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So, you get the itch.

You start digging around online, and you realize you could trade in your current car for something newer and more exciting… all for a few hundred bucks a month. Then you get obsessed.

Here’s where you have to take a step back.

Your newfound obsession is clouding your judgement. Rather than giving into the impulse, wait it out.

Set a timeframe for yourself. Maybe you come back to the decision three months down the road. See if the obsession lasts.

It might, but often, a funny thing happens. Often, you forget about it. And often, you find that the new car wasn’t a need at all.

The impulse faded. And you just saved yourself a ton of money.

3. Live smaller than you can afford

You finally get that big raise. And you want to celebrate – and why not?

You’ve been looking forward to this forever. And after all, it was all due to your hard work.

That’s fine, splurge a little. However, make it a one-time deal and be done.

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Don’t get caught in the trap that just because you’re now making more money, you should spend more.

Too often, people get more money and feel like they that gives them the means to buy a bigger house, a bigger car… you know the drill. Resist.

The fact is that living smaller than what you can afford is one of the fastest ways to build savings.

But if you constantly upgrade as you begin to make more, then you’ll never get ahead. You’ll just build up more debt along the way and have just as little wiggle room as before.

4. Practice smart grocery shopping

Food… it’s one of the biggest portions of any budget. And if you’re not careful, it can be one of the biggest drains on your wallet.

But luckily, there are a few things you can do to ensure that you stay smart with your money when buying groceries.

Create a grocery budget

Set a strict weekly grocery budget. When you know how much you can spend on groceries, you can then plan your weekly menu around it.

Once you know what all you need, you can go shopping and keep a running tally as you shop to ensure you’re on track.

I tend to do this in my head, rounding for each item. However, writing it down as you go would probably work best for most people.

Make a list… and never deviate

Never go to the grocery store without a list. If you go to the store with a ballpark idea in mind, you don’t have a true ide of what you need.

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You’re not well-researched. You don’t know what the sales are. As a result, you’re going to make decisions on the fly.

These impulse decisions will lead to overspending, which will derail your grocery budget.

Eat before going grocery shopping

It’s also important to eat prior to going to the grocery store. Hunger is a powerful force.

If you’re shopping on an empty stomach, everything is going to look good. In particular, you may find a lot of ready-made, processed snacks will look enticing.

After all, you’re hungry now and that food is easily available. So subconsciously, you may lean towards those items.

Unfortunately, not only are those items typically less healthy, but they’re likely more expensive. You pay for convenience.

However, when you eat prior to shopping, then you’ll shop with a clear mind. Your hunger won’t cloud your judgement, influencing you to make poor decisions like a cartoon devil resting on your shoulder whispering in your ear.

This makes it much easier to stick to your grocery plan.

5. Cancel your gym membership

Now that you’re all set on your food, it’s time to get smart about managing your budget in terms of physical fitness. And let’s begin by avoiding the gym. The gym bill, that is.

The average gym membership costs around $60 per month. That’s $720 a year.

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Yet, two out of three gym memberships go unused. That means two-thirds of people who have a gym membership are literally giving away almost a thousand bucks a year. It’s crazy!

I recommend seeking an alternative. One good alternative is to look into fitness streaming services.

Streaming services allow you to stream hundreds of workouts like Insanity and p90x, right in your own home for around $10-20 a month. That’s $40-50 less a month than the average gym membership.

Of course, then there’s the free option. The internet is full of free workouts that you can do on your own with minimal or no equipment.

For example, there’s the Couch to 5K program, that I personally used a decade ago to ease myself from couch potato to running my first 5K race. If I could do it, anyone could.

Then there are free resources like reddit that have limitless information on workouts. The Fitness subreddit has done all the research for you, populating workout tips and detailed workout routines for anyone to use in their wiki.

There are several routines that require no equipment. And you can join in on the subreddit to become part of the community, making it easier for those seeking comraderie and encouragement in their fitness goals. All for free.

It’s baby steps… And baby steps can start now!

I’ve never met anyone that can’t stand to be a bit smarter with their money. And on the flip side, anyone can get smarter with their money. But remember, it doesn’t happen all at once.

Begin by fighting your impulses. Prepare for the week and be smart at the store. And cut monthly expenses like gym memberships that are overpriced and you probably aren’t getting your money’s worth out of anyway.

The devil is in the details. And the details can change your lifestyle and prep you for a financially independent future.

Featured photo credit: Unsplash via unsplash.com

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