When it comes to reselling, a point that many people miss is the importance of minimizing time for holding a product. Let's look at this through some simple math.
Why selling faster is more important than selling more
Here is math on products bought for $2500 solid within 30 days at a 50% margin
Moving product faster but at a lower ROI
Now let's look at moving your product faster but at a lower ROI. A lower ROI could be done two ways either through a lower revenue number or higher cost. In this example lets assume your costs go up from $2500 to $2800.
The example above shows that even if you spent $300 extra each time buying products you still make a lot more money in that month. The example highlights the importance of moving your product faster.
Now for the million dollar...how to move product faster?
There are three simple ways of doing this:
- Pick products in demand
- Choose a good selling price
- Cross list on multiple platforms
To learn about how cross listing can help you sell faster go here: Cross listing lets you control Google searches