I have tons of boxes shipped in to my house almost every other day. They are filled with inventory of all different types and kinds. A lot of people come to me asking “What is the one thing I have to sell to make me millions of dollars?” You have to understand that it’s not about the item. It’s about the market. When you figure out what people want and what they will pay money for and combine that with your experience, you’ll have a perfect fit.
When I started as an entrepreneur, I was always looking for the perfect product. If I showed you what my inventory was, it would not make you successful. The key is finding something you’re good at and matching it with what people need. Once you do that, you can make a lot of money. I make tons of money every day, and that’s not to brag or say “I’m so amazing!” It’s the truth. It’s something I almost killed myself over to get to a point where I could make this work.
Now, what if I have no money at all? I’ll show you exactly how I did it.
Go into your living room, or your bedroom, or your front porch. Pick a random object. I have a metal chair on my porch. Do I need this chair? It's nice to have, but do I need it? If I don’t, I’m going to go onto eBay, look for outdoor chairs that are similar and see if they are selling, and if they are, sell it on eBay. If you don’t have any money and don’t know how to get started, start selling things you have. You need cash to generate cash.
Once you have enough cash, you can start getting boxes of inventory that make money for you while you sleep. But in the beginning, you need to get rid of anything and everything that you don’t need. Here’s a bike I haven’t touched in two weeks—sell it. That’s $25 sitting right there, rusting. Would you leave a $20 bill and a $5 bill just sitting on your porch? No way! You would pocket it, use it, invest it. If you’re smart, you’d use it to buy inventory and build passive income.
What else can I sell? Literally look in your room, go through each object, and ask yourself if you really need it. Do I really need a candle holder? If I don’t, I can go to Amazon or eBay and find out if they are selling. If it has recent reviews on Amazon, you know you can sell it. You don’t need stuff if it’s just sitting there.
If things are just sitting, it’s cash on the counter that you can’t use. You need to sell it, turn it into money, and build up a large amount of it. Use that money to buy a product you can buy a lot of. Shoes, coffee mugs, etc. Then send them to Amazon FBA, and it’ll make money for you on its own.
I knew one guy who had over 100 DVDs sitting around his house. He was just starting to sell on Amazon. I said, “Do you realize how much money you could turn those into if you sell them? You can use that money to purchase other things to create passive income.” So we went on eBay and searched one of the names of the movies, it was A Walk to Remember. 8-12 had sold in the last week for about $4-5 each. That doesn’t seem like much, but if you have over 100 videos and you make $5 each minus a couple bucks for shipping, that’s $300. They’re not being watched; why not turn that into cash?
Once you have that cash, you can start making larger purchases. And then there’s the beauty of it: you no longer have to hustle, hustle, hustle to make money. You can’t do that all day, it’s a vicious cycle and it’ll kill you. Once you have that cash, be smart with it. Find a product you know is selling. Post it on eBay or Amazon. Then it’ll sell over and over and over again and make money while you sleep.
Then, while that makes money and it’s supporting you, you have time to go and find another product. You can start building up different product lines and make your money work for you instead of working for it.
Money is a horrible master, but a great servant. Go through your house, find everything and anything you don’t need, and sell it. Get the cash you need so you can take the next step.