03 Jan Increase Your Reselling Profits: 7 Habits For 2020 That Will Help You Maximize Your Flipping Business
Wanting to increase your reselling profits this year? These 7 habits can help you get there.
Every year at the end of December, millions of Americans are writing out their New Year’s resolutions. According t0 Business Insider of those millions of Americans, 80% will have failed at their resolutions by February.
I know – such a grim statement for the first week of January.
But stick with me and we'll bring the joy back into your flipping business!
Have you ever thought about why so many people don't follow through with their resolutions? I believe it’s because they haven’t created habits that last. It takes a long time to create a habit.
It’s not what you do one day or two days, it’s what you do every day for months and years. It’s failing and picking yourself back up to get back to creating that habit.
Maybe some of you are wanting to flip items as a side hustle. Maybe you are in a job you hate and you want to flip items as a full-time job. Either way, it takes creating habits to succeed at this business.
I know this is a pretty popular resolution around the first of the year, but it needs to be more than that – it needs to be a habit.
Three times a week, Melissa and I put on our running shoes and go for a run together. We plan our schedule around our 3 mile run.
We love getting exercise. It clears our minds and gets us motivated for the day. We enjoy this time to clear our heads and take care of ourselves.
As we jog along, we get tons of ideas and we are able to focus on what our plans are for the week. We have created this habit around our kids and our busy schedule because it helps our business.
It helps us have clarity, strong bodies, and it’s a time Melissa and I can enjoy together.
Not only do new ideas help us move our business forward, but we actually find inventory quite often while running! We have found some really awesome things to flip that were on the side of the road to be picked up for trash! (This bed frame was one of them!)
Make money while we exercise? Heck YES!!
You don’t have to join an expensive gym in order to exercise this year.
We don't have a membership anywhere.
Grab yourself a pair of inexpensive tennis shoes and go for a walk in the morning.
Pick up a cheap exercise DVD if that works for you. Decide to make a habit to exercise this year. It will definitely help your business.
Create A Budget
Every week we get emails from people who are in financial turmoil. They are looking to flip items to either get themselves out of a financial hole they are in or create extra income to get out of debt.
Melissa and I recently had business debt for the first time since we’ve been married and it’s not fun.
We have been working hard to manage our money by budgeting and flipping to knock out that debt – and happy to say we paid it all off last year!
Having debt creates unneeded and unwanted stress.
Most of you know me and that I don’t like being on someone else’s schedule. That’s why I like being my own boss. Budgets can sometimes feel confining. But honestly, a budget can actually give you permission to spend your money.
Having a budget creates peace. Dave Ramsey always says, “Tell your money where to go, instead of wondering where it went.”
Budgeting your money and spending less is good for business. When we go out to the flea market or on our 127 Mile Yard Sale, we have a budget we can spend on inventory. This helps us to be mindful of what inventory we purchase.
I do have to admit, there are deals that I sometimes can’t pass up. (And they sometimes get me in the dog house with Melissa.)
When that happens, we have to move money around in our budget for my flipping shenanigans..
There are hundreds of budgeting tools to use.
Make a budget this year. It will definitely help you have more money for your flipping business.
Pray Every Day
Most of you know, my faith is very important to me and my family.
Prayer is a big part of our success in this business. It helps us keep the perspective that we are not in control of any of our success.
God is in control.
It puts us in a mindset to trust and know that we are walking in the right direction with our business.
When we want to change direction, we ask God to show us what to do. When we make big decisions in our business, we pray about it. We ask for wisdom and God gives it to us.
You may not be a person of faith and that’s ok. But I can attest that getting in the habit of daily prayer has really made a huge difference in our business.
We believe He has all the wisdom and ideas and He gives them to us.
It’s a great habit to get into. If you haven’t tried it, give it a try. You will be amazed at what prayer can do for your business.
Talk To Yourself
Ok, I don’t mean talk to yourself like a crazy person! I mean, tell yourself positive things and believe you can do them!
When I first started flipping large items and I had to learn to freight ship, I had no idea how to do it.
In fact, I sold a large table set with the idea that if it sold, I would have to figure out how to freight ship.
Well, within a month, it sold and I was forced to learn how to freight ship it. I had to talk to myself and tell myself that I could do it. I had to believe I would find a way to figure it out and I did.
Today, I have taught hundreds of people how to freight ship their items all over the United States. If I hadn’t been able to talk to myself and believe I could do it, my business would have been dead in the water. I would never have been able to support my family or help others to support their families.
Everything starts in the mind. What you believe matters. If you tell yourself you can do it and you believe you can, then you will.
That’s why we have Pro Flipper shirts we give out to our students. We want them to see it and believe it. Mindset is very important.
When you hear the negative voices telling you you can’t, change that thinking. Dave Ramsey always says, “If you hear something loud enough and long enough, you will eventually believe it.”
Get in the habit of telling yourself you can do it and the results will follow as you will eventually believe it!
Create A System That Works For You
Creating a system that works for you will save you time and help you to be more efficient. Implementing the habit of creating systems is our biggest goal for 2020. We believe this will help us a ton in our business.
We have many people we know that are great at finding items to flip but never get them listed.
When I say never, I mean, they are still sitting in their garage a year later. They have mastered the sourcing part of the business but failed to find a system that works to help them get them listed.
Maybe it’s time they haven’t carved out or maybe it's fear. Whatever the reason, you have to have a system that works for you.
One system that we have put in place (and honestly, it’s something I have to work on more) is to list our items before they get to storage.
Our whole goal is to get our items listed so we can get them sold.
So we take photographs and list them while the item is at our house and then take them over to our storage unit where they stay until they sell. I’ve even taken pictures of items in the store before I get it home!
Whatever system works for you to get your items sourced, cleaned, photographed and listed, it’s wise to put that system in place. One of our successful Flipper U students, Matt, says:
Rinse & Repeat.
Whatever system works for you, put it out on paper and start making it a habit and repeat it over and over! It will make a world of difference in your flipping profits and you will be a master flipper in no time!
Listen To People Who Are Winning
If you ever read autobiographies or listen to podcasts with successful people, they surround themselves with winners.
Have you ever heard your mom says, “You are what you eat?” This is exactly the same concept when it comes to surrounding yourself with successful people.
If you are constantly around people who have a losing attitude, you will find yourself thinking that same thing about yourself.
If you surround yourself with people who win and talk about winning, you will get a mindset that you can win too.
When I go running with Melissa in the morning, we are constantly listening to successful people and their podcasts.
Why? Because we want to think like them, believe like they do, and succeed like them.
Have you ever been around someone who thinks the world is ending every second? It’s honestly the most draining thing to be around people like this.
We choose and make a habit of finding people who have a winning attitude and believe they can succeed. Being around people who win is contagious. We get ideas from them and inevitably, we gain inspiration and motivation from people who are winning.
When we are around that and hear that day in and day out, we start to believe it for ourselves. Surrounding yourselves with successful people will bring success in your own flipping business.
Make a list of people who are winning and make a habit of being around them.
Make Time In Your Schedule
Now notice I say make time, not find time. Making time is an action. You actually have to intentionally carve out time for your flipping business. Have you heard the saying, “A goal without a plan is just a wish?”
As fun as flipping is for us, it’s actually work. We have to do the work in order to be successful at it. We have to carve out time to source our items, fix them, list them, box them and eventually get them out the door.
Now don’t get me wrong, we have our own schedule and it’s awesome. But we still have to make time in our schedules to get these things done. There are so many different hats we wear with this business, but ultimately we are responsible for “making” time in order for our business to run smoothly.
Americans in general have their schedules full, especially when raising a family. On any given day, we have to get our kids dressed, fed, and to school. We have to maintain our own homes and our vehicles, making sure everything is working and any other number of activities that we have to get done.
Making time in our schedule for what we are passionate about is a must. We have to create that time to keep our business flowing.
Sit down and look at your schedule. Find out where you can make time in your schedule to improve your flipping business. Whatever time you have available, mark it off as your flipping business time.
We live in a world with so much technology that you can take advantage of. Have Siri give you a reminder to put aside an hour of your day to source items.
Put it on your smart phone calendar and have it give you a reminder. Maybe you have kids and you need to get things listed. Put the kids to bed and send yourself a reminder to take an hour to list your items.
There are a ton of ways you can “make” that time in your schedule to be successful with your flipping business. You just have to do it. Make time today to work on your flipping business. By this time next year, you will be glad you did!
If you take time this year to create these 7 habits for 2020, you will be amazed how much more efficient you will be, how much greater your profits will be, and how much peace you will have coming into the new year.
Don’t make a New Year’s resolution, but make habits that last. If you work at consistently adding these habits to your flipping business, you will be amazed at the results!
If you are looking to take your flipping business to the next level and increase your reselling profits, check out our FREE intro workshop now.