Everyone loves extra money. And well, we have all reasons to. When we have a little bit of that ‘extra’ money, we tend to be more carefree and have a free hand on expenditure. Although spending your money right is completely in your hands, this article is about how you could be making the extra cash along the way by following a few simple steps.
First of all, I’d like to make this gut clear that there’s nothing like ‘easy money’. And I couldn’t have emphasized on this fact harder than in this post- The Truth about “Easy” Money. Making money, requires time, effort and patience. If you’re looking for money without enough effort, this blog is definitely a wrong place to be.
By “flipping” I directly mean “re-selling”. Also, another disclaimer before we get started here. This is NOT a sustained or even a proper business model & I do not recommend to make this your mainstream income. The flip trick is only to fill the extra voids or get you a little bit of extra cash that you could use the way you want to. You might want to invest it, you might want to buy a service, you might want to scale your existing business, you might want to pay and learn a new skill or you might just wanna be fancy and buy shoes or watches. There’s no harm or no good in doing any one, but this, in no way is going to take over the importance of an actual business. According to how I put it together, an actual business involves a product or a service that the customer pays for in return.
So, having this clear that this isn’t a business model, yet holds the potential to make you pretty much self-dependent, lemme now tell you what I exactly mean by flipping or reselling. Later to which, I would mention all the things I have flipped- that made me money.
Flipping, in simple terms, is buying something at a low price and then selling it for a higher price tag. One of my friends picked up cheap stuff (low cost) on eBay and flipped them for a little higher on portals like OLX. That wasn’t a fortune but he made enough to stay out the whole weekend and spend on movies and dinner. This version of making money might not involve a lot of profit but I totally believe in “something is better than nothing”. And at a point, it’s not even about the money. You get to talk, deal and sell things to new people- which gives you massive communication experience and with time, makes you an extrovert. And once you’re an extrovert you could directly call up wholesale dealers from across India and setup a catalog for yourself and start selling at your desired rates.
How to get people to see and buy the product
Let’s start with creating an Instagram page (I’m a huge fan of Instagram and see it as the future of social media). Name it whatever you want. Done? Now head over to sites like eBay that sell items for a cheap rate as compared to the e-com giants like Amazon or Flipkart. Chose nine favorite items that you personally like and save their pictures to your phone. Also, note down the product description and the price for which it is available on eBay.
Once you have the nine items down in your gallery and noted down in an app like keep, its time to put it on the Instagram page you just created. Turn by turn, upload the images and add a proper description about the same. Copying and pasting the same eBay description is totally fine but if you can think of a better way to describe the product, the stage is yours! Next, put the price of the product at the end of the description. Do make sure that the prices you’re putting on the store aren’t no-brainers and the prices make sense to the public. You might want to keep the profit margin extremely low as to first see how stuff works. Once you get the hang of it, you might wanna increase the prices as per your liking and observation. Also setup a payment method through which the person could pay you. The most preferred and the one that’s widely being used is Paytm. Once you get the customer to pay for the product, without wasting any time, you could head over to the same product on eBay and order the same for him/her. One catch here is products from eBay usually have an invoice attached to them (in most cases). Here’s how you deal with this-. While ordering, every e-com website offers a section called “special note”. Simply type in “This product is a gift. DO NOT attach the product invoice/bill along with it.” This is still a risky deal but that’s okay as you’re getting experience in return. Once you’re confident enough, lookup for various wholesalers on Instagram and google and call them up. Tell them about your page and that you’d like to become a reseller by selling their products at a higher price on your page. Such wholesalers work on exactly the same principle we spoke about above. To them, it is more obvious than understood that the product invoice shouldn’t be shipped along with the product. Keep a track of all this and practice selling and communication until you know how to get it just right. Do not focus on profit margins until you’ve practiced this in and out.- just make sure you’re not in loss. Also, don’t miss out to discuss the shipping charges in advance with the wholesaler. In 99% cases, I found it to be Rs. 100 if not Rs. 110.
Right when you have everything setup, ask a few of your friends to give your store a shout-out via their Instagram profiles and I’d recommend posting about the same through your personal Facebook or Instagram account as a third person. Posting stuff like, “I just bought this from @instagrampage and it’s amazing!” with a picture of the item in your hand would work in an epic manner. You might not wanna post this exact way on your own Instagram or Facebook profile but this is a sweet trick when promoting on various Facebook groups. Also, ask a few of your friends to promote it in this manner on their platforms to gain credibility and customer trust.
You might also want to use the location tag on Instagram along with a few (not oo many) hashtags in the comment section of your Instagram posts.
How I made it work for myself
The good thing with me is before executing on something, I make a pen-paper plan and write down numbered steps illustrating my ladder to achieving a specific target. And after doing exactly this, and considering the extrovert that I am, I directly started off by contacting various watch wholesalers in Mumbai. Once I had a proper tie-up with a few couple dealers, I made a catalog with the product’s name and pricing in one of my notebooks. Once I had that ready, without caring what anyone in my WhatsApp/Facebook contacts would think, I messaged every single one of them over a course of one week and had them order directly. If you’ve been following me since long, there’s a high chance that you’d have received a message from me pitching you the watches.
I made close to Rs. 15,000 straight that week alone and could afford to sponsor myself to visit Pune and attend a TED talk with highly influential speakers and also possess a considerate 5-star lifestyle during the travel. Although this wasn’t the only source of income for me at that time, but this has surely been a significant one.
Again, it took real effort to put things together and this, in no way was easy money. Sending customized messages and dealing with the sellers and the issues were worth the experience that’s helping me immensely now.