089: From Zero to $20,000 a month on eBay – David Kosciusko

Dave is an Ebay power seller and owns 2 cell phone repair stores called Buycellfix. He also teaches people around the country how to make money on Ebay selling used cell phones. He currently sells $20,000/month on Ebay.

Interesting Notes

  • Dave has two brick and mortar stores. They are open seven days a week. And Dave works only three hours a week on the said businesses.
  • He also has an eBay store. Dave posts ads on Craigslist and Facebook groups looking to buy used cell phones for cash. Then people would call him and he would buy. He would price to make a profit and then sell it on eBay.
  • 50% of the cell phones he buys are broken. But, they don't fix the phones that they buy. When they do repairs, it is strictly for profit. But when they buy a phone, they don't fix it to sell.
  • The $20,000 a month only took him three months to hit after starting on eBay. He started off with $300 in an envelope. It went to $250,000 sales after eight months that he has started.
  • Dave is 35 years old now. Before the age of 30, he went bankrupt twice. He lost their house on a market crash in 2008, the same year their daughter was born. He failed for the third time in business.
  • With his wife and daughter, they moved into a room in her mother's basement. They only have a TV, a coffee table, and a couch as their furniture. That was their living quarter. When he landed a job making only $300 a week his wife would go to a yard sale to find things to furnish their quarter.
  • He just moved into her mother's basement. He lost his business. He does not have a decent job. He had nothing. He had zero money. He and his wife learned how to eat spaghetti that they bought for a $.30 box. They only had a $30 grocery budget. In other words, Dave hit the rock bottom.
  • He got scared because he seemed not to know what is going to happen in his life. He did not feel like a man in the family to allow them to be in that position. He knew he had to do something.
  • To get over his fear, he wrote out a list of all the positive traits that he wants to have that he did not have at that time. Then he recited a credo every day to convince his self to get up in the morning and do the battle that he needed to survive.
  • His credo is: “I overcome obstacles easily. I will do everything it takes little by little to achieve my success. I do not lie to myself or to others. I keep my mind and body in shape.”
  • Dave has been wanting to sell on eBay for a while. So, when he got broke, he started to read more books so he can learn more. He also read books on eBay.
  • One day it was their anniversary. He bought his wife a Coach purse for $30 at a yard sale. Then he looked into eBay just to see how much it is worth. It amazed him to see that it is sold for a $230. He did not expect such profit.
  • Then in the next week, together with his wife, they went into a yard sale. They bought four designer purses. That night, Dave listed it on eBay. All were sold the next day. It gave them $200 for the four purses.
  • The next week, they went again to a yard sale. They bought another bunch of purses and made $400 profit in a day. They realized they found something profitable. And so each week they started to go out. It went out for a month and a half.
  • Then Dave experimented with putting some ads on Craigslist to see if he can expand. So he put an ad on Craigslist that says “I buy your designer purse!” People started to sell him designer purses. So he did not have to wake up at six o clock and go to a yard sale. Instead, the purses are coming into him. He started to get more purses and more sales.
  • Then Dave thought about what else could he sell other than purses. Then he realized that cell phones are big. Besides, he is a cell phone lover. So he put an ad on Craigslist that says”I'll buy your cell phones, cash!” Within his first month, he gets $10,000 in sales of buying cell phones. The month after, he hit the $20,000. And within eight months, Dave gets $250,000 working on the couch in her mother's basement.
  • Dave got his own share of bumps selling on eBay. He was buying stuff, but he was not sure if it was real or not. He was just taking chances and hoped that vendors are not lying to him. One day he learned a hard lesson in buying. He bought a Chanel purse from a lady. He hoped he could make a $1,000 profit. The sweetness of the deal blinded him. Within two hours, he got a horrible notice from eBay that says: “Notice: Violation of Counterfeit Merchandise. A warning like this would result in suspension of your eBay account.”
  • From thereon, he learned his lesson. He spent the whole week after doing research about Chanel. He even took an hour drive just to visit Gucci, Louis Vuitton, and Chanel store and looked at the purses. He would pick up the purses and ask the store person to tell him something about the purse. He would look at the seam and the zipper. He studied the stuff and that is how he figured out what is real and not.
  • In the next month, he bought two real Chanel purse. He paid a $1,000 per piece for the two pieces Chanel and made a $4,000 per piece. He ended up making $7,000 profit for two purses that only took him about a half an hour transaction.
  • Now, he is earning $50,000 a month with his businesses combine. He and his wife have traveled to a lot of U.S. cities in the last year. They met some incredible people and friends who are celebrities now.
  • Dave started his phone selling course, just three months ago. He has been training two of his employees on phone selling. He took the manuals and training stuff he used for his employees and turned it into a course.
  • His course applies to anything you buy and sell. It could be laptops, tablet, or even antiques.
  • Dave would be making about $40,000 a month on eBay. He just hired a dropshipping coach so he can experiment with that. He would also continue to sell his phone courses.
  • Dave's ultimate goal is to make $100,000 a month with his businesses by the next six months. On July next year, he is going to meet one of his mentors. The said mentor made his first million at 18. He will train Dave to get his sales up to a million a month.
  • When Dave goes to conferences, he is not just looking after the learning. But, sees to it that he is building relationships and connections. Meeting face to face is already building a strong relationship. He thinks that it is one of the most powerful things.
  • This year, he went to eComChicago Conference. There, he was able to meet face to face with one of his mentors on eBay – Lynn Dralle, The eBay Queen of Auctions. He got his picture taking with her and so with Jason Smith. He was able to have a Karaoke night with those eBay people he admired and followed.
  • Ron and Dave were able to meet face to face too during the eComChicago Conference on October 21 to 22.

Advice, Tips, and Tricks

  • You need to convince someone to sell you the phone for $130 so you can flip it for$208. And make yourself at least a $100 profit.
  • Get yourself a mentor.
    1. You need to know that it is important to have a mentor.
    2. Be active in seeking a mentor.
    A mentor is hard to find. One of the best ways to get a mentor is to build a relationship with someone. Establish a friendship with someone. Meet that someone face to face sometimes.
    3. Be specific in asking your questions.

Quotes

  • “It's all about buying, and moving it quickly.”
  • “The tricky part is in the buying.”
  • “If I am good at training my boys then I'll be good at training someone else.”
  • “When you hit that point where you can't go any lower, you just appreciate things so much.”
  • “Whatever you appreciate appreciates.”
  • “When you are grateful for what you have, even if you don't have a lot, you seem to attract more wealth into your life.”
  • “When you are broke, your mind just crumbles. You are in constant state of anxiety attack because you have nothing.”
  • “It was not just sunshine doing eBay business. There are bumps in the roads along the way.”
  • “Don't be afraid to make some losses in the business.”
  • “Nobody makes it big alone!”

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