Yes, you can make money by selling something that isn't yours!
First, let me clarify that I'm not talking about anything illegal in the slightest. What I AM talking about is the use of your own ingenuity and creativity to give you a boost in your income.
It is no secret that the economy isn't doing that well for the United States and if you check the markets around the world as well as the economic status in other countries I'm willing to bet that you'd find that other countries are feelings the financial pinch as well.
Ultimately, the United States and each country that is feeling this economic pinch are made up of the citizens. So when I speak of the United States, I'm talking about me as a citizen of Rhode Island and Joe electrician who lives in Cincinatti, Ohio, and Sally Seamstress in Witchita, Kansas and yes . . . probably YOU in whatever state you live in.
The fact is that each of us could use a little boost in income, especially now when the economies around the world are dropping to lows we haven't seen in decades.
So let's get to the point and what I truly AM talking about.
Just about anyone can build an extra income for themself or their family by selling something that they don't own. Personally, I call it the "Magic of Opportunity". It only takes one example that I ran across in the last two weeks to demonstrate it. In fact, I will give this one away for free and those who decide to do it (because I did not) are more than welcome to adopt this idea as your own.
I went into a BJ's Wholesale store about two weeks ago. I was walking around while my wife picked up a few groceries. Suddenly a nicely packaged box caught my eye. I went over to the shelf and found the newest version of the speech recognition software Dragon Naturally Speaking 10 (Standard Edition). It came with the software, the approved headset microphone and the manual on the CD as well as basic setup instructions in print. Now luckily this is something I was a little bit familiar with just by reading sale brochures on weekends. What struck me was the price. It was $49.99. I wasn't absolutely sure but I was fairly certain that I had seen this product being sold for $99.99. I wanted the product anyway to help me with my blogging and with my law practice so I bought one and noted how many others were on the shelf. There were about eight of them left on the shelf.
I brought it home and tried it out. It was nothing short of fantastic. I knew it would be a big help to me to be able to dictate my work into my computer rather than typing and would save me time and make me additional money in my law practice to boot. Now I knew personally that this was a good product and I could feel good about selling it.
Now I took a few minutes and did my homework. Yes, I do mean a few minutes . . . not hours or days. Just about 15 minutes. I found that the boxed version does, in fact, sell for $99.99 at standard retail. Then I checked a few major reputable online stores to see what it sold for and I found the boxed version sold for $89 to $99. The creator of the program allowed you to purchase just the downloadable program without the packaging, booklet and microphone for $79. The end result. The $49 at BJ's Wholesale was well below actual street sales price.
I went back to BJ's yesterday. There was a whole shelf crammed with the same product.
So, what could I have done in this scenario? And what could you do if you wanted to?
1) If you had a credit card you could purchase the entire shelf of this product (assuming you had the money) and then sell it for $79 for the full boxed edition plus shipping. You could then make approximately $30 per unit. Assume there are only 10 boxes on the shelf. Shoot for 28 days and try to sell them at that markup. List them on Craig's list or any of the other free places the internet offers and you could make $300 just on that one insightful purchase.
Now let's consider a real crafty way to do it.
2) Get the telephone number for BJ's Wholesale Club. Note how many they have available and find out how many they have in their storage area out back. List the item for sale on Craig's List for $79 and when it sells and you get the money from the buyer via PayPal, money order or check, then go out and buy the product at BJ's Wholesale and then package it and ship it under your name. You end up keeping $30 for your trouble for selling something a person could have purchased at Sam's Club. Is this immoral or illegal? No, this is ingenuity at it's best. Many people on Ebay do this everyday and you could too. Though personally I think eBay makes more money than it should and you make less money than you should.
This is the magic of a money making opportunity.
Ultimately there are two ways you can make money. You and buy and then sell which gives you the risk of inventory, OR if you are in the right circumstances you can sell and then buy. If you don't see the second one, then you don't understand the magic of opportunity because ultimately you don't have to wait until you have the product before you sell it. Just call BJ's Wholesale and remain apprised of how many they have in stock and you might be able to continue your little endeavor up to $1,000 or even more just for being a middleman on the transaction and using the "magic of opportunity" to help you become a shrewd businessperson.
You can do this with so many products that are out there it is amazing how much money you can make if you do a little homework, spend a little time, and remain informed.
Remember SBA!
See it! Believe it! Achieve it!
Authored By:
Christopher A. Pearsall
Money Making Entrepreneur, Attorney, and Motivational Speaker
70 Dogwood Drive, Suite 304
West Warwick, RI 02893
Copyright 2008. Christopher A. Pearsall, Internet Entrepreneur and GuaranteedWealth.com
*The Rhode Island Supreme Court licenses all attorneys in the general practice of law.
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