What not to buy: high-competition categories to avoid

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Join me, Nik (https://x.com/CoFoundersNik), as I interview Shannon Jean (https://x.com/@ShannonJean), serial entrepreneur and auction reselling expert who has helped over 1,700 people in his $5/month mastermind start profitable reselling businesses from scratch.

Shannon reveals how to make money with auction reselling, liquidation pallets, and government surplus deals—what I believe is the most accessible entry point into entrepreneurship in 2024. Whether you're looking for side hustle ideas, want to quit your 9-5, or need a proven system to flip products for profit, this episode is your complete roadmap.

What You'll Learn:

• The TWO commandments for profitable reselling: "Never buy anything unless you already know what you can sell it for" and "Buy with math, sell with emotion"

• How to research auction deals on B-Stock, Costco liquidation, Gov Deals, and liquidation.com

• Why retail price is a lie (and how to calculate TRUE market value)

• Real examples: $206,240 MSRP sold for $4,200 | $1 investment turned into $5,000 profit | $3,200 products bought for $326

• The credibility funnel system you MUST build before buying your first pallet

• Why 95% of resellers fail (hint: it's not lack of capital or product knowledge)

• Seasonal arbitrage strategies for maximum profit margins

• How to avoid the $34,000 mistake that kills new flippers

• What NOT to buy: consumer electronics, vacuums, exercise equipment pitfalls

• Live selling strategies for Whatnot, Poshmark, eBay, and Facebook Marketplace

• How a high school junior made $10K/month reselling furniture