246 - Costco's Big Secret: How to Buy Everything 90% Off with Shannon Jean
Description
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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
- Why an accountant sold 700+ pressure washers in one year
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This week we covered:
00:00 Introduction to Reselling and Entrepreneurship
06:05 The Importance of Systems in Reselling
11:52 Building Credibility and Understanding Your Why
17:57 Finding Deals and Understanding Market Prices
25:12 Getting Started with Seasonal Arbitrage
27:35 Navigating Consumer Electronics and Exercise Equipment
29:53 Understanding Retail Acquisitions and Auctions
33:02 The Importance of Community and Support in Reselling
39:38 Realistic Expectations and Learning from Mistakes
45:17 Best Strategies for Q4 Reselling
United States
