From running his bookstore to launching a successful online re-selling business selling all sorts of media, including books, magazines and video games, Matt talks us through his passions and challenges, and his unique long-term goal with the re-selling business. He shares with us his experience and interests in growing the business as well as specific tips to start your very own online re-sale business!
From Half.com to Amazon
From early days, Matt had an innate passion for content and books. From magazines to video games, he enjoys seeing how plots develop, how mysteries unravel with characters in a narrative as well as learning more about history. While working at the reference desk in a public library while in college, he started re-selling books which were discarded or donated on Half.com. His big break came when he sold a first edition Charles Dickens book titled New Stories, which he sold for $500. This was the moment he'd realised the monetary value and significance books provided. From then on, he continued selling books on the side.
His passion for re-selling books got him connected to a books dealer named Kim, who introduced him to others in the book re-selling business. With this rich network of book re-selling contacts, Matt has grown his business and is currently partners across a few book stores.
Influencers and inspiration
A few influencers Matt follows include is Driftlist books, Eddie Nix, Yesterday's Muse by Jonathan Smalter and Heather O'Donnell, who does Honey & Wax. These top names in the game can also give you some tips as you start your re-selling business, as they have been in the trade for a long time. Aside from influencers in the re-selling game, Matt gets his inspiration from authors of history and literature books, as well as the ideas discussed in these books. He enriches his knowledge network in the re-selling space further through being part of re-selling discord groups, as well as Facebook groups.
Challenges and Solutions in the Re-selling Business
He shares with us that while he aims to hit a quarter million of sales this year, this would not account for the re-selling platform fees. Due to this, he aims to develop other channels for selling. Another challenge he mentions some booksellers face is pivoting online in re-selling, and a listing and pricing software like AccelerList can help such sellers to pivot online seamlessly and to grow their business online.
Matt's Long-term Goals
If you haven't guessed it from his love of books, Matt aspires to own his own bookstore and to build an apartment on top of it. He wants to spend as much time as possible reading books, and he'd love to leave his apartment to travel the country flipping books. He firmly believes that bookstores are fundamental to building a community, as it provides people within a community with a platform to meet, discuss and exchange ideas, which is the basic building block to what holds a community together.
Tips Including Get Your Basics Right
His top advice to re-sellers includes get your basics right, such as a solid listing software like AccelerList, and to get your technology sorted out, like a scanning system if you're looking to enter the books re-selling business. Matt further mentions specialising in something if you are looking to enter the re-selling business in the long-term or if you are looking to enter an untapped market, which often comes with a higher earning potential if you have done your research. He adds to grow your business, keeping up with learning is important.
"Specialise in something. Become an expert on something no one knows about. I think that's an untapped market. Wherever you live, find out about the local history, poets, historical events, whatever. There's tons of books that are micro press, or small press that explain really significant historical events that are unknown, that don't have a sales history."
While many resellers think about money and profitability when it comes to re-selling, it is also important to think about the impacts of your business, mentions Matt. With his expertise in the library business, he's helped to generate funds to create programmes for children to read and for people to get a GED class.
"I've found personally more doors open when you do good. So that's my outlook."
He shares this and many other gems on The Sellers Corner. Listen to his podcast interview below to get the whole story and more helpful tips on scaling your online re-selling business!