Wednesday, June 6, 2018

Feeling Discouraged Over My Retail Arbitrage Side Hustle (Mindset Blog)

Maybe you are thinking of starting a side hustle and want to look up the pros and cons of starting your own hustle before you start so you know what you are getting into.  Into today's post I am going to share with you some problems you may face when starting your side hustle through Amazon FBA.  Before I get into it, I have to say for the most part FBA has been great, I have had a couple problems that may affect you when getting started if you are on a budget.

The first problem I had (and still have) is where I shipped a package out to Joliet, Illinois.  The problem first occurred when I looked about a week later at the tracking info and noticed that it went to Baltimore, Maryland.  The package was left at the FBA center in Baltimore, so I gave Amazon a call since they work with UPS on shipping and making sure the items go to the right place.  I called Amazon about the problem and they said that they would ship it to Joliet with the same tracking number.  Having seen no progress for a week on the shipment when I looked at tracking on the UPS website I gave amazon another call.  I was then told the shipment was received in Joliet and had a different tracking number.

So I go and put in the tracking number to find that it still hasn't even left Baltimore (in fact as I write this its about another week or so later and its still sitting in Baltimore according to the tracking info).  I know this case is really extreme and probably rarely happens but it is a pain in the ass.  I am going to have to use more time and give them another call to find out what to do about it.

The second problem I had isn't as major but can also be a hassle to you if you are doing retail arbitrage, and depending on how much money you have to invest in it can really hurt you for a while.

The story here is quite simple, I went to look for something else to flip at Marshalls, and within a few minutes I found some Lacoste sandals.  These only cost me $25 per pair and were selling on Amazon for about $55.  This meant I should've been making a little over $15 profit on each pair (I found 3 pairs).  The selling rank was decent to (somewhere around 25,000).  Being a product I thought would be great, I bought all 3 on the spot and was super excited about how easy and fast it was to find them.

This time everything went right on my shipping and arrived at the FBA center like normal.  Only this time, the day my product got there, other FBA sellers started to lower their price, which means that mine either won't sell, I will only make a few dollars, or I will lose money.

My mindset that can help you get started
Now that you have read my story/experience with my current problems with retail arbitrage you know a couple obstacles you may run into when you start.  Based off of these situations, you may be scared to start.

Yes you will have problems when you start.  You may be confused about how to do something with your shipment, or you may even have as scenario worse that mine.  But guess what? It will happen.

You must be prepared for it and expecting it.  However your mindset should always be that it is a lesson to guide you, rather than something trying to hold you back.  Every wall is just a chance for you to build a ladder to get over the wall.

As stated in a previous blog, the universe has your back.  Maybe it is just trying to see if you will keep going or give up when it gets tough.  What I have found helpful is to work with the universe as a team and go even further, even if it is hard and scary!

Closing thoughts

I hope this helped you understand how to deal with challenges that you face when starting your retail arbitrage side hustle.  Feeling discouraged is perfectly normal (especially when you start) but by realizing that you and the universe are a team, you will be able to take daily steps to move closer to what you want to achieve!

Thank you so much for reading, as always,
Make the best of today,


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