Nikonomics - The Economics of Small Business

246 - Costco's Big Secret: How to Buy Everything 90% Off with Shannon Jean


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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

  • ...more
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    Nikonomics - The Economics of Small BusinessBy Nikolas Hulewsky

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