Reselling DO Review & Random Thoughts
This last weekend I was in the DC Area for the latest Reselling DO put on by Trevor from Tagging Miles. While there is a very clear and defined “reselling world” just as there is is a “miles and points world”, this conference surprisingly didn’t crossover too much. In attendance were about 70 miles and points hobbyists like you who have started reselling businesses to generate miles/points and profit. The normal reselling crowd seemingly didn’t get the memo.
As many of you know, I have been reselling quite a lot more this year and have been focusing on building a side (secondary) business doing it. Some people in attendance were in the same boat and some just did it occasionally. There were even a few people who don’t really resell and a couple who primarily dabble in gift cards.
Among the topics spoken about were:
- Stacking Gift Cards & Getting the Best Discounts
- Inventory Management and Reimbursement
- Using Data to Enhance Reselling
- Preparing for the 4th quarter
- Taxes, accounting, etc.
As you can see, outside of the gift card talk which probably made every miles junkie in the room excited, there was a lot of information that I would consider not so sexy. Well, it isn’t so sexy on the surface, but it is essential to running a successful business selling on Amazon. The truth is that reselling on anything but the smallest scale brings in a lot of issues that you need to deal with.
Reselling as Manufactured Spend
I have written about this before, but reselling isn’t manufactured spend at all. Basically, reselling involves starting a business that requires spend. As someone who has learned to maximize spend, you can then generate miles/points at a high level, but you are purchasing merchandise and (hopefully) selling it for a profit. It is work. Just look at those topics above. Accounting and inventory management? Yuck!
Attend a Conference Like This?
I really enjoyed the conference, because it was very much a miles & points gathering. As I said before, there were very few people attending from outside the miles & points community (shout out to all of the MtM readers I met!) which meant those who were in the room all fell into the same hyper-niche. I think it is important to move beyond hyper-niche groups from time to time, but networking within them and meeting others within them is equally as valuable.
Trevor announced he will be holding another Reselling DO in March of next year, but if you are interested in learning a bit more about whether reselling is for you and are attending the Chicago Seminars in October, then you are in luck. I will be giving a presentation on Saturday entitled, “Beginner and Intermediate Reselling for Profit and Points”. I’ll do my best to make it a great presentation.
I enjoyed the Reselling DO and was intrigued that there is so much interest in a singular topic within the miles & points realm. Of course it probably isn’t surprising given how lucrative reselling can be, but there is a ton of work involved as well.
Were you at the DO? Have you been reselling? Share your experiences and thoughts in the comments!