Mistakes are going to happen. Every business makes then to some extent and especially this type of business of speculative buying and selling. The key is to understand the mistakes, remember them, move on and recover from them Once you understand that mistakes will happen and you get over the fear of making a mistake you'll be able to grow your business much larger because you are not buying on such a restrictive mind set. Taking risks on some of the bigger items, higher ROI, higher ranking items, items with no sellers, etc are how a lot of home runs are made.
Sometimes a mistake is something you just end up making very little on, breaking even on or even sometimes you take a loss, Of course you do your homework, research items and try to minimize these losses but when they are made just understand that in the grand scheme of things it's a minor hiccup along the road to increasing your business.
An example mistake I made was to purchase a certain toy for $15 that was selling for $40. About a 50k rank. I bought 10 of them. I got the item sent in and the day before my items arrived at the warehouse AZ came into stock. AZ remained in stock until I had the items returned to me before LTS fees started. I am now the proud owner of a dead item as the price has never recovered and it's been just over a year now. These items will get donated Toys4Tots this year. Yeah it sucks to make a $150 mistake, but it's not the end of the world and I'll move on.
Now consider that was just one mistake out of several dozen (maybe more) I have made over the past year and it's still not going to slow me down, it's not going to keep me from taking a risk and it's not going to bother me. I'll absorb the mistakes because the rewards for taking the risks have far outweighed the costs. Everyone likes to talk about their successes but don't like to admit their mistakes. I make mistakes, a lot of them, and I will continue to make mistakes while putting more money in the bank.
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