Are You Ready To Quit Your Job to Sell Jewelry Full-Time? - Episode #48

[00:00:00] Welcome to the Jewelry Resellers Podcast, your go-to source for all things shiny, sparkly,

[00:00:06] and of course profitable.

[00:00:08] I'm your host Desiree, and I'll be your guide on this dazzling journey through the

[00:00:12] world of reselling jewelry.

[00:00:15] We'll be diving deep into the art and science of reselling, uncovering valuable tips,

[00:00:20] insider secrets, and sharing stories from successful jewelry resellers.

[00:00:26] We'll explore market trends, industry news, and even discuss how to find those hidden

[00:00:31] gems just waiting to be discovered in thrift stores, estate sales, and beyond.

[00:00:37] So if you're dreaming of turning your hobby into a hustle, or if you're a seasoned pro

[00:00:42] looking to stay at the top of your jewelry reselling game, join me each week for

[00:00:47] insights, stories, and more on the Jewelry Resellers Podcast.

[00:00:54] Welcome to another episode of the Jewelry Resellers Podcast.

[00:00:58] I'm your host Desiree, and today we are going to talk about something that is a

[00:01:05] really hot topic in the reseller community in general, but we're going to focus on

[00:01:12] it from the jewelry resellers perspective, and that is when is it time to quit your

[00:01:20] job and become a full-time jewelry reseller?

[00:01:24] Like I said, this is a hot topic no matter what kind of reseller you are because I think

[00:01:30] this is the goal for so many people.

[00:01:33] And there are definitely some things to think about if you are considering making this

[00:01:38] transition into being a full-time jewelry reseller.

[00:01:42] Now jewelry reselling has its own set of unique challenges and considerations, and

[00:01:50] we're going to talk about those today.

[00:01:52] But before we get started, you know I always like to remind you to join our newsletter

[00:01:58] family because I send out a newsletter every week and I try to make sure that I keep

[00:02:05] you up to date on things that are happening as it relates to jewelry and as it relates

[00:02:10] to reselling and anything else, news, updates, product announcements, whatever.

[00:02:16] So when you join the newsletter, I will also send you my personal list of the 20

[00:02:23] best-selling vintage jewelry brands that all resellers should know.

[00:02:27] And this is from my own experience.

[00:02:29] This is from my own tracking and data over the years.

[00:02:33] And I want to send that list to you for free.

[00:02:36] So if you're interested in joining our newsletter family, all you have to do is head on over

[00:02:41] to the website and that is JewelryResellersPodcast.com.

[00:02:45] Again, that is JewelryResellersPodcast.com.

[00:02:49] All right, let's get back to today's topic.

[00:02:54] And because so many of us want to do this full-time because we love it so much,

[00:03:02] we have to be very careful that we don't make a quick decision or put ourselves in

[00:03:09] a position where we may have to figure things out that we didn't think about ahead of

[00:03:18] time.

[00:03:19] All right, so what we're going to talk about today, what I'm going to share today

[00:03:23] are some things I want you to think about if you seriously are considering being a

[00:03:28] full-time jewelry reseller.

[00:03:30] Yes, it can be done.

[00:03:31] I know many people who do it.

[00:03:34] And I do it at this point in my jewelry reselling career, although full transparency,

[00:03:41] it's not the only thing I do.

[00:03:44] I left my corporate job in 2019 and I have not gone back to any type of employment

[00:03:51] since then.

[00:03:52] Now, I do consider myself a full-time jewelry reseller, but like I said, jewelry reselling

[00:03:59] is not the only thing that I do, but it is a huge part of my income.

[00:04:08] And if you don't know, I guess I consider myself a full-time content creator as well

[00:04:14] because I do that every week, you know, this podcast being one of the things.

[00:04:19] But I also have little side things that I do here and there that bring in money

[00:04:23] every week.

[00:04:26] And so when I consider myself a full-time reseller, it's because I am not actually

[00:04:33] working at a job, but I am making money.

[00:04:37] Like I said, a good portion of my income does come from jewelry reselling.

[00:04:43] So but you know what?

[00:04:46] There was a time when I was full-time on eBay and that was the only thing I was

[00:04:52] doing.

[00:04:53] I mean, yes, I did YouTube here and there, but for the most part, I was a full-time

[00:04:58] eBay seller and I was selling jewelry, but I was selling some other things as

[00:05:02] well.

[00:05:03] I wasn't only focused on jewelry.

[00:05:05] So I just want to be clear on that, that I do have some experience doing this.

[00:05:10] And like I said, I have not gone back to employment since I have made this decision

[00:05:16] to transition out of corporate America or having a corporate job.

[00:05:21] This isn't to say that I may not ever go back to having a job.

[00:05:28] For me, it would have to be something pretty fantastic for me to consider

[00:05:35] working for somebody else again.

[00:05:38] You know, not and I'm not saying that it's a bad thing, but for me at this

[00:05:44] point in my life, it would be really hard for me to go back to working for

[00:05:49] someone else and not having the flexibility with my schedule and with my

[00:05:54] income.

[00:05:55] You know, it would have to be something like I said, pretty spectacular for me

[00:06:00] to give that up.

[00:06:01] And it hasn't always been easy.

[00:06:02] It hasn't always been something that has gone smoothly.

[00:06:07] I have had struggles.

[00:06:08] I have had challenges.

[00:06:10] I have had inconsistencies.

[00:06:12] And this isn't because this isn't because I think I failed, but I think it's

[00:06:20] just kind of the nature of doing what we do and how it can be very

[00:06:26] unpredictable.

[00:06:28] And even now I have moments where I'm still not exactly totally secure with

[00:06:34] what I'm doing because I know how inconsistent it can be.

[00:06:40] You know, and this is where you have things set up so that way you don't

[00:06:45] feel stressed and you don't feel so unstable or I guess unstable as it relates

[00:06:51] to your money and your income.

[00:06:53] Okay, so let's go ahead and get right into the points because I think this

[00:06:58] will take a lot of thought.

[00:07:00] It will take a lot of thoughts and a lot of planning on your part.

[00:07:03] If you are trying to make jewelry reselling your full-time career.

[00:07:08] Okay.

[00:07:09] All right.

[00:07:10] So transitioning from a regular job to becoming a full-time jewelry

[00:07:14] reseller is a huge step.

[00:07:17] And like I said, this is going to require careful planning and

[00:07:20] consideration.

[00:07:22] All right.

[00:07:23] And, and I really want you to spend time thinking about this.

[00:07:26] Please do not rush into this decision and give yourself time to

[00:07:30] marinate on some of the points I'm going to share today because I don't

[00:07:36] want anyone doing something and they feel like they've made a huge mistake

[00:07:40] because I've seen that happen too.

[00:07:42] Not just with jewelry resellers, but resellers in general.

[00:07:46] Okay.

[00:07:47] So the first thing we want to really think about is the financial stability.

[00:07:51] I think this is pretty obvious.

[00:07:53] This goes without saying, and this is the most important part because there

[00:07:58] is no way anybody, especially when you have responsibilities and

[00:08:03] obligations and things to take care of, there's no way anybody would

[00:08:08] quit a job and not have the financial stability in place.

[00:08:15] At least I hope there's nobody out there doing that.

[00:08:19] So how can you get yourself financially stable?

[00:08:22] Well, one of the things you can do is have a savings.

[00:08:27] Now it's very interesting because a lot of resellers I know actually

[00:08:33] don't have a savings.

[00:08:35] I mean, maybe they have savings for, you know, their personal finances,

[00:08:39] but they don't really have savings for their business.

[00:08:41] And that's something I really want you to think about and to start

[00:08:46] implementing if you have not done so already.

[00:08:49] All right.

[00:08:50] So we're talking about savings both for your personal and your business.

[00:08:55] And you want to ensure that you have enough savings to cover at least six

[00:08:59] to 12 months of your living and business expenses.

[00:09:03] I mean, this is ideal.

[00:09:05] Okay.

[00:09:05] I'm not saying you have to adhere to these guidelines, but ideally, if

[00:09:11] you really want to feel confident in making this transition, this is,

[00:09:16] this is what you would, you would have in place for yourself because

[00:09:21] this financial cushion can support you during the initial phases when

[00:09:27] business may not necessarily be predictable or may not necessarily be consistent.

[00:09:33] Now we all know reselling has its ups and downs.

[00:09:35] Reselling has seasons where things are good, and then there's seasons

[00:09:38] when things are not that good.

[00:09:40] All right.

[00:09:41] So you really want to make sure you have enough money saved so you

[00:09:46] can accommodate all of these fluctuations.

[00:09:50] Now the other thing you want to make sure you have in place is some type

[00:09:53] of a consistent income.

[00:09:55] Yes, this can be done with jewelry reselling.

[00:09:59] Like I said, I know a lot of people who do it, but you want to make

[00:10:03] sure that you are generating consistent and sufficient income to cover your

[00:10:10] expenses, your taxes, your cost of operations, all of those things.

[00:10:18] You know, it's very wise to have a track record of steady income for at

[00:10:23] least several months, maybe even several years.

[00:10:28] All right.

[00:10:28] Because we are not going to just do this blindly.

[00:10:30] We are going to make sure that we have the numbers to really support

[00:10:37] this decision.

[00:10:40] All right.

[00:10:41] The other thing under financial stability is your debt and your expenses.

[00:10:47] Ideally, you don't want to have any debt because the last thing you

[00:10:51] want to worry about paying is a credit card or a loan or whatever.

[00:10:56] I mean, of course you probably have a mortgage or you know, whatever,

[00:11:00] but you really want to reduce or eliminate any high interest debt and

[00:11:06] unnecessary expenses before you make the transition into being a full-time

[00:11:12] reseller because this will just give you peace of mind and it will ease

[00:11:18] the financial pressure that comes along with having to pay off these

[00:11:23] debts and that stress can affect and impact your business as well.

[00:11:30] Because if you're so worried about that, it's going to be really hard

[00:11:32] to stay focused on your business and growing your business and doing all

[00:11:37] the things that you need to do in order to keep your business running

[00:11:41] effectively.

[00:11:44] Okay.

[00:11:44] So that's the first thing we want to really think about.

[00:11:48] And that's the financial stability.

[00:11:52] All right.

[00:11:52] My second point is to really examine the market viability and your business plan.

[00:12:03] In other words, what is the reselling market?

[00:12:06] How is it looking for you right now?

[00:12:10] Is like, is this something you can consider long-term?

[00:12:14] Is this something that you can see yourself doing for a long time?

[00:12:22] You also want to have a business plan in place.

[00:12:25] Now, this doesn't have to be anything formal or anything that you pay someone

[00:12:30] to outline for you, but you really have to have in writing, whether

[00:12:36] you use a notebook or a doc, whatever, you really want to have a clear and

[00:12:44] a very well thought out business plan, outlining your business strategy.

[00:12:49] Because you want to know all of these things.

[00:12:50] You want to know what a successful business looks like for you.

[00:12:55] In other words, you know what your day looks like.

[00:12:56] You know what your sourcing looks like.

[00:12:58] You know how you're going to be listing your items.

[00:13:01] You know what your schedule looks like and you know what your customers

[00:13:05] or your clients ideally, you know who those people are.

[00:13:10] You have all of this information.

[00:13:11] So that way, you know how to strategize a plan to keep your business

[00:13:16] running smoothly and profitably.

[00:13:20] You may even want to do some projections where you say within,

[00:13:24] I don't know, three months, I can project that my business will

[00:13:29] have X amount of dollars in revenue.

[00:13:34] And you may even want to figure out how you're going to expand or

[00:13:38] scale your business once you get to a certain point.

[00:13:40] Now, this is not all stuff that you have to come up with right away,

[00:13:45] but this should definitely be a working plan that gets adjusted.

[00:13:50] Maybe it gets updated as you go and maybe you add things in

[00:13:54] and take things away as you're moving forward.

[00:13:57] All right.

[00:13:57] The other thing you want to really think about is consistent market

[00:14:03] research.

[00:14:04] In other words, you need to understand your target buyers as well

[00:14:07] as what your competition is doing.

[00:14:09] Now, you don't have to necessarily be super competitive, but you want

[00:14:15] to see what other people are doing as it relates to jewelry reselling

[00:14:19] and what is working for them and what is not.

[00:14:22] All right.

[00:14:23] You want to ensure that there is a demand for the type of jewelry

[00:14:26] that you plan to sell and that you have strategies in place to

[00:14:31] differentiate yourself from everyone else.

[00:14:34] Because as we all know, we're all in this together.

[00:14:38] As we all know, there's a lot of jewelry resellers out there and not

[00:14:43] everybody is selling at higher levels.

[00:14:48] But you really want to keep a pulse on what is happening within

[00:14:53] the jewelry reselling space so you can add in, maybe take away

[00:14:58] some things, maybe you can adapt some things, maybe you can

[00:15:02] not necessarily copy, but you can do something similar in your own way.

[00:15:09] So your business works for you.

[00:15:13] Now, the other thing I want you to think about is scalability.

[00:15:18] Because if you plan on doing this as your full time career, long term,

[00:15:23] at some point you will scale.

[00:15:25] I think that's just kind of the natural organic growth in a business.

[00:15:31] Because if you are consistently making money and you are attracting

[00:15:34] the right customers who are letting other people know what you do,

[00:15:39] or if you are just consistent, then kind of by default, your business

[00:15:43] will grow because people will see you, like I said, consistently.

[00:15:49] And that in and of itself really just lends to consistent growth.

[00:15:55] All right.

[00:15:56] So you want to assess whether your business model can scale.

[00:16:02] Do you want it to scale?

[00:16:04] And then when we talk about scaling, what's the rate that

[00:16:10] you want your business to grow?

[00:16:12] Like, do you want to grow gradually or would you be totally happy and fine

[00:16:16] and comfortable growing quickly?

[00:16:19] Because I've seen this happen where somebody, you know, they go from

[00:16:23] zero to a hundred within a few months.

[00:16:25] And some people, you know, they just slowly kind of plug along

[00:16:30] and that's okay for them.

[00:16:32] So I think you need to consider the rate of growth too, and what you

[00:16:35] would like and what you can handle both in your business and personally.

[00:16:42] Because let me tell you, it will impact your personal life in some

[00:16:46] way if your business is growing rapidly.

[00:16:50] All right.

[00:16:50] So consider if there are opportunities for growth and expansion, like I said,

[00:16:54] you know, you want to explore online selling, maybe live selling, which

[00:16:58] is my favorite right now.

[00:17:01] Maybe even diversifying the types of products or items that you sell.

[00:17:06] Because even though we are jewelry resellers, sometimes there's

[00:17:10] accessories or maybe things that are kind of related to jewelry that

[00:17:14] you may want to add to your inventory.

[00:17:17] And you also want to think about how can you be more efficient when

[00:17:22] you are increasing your business operations?

[00:17:25] You know, how can you get more efficient at sourcing?

[00:17:28] How can you get more efficient at listing?

[00:17:30] How can you get more efficient at packing and shipping your items?

[00:17:36] All of these things.

[00:17:39] Okay.

[00:17:39] The next thing that we're going to talk about is a concept I

[00:17:44] call operational readiness.

[00:17:47] Operational readiness.

[00:17:49] Now this is a concept and idea about, do you have a solid operation in

[00:17:58] place so you can step into this full time?

[00:18:04] In other words, what is your supply or your sourcing looking like?

[00:18:08] Do you have reliable suppliers or sourcing systems in place?

[00:18:17] So you can step into this, like I said, full time.

[00:18:21] Can you, like are you set up so you can step into this as a

[00:18:24] full-time jewelry reseller?

[00:18:27] Do you know how to get the amount of inventory you need every week,

[00:18:31] every month, whatever, so you can hit your income goals?

[00:18:34] Because you really want to have this process and this system very streamlined.

[00:18:39] You don't want to be trying to figure this out after the

[00:18:43] fact you have quit your job.

[00:18:46] Right?

[00:18:46] You want to be able to source the inventory you need.

[00:18:49] You want to be able to source the supplies you need, and you want to

[00:18:53] make sure you have multiple sources probably for these things.

[00:18:58] So you're not totally dependent.

[00:19:01] You know, so your business is not totally dependent on just

[00:19:04] one source for your jewelry because that is a recipe for disaster.

[00:19:11] And I speak from experience here.

[00:19:13] Okay.

[00:19:13] So I'll just say that much.

[00:19:16] You want to have multiple sources for your jewelry inventory.

[00:19:21] Now the other thing that comes under operational readiness is

[00:19:25] your systems and your processes.

[00:19:26] I think I've talked about this quite a bit, not only today, but in

[00:19:30] other episodes, you know, we talk about having a system in order to

[00:19:35] make sure your business is operating at the level you need it to so it

[00:19:39] can make the money that you need it to make, and you're going to have

[00:19:43] multiple systems and multiple processes in place because depending

[00:19:48] on how you are running your business, everything will have to be, I

[00:19:54] mean, yes, consistent and streamlined like we talked about, but you need

[00:19:58] to have a clear idea of what part of your business may need improvement.

[00:20:03] What parts of your business are working and what parts of your

[00:20:05] business may need to be refined or changed or eliminated in some cases.

[00:20:11] And the way you will know that is if you have a system for each part of your

[00:20:16] business, okay.

[00:20:17] So this is very crucial and again, it'll probably take you some time to figure

[00:20:22] it out, but you don't want to be figuring all this out after you've

[00:20:26] quit your job, like these are things you want to know before you quit

[00:20:29] your job so you know what's working and what's not.

[00:20:32] All right.

[00:20:33] The other part under operational readiness is legal and tax obligations.

[00:20:39] Now I don't really go into this a lot on this podcast because I'm not sure

[00:20:45] how I can do it in a way that helps everyone because all of our tax

[00:20:52] situations are very unique and different.

[00:20:56] And so you want to make sure you got that figured out before you

[00:21:00] move into doing this full time.

[00:21:02] All right.

[00:21:03] So you want to really understand and know the legal and tax implications

[00:21:07] of running a full time business from home or from a warehouse or however

[00:21:11] you're going to do it.

[00:21:14] And you may need to, you know, set up or register your business,

[00:21:19] you know, as a corporation and LLC, whatever you may need to get some

[00:21:24] business licenses and you really want to make sure you figure out your

[00:21:29] tax situation, you know, how are you going to be paying your taxes?

[00:21:33] Are you going to do it quarterly?

[00:21:34] Are you going to do it yearly?

[00:21:37] You know, you really want to know this before you quit your job because

[00:21:43] you don't want to be figuring all of this out and you don't want any

[00:21:46] surprises either because that could be catastrophic.

[00:21:51] You know, if you're not planning for your taxes or figuring out the legal

[00:21:57] responsibilities you have as a business owner, maybe who's someone

[00:22:00] who's self-employed, however you structure it.

[00:22:03] Okay.

[00:22:04] So make sure you get that figured out before you quit your job.

[00:22:11] Okay.

[00:22:12] So the next point I have is personal readiness.

[00:22:16] All right.

[00:22:17] So we talked about operational readiness, but now we want to

[00:22:20] talk about personal readiness.

[00:22:23] What is your passion and your commitment to doing this?

[00:22:28] Because on the surface, we all love jewelry.

[00:22:31] It's pretty.

[00:22:32] It's fun.

[00:22:34] It's fun to source it.

[00:22:36] It's fun to wear it.

[00:22:37] It's fun to show it off, but you want to make sure that you're truly,

[00:22:42] truly engaged with this and that you're passionate about it enough

[00:22:49] to keep doing it even when you may face some challenges or some

[00:22:55] hiccups or some difficult times.

[00:22:58] You know, just like you go to work, whether you feel like it or not,

[00:23:01] you really have to get into that mindset when it comes to being a

[00:23:04] full-time jewelry reseller.

[00:23:06] Like this is something you're going to have to do and work on every

[00:23:09] day, every week, whether you feel like it or not, because this is

[00:23:13] your livelihood.

[00:23:15] All right.

[00:23:15] So make sure you're fully committed to the hustle of running your own business.

[00:23:21] You know, when reselling in general can be very demanding and sometimes

[00:23:26] it can be very draining and it also requires continuous effort

[00:23:32] and continuous learning.

[00:23:34] And I talk about that all the time.

[00:23:35] We will never know everything there is to know about jewelry.

[00:23:40] And so we are going to constantly be called upon to upgrade our knowledge,

[00:23:49] to upgrade our skills.

[00:23:50] Okay.

[00:23:52] So think about that.

[00:23:53] Think about how truly committed you are to doing this for however long.

[00:24:01] All right.

[00:24:02] The other thing you want to talk or you want to think about as it

[00:24:04] relates to your personal readiness is your risk tolerance.

[00:24:08] You know, evaluate your comfort, I guess, with uncertainty and risk.

[00:24:15] Cause I'm going to tell you reselling is not a guarantee in any way, shape or form.

[00:24:21] And so many of us know this and we experience this even when we're

[00:24:25] not doing this full time.

[00:24:27] You know, unlike a regular job, business income is very unpredictable

[00:24:33] and it can fluctuate based on a variety of factors and things that are going on.

[00:24:39] All right.

[00:24:40] So this is where, like I said earlier, your savings will, will help you

[00:24:47] maintain some mental and emotional stability.

[00:24:50] So you're not stressed and worried in all over the place.

[00:24:55] If something unpredictable happens and I'm going to let you know.

[00:25:02] It probably will.

[00:25:04] It probably will.

[00:25:07] All right.

[00:25:08] So we also want to think about the work life balance.

[00:25:10] How are you going to run your business?

[00:25:13] How will this impact your personal life?

[00:25:15] How will this impact your relationships?

[00:25:17] How will this impact your family?

[00:25:21] You know, are you still going to be able to do the things you need

[00:25:25] to do in your personal life and as it relates to your family obligations

[00:25:30] as a full-time jewelry reseller, you know, being your own boss, it requires

[00:25:35] long hours and sometimes working seven days a week, maybe late, late at night

[00:25:41] or super early in the morning, whatever.

[00:25:45] So you're going to have to figure out what boundaries you're going

[00:25:47] to have to put in place and make sure that your family is supportive

[00:25:51] or make sure that your partner is supportive and understands that this.

[00:25:56] You know, the hours aren't just clear cut.

[00:25:59] You know, the schedule could be very different.

[00:26:02] You know, even though you're in control of your time, what I've noticed is that

[00:26:06] a lot of times you will put in way more time working your business

[00:26:10] than you do at a job.

[00:26:15] All right.

[00:26:16] Now the other thing, which I know a lot of us don't like to think about,

[00:26:19] but this is my next point and that is an exit strategy.

[00:26:24] You know, do you have a contingency plan in place in case the business

[00:26:28] does not go as you expected?

[00:26:32] You know, if, if you decide to quit your job and become a full-time

[00:26:36] jewelry reseller, will you give yourself a certain amount of time

[00:26:42] to see if it works out for you before maybe going back to a job

[00:26:50] or pivoting in some way and doing something completely different?

[00:26:56] You know, cause you have to have, I guess a plan B if this doesn't work out.

[00:27:03] And I know nobody likes to think about that.

[00:27:05] I don't like to think about that, you know, but it is,

[00:27:09] it is a huge possibility.

[00:27:11] You know, things could happen maybe in your personal life that now

[00:27:16] doing reselling full-time just doesn't work.

[00:27:19] Uh, things could happen financially where you realize this doesn't work.

[00:27:25] You know, whatever the case may be.

[00:27:27] So I don't know, maybe you give yourself six months or a year,

[00:27:31] you know, after you quit your job and you do this full-time.

[00:27:34] And if it's not looking like how you want it to look,

[00:27:37] or it's not paying you like how you want it to pay you,

[00:27:40] what is your plan?

[00:27:41] If you have to exit being a full-time jewelry reseller,

[00:27:46] will you downgrade it to, uh, maybe just doing it part-time

[00:27:50] and then getting going back to work part-time?

[00:27:54] Uh, there's a lot of ways it can look for you.

[00:27:56] You just have to have some kind of idea of what you're going to do

[00:28:00] in the event that that happens.

[00:28:05] All right.

[00:28:06] Point number six is you want to make sure you have health insurance

[00:28:10] and benefits in place.

[00:28:11] This is a huge one again, for a lot of resellers.

[00:28:14] Now, a lot of people, um, when they do this and they move into

[00:28:19] full-time reselling, this is not something they worry about

[00:28:23] because they have a spouse or a partner and they get the health

[00:28:27] insurance and benefits, you know, through their, their spouse's job

[00:28:31] or something like that.

[00:28:32] Uh, but you can also buy this, buy health insurance, uh,

[00:28:37] individually, you know, through an insurance broker.

[00:28:40] And they have a lot of plans in place.

[00:28:43] Um, but you're just going to have to see what fits in your

[00:28:45] budget and what type of coverage you will need.

[00:28:47] So you are covered in the way that you want to be.

[00:28:51] Um, but you want to plan out all of this stuff.

[00:28:53] You want to plan how you're going to replace employment benefits.

[00:28:57] Uh, like I said, such as health insurance, retirement plans, maybe

[00:29:01] even vacations and all that type of stuff.

[00:29:04] Um, you want to research options that are available for self-employed

[00:29:09] individuals in your area, you know, and that's just one way to do it.

[00:29:14] So, uh, that is what I have.

[00:29:15] I have a, um, individual plan for myself and for my son.

[00:29:22] And it works great.

[00:29:24] And luckily we really haven't had to use it, but if we do need it, it's there.

[00:29:29] And so you don't want to get yourself in a bind where, you know, something

[00:29:33] happens and you don't have adequate coverage.

[00:29:35] Okay.

[00:29:35] So make sure that you do have some type of solution for that in place.

[00:29:43] All right.

[00:29:43] The last thing I want to share with you is having a long-term vision.

[00:29:51] You know, having a long-term vision, because if you are going to do this

[00:29:55] as your full time thing, do you see yourself doing this for the rest of

[00:30:03] your life?

[00:30:04] You know, I know that sounds huge and it sounds overwhelming to think about,

[00:30:09] but what is your long-term goal as it relates to being a

[00:30:12] full-time jewelry reseller?

[00:30:13] Do you want to retire doing this?

[00:30:16] Like, do you want to do this until, you know, you can't do it anymore?

[00:30:21] Or like we talked about earlier, do you plan on going back into the

[00:30:26] workforce, you know, for any, for any reason, think about what does your

[00:30:35] jewelry reselling business look like a year from now, five years from

[00:30:40] now, even 10 years from now.

[00:30:42] So having clarity about what this looks like for you in the long-term,

[00:30:49] I think is going to be very helpful for you when you decide if and

[00:30:55] when you want to do this full time.

[00:30:58] And remember, you're not locked into this.

[00:31:04] Okay.

[00:31:05] You know, you don't have to be committed to this forever.

[00:31:10] Although some of us want to be committed to this forever.

[00:31:13] You know, I, for me, I would love to do this forever.

[00:31:18] You know, I would, I would love to do this and just travel all over the

[00:31:22] world and look at beautiful jewelry and find beautiful jewelry to sell

[00:31:29] or to showcase in some way.

[00:31:31] I could see myself doing that forever, but I mean, you never know.

[00:31:35] You know, maybe as I get older, my plans or my ideal life could change.

[00:31:41] You know, but, but I do see this as a lifestyle for me where I will

[00:31:45] always be enjoying jewelry, looking for jewelry, studying jewelry,

[00:31:51] sharing jewelry in some way, shape or form that is what I want to do.

[00:32:00] Now I may not always be a jewelry reseller, but I can't imagine not,

[00:32:06] not being a jewelry reseller.

[00:32:09] Right?

[00:32:09] But we never know what the future holds.

[00:32:12] So I say that to you because I want you to really think about what

[00:32:17] your long-term vision is as it relates to doing this, you know,

[00:32:22] and you can make that look however you want.

[00:32:25] It can be in whatever form you want.

[00:32:28] It can be in whatever capacity works for you at whatever particular

[00:32:35] stage of life that you are in.

[00:32:38] So in closing, making the leap to full-time jewelry reselling is

[00:32:43] not just about having enough sales.

[00:32:47] You know, it's really about having a sustainable business and having

[00:32:52] practices in place that help you make the business what you want it

[00:32:59] to be.

[00:33:00] It's also about being financially prepared and financially stable in

[00:33:04] knowing what the market is doing as it relates to how you want to

[00:33:11] sell your jewelry or resell your jewelry.

[00:33:15] We also talked about personal readiness and operational readiness

[00:33:20] for being an entrepreneur.

[00:33:23] Okay?

[00:33:23] So if you decide that everything, all the boxes are checked off

[00:33:27] and that all systems are go, this can be a very rewarding career

[00:33:34] that fits into your lifestyle and helps you express your passions

[00:33:40] and your interests as it relates to jewelry reselling and everything

[00:33:46] that comes along with it.

[00:33:49] So let me know your thoughts on this topic and do you have plans

[00:33:54] to ever transition into being a full-time jewelry reseller?

[00:33:58] I would love to know.

[00:33:59] And I want to thank you so much for spending this time with me.

[00:34:04] I will check in with you again really soon.