Matt Buchel on how to price your import products?
Hey everyone! Matt here, it's good to be back on my home town, beautiful downtown Broadbeach.
After being down in Sydney and so on so forth. So, I thought I’d take a minute, not only just to show you the sunrise at 6 a.m. in the morning in Broadbeach, but also answer, it’s not a super common question but it’s a sort of common question. A lady actually asked me in the Discovery Day on Thursday, on Thursday, is there a certain rule of thumb that you can use to add margin to a product. So if you buy a product for eggs, do you add a certain percentage to it to sell it for and why. The answer is, no.
You know some people might disagree with me, but the bottom line is, there’s a whole different raft of different ways of pricing stuff, okay? And it’s not directly related to what it costs, obviously the cost has to be lower but the reason why it’s not directly related to the cost is you buy something for $10 for example, right? And the market could be selling it for a hundred coz you bought it right, okay? Or you could buy something for ninety dollars because you bought it wrong and the market is still selling it for a hundred dollars. So, obviously gonna lose money on that so you got to consider the price it’s being sold for, not the price you buying it for.
The whole goal is to buy as low as humanly possible and obviously sell it within the actual market price. Now, as promised I’d take you out here and give you a quick look at the sunrise, it’s sort of up a bit. People are out there cleaning the beach behind us. It’s why I live up here, I used to live down in Sydney, I used to live out in the Hills District and you can’t wake up and see this. I drove for it the other day.
It’s 13 years ago since I lived in Sydney and I drove through there the other day and I used to live in Riverstone, then just before I moved up to Queensland, I lived in Brownsville, and that big shopping centre that’s out there, that anyone from Sydney that wasn’t there, they had a whole train line there now I didn’t even know that existed. Anyway, back then I never wanted to make a change. I always tell the story, if you don’t do something you never actually get to where you want to go. So anyway, I hope you enjoyed that little tip and that little story.
Pretty well stop and doing the Discovery Days at least for now. I don’t think I’ll be doing them again, except maybe on the Gold Coast. There is one coming up on June, the 1st, in Melbourne and you can see why I’d rather hang out here. right? Um, there’s one coming up in June the 1st in Melbourne, and July 12 at my training centre.
So, in the future ones I think you probably have to mosey on up to the Gold Coast, but if you’re serious you know there’s not many guys like, like me around, that have done tens and tens of millions of dollars of sales year in year out, bringing in bucket loads of goods like over a million bucks US and I’m starting to ramp it up more. It’s one of the reason I stopped on the Discovery Days, showing people how to do it. A lot of people say they have they heart but I’ll say the reality it takes work it, takes effort, but it can completely change your life. I’d hate to even think where I’d be if I didn’t actually do something.
So anyway, if you’re interested little quick tip for you. Have a great day, I’m going to find a coffee.