Hey big spender!

Here is something one of my mentors told me: “Some people were meant to pay retail and others were meant to pay wholesale.

Take a second. Read that back to yourself. Think about what that really means. Ok, now move on to the rest of this post.

My mentor is basically saying that some people will always pay what the masses pay for goods and services while others (hopefully you and I) will pay much less and therefore have extra money to use to help us realize additional goals and desires. The question then becomes, “How do I pay less?!?!?” The answer is through education on what goods and services are really worth at different times and in different markets and through making connections with people who are so deeply linked into certain industries that they can help you get these goods and services at a wholesale price. So if there’s some big item you want learn everything you can about it. Start looking for market inefficiencies such as regions where the item is overstocked or not viewed as valuable. Start talking with people who use or sell that item every day.

Let’s say you are in the market for a car. First spend hours reading everything you can about all aspects of how a car deal goes through from start to finish. Then, once you know enough to hold a somewhat educated discussion ask everyone you know if they know someone in the car sales business whom they would trust to explain the intricacies of a deal to them. Get a few names. Talk with these people and ask them to give you the true breakdown of what they would do if they personally needed to buy a car. Now, you can go out and buy your car at a price much lower than retail because you are an informed and connected buyer.

This is how you will gain the knowledge and connections you need to pull off buying wholesale rather than being a sucker and paying retail.

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One thought on “Hey big spender!

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