I Became a Self-Made Millionaire by Selling Sneakers: 6 Strategies I Used

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Heres a closer look at the strategies he hasused to become a millionaireselling sneakers online.

Simms started re-selling sneakers when he was a teenager.

He started off small, really learning the trade before scaling his business.

I would usemy employee discountto buy shoes, basketball jerseys and hats.

I would sell all that stuff on eBay.

Back then, that was just my money to go to the movie theater and stuff like that.

A decade later he got back into the re-selling business.

I was like, I wonder if I could sell shoes again.

And sure enough, I did, and I made a little bit of a profit.

I was like, Oh, interesting.

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Let me keep doing this.

When I came upon StockX, it changed everything, Simms said.

And with StockX, it was none of that.

There were no pictures, theres no description you could sell instantly.

And they authenticate, which is something that eBay didnt do.

He now sells roughly 600 to 1,000 pairs of shoes every month.

At this point, he knows how to identify the shoes that will make him the most profit.

What I look for is so simple I look for money, he said.

I do a lot of online arbitrage as well.

I do a lot of wholesaling, and I have buyers.

Its definitely a machine right now.

Simmss No.

1 piece of advice for those looking to get into the re-selling business is to be organized.

you’re gonna wanna know whats selling.

Simms uses color-coded spreadsheets to keep track of what styles are and arent selling.

For me, green means you made a profit.

If its red, that means you didnt, he said.