Buy and sell

Buying and selling is probably the easiest way to make money.  

You need to sell at a higher price than the one you bought at. 

Buying and selling typically happen in different places, at different times, and with different people. 

You may choose to add some value to the thing you bought to be able to attract a higher price. 

You can buy, hold, and sell in the case where time appreciates the price like land. In most cases, however, speed matters. If you can buy and sell as quickly as you can, then your profits compound faster. 

You can also borrow and sell in cases where you have built trust. For example, you can stock your shop with goods on credit, then sell to customers, and then pay back the suppliers.

You can also borrow and lend. You get goods on credit and also sell them on credit. When the customer pays, you pay the supplier.

The thing you buy should have a ready market to ease the selling process. However, for new innovative products, you may need to create some awareness to gain customer acceptance. Only buy things people need.

You can buy and sell many products to many customers. The larger the variety the better. If someone doesn’t like something they can buy something else. If one customer stops buying, another will continue buying.

You may need to travel far places to buy cheap unique goods which are not available locally. Many people have become rich by going to China and other places to source unique products.

When you buy large quantities the unit cost goes down. When you sell huge volumes the profit margin improves.

Between buying and selling you need to store the goods and manage inventory. You should know the quantities in stock and eliminate slow-moving products. If possible limit stock because it eats away working capital.

You may need a physical shop to sell. But, you can also have a mobile shop like the boot of your car or a virtual store.

Either way, buying, and selling remain one of the easiest ways to earn some dimes!

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