JIM COCKRUM'S CES CONFERENCE #IV 2016 Nashville, TN \ [music] Day 1: Lynda Tyler Liquidation Investment Training 00:08 Speaker 1: Thank you, everybody. So excited to be here for CES4. I wanna give a shout out to Ray and all her help and crew. What a wonderful venue and time this has been. So, excellent. Okay, let's talk about liquidation investment training and exactly what is it. It's an approach to securing unlimited amounts of inventory at very highly profitable rates for you to sell on ebay, Amazon, in many, many other venues. So, when we say, "What do we mean, where would we get these products?" Well, we get them from manufacturers, retailers, distributors and other sources. Also, when we talk about liquidation, we're not talking about wholesale. Wholesale is approximately 50% to 55% of retail. 01:05 S1: When we're talking about liquidation, we're talking about pennies on the dollar. We're talking about 5 to 25 cents on the dollar. So you can see when I talk about very profitable inventory, that is exactly what you will find in the liquidation course. Before I begin though, let's go ahead and digress just a little bit. My husband and I have always had a home-based business. We've been entrepreneurial in spirit even when we had corporate jobs because we knew that the home-based business will lead us to financial and time freedom. And time freedom this day is probably even more important than financial freedom. 01:51 S1: Anyway, we went ahead and had those home-based businesses, they were successful, while working full-time. But back about 14 years ago, I became seriously ill. I lost my corporate job. I actually gave it up because I couldn't work any longer. And I recovered after a couple of years, and I looked at my husband and I said, "Okay, I need to do something." So, it was something to do with a home-based business. I had a friend in my town that had products and I spoke to them and I said, "Where did you get them? How did you get them? What's going on?" And I probed and probed to the point, I was such a pest. 02:30 S1: But that was the beginning of learning about liquidation and the business. It's not an easy business, it's not a kind business, it's not usually ethical business [chuckle] but, and it takes a learning curve and that's what I did for the first couple of years. I had those failures that Jeff was talking about before you become success. My first failure was a big tractor trailer of K-mart returns that rolled down our residential street in a restrictive community that couldn't accept tractor trailers. And my husband looked at me and said, "What are you doing?" So, that was just one of many mistakes. But I did the learning curve over a couple of years, and I learned exactly what to do and what not to do and to apply good business principles and ethics to the business. So now, some 12 and a half, 13 years later, I'm enjoying a very good reputation in the business. 10/22/16 Page 1 of 6
03:31 S1: About nine years ago actually, my husband came across Jim Cockrum on the internet and said, "You have to look at this guy. He's got wonderful programs, great people, and you need to look at what he's doing. Perhaps there's something there could grow the business." And I did and I liked what I saw, but I put it on the shelf 'cause I was really busy growing that liquidation business and it was a full-time job at that time. About five years ago, I looked and Jim always says, there's no course that he offers that he or his staff has not tried. He verifies information, he makes sure that what is presented is true and correct. So, I thought, "Well, I've heard that before, so I think what I'll do is just pick one of his courses and try it and see if it'll work as he said." 04:27 S1: So, I picked something about test strips and I said, "Okay, you have to run around and pick up these test strips and then you sell 'em and there's profit." Well, I did that for about two months and I said, "This does work exactly like he stated." But I did something like Jeff Cohen talked about. I took creativity to the course and I made it then a national program. I was the first to take it to national advertising, mail-in programs, and it's still thriving today after all these years. It's a very successful, highly profitable business, and I have Jim to thank for that. And I also have been known to be called Queen of the Strippers. So, if you hear that mentioned someplace, you'll know that's me. 05:19 S1: Anyway, about three and a half, four years ago, I approached Jim and I said, "You know, I've been doing a liquidation business," and I said, "I don't wanna keep it a secret anymore because there's so much business out there for people to enjoy and be able to work with and profit and help families. And I love your group, the family atmosphere." And Jim and I since then have become very good friends. We pray for each other's families as well as our businesses and all of your businesses as well. 05:54 S1: So I went ahead and told him about the liquidation course and what it entailed and everything else. I wrote the course, he reviewed it. And of course before we even put it out, he had it tested, and he quickly found out that once he tested it, it worked, and then he had to get a warehouse. And so he said, "Yeah, it does work." So anyway, that's how the Liquidation Investment Program was born. 06:24 S1: So some people ask me, I did put out the course but I told Jim that I wanted to go ahead and have stipulations on it. Number one, I did wanna have a qualification process, and number two, I wanted a limited amount of people involved in the program. And the reason for that is twofold. Number one, with limiting the amount of people, I am the trainer. I don't give that off to anybody else. So I personally get involved with negotiating deals, pricing, whatever you need, I'm there to assist and to help. So in order to do that, I had to keep it at a good amount of number. 07:07 S1: Also, you have to have a good ebay and Amazon selling account. You have to be pretty proficient in that area. You have to know about products and what to do with them and so forth, so it's not a program for novices. You have to have funds to invest in inventory. Remember, we're talking about large amounts of inventory. We're not talking about two to 500 pieces of something. And where this inventory comes from, for instance, manufacturers, maybe they produce two million of a certain item, and they only sold 1.9 million, so you've got 100,000 pieces left over, so you have to be prepared to buy that. Now, partly of what I've also created is the National Liquidator Network, and in that network, we have buying opportunities where we can pool together and make buying opportunities for everybody. 10/22/16 Page 2 of 6
08:09 S1: So, the other question that I get asked is, "Is this over-saturated?" If anybody is in LIT that's here right now, I've said this over and over again, you will never have enough money. In fact, we can pool all our money together, we can never have enough money to buy all the products available. LIT members, do you know this for a fact? Yes. You will run out of money before you ever run out of products, believe me. And the reason for that is in the selling season, we've got spring to summer, and we have fall to winter. At the end of any selling season, there's approximately 17% to 25% leftover merchandise, depending on how that season was. And where's that merchandise going to go for a retailer? It has to get out, it has to get off the floor. You gotta make room for the new stock. 09:08 S1: Customers are fickle, they want the greatest and the latest. They don't want last year's merchandise sitting there, and a retailer doesn't want something sitting there with 75% to 80% off for two, three, four months. So there's lots and lots of opportunity. Manufacturers, some of them still have obsolete products tucked in corners. You can find it all over the place. And that's what I teach you, how to find and how to obtain. As far as a testimony, I just got this email the other day. Nathan, you got a copy of it, too. And it was a lady. They asked me, "Can women do this, or is it just a man's world?" Well, I'm a woman, I'm doing it, so yes, anyone can do it. Any age. I'm 67. We have people as young as 21, so it doesn't matter. But this particular lady was a little shy and she wasn't sure so she just sent an email. "Hi, just wanted to let you know that despite my initial fear I had made an error in joining LIT, I am feeling very optimistic. And why? Oh, because I made a huge in-row with several manufacturers, and on September 15th, should get some lists of products that are available for my purchase. Keep you posted." 10:26 S1: So we're very excited. This year, we branched into the UK and also into Canada. And I'd just like to shout out to Jason and Emma from the UK, there they are, hi, and wonderful. And then also, is Nancy House here? Nancy from Canada? Okay. Oh, there she is, way back there. Hey, Nancy. Okay. And we also have Lili and Ginga. There they are, okay. Ginga is taking a sabbatical this year to help Lili with her business. She's very highly successful. She doesn't think she speaks good English, but she speaks well enough to do extremely well in the business. Just having a baby last year and having another child at home. So Lili, great. Okay, I'd like to introduce Daniel Leek. 11:25 Speaker 2: Anybody who was here at CES two years ago remembers I told you about a lot that we had just been offered after going through the Liquidation Investment Training. And we were working on, at that time, closing a multi-million deal lot. Last year, I told you about the lot we'd had been offered the year before and how we'd closed it by partnering together with several LIT members. Well, we just closed that lot, or just finished selling through that lot about a month ago but one other opportunity that we've created in the last year with the Liquidation Investment Training Program is making use of access that we get through Linda's training to inventory is a test. 12:03 S2: So what I mean is, how many people like buying inventory at 50% off? That's pretty good, it's about wholesale. What if you could buy inventory at 20% off? That's really good, closeout stuff. What if you could buy millions of dollars of inventory, retail value, at 5%, 2% to 5%? That's pretty good, right? Might buy that all day. Maybe. So we use those kind of test buys on great scales to be able to build relationships with manufacturers, so then we can go in and create wholesale accounts, which is a little bit higher price. But we've highly tested the product at great volumes to be able to prove that the product is something that we want in on and we're able to access manufacturers that we normally wouldn't have any access to, thanks to Linda. That's our story. 10/22/16 Page 3 of 6
12:53 S?: This is Tim Wallis. 12:56 Speaker 3: Yes. My name is Tim Wallis. How many of y'all were at the Dallas CES? And it was there that, well, Daniel and I both actually spoke, and ended with Linda saying... I shared a little bit of my story and Linda said, "And he rides his horse to work." And ever since then, I don't care where I go, every year, and it's already happened now. "You're the guy that rides his horse to work." I get asked that all the time. So I thought, I need to show a picture of that deal, if this works. I press this button to the right. And it doesn't. 13:43 S3: Oh no, no, no, not there, I need to back her up a little bit. Whoa, boy! There you go. Okay, all right, so I don't wanna talk very long at all, but I'll talk really fast. This is a store, a general store built over 100 years ago, been sitting vacant. Long story short, my wife let me have a corner of the living room for product. That took over the whole living room and then I was, "Honey, I need your office too." Took the office, moved it into a two-car garage. And I was doing fine on space until I got into this liquidation deal. And on that deal, I was blessed with all these products. 14:28 S3: So long story short, I found this place, it was about three miles down the road from where I live. So I had the privilege... And what you see there is a picture of a horse. I say it's a picture of freedom, because the liquidation has given me that freedom, and it's what took me right across the wire from being part-time to full-time. So I also wanna show you, this is my ride to work, and after this, I have some more family pictures. Graduations, birthday parties, and that kind of thing. But this is literally rush hour traffic in Powell, Missouri. 15:10 S3: And I did not see one vehicle, I guarantee, an hour, I did not see one vehicle. There's a hitching post right there where I can tie my horse up, go in, sort through my liquidations, do FBA shipments, whatever it is I need to do. Oh, this is the post office right across town. This is Pony Express! 15:33 S3: And it's right across town and it's also right across the street. It's the same thing in Powell, Missouri. 15:40 S3: But the point is, I don't care where you live, you can do this. So what do I do in that building? Well, this is one shipment of inventory I got in. Actually, I found this local. Many people that do what I do that's in this group, they'll find it all over the country, and then you can also find it local as well. Retailers, manufacturers, distributors, and this particular source, I get probably three or four shipments like that a year from them. And you're looking at about $4,000 there that will profit about $16,000, and that's because of the pennies on the dollar thing. A huge blessing. And 10/22/16 Page 4 of 6
that's just from one source. And I have other sources as well from that. 16:36 S3: So anyway, long story short, I've already said that three or four times. But I do wanna say this. What I like about this kind of inventory is this: One, huge profit margins. Two, flexibility to sell it in many different ways. One, wholesale it out, if you need to turn your money quick. Secondly, course I like to take it all the way to the end and retail it. And then also, there's another one I can't remember. What's that? 17:10 S?: Ride your horse. 17:11 S3: Yes, yes, yeah, ride my horse. But then also in all that is with this is the ability to test products out, if you will. And then you discover one thing of doing liquidations, there's promise you're gonna keep on getting that. But you know who the manufacturer is and you find some really great products, and then that gives you wholesale opportunities as well. And in all this, you bundle. I'm telling you. It's been really good. I guess I wanna close with... 'Cause I know I'm over time, I wanna close with this. If I could borrow a phrase, I think it was Christine or Sarah, I can't remember, came up with this clever phrase, called "Get lit." And I tell you what, getting lit has done really good for me. 18:05 Speaker 4: Tim, you are awesome. 18:08 S4: Man, it's awesome to be able to hang out with you, do business with you, meet with you, partner with you. That's one of the best things about this business model. And I wanted to come up here, Linda, I'm gonna try not to cry, but I love you so much. Thank you for everything that you've done for me. But most importantly, you guys, this has enabled me... This is about 60% of my business now. And I'm a dad, I've got two kids. I've got a wife. My brother passed away three months ago at the age of 45. He had heart failure and he left five kids. And with no exit strategy, with no... We were gonna have to take care of 'em. And because of this business model, if something happened to me, my wife and my kids and my family and our friends will be just fine because of this. 19:00 S4: And not only that, it's enabled me, with the coaching, to help so many other people that needed inventory. So not only do you have... This inventory, we bought a lot of inventory. Adidas, we got restricted on it, but guess what? Because we were going direct to the source, they opened it back up for us no problems. That's the beauty of this thing, is you're gonna get big name brand stuff and you're gonna go right to the source instead of going through three different middle mens to get to it or have to worry about coming up with invoices and different things, and you're gonna be safe. 19:34 S4: Not only that, not only that, but you can resell the inventory and become a liquidation broker. When you think of the term liquidation, this isn't liquidation inventory that is the cast offs and stuff that isn't gonna sell well. I'm talking major name brand stuff. And the reps that I work with and deal with, and the people that I deal with, that I buy from, I'm getting stuff before it's even out on the market. 2016 Winter, 2016 Fall. This is manufactured, top-end, real, no fake stuff. Stuff that you're gonna have before everybody else gets it and you're gonna be able to put it online and stuff. 10/22/16 Page 5 of 6
20:12 S4: And it's hard work, though. Don't get me wrong. This is real work in this business. But I can tell you this, it gives you the opportunity to sell it yourself but then also provide and become a liquidation broker to other people of high-quality inventory. Where they keep coming back to you and buying more and you're making money on that, but you're also making money in having the reps coming to you and selling it online. But they keep coming back to you over, and over, and over, and over, and it's a beautiful... Dealing directly with the manufacturer, it's a beautiful thing. 20:40 S4: And so we have to be limited about the way that we offer this to people because it's not for the faint of heart. Like Linda says, it's very, very advanced learning curve. You gotta take your time. That email that you shared, she's been with us for a couple weeks and she was able to really get out there and make things [21:00]. So things can happen very quickly but it takes time to learn it. You'll have to take a little bit of time and get your bearings and build up your confidence and learn this, but you're learning from the best. Linda, I have to tell you that out of anybody here, and I've met some people that are incredibly impressive. I just had a conversation that I think I'm gonna make easily $50,000 from the information that I just learned from some random guy that I have no idea who he is, about parent-child variations on products. But you, by far, I think, are the entrepreneur of this place, you and Jim that have impacted my life more than anyone. You are a powerhouse. You are the best. If you get the chance to work with Linda, you are one of the luckiest people here. 21:44 S4: Now, I am blessed to be able to offer Linda's service through Jim Cockrum coaching. I'm the only person in the world, besides Jim Cooper back there at the very back of the room, that can actually offer this. There's a vetting process. We need to make sure that it's right for you before we jump into it. This month, we're only allowing five people into this program. And so if this is something... If you wanna take your business to the very next level and in a big way, do it. But I'll tell you this right now, Linda, thank you for kicking my butt on this. 22:21 S1: [chuckle] You're welcome, and I did too. 22:22 S4: I loved it. But I'm telling you, she is the best. She is the real deal. And so, if you're serious about this, go back and talk to Jim Cooper and let's get you reserved and get you a spot. 22:36 S1: And also, I have from my team Sarah and Christina. 22:39 S4: Yeah, Sarah and Chrissy, stand up. Stand up, you guys. 22:42 S1: They'll be back there with Jim also. 22:43 S4: If you wanna learn more, they can answer your questions. Jim Cooper. I'm happy to answer your questions. We have to keep this limited just because Linda is the primary teacher of this. There's nobody else that... You're gonna work directly with Linda on this. The best of the best. And I'm telling you, from my experience, I've done a lot of different business models, I do a lot of different things, this is the primary business model that I focus on. So, thank you so much, Linda. 23:10 S1: Thank you. 23:10 S4: Awesome. 10/22/16 Page 6 of 6