Welcome to the Haulers' Edge Issue #46: As I prepare for a big move 🌴, my wife and I decided to sell as much of our stuff as possible in order to travel as lightly as we could. We wanted to take only what would fit in our suitcases, which is a bit of a joke, but in many ways, it’s true. In the process of selling everything online, we returned to Facebook Marketplace—and what an interesting community that is.
We sold everything from furniture, tools from my shed, and even our house plants (who knew there was a market 🤷♂️). One of the hardest things to part with was my UTV (Utility Task Vehicle)—something that honestly brought a tear to my eye lol. But my wife, bless her heart, did all the heavy lifting. She posted every single item, and communicated with what had to be over 10 people per listing. At times, she may have had—no exaggeration—100 conversations going on at once!
It was pure madness, but the process brought a lot of value to our family.
Left: me cutting wood to feel like a real man | Center: UTV parked out front of my house loaded with firewood | Right: and the buyer loading it up and taking it away 😢 🤣
After two months of FB sales mayhem, we’ve brought in over $17,000, and most of what we sold was purchased at prices close to what we originally paid, thanks mostly to inflation and the fact that we don't live like absolute savages, the stuff stayed in pretty good shape. Along the way, I was reminded of some valuable lessons, not just about selling things, but about business in general.
Let me break down the key takeaways and how they relate to growing your business 👇.
1. Quick Note on Inflation: Moving Cash into Assets
One major lesson during this process was about inflation and its impact on asset value. As the value of currency decreases, the value of hard assets like furniture, tools, and real estate tends to increase. This inverse correlation is why, during periods of inflation, financial experts often recommend moving cash into tangible assets like real estate, businesses, or equipment.
This lesson is especially relevant for business owners who are looking to protect and grow their wealth. By investing in physical assets, you can hedge against inflation and potentially see the value of those assets rise while the value of cash decreases. The key takeaway here is to think about your money as a tool for acquiring valuable, long-lasting assets.
2. Marketing and Positioning Matter More Than You Think
When selling, good photos are important, but what truly sets a product/service apart is effective descriptions and transparency. Many of the photos my wife uploaded showed us actually using the items for sale. It was candid, brought levity to the cold online world, and revealed the kind of sellers we were behind the screen.
For example, we had five or six pairs of skis to sell. This time of year, in the Northeast, ski gear is in high demand—but we quickly realized that people weren’t quite sure what they were looking for. They were asking a lot of questions, and were treating the listing like a ski shop.
Here’s where marketing and positioning came into play: Instead of simply listing all of the skis for sale, we changed it up and packaged them together. We bundled skis, boots, and poles as a complete set. This small change allowed us to charge more because we simplified the decision-making process for the buyer. This is a great lesson in how to market and position your products or services.
I speak a lot about how you don’t want your target audience to waste too much time figuring out what it is you do. Our ski post was a perfect example—people were confused about what we were selling, the sizing, whether it would work for them, and so on. They were burning too many brain calories and quickly moved on or lowballed us.
But when we repackaged the skis and positioned it as a bundle—"a set for a male with a shoe size of 9.5 and intermediate ski skills"—it spoke directly to the right customer. And they paid a premium for it. When you package things together in a way that’s easy for the customer to understand, it eliminates confusion and increases the likelihood of a sale.
3. Speed Is Crucial
This lesson ties directly into the importance of communication in business. We found that the faster we communicated with potential buyers, the faster we closed the deals. When someone is ready to make a purchase, they want it to be quick and easy. In business, when customers are ready to buy, when customers are ready to hire, you need to act fast.
This is especially true for service businesses. If a customer is holding out money in their hand and wants a service done today and you can provide it, you need to make it happen. In our case, when people wanted to come by the same day, we made it easy for them and completed the sale on that day. When we tried to schedule for the future, those sales often fell through because it required more effort on the buyer’s part.
Lesson: Move quickly when the opportunity arises, and make it easy for customers to purchase. The quicker you respond and act, the higher the chances of closing the sale.
4. Understanding Your Customer: The Upsell and Lifetime Value
One of the most valuable lessons was how to get to know your customer during the sales process. When we sold items, many buyers came for one thing, but by asking the right questions, we were able to turn that single sale into multiple sales.
For example, one man came over looking to purchase a side table. Had we not asked questions about his needs, we would’ve sold him just that one item. But when we learned that he owned four Airbnbs and needed to furnish multiple rooms, it became an opportunity for a much larger sale. My wife ended up selling him around $1,000 worth of items—far more than he had originally planned to spend.
This principle translates directly into business. Ask questions to find out what additional needs the customer might have. The more you understand their challenges, the more likely you are to offer solutions and upsell them. Plus, if you handle the relationship well, you can increase their lifetime value by keeping them coming back for more when the need inevitably arises again.
5. Building Customer Relationships for Long-Term Success
The key to growing a successful business is to build long-term relationships with your customers. Whether you’re selling used items on Facebook Marketplace or offering services in your business, the goal should always be to provide value and build rapport. These relationships lead to repeat business and referrals, which are WAY more valuable than one-off sales. And not just because of the obvious increase in revenue, but because acquiring new customers costs considerably more than retaining existing ones.
Studies indicate that it can cost up to 7️⃣ times more to acquire a new customer than to retain an existing one. Additionally, the probability of selling to an existing customer is 60-70%, while the probability of selling to a new prospect is only 5-20%.
There's incredible depth in those two simple sentences, and I don't want to rush past it. So stay with me here, and let's break it down with a hypothetical example to make it easier to understand 👇
Cost to acquire a new customer: $100 (this is the marketing, ads, sales efforts, etc., required to gain a new customer).
Cost to retain an existing customer: $15 (this might include loyalty programs, follow-up communication, or personalized service).
Now, considering the difference in odds of making a sale:
Probability of selling to a new customer: 10% (based on the 5-20% odds).
Probability of selling to a repeat customer: 65% (based on the 60-70% odds).
Now it's time to math 🧮
For a new customer:
You spend $100 to acquire the customer.
With a 10% chance of making a sale, you’ll close 1 out of 10.
So, the effective cost per sale is $100 / 0.10 = $1,000 per sale.
For a repeat customer:
You spend $15 to retain the customer.
With a 65% chance of making a sale, you’ll close about 2/3 of the time.
So, the effective cost per sale is $15 / 0.65 = $23 per sale.
It costs you $1,000 to make a sale to a new customer versus $23 to make a sale to an existing one... 🤯 Crazy, right?
In the case of our house sales, that man who came for the side table didn’t just buy a few items—he ended up as a long-term customer who could potentially return to us for other items in the future as we prepare to head down south. By fostering that relationship, we turned a simple transaction into an ongoing business opportunity.
My Parting Words of Wisdom: Apply These Lessons to Your Business
These lessons go beyond selling household items—they’re about business strategy, customer relationships, marketing, and communication. Apply these principles to your business, whether it’s junk removal, retail, or home services, and you’ll surely see better results.
Every customer interaction is an opportunity to learn and improve. Focus on delivering excellent service, understanding needs, and positioning yourself as a trusted resource for repeat business.✌️
Justin Hubbard
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