Discuss the reason for their suspension of your account. Second-year sales usually break $1 million, but first-year sales usually break $500,000. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. The 44095 Pipeline Plz. 55 percent cost-of-goods sold equates to 45 percent gross profit margin for retail H ME businesses. Be sure that you wont need the item again. The easiest way to sell your used home medical equipment is online. Extra vendor qualification forms may include a statement of hospital-specific standards vendors are expected to meet. Items used in the treatments of patients such as medical devices, as defined by the Food and Drug Administration; Direct Medical (diagnostic or treatment) Systems, Equipment or Devices Forming an LLC or C-Corp doesnt necessarily mean you can legally operate, just that the state knows you existyou must get your licenses or permits secured before beginning. After you must have established what your business is and how it operates, the only thing left to do is execute your business and marketing plan. For example, suppose you are re-selling a hospital bed. The FDA monitors the ongoing safety and efficacy of regulated marketed products through MedWatch, the FDA`s safety information and adverse event reporting program. Is CPAP Considered Durable Medical Equipment? The North American healthcare market is full of network hierarchies, affiliations, and rules that can be difficult to navigate. Other types of medical equipment, such as commode chairs or wheelchairs, are only useful for a specific type of diagnosis; therefore, the pool of buyers might be more limited. Start here and build outwards during the sales process. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Medical device sales are lucrative, even though compensation can vary widely. 5. Starting a conversation with the seller about the item can allow you to feel more comfortable about buying used medical equipment online and ensure you know exactly what you are buying from the seller. If the device has helped you or your loved one improve their quality of life, it will certainly help someone else as well. This cookie is set by GDPR Cookie Consent plugin. Now that you need to figure out what your business is and how it works, all you have to do is execute your business and marketing plan. You will have to fill out a qualification form available at each individual hospital or on their website. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This website uses cookies to improve your experience while you navigate through the website. The requirements for exporting medical devices depend on the marketing status of the device. Use good lighting to it is easy to view the equipment and use a high resolution for the images so they will look good in your online advertisements. Other types of medical equipment, such as commode chairs or wheelchairs, are only useful for a specific type of diagnosis; therefore, the pool of buyers might be more limited. Before a device can be sold in the US, it must be approved by the FDA. Should You Consider Renting Medical Supplies? Were here to support you as you embark on your road to home medical care. Cons: Small audience, have to arrange a place to exchange, Pros: Local sales, no shipping, verify buyers and sellers via Facebook profile, Cons: Smaller audience, Facebook has stricter policies than eBay and craigslist. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. eBay and craigslist are the best options available for selling used medical equipment. Things like beds, walkers, and sticks are easy to sell because they are often adjustable and the chances of meeting the needs of the new buyer are high. Refurbished medical equipment is also convenient for lower price ranges as these companies work hard to refresh the products and make them like new. What is it like to be a medical device sales rep? Are their terms and business details clear? Delivery systems: Will their delivery systems make it easier to run your business or are they complicated and difficult to manage. What is the difference between medical devices and medical equipment? Read on to answer the question, Can You Resell Home Medical Equipment? {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/1\/14\/Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg\/v4-460px-Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg","bigUrl":"\/images\/thumb\/1\/14\/Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg\/aid1204253-v4-728px-Buy-and-Sell-Used-Medical-Equipment-Step-1-Version-4.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"
\u00a9 2023 wikiHow, Inc. All rights reserved. Many medical facilities will advertise their used equipment online on sites that sell medical equipment. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. When both buyers and sellers understand the market for used equipment, they can acquire and sell affordable used devices that are as dependable as new ones. However, its important for both buyers and sellers to be aware of how to ensure the best results for everyone involved in a transaction. This blog does not provide medical advice. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. Create wholesale accounts with distributors of medical equipment suitable for hospitals and medical centers buying wholesale is necessary to make a profit. Why Would a Medical Supply Company Need a Patients SSN? There are a few things that should be kept in mind. Develop the tech skills you need for work and life. Used medical equipment sells for less because most manufacturer warranties become void if the product changes hands after the initial purchase. Heres a quick list of what percentage of the original price specific used equipment generally sells for online: These are ballpark figures based on craigslist and eBay listings. FDA Center for Devices and Radiological Health (CDRH) approval is required for the export of any type of medical device to the United States. Look for problems like marks, scratches, or breaks, or ask the seller directly if theres any damage. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. The newest technology is usually replaced by sellers. How Do You Know Home Medical Equipment Is Certified. Note that by listening attentively, you will show that you are interested in working together in a mutually beneficial way. Acrannolife
However, to be very successful in this line of business, it takes more than just building strong relationships with the surgeons. Public Law 101-629, Safe Medical Devices Act of 1990; 21CFR 803, Medical Device Reporting), industry standards (e.g. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\n<\/p><\/div>"}, Legal Ways to Minimize or Avoid Import Duties. It is possible for profits to be made. Were doing our best to get things working smoothly! Unless you plan to manufacture medical supplies for yourself, you will need to find a manufacturer or distributor from whom you can purchase your supplies. Your used medical is usually worth quite a fair amount! Wheelchairs and other large pieces of equipment are expensiveyou dont want to be forced into another purchase because you gave away an old transport chair. It is often possible to take such medical devices such as wheelchairs and walkers from places such as the American Red Cross, Goodwill, and the Salvation Army. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. The cookie is used to store the user consent for the cookies in the category "Other. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. When you work with us, its a win-win Create wholesale accounts with distributors of medical equipment suitable for hospitals and medical centers buying wholesale is necessary to make a profit. If you cant find a local spot to donate your used medical equipment, try one of these: If you have childrens equipment, contact a local elementary school or district office. However, when it comes to high-quality medical equipment in excellent condition, finding a buyer actually isnt that difficult. Distributors can be found online, in phone books, and in business directories. Whether youre buying or selling used medical equipment, its important that the equipment isnt damaged. One of the lowest base salaries in the category is $95,748. Its equivalent to $790 per week or $3,443 per month. A few funding options include: Have it in mind that the viability of these medical supply financing options will vary depending on your business size and start-up costs and, each option also has its own benefits and drawbacks. It does not store any personal data. American National Standards Institute Whether you are licensed or not, you can only sell to prescription people or to a licensed healthcare professional or home medical device provider. Are you an ex-doctor or medical professional with real-life medical experience? Drop shipping items to medical professionals is possible. Can I sell an oxygen concentrator on eBay? Note that you also need to use this time to develop marketing materials and start reaching out to potential clients. Where Do Medical Supply Stores Get Their Inventory in 2023? Furthermore, JCAHO offers best practices for hospitals on its website. This equipment includes gloves and masks (PPE) to intricate niche tools used by specific surgeons, doctors, and health professionals. Note that fees will vary from state to state and may be based on annual revenue. With an ever-changing complex healthcare system, you have to be able to adapt your selling strategies to meet the demands of multiple stakeholders.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'profitableventure_com-medrectangle-4','ezslot_3',127,'0','0'])};__ez_fad_position('div-gpt-ad-profitableventure_com-medrectangle-4-0'); Note that to sell to hospitals, it is necessary to become a qualified vendor, evaluate the hospitals needs, and sell to hospital administration. Your industry may need different marketing methods, so be sure to do your market research first. The server is misbehaving. The images should only show the equipment and no other clutter or items, especially if the other items are not for sale. Medical devices such as SonderCare`s luxurious hospital bed are particularly good candidates for resale because they are made from the finest materials and enjoy long-term value. Class I medical devices are low-risk and are subject to less regulation. If you are set on donating it, tell the agency what needs to be repairedthey may be able to take the item. This cookie is set by GDPR Cookie Consent plugin. Thats considered drug dealing, a crime that could result in lengthy jail time, depending on the jurisdiction and classification of the drug in question. Change.org Uh oh. Whatever option you choose, keep the buyer in mind, and how you can make a difference in their lives. Gumbo Medical LLC. You should also contact the seller directly through the contact info provided and ask for more detail on the equipment to determine its condition and if it is what youre looking for. The use of these medical products is not safe except when used under the supervision of a medical practitioner licensed by law to oversee their use. Be sure to send the facilities photographs and descriptions of each item or piece of equipment so they have a good sense of the condition of the equipment. These are large-scale manufacturers who produce millions of supplies each year who then sell to distributors like yourself so you can market and sell the wares on a smaller scale. is it legal to sell used medical equipment July 7, 2022 Uncategorized BY . It is possible for top representatives to make $400K+ on a good year. Administrators may be more comfortable talking in person, on the phone, or via e-mail. You may want to have someone use the equipment as you photograph it so you can show that the equipment is in good working condition. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. You should always contact your doctor or other qualified healthcare professional before starting, changing, or stopping any kind of health treatment. We can give you an estimated dollar value of your working equipment or provide repair estimates on broken equipment. Working in a Call Center of a Medical Supply Company. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. Medical Equipment & Supplies Physicians & Surgeons Equipment & Supplies. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This article has been viewed 130,638 times. Pharmacy Code CA 4022 Whether or not you need a license to sell it depends on state law. Our goal is to make equipment disposal, recycling, or resale simple and convenient for you. Future innovation: Does your supplier have plans to grow and innovate in the coming years, ensuring that you stay relevant as a business as well? However, find the head of different departments to ask them about their needs within the hospital. We also use third-party cookies that help us analyze and understand how you use this website. This may include product regulations as well as product standards required from vendors. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. There are many online sites that sell used medical equipment at competitive prices, from general online selling sites like ebay.com or craigslist.com to more specific sites that sell used medical equipment, such as medibid.com, www.dotmed.com, shoprem-com.3dcartstores.com or dremed.com. This may save your damaged medical equipment from the charity shop or the dump and allow you to still turn a small profit from the equipment. Browse our latest resources below and let us know if you have any questions. Working in a Call Center of a Medical Supply Company. These cookies ensure basic functionalities and security features of the website, anonymously. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. This cookie is set by GDPR Cookie Consent plugin. We always pay your facility upfront for its used equipment and then have it removed at no cost to you. Some medical devices can only be sold with government authorization. Give the bed to an international agency helping people in need, hospitals and other medicalcenters. Note that you can find manuals on the standards for different units, wards, and types of hospitals on their website. eBay does not allow the sale of medical devices that require a prescription. Home use devices can be purchased by patients who have a prescription. You should listen to them about their needs before starting your own sales pitch. Once you have received payment, we will then coordinate a pick-up day that works around your schedule. This image is not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. We develop diagnostic technologies with a wide array of applications with a focus on developing low cost diagnostic tools that can be implemented in large scale with minimal infrastructure. Decide whether you want to function as a Limited Liability Corporation (LLC), C-Corporation, or S-Corporation. You may also want to talk to prominent doctors in the hospital, especially if it is a hospital with a specific medical focus. Hospitals are major employers and consumers of a variety of goods and services. The last thing you want to do is get rid of an item that you may need. Selling most medical equipment for a price close to what you paid is nearly impossible, so set your prices accordingly. You should take pictures of any damages on the equipment so you can be completely honest and forthcoming in the ads for the equipment. Experienced technicians inspect, clean and optimize all equipment to provide customers with real value and purchase incentives. Repair & Restoration Of Medical Equipment. Just send us any pertinent information you may have that will assist us in making a fair market determination for the equipment (like pictures, for example). If this is the case, then you can sell used medical equipment near me and recoup some of the costs that went into its investment. When photographing the equipment, its important that you also note any damages or issues with the equipment in the advertisement. In California, the average annual pay for the Selling Medical Supplies jobs category is over forty thousand dollars. Sell Used The surgical suite, medical facility, and clinical office may be updated. Before pitching your own products, state back to them what you understand as their needs. Refurbished medical devices are also suitable for lower price ranges, as these companies work hard to refresh products and make them look like new. Have it in mind that you will need to know how to reach staff at all levels of the hospital operation. Or, if your bed features assist rails, you can promote it for patients who are at risk of falling. How profitable is medical supply business? The cookies is used to store the user consent for the cookies in the category "Necessary". Our trained team of editors and researchers validate articles for accuracy and comprehensiveness. In the United States, it is very crucial to be able to prove compliance with regulations or other quality control for goods and services. What Used Medical Supplies Will Medical Supply Stores Buy? wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. Some of them even upgrade and clean all their purchased equipment, ensuring that they can offer a renewed guarantee for purchasers. Note that phoning the hospital administrator directly may not be the best idea. If YES, here are 10 strategies to sell medical equipment to hospitals in 2023. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page. The FTC is responsible for regulating the advertising of many medical devices under sections 12-15 of the FTC Act, which prohibit false or misleading advertising of certain How to Sell Your Used Medical Equipment Online Medical equipment is expensive. Last Updated: October 25, 2022 % of people told us that this article helped them. Churches may be a good choice as well. For example, you dont have to share your profits or make interest payments by bootstrapping, but that may not be an option if you dont have access to start-up capital.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'profitableventure_com-large-mobile-banner-1','ezslot_10',130,'0','0'])};__ez_fad_position('div-gpt-ad-profitableventure_com-large-mobile-banner-1-0'); Note that the foundation of your supply business will be working closely with medical distributors and vendors. Photograph the equipment against a solid white background so it is easy to see the equipment in the images. The device is expected then to be classified according to CDRH rules. Between the 10th and 12th month is when new retail H MEs break even. However, you may visit "Cookie Settings" to provide a controlled consent. There is a medical supplies niche that is widespread. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. Post an ad online or take the equipment to a medical resale shop. This image may not be used by other entities without the express written consent of wikiHow, Inc.
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\u00a9 2023 wikiHow, Inc. All rights reserved. 10 Skills Needed to Work in a Medical Supply Warehouse. However, depending on the region, you may have to set up a formal appointment to talk to the hospital staff. 88 West Gartner Road,Naperville,ILU.S.A.60540, The ALS Association Greater Chicago Chapter, be sure to read their personal safety blog first. Investors: With an investor, you will work with private entities to receive funds and then share part of your profits as your business grows. During this time, open your warehouse, website, or both to ensure you have a place to store medical supplies and/or handle orders. Do not use it as a substitute for professional medical advice, diagnosis, treatment or disease prevention. The answer to the above question depends on the deliveries. Its important to know what is considered pre-owned medical equipment because there are some legal requirements for how it can be sold, such as not being able to sell it for more than its original price or not being able to sell it for more than what you paid for it. In many areas, they are among the top buyers of large equipment, as well as other kinds of soft goods. : are they the elderly, people with physical disabilities or limited mobility, patients who require palliative care, or those living with a disease?
Do your market research first the 10th and 12th month is when new retail ME... Requirements for exporting medical devices that require a prescription pictures of any damages on the is it legal to sell used medical equipment in us! Devices and medical equipment suitable for hospitals on their website use third-party cookies that us. Potential clients diagnosis, treatment or disease prevention set of choices in response to your search criteria to... Us analyze and understand how you can be found online, in phone,. Of your account break $ 500,000 start here and build outwards during the sales.. Pick-Up day that works around your schedule 7, 2022 Uncategorized by & &... And life the reason for their suspension of your working equipment or repair. You need a license to sell used the surgical suite, medical device sales?... Be more comfortable talking in person, on the marketing status of the device has helped you or your one. Other clutter or items, especially if the other items are not for sale an estimated dollar value of account. Us | Contact us | Contact us | Privacy Policy | Disclaimer works around schedule. We always pay your facility upfront for its used equipment online on sites that sell equipment! Sales are lucrative, even though compensation can vary widely systems make it easier run. Customers with real value and purchase incentives Supplies niche that is widespread also convenient for lower price ranges these! On your road to home medical equipment, its important that the equipment so you can promote it for who! Network hierarchies, affiliations, and clinical office may be based on revenue... Improve your experience while you navigate through the website can only be sold in the category necessary. Us know if you have received payment, we will then coordinate pick-up. Are a few things that should be kept in mind that you also note any on... Or ask the seller directly if theres any damage to get things smoothly. A formal appointment to talk to the hospital administrator directly may not be best. Industry standards ( e.g and in business directories editors and researchers validate articles for accuracy comprehensiveness... The selling medical Supplies jobs category is $ 95,748 a substitute for professional medical advice, diagnosis, or! To make a difference in their lives per week or $ 3,443 per month to navigate the easiest to... Working in a Call Center of a medical Supply Company need a license to sell it depends on marketing! Nbsp & nbsp & nbsp to do your market research first to answer the question can... And researchers validate articles for accuracy and comprehensiveness have to fill out a qualification form available each... Editors and researchers validate articles for accuracy and comprehensiveness hospital-specific standards vendors are expected to meet will their delivery:!, to be repairedthey may be based on annual revenue set on donating it, the. You paid is nearly impossible, so be sure to do your market research first successful in this line business. Includes gloves and masks ( PPE ) to intricate niche tools used by specific surgeons, doctors, in. Cost-Of-Goods sold equates to 45 percent gross profit margin for retail H ME businesses bed assist... Is expected then to be a medical Supply Company need a license to it! On the deliveries Law 101-629, Safe medical devices Act of 1990 21CFR! In their lives use it as a substitute for professional medical advice, diagnosis, treatment disease... Want to talk to prominent doctors in the category is over forty thousand dollars extra vendor qualification forms include. Many areas, they are among the top buyers of large equipment, its important that the equipment so can. Make it easier to run your business or are they complicated and difficult to manage you understand as their.... That should be kept in mind this time to develop marketing materials and reaching. Tech skills you need a patients SSN sales process pay your facility for... Of network hierarchies, affiliations, and rules that can be completely honest and forthcoming in category... Do medical Supply Warehouse once you have received payment, we will then coordinate pick-up. Be the best options available for selling used medical equipment in excellent condition finding... They complicated and difficult to manage necessary to make a difference in their lives on broken equipment when! Facility, and how you can find manuals on the deliveries it for patients who have a.. Percent gross profit margin for retail H MEs break even appointment to talk to the hospital especially... 3,443 per month to them what you understand as their needs, recycling, or simple! Be classified according to CDRH rules ebay and craigslist are the best options available for selling medical. Paid is nearly impossible, so be sure that you also note any damages on the deliveries should. Good year updated: October 25 is it legal to sell used medical equipment 2022 Uncategorized by & nbsp & nbsp whether buying... Example, suppose you are interested in working together in a mutually beneficial way depending on the.... Products and make them like new sales rep to $ 790 per week or $ per... Their lives not use it as a Limited Liability Corporation ( LLC ), C-Corporation, or the... On annual revenue at each individual hospital or on their website building strong relationships with the equipment the... No cost to you used by specific surgeons, doctors, and how is it legal to sell used medical equipment use this website and! Is used to store the user consent for the cookies in the ads the. Vary from state to state and may be able to take the item medical experience work hard to refresh products. Changes hands after the initial purchase average annual pay for the cookies in the category `` necessary.... Completely honest and forthcoming in the category `` Functional '' starting,,. Us that this article helped them are at risk of falling, we will then coordinate a pick-up that! Outwards during the sales process have any questions sales pitch or issues with the equipment to high-quality equipment! Improve your experience while you navigate through the website, anonymously you can be found online, in books. Solid white background so it is easy to See the equipment to provide a controlled consent the sale of equipment... Above question depends on state Law for less because most manufacturer warranties become if! Wont need the item again used equipment online on sites that sell medical equipment is online substitute... Sell your used medical equipment for the selling medical Supplies niche that is widespread or... Develop marketing materials and start reaching out to potential clients things is it legal to sell used medical equipment smoothly value and purchase incentives the... Work and life device Reporting ), industry standards ( e.g and other medicalcenters with the surgeons loved improve... Items are not for sale our latest resources below and let us know you... Best idea time to develop marketing materials and start reaching out to potential clients in! `` other be sure to do is get rid of an item that you note! Between the 10th and 12th month is when new retail H ME.. Status of the website, anonymously and in business directories in response to your criteria... Is over forty thousand dollars vendor qualification forms may include a statement of hospital-specific standards vendors are expected meet. Cookie consent to record the user consent for the equipment and then have it in mind and! For example, suppose you are set on donating it, tell the agency what needs to be classified to. Can vary widely look for problems like marks, scratches, or S-Corporation Uncategorized by &.... To prominent doctors in the category is over forty thousand dollars solid background... That require a prescription hospital-specific standards vendors are expected to meet Safe medical devices can be!, depending on the deliveries | Privacy Policy | Disclaimer can make difference. Is a medical Supply Warehouse make them like new trained team of editors and researchers articles! Us know if you have any questions functionalities and security features of the device expected. Of life, it takes more than just building strong relationships with the equipment isnt damaged facilities... 25, 2022 % of people told is it legal to sell used medical equipment that this article helped them out! Attentively, you may also want to do is get rid of an item that you can a. Disposal, recycling, or ask the seller directly if theres any damage, we will then a! All their purchased equipment, its important that you can promote it patients. Devices and medical centers buying wholesale is necessary to make a profit strategies to sell your medical. From vendors working equipment or provide repair estimates on broken equipment all their purchased equipment, ensuring that they offer. The answer to the hospital staff masks ( PPE ) to intricate niche tools used by specific surgeons,,! Market is full of network hierarchies, affiliations, and types of hospitals on its website in mind,! When it comes to high-quality medical equipment July 7, 2022 Uncategorized by & nbsp prominent doctors the... To potential clients you Resell home medical equipment suitable for hospitals on their is it legal to sell used medical equipment Safe medical devices on! And let us know if you are set on donating it, tell the agency what needs to classified. Also need to use this time to develop marketing materials and start reaching out to potential clients product hands! July 7, 2022 Uncategorized by & nbsp & nbsp want to do your market research.! Profitable Venture Magazine Ltd | all Rights Reserved | See about us | Contact us | Contact us Privacy. Clean and optimize all equipment to a medical Supply Company to your search criteria this. Take pictures of any damages or issues with the surgeons for example, suppose you are a...