So you want to be a successful seller with your own eBay business? Here’s a simple, ten-step path to eBay enlightenment.
Tip #1: Identify your market: Who are you selling too and what is their pain point? You wont go very far if you can not answer these questions. You have to be able to offer a solution to the need or the problem of your niche. Once they are identified then you can take a while to sit and watch for what sells and what doesn’t as far as solutions. Any market research data you can collect will be very useful to you as you develop a business plan. You’ll probably see the ‘best sellers’ quite quickly – those one or two items that always seem to sell for a good price.
Tip #2: Work out a business plan: A business plan doesn’t need to be anything formal, just a few pages that outline the market opportunity you’ve spotted, your strategy, strengths and weaknesses of the plan and a brief budget. This is more for you than it is for anyone else.
Tip #3: Start small: One of the best benefits of working with eBay is you don’t have to throw thousands of dollars at your idea straight away – get started slowly, see what works and what doesn’t, and learn as you go. Remember that it’s very cheap to try out even the craziest ideas on eBay, and who knows, they might just work.
Tip #4: Learn From the competition: Before you invest any money, see what the other sellers in your category are up to, and what their strategies are. Pay special attention to any flaws their listings might have, because this is where you can move in and beat them at their own game.
Tip #5: Find a product: Where can you “source” your products from? Many that begin selling on eBay start with items in their own home and then expand to Yard Sales, Thrifting or maybe Auctions. As you grow your business you may start looking at liquidation inventory or even wholesale buyig by finding a supplier for whatever it is you want to sell. See what the best rates you can get are and don’t be afraid to shop around quite a few to get the best deal.
NOTE: If the eBay SOLD prices you’ve comped are higher than the supplier’s, then you’re set.
Tip #6: Test and repeat: Keep trying different strategies until you find something that works, and then don’t be ashamed to keep doing it, again and again. The chances are that you’ve just found a good niche.
Tip #7: Invest and expand: This is the time to throw money at the problem. Buy inventory, and start spending more time on your business. Set a goal number of sales each week, increasing it each time.
Tip #8 Make it official: Once you’ve made a few thousand dollars worth of sales, you should really register yourself as a business. Don’t worry, it’s not expensive or hard to do – a lawyer is the best person to help you through the process.
Tip #9 Automate: You’ll probably find that you’re writing the same things again and again in emails or item descriptions. This is the time to give up on the manual method and turn to automated software or an Virtual assistant that can create listings for you. You may also want them to respond to completed auctions and payments with whatever message you provide.
Tip #10: Never give up: Even when it looks like it’s all going wrong, don’t stop trying until you succeed. If you keep working at it then you’ll almost always find that you make a real breakthrough just when things are starting to look desperate.
Once you get into the swing of things, you might start thinking that you should quit your job and take up eBay selling full time. There are thousands who have done just that… But… it’s not always as easy as that. There are all sorts of factors that you need to consider. We will weigh in on the case for and against in a future LIVE video training.
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Thank you for hanging out with us on this post and we look forward to seeing you back soon!
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PS … Ready To Get Started Selling On eBay? Learn How To Make Your First $100 In the Next 7 Days! ==> Go Here Next!