10 Steps to Successful Selling on eBay.
So you want to be a successful seller with your own eBay business, do you? Here is a simple, ten-step path to eBay enlightenment.
Step 1: Identify your market. Take a while to sit and watch for what sells and what does not out of the items you are interested in. Any market research data you can collect will be very useful to you later on. You will probably see the 'sweet spots' quite quickly - those one or two items that always seem to sell for a good price.
Step 2: Watch 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 auctions might have, because this is where you can move in and beat them at their own game.
Step 3: Find a product: Get hold of a supplier for whatever it is you want to sell, and see what the best rates you can get are - do not be afraid to ring round quite a few to get the best deal. If the eBay prices you have seen are higher than the supplier’s is, then you are set.
Step 4: Start small: Do not throw thousands at your idea straight away - get started slowly, see what works and what does not, and learn as you go. Remember that it is very cheap to try out even the craziest ideas on eBay, and who knows, they might just work!
Step 5: Test and repeat. Keep trying different strategies until you find something that works, and then do not be ashamed to keep doing it, repeatedly. The chances are that you have just found a good niche.
Step 6: Work out a business plan: A business plan does not need to be anything formal, just a few pages that outline the market opportunity you have spotted, your strategy, strengths and weaknesses of the plan and a brief budget. This is more for you than it is for anyone else.
Step 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.
Step 8: Make it official: Once you have made a few thousand dollars worth of sales, you should really register yourself as a business. Do not worry, it is not expensive or hard to do - a lawyer is the best person to help you through the process.
Step 9: Automate: You will probably find that you are writing the same things repeatedly in emails or item descriptions. The time to give up on the manual method and turn to automated software that can create listings for you, and respond to completed auctions and payments with whatever message you provide.
Step 10: Never give up: Even when it looks like it is all going wrong, do not stop trying until you succeed. If you keep working at it then you will usually find that you make a real breakthrough just when things are starting to look desperate.
Step 1: Identify your market. Take a while to sit and watch for what sells and what does not out of the items you are interested in. Any market research data you can collect will be very useful to you later on. You will probably see the 'sweet spots' quite quickly - those one or two items that always seem to sell for a good price.
Step 2: Watch 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 auctions might have, because this is where you can move in and beat them at their own game.
Step 3: Find a product: Get hold of a supplier for whatever it is you want to sell, and see what the best rates you can get are - do not be afraid to ring round quite a few to get the best deal. If the eBay prices you have seen are higher than the supplier’s is, then you are set.
Step 4: Start small: Do not throw thousands at your idea straight away - get started slowly, see what works and what does not, and learn as you go. Remember that it is very cheap to try out even the craziest ideas on eBay, and who knows, they might just work!
Step 5: Test and repeat. Keep trying different strategies until you find something that works, and then do not be ashamed to keep doing it, repeatedly. The chances are that you have just found a good niche.
Step 6: Work out a business plan: A business plan does not need to be anything formal, just a few pages that outline the market opportunity you have spotted, your strategy, strengths and weaknesses of the plan and a brief budget. This is more for you than it is for anyone else.
Step 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.
Step 8: Make it official: Once you have made a few thousand dollars worth of sales, you should really register yourself as a business. Do not worry, it is not expensive or hard to do - a lawyer is the best person to help you through the process.
Step 9: Automate: You will probably find that you are writing the same things repeatedly in emails or item descriptions. The time to give up on the manual method and turn to automated software that can create listings for you, and respond to completed auctions and payments with whatever message you provide.
Step 10: Never give up: Even when it looks like it is all going wrong, do not stop trying until you succeed. If you keep working at it then you will usually find that you make a real breakthrough just when things are starting to look desperate.
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