Simple Steps To Successful Selling On eBay
So you want to be a successful seller with your own eBay business, right? Here is a simple ten step path to eBay enlightenment.
Step 1: Identify your market. Take some time to sit down and see what’s selling and what’s not on the items you’re interested in. Any market research information you can collect will be very useful to you later on.
You’ll probably see the ‘sweet spots’ pretty quickly: those one or two items that always seem to sell for a good price.
Step 2: Look at the competition. Before investing any money, see what the other sellers in your category are doing and what their strategies are. Pay special attention to any flaws their auctions might have, because this is where you can come in and beat them at their own game.
Step 3: Find a product: Find a supplier for whatever it is you want to sell and see what the best rates are for you; don’t be afraid to call several to get the best deal. If the eBay prices you’ve seen are higher than the supplier’s, then you’re good to go.
Step 4: Start small – Don’t throw thousands of dollars at your idea right away – start slow, see what works and what doesn’t, and learn as you go. Remember that it’s very cheap to try even the craziest ideas on eBay, and who knows, they just might work!
Step 5: Try and repeat. Keep trying different strategies until you find something that works, and then don’t be ashamed to keep doing it, over and over again. Chances are you just found a good niche.
Step 6 – Create a business plan – A business plan doesn’t need to be anything formal, just a few pages outlining the market opportunity you’ve identified, your strategy, the strengths and weaknesses of the plan, and a brief budget. This is more for you than for anyone else.
Step 7: Invest and expand: This is the time to invest money in the problem. Buy inventory and start spending more time on your business. Set a target number of sales each week, increasing it each time.
Step 8: Make it official – Once you’ve made a few thousand dollars worth of sales, you really should register as a business. Don’t worry, it’s not expensive or difficult to do: a lawyer is the best person to help you through the process.
Step 9: Automate – You’ll probably find that you’re writing the same things over and over again in emails or article descriptions.
This is the time to give up the manual method and move to automated software that can create listings for you and respond to completed auctions and payments with any message you provide.
Step 10: Never give up: Even when it seems like everything is going wrong, don’t stop trying until you succeed. If you keep working at it, you’ll almost always find that you make a breakthrough just when things start to look hopeless.
Once you get the hang of things, you might start thinking that you should quit your job and go into eBay selling part-time. But it’s not always as easy as that – there are all sorts of factors you need to consider. The next email will weigh the case for and against going full-time on eBay.
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eBay: part time or full time? How to decide.
Working full-time as an eBay seller is living the dream: earning a real income, working from home, being your own boss, and everything in between. It’s the promise of a million scams and it’s finally come true, at least for some.
What the success stories don’t tell you, though, is that becoming a full-time eBay seller isn’t for everyone.
You really, really should try it part-time before considering taking it full-time, and even then, caution is advised. Before you burn your suit, here is a list of questions to ask yourself.
How much do I earn from eBay now?
Calculate how many hours a week you spend doing eBay-related stuff (be honest here) and divide that by the average amount of earnings you make in a week. If you were working full time, would you earn as much as you do now?
I have a good job?
Think of what you could lose if you quit your job to focus on eBay. If you have a high-paying job with good prospects for promotion, then it’s worth reconsidering – you may spend a few years and wish you’d stayed in your traditional job, since you’re probably CEO already. .
Would you really make much more money?
Unless you’re selling a lot of small products, most of what you do on eBay will be waiting for auctions to end, and you can wait at work just as easily as you can at home.
This is why making more money on eBay really depends on the type of items you are selling; for low value items, going full time might be a good decision.
For high-value ones, chances are you’ll hit the limit on how much money you have to invest in inventory long before you hit the limit on your time.
Is my home a good place to work?
Apart from anything else, it is possible that the dream of working from home is more of a nightmare in reality. People may start to depend on you to do the things that need to be done during the day.
If you have a wife and children, they may resent the fact that you are in the house, but refuse to have anything to do with them for much of the day. Giving in to any of these things and taking time off work will cause your earnings to drop.
Can I survive if everything goes wrong?
In the end, would you be able to survive if you had a month or two where you literally sold nothing? Or was she desperately looking for a job and cursing the day he discovered eBay? That is the real test.
If you got through all of these questions, then I guess you’re cut out for the eBay life, and even if you didn’t, you’d be surprised how far you can go part-time. In our next email, we’ll show you how to think like eBay’s elite: PowerSellers.
How to think like an eBay PowerSeller.
So what is a PowerSeller? PowerSellers are the people on eBay who have made it, recognizable by the small ‘PowerSeller’ badge next to their name. You’ve probably seen these people out there, and to be successful on eBay, you have to think like them.
How can people get the right to call themselves PowerSellers?
eBay decides who can be a PowerSeller and who can’t, and has strict requirements. To enter the minimum PowerSeller level, you must have a feedback rating of at least 100 (minimum 98% positive) and sell at least $1,000 worth of items each month for three months in a row.
There are different levels of PowerSeller membership as you sell higher value items: $1,000 total is bronze, $3,000 is silver, $10,000 is gold, $25,000 is platinum, and $125,000 is titanium.
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If PowerSellers ever fail to meet the required amount of sales, or if their feedback is below 98% positive, then they lose their PowerSeller status. In short, the only people who become PowerSellers on eBay are the people who have been successful for a long time and are well on their way to being successful.
The store and the market.
This is the most important part of understanding how PowerSellers think. They don’t see what they’re doing as a random bazaar or hobby; instead, they see themselves as a business.
put it like this If you have a stall in a market, chances are you have a general area of business, but you mostly just sell what you can get your hands on that week.
If your dodgy friend got a bunch of discounted work, then that’s what you’ll be selling. This can be fun, and when you have a good week, you’ll have a really good week, but it’s not a way to run a real business long-term.
PowerSellers think much more like stores. They sell the same things over and over again, every week: regular stock for regular customers. They do ‘boring’ business things like keeping inventories and budgets.
They know what they are going to sell, how much they are buying it for, and how much they expect to sell it for. Just like a real store, sometimes there may be tough times, but your income is stable and your business may grow slowly.
The best advice I can give you for thinking like a PowerSeller is this: don’t take long-term risks for short-term gains. Take care of your reputation, manage your sales properly, provide good customer service and the rewards will come to you in due time. And you’ll get a little badge next to your name that will make people trust you more!
One possibility you may have been aware of by now is what eBay can do for any other business you may have. Remember, millions of people visit eBay every day. Why keep everything separate when you’re starting to harness that kind of power? The following email will show you some ways you can use eBay to grow your other businesses.
How to use eBay to grow your other businesses.
Most of the people who make money on eBay don’t actually make all that money on eBay. There are all kinds of ways you can use eBay to help your existing businesses.
The supply side.
If you have leftover stock or used items from another business you run, why not sell them on eBay? You can make this a regular thing, using it to get rid of things that won’t sell for the premium you’re asking for in a store, or items that are no longer in demand in the town or city where your business is located.
You can really make a lot of money this way, if you know what you’re doing. Of course, you’ll already be an expert on the items you’re selling, as you use them in your business, and you’ll know that the items are of sufficient quality to be able to sell them. This is a whole new market for your old inventory!
Not only that, of course, but remember that your good reputation on eBay will make you a great buyer. If you ever want to get something for your business, chances are you can get it on eBay at a discount.
The sales side.
This, however, is where eBay’s true power lies. eBay offers you an “About Me” page, where you can write whatever you want and link wherever you want. This means you can drive traffic to your business website by linking to your website from your About Me page and linking to your About Me page from each auction.
To create an About Me page, simply click ‘Community’ on the toolbar, scroll to the bottom of the page and click ‘Create an About Me Page’.
You then have the option to enter your own HTML or let eBay guide you through the process. All you need to do is write a bit about your website, link to it, and you’re good to go – you’ll notice more people start visiting your site right away.
There are thousands of people who rely on this technique to drive eBay traffic to their website; With a little persuasive sales copy on your site, they say, you can sell directly to buyers, cutting out the eBay middleman. Plus, all the traffic you’ll get will be targeted, because the people who click were interested in your auction to begin with.
This can be a really powerful technique, especially if you already have an eCommerce site. Even if you haven’t, you may find it worthwhile to set up a website that does nothing more than list your eBay inventory for a few dollars off each item, with a PayPal “Buy Now” button for each item. Then simply make the link to your About Me page say ‘Visit my website for even more deals!’, and voila.
Now that you’ve seen how to attract visitors to your website, you might want a little help presenting your auction to buyers. That’s why our next email will show you the secrets to eBay search engine dominance.
Tame the eBay search engine.
If you know what you’re doing, you can quickly find what you’re looking for on eBay, and the more you know about how buyers find it, the easier it will be to find it. Here are some gold panning rules.
Be specific: If you’re looking for the first edition of the original Harry Potter book, you’ll get more searches for “Harry Potter Rowling Philosopher’s Stone First Edition” than “Harry Potter.” You’ll get fewer results, but the ones you do get will be much more relevant.
Misspelling: It’s a sad fact that many sellers on eBay simply don’t know how to spell. Regardless of what you’re looking for, try to think of some common misspellings – you might find a few items here that have slipped through the cracks.
Get a thesaurus: You should try to find all the different words someone might use to describe an item, for example by looking for both ‘TV’ and ‘television’, or ‘phone’, ‘mobile’ and ‘cellphone’. However, where you can skip the item type altogether and search for things like make and model.
Use categories: Every time you search, you’ll see a list of categories next to the search results. If you just searched for a CD name, you must click on the ‘CD’ category to see results for that category only. Why bother looking at a bunch of results that don’t interest you?
Don’t be afraid to browse – once you’ve found the category where the items you like seem to be in, why not click ‘Browse’ and take a look at the entire category? You may be surprised by what you find.
Few people realize how powerful eBay’s search engine is – a few symbols here and there will do wonders for you.
Wildcard searches: You can put an asterisk (*) in a search phrase when you want to say “anything can go here”. For example, if you wanted to search for a car from the 1950s, you could search for ‘car 195*’. 195* will show results for any year in the 1950s.
In this order: If you put words in quotes (“”), the only results that will be displayed will be those with all the words in quotes. For example, if you search for “The Lord of the Rings” you will not get any results that say, for example, “Lord Robert Rings”.
Exclude words: Put a minus sign and then put the words in parentheses that you don’t want to appear in the search results. For example: “Pulp Fiction” -(poster, photo) will find items related to Pulp Fiction but not posters or photos.
Either: If you want to search for many words at once, simply enclose them in parentheses: the TV example above could become ‘(TV,television)’, which would find items with either word.
However, don’t get too tied up in learning the ways of the search engine: a surprising number of eBay users don’t search at all, preferring to search through eBay’s category system and save their favorites in their browser. The following email will show you how to make sure these people can find you too.
Many people who are trying to start an eBay business spend a great deal of time trying to figure out which items sell the best on eBay. Many of these people have elaborate systems for determining this information, and many others purchase expensive courses that teach them how to find this information as well.
None of that is necessary. Everything you need to know is right in front of you – on the eBay website!
Take a look at any category, and you will see the word ‘hot’ beside some items. These items are not marked as hot sellers randomly – there is a method to the madness!
Items only get marked as hot when there have been more than thirty bids placed on the item. All you have to do is wonder around the eBay website for a while to find an item that will do well.
However, most power sellers will agree that there is more to figuring out which items sell best than this. In fact, they claim that it is a science.
A great way to start your search for items that will result in a successful auction in the future is to do research on the auctions that were successful in the past. You can view old listings that have completed at: http://listings.ebay.com .
A new way to determine what items sell best on eBay is ‘eBay Marketplace Research.’ Marketplace Research will allow you to view important statistical information on the buying trends at eBay.
This product contains all of the data one could possibly ever need to determine how well – or how poorly – an item will do in an eBay auction. There is a small fee for using the eBay Marketplace Research tools, however.
Another tool that will be very useful in your quest for finding hot selling items for your eBay auctions is the listing of popular eBay search terms that is found on the site.
This list can be found at: http://popular. ebay.com/ . This list is divided into categories, which will make it easier to determine how popular your potential item may be.
Don’t make the mistake of thinking that an item will do poorly, or that it will do well without doing your homework on the item first.
Some of the strangest things sell for the highest prices, while items that would sell quickly in any other environment just sit there. Almost any eBay Power Seller will tell you that the key to a successful auction rests in the amount of research you put into the items you hope to sell.
This list is divided into categories, which will make it easier to determine how popular your potential item may be.
Don’t make the mistake of thinking that an item will do poorly, or that it will do well without doing your homework on the item first. Some of the strangest things sell for the highest prices, while items that would sell quickly in any other environment just sit there.
Almost any eBay Power Seller will tell you that the key to a successful auction rests in the amount of research you put into the items you hope to sell.
This list is divided into categories, which will make it easier to determine how popular your potential item may be. Don’t make the mistake of thinking that an item will do poorly, or that it will do well without doing your homework on the item first.
Some of the strangest things sell for the highest prices, while items that would sell quickly in any other environment just sit there. Almost any eBay Power Seller will tell you that the key to a successful auction rests in the amount of research you put into the items you hope to sell.
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