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Ebay Business |
The Secret to Real Ebay Success
Copyright © 2005 Author
Q. I hear so much about people who started selling on eBay and eventually turned it into their full time business. Is it really possible to build a profitable business just selling junk on eBay? -- Alex K.
ANSWER:
If Fred Sanford were alive today, Alex, I’m sure he’d be earning his ripple money by selling quality junk on eBay. While it’s also true that one man’s junk is another man’s treasure (I have a garage full of treasure to prove this point), your chances of building a profitable business selling “junk” on eBay (or anywhere else, for that matter) are slim to none. While there is a lot of junk/treasure for sale on eBay, it is typically sold by individuals who have “I break for yardsales!” bumper stickers on their cars and not serious business people.
For serious entrepreneurs, however, selling on eBay can be a good way to start a new business if you are willing to put in the time and energy required to make the business a success. eBay is also a good option for existing businesses to expand their reach by selling online. Everyone from small used car dealers to giant companies like Dell Computers have discovered that eBay is an excellent place to hawk their wares simply due to the huge number of folks who visit the eBay site on a daily basis. Nowhere else on earth will you find such a large pool of potential customers.
Consider these numbers:
- There are nearly 69 million eBay users who spend $59 million every day.
- Most eBay sellers are home-based businesses that sell everything from porcelain dolls to locks of Elvis’ hair to $100,000 Mercedes convertibles to $5 million dollar vacation homes.
- Every minute of every day more than 150 new items are listed for sale, more than 500 bids are placed, and seven new people register to shop on eBay.
- At any given moment, eBay is conducting some 12 million auctions, divided into about 18,000 different categories
- About two million new items are offered for sale every day, and 62 million registered users scour the site to find them.
- One company is grossing more than $5 million dollars a year selling brand new pool tables on eBay. Their eBay store is so profitable that they have closed their retail location and now sell solely online. That’s right, $5 million dollars from the sale of pool tables: proof that you can sell just about anything on eBay if you know how to do it.
Be aware, however, that eBay is no magic bullet. As any eBay Power Seller (a seller who sells a minimum of $10,000 in goods per month) will tell you, building a profitable eBay business takes hard work and requires long hours, and often the financial rewards do not make it worth the effort spent.
When it comes down to the mechanics of it all, running an eBay business is no different than running a brick and mortar business. You still have the same considerations regarding product selection, inventory purchasing, product pricing, inventory management, order processing, fulfillment, customer service, etc.
You must also consider the legal and accounting aspects of the business. Just because you’re selling online does not mean that Uncle Sam won’t expect his piece of the pie. Revenue generated by an eBay business is just as reportable and taxable as revenue generated from a brick and mortar store. And if you sell to customers within your state you may also be responsible for collecting city, county or state sales tax.
One of the biggest obstacles to building a successful eBay business may be the stiffness of the competition. Many sellers sell identical items and the price wars often get ugly, but that’s to be expected in a free market place, which is exactly what eBay is.
You may be the only store in town that’s selling that one of a kind, custom made just for you, broke the mold after they made it, Dale Earnhart Memorial Bobble Head Action Figure (Earnhart fans would string me up if I called it a Doll), but do a quick search on eBay and you’ll probably find a hundred others just like it.
So, can you build a profitable business selling on eBay? Certainly, thousands of people have done it and so can you. Here are a few tips to help get you started.
Sell Quality Products
Don’t sell junk! Leave the knick-knacks and fake leather jackets to the less informed. You should offer only quality products at a fair price.
Research The Competition
Once you have your product in mind, don’t invest a dime on inventory until you have spent some time on eBay to see what the competition is doing. If you want to sell motorcycle helmets, for example, you should look at current auctions to see how many others are selling similar helmets and what prices they are charging. This step is vital since you may discover that you can’t compete with current sellers on price or there is simply no market for what you have to offer.
Start Slowly
Many people believe that the more items they have for sale on eBay the better. They will invest thousands in inventory and spent hundreds on listing fees (yes, eBay charges you to list items for sale and collects a final fee if the item sells). Those are the folks that usually end up with ten thousand Ginsu knives forever in their garage.
Test, Test, Test
A fair portion of eBay auctions result in no sales, so it’s best to test the waters before jumping in with both feet. List a few items and see how they sell. If an item doesn’t sell, list it at least twice more. Some items might not sell the first time, but may the second or third, then sell steadily from then on. If an item gets no bids the first time, consider adjusting your price or your terms. If an item sells well, keep it in stock and then experiment with another item.
Do Your Homework
eBay is too broad a subject to be covered fully here, but there are a multitude of books available that can help you start an eBay business. In fact, I bet you’ll find most of them for sale at this very moment at eBay.
What’s my bid…
If you want ideas on how to start a Ebay business, including what to sell on ebay, and how to earn good money without your own website and without the need to ship anything then I highly recommend Visit at WholeSale - Portal
Online Auction Tips
Or if you are looking for closer mentorship and help to set up multiple income streams using Ebay I recommend Ebay Millionaire Secrets
Further Ebay reading
An Introduction to Ebay Selling
Success in any business is built on a foundation of customer service. eBay is no exception - every day thousands of eBay buyers register. I have a simple strategy that I use in all my auctions called the "eBay Welcome"
Why 95% of all Ebay Sellers Fail
eBay is now the 8th most visited site on the internet and it has just one purpose - sales. With 40 million visitors per month most eBay sellers are missing a golden opportunity.
Multiple income streams on Ebay Within 30 minutes
If like thousands of people you have been using eBay and wondering how to gain a regular income, and work from home, this article will help you.
The Secret to Real Ebay Success
I hear so much about people who started selling on eBay and eventually turned it into their full time business. Is it really possible to build a profitable business just selling junk on eBay?
Nine Simple Ebay Selling Hints
Some of these eBay hints will save you money, others will result in higher prices. Either way, these will help you run more profitable eBay auctions.
Bananas - Your source of Ebay Packing Materials
This is the most boring stage of the process and subsequently where some eBay sellers let themselves down. If the buyer receives thier purchase poorly packed and broken then they are not going to be happy and will want a refund and more importantly never buy off you again which will have negated all the hard work that you put into the previous stages of your professional auction listing. |
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| Feature Article: Make the Leap to Home Based Business Success |
| Feature Article: Make the Leap to Home Based Business Success
Copyright © Stone Evans, The Home Biz Guy
Before you can have a successful home based business, you must first possess 3 "intangibles." These are things that must come from WITHIN you.
===> Intangible 1 <===
First, you must have a strong WHY.
Why MUST you have a successful home business? What is driving you? What is it that you CAN'T have in your life anymore and/or what is it that you absolutely MUST HAVE now?
For me, I couldn't stand working 12+ hours a day anymore and missing the experience of my children growing up. I also absolutely HAD TO HAVE the freedom of being able to control my life and finances through a little box (laptop computer) that I could carry with me anywhere in the world and not be tied to anyone's time pressures or demands but my own. That was my carrot and my stick. I felt a great pain deep in my gut of missing out on my children's lives and the incredible freedom that succeeding in a home based business would provide for me. I found my why. You MUST find yours.
===> Intangible 2 <===
You must BELIEVE that it is possible.
If you don't believe that it's POSSIBLE for you to have a successful home based business or make your living from home, you won't. It's that simple.
For me, figuring out that it was possible was just a matter of realizing that many other people were ALREADY making great money working from home. If they could do it, I could too. It would just be a matter of figuring out what those people were doing and then adapting it to my situation.
There is no shortage of undeniable PROOF that people (millions of them) are making money working from home. Just get online and do some research and you'll find countless testimonials and stories of REAL PEOPLE making real money on the Internet. Or head to your local bookstore and you'll find the same documented evidence of this fact. Truth is, it's getting easier and easier to make money with your own home based business.
I've always said that "affiliate marketing" (a simple way to make money from home) is the job of the future. In the "old" days, you had to go to a potential employer, apply for the position and hope for the best. Now you can simply go to any company you want, fill out their affiliate application and start work immediately. Affiliates are the new working class. In fact, making money with affiliate programs or making your living on the Internet is WAY MORE than possible. It is pretty much (or will be soon enough) unavoidable now. Affiliate marketing is the "job" of the future that's already here TODAY.
===> Intangible 3 <===
You must be willing to MAKE THE LEAP.
Ready, FIRE, then aim... This is the operating philosophy you MUST adopt to succeed with a home based business.
That's backwards for most people who like to aim before they fire. The fact is that home based business success is a moving target... The only thing constant about it is change. You need to stop analyzing the game and simply jump into it. You can't learn from the outside... You have to be IN THE RING to truly understand it.
The lesson here is that you will never really be READY to start a home based business. You simply have to start one. It's like having children... You're never really ready, but when it happens you adapt and grow. This is what I call "Making the Leap."
The good news is that the cost of failure with having your own home based business is very small. In the "brick and mortar" world you need to evaluate things very carefully before you decide to open up a business. It's almost always necessary to invest thousands of dollars to get an offline business off the ground. However, on the Internet you can often start a successful business for less than $100.
You simply need to get IN THE GAME... Each moment that you stay "out there," you're wasting valuable time that you could be learning and skills necessary to build a successful home based business. In fact, if you're not in the game yet, you're ALREADY behind the times. Make the leap to creating a successful home based business today!
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| Tested & Proven Home Based Business Opportunities |
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Finding Your Home Business Niche
When some folks begin to think about a business of their own, they know in that very moment what kind they are going to start. Then, there are the rest of us... homebusinessniche
Starting Your Home Based Business On A Shoestring Budget
Whether seeking a supplemental income or a full-time income, many folks have undertaken the task to discover a viable home based business solution to meet their personal needs... shoestringbudget
How to Stay Focused on Your Home Business Goals
When you are the owner of a home business, you will find hundreds of distractions that vie for your time, energy and focus... businessgoals
Your Home Business: Turning Pennies into Dollars
Henry Ford taught us that to simplify the manufacture of automobiles, that the best way to do so was to install the assembly line. That one change revolutionized the auto manufacturing industry permitting the industry to build cars at a cost whereas the average person could afford to buy one... intodollars
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When you are starting out in a new home business and no one knows who you are, one of the greatest challenges you will face is how to drum up new business... onbudget
Children in the Home Business Environment
Operating a home business is seldom easy and interruptions come in all shapes, sizes and forms. Between the family, friends and neighbors who call or come by, and the telemarketers who insist on ringing your number off the hook, getting through the workday can be a real challenge... environment
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Learning how to get the most organization from your email software is very likely the most important skill you can learn to conduct a successful online home business... business
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When you need an auto mechanic or an air conditioning repairman, where do you turn for help? Sure, some people turn to the yellow pages. But most will turn to friends and family and ask if they know of anyone who can do the work... influence
Understanding the Different Methods of Offline Promotion
No business can survive the long run without some form of consistent advertising. As a result, most business owners will eventually consider using advertising to promote their business... offlinepromotion
Promoting Your Business with a Copper Wire? Think Again.
So many people launch their first or second business with the misconception that they can survive without advertising. It is their fear of failure that almost single-handedly assures their failure. They fear spending the money that they need to get and keep their business running during those early years of their operation... thinkagain
How to Calculate ROI (Return On Investment)
ROI (Return on Investment) is probably the most important calculation one needs to make to ensure the long-term viability of their business. It is not enough to build in a profit margin on the product or service being offered. One must track with proficiency the amount of dollars being invested into attracting sales and how much ROI those dollars put back into the business... investment
Tracking Offline Advertising Success by Measuring ROI
The great promise of online advertising has always been that advertisers will now be able to effectively track the successes and failures of their online advertising efforts. This promise has been met... measuringroi
How To Measure Advertising Success Online
It is easy for me to tell you that you need to track the success of your online advertising. It is also easy for me to tell you that you must do so in order to know which of your advertising is helping you to make a profit, to break even, or to break the bank. Far too many advertisers get caught in the online money
pits in an effort to develop their online business... successonline
How to Maximize the Value of Your Time
How is your business doing? Is it growing, stagnating or losing ground? If your business is not growing, it could be the result of a poor business idea or plan, a lack of advertising, or the mismanagement of your business’ resources... yourtime
| Home Business Information |
Accounting Home Based Business
An accounting home based business or one which specializes in bookkeeping has a high chance of being successful...
Home Business Credit Card
Why bother with a home business credit card ? Well…..from a tax and accounting perspective it is important to separate your personal income from your business income...
Limited Edition Ebay Flipping
Most people know about house flipping. Probably not an easy business right now but the principal is the same for limited edition eBay flipping...
VoIP Home Based Business
There are a few opportunities which deliver true residual income and a VoIP home based business is one of them...
Home Staging Business
If you like meeting people, have a design flair and enjoy decorating, then a home staging business could be for you...
Adsense Privacy Policy
The change to the Adsense privacy policy in latest Google TOS is the item which requires action from the largest number of Adsense publishers...
Toy Rental
Toy Rental home business. You can create a business from everyday items at home...
Home Based Internet Business
Building a home based internet business is really hard when you first start out. There are so many programs, so many guaranteed money making opportunities and so so much to learn...
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