Starting an eBay business in ten easy steps
In 2012 eBay had over 112 million active users. and its goal is to handle $300billion worth of transactions in 2015. Yet, despite its sheer size, eBay has worked hard in order to make it easy for new sellers to get started and become successful. Here are ten simple-to-follow steps for building a new, successful and lucrative business on eBay.
1. Just do it The best way to start is by selling things you already own and don't want. One successful eBay seller calls this the 'laundry basket approach' because what you should do is take a laundry basket around the house and gather 15 items you no longer want. You should then set aside time to list all the items for sale on eBay, become familiar with the process and gain some selling momentum. The value of starting with items you already own is that (a) you are already familiar with them so it should be fairly easy to describe them for buyers,( b) they are easily accessible, allowing you to start your business immediately and (c) they cost you nothing to obtain; so, if you make mistakes, it won't be costly. There is also some benefit to starting slowly. Spend a few weeks, or even months, learning the ropes before you invest a lot of time and money in your eBay business.
2. Set aside a regular time Set aside a certain part of the day, or particular evenings each week, to pack up auctions that have ended, list new items for sale and respond to emails from potential buyers. Not only does this ensure that your new business will get up and running - but keeping sold items moving out the door also helps make space for new merchandise. Remember to keep a record of who bought what and at what price.
3. Take advantage of digital photography You know the old saying 'a picture is worth a thousand words'? Never was it truer than on eBay. Though item descriptions are important, the photo may be even more essential. In addition to taking a crisp image (or images), you should make sure that you clear the immediate area of clutter or, best of all, photograph the item against a clean backdrop.
4. Learn about feedback rating - and boost it It is very important to build a positive feedback rating and also to build a positive credit record. You really shouldn't start a full-time business until you have a feedback rating of at least ten and have earned a star next to your user name. Higher feedback ratings mean higher sales.
5. Stick with a niche Once you have developed a process for regularly listing and selling items on eBay, it is time to start specialising. Sellers who specialise in a particular product category have an advantage over people who sell a wide variety of goods. However, by 'specialising' I don't mean necessarily specialising in a particular product. Instead, specialise in a particular group. For instance, you might specialise in people who collect fountain pens or people who like to buy high-fashion clothing. Remember, too, to find a niche that you are actually interested in. This way you can become an expert in that category, which will give you a significant advantage.
6. Invest in your business Obviously, eBay selling doesn't require much in the way of equipment, but three tools are essential: a computer, a digital camera and a postal scale. When you buy a digital camera, choose one with a 'macro setting'; this will allow you close-ups of smaller items. To begin with, you can get by with borrowing a digital camera and weighing shipments at the post office, but once you start getting busier a lack of regular access to either of these items will really slow your business down.
7. Remember to be flexible
Just because you may specialise in a particular niche or niche group doesn't mean you should ignore other profitable opportunities. You need to be able to move in and out of markets to match trends. A useful source of information about popular products is eBay's own Hot List ( http://pages.ebay.com/sellercentral/whatshot.html).
8. Build your brand With competition on eBay stronger than ever, finding a way to distinguish your business is important. If you look like every other seller, why would someone buy from you? Invest in having your own eBay shop and developing your own website. Try and give your listings a professional look and feel.
9. Watch your mailing costs One of your major expenses is going to be post. Shop around for the most competitive prices.
10. Join the eBay communityYou will find lots of help with starting, running or growing your business on eBay itself. For instance, the discussion boards on Seller Central are excellent for getting quick answers to frequently asked questions, learning how to write better listings and creating sales templates. See also http://pages.ebay.com/help/account/community-help.html which has all kinds of tips for getting the most out of eBay.
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