Many people attempt to run a successful eBay business and many fail. I am one of the few that have succeeded. Here are five steps that I believe will help you on the way to becoming a successful eBay Powerseller like me.
1 – Market Research.
Find out what sells well and what doesn’t. You may think you have the best product in the world but this means nothing if there is no market for it. Watch items similar to what you are planning to sell and find out if they are selling well and if there is enough margin between your purchase price and the average sales price for you to make profit, don’t forget to take into all fees such as final value fees and PayPal fees etc.
2 – Size Doesn’t Matter.
Many people rush straight in and think because they have a good product they should list hundreds of the item and will become a Powerseller straight away and make lots of profit. Thinking like this will get you nowhere; start small is the best advice I could give anyone starting up. Don’t rush in because this is when mistakes happen and when money is involved mistakes will be costly. Start small and grow your business gradually, success doesn’t happen overnight.
3 – Make it official.
Once you have a few sales behind you and are planning on expanding make the business official. People will look at a business with trust and providing you live up to the expectations your sales will improve through your new status. A Lawyer is the best person to speak to regarding making your eBay business official.
4 – Automation.
Writing email after email and carrying out repetitive tasks can take a lot of valuable time away from you, time that could be spent elsewhere carrying out tasks such as sourcing new products and thinking of ideas to improve profitability and the uniqueness of your brand. Investing in some good software and taking advantage of eBay’s excellent software can save a lot of time and is definitely worth the investment. Automating time consuming tasks will give you more time to spend on more profitable things and will help your business succeed. As an example, you should invest in the best small business CRM software. This will help you better establish and improve your relationship with your customers. This software will also help you easily manage the concerns both of you existing and possible clients.
5 – Never Quit!
Even when things seem to be going wrong and the panic alarms are sounding never quit. Perseverance is needed in any business and eBay is no different, chances are any bad patches you are experiencing are just temporary and if my experiences with eBay are anything to go on you will definitely come out of this situation smiling.
Following these steps should help you on the way to running a successful eBay business and with a lot of perseverance and determination you too could be quitting your day job and becoming a full time eBay seller and enjoying the lifestyle and flexibility that comes with it.