The Secret To eBay Success

For serious entrepreneurs, however, selling on eBay can be a good way to start a new business if you're 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-has 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 95 million eBay users who spend $894 per second.
• Most eBay sellers are individuals and small business who sell everything from porcelain dolls to DVD players to Mercedes convertibles.
• Every day, more than 2 million new items are added to the eBay marketplace, more than 10 million bids are placed, and more than 100,000 new people register to buy and sell on eBay.
• At any given moment, eBay is conducting some 19 million auctions, divided into more than 45,000 different categories.
• About 2 million new items are offered for sale every day.
• One company is grossing more than $5 million per year selling brand-new pool tables on eBay. Their eBay store is so profitable that they've closed their retail location and now sell solely online. That's right, they're making $5 million by selling 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 has at least 100 feedback ratings-98 percent positive-and maintains at least $1,000 in average gross monthly sales for three months, amongst other criteria) 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 and so on.

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 marketplace, which is exactly what eBay is.

You may be the only store in town that's selling that one-of-a-kind, custom-made Dale Earnhardt Memorial Bobble Head Action Figure (Earnhardt 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've 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 10,000 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 on eBay.

How to Handle Negative Feedback from Customers on eBay

As an eBay expert, I strive for 100% customer satisfaction. Unfortunately, some eBay users are too quick to leave negative feedback without giving the seller a chance to respond. So, what do you do when someone slams an undeserved negative feedback?

Instructions

Step1

You have done everything right. You found a great item, taken a nice photo of it, written an accurate detailed description, sent professional emails to the buyer, and shipped the item promptly and securely. Then, you log on to check your eBay account, and BOOM! There it is. Someone has left you undeserved negative feedback. You are heartbroken. Now what?

First of all, this is not the end of the world. With negative feedback, it isn’t a matter of IF, it is a matter of WHEN. It probably isn’t your fault. The buyer may have had a bad day, lost his job, or had a fight with his wife. You have no idea what happened in his life that day. He impulsively takes it out on you because you are accessible and you can’t fight back. He takes out his aggressions on the computer, and you are the recipient.

Step2

Don’t rush right out and leave negative feedback for the buyer that says, “WHAT A JERK –AVOID THIS BUYER.” This will only make you look bad. If you choose to leave negative feedback for him, keep it unemotional and professional. You can say, “Disappointed that this buyer didn’t contact us first – we always refund!” Shoppers will look at your feedback and wonder what the negatives are all about. Make it clear that you are the bigger person and you will always handle problems professionally and be fair if given the opportunity.

Step3

Don’t be impulsive and slap a negative feedback on someone without thinking about how it will affect your reputation. Be careful what you say!

Step4

When you do get a negative feedback, be sure to leave a reply below it on your feedback profile giving your side of the story. For example, we usually say, “Customer did not contact us regarding problem. We always refund!” Shoppers will see that you were blindsided with this remark and that you are willing do whatever it takes to make the customer happy.

Step5

You must be proactive in taking steps to prevent negative feedback. You want to satisfy your customer so that he is eager to leave positive feedback for you.

Step6

Maybe you did make a mistake. Maybe you sent the wrong size or missed a flaw on the item. In all fairness, a buyer should give you a chance to correct the issue before slamming you with negative feedback. We are all human, we all make mistakes. Unfortunately, a small percentage of eBay members are too quick to leave negative feedback at your expense. This is part of doing business. Be sure to block that member from bidding on any more of your items. You probably don’t want to work with someone who isn’t willing to let you correct a mistake.

Step7

Check the resources section below for more information on eBay selling.

Tips & Warnings

• Treat customers the way you want to be treated as a customer.
• Remember that eBay is a public forum - think before you react to neutral or negative feedback.

How to Start a Business On eBay

Selling on e-bay is one of the easiest ways to make money online. If you want to start a business with less then $1,000, then starting an e-bay business might be the way to go. Every day hundreds of millions of people shop on e-bay. If you have stuff you don't want, then sell...

Instructions

Step1

You will first need a computer to get started. You should also get a camera, email, printer and a product to sell. If you don't know how to sell, then read a few books on e-bay before you start.

Step2

If you can't find a wholesaler, then buy products at discount stores.
You might be able to find products at Good Will, The dollar store and other discount department stores. Buy products on e-bay that's under price and resell them. You should also go to garage sells and flea markets.

Step3

Make up a name for your e-bay business. You should make up a name that's related to your business. If you think of a unique name. It can have a big impact on your business. You should choose a name that will stand out from the rest.

Step4

Once you have a name, then register for a pay pal account. Most of the e-bay sellers use pay pal accounts. If you don't have a pay pal account, then it might effect your e-bay business. You should also sign up and become a member on e-bay after you get your pay pal account.

Step5

If you want to reap the tax benefit, then you should structure your business. These are some of the structures you can use for your business, Sole proprietorship, General partnership, limited partnership, limited liability, s corporation,corporation.I would talk to an accountant for more information.

Step6

If you have a lot of items, then get a e-bay store. You can increase your sells rapidly with an eBay store. You'll be able to keep track of all your products.

Step7

Once you sell a product, then you will need boxes to put them in. You can get boxes free on e-bay. The US Postal Service teamed up with e-bay, now you can get boxes free and clear.

Step8

Go to Entrepreneur.com, E-bay.com and read articles on ezine to get more information on eBay.

Tips & Warnings

• Get educated before you start a e-bay business.
• Find your niche first.

How to Make Money on eBay Selling Stuff You Already Have

What if I told you that you have hundreds of dollars worth of items lying around your house - and you can sell these things on eBay for cash? As an eBay coach and consultant, the most common question I am asked is, What can I sell that I already have? Read on.

Instructions

Step1

Evaluate your home room by room. The first thing to look for is anything new in the box, new in the package, or new with a tag. Gifts that you received that you've never used, items you bought just because they were on sale and they are still in the package, and clothing.

Step2

Let's start in the kitchen. Calphalon cookware (especially the larger pieces), Pampered Chef items (especially the stoneware and gadgets), Kitchen Aid items, vintage Pyrex, vintage Tupperware, cast iron skillets, Wilton cake pans, and casual and formal china. Older cookbooks such as Southern Living, Wilton Cake Decorating books, and vintage diet books are great. It all sells.

Step3

Now on to the office. Do you have any vintage items such as old Texas Instruments calculators, old Polaroid cameras, unopened office supplies, printer labels, unopened printer cartridges, old (vintage) Apple computer manuals, CD Rom games, or unopened packages of CDs or DVDs?

Step4

Take inventory in your bathroom. Used bottles of perfume (Mary Kay, Lancome, Avon, Estee Lauder), unopened cosmetics (sell in lots), unused high end hair products such as Redken, Biolage, Aveda, and Nexxus do well. Anti-aging products by Olay, Aveeno, La Roche Posay Anthelios, and Clinique are excellent sellers. Even over the counter dandruff shampoo like Denorex, Selsun Blue, and Neutrogena T-Gel will sell if unopened.

Step5

Check the medicine cabinet. Again, anything unopened or new in the package will sell. Check the expiration date and discard if expired. Look for skin healing products like Cortizone 10, Psoriasis ointment, digestive medicines like Prilosec and Tagamet, even toothpaste. Sell these types of items in lots

Step6

Your teenager's room. Acne products are great sellers. My daughter tried ProActiv for a while but we stopped using it yet had a few month's supply left. It sold quickly and for a nice profit. Trendy items like character themed bedding, trendy clothing from popular stores like Abercrombie, Aeropostale, and the Gap do well.

Step7

Your own closet. Have any clothing with the tags still on it? Brand names like Ralph Lauren, Ann Taylor, Banana Republic, Chicos, J Crew, and White House Black Market are all good sellers, even if gently used.

Step8

Next look in the garage. Tools by Black and Decker, DeWalt, Makita, even Sears are good sellers. Sports equipment such as football pads, ice and roller skates, Lacrosse equipment, and tennis racquets will sell.

Step9

As you can see, your home is full of possibilities and this article has only scratched the surface. Check the links in the resources section for more tips on stuff you can sell on eBay - stuff that is just lying around your house!

Tips & Warnings

• Do your research on eBay and find out what your stuff is worth. Check my article on the side bar that explains how to price your items to sell on eBay.
• Be patient. If your item doesn't sell in a week, don't worry. The right buyer just hasn't seen it yet.
• Don't expect to get rich quick on eBay. You won't. But you can raise some cash if you do your research and spend some time on this venture.

eBay Myths

eBay Myth #1:

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You have to invest a lot of money in wholesale goods to sell on eBay

Many people believe the only way to succeed at selling in online auction is to spend thousands on wholesale goods. While there is nothing wrong with selling wholesale goods, you should know that it is not the only way to generate profits on eBay.

You can slash your workload in half by selling drop-ship goods. You simply send the order to a drop-ship company, and they will ship their product directly to the buyers. You do not have to handle a single package; you simply collect the money!


eBay Myth #2:

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If you buy goods at wholesale prices, you will always make a profit

eBay attracts a completely different audience than upscale retail stores do. Just because you are able to acquire $2000 Armani suits at $1500 apiece does not mean you will make a profit reselling them. Other eBay sellers might be selling the same merchandise for much less.

In some occasions, however, the opposite also applies. You may be able to sell something for more than what it might cost in a retail store!

You also have to take into account whether or not the value of your inventory will increase or decrease. If you are unable to sell your goods fast enough, the value of your inventory will likely decrease over time!


eBay Myth #3:

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All drop-ship companies are the same

Choosing honest and reliable drop ship companies is immensely critical. If you are selling goods for a drop ship company that fails to deliver on time, that reflects directly on your credibility.

The last thing you want is a bad seller rating on eBay.

Many drop ship directories and sites do not carefully screen drop ship companies. It is important that you do your research before affiliating with a drop-ship company. It literally means the difference between incredible success and failure.


eBay Myth #4:

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Sellers care the most about price

It is true that auction bidders are cost-conscious; however, eBay bidders care more about your selling reputation and your quality of service.

People like to know that they are making a wise purchase decision and that their goods will be delivered on-time, as promised.

You can earn more money selling the same item as other eBay sellers by applying a few tactics to boost your credibility.

Get Higher Prices by Experimenting with Auctions

* Trying to stand out from a crowd by offering free
shipping or lowering prices and raising shipping costs.

* Changing the keywords in the your auction titles. Did
you know eBay will tell you the five most frequently
searched phrases for each category. Well eBay does. Even
better, eBay even puts them in order. You can find these
five most frequent searches by going into any category and
looking at the "Related Searches" links found just under
the search box at the top of every category page.

* Removing links to store items. I've seen a lot of
auctions with columns of links to store categories. Do
these links help people find additional items or distract
them from the single listing? I don't know.

* Trying different categories, or using the two
category option. I know from my past results a Marx toy
train accessory will usually bring more money listed in one
of the Lionel categories. (Lionel and Marx are different
brands of toy trains.) I wouldn't know that if I hadn't
tested it.

A short aside here. eBay's rules say you must list
the item in the most relevant category. Because there is a
Marx category, the item should be listed there. To get
around this, I list in BOTH categories, and include the
words "USE WITH LIONEL" in the title. That is also an
acceptable way to get a keyword into a title. "USE WITH,"
or "FOR" and the secondary keyword.

* Remember to pay attention to the eBay listing fees
when selecting prices to test. An auction listed with a
starting price of $9.99, will cost you less in listing fees
than the same auction with a starting price of $10.00.

Selling used Shoes on eBay

Here are a few tips to shop and resell used shoes on eBay:

1) Check the sole. Is there enough sole left for another person to put more miles on the shoe? Leave it behind if there are holes in the sole. On black soles, you can add a coat of she polish on the sole to make it look newer.

2) Check inside the shoe for rips or tears.

3) If applicable, do laces need to be replaced? If you've found a really nice shoe with no laces, or broken laces, it might be worth springing for a $2 pair of new laces.

4) Look for scratches and stains. Some can be covered with a coat of shoe polish.

5) Fabric shoes - are they dirty? Can you throw them in the washing machine? Many times, just washing the shoes can make them look like new.