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10 Sure-fire Ways
to Kill Your eBay Business.
It's surprisingly easy to kill your eBay business, if you're not
careful - sure, you can start over from scratch without it
costing you anything, but do you really want to? Still, if you
want your business to end up dead in the water, here are some
simple ways to do it.
Lie about an item: Say it works fine when it sometimes doesn't work.
Say it's in perfect condition when it has a scratch. Your customers
will hate you!
Post whenever you feel like it: Make sure to leave your customers
hanging around, wondering when their item is going to turn up. This
makes sure they buy from someone else next time.
Let items end anytime: Few people will be around to care about your
auction if it ends in the middle of the night. Why go to the trouble
of working out whether auctions will end at a good time?
Don't bother with email: Customers are just timewasters anyway. EBay
businesses are supposed to run themselves! Never give informed
responses to questions about your item.
Sell rubbish: Really, it's just eBay. You can just sell any old tat
from the market for a 200% profit. Let quality be someone else's
concern - I mean, really, what do they expect for that price?
Refuse to give discounts: You know what your items cost, you know
what your profit margin is going to be, and you're not going to
negotiate. Remember that giving customers special deals might make
them feel good and come back to you again.
Make your listings ugly: As many colors, flashing lights and
animations as possible will really give those customers a headache.
Write as much in CAPITALS!!!! as you can. Preferably big, red
capitals. Be sure to use the fonts Impact and Comic Sans. For an
extra special touch, see if you can figure out a way to add some
music.
Don't take photos: It's such trouble, after all. If buyers are picky
enough to actually want to see items before they bid on them, then
screw 'em, that's what I say.
Write short descriptions: Be as brief as possible, and use lots of
mysterious abbreviations. This obviously makes you look very cool.
You can even just write the title again in the description box.
Think of the effort you'll save!
Use reserve auctions: Now, this is a fairly controversial final
choice, but it really is one of the best ways to scare away your
customers. They'll see 'reserve not yet met', and click that 'back'
button before you know it. Luckily, they can always bid in a normal
auction for the item somewhere else.
Now that you know the ten ways to kill your eBay business, how about
we explore what to do if you want to do the opposite, and make a
success of it? The next email will give you ten steps to successful
selling on eBay.
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10 Steps to
Successful Selling on eBay.
So you want to be a successful seller with your own eBay
business, do you? Here's a simple, ten-step path to eBay
enlightenment.
Step 1:
Identify your market. Take a while to sit and watch for what sells
and what doesn't out of the items you're interested in. Any market
research data you can collect will be very useful to you later on.
You'll probably see the 'sweet spots' quite quickly - those one or
two items that always seem to sell for a good price.
Step 2:
Watch the competition. Before you invest any money, see what the
other sellers in your category are up to, and what their strategies
are. Pay special attention to any flaws their auctions might have,
because this is where you can move in and beat them at their own
game.
Step 3:
Find a product: Get hold of a supplier for whatever it is you want
to sell, and see what the best rates you can get are - don't be
afraid to ring round quite a few to get the best deal. If the eBay
prices you've seen are higher than the supplier's, then you're set.
Step 4:
Start small: Don't throw thousands at your idea straight away - get
started slowly, see what works and what doesn't, and learn as you
go. Remember that it's very cheap to try out even the craziest ideas
on eBay, and who knows, they might just work!
Step 5:
Test and repeat. Keep trying different strategies until you find
something that works, and then don't be ashamed to keep doing it,
again and again. The chances are that you've just found a good
niche.
Step 6:
Work out a business plan: A business plan doesn't need to be
anything formal, just a few pages that outline the market
opportunity you've spotted, your strategy, strengths and weaknesses
of the plan and a brief budget. This is more for you than it is for
anyone else.
Step 7:
Invest and expand: This is the time to throw money at the problem.
Buy inventory, and start spending more time on your business. Set a
goal 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 should really register yourself as a business. Don't
worry, it's not expensive or hard 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
again and again in emails or item descriptions. This is the time to
give up on the manual method and turn to automated software that can
create listings for you, and respond to completed auctions and
payments with whatever message you provide.
Step 10:
Never give up: Even when it looks like it's all going wrong, don't
stop trying until you succeed. If you keep working at it then you'll
almost always find that you make a real breakthrough just when
things are starting to look desperate.
Once you get into the swing of things, you might start thinking that
you should quit your job and take up eBay selling part time. But
it's not always as easy as that - there are all sorts of factors
that you need to consider. The next email will weigh up the case for
and against taking up eBay full-time.
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EBay - Part Time
or Full? How to Decide.
Going full-time as an eBay seller is living the dream: making a
real income, working from home, being your own boss and all the
rest of it. It's the promise of a million scams, and it's
finally come true - at least for some.
What they don't tell you in the success stories, though, is that
becoming a full-time eBay seller is by no means for everyone. You
really, really ought to try it part-time before you even consider
taking it up full-time, and even then, caution is advisable. Before
you burn your suit, here's a list of questions you should ask
yourself.
How Much Do I Earn From eBay Now?
Work out how many hours a week you spend doing eBay-related things
(be honest here), and divide it by the average amount of profit you
make in a week. If you were doing full-time hours, would you earn as
much as you earn now?
Do I Have a Good Job?
Think about what you might lose if you give up your job to focus on
eBay. If you're in a well-paid job with good promotion prospects
then it's well worth reconsidering: you might get a few years down
the line and wish you'd stayed in your traditional job, as you'd
probably be the CEO by now.
Would I Really Make Much More Money?
Unless you're selling a large quantity of small goods, 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 whether
you would make more money on eBay really depends on what kinds of
items you're selling - for low value items, going full-time could be
a good move. For high-value ones, the chances are you'll hit the
limits of how much money you have to invest in inventory long before
you hit the limits on your time.
Is my Home a Good Place to Work?
Quite apart from anything else, you might find that the dream of
home working is more of a nightmare in reality. People can start to
depend on you to get things done that need to be done during the
day. If you have a wife and children then they can resent the fact
that you're in the house but refuse to have anything to do with them
for large parts of the day. Giving in to any of these things and
stopping work for a while will cause your profits to fall.
Can I Survive if it All Goes Wrong?
In the end, would you be able to get by if you had a month or two
where you sold literally nothing? Or would you be desperately
looking around for a job and cursing the day you ever discovered
eBay? That's the real test.
If you made it through all these questions, then I guess you're cut
out for the eBay life - and even if you didn't, you'd be surprised
just how far you can get part-time. In our next email, we'll show
you how to think like the eBay elite: the Power Sellers.
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