As with everything, there will be someone out there who will try to sell you some phony advice and eBay selling is no different. There are people out there who are making incredible amount of money, but they’re more often then not the people selling the get rich quick eBay guide eBooks.
While being a successful eBay seller is harder than these people will tell you, there are legitimate businesses that thrive using eBay as a base for their operations. You won’t be able to jump into a $40,000 a year job straight of the bat, but with work, savvy planning and determination you can make a successful eBay business.
What is the Advantage of using eBay over Starting my own eCommerce Business?
It has recently been estimated that in the UK, £7bil (almost $12bil) is spent on the internet by customers. Unlike a conventional business, an eBay buying business can sell to millions of customers worldwide. While a conventional business that sells things like books or socks might otherwise thrive, think about a company selling a niche product like 2nd century Japanese artwork. With an online store on eBay, this company can get out to a much larger client base.
Of course, taking your business online is the best move you can make, but the question becomes why use eBay? A site like this can facilitate your company and nurture it in its infancy. Its also much less work and costs much less than setting up and running your own website – with the added bonus of a reliable and trusted name that people are already drawn to. The marketing is all done for you.
How do I Use eBay for a Successful Business?
There are some simple pointers that you need to think about and take into account before you decide to start an eBay business:
- Are you selling what people want? With my example above about the Japanese artwork, the reason that business works is assuming there is a market out there for it. Do your market research before you decide on what project you’re going to sell. If the product is too niche, then you’re unlikely to turn a profit.
- How much are you going to charge? If you’ve found a successful niche, it’s unlikely you’re the first to discover it. Do some market research and look at your competitors and make sure you have your price right. Also think about how this will impact on your profit margin. You don’t want to over charge but you also don’t want to cut yourself off.
- How easy is it to deliver? The advantage an online market place over a conventional store is that customers can get the product delivered to their door. The advantage for you is that there is a postal service in place to help facilitate the transfer. You need to think about how easy it will be to ship. If you’re planning on selling 2 ton graphite elephants, forget it.
- CUSTOMER SERVICE – the last tip is the most important; you absolutely must make sure your service is impeccable. Often online customers will make a decision based on reviews by other customers. If these are bad then you might as well give up. Always strive to provide the best service – better than your competitor and better than you gave to your previous customer
With all of these tips, having a successful business means hard work and dedication. You need to be invested emotionally in your business and need to want to make it succeed. As always, we suggest you make a business plan before starting.
Check out eBay for yourself.