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The Ebay Revolution - A Beginners Guide
by: Adrian Ryder
With E bay being one of the most searched for terms on the internet
today,[ approx 24 million people last month], it is hardly suprising
that more and more everyday people are turning away from the 9-5 job
scene, and looking at the income opportunities that this hugely popular
forum has to offer.
So just what are the benefits of starting your own E bay business,
as opposed to the more traditional self employment options, such as
buying a business, or becoming a franchisee?
Well the first and most obvious benefit is the financial one, you can
start an E bay business on a shoestring, whereas buying a franchise
or setting up on your own will in all probability cost you 10s of thousands
of dollars.
Secondly, the element of risk is fairly negligible with an E bay business
[ as long as you don’t invest hugely in stock before you have
properly researched the market]
Thirdly you can start up in your spare time, without having to “give
up your day job”. This allows you to test the water, and see if
you actually enjoy running your own business, before you actually take
the plunge.For many people Ebay is simply a profitable and fun sideline
or hobby, and that’s fine, but you need to make the choice if
it’s a hobby you want or a business.If you make the decision that
its to be a business,then you need to keep professional records, pay
tax etc.
Another beauty of running an online business is that you can do your
business activities when it suits you.You can organise your auctions
at 2 am if you so choose, and people will still be looking at what you
have to offer!
A final benefit,[ and this list is by no means exhaustive ] is that
unlike a traditional business, your marketplace is unlimited, you can
sell your product anywhere in the world, you have a potential marketplace
of millions upon millions of buyers
The most common question for many people is “ how do I get started
?”. The first step if you haven’t already done it, is to
get on Ebay and have a look around. Ebay itself offers great informative
resources and tours for the uninitiated. Have a look at some auctions
in progress, see how people list and display their products, bid for
something you would like [you have to join first, but Ebay makes this
a very user friendly process] Have a look round your home for unwanted
items, run some auctions of your own, its fun, and you’ve nothing
to loose but your junk. This is a great way of dipping your toes in
the auction pond.
So, after having done this you decide that you would like to get serious
about building an E bay business, what should you do first? Here is
a shortlist of some basic first steps.
1. Choose your product- Everything from baseball cards to luxury homes
is for sale on Ebay.Research possible product choices by looking at
what your competition is doing.If you have a particular area of expertise,
or a passion which others share, choose your product accordingly. TIP-
A great research tool is available at www.overture.com. Its called the
keyword selector tool, and it enables you to check how many times a
certain word or phrase has been searched for on the internet in the
previous month ie rolex watch. If few people have been looking for what
you want to sell, chances are it will be a non starter on Ebay.[ at
the time of writing this tool can be used by anyone free of charge,
though this may well change] On the other hand if your product is frequently
searched for, you may be onto a winner.
2. Don’t sell poor quality products.There is nothing more disappointing
than receiving a purchase only to find it is inferior quality junk.
Ebay has an excellent feedback system, which it uses to rate traders.This
feedback is available to both buyers and sellers, so if you get negative
feedback, this can seriously jeopardise your Ebay reputation permanently
3. Start small. Unless you are utterly confident in your product, and
in a very secure position financially, start things off on a small scale,
and increase your spending only as your results justify this.
4. Test, Test, Test- Try different products and combinations of products
to see what works best, and always use photos,as many people buy what
they see not what they read.
5. Commit from the start to offering exceptional service. Treat others
as you would like to be treated, and you will soon get a reputation
as a trader to be trusted, and from whom you can buy with confidence.
6. Don’t always try to make a large profit. Many of the powersellers
on Ebay make small but consistent profits,and run a lot of auctions!
Always ensure that you cover shipping costs, and any costs incurred
in running your auction.
7. Many of E bays top sellers sell other peoples products which they
neither stock or in most cases even see, through a process called ‘dropshipping’.
A dropshipper is a wholesaler, who also takes care of all the product
shipping details on your behalf.There are many dropship companies who
tailor their services around the Ebay auction scene, and who can provide
you with quality products, at very competitive prices shipped directly
to your buyers [ if you plan to be in Ebay for the long haul, it is
well worth giving this option serious consideration, as you really need
to have a steady reliable source of cheap quality products.
Copyright 2005 Adrian Ryder
About The Author
Adrian Ryder is a University Honours graduate, internet entrepreneur
and researcher. For some detailed E bay success resources, dropshipping
& wholesale directories, and work at home opportunities, check out
his affiliate site at http://www2268.dropshipwholesale.net.
Adrian regrets that due to time constraints he is unable to enter into
personal discussion/queries regarding his article.
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