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5 Easy Steps To Start a Successful eBay Business

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5 Easy Steps To Start a Successful eBay Business

If you are a newbie to making money on eBay, here are some quick and easy steps to kickstart your eBay empire. You can make a real living on eBay, so let’s get going!

1. Have a business plan. Just like in any other business, you need a gameplan to fight your battle. Here are some details that you should include in your business plan.

a) What to sell on eBay
b) where to find the products to sell
c) how and where to market your products – offline or online? Who is your target audience?
d) how to deal with customers – dealing with positive and negative feedback, how to get repeat sales.
e) shipping details – postage rates to different countries if you intend to ship internationally.
f) money management – how much cashflow do you have to buy products, advertise, etc.
g) time management – how much time can you spend each day building your eBay business.

This might sound tedious, but it’s all part of building a business. If you want to succeed, you have to do it good and proper.

2. Research on your products and your competition. Find out how popular your product is, and how many people are selling the same product. If there is too much competition, you might want to consider selling something else.

3. Finding the products to sell. You need to know where to get the products to sell. If you have old junk that you do not want, you can consider selling them away. However, if you intend to make it big, you need a good resource to find cheap yet reliable suppliers.

4. Market your products. You can choose to advertise online or offline. Here are some suggestions. Google each of them to find suitable advertising grounds.

Online:

a) traffic exchanges
b) safelists
c) leads generation sites
d) article marketing
e) paid-to-click or paid-to-read programs
f) social bookmarking sites
g) social networking sites

Offline:

a) flyers
b) newspapers (I have not tried this before though)
c) word-of-mouth – tell your friends and family and ask them to help you spread the word.

5. Re-invest your earnings. If your customers are happy with you, they will come back for more. Buy in more products and try to expand your business. If you are doing really well, you should spend more time and tune up your advertising budget. Employ some people if need be.

Once you think you are doing well, you might want to sell on eBay full-time. We do know that there are many people who have successfully made it on eBay. Given the right guidance, you will be on your way to be the next Powerseller!

George is the owner of AskGeorgeYeo.com, a Q-&-A-based information portal. Learn to sell like a Powerseller!. Feel free to drop by and post questions or add a link back to your own site.

Article from articlesbase.com



How to Make Money On eBay and Be Successful

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How to Make Money On eBay and Be Successful

I’m an eBay powerseller and I thought I would share some good information on how to make money on eBay and help you dominate the eBay market.

The first thing that I must emphasize before you attempt to make money on eBay is STOP looking for products to sell and start looking for a market to dominate. This is what newcomers don’t do and some eBay sellers still don’t do to this day. I can’t tell you how many times I’ve looked at a store where they are selling everything in different niches, it does not work. The first thing you need to do to start a successful eBay business which is ignored by 90% of eBay sellers (that’s probably why they don’t make a great deal of money) is to choose a market first, learn about that market and then dominate that market.

A lot of sellers don’t do this they just throw any product in the store which they think they can make a profit on. If you build your store around a market first such as hair and beauty and put lots of different products in around that niche, you will find more buyers will add you to their favourite sellers list and may sign up to your newsletter. Customers will keep coming back to your store because they know where to find the products they want, this is how you make continuous money on eBay. This will also keep you a head of your competitors and you’ll keep getting returning customers, don’t ignore this fact because you will always be scratching around for the next big product to try to make a profit on.

Look at the high street stores, Toys R Us are dominating children’s toys, Ann Summers are dominating Sex Toys, I could list thousands of other companies that dominate individual industries. Now look at the bits and bobs stores on the high street… Wait a minute, you do not get them that often on the high street, they are always in the back street. Why? Because they are not targeting a niche and not making much of a profit, that’s why they are in the back street and not on the high street.

Find a niche that you have a bit of knowledge about, it’s not essential but it helps, find different products in that niche, write an ebook with lots of information on the subject and sell it and promote the products in your store through the eBook or even give it away with every product, this is a great way to make sales. This is how you dominate the market and not end up like the bits and bobs stores that get a bit of profit.

For more information on growing a successful eBay business visit Make Money Tutorials

I’ve been running several successful businesses online for seven years and counting which include eBay, buying and selling domain names, affiliate marketing and more. Now I want to share my knowledge with you for free, your more than welcome to visit my website.

Article from articlesbase.com