July 3, 2008
Tip # 1: Identify your eBay market. Come up with a list of items you are interested in and then take a look at eBay to see what’s selling and what’s not. The market research data you collect will be very useful to you later on. Analyze the market and you’ll start to see those items that always seem to sell for a good price.
Tip # 2: Check out your competition. Before investing money, take a look at what the other sellers in your category are up to. Dig in to get an idea about what their strategies are. Make a special note on anything their auctions are missing, because addressing these flaws in your own auctions is a powerful way to move in and beat them at their own game.
Tip # 3: Find a product: If you’re looking to sell the same item over and over again then get hold of a supplier for what it is you want to sell, and see what the best rates you can get are. Also, shop around to get the best deal. Every penny counts. If the eBay prices you’ve seen are higher than the supplier’s then you just might have a winner.
Tip 4: Start small: Don’t start out by throwing tons of money at your idea. Start slowly and see what works and what doesn’t; learn as you go. Remember that it doesn’t cost a lot to try out even the craziest ideas on eBay, and who knows, they might just work! Thinking outside the box is a good way to become successful.
Tip 5: Test and repeat. Keep trying different strategies on eBay until you find something that works. Then just keep doing that very same thing over and over again. The chances are that you’ve just found a good niche or a good way to sell.
Tip 6: Create your business plan: A business plan, even on eBay, is a good thing to have. It doesn’t need to be anything formal, just a few pages that outline your market opportunity, your strategy, the strengths and weaknesses of the plan and a brief budget. A business plan is more for you than it is for anyone else. If you treat your selling on eBay as a business and not like a hobby then this will push you toward success.
Tip 7: Invest and expand: Now is the time to pump money into your eBay business. Get your hands on more product and start spending more time on your business. Set a goal for the number of sales you want each week and increase it over time as you meet your goals.
Tip 8: Make it official: Once you’ve made some money from your eBay sales, you should seriously consider registering yourself as an “official” business. It’s not that expensive or hard to do and registering will go a long way toward credibility. A lawyer is the best person to help you through the process, but you can also get information online or in forums.
Tip 9: Automate: There are a lot of tasks you will find yourself doing over and over, like writing the same emails or auction item descriptions. This is the time to move some of this manual work over to automated software. You can also consider outsourcing these tasks to other people. You can automate a TON of your eBay business tasks.
Tip 10: Never give up: Even when times get bad and you think things won’t work out, don’t stop trying. Push forward until you succeed. If you keep working at it you’ll almost always find you will make a real breakthrough. Countless people give up on their eBay business right before they get their breakthrough. Don’t be one of them.
Clint Herman is a successful eBay seller with over 6 years experience in the industry. He also loves helping people start selling on eBay. He is the author of “How to Get Started Selling on eBay,” which is a beginner’s guide to selling on eBay designed for people who are new to selling on eBay. The guide is available at http://www.beginnersauctionguide.com