Most of us have heard of eBay. Some of us have even bought or sold something on eBay. But how do you make real money on eBay consistently?
Think of eBay as your personal shop,or showcase for a better word, where you can either showcase your range of products, or be known for a niche product. There is a world full of people out there willing to buy, but the secret is finding a ‘sought after’ product that is not available just anywhere. There are collectors of certain products which were made only before a certain time, when things were of quality instead of quantity and they will pay good money for this. They search eBay to see what they can find, and if you are selling, they will buy. There is plenty of money to be made as a Power Seller. Power Seller is the status to achieve to be a top earner on eBay. Tip: look and research at what collectors would be looking for. Keep your eyes open to what the “baby boomers” would want. Baby boomers are the generation born in the approximate 1960's or earlier. They are settled in life and many have the funds to be able to collect items of value and are willing to pay for it.
Sales per day on eBay reach into the thousands, and goods change hands for lots of money making Power Sellers a nice income. Plenty of people who do not want the stress and overheads plus the problems of having to deal with stock, admin and staff that a real shop entails have found eBay to be the ideal manageable one man business which is easy to manage and also brings in a good profit. Tip: Ebay boasts millions and millions of traffic per week – why not tap into that? Do it right and you will be a Power Seller sooner than you think.
The important factor here is to realize that this is not an overnight get rich scheme. It will take a bit of work to set up your eBay shop/showcase. This is essential to realize, because if you rush in without doing the homework, your business will not grow and the first setback will see you fold and try another ‘overnight’ get rich plan.
It is free to sign up for an account on eBay. Decide what you want to sell. Tip: Sell something that you take personal pride in and means something to you. Perhaps you paint unusual pictures, or restore furniture - anything that you take pride in. Try one of these items to see if it takes off. Only you can be the judge of what sells. Tip: look through eBay, find the ‘bestsellers’ and emulate their selling points with your special product. eBay also can give you lots of help in this. So make use of all available tools on eBay, such as their advanced search feature to be prepared. Don’t forget to use Google to search for items of interest and suppliers too.
Don't stop trying for fear of failure.
Once you have decided on a ‘good’ seller, such as antique clocks for instance, you would need to know where to get more stock from.
You would either use a wholesaler, who would expect you to buy up front, and you have no guarantee that your stock will sell, plus do you have the room to store it?
Or you could use a Drop shipper. What is a drop shipper? Drop shippers charge a fee to join, which if you are a serious seller and do not want to store stock, then this should be no problem for you for the service they give. They will only expect you to pay for the item when you have received the money from your customer. Check this out on eBay.com
And lastly, the customer is always right, even when they are wrong. Honor you word, then you will receive good feedback scores which will bring you more customers which helps you business grow. NB: Make sure your supplier can keep up the supply of stock if you only buy from one supplier. Give yourself at least 3 months to test a product. Rather sell lots of a smaller profit items faster than 1 of an expensive item every two months. You will find your stride, granted with a few hiccups, but learn from them, and enjoy your business.