eBay
Top 10 Tips for Selling on eBay
This article is written by SaleHoo.com © All Rights Reserved
- Start Small
If you’re anything like me, once you have a good idea you want to put it into action immediately! Although you probably know in theory that any business takes 12-18 months to become established, somehow you still hope that you can get there in 2!
But, one mistake entrepreneurs consistently make is to throw their life’s savings into buying case loads of stock – before they even know how eBay works. It’s easy to be lulled into a false sense of security on eBay after buying just one or two items. For buyers, eBay is meant to be user friendly. For sellers, things are a little more complicated. All powersellers agree that there are new things to be learned all the time and you’ll be surprised at how much more you know after several months selling small, inexpensive items.
Be prepared to spend the first couple of months buying and selling a variety of inexpensive items you can purchase with your loose change. Keep track of what sells best and work on narrowing down the possibilities to a few strong products. By this stage you will also have experienced the best and worst situations eBay has to offer, so you will be much better prepared to crank things up a notch.
- Respond to questions as quickly as possible
Most people use the Internet because it provides what they need instantaneously: information, contacts, gifts, advice, and so on. Therefore I can’t emphasize enough the importance of checking your emails as often as you can and replying to queries as quickly as possible.
The Pros and Cons of Dropshipping
Written by SaleHoo.com © All Rights Reserved
What is dropshipping?
Drop shipping is when the product distributor takes care of all the shipping for you. Rather than ordering stock in bulk, the stock remains with the distributor. Then, when you make a sale, you send an email to the distributor and they pack up the item and send it straight to the customer with your company label on the box.
Drop shipping is a very popular option with sellers because it takes a lot of the grunt work out of selling on eBay. However, there are some major downsides to drop shipping – especially for new sellers.
Here’s a list of the pros and cons of drop shipping so that you can make the right decision for your business.
Drop shipping Pros
- No storage room required
You don’t have to fill up your living room with stock and packing materials! This is particularly useful if you are selling large items such as kit-sets, furniture, sporting goods, and so on.
- No shipping costs getting stock delivered from the distributor
Drop shipping means you don’t have to pay a carrier to bring stock from the distributor to your own storage area, which can mean big savings in the long term.
How Much Money You Can Make with eBay®
You might ever heard of people making thousand of dollars per month on eBay®. If you are on eBay® site, you could find quite a few PowerSellers on eBay®, meaning each PowerSeller must be making at least $1,000 per month, as that is eBay®’s requirement for becoming a PowerSeller. Silver PowerSellers make at least $3,000 each month, while Gold PowerSellers make more than $10,000, and the Platinum level is $25,000. The top ranking is Titanium PowerSeller, and to qualify you must make at least $150,000 in sales every month!
The fact that these people exist gives you could see what level of income possibilities with eBay business. Most of them never set out to even set up a business on eBay® – they simply started selling a few things, and then kept going. Some people whose full-time job is selling things on eBay®, and plenty of them have been doing it for years now. Can you imagine that? Once they have bought the stock, everything else is pretty much pure profit for these people – they do not need to pay for any business premises, staff, or anything else. There are multi-million pound businesses making less in actual profit than eBay® PowerSellers do.
Even if you don’t want to quit your job and really go for it, you can still use eBay® to make a significant second income. You can pack up orders during the week and take them down to the post office for delivery each Saturday. There are few other things you could be doing with your spare time that have anywhere near that kind of earning potential.
Being Part-time or Full-time with eBay® ?
Working from home full-time and making a decent income is the dream of everyone who starts online business including in online auction business. Being an eBay® Power Sellers and being your own boss is like living the dream. It is the promise of internet and making money online scams, and it is finally come true – at least for some people.
What they do not tell you in the success stories, though, is that becoming a full-time eBay® seller is by no means for everyone. You really ought to try it part-time before you even consider taking it up full-time, and even then, caution is advisable. Before you decide, here is a list of questions you should ask yourself.
- How Much Do I Earn From eBay® Now?
Work out how many hours a week you spend doing eBay®-related things (be honest here), and divide it by the average amount of profit you make in a week. If you were doing full-time hours, would you earn as much as you earn now?
- Do I Have a Good Job?
Think about what you might lose if you give up your job to focus on eBay®. If you are in a high-paid job with good promotion prospects then it is well worth reconsidering: you might get a few years down the line and wish you would stayed in your traditional job, as you would probably be the CEO by now.
