!!! Top 10 Things You Need !!!
To Be Successful on eBay
- Consistent, repeatable income requires applying proven retail strategies to your business
- Success is a combination of factors, that when woven together result in a solid business model
- Scheduling these 10 strategies for success into your week is key to your business’ growth and development
- Action produces results. Every action you take has a direct impact on your success and your income
“Treat your business like a business, and it will pay you like a business. Treat your business like a hobby and it will cost you like a hobby!”
1. The #1 misconception about selling on eBay and why it will hinder your
“eBay Business” or retail business?
Build a retail business first
eBay is a venue that you use to sell on
Without taking this approach you will not recognize the importance of
employing true retail principals
2. Get Legal
Get your business license
Don’t try and contact suppliers without it
Have your paperwork in hand
If you have not yet taken this step, don’t delay, do it today
Make the commitment to your business
3. Planning and Goal Setting
Have an overall vision for your business
Write it down! This simple act can increase your chances of
success by 70%.
Sellers who don’t have a vision have a difficult time with product
sourcing and marketing decisions
Break your vision into short term goals
Track short term goals – measure your results
Revise long term goals regularly
Are you an entrepreneur or a technician?
Is performing daily the daily operations of your business getting in the
way of planning your growth and scaling your business
Ask yourself – what have I done to expand my business today?
Schedule time on your calendar for these actions
4. Establish a Presence
If you look like an established business, customers and suppliers will
treat you as such
Don’t cut corners on your branding
• Business cards
• Package insertion flyers
• Listing templates
No free email addresses
Fax cover sheets with logo
Letterhead with logo
5. Building Your Product Line
Thought and research must go into every product you select
Brick and mortar retail buyers look at hundreds of products to select
It is up to you to find out what your buyers want
• Trade publications
• Trade shows
• Trend reports
• Talk to your buyers
If everyone else is selling “it”, you need to either have a different
supplier, different version or a different approach
Use a Product Sourcing Notebook™
• Product Sourcing Mindset™
• Idea Hotspots™
6. Niche Selling for Success
Carve out a slice of a larger market
Sell to a specific group of buyers who are looking for your product
Ability to become and expert in your product line and dominate the
7. eBay Store
A necessity to compete in today’s marketplace
Traveling salesman or established merchant?
Must be fully optimized and utilized for maximum exposure
8. It Pays to Advertise
A customer is a customer, it doesn’t matter how you get them
A wide variety of advertising is required to establish a customer base and
let people know about your eBay store
o Search engine presence
o Auctions that direct buyers to your eBay store
o Targeted discussion group participation
o eBay’s email marketing
o Business cards
o Promotional flyers
o Local advertising
9. Customer Service – Your Competitive Advantage
Customer service DOES matter and can make the sale
Tell your customers how good your service is
What do your buyers want? Express shipping? Special packaging?
Ask your customers how you are doing and they will reward you with more
10. Financial Tracking & Inventory Planning
What is your product profit margin?
What is your overall profit margin?
Need to know the financial status of your business for adjustments and
Start an Inventory Planning Notebook™
Assemble your sales data as well as research data and competitor
Base future inventory purchasing decisions and sales and advertising
strategies on this data
□ Remember, you are building a retail businesses on the eBay platform
□ Get Legal. Is all your paperwork in order?
□ Plan your goals and work your plan. Write your plans and goals down
on paper. Review and revise regularly.
□ Establish a professional business presence
□ Schedule time daily to build your product line
□ Develop a niche
□ Build your eBay store
□ Advertise online and off
□ Provide Gold Level Customer Service
□ Track Financial Results. Plan future inventory purchases on these results.