Monthly Archives: January 2011
Getting started selling on eBay is a great idea for any number of reasons. If you are interested in ecommerce, then I think eBay could be the perfect starting place for you because not only is their virtually no risk to you, but you can also get a feel for business and make a little (or a lot) of spare change on the side. However, before you dive in, there are a few things know before you go.
Getting started selling on eBay is a great idea for any number of reasons. If you are interested in ecommerce, then I think eBay could be the perfect starting place for you because not only is their virtually no risk to you, but you can also get a feel for business and make a little (or a lot) of spare change on the side. However, before you dive in, there are a few things know before you go.
The first step is to decide what it is you want to sell. EBay is great for selling almost any product, but if you are going into business, it is normally considered standard practice to confine your selling to a particular niche; not that you can’t expand from their or switch niches entirely later on. Remember, you can always experiment and change your products around, but as mentioned before, at some point you will want to focus on a particular niche. The advantage is that buyers will associate you with the products you sell and return to your auctions if they’ve had a good eBay experience with you. Remember, trust and loyalty can be everything.
When determining what to sell, the standard advice is to sell what you know. However, I would take that with a grain of salt. That can be one approach, but really, that can be easier said than done. But what if you can’t? Another entry point that works for many is to start with an interest or to start with something you would like to be interested in. Even if you start out not knowing very much about your products, if you are interested, the people who attend your auctions will pick that up from the descriptions you write, and that will help your auctions sell.
One thing I need to mention is that although being stuck for ideas of what to sell is not a big deal, in my opinion you have to at least be willing to be interested and if not, eBay may not be right for you. For inspiration, you can make a list of the kinds of things you like, visit stores and websites, and talk to friends and family. If you are having trouble coming up with ideas, don’t worry; as I mentioned a moment ago, in the beginning it is enough to be interested, and that’s why my standard advice at this point is just to sell other peoples’ stuff–sell their junk. Don’t worry about it not selling–anything will sell on eBay, and in the beginning it does not really matter if you make a profit or not–you probably will, and I think you will be surprised at how well you do with what you had thought was just junk. The point of doing this is that after doing a few auctions the whole process will begin to make more sense, and you will be able to think more clearly about what you want to sell; and who knows, you may decide to stick with “junk,” and you wouldn’t be the only one to make a fortune doing so.
When you get to the point of thinking about business and profit, you will, of course, want to consider products that have a reasonable chance of selling consistently well. I would advise not worrying about mass market consumer items, such as electronics. EBay is the world’s largest flea market and as such, there is a market for nearly everything. If you find a line of obscure items that you think could generate profit, give them a try as there is sure to be a niche interest on eBay.
If you pursue eBay and find that it does product income for you, I want to mention that for United States residents that also means you must report your earnings on your state and Federal tax returns; that won’t be something you have to deal with right away but something to be aware of just the same. If you think that you are going to sell on a regular basis, then it would probably be a good idea to get a sales tax permit. If you sell to residents of your own state, then you will need to add sales tax and later remit that to your state department of treasury. This is not complicated, and you can find out more information from your department of revenue.
Please remember to not let the bad days get you down; everybody on eBay has their ups and downs. Everyone has them. Unfortunately, no one’s auctions make a profit every time, and as a business person, you will learn how to predict losses as well as financial wins. Not giving up is the real key to success on eBay as it is with any business. Anyone with determination can make a living on eBay, and there is hardly anything that can’t be sold. It would be unrealistic to say that eBay is right for everyone or that everyone who tries will succeed, but what is true is that it is a very practical way to test the waters of business with practically no start up cost and risk to you. The next step is up to you–time to put up an auction!
Take action and start finding products to sell on eBay. Learn more about how to sell on eBay today!
Popularity: 2% [?]
