There has never been a better time to start your own business on eBay. Visitors flock to eBay to pickup bargains and find good deals but that doesn’t mean the sellers are being short changed. On the contrary, using eBay for business doesn’t require any investment in overheads to open a physical shop and hire employees. eBay sellers are cashing in on the current economy selling products cheaper than high street retailers and by also selling products that cannot be found anywhere in any shops.
Please don’t think that just because you start an eBay business you are limited to an eBay business model. Usually starting a business on eBay leads to other profitable online ventures as you gain more experience from selling online. eBay is simply a marketplace with established visitors and I like to think of it as a marketing platform.
You can learn so much about online marketing from starting a successful eBay business. It only takes a couple of products that sell well on eBay to usually get you hooked, and from there you can simply keep adding more and more products to your portfolio. I’m not saying that every item you sell on eBay is going to be an immediate success but you simply drop the losers and keep the winners. And keep adding more and more products.
So heres how to create an eBay business plan in 5 minutes.
1) Browse the eBay categories and find one that you are interested in learning more about OR chose one that you are already familiar with the kind of products are selling in that category. Try to stay away from electronics since those categories are usually hyper-competitive and not for the faint hearted.
2) Use the techniques in the free eBay tutorial videos to quickly find 3 products that are currently selling well on eBay and find a wholesale price for those items, again using the free eBay tutorial videos.
3) Buy those 3 products from the existing sellers on eBay. Doing this allows you to do 3 things. They are to check out the quality of the products and allows you to write a better eBay item description about the products. It also gives you insider information on the eBay competition you are going to be up against. For example you will find out how quickly the others sellers ship the products to their customers, how they are packaged, if they use any after sales marketing or up selling to other websites and finally how good their customer service is. Finding out this information arms you with the knowledge to position yourself as a real competitor in your chosen eBay category.
As soon as you have a couple of products which you can say you make money selling on eBay it’s time to seperate the men from the boys and impliment your real eBay business strategy selling your own private label products in your chosen niche.
Related eBay Business Resources
- Working at Home with eBay Basics (wealthyways4you.com)