Recently I received a hand written letter from a frustrated subscriber who is trying to find a product to sell on eBay that will create an income that would replace the income from the job that this person was made redundant from. I have changed the name of this person to ‘Bob’ for the sake of this post and to protect the individuals privacy.
Here’s the letter..
I was wondering if you could please help me. I have signed up on your mini course about best selling items on eBay. I have turned my attention to try and make a living out of selling products on eBay as I have been made redundant and finding a job is so difficult. So I was wondering if you could help me to find a product to sell on eBay.
Firstly I want to congratulate Bob for being made redundant! This may sound a little unusual but being made redundant is often the spark needed to fire a successful entrepreneurial business of your own. Its hard for some to take those first steps to start a business instead of working for others because of the risk factor and doubts of ability to succeed. The challenge, IF you chose to accept is..
To create your own ‘mini-business’ that can sustain you financially while you build on that to give rise to a business that will generate wealth and freedom for your future on semi-autopilot. You will need an initial investment to buy your first products to sell on eBay. If you don’t have a little cash to invest you can always raise some money selling old items you have around the house you no longer need or use. If you are new to eBay this will also give you vital hands on experience to selling on eBay.
My first experience with eBay was selling my old items I had around the house and I was hooked when I raised over 4000 pounds from old stuff I no longer used that I regarded as things that no longer had any value to me. That is exactly how my eBay business began.
In the letter, Bob asks if I can help him to find a single product to sell on eBay and this is the correct way to begin your own successful business once you have a small amount of cash you can invest. First you need just one product that actually sells and generates a profit to make money. The product will be one that can be resold as a buy it now product that you can order a quantity of and resell on the same multiple buy it now listing over and over again.
It’s totally feasible to expect to sell at least one product repetitively each day. Say your product generates 15usd profit after your costs. 15usd x 30 days = 450usd profit per month. This is a minimal amount to sustain you however, before you can have 2 products that sell on eBay and actually make money, you need one product.
Once you have that first product up and running it’s much easier to find your second product and third and so on. The profit you make soon ads up as you add more and more profitable products to your portfolio. Imagine having 10 products that all generate profits and sell at least one per day and make on average 15usd profit each. Now your upto 4500usd profit per month on semi autopilot!
Simply growing your inventory one product at a time with profitable items soon amounts up to profits much larger than you could ever expect.
But first you must find that first product. When I get asked about profitable products to sell on eBay the first thing I do is recommend the mini course tutorial videos. Using the research methods and wholesale procurement methods in these videos will direct you to find your first profitable product. If you are testing the market with more than one product and only one of those three products actually turn a profit, ditch the two losers and keep the winner.
Order your first batch of the product that made the profit and only concentrate on selling that one product until you have created the best eBay listing you can possibly create for that single product. Then go onto finding another product using the same methods.
When You Reach The Highway, Take Your Foot Off The Brake..
If you are actually at the point where you have at least one or two products generating a profit on eBay you are ready to take your business to the next level. I always recommend focusing your efforts on selling just one or two products purchased at wholesale prices to begin your eBay business and to gain essential experience and accumulate knowledge. When you reach that point you are ready to take your foot off the brake and take your business into the fast lane.
This is when your business really takes off and your profits begin to multiply.