subject: Essential Steps To Starting An Ebay Business Successfully [print this page] Starting an eBay Business is a great way to draw some extra income your way. There are a few pointers that you need to keep in mind if you are considering stepping into the world of eBay.
What Is eBay?
eBay is an online marketplace where products, new and used, are bought and sold. It is accessible to millions of people worldwide.
How to Start an eBay Business
Test Drive: It is always a good idea to test the waters for at least a month before you invest completely in any business. You can create an account, shop around, and buy to get the feel of this virtual marketplace.
Products: You can start your eBay business by selling things you own but which are of no use to you anymore and are still in good condition. So, instead of organizing a garage sale, you will be using a website. Alternatively, you can start targeting secondhand shops and buy things at good rates, which you can then resell. Once you are familiar with the process, you can start ordering new products from suppliers.
You can also start specializing in one particular category instead of selling an eclectic collection of products. Your product knowledge will be stronger when you concentrate on one category. You can plan your product inventory according to the seasons and based on the items that are fast moving.
Dont forget to go through eBays policies on what can be sold or not sold.
Money Matters: Set up a Paypal account to receive and send money. It is easy. Understand how much money you are required to invest in the business. Apart from buying goods, you must keep in mind the fees that youll have to pay eBay, Paypal, as well as charges for shipping, the Internet, phone, and electricity.
Listing Your Product: Make sure you introduce your products into the auction at a time when the traffic is highest. At least a month in the business will give you a fair idea about the times and days that are most profitable.
Decide beforehand what the least amount is that you are willing to accept for a product.
Organize: You will need to keep track of your purchases, expenditures, profits, products sold, products up for sale, and receipts. It would be a good idea for you to design folders to hold these details.
Photographs and Descriptions: Make sure a good photograph of the item accompanies the description. Most buyers like to see what they are buying. The description should not be ignored. It has to be written in detail.
Feedback: If you get good feedback and a star, it is more likely that you will attract more people.
Shipping: Learn all about shipping and couriers. This will help you pick the most affordable and reliable means of sending the sold products.
Professional: After learning the ropes, you can consider setting up your own website and eBay shop to stand over the crowd of competitors.
These tips for selling on eBay are just the first step. Take action, and with experience, you can easily build a successful and lucrative business out of it.
by: Jane M Dawson
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