Is there a Model for Success?
I quite often have people contacting me and
asking if there is a specific model that they can follow to
make a success of their Ebay business. There are examples
of successes all over the Ebay network and although most of
these are operating in the USA we are now starting to hear
of UK success stories. I know one lady who is earning over
£30,000 based in Walsall who is making in excess of
£30,000 a year selling modern collectibles from home.
There is also another who has a turnover of over £100,000
selling designer clothes and shoes. Both dealing in entirely
different product areas but achieving excellent results.
The old adage “Jack of all trades,
master of none” can be very applicable to Ebay. It is
far better to concentrate on one specialist area than try
to sell everything. Ideally this should be an area that you
are interests you and one you would enjoy being involved in.
If you can establish yourself as a known expert in your particular
field customers will be far happier buying from you than others
and will also be prepared to pay more for the privilege. For
instance if you are thinking of selling antiques through eBay
it would be far better to specialise in say 18th century porcelain
figures than to try and cover, furniture, painting, ceramics
and every thing else.
Another great advantage in specialising,
whether it be in Star War Figures, pop memorabilia or what
have you is that you can build up a list of customers who
having bought one item from you are more than likely to be
interested in similar items that you have for sale. These
you can offer them without having to go through eBay or pay
listing fees or commission.
So the first stage in building your model
is to select an area to specialise in.
Ebay is full of people who see selling on
Ebay as little more than a hobby, and that is fine. But if
you want to build yourself a serious business than you have
to be professional from day one. That means keeping records,
responding to all communications, dispatching sold and paid
for items promptly and well packaged.
Simple things like putting a small printed label with your
name and address on the package so that if for any reason
the post office cannot deliver the item they will return it
to you. So treat your business as a business and not as a
hobby.
Stay current. Any market place changes, the
better you understand the market you are selling in the easier
it will be for you to adapt and change as necessary. Put some
time aside each week to browse around the market and see what
is selling and what is not. Often this gives you a chance
to spot an opportunity before others. For instance I am told
by people who know about these things that the Ninja Turtles
are due to make a comeback this Christmas. Is this going to
be an opportunity for someone?
And finally never stop testing. Test your
titles, listings, and auction length and finish days and times.
Experts can tell you what they think will work but you need
to find out what will work for you. No one will ever get 100%
sales from their auctions but that should not stop you trying
to achieve it.
So to summarise
Specialise
Be professional
Keep current
Test, test and test again.
And finally just keep at it, it can be slow starting but
you will find as your knowledge and expertise increase so
will your sales. Nobody is born a power seller.