onlineplan9ja Auction Secret $4 but now is free: Best Kinds of Product to Sell in eBay:
The less cumbersome the fulfillment process the better. Anything that you can have drop-shipped is a good candidate. Information products, i.e. CD’s, software, books and e books have the best potential online - but you need to be the maker.
Profit margins are high since they are easily reproducible. Second, fulfillment costs are for you.
I must warn you: competition is fierce selling information products on eBay - you can make money doing it, but their virtue is that it’s a stepping stone away from auctions.
I strictly sold information CD’s for over a year.
As I learned about Internet publishing I began to slowly break away from online auctions. Internet auctions are a great way for you to learn the ropes of marketing and business -
Auction Secret $5: Short-Term Goals For New Sellers
If you’re new on eBay , then concentrate on these
4 EASY short-term goals:
Get experience selling some items from around your house. It’s a confidence builder and crucial experience.
Acquire some other items for resell from different sources such as family, friends, flea markets, online venues and so on. This helps you develop research skill in locating auction able products.
Obtain 50 positive feedback to get a gold star. People start to trust you and bid more. This gives you Dutch auction access. Strive to keep your feedback slate clean...
And find a niche you have a passion for. Take some time to think this one over. It’s important to make certain it’s the direction you want to go in advance...
Auction Secret $6: Getting Started Accepting Payments
High percentages of auction goers pay immediately. Convenient payment methods exist for you to exploit.
Let's focus with selling on eBay - it's the only one that matters to most folks...
Here's what you'll need to have:
• Checking/Savings Account
• PayPal Account
• Driver's License (for i.d. verify if you choose to do it)
• eBay Account
If you have this, then you can accept these essential pay types that hook right up to your bank account:
• PayPal
• eBay Bill Point
• eBay Electron ix Checks
If you have a feedback less than 10 you may want to get i.d. verified for $5. This allows you to accept popular "Buy Now" payments.
Almost ALL pay ments are paid with these methods - funds go right to your account.
You can actually have money streaming in just a few short days of your first auction, depending on auction duration.
Auction Secret $7: Merchant Accounts, Do You Need Them?
If you plan on doing business a good deal of business via a website, then the answer is yes.
Otherwise, you can get by without them.
Remember, auctions are just a really great form of getting customers, a popular venue amongst many others.
If you plan on expanding and becoming successful, you must have them, here’s why:
ƒ You can process a customer’s credit card manually.
ƒ You can take orders over the phone. The person can call in their information.
ƒ You get a huge boost in credibility. People trust you more-this results in more post auction sales.
ƒ You can process orders automatically and securely on your Website. This is the biggest reason long -term.
ƒ You can take advantage of sales that other sellers miss.That means more money for you, but...
Don’t rush out and commit to them until you see clearly that they are going to benefit you.
The more business that comes directly off of the eBay site the less you need them. The eBay auction market place is supersaturated with competitive payment services...
If you want to do business out side of eBay in the future then you should look into it.
Auction Secret $8: Profitable Pain & Painless Profits
Be mindful of what you sell in terms of the amount of sheer physical effort you have to do, unless you’re a industrious Hercules or something.
You are the embodiment of every department - executive, advertising, fulfillment, accounting, and customer support…
As a human being, if you aren’t careful, you quickly approach your limits with this if you get semi -successful with it.
Selling bulky and obtuse odds and ends for meager amounts alongside continual searching for inventory, product fulfillment, customer concerns, paperwork, etc… quickly leads to eBay burnout.
I know burnout.
Leave yourself enough space in your business to improve your process and acquire better and better things to sell.
And…
Pay close attention to the amount of profit per sale for certain items. Profit margins need to be healthy enough to justify time being spent doing the work.
If you’re selling material goods with low profit margins then prepare to work your tail off to get anywhere.
Only if you’re able to generate decent return can you expect to make a good living at selling.
Auction Secret $9: Sell Everything Approach
Do you have unbounded enthus asm and little patience? If so, auctions will suit you as they did me-when I started selling my approach was: buy everything that I could sell for a profit.
My eyes were continually peeled for a bargain.
You want to develop a good sense for finding one-
I mellowed out later on and refocuses my efforts in one direction, but it’s the perfect way for novice sellers to learn the ins-and-outs of the process.
Auction Secret $10: Focused Selling Approach
Reckoning day came - laziness set in after my initiation. Either I make thing s simpler or face disappointing career options.
Now, that I know what works, I can simplify things infinitely to the point where mundane business activities fade ever more into the background… and connect rate on not working.
I lean in favor of simplici ty and ease of vocation for less money, than complex ity and hard work for more… it used to be visa versa - and it’s a matter of taste and what’s important to you.
Focused selling means - selling a few related types of items in volume and selling them well and taking advantage of your customer base.
This is an advanced approach to making money with auctions - few sellers get to this point because they remain on the level of hobbyists.
But those who become focused do quite well for themselves.
Auction Secret $11: What Not To Sell
It’s mortal sin to sell some things online - espec ially eBay.
Remember, some items are cut out for the web - others aren’t. Here’s the situation you don’t need to get in:
Selling expens ive, weighty items, with low profit margins. Example: don’t sell 800 lb. cast iron squat racks on eBay - TV’s, heavy books and you get the idea… unless someone else does the fulfillment.
Your aim: Cheap, popular, light items with high profit margins - preferab ly a product of your own.
You’re safe selling books, CD’s, software, collectibles, ebooks, informat ion, services and the like… I’ve sold just about everything, and know - you’re approach to what you sell makes life much easier.
AuctionSecret $12: Strength of eBay
When purchas ing inventory, steer away from everyday items with low profit margins.
Exploit eBay’s main strength:
It’s a unique venue that brings products to the market that people want but cannot acquire elsewhere…
The other advantage is that:
It brings products to the market that people can buy more cheap ly than loca lly…
But unless you can find a product so urce to that will produce the results, then you need to let the first strength be a guiding principle.
AuctionSecret $13: How Much Can I Get Out Of This?
“I wonder how much this is worth… on eBay?”
Such might be the question you’ll hear going through your head in the future.
So how much can you expect to get for your item? All items have a semi -predictable “eBay value” that fluctuates within a certain price range.
Simply put, all items have a predictable cash potential. The less commonplace and valuable your item is, the more elasticity in this range…
Sentimental items like collec tibles have a tremendous range… a particular item in a collectib le auction might sell anywhere from $30 -
$300.
If you’re a good auctioneer, make fine ads, use photos and follow all the guidelines for maximiz ing your auction results - then you can expect to hit the upper range of your items “eBay value”.
An extra $1.50 profit per auction is what makes you or breaks you.
As a rule: EBay value for common everyday items is below what you would find in retail. Try to leave those items to larger merchants.
Some items have a dismal eBay value. Like computer monitors.
As you become more knowledgeable, you acquire a feel for an items
“eBay value”. This ability comes with practice and patience and it certainly pays off when it comes…
AuctionSecret $14: How To Price Your Items
When it comes to pricing your ite ms, you must walk a “fine line”…
One mistake to avoid is starting your auction too high. High price does indicate value - but it also discourages healthy bidding.
Of course this largely depends on what you sell, competit ion and how accusto med you are to the “eBay value” of your item.
One method is to price your item slightly below what you paid for it…
In general eBay is not a good place to start high since bidder wants a deal. It’s always better to start low and set nice reserve if you absolute ly must cover yourself.
Starting too high kills the spirit of the auction process. People come to the auctions to co mpete for a bargain.
You will also incur higher listing fees if you price high.
It’s a matter of confidence - when you have experience selling certain items, you can know almost for certain the a mount of profit it brings…
AuctionSecret $15: Set Your Auctions On Fire
Have you ever been on eBay and happened upon an auction that was doing incredible well?
Like a Dutch auction with over a 30 bids?
Here’s my approach for getting over 100 bids selling simple CD’s. You can adjust it according to what you sell.
I’ve done this no less than 10 times.
No comments:
Post a Comment