Of course, what we need to make a better living is to make money. There are a lot of things you can venture out along the digital world. When you are online, there is a plethora of ways to get your pocket full of money, but of course, you need to do it they way it’s meant to be. They all say it’s hard, we know that, here are some probable things to keep you on track in making money particularly in eBay.
What are the basics of selling on eBay and what does it mean to `run your business like a business?` Let’s take a look:
Set up and organize your business like a professional business –because it is. If you take shortcuts and try to operate on the cheap, you will never be taken seriously. The internet is still a scary place for some folks. Take the time to brand you business create a look and feel that your customers can relate to and one that creates a sense of confidence.
Invest in Automation early. Whether you use an online system such as Vendio, Mpire or eBay’s Selling Manager or offline software such as those made by Blackthorne, Marketbalst, or others, you want to automate from the beginning. Automation saves you time and make your operation appear and function, more professionally.
When you make some money, don’t rush out and spend it. Always reinvest in your business and keep reinvesting in your business.
Time is your most precious resource. Anything you can do to automate functions and get others to perform simple operational tasks will free you to do the management and creative tasks that will build your business.
Every listing is a reflection of you and your business. Each listing should look professional and contain keyword-rich headlines, good photos and item descriptions that are accurate, complete and that sell.
Establish sales, payment, and shipping and return policies that are both friendly and yet support your business model. Don’t be dictatorial. EBay is a community built on trust. If you trust others to do right they usually will. The percentages that don’t are quite small and you should treat it as a cost of doing business.
Build and preserve an excellent feedback reputation. Feedback is the window through which others see you. You can have great products, compelling product descriptions and super photos –but if you have a lousy feedback score, your business will suffer.
Great feedback is built by providing great customer service. Treat every customer as you would like to be treated and you will always have a high score.
Follow the rules. A lot of new sellers become frustrated by eBay’s complex listing regulations. You can’t fight city hall. EBay is like the government. Some of the rules may seem petty and unfair, but it is their platform, their business and they make the rules. EBay has been pretty good over the years of responding to member feedback. If you think a rule is stupid or unworkable, don’t push the envelop and don’t get into a fight with eBay –you will lose. Instead post your opinion on the message boards. EBay members are on the boards and they look for common threads and opinions from their members. An intelligent post will get read.
EBay is one of the most competitive marketplaces on Earth. Study and stay on top of your competition constantly –and be prepared to react to changes in the marketplace. I study my competitor’s auctions at least once a week.
Experiment, test, and innovate. Experiment with new tools and software when they become available. Test different listing and pricing strategies, new products and sales strategies. Test headlines and optional features. Innovate constantly. Always look for new ways to solve old problems.
Don’t be afraid to ask for help. There are plenty of resources for the entrepreneur amazingly the best source of help is often other eBayers. Your direct competitor may not want to help you, but there are plenty of others who will. A post on any of the eBay related forums message board will bring dozens of responses. Once you are a seller, you need all the resources you need to have your business still flowing and in good condition.