eBay is still the #1 online auction site. Tens of thousands of dollars exchange hands everyday on eBay. If you are not making money through eBay, you are missing out on a billion dollar pie! Having said that, does it mean that if I join eBay & find some products to sell, I will surely make money?
If that’s the case, there will be many millionaires out there.
Selling products on eBay can be fun IF you are making money. Just in any other businesses, choosing the WRONG things to sell on eBay will cost you dearly. In order to create profits on eBay, you need to know the HOW and the WHAT, and not the WHY. Like many sellers on eBay, I didn’t make any real money. Sure I did earn, but the profits that I earned in my first year wasn’t even worth mentioning here. Here is the secret: in order to profit on eBay, you need to find a product that is in HIGH demand with the least competition.
Many sellers jump into a hot product thinking that it will definitely sell like hotcakes. Sure it does. However, don’t forget that many more people are selling the same thing to the same market! How much can you possibly earn? It is just a matter of time you give up.
Here are some quick fixes that will help save you money in the long run.
1. Research. Find out more about the product that you are selling. Do a quick search on eBay and see how many sellers are offering the same product. If the competition is too stiff, find another product to sell. Keep repeating until you are happy with the competition level. Don’t jump in blindly and fight with the big boys. You will lose out.
2. Provide excellent customer service. If your current customers are happy with your service, they WILL come back and buy from you again. And be sure to ask for feedback. If you receive negative feedback, find out what really went wrong and what your customers are unhappy about. Don’t ever argue or show aloofness as this will only reflect badly on you.
3. Learn all you can about shipping. If you ship internationally, you need to know the various postage costs to the different countries. You need to pay particular attention to the different shipping companies as well. Use a shipping company that is reliable and that delivers right to the dot.
4. Learn from the Powersellers. The top 25 eBay affiliates each earn over $100,000 a month! If there is anyone that you have to take advice from, he/she will be the expert sellers on eBay! If you wish to learn everything by yourself, it will probably take you a couple of years before you can get things right. You could have given up by then and of course, more broke than ever.