Far too many people rush to
open an eBay account, fall over themselves to make their first
sale, and in all the panic and confusion they suddenly realise
they’re losing money fast! So they give up selling on eBay, and
return to working for someone else! Very sad, especially
when just a few simple steps are all that stand between failing on
eBay and growing an income limited only by time and effort put
into the business. Why fail, why not succeed beyond your wildest
dreams, why not follow these few simple steps to guarantee your
success on eBay?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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These are three things you must
do before you even open your eBay account:
* DECIDE WHAT TO SELL
You must have some definite product or service in mind, or you’ll
be running round in circles, forever chasing new ideas and getting
nowhere fast.
Counter this common problem as soon as you sign up at eBay by
spending at least two or three days looking at what other people
are selling, especially sellers with triple or quadruple or more
monthly feedback and high profit margins.
Go to eBay’s Pulse pages, check out the biggest shop owners in
each of the main and sub-category product sections featured top of
the page. Make a list of products that interest you, check out
local wholesalers or dropshippers, obtain just one or two samples
of specific products to test market and assess profitability
before buying in bulk.
* GROW A SECOND SKIN, A TOUGH SECOND SKIN
Don’t get me wrong, I’m a great devotee of eBay, I’ve been selling
there for several years, but even after forty years in business
I’ve encountered problems that left me shocked and confused,
sometimes downright miserable. It’s sad to say the customer is not
always right on eBay and although most customers are very genuine,
there’s a tiny minority who exist purely to upset other people.
These people leave negative feedback for any reason or even no
reason at all, and they can be extremely hurtful to first time
entrepreneurs.
Like many people I think eBay’s one-sided feedback system is
seriously flawed and I can’t quite work out why sellers can only
leave positive feedback or no feedback at all even for people
whose payment has bounced or who insist they haven’t received your
product even though you have their signature on the delivery form.
No one doubts that customers online can be much nastier than
people you meet face-to-face in high street premises.
That’s because the Internet is largely anonymous and people who’d
never create a scene in a high street shop can be extremely
obnoxious in emails and feedback postings.
As the saying goes, ‘If you can’t stand the heat, stay out of the
kitchen’, and you must apply this principle to customer
communications on eBay and elsewhere online.
* BE UP FRONT AND PROFESSIONAL RIGHT FROM DAY ONE
The most successful sellers are those who take their
responsibilities very seriously, towards other sellers, towards
customers, and especially to government and financial authorities.
Most sellers are kind and considerate, honest and reliable, and
only rarely are serious problems encountered on eBay.
However, way too many people take chances when it comes to
handling matters like income tax and trading standards, these
being the two most likely areas to land you in a whole heap of
trouble and send your eBay business plummeting.
In short, you MUST determine your legal and financial obligations,
well in advance of selling on eBay, and you must take steps to
ensure you never fall foul of local, national and international
trading rules and regulations.
That does not mean you need an accountant right from day one but
you do have to tell the income tax authorities you are running a
business within a specific period of time. That specific period
varies between countries and you can learn more by visiting
national income tax authority web sites. Find them by keying
‘income tax xxx’ into Google, where ‘xxx’ represents the country
you live and work in.
You should also study eBay’s help pages to determine eBay’s own
seller rules as well as local, national and international rules
and regulations concerning sales made on eBay.
Last, but not least, contact your local town hall for advice about
local and non-local trading laws.
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