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Prick up your ears, put the
kettle on, take a seat, make it a safe seat, because what you read
today will leave you jumping with joy! That’s because I’m
going to show you how to make a few hundred pounds extra each week
on eBay, or maybe a few thousand, even if you’re a total newcomer,
and you really can’t fail if you stick to one basic rule ……
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
…… follow the numbers!
That’s because eBay is a simple numbers game,
where the more items you list, the more you realistically ask for
your products, the more research you do, and the harder you work at
your eBay business – ultimately the more money you will make!
It sounds simple, and it is simple, yet strangely
very few people play the numbers game ….. maybe because they don’t
know the rules – yet!
Thankfully, I do know the rules, I’ve played the
numbers game for years, and from today you will be playing it too.
First of all, let me tell you how I personally
got hooked on the numbers game, about ten years ago, when a friend
told me the story of a group of young men whose boss asked if they
preferred a pay rise of one thousand pounds a month (actually it was
dollars, but it works the same for ££££s); or would they prefer a
one time lump sum, beginning an extra penny on day one, followed by
two pennies on day two, four pennies on the third day, and doubling
up over 30 days. All but one employee chose the £1,000 a month
instant pay rise! The young man who chose the ‘penny’ was made
branch manager at a much higher salary than his less enlightened
colleagues.
That because he realised that one penny, doubling over 30 days, adds
up to a staggering TEN MILLION POUNDS plus!
It goes like this: 1p …. 2p …4p
…8p ….. oh go and work it out for yourself, you won’t be convinced
until you do, and you do it by hitting number one on your calculator
then multiply it by two, double it again, and again, until you’ve
hit the multiplication button followed by the ‘2’ button a total of
thirty times! Yes it really is ten million pounds plus!
Okay, you’re right, you probably won’t make ten
millions pounds in a couple of weeks by doubling your number of
listings, by working twice as long each day, it just doesn’t happen
like that.
But consider, for example, someone who makes an
average five pounds profit per item on eBay, as I usually do with
vintage postcards, then consider that person lists twice as many
products, and chooses products more likely to make £10 unit profit
than a mere fiver.
Already a person selling 100 items a week at £5
pure profit (£500 total) is set to sell 200 items at £10 apiece, and
he’s quadrupled his weekly income in two easy steps. That’s
£2,000 a week simply from working twice as long and choosing
slighter more profitable products. (By the way, I sometimes
more than double my money, and you can do the same …. such as a
postcard I listed last week that cost 20p at a flea market and
fetched £155 on eBay!)
Now imagine our eBayer doubles their efforts by
getting other people to help list their products on eBay, assume
they double bidding figures on every listing, how much higher might
his or her earnings be then?
Now imagine instead of just a handful of ways to
double their income, they find ten, twenty, thirty easy ways …. how
much might that add to their weekly takings?
In my experience the numbers game always works,
there are many ways to double your income on eBay, my own favourites
being:
* Double your working hours. If you
normally work one hour a day on eBay, make it two hours from now on.
Find that extra time by watching less television, or by getting out
of bed an hour earlier.
* Get other family members involved in your
eBay business. Even young children can scan products for you,
and it doesn’t take a great brain to pack and take orders to the
post office while you double your listings on eBay.
* Where you normally buy 100 products each
week to resell on eBay, buy 200 instead. Where you normally
visit one flea market, or one wholesaler, or one auction each week,
make it two. From personal experience, I visit at least one
flea market every week looking for low cost collectibles, such as
postcards and small silver items, books and collectable toys.
My challenge is to pick up 100 items at no more than £2 each and I
aim to get at least £4 pure profit from each item and usually a
great deal more. So I’d double my earnings by choosing 200
items at £2 each, sometimes by sourcing 100 items that cost more but
will almost certainly fetch higher finishing prices than my normal
£2 buys.
* Double your normal auction starting price.
So for postcards I might otherwise start at £4.99, I’ll choose £9.99
instead, and from experience I know I’ll sell at least half at £9.99
or more. Items that go unsold will be marked down the
following week. Yes it takes longer to make the money, and it
takes twice the effort! But it almost always works!
* Double your takings from every customer
by sending regular stock updates, by including new product offers in
outgoing packages.
* Spend at least one hour every week
checking past auctions on eBay, make a list of current high profit
products, focus on buying those items during the next few weeks.
But play carefully here, and don’t risk huge sums of money on
potentially short term fads. Additionally, choose products
attracting at least three bidders in past auctions, which leaves at
least two people likely to bid on similar items in future.
It’s not a good idea to buy products similar to those just two
people have bid up to the hilt. That’s because once the first
product sells, just one potential bidder remains for a similar
product, which could spell disaster for you.
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