To build wealth by selling things on eBay,
you are not ‘reinventing the wheel’.
Let’s keep in mind, that eBay has been around since the nineties, and
today with eBay, you are quite literally competing in one of the world’s most
competitive markets. Let’s get back to the basics.
A)
Customer satisfaction! Ebay users
are able to rate their transaction- experience with you. This is called
‘feedback’. You are granted one point for a positive feedback, no points for
neutral feedback, and a point is subtracted for a negative experience. Keep in
mind that not only the seller can receive feedback, but the buyer can as well.
Both parties can also leave a short comment. Make sure you are a straight
shooter! Imagine going to a financial
planner and seeing a sign on the door saying “This person is a crook”.
B)
When selling anything in the
world, you can fall victim to the seasons. Ebay is no different. Like most
businesses there can be times of the year when things are slow. You must
prepare for this. Just because you made a killing during the holiday season,
doesn’t mean you will have those sales all year. You would be smart to accept
that the summer is dead. The holiday cash-flow must be budgeted accordingly, to
get you through the season. Manage your money properly to build wealth on eBay.
Don’t let yourself be left out in the cold, this summer.
C)
Let’s not forget one of life’s
certainties, TAXES. The IRS and many of the world’s tax agencies will track
your sales and if you become an Ebay super-star by reaching certain sales
numbers, your data will automatically be reported. Keep your affairs in order
and remember to set a bit aside for the ‘tax man’ and keep the “tax factor” in
mind when pricing products and services.
The quality of your pictures and detailed
descriptions are a must. Combine all of these points with determination,
discipline, and creativity, and you too may be able to build wealth using eBay.
Posted on behalf of Adam Ginsberg by the Adam Ginsberg Team
Adam Ginsberg
would love to work with you on getting you
started with your business on the web. So, drop him a line or check out his
website for his eBay tools and
resources. You could also read his book, “101
secrets of an Auction Millionaire” for some inspiration.