Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
When It Comes To eBay, Don?t Follow The Herd > NetSparsh - Viral Content you Love & Share

When It Comes To eBay, Don?t Follow The Herd

Q: I want to start an online business. Since I don't know anything about ecommerce and building websites and such, I'm thinking about starting out selling products on eBay, then pay someone to build a website for me once the money starts coming in. The big question is: what is the hot product to sell on eBay to make money fast? -- Bob D.

A: While it's true that selling products on eBay can be a quick, low cost way to launch an online business, following the herd by selling the "hot product" of the moment, is not a great idea. To the contrary, chances are you will be stomped in the ground by the herd and left lying in the dust with your unsold inventory in hand.

We talked about starting a profitable eBay business in a previous column and the advice I dispensed then still applies today.

The most successful eBay sellers are those who understand that success on eBay relies on many of the same factors as success in a brick and mortar business.

· Smart sellers research the marketplace and the competition to determine the salability and profitability of the product.

· Smart sellers test the market with one or two before committing to a product line and tying up their cash reserves in inventory that may never sell.

· Smart sellers adjust their product offerings until they find a product or product line that sells consistently.

The last point is perhaps the most important. Long term eBay success does not come from "one off" sales. The key to real eBay success is to find a product that sells well and sell that product over and over and over again.

I asked Timothy Mina, author of the new book, The Online Auction Expert's Bible To Selling on eBay, his thoughts on launching a successful eBay business.

Why is eBay so attractive to entrepreneurs?

"With an eBay business, you set your own hours and set your own goals," Mina said. "You can work as much or as little as you want and whenever you want. Many sellers supplement their income by selling on eBay and many others have turned it into a full time business."

Mina cites the following reasons for eBay's growing popularity among entrepreneurs who want to start an online business:

· You can start up quickly and don't need special skills.

· There is very little risk and investment required to get started.

· The marketplace is huge. There are millions of potential customers waiting to buy what you're selling, 24 hours a day, with the click of a button.

· No stress, no boss. Yes, there is work involved, but the work can be done at your own pace. You are your own boss and you set your own schedule.

· Most importantly, you can follow your passion and do something you love. If you sell something you enjoy selling, online auctions aren't just profitable, they're fun and exciting, too.

Why It's Critical To Find Your Niche?

Mina recommends creating your eBay business with niche items. According to Mina, the benefits of targeting a specific niche market include:

· If you are going to rely on eBay as your primary source of income, it is essential that you find your niche. If the goal of your eBay business is to earn enough money in your spare time to make your car payment every month, it is less important, but still highly recommended.

· If you find a profitable niche, you will become a certified guru of the items you sell you will ideally be the only one on eBay offering the products.

· Your expertise will make it ten times as easy to spot bargains when you're shopping for products to resell. Bargains might be all around you, but if you don't know anything about what you're selling, you won't know how to spot bargains that are right in front of you.

· You will find different ways to add personal value to your products. These low cost add-ons or unique twists to your products will drastically increase your sales and profits by making your items unique and desirable.

· You will have little or no competition from other sellers, so you can corner your niche market.

· By dealing with the same type of customer over a long period of time you will get to intimately understand the mindset of your target customer and what your customer wants. This will help you sell your products better and allow you to market your products in ways others haven't thought of.

· You will be knowledgeable and enthusiastic about what you sell, and you will be attentive to your customer's desires. This results in satisfied customers, name recognition, and a lot of repeat business.

· You're going to find something you're passionate about and specialize in it. If you love what you're doing, you have a much greater chance of sticking to it and loving it. So it won't even feel like work ? it'll be like you're getting paid to play.

How do you find your niche?

So how do you find your niche? Mina recommends doing an inventory of your hobbies and interests to help you identify a niche you would enjoy working in.

Ask yourself:

· What are you passionate about?

· What do you collect?

· What do you like to read about?

· What do you do in your spare time?

· So you have a favorite pastime?

· What was your major in college?

· What jobs have you had?

· Are there any other fields in which you have a great amount of knowledge?

· What clubs do you belong to?

Mina also recommends that you spend time on eBay studying the category listings. This may give you additional ideas for hobbies you can turn into an eBay business. Once you have defined your hobbies or interests, brainstorm how you can turn them into a business.

· How can you turn your expertise into a product?

· How can you add value to current products related to your interest?

· What product can you sell that may be one of a kind and have little or no competition?

· Can you think of novel ideas that people who share your passion would love?

· Is there anything related to your hobby that you can create yourself? An ebook or a how to, perhaps?

Small Business Q&A is written by veteran entrepreneur and syndicated columnist, Tim Knox. Tim's latest books include "Small Business Success Secrets" and "The 30 Day Blueprint For Success!" Related Links: http://www.smallbusinessqa.com http://www.dropshipwholesale.net

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

New York Times

How Tastes Have Changed: 'Imps and Mods' Stutter at London Auctions
New York Times
LONDON — It's a commonplace of the art market that Impressionist and modern art is not the force it once was. Thirty years ago, it was the most expensive in the world, with paintings by Gauguin, Monet, Renoir and Van Gogh achieving eight-figure prices ...

and more »

Autoblog (blog)

This yellow Camaro and other weird/wonderful cars at Mecum Auctions Portland
Autoblog (blog)
Mecum Auctions is stopping into Portland, Ore., this weekend (June 22-23), and before I stop by to check out the lots, I figured I'd do some Internet shopping before hand to see what sort weird and wonderful four-wheeled treasures will be on hand ...
600 classic cars on auction block at Mecum's Portland showOregonLive.com

all 2 news articles »

KSAT San Antonio

Elvis Presley's abandoned private jet is up for auction
KSAT San Antonio
Last time the Lockheed Jetstar came to auction, GWS Auctions claimed that the once-luxury interior -- all red-velvet seats, shagpile carpeting, wood paneling with gold-plated accents -- was made to the specifications of the King himself. However, Roy ...
Elvis Presley's private jet is up for auction | CNN Travel - CNN.comCNN

all 18 news articles »

Mansion Global

Lavish Los Angeles Passion Project to Hit Auction Block
Mansion Global
The famously lavish estate that imports tycoon John Z. Blazevich spent 17 years completing—and which features five subterranean floors of amenity space—in the guard-gated Los Angeles city of Rolling Hills will head to auction next month without reserve.


Blue Mountain Eagle

Foreclosure auctions considered a success
Blue Mountain Eagle
Grant County earned about $168,000 from an open auction held May 17 to sell tax-foreclosed properties and about $155,000 on a silent auction with bids opening June 15 for the remaining properties. Thirty-one tax-foreclosed properties were deeded to the ...


AgriCensus

Buyers sit out as Russian fund auctions 2700 mt feed barley
AgriCensus
Buyers largely sat out Friday's latest round of selling as Russia's state intervention fund sold just 2,700 mt of barley at auction, data from the Moscow Exchange showed Friday. Only one of eight lots put up for sale was bought from stores in Volgograd ...


SPOTLIGHT ON TOPEKA: Livestock auction is a 'staple in the community'
Goshen News
TOPEKA — When Amanda Rhoades was a young girl, her dad often took her to the Topeka Livestock Auction. When her dad, Larry Bechtold, attended the auction to buy cattle, Rhoades joined him to get “spoiled” when he bought her pop and candy, she ...


ECM Publishers

Antique & Consignment Auction
ECM Publishers
July 1 • 11:00 AM. 6774 Hwy 25 NE, Foley, MN. Antiques & collectibles, furniture, household, autos. This is a partial listing. View more at www.midwestauctions.com/sharer · Facebook · Twitter · Email; Print; Save. Load comments. × ...


City Pages

Revere Auctions provides a new -- and surprisingly affordable -- marketplace for art collectors
City Pages
If an art auction sounds out of your league, think again. At an Asian art auction, several purchased Japanese woodblock prints for around $250. That price isn't reflective of the quality of the art; it's just that the market value for such art is low ...


MyHighPlains

BLM Announces Auction And Sale Of Federally Owned Helium For 2019 Delivery
MyHighPlains
The Bureau of Land Management's Federal Helium Program is planning an auction and sale of federally owned crude helium for delivery beginning in fiscal year 2019. The auction is scheduled for July 18, 2018. After the auction, the BLM will invite the ...

Google News

Online Auctions Business

Online auction sites are a great way to find a... Read More

Used Cars For Sale On EBay

There are thousands of used cars for sale on eBay... Read More

eBay Listing Service : Make Managing Your Auctions Easy

Do you want to have a lot of auctions going... Read More

Buying At Auction: 6 Hints to Make You a Successful Bidder

Buying at auction, be it for stamps or coins, antiques... Read More

Five Tested Ways To Find The Perfect Drop Shipper

You've heard about it many times in recent months. Being... Read More

eBay The Mega Marketplace For Everyone

eBay is one of the world's largest market places with... Read More

eBay - Getting More Bids Using An Auction Preview

If you sell in small niches as I recommend and... Read More

Finding Antiques And Collectibles To Sell On eBay

Many people who decide to make a living selling collectibles... Read More

8 Collectible Dolls That Sell Well on eBay

From the beginning, eBay's primary growth came from the collectibles... Read More

How To Write a Traffic Pulling eBay Auction Title

Selling an item on eBay should be simple but it... Read More

How To Cut Your eBay Fees By More Than 90%

Now, are you ready for the REAL TRUTH about selling... Read More

Low Cost, High Profit Dream Products To Sell on eBay and Amazon

Finding quality products to sell is the key to continuing... Read More

Royal Memorabilia ?Smart Trading and Fake Dodging

This is my second article about trading royal memorabilia on... Read More

Save on EBay Fees with Free Image Hosting

Experienced sellers at online auction sites such as EBay will... Read More

Police Auctions & Government Auctions Professional Resource Information

Police Auctions Information:No, a police auction is not where you... Read More

How to Generate Extra Cash in an Instant

With so many out of work, laid off or staying... Read More

Can You Really Make Money Selling New Release CDs & DVDs On eBay?

Being an active eBayer, I am often being asked about... Read More

From Ebay Zero to Power-Selling Hero: The Devil Is In The Details

If you've ever heard the expression "the devil is in... Read More

Five Ways To Detect Shill Bidders On eBay So That You Dont Pay Absurd Prices

There is as a lot of buzz about shill bidders... Read More

Traditional Marketing Techniques for eBay Auction Ads

Ya know, I sort of giggle when I look at... Read More

How Do You Find A Reliable Dropshipping Source?

A Dropshipper is someone who will anonymously send the goods... Read More

The Benefits of Buying and Selling Locally

Shop at a flea market in Oaxaca, Mexico. Trade with... Read More

An Emerging Market in eBay Consignments: The eBay Trading Post (Part II In A Series)

In 2002, the eBay consignments business was born, referred to... Read More

12 Tips To Make Your eBay Business More Profitable

Sometimes it's the simple things that can make your eBay... Read More

How To Sell On Ebay: The Money Is In The Back-End

Many people who sell on Ebay completely neglect the follow-up... Read More