==== ==== How YOU can work from home by selling on eBay! HERES HOW: CLICK ON THE LINK: http://bit.ly/zilZzH ==== ====
Many people think that eBay is a virtual garage sales. But it's really not. It's a business, even though many people are viewing it as a hobby. Yes, it is true that in the beginning the majority of sellers on eBay were just people who sold their own private stuff that they didn't want to use anymore. But eBay has really evolved since then. Today it is a multibillion-dollar business. There are many sellers on eBay who started up with next to nothing and are now millionaires. But there are even more who started with next to nothing and still have next to nothing. So what is the difference between these two groups of people? The difference is that one group of people, the ones who are successful, treat eBay the way you treat a real business - because that is what it is. The other group of people, the ones who still have next to nothing, is treating eBay like a hobby - and hobbies don't make money. And when it comes to running a business, one man I like to turn to for advice is Warren Buffett. He once said: "I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over." Now what does that mean for your eBay business? It means that you have to do you market research before you decide what products you want to sell. So many people make the mistake that when they just start on eBay they sell flatscreen TVs, or laptops, or iPhones. That's like trying to jump over a 7-foot bar. It's very difficult to enter these markets on eBay, because they're highly competitive. And there are plenty of sellers in this category who are really buying wholesale - and I'm talking hundreds of thousands of dollars. And there is no way you can compete through drop shippers with those kinds of powersellers. And you probably can't risk hundreds of thousands of dollars to import a couple of thousand laptops from Taiwan. So what do you do instead? You look for that 1-foot bar that you can step over. You want to find the product on eBay that has a small but passionate group of buyers. You want to find a niche that allows you to enter the market, without stepping on the toes of the big eBay powersellers. You find a product that is a little bit too obscure, where there is very little competition, but high demand. Another thing that Warren Buffett once said is: "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do
things differently." And this is really all about the way you treat your customers on eBay. With eBay's feedback system, there is no way you can be successful if you don't treat your customers very good. And that means that you treat even the occasional crazy customer very good. Because there are a lot of crazy customers on eBay. Believe me, I had my fair share of them. These are buyers completely unreasonable, and some are even outright liars. Always remain friendly and professional and give refunds. You want to build a good reputation, and every negative feedback you get is in the way of achieving that. And now the final lesson of Warren Buffett that I want to share with you today: "Wide diversification is only required when investors do not understand what they are doing." And this is also not just true for the stock market. As an eBay seller you want to specialize. You don't want to sell all kinds of stuff. You want to cater to one market only. Be the scrap booking supplies girl, the fishing supplies guy, leather wallet lady or the motorcycle tire guy. But don't be all things to all people. If you want to sell to several markets, do it with different eBay accounts. EBay actually allows you to own several eBay accounts. But my suggestion is find one market and specialize in that. This way you will know the trends, you will know the lingo, you will know what people like and what they don't like and you can build a long-term reputation.
I hope you found this article insightful and entertaining. Warren Buffett is one of the most brilliant businessman of our times. And his advise is not just valuable for financial investors, but for every man and woman in business. For more tips on starting and growing your own eBay business visit the AuctionInformer.com website: http://www.auctioninformer.com/blog You'll find success secrets of the powersellers, eBay auction tricks and sound business advice for your own home-based ebay business. For example, do you know how to attract more visitors to your auction without paying an extra cent in eBay listing fees (it's about the ebay auction title)? But the AuctionInformer.com is really not just about reading some eBay tips. It's about helping you to make a real income with eBay, and that is why you can ask questions, and either I or a member of my team will answer your questions personally. So I really hope to see you there on your first step to eBay success.
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==== ==== How YOU can work from home by selling on eBay! HERES HOW: CLICK ON THE LINK: http://bit.ly/zilZzH ==== ====