With over 150 million registered users in the US alone and nearly 100 million overseas,eBay is fast becoming THE number one place to be for anyone intending not only to buy and sell some used goods from their basement, but to do serious profitable business.
Ebay processes about $1000 of sales every second but with listing fees, final value fees and numerous other ebay charges here and there, how does one make profit? There are hundreds of people making losses on eBay and still thousands more just breaking even after the cost of item and all other charges have been taken into consideration. But is that the aim of most sellers?
If you don't want to be an "eBay average Joe", then it's necessay to learn the secrets of the Power Platinum Sellers - in other words the eBay millionaires.
So how do they do it? I'll let you in on two of the secrets here:
#1. Sourcing cheap products
This is the number one factor influencing whether you'll make profit or not. Most people go on ebay to
buy cheaply at best half or less the prevalent retailing price of the item in question. As such if the goods you sell are anything close to the retailing price then you are likely to make a loss.
The problem associated with sourcing cheaply is twofold: for those wanting to buy in bulk, there are many people purporting to be wholesalers when they are not. Thus sourcing from such companies keeps your costs high. The other problem is with many middlemen posing as dropshippers and pricing goods quite high and even charging per item dropshipped.
So where the do the eBay millionaires get their goods from? Well, one well kept secret is this eBay certified database of dropshippers and wholesalers(hush, hush see below) Here you're guaranteed to locate a bona-fide supplier / wholesaler or dropshipper for almost any goods you're interested in
#2. Organization
To be an eBay millionaire, it's important to be very well organized. In fact, I can't over-emphasize this enough. Whatever can be automated - for instance leaving postive feedback - should be automated so you can concentrate on growing the business.
Where most people go wrong is when they buy all sorts of third-party software to do this too early on in the game. Unless you're making over 500K plus, eBay itself can cater for all your needs as they provide numerous cheap or even free software and services to cover most
sellers needs. If you start buying to many software early on, your costs will simply mount.
It's best to refrain, however tempting it is and see your business grow before further investing in software.
For more millionaire secrets such as how to enter a new product category and dominate it,how to sell 20%- 40% more products with one easy trick, how to earn money even if your visitors don't buy from you, tartgeting the internet's biggest market, have an endless supply of items delivered to your door, how to protect yourself from scams, monitor your competition
to stay one step ahead of the rest, how to drive traffic from eBay to your website, how to get 75% off your eBay Store items' final value fees and more |
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