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Secrets of the eBay Millionaires
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Customer service builds confidence in you as a businessperson. You also have to convince your customers that you re a good match that whatever they are looking for, you have it. Sometimes, shoppers just won t make a substantial commitment of money unless someone provides personal guidance and advice. If you answer questions quickly and courteously (even if you receive dozens of questions in a single day), you re that much more likely to make a purchase than if you wait a day or two to respond or if you fail to respond at all because you re too busy with other duties. You can find out more about Marjie Smith, who is also the president of the Disabled Users Online Association, in 8.
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Setting Out to Corner the Market: Blueberry Boutique
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When you first sign a contract to purchase wholesale goods from a supplier to resell on eBay, it s tempting to buy a minimal selection. After all, your funds are probably limited, and you don t want to go immediately into debt. Most PowerSellers would probably take a different approach: They would set out to corner the market to become the number one seller in a particular category. Those who attain their goal proclaim themselves the leading seller in their niche, which gives them more credibility. Blueberry Boutique posts its notice eBay s #1 shirt and necktie seller notice with each of its sales descriptions (see Figure 1-8).
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Being Flexible and Ready to Change: mrmodern
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One of the great things about doing business online is the ability to stop on a dime and take a totally new direction without incurring excessive overhead costs. For Don Colclough and Lisa Polito (User ID: mrmodern), one change came about when they started to sell in volume on eBay and realized they were finding more customers online than they ever could in their brick-and-mortar antique store. They closed the store, rented a warehouse where they could store the merchandise they gathered from estate and house sales around Chicago, and became PowerSellers. Other changes are less dramatic: PowerSellers change product lines, find new suppliers, open new stores, and generally focus their business in new directions as the market changes. That s one important feature about a business plan: It isn t written in stone, and can be changed to fit changing situations.
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CHAPTER 1: From Penniless to PowerSeller: Carving Out a Niche
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FIGURE 1-8 The most successful eBay sellers gain the coveted #1 designation.
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Look around the world in an effort to reach more customers than your competition. Studies indicate that eBay is growing more quickly in Europe and Asia than in the United States or Western Europe, which have been the most popular locations. If you can open your sales to overseas customers, you can do an end-run around the competition and reach more customers.
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Don t try to sell everything at once; focus on a business niche and market to a well-defined set of customers. Don t let adversity get you down; turn failures into opportunities and build your business slowly. Expect to work long hours at the outset, but also expect to hire employees or contract with a service provider to help you build your sales volume.
Secrets of the eBay Millionaires
Find a competitive edge something you can do that sets you apart from the competition. Strive to outdo the competition by charging lower prices or offering better variety. Draw up a business plan that identifies the products you want to sell, how you want to sell them, and how soon you expect to be successful. Build on an activity or type of product you know well when trying to identify what you want to sell on eBay. Do everything you can to retain customers and encourage them to return to you in the future. Locate a source of merchandise you can resupply easily and all year round.
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