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Sands-o-Time Estates Antiques
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Seller name Melissa Sands Web site Sells http://stores.ebay.com/Sands-o-Time-Estates-Antiques
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Pottery, jewelry, other collectibles
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Planning for Success: Sands-o-Time
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Melissa Sands (User ID: sands-o-time) knew she wanted to leverage selling on eBay as a way of leaving the nine-to-five grind and helping to support her family. But she didn t always have a systematic plan for doing it. If your eBay business is your first business, you owe it to yourself to do something Sands eventually did and hire a business planning consultant someone who can work with you to create a detailed projection that not only spells out where you want to be, but how you re going to get there. Melissa had been accumulating collectibles at estate liquidations and selling them on eBay for several years. In order to sell collectibles in quantity,
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CHAPTER 4: Think and Act Like a Businessperson
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Melissa found herself working long hours. When she started having kids, her sales activities grew even more stressful. The business had taken over our house, with inventory all over the place. I also had to work into the evenings and on weekends. My sales had gone down because I had a baby, and it wasn t as easy to do the things I used to, she explains. Melissa also needed to find new ways to cope with increasing competition and rising fees on eBay. I deal in vintage pottery, porcelain glass, and costume jewelry. Some weeks I spend my time going to garage and estate sales; some weeks we buy whole estates. She also teaches classes on eBay in her home area, Clinton Township, Michigan. She wanted not a handwritten document, but a formal business plan: a systematic way of defining what you want your business to do and projecting your costs and income over a period of years. That way you not only determine that you are doing what you really want to do, but you define what constitutes success, and when you expect to achieve it.
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It Helps to Have a Formal Business Plan
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Like many eBay sellers who deal in antiques and collectibles, Melissa is a collector herself. As she notes on her About My Store page (http://cgi3 .ebay.com/ws/ebayISAPI.dll ViewUserPage&userid=sands-o-time), she herself collects Taylor Smith Taylor pastel dinnerware. I sell on eBay to support my LuRay habit! she jokes. She finds an eBay Store a useful venue for reaching customers: in the store, she can offer multiple items at a fixed price. Unlike eBay auction items, merchandise that s put up for sale in a store can remain up for sale for a long period of time: 30, 60, or 90 days, or even an unlimited period of time. But she felt a formal business plan was the way to take her eBay business to a new level. I am working on ramping up this year. It helps to have the business plan in the form of a book, with all of our plans and goals. We can say, this is who we are, and who we want to be; it has been a living, breathing plan, so we say this isn t working, we take this out of the plan. It gives us a spot to strive for, and if something doesn t work, we just say, We are going to take that out. Part of her plan involved a new (and, some might say, surprising) way to expand her eBay sales: she opened a brick-and-mortar store, shown in Figure 4-1.
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Secrets of the eBay Millionaires
FIGURE 4-1 This seller depends on a business plan to achieve goals and plan new strategies.
I Built Up a Huge Reference Library Anything and Everything I Could Get My Hands On
From the start, Melissa treated selling on eBay as a full-time business opportunity rather than a part-time hobby. Her professional attitude first manifested itself in a desire to be a knowledgeable seller. She made it her
CHAPTER 4: Think and Act Like a Businessperson
I Go Through the Plan Once a Week and Set Goals for Myself
My business plan took two months to create and required various meetings, says Sands. I went to a man I met in a business networking group. I talked to him about creating my operational business plan. It s not necessary to have a business plan in order to sell on eBay, and I didn t necessarily need a plan I could take to a bank to get money, but a plan on how my business was going on a day-to-day basis. I set goals and dates for things I wanted to accomplish. I go through the plan roughly once a week sometimes less, sometimes more to see if I am actually accomplishing what I set out to do, and if the plan seems doable. I go from there and set sales goals for myself. We ended up with a physical planning document, and it cost me around $4,000. I spent a lot of time and money on this plan and I think it was well worth it. What can you learn from Melissa s plan Once you identify your niche, tend to your business on an ongoing basis. Look ahead to the next month and year, and come up with goals for yourself. Then be prepared to change those goals and adjust your plan as the need arises. Don t let your sales activities take over your life. Develop a schedule and stick to it. If you are selling on eBay full time, set aside one or two days for buying merchandise, one or two days for preparing auction listings, one day for packing, and one day for shipping. You ll probably also have to devote part of every day to answering e-mail inquiries one of the most time-consuming and important parts of customer service. (See 8 for more on the importance of responding to e-mail quickly.)
mission to educate herself on antiques and collectibles of all sorts so she could learn which items to purchase for resale on eBay. With the promotional cars, I had tons of collectors e-mailing me for more information. In the process I learned all about them. I knew that if I could learn about these things and sell them and make a big profit, I could sell other things. I built up a huge reference library on anything and everything I could get my hands on. Even today, I am constantly buying new books, taking classes on antiques and collectibles, and watching any and all shows on decorative arts in order to learn more. It s easy to see how Melissa s research has paid off. As you can tell from scanning the list of items currently for sale in her eBay Store, Sandso-Time, she has anything and everything for sale, from an ivory carved miniature to a piece of rhinestone jewelry (see Figure 4-2).
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