Ebay: Is It Still A Good Place To Start A Business?

Elana Centor — Thu, 27 Mar 2008 19:36:06 -0500

Can I just say I heart eBay? As someone who does not like traditional shopping --that would be shopping in malls, discount malls, department stores and boutiques, I am an enthusaistic eBay shopper and a very occasional eBay seller. I just checked my profile and I have been a member since February 9, 1999.

While my love affair has not diminished, that is not the case for some eBay sellers. eBay,it seems, is going through a rough batch. Sellers recently launched a one-week boycott because of new feedback policies and a change in fees. New listings reportedly dropped 17 % JennyHow.com has a YouTube video that explains the seller's grievances.

Even so, eBay has been a wonderful place for people looking for part time work or a way to have a virtual business.

One of eBay's earliest entrepreneurs is Janieruth. She has been an ebayer for 10 years. Recently, Lisa Di Clemente conducted an indepth interview where Janieruth offers up advice on how to succeed in the eBay nation.

I attribute my success on eBay to several things. Most of my friends say that I have “the eye”. That is antique speak for being able to spot a real bargain or obscure item. I attribute that to study, study and more study. I think that antique guide books are my favorite reading. I own dozens of these books and love to browse the new titles at the book stores around town. I never sell an item that I haven’t researched.

I also run a completed item search on eBay for items like the ones I am thinking of listing. That is the best way to determine what key words to put in the title and also to see what worked and didn’t work for other sellers. I have learned over the years that a good title is the most important element of an eBay listing.

The last thing that I want to mention is perseverance, keeping on keeping on even when my items are not selling. This is one thing that I love about having a store. If my item doesn’t sell the second time I list it, I raise the price and stick it into my store inventory. It can sit there for 30 days at a time for only a few pennies a month. eBay is like any business in a brick and mortar store. There are slow times and high times. You have to learn in retail to stick it out and ride out the slow times. I study, listen to webinars and podcasts and network with other sellers, the OSI Rock Stars group is the backbone of my education. I am always striving to improve my customer service and my business overall.

There are literally thousands of blogs dedicated to helping people who want to start their business on eBay . Unlike Janieruth who was able to learn on the job, today's eBay entrepreneurs need to go to school and do tons of research before they open their doors.

Eri La Socio-Political Blog offers some tips on how to fast track to becoming an eBay Powerseller.

Drop shipping is a great way to make money if you have a good source. With a good drop shipping source you can have access to most items and reasonable costs in some cases at or below wholesale costs. Drop shippers will often be transparent that is they will ship the product off their shelf with your label and address. The product is shipped as if it was shipped from your own company. With people making money online you can get in on having your own online business or retail store and by using a drop shipping service make it look like you have a warehouse stocked full of wholesale products.|Drop shipping is becoming more popular because there are people making money online. People have asked can I make money on eBay drop shipping. Well it is possible and with the right products and sources and a little research you can make a profit on anything. You just have to have a product that is in demand but has relatively few sources available. If you look at an auction site and completed auctions and most auctions are ending with sold items then you have found a product that is worth further research and you may want to see if you can find a drop shipping supplier or source. You may have even discovered a niche and that being the case can
usually be a lucrative product to sell online.

The Wholesale Match Blog has a feature with10 top eBay Success stories that has YouTube videos and tips on how to duplicate their success. Number four on the list is Amy Mayer and Ellen Navarrow

Amy and Ellen approached making money off of eBay from a fresh perspective, choosing to start their online store as a depot for consignment of individuals and high-end retailers. They sell the unsold or slightly used expensive clothing of their customers, who drop it off on location to their storefront. They then sell the items on eBay for a profit that both they and their clients benefit from. With over 1.4 million dollars in sales, these girls continue growing their business by offering eBay selling classes, and by franchising out their business plan. They operate under the eBay account expressdropchicago.

Then there is the OSI Rock Stars-- the new startup by Janelle Elms who has taught over 70,000 people and businesses about building and succeeding in eBay. Her new eBay community promises to help you take your online business to the next level.With the provocative statement "99% of All eBay Stores are Set Up wrong --Join the 1% Club, OSI Rock Stars offers people a 10 minute back stage pass where they tell you "Like all Rock Stars you have to pay your dues." The dues are $49.00 a month. (Evidently this is a sale price)

Given eBay's recent business challenges there are other online auction sites who are taking this opportunity to reach out to entrepreneurs who may want to align with a different auction house. In addition to Amazon, many designers are moving over to Etsy. A Boutique Buyers blog has a sample of the designers who have Etsy stores.The Storque offers weekly Etsy Success Stories that offers in depth interviews with the entrepreneurs who are achieving success in the online world.

How much money can you make ? Obviously some people are making millions. But a bit of a reality check : some statistics say that nearly 60% of the items listed, never get sold.

Elana write about business culture at FunnyBusiness

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Ebay: Is It Still A Good Place To Start A Business?