For every success story on Ebay, there are likely thousands of sellers who have given up after only a few auctions. But the truth about selling on Ebay is no different than any business online or offline. It takes time, and just as importantly the knowledge to succeed.
I have an Aunt who is one of these people that are successful at just about anything she sets her mind to. She joined Mary Kay and is the only person that I have ever known who actually made money at it ( sorry in advance to any Mary Kay reps out there ). Her most recent venture is the queen of crafts, where she makes a 100k a year selling stuffed animals and Christmas decorations at Craft shows - where most people barely make enough to cover their costs.
I asked her one night sitting around a campfire about why she was always so successful at what she does and she answered with fast clarity - because I always find out everything there is to know about a business before I get into it.
That wise piece of advice holds well for selling on Ebay as it does for any business venture. Although I am the type to jump head first and then figure out my direction, I never the less can see the importance of understanding the process is a direct key to success.
In my first few attempts over the years here on Ebay, I never made a dime and didn't pay much attention to selling here. Last year though with increasing competition for my online companies, I decided I needed to really have a close look at how Ebay could help me. My business here is websites, and I sell them on Ebay for a very good profit - but when I started, I knew that I would have to bite the bullet and likely suffer through some struggles at the beginning.
I started to watch sellers who were having success selling high end sites. There are a lot of guys selling sites for $25 on ebay, and then there are some selling sites for $2500 - and I knew which I wanted to be.
My first few sites sold for next to nothing and it was driving me crazy. Why would my site, which in most cases was dramatically superior to many of the others, selling for way less.
Keeping in mind that business is always a learning curve, I set about reverse engineering my competition to figure out just what the heck these guys were doing.
- I studied their key words
- I focused on their format
- The types of sites that were selling
- How much traffic they attracted
- What types of pictures and how many they used
- Which categories they used to list in
- What titles they used.
- What gallery pictures did they use
- Did they promote it using borders, color bands etc.
The list goes on and on. In other words, I learned just about everything there was to learn about the category I wanted to be successful in. The important lesson here though is that selling on Ebay isn't rocket science, but nor is it easy. You need to learn your craft and watch what works for your competition who have figured out the formula for success and then copy it. Relentlessly test and improve on your selling techniques and most importantly, never, never give up.
Since September of 2005, I've sold nearly $50K in websites with my average site now selling for $2500 to $5000. My first site I sold went for $34. The sites didn't change, just my knowledge of how this whole Ebay thing works.
It took me nearly ten years to get to where I am a successful online entrepreneur, and 8 of those were spent in the trenches figuring out what didn't work making 10 cents an hour ( that's not an exageration either )
It is more than possible to make money online - but only if you are prepared to work really hard at it, put your ego and vanity aside and roll up your sleeves and get dirty. Don't think you are going to succeed in one week what it took another a year to do. Always respect the intelligence of your competition and learn from their success and their mistakes.
In 2005, I made 5 times what I did as a grocery store manager in my previous offline life. My sales were over 400,000 dollars network wide and this year I hope to crack a million. I work at home, and spend my summers at the lake. I spent a month in the Carribean last year, I travel and volunteer at my kids school and go on their field trips. I contract out all work that I can't keep up with to other freelancers and most importantly I have a life that is easily obtainable for anyone who works at it with a serious dedication and the refusal to give up - ever.
In year one, I made about $50 in the whole year, and I'm sure glad I didn't give up.
Just keep that in mind next time you are feeling frustrated about your own progress and know that like any overnight success, it takes about ten years in the making - but it sure is worth it once you get to the other side.
If you have any questions, comments etc, I try to respond as quickly as I can. I believe that helping others succeed is just as important as succeeding yourself and if there is anything I can do for you, drop me a line.