!!! Top 10 Things You Need !!!

To Be Successful on eBay

• Consistent, repeatable income requires applying proven retail strategies to your business
• Success is a combination of factors, that when woven together result in a solid business model
• Scheduling these 10 strategies for success into your week is key to your business’ growth and development
• Action produces results. Every action you take has a direct impact on your success and your income

“Treat your business like a business, and it will pay you like a business. Treat your business like a hobby and it will cost you like a hobby!”

1. The #1 misconception about selling on eBay and why it will hinder your
business.
􀂾 “eBay Business” or retail business?
􀂾 Build a retail business first
􀂾 eBay is a venue that you use to sell on
􀂾 Without taking this approach you will not recognize the importance of
employing true retail principals

2. Get Legal
􀂾 Get your business license
􀂾 Don’t try and contact suppliers without it
􀂾 Have your paperwork in hand
􀂾 If you have not yet taken this step, don’t delay, do it today
􀂾 Make the commitment to your business

3. Planning and Goal Setting
􀂾 Have an overall vision for your business
􀂾 Write it down! This simple act can increase your chances of
success by 70%.
􀂾 Sellers who don’t have a vision have a difficult time with product
sourcing and marketing decisions
􀂾 Break your vision into short term goals
􀂾 Track short term goals – measure your results
􀂾 Revise long term goals regularly
􀂾 Are you an entrepreneur or a technician?
􀂾 Is performing daily the daily operations of your business getting in the
way of planning your growth and scaling your business
􀂾 Ask yourself – what have I done to expand my business today?
􀂾 Schedule time on your calendar for these actions

4. Establish a Presence
􀂾 If you look like an established business, customers and suppliers will
treat you as such
􀂾 Don’t cut corners on your branding
• Logo
• Business cards
• Package insertion flyers
• Listing templates
􀂾 No free email addresses
􀂾 Fax cover sheets with logo
􀂾 Letterhead with logo

5. Building Your Product Line
􀂾 Thought and research must go into every product you select
􀂾 Brick and mortar retail buyers look at hundreds of products to select
one
􀂾 It is up to you to find out what your buyers want
• Trade publications
• Trade shows
• Trend reports
• Talk to your buyers
􀂾 If everyone else is selling “it”, you need to either have a different
supplier, different version or a different approach
􀂾 Use a Product Sourcing Notebook™
• Product Sourcing Mindset™
• Idea Hotspots™

6. Niche Selling for Success
􀂾 Carve out a slice of a larger market
􀂾 Sell to a specific group of buyers who are looking for your product
􀂾 Focused marketing
􀂾 Ability to become and expert in your product line and dominate the
market

7. eBay Store
􀂾 A necessity to compete in today’s marketplace
􀂾 Traveling salesman or established merchant?
􀂾 Must be fully optimized and utilized for maximum exposure

8. It Pays to Advertise
􀂾 A customer is a customer, it doesn’t matter how you get them
􀂾 A wide variety of advertising is required to establish a customer base and
let people know about your eBay store
􀂾 Online advertising
o Search engine presence
o Auctions that direct buyers to your eBay store
o Targeted discussion group participation
o eBay’s email marketing
􀂾 Offline advertising
o Business cards
o Promotional flyers
o Local advertising

9. Customer Service – Your Competitive Advantage
􀂾 Customer service DOES matter and can make the sale
􀂾 Tell your customers how good your service is
􀂾 What do your buyers want? Express shipping? Special packaging?
􀂾 Ask your customers how you are doing and they will reward you with more
sales

10. Financial Tracking & Inventory Planning
􀂾 What is your product profit margin?
􀂾 What is your overall profit margin?
􀂾 Need to know the financial status of your business for adjustments and
planning
􀂾 Start an Inventory Planning Notebook™
􀂾 Assemble your sales data as well as research data and competitor
analysis
􀂾 Base future inventory purchasing decisions and sales and advertising
strategies on this data


□ Remember, you are building a retail businesses on the eBay platform
□ Get Legal. Is all your paperwork in order?
□ Plan your goals and work your plan. Write your plans and goals down
on paper. Review and revise regularly.
□ Establish a professional business presence
□ Schedule time daily to build your product line
□ Develop a niche
□ Build your eBay store
□ Advertise online and off
□ Provide Gold Level Customer Service
□ Track Financial Results. Plan future inventory purchases on these results.

by whatdoisell.com