Anyone that runs a business of any type or size deals with self doubt. When you're the boss, no one tells you if you're making the right choice or the wrong choice. Maybe the next decision will ruin everything! Maybe it's better to do nothing? Who knows!
And if you're just starting your eBay business, it truly is a leap of faith. Often you must list several hundred items before you see if you've scavenged the right items and priced them appropriately. The big mistake is to only list a couple items and then judge your success on whether those two or three items sell quickly.
Even though we've successfully sold on eBay since 2008, self-doubt still creeps into our eBay business from time to time. Usually this happens when sales are quiet, or when we get a series of unexpected returns. Luckily we have each other to talk through these times. We know that we must look at our numbers over the entire year, and not judge our success on any one particular slow week. We listen to the experience other sellers and research (and more research) to make sure our methods are still reliable. The worst thing we can do is get paralyzed. Having fun and constantly experimenting is our cure for self-doubt.
These are the links we mentioned in this podcast-
- eBay has a new podcast called Open for Business. It's hosted and produced by a cool, independent podcast company called Gimlet.
- eBay has posted recordings from sessions at the recent eBay Open event in Las Vegas. It's free, but you have to sign up to watch. Maybe they're also on Youtube.
Our Store Week July 31-August 6, 2016
- Store #1
- Total Items in Store: 3974
- Items Sold: 22
- Cost of Items Sold: $61
- Total Sales: $745.87
- Highest Price Sold: $125 (vintage painting)
- Average Price Sold: $33.90
- Returns: 0
- Money Spent on New Inventory This Week: $250
- Number of items listed this week: 70
- Amazon FBA Store
- Number of items sold: 12
- Amazon total sales: $241.36
- Amazon FBA Fees: $104.03
- COGS (shipment to FBA included): $15
- Net profit after COGS: $122.33
- Sold 1 items for $25 ----------
- Store #2
- Total Items in Store: 1112
- Items Sold: 11
- Cost of Items Sold: $13
- Total Sales: $220.85
- Highest Price Sold: $25 (five items at this price)
- Average Price Sold: $20.07
- Returns: 0
- Number of items listed this week: 0