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So, brand new to this…but after spending a couple months doing research on what type of home based business to start what everyone here is doing is the rout I have decided to go.
What I’m wondering is if you had the chance to start over in a position like mine what do you wish you had already know? I think I have things figured out, but I’m always looking for advice from those more experienced then myself.
All information is helpful information, so thank you!
-Steve
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Start off selling things around your house that you no longer want before thinking of investing outside cash in this. Figure out listing, shipping, payment procesess first.
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You need to become very good if not expert at three things:
Photography – Proper lighting, good color balance, IN FOCUS, relevant photos highlighting pros and cons of the item. Good photos sell product more so than any other factor IMHO. One aside, Steven Schultz does an outstanding job with his embedded videos, check them out. Videos add a layer of buyer confidence especially with electronics.
Titles – Forget wordy, blowhard descriptions. Well written keyword rich titles are a close second to good photos. This is purely anecdotal from a random guy on the interwebs (me) but I’m convinced 70% to 80% of buyers base their buying decision on the title and photos, ain’t nobody got time to read descriptions.
Shipping – The most daunting of all. Buy a decent quality digital scale, understand how to properly cushion and pack items and most importantly understand how to calculate shipping to the various zones around the country which is based on dimensions and weight.
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@almasty @Jay Already have a pile of things of my own to list, going to start working on it when I get home today.
@T-Satt For now I’m just planning on using it to augment my current income. But eventually I’d like to make it my full time job. I’d rather succeed or fail based on my abilities and effort, I’ve spent twenty years working for other people, and I’m ready to strike off on my own.
@IncompetentPicker Those are three of the main things that keep coming up in my research, but thank you for reiterating, I’ll make it an extra point to study more on each topic.-
This is a good attitude. If you’re willing to work 40+ hours for someone else, just do it for yourself.
All good advice above. If you can find–sell–ship one item on eBay, then you can sell 10,000. It’s all about listing. Most people burn out quick because it’s a very unglamorous process and can feel like work!
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@Jay I’ve spent the vast majority of my adult life in factories, I’m not concerned about my ability to deal with the mundane and repetitive aspects of this.
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Shayward: Welcome to the “own your life club”.
The best advice I can give you is to work hard … and have patience. You need to put in all the hours that you can and want to give to this, but know that success takes time. Especially as you start, you will list a LOT of items, and sales will trickle in. But keep working and growing, KNOWING that it will pay off down the road.
As a numbers guy, here is what I can tell you that backs that up. First, our average days to sell is 120. Meaning it takes, on average, four months for items to sell. Patience.
Second, our average sales week:
2013: $579
2014: $719
2015: $1,162
2016: $1,486
2017: $1,981
2018: $2,222Growth takes time (and hard work to plant and grow the garden)
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2013: $579 – Avg # of Items Listed: About 200
2014: $719 – Avg # of Items Listed: About 400
2015: $1,162 – Avg # of Items Listed: 625
2016: $1,486 – Avg # of Items Listed: 1,242
2017: $1,981 – Avg # of Items Listed: 1,554
2018: $2,222 – Avg # of Items Listed: 1,6982013 & 2014 are a guess, I don’t have that data. We were still part time then. 2015 is when we took the plunge and went full time.
This is with an average Sell Thru Rate of 20%, and with Average Selling Prices in the $22-$27 range. Your STR and ASP will generate different results. J&R have a different model, with higher ASP ($30-$40) but with a much lower STR (3%-5%), so they need a bigger inventory size (6,000+) to generate their weekly returns. Each model will be different.
So my best advice is to track your numbers and you can see what levels you need to meet your sales goals.
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I would offer to you not to worry about being a “seller” or even making sales. I would offer to approach this process objectively without emotion or expectation. Consider yourself a student learning the process of online selling and selling on eBay. Expect that you will be right on in what you do, make mistakes, have moments of understanding and awareness, have moments where you are scratching your head, and have learning opportunities presented to you that may include expenditures. I would offer to remember that selling online with eBay is just one opportunity in the vast number of opportunities that are available in the online world of selling.
Focus on answering these questions (if you have not already) for yourself and then focus on one item at a time. It would be good to start with an item (or items) around your house that you are ready to part with. This gives you a level of expertise in what you are selling as well as the ability to get rid of stuff you may no longer want. I would offer that you not create a pile to list because that might feel overwhelming. If you find a focus and put it towards one item, eventually, you will notice that you have listed 5, 10, 15 items or more. Put the highest level of quality, effort, and time into each listing when you start in order to help avoid mistakes and/or returns.
1. What do I need to know about eBay in order to list something?
2. Have I set up the details in my account properly for listing and/or shipping?
3. Will it cost me anything?
4. Are there fees?
5. How do I create a listing?
6. What happens if I do not finish a listing in one sitting?
7. Who will I go to if I have questions?
8. Have I setup a PayPal account and will that account be personal or business?
9. What one item do I have that I am ready to put the time, energy, and resources into listing and/or selling?
10. Do I have the equipment needed to list? Even though you may not sell an item overnight, you need to be prepared to do so, just in case it happens. Some equipment includes: a functioning computer and printer, a scale, something to take pictures with, a tape measure and/or ruler, what you will package the item in and with – box, envelope, wrapping, tape, etc.
11. What will buyers need to know in order to be in interested in and/or purchase my item? Try to find items without flaws at first to ease your work and reduce the possibilities of returns.
12. If I was looking for this item on eBay, what would I type in?
13. What do I need to know about listing titles?
14. What do I need to know about writing a good description?
15. Who will pay for shipping there and back (in case an item is returned).Be extremely patient with yourself and this process. The first sale is very exciting and can make you feel like you can just sit and list 100 or more items and they will all sell. And then reality will hit. The reality that listings, becoming a seller, and building a business take time, effort, energy, persistence, patience, consistency, and continued study.
Best Wishes in your new adventure into the world of eBay and selling online.
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@T-Satt and @AdventureE Thank you both very much! Great information, now I have more studying to do.
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shayward23,
I would also like to offer not to compare yourself to any other seller (in or outside of SL) or do any should of, could of, or would of’s in this process. As you will see in SL, there are highly experienced and knowledgeable sellers, those with a mid level of experience and knowledge, and those who are totally new to the process. Simply focusing on running your own race, learning as you go, and being open to what is and can happen in your personal ebay experience.
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