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Earn Money on Ebay: The Most Important Steps For Success

Written by: Jeff Casmer

Article Overview: If you are looking for a means to earn money working from home then to earn money on eBay may what you've been looking for. eBay is still among the top contenders for easy, fast, profitable start up businesses

Earn Money on Ebay: The Most Important Steps For Success

If you are looking for a means to earn money working from home then to earn money on eBay may what you've been looking for. eBay is still among the top contenders for easy, fast, profitable start up businesses.

Success is not guaranteed, it never is, but when compared to other business models, eBay is a reasonable challenge for anyone who wants to earn money at home. With all businesses though, prior research can help increase your odds for success.

Many people jump right in by simply picking a product they like and trying to push it off. My suggestion however, is to start by subscribing to eBay's market research tool for ten dollars a month. You wont earn money on ebay by picking the expensive items first until you know the ins and outs of running a business on ebay.

This tool gives you the opportunity to enhance your selling potential. eBay's market research tool allows you to search up to 90 days of historical eBay's listing in order to measure the market or the optimal price the products you sell. This tool answers questions like, "what is the average price of the item I am selling?" and "at what rate do they sell?" eBay's market research tool can help you determine what to sell.

Using the market research tool you will want to analyze the Sell Thru Rate (STR), the average price per sale, and the total number of sales in the last 30 days. You can determine the STR by looking at the total number of successful auctions and dividing by the total number of auctions for that period. A market that has an STR above 50% and has more than 1,000 sales in 30 days is worth entering. With any business, the trick is to buy low and sell high.

In other words, you want to find markets with lots of demand and little competition and sell the item at a price that will make you a profit. This sounds like a simple concept however, many people struggle when it comes to executing it. Consider your strategy for buying products that will warrant a profit when you mark it up but still has appeal to your market. Luckily you can find wholesalers right on eBay. Most subcategories host listings for wholesalers who sell products in that same category.

This seems like great deal of prep work just so you can work from home but it's the only way you will earn money on ebay. Getting the research done is crucial to you long term success. It's what sets apart the fly-by-night businesses from those that are here-to-stay. Before you register for you eBay seller's account and set up your store do your research. Everything else runs much smoother when you know exactly what you are doing.

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Article Tags: auctions, business models, ebay, ins and outs, market research tool, money at home, money working from home, odds, optimal price, prior research, running a business, s market, struggle, suggestion, top contenders, working from home



Related Forum Posts
Re: Selling on eBay - [quote="BuzzAroundBooks":ctamvpom]Does anyone know if you can remove an item that you've listed for auction on eBay and then conduct a private sale? Is there a way to do this without violating the rules on eBay?[/quote:ctamvpom] If you are going to have a private sale with someone that saw the listing on Ebay and you complete the sale off the Ebay site, it violates their rules as far as I understand them. You can re-enter the info on Ebay and let someone bid right away to complete the sale and then Ebay gets their share. Chris
Ebay actually drives prices up... - I have an acquaintance who collects rare books. He went off on a rant about Ebay in his blog a couple of weeks ago. It used to be he could buy books for quite reasonable sums, but ever since Ebay debuted, people are putting their stuff up their with inflated reserve bids, and the uninformed public are buying those books at ridiculous prices...so now even book collectors that don't deal on Ebay are also inflating their prices, because if people are too stupid to know what is proper market value... For myself, I fell victim once... not so much to a scam but to my own lack of knowledge of what I was buying... Way back in the 70s Forrest J. Ackerman published 8 issues of a magazine called Spaceman, and I wanted them all. I also thought they were very rare and was willing to pay any price to get them. So I bid $100 for a beat up old issue of Spacemen 1, and got it, and of course next week another issue was up there for $20. So I was not a happy camper. Lessons are - know the market value of what you want to buy and realize that there are other places besides Ebay where you can get it.
Re: What or Who Sparks Your Business Interest - It's interesting to see what the different motivations are by Age Category. I've noticed this around me: 20 to 29yr olds: Motivator: Money 30 to 39yr olds: Motivator: Success/Ambition 40 to 49yr olds: Motivator: Family comes first 50 to 59yr olds: Motivator: Leaving a legacy i've only gone that far in my analysis. Of course this is a braid generalization but I find that it helps direct my marketing to individuals in different age brackets. The product/service can be the same but the Marketing message (Benefit Statement) to a 20 year will revolve around "Money" vs. a 30-something would be on their "Self Image"
Re: What works for you? - Hi Yinka, I work better under pressure of deadlines when I am doing something for other people. However, I like to have the leisure to develop my own projects. The first case is what Stephen Covey calls a "Quadrant 1" activity ("Important and urgent") whereas the second case is a "Quadrant 2" activity ("Important, not urgent"). We should aim to make as much time as possible for Q2 activities so that we can develop our own projects. Easier said than done!
Re: Success - I study success intently, and would like to share: Here's two excellent and nearly identical success-formulas from a couple of the world's masters. FIRST FORMULA: 1. Passionate Desire 2. Clear, Definite Purpose 3. Committed Decision 4. Take Action In Faith (Bonus Secret Sauce: 5. Repeat Consistently) I made a video about this, but am not allowed to link it yet. Google "Ryze Success Steps" for it. Oh, and this is Napoleon Hill's (Master Of Success Laws)'s Formula. SECOND FORMULA: 1. Passionate Desire 2. Understand It Is Already Done (Faith) 3. Relax & Allow It To Unfold (Go about your life calmly) This one is courtesy of Abraham-Hicks (inspiration for the movie The Secret). Hope that helps!


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