I was reading this article and I couldn’t help but agree that in order to stay in business, you have to be financially healthy. It’s not a receive-spend mentality that will make you succeed. It’s more like the receive-roll-into-business-save mentality that will keep you in business for a long time.
I remember a friend who started a small convenience store. He had lots of capital in the beginning and he bought all the merchandise and stocked the store up to the ceiling. It was a great investment and since the store is located on a busy street, a lot of street traffic will help propel his business to great heights. However, although sales were great in the first few months - he was taking in the money and spending it because sales were great. He didn’t even think of setting the capital aside that will be needed to re-stock his store. He just spent it without any vision for the future.
The store closed within a year. Lesson? read on…
Popularity: 10% [?]
Much of my success on eBay was the early lesson that I learned while selling my DVD and CD collection. It was by chance that I realized the successful process. If you are looking to sell on eBay and expect to receive high returns immediately, you are more likely to get discouraged if no one puts a bid on your items. And why is that? You may be pricing your items too high for the common eBay user. Most of the people that log on to eBay are expecting bargain prices and therefore, they are bound to look for “great prices” or “great buys” while browsing through items. When I started, I didn’t care if my CD or DVD sold for a dollar. I just wanted to get rid of them. I listed all of the items with a starting bid of .01 cent. That got a lot of attention and my items received more bids than the same CD or DVD with a starting price higher than a penny.
eBay is the leader among online auction sites. They generate millions of traffic worldwide. In addition to their U.S. site, they have localized eBay in 30 countries. eBay owns Paypal and Skype as well.
It isn’t enough that you find your niche and expect to be successful in selling your items on eBay. For example, you may realize that you can knit multi-colored socks and you can be very good at it. You may be the best person who can create multi-colored socks. The question is: Is there a market for it?
