| None of us are perfect. | | | | you may not want that anyway, preferring just to |
| We all promise to do this or that and end up doing... | | | | make a steady, reasonable extra income. |
| nothing. Procrastination they call it and it is an | | | | Okay, let's now consider the 'repeat sale' method. |
| affliction that we all suffer from. | | | | This second approach involves the purchase of stock |
| But if you have a chronic case then beware, because | | | | and then selling your items over and over again. Like |
| it could seriously damage your eBay wealth! | | | | the first system, the 'repeat sale' has its good and |
| This is especially true if you're the type of person | | | | bad points. |
| that simply bursts with exciting ideas for new eBay | | | | One advantage is that you can easily build a bigger |
| projects. I'm sure you jot these down (or you should | | | | business. Also, once you've established a good source |
| do!) but do you promptly act upon them? Or do they | | | | of supply for your stock you are then just listing, |
| remain just paper promises? | | | | selling and relisting again. |
| If you fail to act, then procrastination can prevent | | | | Are there any disadvantages? |
| you from making some useful extra revenue. By | | | | Price-based competition will be your main hurdle. And |
| doing something you can at least receive some | | | | if there's an established market for your item then |
| feedback (useful for any future project) even if your | | | | that competition is likely to be fierce. Also, your |
| venture didn't do too well financially. | | | | return per item will probably be lower but you're likely |
| But before you're even given the chance to delay on | | | | to sell more and at a greater rate. |
| your eBay brainwave, there's a very important | | | | So which method should you choose? |
| decision that you need to make first. And that is: | | | | Well, this is entirely your choice based upon your |
| Just what type of eBay business 'model' do you | | | | available free time and your long-term eBay goals. |
| intend to launch anyway? | | | | Only you have a full understanding of your situation. |
| Sound confusing? Let me explain. | | | | But if you're short on time, want to make some |
| In essence there are only two business models that | | | | quick money and just see yourself as a part-time |
| you can follow on eBay. The first is where you're | | | | eBayer then the 'one sale' model is a good starting |
| trading in the same product over and over again. This | | | | point. Alternatively, if you already have some eBay |
| could be just about anything but the product you sell | | | | experience and can devote more time to trading |
| remains basically the same. I will call this the 'repeat | | | | then the second model should provide you with an |
| sale' model. | | | | exciting challenge. There are no hard and fast rules |
| The second system is where you're buying a unique | | | | here. It is purely a matter of personal choice. |
| item, say for example a rare piece of porcelain, and | | | | One steady way to make progress, without undue |
| then reselling it for a decent profit. You then look for | | | | financial risk, would be to start off on a 'one sale' |
| another interesting item to buy for eventual resale. | | | | basis, make some money and gradually build up your |
| And the process goes on. For convenience, I will call | | | | capital base. After awhile, you could then launch other |
| this the 'one sale' system. | | | | eBay ventures. All the time you will be gaining |
| So from the outset, you have to decide which model | | | | experience, increasing your working capital and |
| you wish to concentrate on because there are | | | | becoming a seasoned eBay player. |
| advantages and disadvantages to each. And | | | | You could of course run the two business models |
| depending upon your circumstances, one system | | | | side by side. It can be accomplished but you need |
| may suit you more than the other. The right choice | | | | the time. There would be a lot of work involved but |
| can mean a greater monetary return for your efforts | | | | it is possible. However, if you're a beginner then this |
| as well as increased 'job satisfaction.' | | | | route is not recommended. If you're just starting out |
| A closer look at each business model will hopefully | | | | on eBay then you need to walk before you can run! |
| help you focus on your activity and maximise your | | | | But if you could manage this 'double' approach then |
| returns. So let's consider each one, beginning with the | | | | you would create two separate income streams. This |
| 'one sale' system. | | | | means in effect that you are spreading your risks. |
| This is the ideal part-time route to eBay success. You | | | | You would create two separate supply sources, |
| can easily devote just some evenings and weekends | | | | customer base, e-mail contacts etc. |
| to building a very profitable business. And you can | | | | If one of your ventures wavered then you would |
| quickly establish a loyal customer base that will buy | | | | always have the other to cushion any financial blow. |
| from you again and again. | | | | It all makes good sense if you have the time and |
| But there's also a negative side to this type of | | | | resources. In this instance, you would be advised to |
| trading. | | | | trade under separate ID's for each of your trading |
| Your income will be variable and your efforts are | | | | models. This would avoid confusion especially if you're |
| essentially time dependent. Also, knowledge of your | | | | trading in very different items (e.g. antique dolls and |
| market will be vital, as you will be seeking products | | | | auto parts) |
| to resell profitably on a consistent basis. But if you | | | | This information should help you to assess the |
| have an interest in your niche market then this may | | | | approach that is right for you. It might now be time |
| not be such a hardship. Personally, I enjoy the thrill of | | | | to make some major adjustments to ensure that |
| the chase, hunting down an interesting item to resell. | | | | you get the maximum return from all your eBay |
| Another consideration is that your earnings will | | | | activity. |
| probably be 'pegged' at a certain level because of the | | | | Whatever you decide, enjoy your trading and keep it |
| time factor. And because you're basically a 'one-man | | | | profitable! |
| band' it will be difficult to grow really big. But then | | | | |