- Complete your research thoroughly before you dive into starting an eBay business, to make sure there is an adequate profitable opportunity selling your chosen products on eBay.
- Brand every aspect of your eBay business consistently – it should be clear across your ID, store, email address, listing information and marketing materials.
- Reduce your time overheads wherever possible. Constantly look for ways to reduce how long it takes to complete each of the tasks associated with running your eBay business.
- Learn from others. Buy from your competitors both on and off eBay. Pay careful attention to what you need to emulate – or improve on – and what you need to avoid.
- Plan for growth. Completing a business plan is time-consuming and can feel daunting, but I’ve seen too many eBay sellers fall into the trap of not planning adequately for future growth or having systems able to cope with the volume of buyers eBay can deliver. Taking your time to complete a comprehensive business plan will pay dividends in the long run.
- Learn something new. Every small-business owner I know complains that there isn’t enough time in the day to get everything done, so finding time to teach yourself new information is difficult. From the outset plan one to two hours every week – the same day and time each week is a good habit to form – to learn something new about your eBay business and the category you sell in.
- Leverage your existing networks to find new products to sell on eBay. Take every opportunity to tell people what you do and remind them you are looking for more products to sell.
- Find yourself a successful business mentor. Meet with them regularly to discuss your business openly and seek their advice on how to improve your operations; be open to criticism.
- Attend events with other eBay and small-business owners. Learning from those who have ‘been there and done that’ can be the best way to fast-track your success.
- Revisit your business plan every few months – an outdated plan can be more damaging than having no plan at all.
Excerpt from The New eBay by Todd Alexander (John Wiley & Sons)
