Ebay will definitely go down in history in more than one way. eBay revolutionized the way we trade goods and with more than 135 million users in 32 countries, eBay is the biggest marketplace to have ever existed. To start an online auction business on eBay has great potential and many eBay store owners have become international business giants.
To Start an online auction business on eBay is incredibly easy, and without any real technical skill you can have your won store up and running in no time. The best part is that it's not going to cost you a thing. Without having to set up your own website and maintaining an online store, you can have all the benefits - without any of the trouble. But the most powerful aspect of your online auction business on eBay is the fact that you are plugging into Ebay's 'system'. Indirectly this means a lot of customers right at your doorstep and in the online world customers and traffic is everything.
If all this sound too easy and too good to be true, stop! eBay is a tough business and taking your share of the pie is not that easy (but then again any business is tough). The potential that eBay offers as a business opportunity is unrivaled though and if you are committed and dedicated you can make it big on Ebay. Here are 3 essential tips to start an online auction business on Ebay.
1. Find Your Niche And A Unique Selling Position (USP) --
If you do what everybody else is doing it is incredibly hard to stand out and be successful. This principle is evident everywhere in life - not just on Ebay. The big question is what will set you apart from your competition? This does not necessarily mean having a unique product, but it is more about what you bring to the business. Finding your niche is probably the most important first step to take.
What will your eBay business focus on? What will you sell and who is your target market? Who is your ideal customer and what is she looking for. The tighter you focus your niche, the bigger your chances of dominating that market. The key is to start specific and fan out as you grow your eBay business. Trying to sell anything to anyone spells doom from day one.
2. Find Your Product --
Having a product is an essential part of your eBay auction business. People come to eBay to find bargains and unless you can offer them a bargain, you probably won't grab their attention. There are many great sources for products and Tradesns is probably the biggest and most popular directory of wholesale products. This is by no means the only source. Maybe there is a product unique to your part of the world or maybe you even have your own product just begging to be released to the world.
Finding a great product can often be your USP that sets you apart from the rest. Keeping a close eye on the top selling products on websites like Amazon.com or Shop.com will give you a pretty god idea of what people are buying and, if anything, this can start to trigger your imagination. Keep in mind that people are looking for either a bargain or something they simply can't find elsewhere.
3. Build Your Reputation and Your Presence --
Ebay's seller rating system is a very important part of what makes eBay work so well and reliability really is a big issue on Ebay. Having a good feedback score is essential in building buyer confidence and keeping good relations with your clients is vital in having a successful online auction business on Ebay.
The concept of putting your customers first is essential on eBay and one bad feedback can cost you sales in the future. Adding your personality to your eBay business will greatly add to the success of your business and a personal touch can go a long way. People are looking for real people when they buy stuff - especially used and second hand goods and a personal touch will go a long way.
