How to Make Money on e bay?
As all of us are now more aware of the power of e bay, we are asking more and more as to how can we make money on e bay? In fact, the new opportunity in making money on e-bay is one of the most brilliant features of the internet age. It’s so effective, so simple that from a single mother with a few children, retired school teachers are earning six figure incomes through e bay.
Before I go into the details on how to make money on e bay, let us take a look at the rear view mirror for a while:
Merely 15 years ago, I had my first Yamaha Pacifica guitar. At that point there was no e bay. However, I was making some good noise, and my eyes were on the Steve Vai series Ibanez guitars. I made a plan:
-Sell my Yamaha
-Save money by all means
-Buy the Ibanez
I took immediate and massive actions, and hit a rock solid wall. Not everyone is interested in buying a guitar, and someone even offered me a lower price than that of a cheap acoustic guitar. Finally, one of the senior student in my school bought the guitar, paid 1/3 of the money and made a promise to pay the rest at a later date.
I never received the money and because of that, I could not buy the Ibanez at that time. It made my heart and that too of a young teenager guitarist bleed for a long time as:
-I did not have my dream guitar
-I did not even have my old guitar to play!
I started to believe there was something wrong with me that I had to suffer so much.
Whereas the answer was, a big NO
The problem was:
I Could not Forward the News to the Interested People!
Compare this scenario with e bay, the world’s most popular online auction place! The wall I hit is gone, and selling products have never been any easier.
You can make money on e bay on several ways. I will discuss them in the order of magnitude and time commitment.
- Your Reason to Make Money on e bay #1: Just Earn some Extra Cash?
If you are just looking for earning some extra cash, the answer to your question on "how to make money on e bay" will be a bit different. You could use e bay to sell the stuffs that you used to sell in your garage sale. It does not matter if it’s your kids old shoes, a book that you no longer require, a furniture that’s sitting on the corner for some time, there is a buyer out there for that and it will get sold. You will get some quick cash.
- Your Reason to Make Money on e bay #2: Thinking of Replacing Your Day Job?
Hmm, now it’s getting exciting and I can feel your blood circulation getting faster. In fact, why not? It’s really simple to earn a living, or more than a living out of e bay.
The Top 5 Techniques on How to Make Money on e bay
- Make Money on e bay Technique #1: Choose Wisely
In the early days when Ronaldo was becoming a famous football player, I used to think, umm, he does not make many moves, then why is he paid so much? I discovered the why pretty soon.
When Ronaldo touches the ball, it’s a score.
A good football player does not hit every ball that comes to him. A good batsman does not play every shot. Can you replicate the same in becoming a successful tradesperson on e Bay?
Let me answer for you, yes, you can! Although everything from toothbrush to a 2 seater jet planes are being sold on e Bay, you could easily find your niche. So many people use the term niche for so many things, whereas my definition for niche is:
A commodity that has great demand and very little supply.
Find the niche, specialize in it, and it will reward you so well. Can you imagine yourself owning e bay for one product? Do you have anything specific that is available in your locality only? And the product is in high demand?
- Make Money on e bay Technique #2: Keep Your Purchase Price Low
Let us take a closer look at the equation of profit,
Profit = selling price – your purchase price.
Register a business, and get a license to get tax back. This will allow you to buy directly from the manufacturers at the whole price. You could sell it on e Bay for at least 40% less than a physical store nearby and make good amount of money on that. Potential bidders will be waiting for your next auction, as he knows that he is getting it at a significantly lower price than in his next door retail store.
Its in fact a triple win strategy where the customer wins, you win and the manufacturer wins as well!
- Make Money on e bay Technique #3: Write the Advert Correctly
Welcome to the e Bay ad 101. The market place here is quite different, and you need to change the sales pitch as well. People on eBay do not like to listen to the empty words like massive, big etc. Rather than that, make your title as specific as possible. For instance, if you are selling electronics, simply use the Brand Name and Model number. It will do the tricks.
In the body, just feature the key points and specs. Also the winning strategy is to advise of any possible drawbacks. Nothing more than honesty sells on e Bay.
- Make Money on e bay Technique #4: Build Credibility
When I buy a product from e Bay, I often pay a bit more money for the same product from a supplier with greater feedback ranking, and I can bet you do the same. So when you are building your business on e Bay, you need to be that supplier with a higher credibility.
If you are a new seller on e Bay, and thinking well, how do I do so? People already have hundreds of positive feedbacks!
Let me assure you, Rome was not built in a day. Start your career by selling lots of fast moving small goods. In no times you will sell hundreds of them, and your credibility ranking will be looking the same as the seller you envied earlier.
- Make Money on e bay Technique #5: Creative use of E bay
There are even some exciting ways to make money on e bay other than selling specific stuff or hard products. The key fuel to today’s web business is Traffic, and e Bay has it in abundance. When I am looking for the answer to the question how to make money on e bay, the image of so many people addicted to e Bay comes to my mind. I won’t deny I was one of them. Now a days even when opening an online store, I do my research on e Bay.
You can run an ad on e Bay for a minimal price, drive traffic to a few of your websites. It has the potential to take care of the marketing of the website. With this targeted traffic at low cost, you could earn money from affiliate products really easily.