ALT-2 Can you really get Rich on Ebay
Most of my older stuff is now out of print but you can generally find it at good prices on such web sites as abebooks.com and even eBay.-Jack L. Chalker, author
You can get rich but having said that...it's not easy and requires a lot of networking and product to make a substantial profit from eBay. Here are some of the routes and ideas you could possibly take to generate big revenue from eBay.
First, you must have a business plan to work from. Selling your used 'crap' that is sitting around the house will only help you financially for so long...no matter how much of a pack rat you are. Having said that you must find an item or items that can be bought and resold at a significantly higher price to help you maintain your pre-eBay lifestyle. I cannot stress this enough: if you plan on taking up eBay as a full time venture and generate cash you must have a consistent flow of stock and/or items to insure that you have a steady flow of income. If your stream of sell-able items dries up so to will your income. For this purpose I highly suggest you have at least 3 months of income stored up in case of any unforeseen problems should arise.
Second, network and secure product. If you only sell here and there the people you sell to will not come looking to you first for whatever you are selling and they are seeking. Once you become familiar with the eBay business model branch out and network with others to secure some type of product that can be sold for a profit. If at all possible try to avoid getting the product that you are selling shipped to you directly. This takes up time, space and puts extra costs on you. Finding a supplier who can ship directly for you is the best avenue for you to take, if possible.
Third, keep in mind ALL the costs that are associated with eBay and adjust your pricing accordingly. This can be a tricky endeavor as most people that are 'shopping' on eBay are looking for bargains. If you are selling a high-demand or hard to find item you can get away with it but if you are selling your run of the mill DVD's, CD's or other items where the competition is fierce you may be hard pressed to make much of a profit. Ebay will charge you, the seller, for everything they can. Listing fees, final price fee, paypal fee and your shipping costs all eat away at your profits. Audit yourself and see exactly what you are making from your eBay transactions.
Fourth, become an expert in eBay policy. Imagine spending a weekend listing 100+ items to find out they have all been removed due to an eBay violation(s) and on top of that you still have to pay the listing fees. It would no doubt suck and it has happened to sellers before for not complying with eBay policies.
Finally, like any other business, make customer service a priority. A buyer who receives good customer service is likely to leave you positive feedback and to look to buy from you in the future. Answer your emails quickly and ship your items as quickly as you can once payment has been made and verified. Those two simple items will go a long way in making a positive experience for everyone involved.
In ending, eBay can be very profitable. In many cases it is a work from home operation but it does take work and strategy. Ebay is NOT an instant get rich scheme (in most cases) and will require a lot of time and effort into turning a small profit much less a substantial one but with dedication and patience you can turn yourself into an eBay rags to riches story.
