OK, well I am starting a NEW eBay business anyway so my husband can give up his no so ideal job and earn the same on eBay/Online. But as with everything, eBay is a great way to test a theory.
So, in Blue Peter fashion what do I need.
1. A eBay account with good feedback – got it, my old ‘rubbergirls’ business account can be converted.
2. Payment method – I have an alternative Paypal account to use which can be re-branded with the new business name.
3. Saleable stock and a decent price – the items I will sell are around the £40 mark on eBay and selling well so there is lots of leeway on profit margin for fees.
4. No delusions of grandeur. – This is very important, start small and build up – I am going to start with 12 pieces. Speaking to another seller in this field, it took his 4 years to carve the business he has now, he takes home £4k a month and loving it. His advice is to stay small enough to operate out of your garage and not employ staff, other than your other half! You can always pay your mates to come round if you land a ‘deal of the day’ spot and do £10K before lunchtime one day……
So, when your starting an eBay business, done think it will take off over night, my hair business too 6 years before it started making real money and my consultancy business around 3 years. Start with a small investment then only spend the money you bring in on new stock. It might mean you are not making profit for a while but your building up the most important things in business:
– Customer relationships and trust
– Supplier relationships
Seen as though eBay and I might fall out in 2010 thought is to be made about the ‘website’ for this business. It should be built alongside building up the eBay business and will be my first design spend. I will create the eBay design myself, nice and simple.
Well lets see if we can make this work.
