My Auction Empires – eBay Consultants

Helping You Take Your Business To The Next Level

Who Is My Customer ?

As an eBay Consultant one of the topics that I spend time talking with a client is Who is my customer ? Today I was sitting with a client and talking with a PR Consultant about a project my client is about to launch and some of the first words he said was “Who is your customer ? ” and I had to smile as this confirmed what I had been saying to my clients.

In business we very often like to think we can sell products to all people, now while some companies can manage this the companies who fine tune their market are very often the market leaders. For example Tiffany’s sell high end items, they do not sell the £4.99 items, yes they could do but their brand and market says high end.

You need to look at your business and write down who your ideal customer is, for example :

  • Male, female or both
  • Age range
  • Income range
  • Hobbies
  • Work
  • Music they listen to
  • Where they go on holiday
  • And so on.

The more you know about your ideal customer the better you can market to them, and the better you can market to them the more sales you will make. And as you get to know you customer better, you can target the adverts and newsletters you sent to them. And as I mentioned before if you are selling  £1,000 items, you do not want to be sending out newsletters about 99p gadgets. And the same goes that if you are selling 99p gadgets you do not want to be marketing £1,000 gadgets to these customers. Yes of course you will make the odd sale, but it will be rare.

Please spend the next few weeks thinking “Who is my customer” and then market to them, by using the language they use, and you will soon see a increase in sales.

 

How To Keep Track Of Your eBay Items

As my eBay business is starting to grow and I am selling more items of my own and also introducing some drop-shipping into my Trading Assistant mix it got me thinking how can I keep track of where the different items are around by eBay room and which items belong to which drop-shipping client. At the moment I am working with three drop-shipping clients, but this could increase over the coming months.

It then struck me for my own items label the shelves and boxes and files where the items are with a series of letters and numbers, and then when I list an item at the bottom of the listing just a SKU and put in the ID. Thus when an item sells, I know where to look for it. Well that is the idea and for now I believe this system should work.

I will use the same process for my Drop-shipping Trading Assistant clients but just use the initials of their company, this will help me know who to place the order with.

And for my Trading Assistant clients whose products I handle use a combination of the name and where the item is stored in my eBay room.

If people have a different plan or idea on how to manage where items are please leave a comment below.

Selling On Amazon

Today I was on a consulting call with an eBay client and due to some issues he has having with his camera and need to list some items as fast as possible to start to bring some money in as soon as possible from the items he has been buying, but with a a broken camera and 150 miles between us there was an issue. It was then it struck me most of the items he had bought were books and Dvd’s and bar codes, so I got him him to go to Amazon and talked him through the process of opening an account to sell his items.

Then I talked him how to list an item on Amazon in a few clicks and entering a few words about condition. He was shocked to how easy it was list an item and loved the fact that he did not have to take a picture of anything and there was not listing fee. He was able to list items in a few minutes instead of 10 minutes.

Anyway on the call today he was so excited as he had sold one of the items and he had made a nice profit. This got me thinking big time , there must be loads of other people like my client, and due to this reason there will be regular items on Amazon appearing, and how to sell on the site.

And if you are not selling on Amazon yet, I would look at it as a serious platform along side eBay to sell your items.

How To Raise Some Quick Money 

How to raise some quick money to buy stock or to pay a few bills is a common question I get asked by eBay clients old and new. In 2012 there are many ways that we can access quick money things such as Bank Loans, Credit Cards, and companies such as IWOCA – (IWOCA is a business set up to let eBay seller have access to money over a short period of time to fund stock and this has been covered in some previous articles on here.

But there is another way that we have seen on The Apprentice and also Amanda O’Brien has spoken about as well in articles and blog posts. And this is how you can start a business with as little as £150.00 and turn it into a mega business. In the recent The Apprentice we say how the teams were given £150.00 each and a pitch in a shopping mall and a market and were told to buy stock from a warehouse and when they sell out buy more, and at the end of the day the team with the most assets would win. Simple, easy and straight forward. Amanda told us how we could invest £150.00 in stock and go and do a car boot sale and make money and as a person who walks the talk she did this and it worked.

But this got me thinking what happens if you have not got a spare £150.00 lying around to by stock – well I might have an answer that could help you on your way to a profitable eBay business and show you how to raise some quick money to buy stock.

Step 1 – I want you to go around your home and look for items you no longer need or want. I want you to do this in each room and make a pile in the middle of the room. Then do the same for the loft and garage.

Step 2 – Look at each item and double check with yourself and loved ones you no longer need or want it. And remember if it has been in the garage or loft chances are they were put there due to the fact that they were no more use to you.

Step 3 – Price up the items and place them in the boxes.

Step 4 – Look in your local paper and see when there is a car boot sale on

Step 5 – Get some change as you will need this on the day

Step 6 –  Load the car up the night before the car boot as it will be an early morning start and pack a lunch. Also you will need some pasting tables.

Step 7 – Get to bed early

Step 8 – Get up early and go to the car boot sale, and pay you boot fee

Step 9 – set out your items and sell, sell, sell.

Step 10 – Come home and count your money

Step 11 – Use the money you have made to buy new stock to resell either at car boot or on eBay

Step 12 –  Rinse and Repeat either on eBay or car boots, and keep re-investing money from the sales, soon you will be able to take some money out for yourself.

I hope the above has shown you how simple it is on how to raise some quick money to buy stock or pay some bills. You can either use Amanda O’ Brien , Alan Sugars Method or the quick one I have just outlined. But the important thing is just go and do it and make some money.

Profit From Bank Holiday’s

Here in the UK we have another long weekend with the Monday being a Bank Holiday (May 7th 2012). This means people have an extra day of leisure to fun things either on their own or with their loved ones. Some people may spend time in the garden or spend it doing decorating. But what about those who have eBay in their blood, and live and breath eBay 24/7.

Well for most eBay sellers they are going to profit from another bank holiday, and they can do this is many ways such as :

  • Attend another car boot sale and buy some new stock to sell
  • They can attend a craft fair
  • They can attend an antique fair and source items to re-sell in their eBay shop.

But as well as as going out and doing some extra product sourcing there are other things that you can do to help you sell more items on the eBay platform.

Write some guides and reviews and link to some of the listings you have in your eBay store

  • Write or update some of your custom pages, remember we have 15 of these that we can put to use and drive some extra traffic to our items we have for sale.
  • Update your About Me page
  • Tweak some of your listings and where needed update the older ones.

Yes we all need some down time and walk away from our computers even eBay sellers need down time now and then, so that we can come back refreshed and ready to go. And at times if all you do is go out and have a walk and a meal out this bank holiday you will find that you will be more focused and when you look back you can put a tick and say yes I did profit from bank holiday’s, due to the fact I did no work and recharged my batteries.

eBay is a wonderful business platform as it allows you to have freedom to run your business wherever you are. And yes if tomorrow while you are taking a walk you can have a quick check on your smart phone and see what sales have come in while you have been out and about having a bit of me time.

Whatever you do tomorrow be it product sourcing, research, writing guides or just having some downtime by yourself or with loved ones you will find that when you look at your sales figures a few days or weeks away you will have made a profit from bank holiday’s……..this is the power of selling on sites such as eBay.

Beyond eBay

One question that keeps coming up time after time when I talk with people about selling on sites such as eBay is there other e-commerce platforms out there that they can sell on. Being truthful I tell them there are loads and new ones are being launched each day, but known of them stack up to the power of eBay and Amazon. But there is something else I go through with a client, is the items that they sell, as there are times when some of the smaller platforms do work better for some niches and product categories.

A good example of this is if you are selling in the craft niche and as well as selling on sites such as eBay I would suggest people have a look at a site called etsy.com Etsy is a selling platform for crafter’s, craft supplies and items over 20 years. The site is designed by and for people who like to make items by hand. The concept is the same as other eCommerce platforms but it caters for a whole niche of sellers. Yes you can sell just on this one place but I would suggest listing your items on eBay as well.

Another site which is very well known is Amazon, again same ideas but some of the rules are different and within the Amazon platform model there are several ways of selling your items on the Amazon platform. Again there are a few rules and some of the niches you have to be approved to sell on there, and I would suggest if you sell in one of those areas that you need approval for, you follow the rules they are asking for and then while you are waiting start to sell on good old eBay.

Each country also has it’s own unique e-commerce platforms all catering for separate niches and products, and the best way to find these is to go to Google and type the kind of item you are wanting to sell and then include worlds such e-commerce platform and see what comes up. Over time I am hoping to add a resource here, but this will take time. But if you know of any sites out there please let me know and we will get a list going.

Happy selling, and remember the saying “The grass always looks greener on the other side” now while it may look greener, better and more fun it may not be good for your business. Do your research and see if there is anything beyond eBay for your business model.

Have Royal Mail Priced Themselves Out Of The Market Place ?

Today when I took some last minute parcels up to our local post office I was have a chat with the girl who works there. It was 5.15pm and the Post Office was empty. Our past goes just after 5.30pm. Anyway back to the chat we were having, and I asked her the question, do you think the post office is pricing themselves out of the market place. She laughed and said not really they still offer good rates and are cheaper than all the carriers. I agreed with her to a point, but then pointed out some facts thats she did not know.

One of the parcels I was sending wieghed in at just over 2KG and with the Recorded Delivery fee cost me just under £12.00. Now if I had sent this through Parcel2go.com the same parcel with full tracking not just when it had been signed for would have cost me £7.50. A full £4.50 cheaper, plus they pick up from my home.

So why did I not use them today. Well the main reason was the person did not place the order till after 12 noon and I had missed the Yodel (DHL) cut off point, plus they wanted the item on Saturday if possible. If that had not been the case would have emailed the customer and told them due to the Bank Holiday they would receive the item on Wednesday.

For some of the lighter items Royal Mail is still the best offer around but once the parcel gets to be over 750g then it may be a good idea to start to look around at what the other parcel delivery companies are offer. Apart from picking the items up from your home or business (no more going out in the rain and cold and standing in a queue), you get a full tracking service right from the time you place your order to the time the parcel is delivered so you can see where it is in the country or world. This is a big advantage as both seller and buyer can see where the items are.

So have Royal Mail priced themselves out of the market place for online sellers, for the small items such as CD’s and Dvd’s I do not really think so yet, but for the heavier items over 750g I do believe there are more cost effective ways of sending your items out. But you will need to sit down and do some costings. If you are a small seller then use a company such as parcel2go.com as they have very good rates with all the leading carrier companies out there and then as your business grows and you start to send out hundreds of parcels a week it may be better to go to a carrier direct, but again look around and do those costings. Know your weights and know those prices and if you can send a parcel a cheaper way then do it, and if we all did this then maybe Royal Mail will rethink their prices…………..well we can hope.

eBay For Charity

Do you have a favourite Charity that you like to support, but during these hard times you have had to cut back on giving to ? This is happening all over the UK (and the rest of the world). But how would you like to carry on giving to your favourite charity without it costing you anything extra. Or how would you like to support a charity when you sell items on eBay. Well you can through a program run by eBay called giving works. In fact there are several ways you can help your favourite charity, and we will cover these in several articles.

Today I want to talk about how you can sell the items you are already selling and give some of the proceeds to a charity. To start with you just list your item as normal, and as you work down the listing you will see a tick that says something like give to a charity, you can either choose the eBay chosen charity, or look down the list till you see your favourite charity. Now you choose how much you wish to donate, this can be anything between 10% – 100% of the final sales price.

When the listing goes live your buyers will see a banner like this telling them of the chosen charity and the percentage going to the charity.

 

It has also been shown that the sellers who list their items as a charity listing get more viewers and a high sales price, this makes everyone happy. Once the item sells the seller gets their percentage and the charity is sent theirs. (There is a £1.00 minimum donation.) So let’s say you sell an item and say that you wanted 30% to go to your charity and your item sells for £100.00, you get £70.00 and your charity gets £30.00. Sounds so simple and it is, eBay handles everything.

But it gets even better eBay gives you back a percentage of your basic listing fees and final fees. They do this on a like for like format. Say for example you give 30% to a charity then at the end of the month when you are sent an invoice eBay will deduct 30% of the basic fees and final fees from that one item. They will do this for each item you sell using the eBay for Charity (Mission Fish) format.

So go on and give it a go, you have nothing to lose and just think each time you sell something it will go to a charity and make someone somewhere in the world better off.

 

5 Tips For Living Life Online

 

How many hours a day do you live online ? You might think this is an odd question to ask anyone, but if you are selling on sites such as eBay, Amazon or Etsy to earn a part time or full time business then it may shock you to see how many hours you are spending on line to make a living.

Like many people I turn my computer on when I get up and turn it off as I climb into bed, this is because we need to live our lives attached to the computer. But there are few tips that you can use to help you live a better and safer life online.

Take short breaks every few hours. Get up have a stretch and a walk around and if you can go out side and get some fresh air. Do this a least three times during your working day.

Drink plenty of fluids, this helps you keep your body hydrated. Also drink plenty of fresh water.

Take a proper lunch break and dinner break. If you were at work in an office you would be given times to have meal breaks and other breaks and working for yourself you should still do this.

Try and have some downtime each day, where you walk away from the computer and chill out either on your own, with family or go out with some friends. But just walk away from the computer for an hour or so. Of course if you have auctions finishing at a certain time you may want to work your downtime around these.

Lastly once the computer is turned off and before you head off to bed, write down your to-do list for the next day and place it on your desk, ready for when you wake up. This one tip will cut hours off each working day as you can see what needs to be done straight away and you are not just sitting there, thinking to yourself what shall I do today.

In closing you are your own boss, have fun and enjoy the freedom of working for yourself and having an online business and some days if it is a nice sunny day go out and have some fun – relax and chill, and just re-charge your batteries, and when you start back next day you will have extra energy.

 

Welcome To IWOCA

If you have been in business and are really serious about growing your sales online, there are time when you see a great buy but just don’t have the right money at the right time. This happens to business people all the time from the small start up to the largest international businesses out there. Most people just walk by and leave the deal on the table.

But here in the UK there is a new type of business finance and it is offered by a company called IWOCA. Normal bank finance looks at credit history, how long you have been trading what assets and security you have to offer and then when they hear it is for an eBay business they are not too keen. Even today banks are afraid of the unknown and just do not understand e-commerce and eBay. And another thing they offer long term money solutions, And most businesses just want some short term cash to buy stock, that they can repay in days or a few months.

So welcome to IWOCA. IWOCA (Instant Working Capital) is a very different company and offer eBay sellers short term finance, that let’s sellers have money in a matter of hours once approved. The way Christop and James who have many years in banking set the business up, was to look more at what the seller is doing online and the way they run their business than doing credit checks and going over business plans.

There is a simple form to fill out online where you let them know your eBay Id’s and then they will normally phone you and get to know you as a person and find out more about your eBay business and how it works. They like to get to know the seller and how the business ticks. Once you have been approved the money is fast tracked into your account. You then pay it back over a period of three months at an interest rate agreed by both parties. And if you sell your stock all in one go in the first month or two you can pay your loan from IWOCA staright back without being fined.

If you are looking for some short term finance to buy some stock then check out IWOCA ahttps://www.iwoca.co.uk and see if they can help you and your business expamd to the next level

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