Passion And Profits

One of the big things I see when consultant with an eBay client is Passion And Profits and how one can effect the other. But sadly very often the client has no idea that this passion is effecting their business. And if it is not caught soon enough, the passion can and will kill their business. This passion and profits does not just effect online business it can and does effect offline business as well.

So What do I mean by the words passion and profits ? In simple terms when people start to sell online they sell a product or product line that they like and know, and while this is good, you may have a problem where you have fallen in love with the product, and this has put blinkers on you that has blinded you to the profit potential. For example you may have a passion for 8 track recorders. Now while these do sell on eBay on a regular basis, and they often sell for high prices, can you build a long term business around this product – No you can not. What you can do is build a niche business that will bring you some money in, and at the same time you are selling a product line that you have a passion for. But this passion will not make you rich.

In business you always need to do research and test, and often look beyond the passion for an item. It may mean selling a different in the same niche or it could even mean a complete mind shift away from the passion product to an item that does not do much for you, but makes you money. In business you should only sell items that you feel Ok with. You should never sell an item just for the money if you feel embarrassed about selling it. A good feel about this is would you be Ok gond on national TV and telling the world you sell this product .

In closing it is also good to remember this passion and profit story with all products you sell. You may have been selling a product line for many years, but over time the sales have dropped down to one a week. Yes you make a nice profit on each one you sell, but when you run out of stock you have to invest in hundreds of these items costing you a lot of money, that is tied up in stock. So just remember watch your profits, and make sure you watch the passion you have for the items you sell. Get passion and profits in right order and you will make money.

Andrew Milburn and My Auction Empires offer eBay Training and Consulting in the Lichfield Staffordshire Area.