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10 Free Business Resources I Wish I'd Known About When I Started Out
The impression that you need large sums of money to set up a successful (and profitable) website is totally wrong. Indeed, the longer that I do business on the Internet the more I find that there are numerous free resources out there that can be...
Ethical Link Exchange, You be the judge....
Webmasters understand that quality and relevant inbound links can increase site visibility; your search engine rating; and with any luck increase your traffic and revenue.
While working to locate relevant links for our site, we discovered a...
How To Use RSS Feeds In Your Marketing
It was Friday night. I finished reading a book about RSS feeds. Quickly set up one for my site, submitted it on directories and went to bed.
Sunday morning, I noticed a sale. Idly, I scanned my logs to see where the buyer had found me.
...
Public Domain Works Marketing Made Easy
Using public domain works to make money is certainly a good idea; however public domain works marketing might have you a bit confused. To understand how to both make money and market public domain works, you will want to understand what public...
The Importance of Having Your Domain Name
Copyright 2005 Sumantra Roy
A question that I frequently hear is "Do I really need to have
my own domain name?" The one word answer is "YES.". If you put
up your site with some of the free web hosting services, the
only company who benefits...
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Why It's a BAD Idea To Promote Hot Selling Products on eBay
Copyright 2005 Alexis Dawes
Do a quick search on Google, Yahoo, or your favorite auction resource site, and you'll quickly discover there are several software programs targeted to vendors who want to promote hot selling products on eBay.
The infatuation with hot selling products exists because sellers believe if you target items that have a robust sales pattern, you'll have a better chance at profiting on eBay. This is both true and false.
Yes... hot selling products can improve your bottom line. But unfortunately by the time the average eBay seller (a) realizes what the hot selling products are, (b) purchases stock to sell on eBay, and (c) actually puts the items up for sale, the demand is already being met by other eBay sellers who probably started the hot selling product trend some time ago.
Not only that, with thousands of people also having access to the same hot selling product lists, you'll have to contend with other eBay vendors who have the exact same ideas that you do. So you'll be up against the original sellers who are currently feeding the demand, AND doing the tango with newer sellers who have jumped on the same hot selling product bandwagon that you did.
Okay maybe this won't happen to you.
But suppose it does.
What if competition becomes so great that prices start dipping below the wholesale cost that you paid for the item? (It happens all the time on eBay.) And what if you lose $100, $200, or even $1,000 on inventory that you thought would be flying off the shelf? Suddenly that hot selling item is looking rather cold sitting in your garage collecting dust.
So if not hot selling products on eBay, then what?
Do what the majority of PowerSellers do.
Sell what you want, instead of what's hot. Repeat after me, "Every day ordinary items sell extremely well on eBay... Every day ordinary items sell extremely well on eBay... Every day ordinary items sell extremely well on eBay." Allow this to become your mantra, because it is very much true.
I know this from first-hand experience as I analyze top sellers instead of hot products. And my research has continuously shown me that mediocre products don't necessarily translate into mediocre sales.
For instance, there's a seller right now who clears about $1,000-$2,000 a week selling magnets. And that's AFTER eBay and PayPal fee's. Another seller promotes homemade CD's to a specific audience and clears $900-$2,000 a week. A few sellers make $500-$700+ a week - after expenses - promoting public domain information. And the cool thing about public domain information is that anybody can sell it because it's free. So that's pure profit by selling something they never paid for. Talk about the ultimate arbitrage opportunity!
The ultimate key in succeeding no matter what product you end up selling, is to build a successful strategy. To figure out 'how' to profitably market what you have, instead of chasing after the next great thing. Because once you have the strategy part down, you can sell anything on eBay and make it a hot seller to your bank account.
Alexis Dawes is a student of eBay sales strategies, instead of hot selling products. She's the developer behind Auction Seller Analyzer, a Windows-based application that inspects eBay sellers auctions to determine the winning strategies they're using. You can get more information about Auction Seller Analyzer at (http://www.AuctionSellerAnalyzer.com).
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