How to Start a eBay Business
We believe in helping others achieve their ebusiness goals. We will give you tips and tactics, that you can use in your e-Bay business. All of these tips, are proven to be successful. Here is a great quote I learned from a workshop I took. "If you don't manage yourself you can't manage your business, if you cant manage your business you won't be in business"
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The First Step
Brainstorm your ideas, and put them on paper. I recommend keeping a daily business journal of sorts. This way you can plan what you need to accomplish each and every day. Not to mention keep track of any ideas that pop into your head during the day. Don't forget to do a daily recap at the end of the day, to analyze your self and your productivity. This is a great tool to help you with time management.
All successful e-business starts from an idea, and bloom that idea so to speak. No better way to take a course of action on that ideal is a Business Plan. A business plan should cover: Objectives - Approach - Resources Needed - Marketing Plan - Marketing Strategy - Short Term & long Term Goals - How to Find Products - A budget.
Its always a good idea to read over your business plan quarterly. This way you can track your achievement and see what area you could use some improvement in.
Second Step
In order to be a successful e-commerce business, you must be legit. Meaning you need to get a state sales tax id, This sounds scary but its not. Just spend about 10 minuets and you'll get your tax-id.
Next we would recommend getting a Federal Tax ID or a EIN Number, setting up the basics now, will save lots of time and headaches in the future.
In most case you will need to, have a legit business name set up, a sole proprietor, corporation, etc. An attorney should be able to set this up for you for about $200 plus any state fees. Not to mention a state retail license certificate, this is another simple process, just check out you local state website for information on this. Some Wholesale Companies will not work with you without the above listed numbers, and certificates. Setting up a business isn't that hard but make sure you do it right the first time. Once you have all these set up you'll be able to get a Business bank account, and a Business Credit Line. Please Refer To Our Business Set Up Checklist
Step 3
Organize yourself, set your office up. Get your computer up and running install additional software that you might need to run your business. (Quicken Books will Save You Lots of Time Here) Set up a Website, this is a MUST, educate yourself, there are lots of great books on this topic. Your website is an impression on your business so take your time. Remember keep it simple, make it so people can find what they want easily.
For eBay Businesses and other on-line sites, a nice photo area would be good to set up, something with a couple different backgrounds. Don't spend big dollars here, you can get a Photo Cube / Deflector for around $50.00. I would recommend a nice photo editing software, Mac & Windows users should have a program already installed. A print-shop program will also be helpful, it creates great flyer's, banners, business cards etc. (Remember support the fellow e-commerce websites and buy your stuff on-line) You can find everything you need on eBay.
Look into getting business insurance as well, as you'll never know when this might come in handy. Don't forget to get a phone service. Don't use your cellphone, I suggest getting a separate line. This way you always know the call is about business, and you can track and monitor the calls.
Step Four
You will need products to sell. I know this can be very tricky, don't go and spend big dollars on so called wholesale list. If you look on the net, you'll find thousands of so called list. Be careful where you get your information from, do your homework before you dive right in and spend lots of $$. This step might not apply to you if your setting up a consignment store, and don't want to buy wholesale. If consignment is your choice you need to focus more on advertising!
I recommend selling items that for say you might buy yourself. It makes running a business more enjoyable when the products you are selling you are passionate about. Not to mention these will be items you know a lot about. So you'll be able to be an expert (so to speak) and have a better chance of selling the products. (Its hard to sell a Culinary Knife to a Chef if you don't know what you are talking about ex.)
I recommend Brainstorming on this one: meaning write down your hobbies and what you like. Then take it one step further and make subcategories (ex. You like Major League Baseball - Sub Category would be Baseball Cards - Another Category would be 1950's Topps Baseball Cards) It might be hard to find a constant supply of 1950's baseball cards to sell, but you get the idea. Please refer to my free: wholesale, and drop-shipping list.
Step Five
Advertising, Marketing these two words go hand in hand. You need to let the world know who you are. Your website is a great start, its the door-mate so to speak of your business. It doesn't hurt to do some pay per clicks, through google to get people to your site. Doing a press release through yahoo is a another great idea, is cost $80, but will get you notice in the community and on the web! Another key point is to identify your target audience. This way you can develop a marketing strategy base on your target audience. (does your target audience use public transportation, if so advertise on papers the consumers read on public transportation, signs are great as well)
Advertise in local papers, not the big one. Starting a small business can be costly, but if you manage budget you'll be just fine. Don't run out and market in the big papers just yet, they cost general 50% to 75% more than the local free papers. (ex. in Chicago it Cost $63 to place an add in the Chicago Tribune, for one week, and Cost $28 to place the in the Chicago Reader a local free paper) Another free tip is, community bulletin boards, yes people actually read these!
