eBay enchants many aspiring entrepreneurs. Thanks to this popular auction website, many have raked in the mullah and set up successful businesses. eBay presents a whole new world of moneymaking prospects. But how do you get started?
First thing’s first. Log on to www.ebay.com and browse around the site. Hit all the buttons to know about its various features. The eBay Learning Center is a wonderful tool, which offers free audio tours and online tutorials. eBay University, which holds its sessions on weekends, is also recommended for beginners. Check out if they are holding a session in your locality. The university has two courses: ‘Selling Basics’ and ‘Beyond the Basics’. The former is teaches you the basics, while the latter is a more advanced once and gives tips and tricks to experienced sellers.
Creating an account with eBay is free. So sign up and hit it big on eBay! Setting up a Seller’s Account is simple process. It includes providing eBay with sufficient information to verify your identity and your preferred method of paying seller fees. Once you get a hang of the features, you can start selling on eBay.
Decide if you want to go full-time or part time. Figure out if you want to work from your home or want to set up a commercial location. Depending on the amount of business, one can also have employees. You also need to decide whether you want to be an eBay PowerSeller or a Trading Assistant. What you intend to sell also needs to be decided carefully.
One can operate within auction-style listings, sell items at a fixed price, or open an eBay Store. An eBay Store provides a consistent location for your listings. It is a useful place where you can sell add-on merchandise.
An important aspect on eBay is the “About Me” page, a free feature that enables you to promote your business. Watch out for new eBay feature announcements. eBay constantly changes and enhances its features and services. So keep an eye on your competition.
Get started in a formal way. Having an employer identification number is advisable for it recognizes you as a businessman. Apply for a business name and you are all set to make money on eBay. This also makes it convenient to pay your income taxes and records are more organized. Have a proper business plan, if you are serious about striking it big on eBay. Look at the right set of people who can provide proper advice on your business plan. Seeking help from other businessmen can be a good idea.
Get a bank account dedicated to your transactions on eBay. This way the business is properly organized and helps you keep track of your earnings on eBay. A professional can be hired in case you are not good at keeping your books. This way all your papers are in order and you will avoid any fine, which may affect both your budget and the credibility of your business.
So, go and get started!
Want to learn more? Edson Buchanan is an eBay PowerSeller and trades on eBay under the username digitaldirect4u. He earns $1000s every month selling digital products on eBay. To learn more about starting your own eBay Business visit:Auction Income Formula – Your Own eBay(R) Business.