EBay Business Idea

Wondering how to start an eBay business? You’re not alone. Since its inception in 1995, millions of people have joined EBay to buy and sell items.

Pierre Omidyar, a computer programmer, had no idea of the magnitude his experiment would have on internet business.

He wanted to show that an open market that gave information and opportunities could create an efficient marketplace.

One weekend, he set up an online business called Auction House. He put one item up for sale: a broken laser pointer.

To his surprise, a customer contacted him and wanted to buy the pointer for $14.83. It turned out that the customer collected not just laser pointers, but broken laser pointers. Omidyar realized the potential of internet selling, and EBay was born.

Today, EBay is a global online marketplace with more than 84.5 million members worldwide. Anyone with an internet connection can go online and look through more than 50,000 categories to shop, buy or sell.

Because it is an online auction, customers bid for products and the highest bid wins. However, because there are a number of sellers on EBay as well, prices remain competitive.

WHAT DO PEOPLE SELL ON EBAY?

You can find almost anything you want on EBay. Categories include baby gear, antiques, electronics, art, books, clothing, shoes, crafts, musical instruments, movies, books, toys, jewelry, and event tickets.

You can even find businesses for sale and even cars. Items may be new or used, and the sellers make that clear in their descriptions.

HOW TO START AN EBAY BUSINESS

Starting a business on EBay is easy. You need a computer with internet access, a digital camera, and a reliable way to mail products to customers.

Now, what will you focus on how to sell on EBay successfully? It could be something you make yourself, or something that you buy and resell. As with any business, you’ll need to do the research to make sure there is a large enough market for your product. One person may collect broken laser pointers, but will many others?

Become familiar with the EBay website at EBay.com. It is easily navigated, and once you log in you will be guided through the steps for buying or selling.

You can look at the What’s Hot page to get an idea of some of the best sellers. Also look in your local stores and read the business sections in newspapers to stay on top of trends.

Next, determine your price. Although it is an auction, if your price is too high you won’t get customers. Do your research and determine a fair price. Be sure to include shipping expenses.

Develop a clear description of your item using keywords and include the item size and condition. Take a picture of the item with your digital camera and download this into the description as well. This will give customers a better idea of the item.

Respond to customers promptly to build trust and increase customer satisfaction.

Finally, once the auction is closed and you have a buyer, send the item promptly. Contact the U.S. Postal Service for ideas on how to streamline your mailing from home.

Buyers are invited to evaluate the seller, so the more satisfied customers you have, the better you will look to other potential customers.

With a great idea and a useful product, you can exponentially increase your market by having learnt how to start an EBay business.

Read more >>

Affiliate Marketing Business Idea

Starting an affiliate marketing business is not a way to get rich quick. It is a business with a high potential profit, however, if you work hard and learn expert sales techniques. Like any other business, affiliate marketing requires sound decision making and intelligent planning.

There is no magic formula for making profits with affiliate marketing. Becoming a successful affiliate marketing entrepreneur is challenging, but it can be profitable. Belief in your products and a willingness to serve your customers will be the most important keys to success.

STARTING AN AFFILIATE MARKETING BUSINESS

Affiliate marketing is not a business that should be jumped into without preparation. Careful research into affiliate marketing programs will be required. Not all affiliate marketing programs have the potential for success. Some disappear just a few days after launch.

With careful planning, however, it is possible to make a second income and, in some cases, a full time income by starting an affiliate marketing business.

Some advantages of an affiliate marketing business are:

1. Most affiliate marketing programs require a relatively small investment:Most assist you in setting up a website and promoting the product through emails, advertisements, and directory listings.
2. No need to handle products: The affiliate marketer is selling products on the behalf of a third party. There is no inventory to maintain and no need to keep track of product shipment.
3. There is no limit to income: The more innovative the marketer is, the more they earn through commissions on affiliate marketing sales.
4. The work can be done from home: Affiliate marketing is the ideal business to run from home.

Affiliate marketing programs can be confusing. Many programs make claims of overnight riches and instant wealth. Careful consideration must go into your decision about which program to choose. In truth, affiliate marketing is like any other business. Success depends on the quality of the product and the entrepreneur who sells it.

FINDING SUCCESS AS AN AFFILIATE MARKETER

Hard work, dedication, and out of the box thinking are needed for succeeding in the affiliate marketing business.

Below are some of the strategies used by successful marketers:

• Doing their homework: The most successful affiliate marketers are people who laid the proper groundwork before starting the business. They planned every aspect of the business down to the last detail. They researched the various affiliate programs and chose to work only with those promoted by reputable companies.
• Being independent: Successful entrepreneurs know that determination and hard work is as important in affiliate marketing as it is in any other sales environment.
• Planning the company finances: The best affiliate marketers follow a sound financial plan to ensure success. Money must be set aside for marketing costs, such as printed advertising material, web site development, and product samples.

EXPANDING YOUR AFFILIATE MARKETING BUSINESS

Most successful marketers started slowly and took the time to learn about their customers while perfecting their sales techniques. As they became more skilled, many expanded their offerings to other product lines. Related products are ideal because they give you additional products to offer your current customer base.

Starting an affiliate marketing business can be highly profitable as long as you make wise decisions, have passion, and possess the drive to make it work.

Read more >>