6 Steps to a Successful Online Auction Business
Going once, going twice: Online auctions make it easier than ever to sell products online. So what are you waiting for?
|
If you talk to just one eBay business owner in your lifetime,
you'll be instantly infused with his infectious joy at finding
he could start a successful business using the ubiquitous auction
service. Now multiply that excitement by about 5,400, and you may
come close to understanding the pervasive--almost
evangelical--energy that ran rampant through this June's eBay
Live!, the first-ever eBay convention that took place in
California. Prospective eBay sellers and current Shooting Stars (a
distinction awarded at certain levels of feedback) mingled with
eBay staff members and suppliers like FedEx and AuctionWatch.com;
maniacally collected the trading cards eBay produced for the event
(for later auctions, of course); attended classes like Basic
Selling and Customer Support; and perused the areas set up for
specific eBay categories like Motors and Media. Why did 5,400 people travel--many crossing distances of
thousands of miles--just to mingle? Why are successful business
owners so gushingly positive about their eBay experiences? The main
reason: It's almost too easy. Anyone can sell something on
eBay. You don't need a storefront; HTML skills, though handy,
aren't required; and you don't need a merchant account to
accept payments. You really don't need anything but a computer,
an Internet connection, a printer and a digital camera. And with
more than 420 million items up for auction and gross merchandise
sales averaging $38 million a day in 2001, you know
there's an audience out there for products. But there is a difference between a part-time amateur seller and
a successful business owner. If you aspire to become a Power Seller
and really make this a successful, full-time business, you've
got to get serious and treat it like a business. You need to
understand the profit margins on your products. You have to
appreciate the importance of customer support. You'll need to
look at every aspect of your process as you grow to discover where
you can streamline to save money and time and improve the way you
serve your bidders. Content Continues Below
So start out right. Do your research to decide if an auction
site is the right place for your new business. In this article,
we're primarily focusing on eBay--not because it's our
favorite, but because it is the industry leader, and many auction
maxims, like the importance of customer service, are universal.
There are other options to choose from--Yahoo! Auctions, Amazon.com
Auctions and uBid are just a few--so before you begin, do some
research to truly find your perfect home. And now, read on for the
6 steps to starting an online auction business.
Originally published in the September 2002 issue of HomeOfficeMag.com
|
What makes a good client gift?
What guidelines do you follow when buying gifts for your clients? Have you ever received an unusual or inappropriate gift?
|