In the midst of the plethora of eBay get rich quick schemes there is a host of successful sellers turning a substantial and sustainable profit with the help of the venerable auction giant.
While the get rich quick proponents tout what to sell and how to turn it around quickly, the majority of successful eBay business start at a more basic level, with a business plan and a long-term goal of success.
Before deciding to take the plunge and create an online business it is wise to understand the concepts of business itself. Many companies with excellent products have fallen by the wayside due to a lack of understanding of their market and venue.
To succeed on eBay, one of the most important things to understand is the eBay Sales Model. A grasp of the flow of business is crucial in order to maintain a successful enterprise, be it on the web or in the brick and mortar world.
The eBay Sales Model
The eBay Sales Model consists of seven distinct stages, following the life of each transaction from beginning to end:
Sourcing/Creating - The 'what to sell' or first stage of the model is actually one of the last things you should consider. Understanding the business first is key, products and services will come later.
Pricing - Choosing the proper balance of competitive pricing and profitability
Listing - The art of listing is key to a solid eBay business. Learning how to draw that first important click and hold the customers interest is one of the most important thing an aspiring seller can learn.
Collecting - Getting paid is the seller's favorite step in the sales model. Learning what payment methods to accept and the problems with each can spell success or disaster for the professional seller.
Communicating - Good communication with customers is vital for maintaining a good reputation (feedback level).
Delivering - UPS, USPS, Fedex and others will deliver the product but are just the beginning of the delivery phase. A good seller must know more about delivery than just the when and where.
Followup/Support After the Sale - Strong customer service skills are crucial. A seller must be able to turn a sour transaction into a success story.
With a strong background in the eBay Sales Model, sellers can cope with any situation and build a business that will go far beyond earning a quick buck.
For a more detailed view of the eBay Sales Model and an in-depth study into building a successful business on eBay, read the book eBay Smart: Building a Real eBay Business by Going Beyond the Get Rich Quick Game, available at Amazon or by visiting Kevin Peterson.NET
