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Successful eBay Selling Tips

Living the lifestyle that breeds auction success

This special guest article by Jim Cockrum, author of the all-time top-selling ebook about selling on eBay, "The Silent Sales Machine Hiding on eBay."

In this article, Jim reveals eBay selling tips for developing the habits that successful sellers display.

Six habits of highly effective eBay sellers

You've likely heard of Stephen Covey's best seller 'The Seven Habits of Highly Effective People'.

In this article I've taken some of Stephen's concepts and mixed them in with my own ideas to create what I've observed as six key habits of highly successful eBay sellers.

Even if you don't have an eBay business you can benefit from these ideas.

HABIT ONE: They know if they are making money or not

Believe it or not there are MANY sellers on eBay who are simply breaking even or (gasp) losing money. They don't add up the true cost of doing business on eBay and they struggle making good decisions.

Except under unusual circumstances I don't like to sell anything on eBay that I can't make at least a 30% profit on and clear $25 total profit after all fees. Keep your bottom line in mind or you'll end up 'spinning your wheels' on eBay. Do I suggest the same thresholds for you? Absolutely not - you decide where your limits are, but stick to them to maintain focus and ensure profits.

HABIT TWO: They are mindful of the potential to gain customers and website visitor BEYOND a single auction

This newsletter you are now reading goes out to over 79,000 readers. About three years ago I had ZERO readers. How did that happen??? The answer is quite simple. I paid attention to what my customers wanted and I provided it to them. Do the same with your eBay business.

Step one: GROW YOUR MAILING LIST

Step two: ASK THEM WHAT THEY WANT

Step three: GIVE IT TO THEM

Sending emails remains the easiest, CHEAPEST, and most effective marketing tool ever invented. USE EMAIL AS A TOOL!

Here's an example of what I'm talking about:

Every time I send an email or reply to an email from a customer I include a message that invites the customer to join my mailing list. I make the offer enticing and my list grows.

EBay policy DOES NOT allow you to contact your bidders for the sole purpose of asking them to join your list, but as long as the invitation to join ISN'T the MAIN POINT of the email you are safe!

I spend a lot of time on this topic in the book 'The Silent Sales Machine Hiding on eBay'. Get it here: http://www.OneStopWebSupport.com/ssm

To stay current on eBay's SPAM policy visit:
http://pages.ebay.com/help/policies/rfe-spam-general.html

HABIT THREE: They are constantly learning, staying up to date, and changing directions when necessary

Example:

One of the first products I used to sell on eBay brought me a tidy little sum of $200-$300 per week profit without much effort. It was fun, but I noticed the competition level was slowly growing. It was getting a little harder to make the same payoff. Paying attention to this trend paid off. I shifted focus and found even MORE success with LESS effort as a result. The full story of this business transition (including what product I was selling) is in my book 'The Silent Sales Machine' if you haven't read it yet.

Four years later several of the eBay sellers who used to be my competitors are still plugging away doing the same things they used to do with slightly less success. I on the other hand, am making a LOT more money doing several new things with my eBay business.

One of the advantages of being a small business is that you can change direction quickly. Imagine if a huge toy store chain decided they wanted to begin selling only pet supplies. That's an impossible transition. It's far simpler for the 'small' guys to shift direction. Stay informed and shift directions often. Your customers will give you the clues - just follow them.

HABIT FOUR: They keep their eye on the big picture

As a follow up to HABIT THREE above let's talk 'big picture'.

Your long term business plan with eBay and your online business should include:

• Having a website that complements your eBay business
• Having a full-time income with a part-time effort from your online/eBay business. You will want to take vacations!
• Having and constantly growing your customer mailing list

Don't get so caught up selling widgets at 10% profit that you wake up one day out of widgets with no 'big picture' business plan!

HABIT FIVE: They are seeking partners, not just customers and suppliers

This is sometimes called creating 'win/win' relationships.

YOUR SUPPLIERS:

Do joint ventures with your suppliers.

I talked a lot about joint ventures (JV's) in article two of this old newsletter:

LINK: http://www.silentsalesmachine.com/newsletter/072803.html

YOUR CUSTOMERS:

Treat your customers the way you'd treat family. Convince your customer that you truly want them happy, successful, and satisfied. In nearly every issue of this newsletter I include material given to me by one of my past customers. Habit number one above includes a link to a guy who has been a long term reader of my newsletter and counts my advice as part of his motivation for success. I love helping to make a success story out of motivated people!

More examples:

• Partner with powersellers to help them tap into the back end of their online auction leads (buying and non-buying leads!)
• Create win-win situations for your customers by being genuinely concerned about their success. Follow up with them two weeks after they pay to make sure they got everything O.K. and they are happy. Ask them to join your mailing list!

HABIT SIX: Have a goal in mind

Always be asking, 'Why am I doing to what I am doing now?'

What is the end game? For me it was staying home, working part time, and earning $XXXX per year. Trust me - $XXXX represents a VERY nice dollar figure. Making the kind of money I wanted to make while working only part-time would be IMPOSSIBLE at ANY corporate job. I have no friends working 9-5 that earn half of what I do working VERY part-time. That's not bragging - it's just fact.

It's been nearly two years since I achieved my goal and the income just keeps getting better.

What's your goal? Write it down and start doing what it takes to achieve it.

The first time I ran this article almost a year ago one of my un-achieved goals was to be listed as a success story in Corey Rudl's 'Secrets to Their Success' newsletter. Last month, September 2004, I was the features success story in this prestigious newsletter. Link:

http://www.silentsalesmachine.com/freestories.html

Jim Cockrum
Author-"The Silent Sales Machine Hiding on eBay"
and "Turn Auction Traffic into Cash"

Editor-"Creative eBay Selling Newsletter"
The most popular free eBay success ezine on the web!

Click the links below to discover even more great insights and strategies from Jim Cockrum

Silent Sales Machine Hiding on eBay

Turn Auction Traffic Into Cash

A Part-Time Plan for Massive Success Using eBay and the Internet

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