Be Methodical

As I look back over the last 12 years, I can recall certain memories of selling and learning.  I remember trying to figure out what niche to sell in, and wondering how people found their inventory.  Most of that time I sold computer parts, with some occasional vintage toys.  The problem was I couldn't find reliable sources that were cheap enough to make consistent sales.  I never really thought about huge numbers of inventory.  I was focused on trying to find items that would sell, and sell quickly.

Now that I have a large store (over 1,000 items), I can see where my thought process was flawed.  I was approaching the business completely wrong.  I was so intent on finding home runs that I completely passed over bread and butter items.  It was something I had not thought of, and back then there was no facebook or youtube to do research with.  You bought something and hoped it sold.

Now that social media is dominating the landscape, people have an enormous set of resources to do the research.  If you watch enough videos and participate in facebook groups, eventually you will weed out the chaff and find those gems worth looking for.  Unfortunately, this has also bred a new form of seller.  These sellers no longer do the research required to be a successful, long term seller.  They rely on others to do the work for them.  The problem with this is they never earn the knowledge and therefore don't grasp the longevity concept.

I belong to a lot of facebook groups.  I try to be helpful with new sellers, but too often I see people asking simple questions that a quick google search would provide the answers.  I also see new sellers chomping at the bit to list a ton of items as quickly as they can without doing the homework.  This is what causes the prices of great items to bottom out.  They invest a lot of money, and don't understand the sales cycle.  When sales slow down, the first thing they do is drop prices or run sales thinking their pricing is the issue.  It's not, it's just how ebay works or any other retail business for that matter.

The key to being consistent on ebay is to not give in when things slow down.  Instead of worrying about sales, take the slow time to list even more.  That way when sales pick up again you will have an even bigger increase due to the large amount of inventory.  Try and have items ending every single day, even if it is one item.  This more than anything will help you get those consistent sales.  The last thing you want to do is panic.  When you do you leave money on the table, and in some cases may lose money.

Be methodical in your listing.  Do research and don't rely on others to do it for you.  Knowledge that ins't earned will eventually lead to failure.  Too often I see people post in facebook groups things like "should I buy this"?  Or "what price should I ask for this"?  Why take someone else's word for it?  Why list something for $20 because someone told you to when a little research may show your particular item would sell for double that?  Set your price that YOU want to get for your item.  Some items take longer to sell than others, so don't panic because it's been 20 days and it hasn't sold.  I have had items take over a year to sell, but I did get the price I wanted.

Facebook groups are a great resource for networking with other sellers.  It gives you a chance to talk to other people who understand what you are doing.  It can be a great support system.  But it can also get you into trouble if you rely on them for your research.  Sooner or later someone is going to give you bad advice.  Unless you have done the research, you won't know until it is too late.  Additionally, if you are a new seller and are constantly asking simple questions you will alienate the experienced sellers and they will stop helping you.  Most experienced sellers want newbies to show they are willing to put in the effort.  Nobody likes a leech, and acting like one will not earn you any friends or respect in these groups.

Be smart, be methodical and earn the knowledge.  Some day you will have the opportunity to share your knowledge.  When that day arrives, you will inevitably run into the hand holding seller and will understand what I am saying.