Secrets of the eBay Millionaires Inside Success Stories -- and Proven Money-Making Tips -- from eBay’s Greatest Sellers

by Holden, Greg

• ISBN13: 9780072262520
• ISBN10: 0072262524
• Edition: 1st
• Format: Paperback
• Copyright: 2005-12-12
• Publisher: McGraw-Hill Education

Summary

Secrets to high-volume, high-profit sales from the most successful sellers on eBaySecrets of the eBay Millionairesreveals the inside stories behind eBay's most successful sellersincluding those in the Professional eBay Seller's Association, who together make more than $1 billion annually on eBay. For the first time in one volume, aspiring PowerSellers will get hundreds of undocumented tips and tricks on building a strong eBay business and maximizing sales and profits. Readers will learn to develop a business plan, identify market need, promote their products, build a solid reputation, and more. The sellers profiled represent the major eBay categories, including computers and software, consumer electronics, books, movies, music, collectibles, jewelry, and B-to-B merchandise. Various business models are examined, such as hobbyist-turned-entrepreneur and brick-and-mortar businesses brought online. Readers are sure to find sellers with whom they can identify.

Author Biography

Greg Holden is the author of 16 books, including the best-selling How to Do Everything with Your eBay Business, which has sold more than 35,000 copies.

Table of Contents

Acknowledgments	xi
Introduction	xi
From Penniless to PowerSeller: Carving Out a Niche	1	(26)
Trying to Do One Thing Well: Entertainment House	2	(2)
``Being Broke Is a Great Incentive''	3	(1)
``From Small Things, Big Things Grow''	3	(1)
How Phil Leahy Chose an Area of Specialty	4	(9)
``I Knew I Had to Work 16-Hour Days . . .''	6	(1)
``Staff Training Is Critical''	7	(1)
``We Are Going to Do Everything We Can to Cultivate Customers''	8	(1)
``Don't Try to Do What Everyone Else Does''	9	(2)
Sell Something You Can Supply	11	(2)
Finding a Competitive Edge: NYC Designs For Less	13	(14)
How Lori Baboulis Undercut the Competition	15	(1)
``Finding Inventory Is the Hardest Part of Selling on eBay''	15	(3)
``eBay Stores Encourage Repeat Buyers''	18	(3)
Selling at High Volume for Big Profits: Sew VacDirect	21	(1)
Providing Personal Customer Service: Abovethemall	22	(2)
Setting Out to Corner the Market: Blueberry Boutique	24	(1)
Lessons Learned in This Chapter	25	(2)
Establishing Your Identity: Your Mission and Your Web Presence	27	(24)
Pursuing a Mission: Shiana.com	28	(13)
``The Human Touch Makes This Type of Silverwork Unique''	29	(1)
``We Want to Help Our Friends to Thrive on Their Own''	29	(4)
``eBay Gave Us Exposure to Customers Around the World''	33	(1)
``We're Such a Small Army''	33	(2)
``Our eBay Sales Market Our Web Site, Not the Other Way Around''	35	(4)
``We Wanted to Let People Know More About What Happens''	39	(2)
Promoting a Business Ethic: National Powersports Distributors	41	(10)
``On eBay, We Can Make a Substantial Return on Our Investment''	42	(2)
``I Set Out from the Beginning to Build a Business''	44	(1)
``We Have a Core Philosophy: Tell the Truth''	44	(3)
``You Don't Have to Sell Something: Just Make It Available''	47	(1)
``eBay Can Put a Motorcycle in Front of 2,000 People a Week''	47	(1)
``The More People Become Comfortable With Us, the More Profits Go Up''	48	(1)
Lessons Learned in This Chapter	48	(3)
Connect with Your Customers	51	(22)
High Profits, Low Volume Equal Success: White Mountain Trading Company	52	(9)
``If You're Going to Sell for a Living, You Might As Well Sell Something Expensive''	53	(1)
``You Pretty Much Have the World at Your Doorstep''	54	(4)
``Instead of Building a $60,000 Web Site, We Bought Inventory''	58	(1)
``Thirty Percent of Our Customers Make Another Purchase from Us''	59	(1)
``It's Still Dynamic, It's Still Exciting''	60	(1)
Interpersonal Skills Connect with Medical Buyers: Ready Medical	61	(12)
``I Work the Chick Factor''	63	(3)
``In One Place We Have an Upholsterer, a Painter, and We Store Our Own Equipment''	66	(2)
``It's Like Gambling: It's All About the Action''	68	(2)
``Let Your Customers Think They're Your World''	70	(1)
Lessons Learned in This Chapter	70	(3)
Think and Act Like a Businessperson	73	(22)
Planning for Success: Sands-o-Time	74	(7)
``It Helps to Have a Formal Business Plan''	75	(1)
``I Built Up a Huge Reference Library---Anything and Everything I Could Get My Hands On''	76	(2)
How Melissa Sands Takes Advantage of Multiple Sales Venues	78	(3)
Roll Up Your Sleeves, Put In Long Hours: Alan Warshauer	81	(14)
``I'm Always Looking for New Products''	82	(1)
``They Are All Being Made in China''	83	(4)
``Most of the Profit Is in the Shipping and Handling''	87	(2)
``I Don't Put Much Stock in Being a PowerSeller''	89	(1)
``I Average 1,000 to 1,500 E-Mails a Day. I Go Through Them Real Quick.''	90	(2)
``It's Become Too Difficult to Manage by Myself''	92	(1)
Lessons Learned in This Chapter	92	(3)
Identify Sources of Merchandise	95	(18)
Turning a Wholesale Business Public: Robert Zanger	96	(10)
``You Get an Item You Have a Lot of, and You Keep Relisting It''	97	(4)
``People Call Me to Say, `Are You for Real?'''	101	(1)
``It's Easier to Sell a Suit on eBay Than Through My Store''	101	(2)
Hiring a Designer: ``A One-Time Expense Yields Rewards for Years to Come''	103	(3)
Seek Out New Products and New Suppliers: MemoryQueens.com	106	(7)
``We're Always Looking: It's All About the Research''	106	(1)
``There's a Level of Trust with Family That You Don't Have with Other People''	107	(1)
``I Have Been Searching High and Low for Trade Shows''	108	(2)
``You Have Cash Outlays Just Like Any Other Business''	110	(2)
Lessons Learned in This Chapter	112	(1)
Reach the Widest Possible Audience	113	(20)
Franchising eBay for Maximum Market Share: Auction Safari	114	(9)
``There's So Much Learning and Collaboration'': Teaming with Experienced Sellers	116	(2)
``The Name of the Game Is: How Do You Drive Shoppers to Your Store?''	118	(1)
The Keyword's the Thing	119	(2)
``Partner with Shopping Engines to Pull People into Your eBay Store''	121	(1)
``We're Going to Be Working More with Retailers''	122	(1)
Reaching Out to Customers Around the World: Tony Cicalese	123	(10)
``Buying CDs from My Van with My Kitty Was a Great Opportunity''	124	(1)
``I Thought Using My Business to Raise Money Was a Good Idea''	125	(1)
``Is Tony a Mental Case?'': Using Humor and Personality Sells	126	(1)
``I Want to Be Seen as Approachable, Friendly, and Fun''	127	(3)
Reaching Overseas Buyers	130	(1)
Lessons Learned in This Chapter	131	(2)
Diversity Your Business Presence	133	(24)
From Wholesaler to eBay Mogul: David Hardin	134	(6)
``All of a Sudden a Light Went On'': Shoetime	135	(1)
From Shoes to Fashion: Fashion Outlet Mall	135	(3)
``I Went from Shoe Salesman to Software Developer''	138	(1)
``If You've Got a Computer and a High-Speed Internet Connection, You Can Do This Out of Your Home'': eSAVz	138	(2)
Open a Brick-and-Mortar Store: Ellen Navarro and Amy Mayer	140	(17)
``We Decided That This Is a Destination Business''	141	(1)
``People Get Caught Up in the Romance of Selling on eBay, and They Don't Do the Business Projections''	142	(3)
``I Am Selling More and More Machines Lately''	145	(3)
``If One of Us Didn't Get Yelled At, It Wouldn't Be a Normal Day''	148	(1)
``We Compare Our Business to a Dry Cleaner---People Choose the Place with the Best Service''	149	(6)
Lessons Learned in This Chapter	155	(2)
Provide Instant and Personalized Service	157	(22)
Where Customer Service Is the Most Important Product: Abovethemall	158	(15)
``Take the Good from the Good Sellers and Make It Your Own''	160	(1)
``I Want People to Know That They're Dealing with an Individual''	161	(5)
``It's Hard to Sell Items If People Can't See a Good Picture of Them''	166	(4)
Make Your Descriptions Do the Selling	170	(1)
``I Want Buyers to Know My Name and Phone Number''	171	(1)
``Don't Forget Where You Came From''	172	(1)
``Keep the Stress Away from Your Family''	172	(1)
He's Got the Key to Finding Buyers in eBay Motors	173	(6)
``eBay Took Us in a Direction We Didn't Plan to Go''	173	(2)
Key to Fast Shipping: ``Location, Location, Location''	175	(2)
Finding the Right Selling Tool: ``It's the Holy Grail''	177	(1)
``It's Harder to Start a New Business Now''	177	(1)
Lessons Learned in This Chapter	178	(1)
Build a Good Reputation	179	(16)
Reach Number One in Your Field: David Yaskulka	180	(8)
``Reputation Is Everything''	181	(1)
``Reinforce Your Brand Every Chance You Get''	182	(1)
``We Are Good at Making Sure Our Customers Are Protected''	182	(2)
``Build Your Reputation as a Socially Responsible Business''	184	(3)
``Go on Discussion Boards and Really Help People''	187	(1)
``We Try to Have a Core Value for Our Company''	187	(1)
Building Good Feedback: David T. Alexander	188	(7)
``I Had a Lot of Customers Already from My Existing Business''	189	(1)
``People Buy from You Right Away If You Have High Feedback''	190	(1)
``I Can Walk a Hundred Yards to My Office''	191	(1)
``When Something Doesn't Sell on eBay the Work is Lost''	192	(1)
``If One Person Leaves Me Negative Feedback, It Isn't Going to Change My Percentage''	193	(1)
``Having a Good Reputation Sells''	193	(1)
Lessons Learned in This Chapter	194	(1)
Acquire and Keep Your Customers	195	(18)
Using Your eBay Store to Acquire Customers: Creative Paper	196	(7)
``The Whole Purpose of eBay Is to Get Customers''	198	(1)
``We Do a Blast E-Mail to 20,000 Customers''	198	(3)
``We Do Give People the Option to Opt Out''	201	(1)
``I Had a Lot of People Requesting Patriotic Stuff After 9/11''	201	(2)
Upselling and Cross-Promoting: Dallas Golf	203	(10)
``Golf Is Almost the Perfect eBay Product''	204	(1)
``It's Like Tapping Them on the Shoulder and Saying, `Would You Like to Buy Something Else?'''	205	(2)
``We're Sourcing Through Our Competitors''	207	(1)
``If We Can Get Customers to Trade in Their Old Clubs on eBay, We Can Sell Them on eBay''	208	(1)
``We Do a Daily E-Mail That Highlights Auctions That Are About to Close''	209	(1)
``We're Always Trying to Say, `If You Don't Like This, Here, Look at This'''	210	(1)
``Be a Salesperson: Tell People What They Really Need on the Phone''	211	(1)
Lessons Learned in This Chapter	211	(2)
Automate to Ramp Up Sales	213	(18)
Doing eBay Bigger, Better, Faster: Kevin Harmon	214	(6)
``You Need a Solid Breadth of Product to Sell Well on eBay''	214	(2)
``Our Model: Virtual Inventory We Don't Own Until It's Sold, and National Distributors''	216	(1)
``We Are Plugged in Directly to eBay with Our Own Software''	217	(1)
``I Never Buy Anything Unless I Research It First on eBay''	218	(2)
``Everyone Gets Burned Trying to Find New Suppliers''	220	(1)
Managing Sales with Special Software: Jon Stein	220	(11)
``Start with Something You Really Love''	222	(1)
Choose the Right Solution Carefully	222	(1)
``Time and Time Again, We Look for New Eyeballs and New Customers''	223	(3)
``I Think the Best Is Yet to Come''	226	(2)
Lessons Learned in This Chapter	228	(3)
APPENDIX A Web Resources for PowerSellers	231	(10)
Resources on eBay	232	(1)
eBay Keywords	232	(1)
PowerSeller Information	232	(1)
``What's Hot'' Lists	232	(1)
Software Tools	233	(2)
Andale	233	(1)
buySAFE	233	(1)
Ethical Technologies	233	(1)
Infopia	234	(1)
Marketworks	234	(1)
SpareDollar	234	(1)
Vendio	234	(1)
Zoovy	234	(1)
Tools for Finding and Selling Merchandise	235	(1)
Alibaba	235	(1)
Association of Independent Information Professionals	235	(1)
``How to Find Wholesalers'' Workshop	235	(1)
Multistate Tax Commission	236	(1)
Groups and Forums	236	(1)
eBay Sales Reports Discussion Board	236	(1)
Professional eBay Sellers Alliance (PESA)	236	(1)
Seller Central Discussion Board	236	(1)
Tools for Tracking Income and Expenses	237	(1)
Microsoft Money 2005 Web Site	237	(1)
MYOB Web Site	237	(1)
Peachtree Office Accounting	237	(1)
Quicken 2006	238	(1)
Quick Books	238	(1)
Other Places to Sell Your Merchandise	238	(1)
Craigslist	238	(1)
iOffer	239	(1)
Yahoo! Auctions	239	(1)
Yahoo! Classifieds	239	(1)
E-Commerce Hosting Services	239	(2)
AOL Hometown	239	(1)
Bigstep.com	240	(1)
Microsoft Small Business	240	(1)
APPENDIX B Becoming an eBay Millionaire: The Twelve-Step Program	241	(8)
Step 1: Find Something You Love---and Sell It	242	(1)
Step 2: Set Out to Build a Business Rather than a Hobby	242	(1)
Step 3: Do the Research Up Front	243	(1)
Step 4: Develop a Steady Supply of Merchandise	243	(1)
Step 5: Know Who Your Customers Are and What They Want	244	(1)
Step 6: Don't Be Afraid to Grow	244	(1)
Step 7: Find People---or Software---to Help You	245	(1)
Step 8: Act Like a Salesperson	245	(1)
Step 9: Market Yourself and Your Business	246	(1)
Step 10: Sell in More than One Venue	246	(1)
Step 11: Make Your Customer Your King or Queen	247	(1)
Step 12: Be Prepared for Really Hard Work	248	(1)
Index	249