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I'm often asked, "Kendall, How do I start an eBay business?" or "Can I really make money consistently on eBay?" or "Can I make a living on an eBay business?" or any variation of those questions. Well, the answer is Yes you can and for the newbie here are 5 simple steps you need in order to do so. 1. Know What You Know What are you knowledgeable about? What do you now do for a living? What are you passionate about? These questions can lead to quick profits. Let me give you an example- Sally works in and office building that deals with home insurance claims. Sally is exposed to the insurance value of a number of items. For this example we'll call the item a widget. The widget that she comes across has an insurance value of $100. Sally now has something to put in her databank that says this widget has value, let me find out the eBay value. $50 if the eBay value is $50 then she has an idea of what she can pay for that item in order to turn a profit. This is how I profit consistently. I started with a particular group of items I knew something about and then was able to determine how much I could pay for the items in order to turn a profit. Since I knew the about the items, when I came across them again or in research, I knew that they had some value those things were the first things I targeted in my searches. Once you get started, you build momentum by adding more type of items to your database. This is a short process. Week 1 you know about computers; week 2 you add printers; week 3 you add laptops. Now in 3 weeks you have 3 groups of items that you're making money on. 2. Get semi-organized! You don't need to have spreadsheets and big systems to get going in profit but you do have to have some organization in order to not make a mess of yourself. Set specific times when you do specific tasks like (4pm I'll do my research or 5pm I'll go through my emails) Having a plan will allow you to work way less and have the time to do other things. The purpose of having an eBay business for me is to make good money but to have control over my time. 3. From the start know what is the minimum amount you want to make. When I work with people, I have them set a minimum goal first. The reason for this is that people will set a high goal, which is fine, but might not have the mental focus at the time to see it through. Say your big goal was $10,000 per month but you needed $2000 a month to cover your expenses. For most people $10,000 per month is not really in their belief system and if your minimum focus of $2000 is not set they will most likely quit way before the $10,000 is accomplished not realizing that the $2000 minimum had already been met. Realistically $2000 will come very quickly but it will
Slide 2: take recognizing your smaller successes and gaining the mental focus that will bring you to the $10,000 mark. I teach people to realize that $10,000 is just reaching the $2000 mark 5 times. 4. Treat customers' right. This is key to growing and sustaining a profitable eBay business. Whatever it is you do, there is a customer for it. We may not call it a customer but our successes are determined by the level of service we provide to others. An example would be going to a restaurant and getting a waiter/waitress that provides excellent service. You are more inclined to tip the person that has provided excellent service rather than a waiter/waitress that has provided poor service. Same thing goes whether it's our neighbor or selling something to a "customer". Treat them right and you will be rewarded for it. 5. This is the most important of all the steps. Believe. Work on this one first. It'll make the rest of the stuff easier. In fact it will make life easier. "Whether you believe you can OR believe you can't, you're probably right." I can't remember who that came from but if you take it and put it to use, the desires are yours for the taking. There are definitely more things to do in your eBay business but these are 5 things that if you use them, no matter what mistakes you make, you will succeed. Know what you know, get organized, set a minimum goal, treat people right and Believe!
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