If You Are Just Buying And Selling On eBay – You’re Leaving Most Of Your Money On The Table

Even if you’re a PowerSeller on eBay, if you’re just listing your items and waiting for someone to buy them, you’re leaving most of your money on the table.

I have to laugh sometimes when I see reports and posts on forums of people telling others how to make big money on eBay. You can tell by the information that the person who is giving out this free wonderful knowledge has never made money on eBay in their life and if they have very little money.

You see, if all you’re doing is listing you items on eBay and selling them then you are leaving the majority of your money right on the table, so to speak. There is a lot more to running a successful eBay business than just listing and selling merchandise or services. Matter of fact, according to one titanium PowerSeller the main objective to a successful eBay selling business isn’t even selling the merchandise. Isn’t that hard to believe but it’s true.

There are many things you can do to make more money with the customers you already have sold to on eBay. Have you made them a repeat customer? Do you keep in touch with them? If not, then you’re losing out! Not only that but you’re doing them a disservice.

I became a silver PowerSeller in my first 90 days and even so I lost thousands of dollars by not knowing what I should have been doing as far as my customers were concerned. Luckily I found out! I have seen the same thing happen to others selling on eBay and even PowerSellers like me. What a shame, not only for the person selling but for the customer too.

What you need to do is learn from someone who has actually had a successful eBay business and follow their steps. There are thousands of so-called gurus out there that are trying to teach you how to sell on eBay and have never done it themselves, let alone become a powerseller.

Buying Or Selling the Perfect Business

If you are looking to buy or sell your business, perhaps your starting point is perfection. But what is perfect? As they say, beauty is in the eye of the beholder. However, if you are considering buying or selling a business, the following items would probably feature in the “Perfect Business.”

The perfect business is one with the following attributes:

1. A reasonable price.
2. A reasonable down payment (hopefully about 20% of the full price).
3. Some seller financing.
4. Reasonable sales (hopefully increasing each year).
5. Discretionary Earnings of $60,000 per annum or more.
6. A compelling reason for the owner to sell.
7. A desired industry type.
8. Clear processes and procedures so the buyer feels they can take over the operation of the business.
9. Accurate and uncomplicated financial records.
10. Good and attractive location (if important for the business type).

If you are the owner of the business and wish to sell, try and have as many of these things in place to attract the right potential buyer. Bear in mind, that according to the California Association of Business Brokers it takes about 8 months to sell a business, but of the businesses on the market, only about 25% eventually sell.

If you are the potential buyer of a business, before you start looking at a business to buy, get your personal situation in order so you present strongly to the seller.

This means getting together a clear resume, checking your credit report is clear of any errors, your credit score is strong (hopefully a FICO score of 700 plus) and a personal financial statement that shows you have more assets than liabilities.

Finally, remember the Golden Rule. The Golden Rule is to put your feet in the shoes of the other party. If you’re the seller of the business, see things from the buyer’s perspective. If you are the buyer, see things from the seller’s perspective. If you can do this, your chances of closing the sale are greatly enhanced.