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Your eBay Business - 8 Ways To Insure Its Success


I don't know if you've ever noticed, but it seems like every week or two we read about another Powerseller going out of business.

If you want your auction business to be a long-term success, then it's important that you plan now for it's continued growth.

According to some people the world economy may be moving toward a 1930's like depression. Others say there is no chance of that happening.

Even without something as catastrophic as a world-wide depression, there are still plenty of little things that can put a damper on your success. But, whatever the situation, it's a good idea to hedge your bets.

Here's eight tips for preparing your eBay auction business for whatever the future may hold:

1. Keep your overhead low

One of the biggest advantages that you, as an independent businessperson, have in today's marketplace is that you can control your own overhead. You don't need big offices, lots of employees, and a lot of the expensive trappings of traditional businesses.

By always keeping a close eye on your overhead, you will be in position to weather the slow times on eBay and/or slow economic times.

In this business you can't always control how many sales you make, but you can control your overhead. Keep it low.

2. Invest in tools and training

Successful eBay sellers survive and prosper because they are willing to invest in new skills and tools; and to take the time to learn how to use them to make themselves more productive.

The key to long- term growth is to continually learn new skills and acquire new tools that will save you both time and money.

The more skills you develop, the more flexible you can be with the types of products you sell and how you sell them.

At the same time, it's important to invest your time and money wisely. Many people that want to build a full time eBay business willingly spend $200 - $300 over a period of time on several $20 - $30 products, but are reluctant to spend $100 or more on one product. While there are certainly some expensive products that are of little or no value, many times the best products are priced at an amount that belies their value.

3. Have multiple income streams

We've all heard the old saying "Don't put all your eggs in one basket." Nowhere is it truer than on eBay.

Try to set up at least three or four different niches, each of which produces it's own stream of income. There are a couple of advantages to this.

First, while the income you make from each niche might not be enough to survive on, the combined income can provide a comfortable living.

Secondly, should one or more of the niches suddenly slow down, you will still have income from the others to tide you over until new income streams can be created.

4. Have a Plan B & Plan C in place

It's a fact of life that very few lucrative niches on eBay last forever. What will you do if you most productive niche suddenly takes a dive into the dumpster?

And, what if another of your niches takes a dive also?

Knowing the answers to these questions will help prevent you from having to make decisions out of desperation. You should always have a backup plan in place.

You should be continually looking for and developing new niches that you can move into if others become unproductive.

5. Be flexible and be ready to react quickly to changing conditions or developments

Always be on the lookout for the occasional, short term, hot item that pops up on eBay.

Within the last year it was Dragonball Z, Beyblades and Furreal Friends. Would you have seen them coming and been in a position to take advantage of the craze for one of more of them?

Many so called auction experts talk about utilities such as Hotbids.com or Andale's Research tool to help you determine what's hot. But the secret isn't to find out what is hot; it's determining what is going to be hot.

There are several web sites and tools you can use to do this. One of the best is Lycos 50, a daily report on Lycos.com by Chris Schatz. He talks about the top 50 keyword searches on Lycos and makes predictions.

If you had been a regular reader, you would have read his predictions for how hot each of these items would have been enough ahead of time to position yourself on eBay to take advantage of the craze when it really hit.

The point is that, many times, the real research tools you should be using aren't in any way connected with eBay. Neither are they being touted by the so called experts.

But they're there to be used by you if you are imaginative enough to see how what they offer can fit into your business.

Whenever there is change, there is always opportunity. But only if you can see the change coming and are flexible enough and have the skills and tools needed to take advantage of it.

6. Don't make decisions out of desperation

Never let any situation get so out of control that you have to make hasty decisions out of desperation. In nearly all cases, doing so will only cause more problems.

It is far better to take the long-term view - constantly monitor your business so that you can take any necessary steps and make any necessary changes before the problems become critical.

7. Always keep your priorities straight

Never let your business take over your life. Your priorities should be family, health, morality, and then business. It's never worth destroying your family, health, or reputation trying to build your business.

If your business gets in the way of family responsibilities, change your business. If your business is destroying your health, change your business. If your business is causing you to make decisions you know are immoral or illegal, change your business.

Always remember what your long-term goals are and don't sacrifice them for a quick, short surge in business.

8. Suck it up and hang in there

If you are in business for any length of time you are going to run into rough spots and tough times. Often with that happens you will see a lot of people bail out and quit.

In many cases, those few players that remain in the game are the ones who survive the tough times and go on to become extremely successful.

If you are selling good products, have low overhead, and multiple streams of income from several niches, you can afford to hang in there a lot longer than your competition. And sometimes, just by sucking it up and hanging in there, you become the winner of customers by default - because they have nowhere else to go.

Gary Hendrickson has been making his living selling on eBay for more than six years. He's the author of two eBay related ebooks, has a blog for eBay sellers, and is the owner of ColdItems.Com.


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONS AUCTION NEWS updated Tue. May / 26 / 2020 

Marie Antoinette's travel bag fetches nearly £40,000 at Paris auction - The Guardian
Marie Antoinette's travel bag fetches nearly £40,000 at Paris auction  The Guardian

Kobe Bryant's 2000 Lakers championship ring he gifted his mother sells for $206K at auction - CBS Sports
  1. Kobe Bryant's 2000 Lakers championship ring he gifted his mother sells for $206K at auction  CBS Sports
  2. Bryant concrete handprints sell for $75,000 at auction  Insidethegames.biz
  3. Kobe Bryant's 2000 NBA Championship Ring Sells at Auction for $206K USD  HYPEBEAST
  4. Kobe Bryant’s L.A. Laker’s 2000 NBA Championship ring up for auction, according to auctioneer site  FOX13 Memphis
  5. Kobe Bryant NBA Championship Ring Auctions For US$206,000  Boss Hunting
  6. View Full Coverage on Google News

UK auctions off vintage Rupp Arena items - WYMT News
UK auctions off vintage Rupp Arena items  WYMT News

Price of Hokkaido melons at season's 1st auction drops sharply - Kyodo News Plus
Price of Hokkaido melons at season's 1st auction drops sharply  Kyodo News Plus

Auction Houses Attract Collectors with Private Sales for Three Key Reasons - Artsy
Auction Houses Attract Collectors with Private Sales for Three Key Reasons  Artsy

Online auctions are up, up, UP - Desert Sun
Online auctions are up, up, UP  Desert Sun

Russian cenbank says it will continue holding long-term repo auctions as scheduled - Reuters
Russian cenbank says it will continue holding long-term repo auctions as scheduled  Reuters

The most expensive sneakers ever sold at auction - Business Insider - Business Insider
The most expensive sneakers ever sold at auction - Business Insider  Business Insider

Government delays multi-spectrum auction to late 2020 but delays 5G spectrum auction to 2021 - GlobeNewswire
Government delays multi-spectrum auction to late 2020 but delays 5G spectrum auction to 2021  GlobeNewswire

Canadiens Hall of Famer Bob Gainey auctions off personal memorabilia - Montreal Gazette
Canadiens Hall of Famer Bob Gainey auctions off personal memorabilia  Montreal Gazette

Marion County horse auctions to resume in June - WKMG News 6 & ClickOrlando
Marion County horse auctions to resume in June  WKMG News 6 & ClickOrlando

Claret Jug replica from Greg Norman's 1986 Open win up for auction - USA TODAY
Claret Jug replica from Greg Norman's 1986 Open win up for auction  USA TODAY

Kraft auctions off Super Bowl ring for more than $1 million - NBCSports.com
Kraft auctions off Super Bowl ring for more than $1 million  NBCSports.com

Notes: Bryant Finals Gamer Sells; Brothers Auction Cards for Causes,... - Sports Collectors Daily
Notes: Bryant Finals Gamer Sells; Brothers Auction Cards for Causes,...  Sports Collectors Daily

Leake Auctions Cancels June Tulsa Auction - duPont REGISTRY DAILY
Leake Auctions Cancels June Tulsa Auction  duPont REGISTRY DAILY

Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record - Yahoo Sports
Kobe Bryant memorabilia auctions higher than expected, but it's a Mike Trout card that ties record  Yahoo Sports

The Story Behind the Michael Jordan Love Letter That’s Up for Auction - The Action Network
The Story Behind the Michael Jordan Love Letter That’s Up for Auction  The Action Network

Auction industry readies for COVID-19 business closures - Marketplace
Auction industry readies for COVID-19 business closures  Marketplace

Bakker annual spring online auction set for May 30 - Wicked Local Wellfleet
Bakker annual spring online auction set for May 30  Wicked Local Wellfleet

Erie Zoo holds virtual animal art auction - YourErie
Erie Zoo holds virtual animal art auction  YourErie

Selected Western livestock auctions | Livestock Auctions - Capital Press
Selected Western livestock auctions | Livestock Auctions  Capital Press

Long-Lost John Deere Found on Auction - WHO TV Des Moines
Long-Lost John Deere Found on Auction  WHO TV Des Moines

Auction Houses Report Success in Online Shift - Barron's
Auction Houses Report Success in Online Shift  Barron's

80-acre Tree-Mendus Fruit Farm property bought at auction for $335,000 - WNDU-TV
80-acre Tree-Mendus Fruit Farm property bought at auction for $335,000  WNDU-TV

Annual Spring Livestock auction raises more than $75,000 online to support student projects and education goals - KPRC Click2Houston
Annual Spring Livestock auction raises more than $75,000 online to support student projects and education goals  KPRC Click2Houston

Ford GT with delivery miles headed to auction - Motor Authority
Ford GT with delivery miles headed to auction  Motor Authority

Donald Bridell, a collector who loved auctions and garage sales, dies of COVID-19 at 89 - Minneapolis Star Tribune
Donald Bridell, a collector who loved auctions and garage sales, dies of COVID-19 at 89  Minneapolis Star Tribune

Armando Valdes Collection of South American Banknote Proofs at Heritage Auctions - CoinWeek
Armando Valdes Collection of South American Banknote Proofs at Heritage Auctions  CoinWeek

Leake Auctions cancels its Tulsa collector car sale - The ClassicCars.com Journal
Leake Auctions cancels its Tulsa collector car sale  The ClassicCars.com Journal

Tex-Mex chain Trudy’s may be sold at auction - Austin Business Journal
Tex-Mex chain Trudy’s may be sold at auction  Austin Business Journal

Elvis Presley's bedazzled jockstrap hits auction block for $35K - New York Post
Elvis Presley's bedazzled jockstrap hits auction block for $35K  New York Post

Investigation finds Baltimore’s auction board chairman improperly accepted compensation from vendors; longtime - Baltimore Sun
Investigation finds Baltimore’s auction board chairman improperly accepted compensation from vendors; longtime  Baltimore Sun

Nye County to auction 580 properties online to support essential services - News3LV
Nye County to auction 580 properties online to support essential services  News3LV

A fantasy golf auction? It’d have Jack’s putter, Tiger’s Scotty…and this epic club - Golf.com
A fantasy golf auction? It’d have Jack’s putter, Tiger’s Scotty…and this epic club  Golf.com

Saugerties auction shut down for violating non-essential businesses ban - Hudson Valley One
Saugerties auction shut down for violating non-essential businesses ban  Hudson Valley One

Stephenson's to host May 31 auction of dolls, toys, trains and banks from estates and private collections - ArtfixDaily
Stephenson's to host May 31 auction of dolls, toys, trains and banks from estates and private collections  ArtfixDaily

Rare Books &c. at Upcoming Auctions - Fine Books & Collections Magazine
Rare Books &c. at Upcoming Auctions  Fine Books & Collections Magazine

Barrett-Jackson brings in a big haul with online-only auto auction - New York Business Journal
Barrett-Jackson brings in a big haul with online-only auto auction  New York Business Journal

Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction - Barron's
Joan Mitchell’s ‘Noël’ Could Fetch up to $12.5 Million at Auction  Barron's

Auction sales volume continues to climb - Auto Remarketing
Auction sales volume continues to climb  Auto Remarketing

Online Auction to Aid Comic-Book Shops Raises Over $430,000 - The New York Times
Online Auction to Aid Comic-Book Shops Raises Over $430,000  The New York Times

Richard Childress auctions Dale Earnhardt car, $425K goes to charity - Yahoo Sports
Richard Childress auctions Dale Earnhardt car, $425K goes to charity  Yahoo Sports

Insiders Share Some Watch Auction Secrets - The New York Times
Insiders Share Some Watch Auction Secrets  The New York Times

Sotheby’s to Auction Storied Ginny Williams Collection in June, Featuring Leading Women Artists Mitchell, Krasner - ARTnews
Sotheby’s to Auction Storied Ginny Williams Collection in June, Featuring Leading Women Artists Mitchell, Krasner  ARTnews

16 Cleveland Indians items up for auction (photos) - cleveland.com
16 Cleveland Indians items up for auction (photos)  cleveland.com

Petitjean Collection with Lamborghinis going up for auction - Business Insider - Business Insider
Petitjean Collection with Lamborghinis going up for auction - Business Insider  Business Insider

Quillayute Valley Scholarship Auction online this year - Peninsula Daily News
Quillayute Valley Scholarship Auction online this year  Peninsula Daily News

Christie’s Gets Creative for 20th-Century Art Auction in July - The New York Times
Christie’s Gets Creative for 20th-Century Art Auction in July  The New York Times

Late developer Welkowitz's rare Ferraris up for auction as claims against his estate pass $150 million - LancasterOnline
Late developer Welkowitz's rare Ferraris up for auction as claims against his estate pass $150 million  LancasterOnline

28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction - Forbes
28-Carat Diamond Could Fetch $2 Million At Christie's Online Auction  Forbes

Auctioneers adapt to virtual auctions - Odessa American
Auctioneers adapt to virtual auctions  Odessa American

Shoeless Joe Jackson baseball card from 1910 sells for $492,000 - ESPN
Shoeless Joe Jackson baseball card from 1910 sells for $492,000  ESPN

Bellevue restaurant Antonios’ closes amid pandemic, auctions everything - WKRN News 2
Bellevue restaurant Antonios’ closes amid pandemic, auctions everything  WKRN News 2

BizBeat: J Street Vintage thrives through online auctions - Jefferson City News Tribune
BizBeat: J Street Vintage thrives through online auctions  Jefferson City News Tribune

Michael Jordan 1997 Bulls Jersey Sells for $288K at Auction - Bleacher Report
Michael Jordan 1997 Bulls Jersey Sells for $288K at Auction  Bleacher Report

Treasury yields sink after first 20-year bond auction since 1986 - MarketWatch
Treasury yields sink after first 20-year bond auction since 1986  MarketWatch

Prince’s Long-Lost, Ultra-Rare Blue Angel Cloud Guitar Heads to Auction - Rolling Stone
Prince’s Long-Lost, Ultra-Rare Blue Angel Cloud Guitar Heads to Auction  Rolling Stone

Phil Lesh Gear Up For Auction Including Stage Played Modulus Bass - JamBase
Phil Lesh Gear Up For Auction Including Stage Played Modulus Bass  JamBase

Kobe Bryant's Jerseys, Title Ring Sell at Auction - Bleacher Report
Kobe Bryant's Jerseys, Title Ring Sell at Auction  Bleacher Report

A New Era for Auctions? - MutualArt.com
A New Era for Auctions?  MutualArt.com

Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge - ESPN
Patriots' Kraft auctioning Super Bowl LI ring for charity in All In Challenge  ESPN

One Thousand Museum unit heads to the auction block - The Real Deal
One Thousand Museum unit heads to the auction block  The Real Deal

Michael Jordan 1986 Fleer Card Sells for Record $99.6K at Auction - Bleacher Report
Michael Jordan 1986 Fleer Card Sells for Record $99.6K at Auction  Bleacher Report

Ericson feeder cattle auction results | Livestock Markets | hpj.com - High Plains Journal
Ericson feeder cattle auction results | Livestock Markets | hpj.com  High Plains Journal

Editor’s Choice: Al Phillips Collection at Mecum Indy 2020 Auction - UltimateMotorcycling.com
Editor’s Choice: Al Phillips Collection at Mecum Indy 2020 Auction  UltimateMotorcycling.com

Deck out your Wildcat Den with Rupp Arena memorabilia at upcoming auction - WKYT
Deck out your Wildcat Den with Rupp Arena memorabilia at upcoming auction  WKYT

Polished and pricey: These three stainless-steel Fords are up for auction - Driving
Polished and pricey: These three stainless-steel Fords are up for auction  Driving

Andhra Pradesh minister lashes out at state Opposition on TTD land auctions, BJP stir tomorrow - The New Indian Express
Andhra Pradesh minister lashes out at state Opposition on TTD land auctions, BJP stir tomorrow  The New Indian Express

Hobby Lobby sues Christie's auction house over sale of illegally imported Gilgamesh Dream Tablet - Fox Business
Hobby Lobby sues Christie's auction house over sale of illegally imported Gilgamesh Dream Tablet  Fox Business

Sotheby’s Auctions Michael Jordan Game-Worn Sneakers From 1985 - WWD
Sotheby’s Auctions Michael Jordan Game-Worn Sneakers From 1985  WWD

ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions - Thoroughbred Daily News
ThoroughbredAuctions.com Mixed Sale a Test for Online Auctions  Thoroughbred Daily News

Advocate seeks probe into auction of PEC furniture - The Tribune India
Advocate seeks probe into auction of PEC furniture  The Tribune India

Sotheby's is losing millions because online auctions just aren't that exciting - The Hustle
Sotheby's is losing millions because online auctions just aren't that exciting  The Hustle

Mid Ulster Auctions expands services to Britain - The Irish News - The Irish News
Mid Ulster Auctions expands services to Britain - The Irish News  The Irish News

Sotheby’s Announces Online Lockdown Auction, ‘I Have to Stay at Home’ - HYPEBEAST
Sotheby’s Announces Online Lockdown Auction, ‘I Have to Stay at Home’  HYPEBEAST

Shrinking fossil fuel demand could hit California's cap-and-trade auction, experts say - Utility Dive
Shrinking fossil fuel demand could hit California's cap-and-trade auction, experts say  Utility Dive

This Tool Predicts Bring a Trailer Auction Results With Amazing Accuracy - The Drive
This Tool Predicts Bring a Trailer Auction Results With Amazing Accuracy  The Drive

How to protect clean energy auctions during Covid-19 crisis - pv magazine International
How to protect clean energy auctions during Covid-19 crisis  pv magazine International

Auction sales volumes still sluggish, but improving each week - Auto Remarketing
Auction sales volumes still sluggish, but improving each week  Auto Remarketing

Freeman’s To Offer 29-Carat Yellow Diamond At Online Auction - Forbes
Freeman’s To Offer 29-Carat Yellow Diamond At Online Auction  Forbes

City moves annual spring auction online due to COVID-19 restrictions - Prince Albert Daily Herald
City moves annual spring auction online due to COVID-19 restrictions  Prince Albert Daily Herald

This Historic Colt 1911 Pistol Carried at Iwo Jima Is About to Go Up for Auction - Military.com
This Historic Colt 1911 Pistol Carried at Iwo Jima Is About to Go Up for Auction  Military.com

Michael Jordan sneakers sell for $560,000 at Sotheby's auction - NBC News
Michael Jordan sneakers sell for $560,000 at Sotheby's auction  NBC News

Astros World Series championship ring pulled from auction at team's request - KHOU.com
Astros World Series championship ring pulled from auction at team's request  KHOU.com

Million-dollar listings: Palm Beach house fails to sell at online auction; price drops to $12.25M - Palm Beach Post
Million-dollar listings: Palm Beach house fails to sell at online auction; price drops to $12.25M  Palm Beach Post

Auction calendar: May 1, 2020 - Wisconsin State Farmer
Auction calendar: May 1, 2020  Wisconsin State Farmer

Stainless steel Ford Model 38, Thunderbird and Lincoln Continental headed to auction - Autoblog
Stainless steel Ford Model 38, Thunderbird and Lincoln Continental headed to auction  Autoblog

On the auction block with LaDon and Allen Henslin - Pipestone County Star
On the auction block with LaDon and Allen Henslin  Pipestone County Star

Riverside County sheriff's online auction offers cars, jewelry and more - Desert Sun
Riverside County sheriff's online auction offers cars, jewelry and more  Desert Sun

Coronavirus in NYC: USHG Auctions Weekend with HGTV’s Chop and Joanna Gaines - Eater NY
Coronavirus in NYC: USHG Auctions Weekend with HGTV’s Chop and Joanna Gaines  Eater NY

Wet Paint: Leonardo DiCaprio Flips a Work That Was Dedicated to Him, Hans-Ulrich Obrist Interviews Animals on TikTok, & More Juicy Art-World Gossip - artnet News
Wet Paint: Leonardo DiCaprio Flips a Work That Was Dedicated to Him, Hans-Ulrich Obrist Interviews Animals on TikTok, & More Juicy Art-World Gossip  artnet News

FCC's Pai asks Congress to repeal law mandating auction of public-safety T-Band spectrum - Urgent Communications
FCC's Pai asks Congress to repeal law mandating auction of public-safety T-Band spectrum  Urgent Communications

PAWS holding virtual auction to raise needed funds for 'baby season' - My Edmonds News
PAWS holding virtual auction to raise needed funds for 'baby season'  My Edmonds News

Manheim Auto Auction to furlough nearly 700 employees here due to COVID-19 - LancasterOnline
Manheim Auto Auction to furlough nearly 700 employees here due to COVID-19  LancasterOnline

Amarillo cattle auction results | Livestock Markets | hpj.com - High Plains Journal
Amarillo cattle auction results | Livestock Markets | hpj.com  High Plains Journal

Instagram Influencer Auctions Her Virginity Online to Raise Funds for Covid-19 Relief, Apologises After Outra - India.com
Instagram Influencer Auctions Her Virginity Online to Raise Funds for Covid-19 Relief, Apologises After Outra  India.com

First Barrett-Jackson'Online Only auction tops $3.79 million - The ClassicCars.com Journal
First Barrett-Jackson'Online Only auction tops $3.79 million  The ClassicCars.com Journal

Mediterranean-Style Mansion on Florida’s Merritt Island Heads to Auction - Mansion Global
Mediterranean-Style Mansion on Florida’s Merritt Island Heads to Auction  Mansion Global

Virtual auction nets a buyer for detained ship in Charleston Harbor - Charleston Post Courier
Virtual auction nets a buyer for detained ship in Charleston Harbor  Charleston Post Courier

SCHOOLS: Gatewood Elementary's virtual auction – and dinner! - West Seattle Blog
SCHOOLS: Gatewood Elementary's virtual auction – and dinner!  West Seattle Blog

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