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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 Mon. June / 14 / 2021 

Jeff Bezos’ Blue Origin auctions off seat on first human spaceflight for $28M - TechCrunch
  1. Jeff Bezos’ Blue Origin auctions off seat on first human spaceflight for $28M  TechCrunch
  2. Blue Origin auctions seat on first spaceflight with Jeff Bezos for $28 million  CNBC
  3. Blue Origin auctions New Shepard ride with Jeff Bezos for $28 million  The Verge
  4. Blue Origin auctions first seat on crewed space flight for $28 million  WWLP.com
  5. Blue Origin auctions New Shepard seat for $28 million  SpaceNews
  6. View Full Coverage on Google News

Jeff Bezos Blue Origin Space Flight Auctions for $28 Million - The New York Times
  1. Jeff Bezos Blue Origin Space Flight Auctions for $28 Million  The New York Times
  2. Blue Origin Auctions New Shepard Ride with Bezos for $28M, 4th Passenger to be Added Soon  Via Satellite
  3. Jeff Bezos' Company Auctions Seat On Its First Crewed Space Mission For $28 Million  Gadgets 360
  4. Winning Auction Bid To Fly In Space With Jeff Bezos: $28M  News On 6
  5. View Full Coverage on Google News

Heritage Auctions' Rare Books Event Hits a Record-Setting $2.7 Million | Fine Books & Collections - Fine Books & Collections Magazine
Heritage Auctions' Rare Books Event Hits a Record-Setting $2.7 Million | Fine Books & Collections  Fine Books & Collections Magazine

Motorway’s auction platform for second-hand cars raises $67.7M Series B led by Index Ventures - TechCrunch
Motorway’s auction platform for second-hand cars raises $67.7M Series B led by Index Ventures  TechCrunch

Kusama Parachain Auctions - The Next Generation Of Token Offerings is Here - Forbes
Kusama Parachain Auctions - The Next Generation Of Token Offerings is Here  Forbes

Reverse auctions secretly killed by special interests - Clarksdale Press Register
Reverse auctions secretly killed by special interests  Clarksdale Press Register

Business daily - Blue Origin auctions ride to space with Jeff Bezos for $28 million - FRANCE 24
Business daily - Blue Origin auctions ride to space with Jeff Bezos for $28 million  FRANCE 24

Mecum Auctions makes big debut in Tulsa with 200 more cars than originally expected - KTUL
Mecum Auctions makes big debut in Tulsa with 200 more cars than originally expected  KTUL

10 Standout Auction Lots on Artsy This Week - Artsy
10 Standout Auction Lots on Artsy This Week  Artsy

1964 Cleveland Browns items sold at recent auction, including Frank Ryan’s championship ring - cleveland.com
1964 Cleveland Browns items sold at recent auction, including Frank Ryan’s championship ring  cleveland.com

Auction Fundraiser @ WJFF - The River Reporter
Auction Fundraiser @ WJFF  The River Reporter

OASIS putting on online auction to support local families starting June 15 - Cadillac News
OASIS putting on online auction to support local families starting June 15  Cadillac News

400-year-old Tuscan villa hits the auction block this month - The Real Deal
400-year-old Tuscan villa hits the auction block this month  The Real Deal

Kurt Cobain self-portrait sells for over $281,000 at auction - NME
Kurt Cobain self-portrait sells for over $281,000 at auction  NME

Why Upcoming Renewable Project Auctions May See Higher Tariffs - BloombergQuint
Why Upcoming Renewable Project Auctions May See Higher Tariffs  BloombergQuint

Ed Sheeran's school play footage up for auction - Inside NoVA
Ed Sheeran's school play footage up for auction  Inside NoVA

Stein Mart building auction postponed to July 19-21 - Jacksonville Daily Record
Stein Mart building auction postponed to July 19-21  Jacksonville Daily Record

Breaking News - "Barrett-Jackson Live, Las Vegas Auction" Broadcast Begins June 17 At 3PM ET on FYI | TheFutonCritic.com - The Futon Critic
Breaking News - "Barrett-Jackson Live, Las Vegas Auction" Broadcast Begins June 17 At 3PM ET on FYI | TheFutonCritic.com  The Futon Critic

St. Louis County land auction nets $900,000 - Duluth News Tribune
St. Louis County land auction nets $900,000  Duluth News Tribune

A 110-year-old bottle of Champagne is about to go on the block in an auction that could fetch millions - CNBC
A 110-year-old bottle of Champagne is about to go on the block in an auction that could fetch millions  CNBC

Wonder Woman's Sort-of Sisters from Another Planet, Up for Auction - Bleeding Cool News
Wonder Woman's Sort-of Sisters from Another Planet, Up for Auction  Bleeding Cool News

Arizona land auction postponed again after no one bids - ABC15 Arizona
Arizona land auction postponed again after no one bids  ABC15 Arizona

Heritage Auctions Claims the Zobrist Ring is Being Sold By a Merchandise Collector, Zobrist's Agent Says Not True - bleachernation.com
Heritage Auctions Claims the Zobrist Ring is Being Sold By a Merchandise Collector, Zobrist's Agent Says Not True  bleachernation.com

City of Eagle auctions off former 35-acre Floating Feather park site - boisedev.com
City of Eagle auctions off former 35-acre Floating Feather park site  boisedev.com

HiBid Auctions Feature Everything from Repo Vehicles to Fine Jewelry, with Over $40 Million Sold Last Week - PRNewswire
HiBid Auctions Feature Everything from Repo Vehicles to Fine Jewelry, with Over $40 Million Sold Last Week  PRNewswire

Phillips Sets Four World Records At Its Biggest Asian Watch Auction Ever, Totaling Nearly $25-Million - Forbes
Phillips Sets Four World Records At Its Biggest Asian Watch Auction Ever, Totaling Nearly $25-Million  Forbes

Art Thefts Rock Italian Broadcaster, David Bowie Work to Auction, and More: Morning Links from June 14, 2021 - ARTnews
Art Thefts Rock Italian Broadcaster, David Bowie Work to Auction, and More: Morning Links from June 14, 2021  ARTnews

'Covid Alien' CryptoPunk NFT sells for over $11.7 million to billionaire buyer in Sotheby's auction - CNBC
'Covid Alien' CryptoPunk NFT sells for over $11.7 million to billionaire buyer in Sotheby's auction  CNBC

PNB mega e-auction for properties: Check the date and other details here - Mint
PNB mega e-auction for properties: Check the date and other details here  Mint

Ogunquit nonprofit celebrates 10 year anniversary with a virtual art auction - WGME
Ogunquit nonprofit celebrates 10 year anniversary with a virtual art auction  WGME

Behind Blue Origin bids: RR Auction vets viers for New Shepard seat - collectSPACE.com
Behind Blue Origin bids: RR Auction vets viers for New Shepard seat  collectSPACE.com

FCC sets October start date for 3.45 GHz auction - FierceWireless
FCC sets October start date for 3.45 GHz auction  FierceWireless

Government auctions vehicles with open recalls in Phoenix - AZFamily
Government auctions vehicles with open recalls in Phoenix  AZFamily

Courthouse commotion — protesters try to disrupt World Class foreclosure auctions - KXAN.com
Courthouse commotion — protesters try to disrupt World Class foreclosure auctions  KXAN.com

The Most Expensive Picassos to Sell at Auction - ARTnews
The Most Expensive Picassos to Sell at Auction  ARTnews

World's Most Valuable Postage Stamp Falls Short Of Anticipated Auction Record - NPR
World's Most Valuable Postage Stamp Falls Short Of Anticipated Auction Record  NPR

Gorgo and Konga: The Monsters Steve Ditko Made His Own, at Auction - Bleeding Cool News
Gorgo and Konga: The Monsters Steve Ditko Made His Own, at Auction  Bleeding Cool News

Two Kentucky Real Estate Professionals Indicted for Rigging Farmland Auction - Department of Justice
Two Kentucky Real Estate Professionals Indicted for Rigging Farmland Auction  Department of Justice

PHOTOS: ‘Tiny home’ built by Casper Pathway students auctions for $103,000 - Oil City News
PHOTOS: ‘Tiny home’ built by Casper Pathway students auctions for $103,000  Oil City News

Why KCR is desperate to e-auction prime government land - India Today
Why KCR is desperate to e-auction prime government land  India Today

Princess Diana's 1981 Ford Escort heads to auction - Motor Authority
Princess Diana's 1981 Ford Escort heads to auction  Motor Authority

A Man Who Died Of COVID Left His Family A Cache Of Baseball Cards Worth Millions - NPR
A Man Who Died Of COVID Left His Family A Cache Of Baseball Cards Worth Millions  NPR

Colombia officially launches 3rd auction for renewables - Renewables Now
Colombia officially launches 3rd auction for renewables  Renewables Now

Can Regular Consumers Buy a Car at Auction? It Depends - Cars.com
Can Regular Consumers Buy a Car at Auction? It Depends  Cars.com

Inside the wild history of a fake painting up for auction - Inverse
Inside the wild history of a fake painting up for auction  Inverse

Nuclear capacity increases by 4.5 GW in long-delayed 'MOPRed' PJM auction, coal loses 8 GW - Utility Dive
Nuclear capacity increases by 4.5 GW in long-delayed 'MOPRed' PJM auction, coal loses 8 GW  Utility Dive

Rare Books &c. at Auction This Week | Fine Books & Collections - Fine Books & Collections Magazine
Rare Books &c. at Auction This Week | Fine Books & Collections  Fine Books & Collections Magazine

Bernie Wrightson Original Captain Sternn Artwork Hits Auction - Bleeding Cool News
Bernie Wrightson Original Captain Sternn Artwork Hits Auction  Bleeding Cool News

Unique endowment land auction brings in a sale price of $35.2 million - Local News 8 - LocalNews8.com
Unique endowment land auction brings in a sale price of $35.2 million - Local News 8  LocalNews8.com

Real Estate Auction Firms - Wichita Business Journal - Wichita Business Journal
Real Estate Auction Firms - Wichita Business Journal  Wichita Business Journal

Livestock Committee starts auction buy-back fundraiser - Greenville Daily News
Livestock Committee starts auction buy-back fundraiser  Greenville Daily News

Berks County to Hold First-Ever Online Auction for Delinquent Real Estate Taxes via Bid4Assets.com - PRNewswire
Berks County to Hold First-Ever Online Auction for Delinquent Real Estate Taxes via Bid4Assets.com  PRNewswire

State will auction off endowment land near Caldwell for future housing - boisedev.com
State will auction off endowment land near Caldwell for future housing  boisedev.com

Corvette at OGS auction sells for $32,300 - WRGB
Corvette at OGS auction sells for $32,300  WRGB

Rare Toulouse-Lautrec Hospital Painting to Sell at Paris Auction - ARTnews
Rare Toulouse-Lautrec Hospital Painting to Sell at Paris Auction  ARTnews

The Hulman Estate Auction starts Friday at the Fairgrounds in Vigo County - WTHITV.com
The Hulman Estate Auction starts Friday at the Fairgrounds in Vigo County  WTHITV.com

Complete 7 Page 1949 Will Eisner Spirit Original Artwork at Auction - Bleeding Cool News
Complete 7 Page 1949 Will Eisner Spirit Original Artwork at Auction  Bleeding Cool News

Kraken launches Kusama Parachain Auction platform as KSM defies downtrend - Cointelegraph
Kraken launches Kusama Parachain Auction platform as KSM defies downtrend  Cointelegraph

8 Artists Who Had Breakout Moments This Spring Auction Season - Artsy
8 Artists Who Had Breakout Moments This Spring Auction Season  Artsy

Chevy-Powered Hydrocar And Custom Trailer Headed To Auction - GM Authority
Chevy-Powered Hydrocar And Custom Trailer Headed To Auction  GM Authority

Sale of Museum Paintings Helps Conclude Strong Auction Season - The New York Times
Sale of Museum Paintings Helps Conclude Strong Auction Season  The New York Times

Nebraska Humane Society 'Puppy Cart' surpasses Husker tickets in auction - KLKN
Nebraska Humane Society 'Puppy Cart' surpasses Husker tickets in auction  KLKN

1970 Plymouth AAR 'Cuda heads to auction - Motor Authority
1970 Plymouth AAR 'Cuda heads to auction  Motor Authority

Social Auction App SuperBid Enters The Ring With Logan Paul And Floyd Mayweather In Their Upcoming Fight - PRNewswire
Social Auction App SuperBid Enters The Ring With Logan Paul And Floyd Mayweather In Their Upcoming Fight  PRNewswire

2015 McLaren P1 Owned by DJ Deadmau5 Crossing the Auction Block Next Week - The Drive
2015 McLaren P1 Owned by DJ Deadmau5 Crossing the Auction Block Next Week  The Drive

Rookie card of Tampa Bay Buccaneers QB Tom Brady sells for record $3.107 million at auction - ESPN
Rookie card of Tampa Bay Buccaneers QB Tom Brady sells for record $3.107 million at auction  ESPN

'Charlie Bit Me' Will Remain On YouTube After NFT Auction Switcheroo - NPR
'Charlie Bit Me' Will Remain On YouTube After NFT Auction Switcheroo  NPR

County to auction off hundreds of properties with unpaid taxes - Tulsa World
County to auction off hundreds of properties with unpaid taxes  Tulsa World

Racing antiques up for auction at Mary Hulman Estate - Fox 59
Racing antiques up for auction at Mary Hulman Estate  Fox 59

/R E P E A T -- Media advisory - Technical briefing on upcoming 3500 MHz spectrum auction/ - Yahoo Finance
/R E P E A T -- Media advisory - Technical briefing on upcoming 3500 MHz spectrum auction/  Yahoo Finance

Arizona site auctions postponed again; Austin likely landing spot for Samsung, reports say - Phoenix Business Journal - Phoenix Business Journal
Arizona site auctions postponed again; Austin likely landing spot for Samsung, reports say - Phoenix Business Journal  Phoenix Business Journal

Fate of Illinois nuclear plants in balance after 3 fail to clear PJM auction and subsidy plan stalls - Utility Dive
Fate of Illinois nuclear plants in balance after 3 fail to clear PJM auction and subsidy plan stalls  Utility Dive

Michigan DNR to auction 10 properties, including waterfront Torch Lake land: What to know - Detroit Free Press
Michigan DNR to auction 10 properties, including waterfront Torch Lake land: What to know  Detroit Free Press

UC Berkeley's Nobel NFT auction set for noon PDT on June 7 - UC Berkeley
UC Berkeley's Nobel NFT auction set for noon PDT on June 7  UC Berkeley

Auction Dilemma: Chevrolet Corvette Stingray Vs. Porsche 911 GT3 RS - HotCars
Auction Dilemma: Chevrolet Corvette Stingray Vs. Porsche 911 GT3 RS  HotCars

Indian Jack Daniels Roadmaster Dark Horse #1 Up For Auction - ADVrider
Indian Jack Daniels Roadmaster Dark Horse #1 Up For Auction  ADVrider

Jio, Vodafone Idea call for spectrum auction for Satcom services; Airtel remains tight-lipped: Report - ETTelecom.com
Jio, Vodafone Idea call for spectrum auction for Satcom services; Airtel remains tight-lipped: Report  ETTelecom.com

Google ditches pay-to-play Android search choice auction for free version after EU pressure - TechCrunch
Google ditches pay-to-play Android search choice auction for free version after EU pressure  TechCrunch

Armadale home sells for $575K above reserve as on-street auctions return - Domain News
Armadale home sells for $575K above reserve as on-street auctions return  Domain News

Sauk Centre Area Auction • Thursday, June 3 | Auctions - ECM Publishers
Sauk Centre Area Auction • Thursday, June 3 | Auctions  ECM Publishers

CNBC's 'Haines Bottom' NFT just sold at auction for over $61,000 - CNBC
CNBC's 'Haines Bottom' NFT just sold at auction for over $61,000  CNBC

Giant auction continues Friday, Saturday in Austin following death of ‘Taxidermy King’ - KXAN.com
Giant auction continues Friday, Saturday in Austin following death of ‘Taxidermy King’  KXAN.com

Sotheby's Stuart Weitzman Coin Auction $32M USD | HYPEBEAST - HYPEBEAST
Sotheby's Stuart Weitzman Coin Auction $32M USD | HYPEBEAST  HYPEBEAST

Yuki Terase, Who Built Sotheby’s Hong Kong Auctions Into Major Moneymakers, Departs After 10 Years Amid Staff Shakeup - artnet News
Yuki Terase, Who Built Sotheby’s Hong Kong Auctions Into Major Moneymakers, Departs After 10 Years Amid Staff Shakeup  artnet News

2021 Victor E. Bash Opens with Online Auction and Jersey Sale - Northern Illinois University Athletics
2021 Victor E. Bash Opens with Online Auction and Jersey Sale  Northern Illinois University Athletics

Barrett-Jackson Selling Every Car With No Reserve at Las Vegas Auction - The Drive
Barrett-Jackson Selling Every Car With No Reserve at Las Vegas Auction  The Drive

MBS Live Recap: Strong 10yr Auction Reinforces Friendly Trend - Mortgage News Daily
MBS Live Recap: Strong 10yr Auction Reinforces Friendly Trend  Mortgage News Daily

Honda CBR900RR Fireblade Makes Its Way to the Auction Block, Sports Big Bore Kit - autoevolution
Honda CBR900RR Fireblade Makes Its Way to the Auction Block, Sports Big Bore Kit  autoevolution

Amelia Island Auctions: Promising signs for the collector car market - New Atlas
Amelia Island Auctions: Promising signs for the collector car market  New Atlas

Acker Announces US $10 Million Trinity Collection Auction - wineindustryadvisor.com
Acker Announces US $10 Million Trinity Collection Auction  wineindustryadvisor.com

Pike County OH- Sheriff's Department Vehicle Auction Announced - Scioto Post
Pike County OH- Sheriff's Department Vehicle Auction Announced  Scioto Post

Teen to benefit from Scarborough Realtor's virtual auction - pressherald.com
Teen to benefit from Scarborough Realtor's virtual auction  pressherald.com

Charlie Bit Me NFT sale: Brothers to pay for university with auction money - BBC News
Charlie Bit Me NFT sale: Brothers to pay for university with auction money  BBC News

Mecum Auctions Now Accepts Digital Currency Payments for Collector Cars – Bitcoin News - Bitcoin News
Mecum Auctions Now Accepts Digital Currency Payments for Collector Cars – Bitcoin News  Bitcoin News

Auction House Retiree talks about his experiences since owning and operating the Auction House - KSNF/KODE - FourStatesHomepage.com
Auction House Retiree talks about his experiences since owning and operating the Auction House  KSNF/KODE - FourStatesHomepage.com

County Auction Brings In Over $900,000 | NewsTalk 610 AM & 103.9 FM - KDAL News
County Auction Brings In Over $900,000 | NewsTalk 610 AM & 103.9 FM  KDAL News

Rare stamps and a US coin could fetch $37 million at auction - CNN
Rare stamps and a US coin could fetch $37 million at auction  CNN

Napa Auction Brings in the Big Money | Wine-Searcher News & Features - Wine-Searcher
Napa Auction Brings in the Big Money | Wine-Searcher News & Features  Wine-Searcher

Edenhope-bred kelpie, Hoover, sells for $35,200 at working dog auction - NEWS.com.au
Edenhope-bred kelpie, Hoover, sells for $35,200 at working dog auction  NEWS.com.au

Sotheby's to sell 'first' NFT in online auction - Reuters
Sotheby's to sell 'first' NFT in online auction  Reuters

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