I will ask the seller, “What are your goals?”
They will answer me “To sell more.” I will work with them to help them to be specific. Are they looking to increase their sales by 10, 20, 30% or more?
How do you achieve this goal of increased sales?
You can set aside 5 minutes a day to put your sales plan into place! That’s right just 5 minutes. To increase sales on eBay, Etsy or your own website, do you need to increase inventory, speed up the listing process, promote on social media and or hire help?
Once you have a goal, then work backwards to see what steps you need to put into place to achieve it.
You are sabotaging your success if you don’t have a clear plan.
So back to a seller’s plan of increased sales. A rule of thumb to increase sales by 20%, one would have to increase one’s inventory by 20%.
So I then ask the seller, “Do you have the cash reserve to purchase more inventory?”
If the answer is yes, we proceed. If it’s no, then we come up with ideas to raise cash. I work with the seller to increase their sales and cash flow. For some sellers it may be wisdom to take a loan.
Once the inventory cash is set aside, then it’s time to decide whether to acquire inventory locally through retail arbitrage, thrift shops and yard sales. Sellers can also chose to locate and develop relationships with drop shippers and wholesalers.
Exploring inventory sources can be done in 5 minute time chunks while you run your business.
Once the inventory is located and paid for, the next step begins.
Where are you going to store the inventory?
Do you need to reorganize your inventory storage area?
To prep your inventory area do you need family and or outside help? Should a storage facility be used to store inventory? Think it through considering the time and money involved.
While obtaining inventory and deciding the best way to store it, it can be smart to start a social media campaign on Twitter, Facebook, Pinterest and Instagram letting your followers know the goodies you have arriving soon! You can feature pictures of you preparing the inventory area to interest your followers in what is coming!
Your new eBay and Etsy inventory arrives.
You sort and store it. Log your inventory noting where everything is placed, so that you can easily lay your hands on your items when it sells.
Now the photographing and listing begins, anticipating your eBay and Etsy sales!
Successful sales growth on eBay and Etsy starts with a plan. Chose the percentage you want your business to increase. Calculate the necessary funds to successfully execute your plan. Investigate and choose the necessary inventory sources. Start a social media plan including your followers in the soon to arrive new stock. Sort and store inventory as it arrives. List inventory and continue interacting with your followers, sharing your new inventory with them. You can plan and execute in small 5 minute chunks of time. Don’t sabotage your plan with non action.
Keep tabs on results with sales and promotions, adjusting tactics to successfully sell your inventory.
With a well laid plan, and then necessary adjustments, you’ll enjoy nurturing healthy and steady growth for your eBay and Etsy business.