Almost daily I am approached by sellers asking me ” Kathy how do I start selling online full time?”
My answer is “Have a plan for success”.
There are people that are super successful that seem to grow their business by somehow being in the right place at the right time. They may prosper for a while, but eventually they will face a hard lesson in numbers. If they side step learning and knowing their numbers they will fail. Most sellers businesses will stop growing without a plan, grow haphazardly or die. If you are looking to be a full time seller then look to increase your profits in a professional business like way. Here are 5 proven steps to move your business to the next level.
#1- Do the Math
Let’s say you want to increase your eBay business by $1000.00 gross revenue a month. That may seem like a lot. Do the math. Most months have 30 days. So that would be an increase of roughly $33.33 a day. Can you do that?
That brings us to your next step.
#2- Make A Plan
If your goal is to increase your eBay sales by $33.33 a day how do you do that? Do you need to increase your inventory? Do you increase your sell through rate? Most likely it will be both.
#3 Increase Your Inventory
The rule of thumb on increasing sales is that if you want to grow your sales by 20%, you increase your inventory by 20% etc. If you plan to increase sales by 20%, do you have inventory on hand that is unlisted that you can list to accomplish this? If you don’t, where can you access inventory? Does your inventory come from thrift stores, yard sales, consignment shops, auctions, retail stores, wholesalers, liquidators or drop shippers? You may need to have several sources of inventory to expand your business successfully.
#4 Execution Is Key
Many sellers write plans, dream plans, talk about plans but they don’t DO them. Look at your end goal. Then break down the journey to accomplish your goal into doable steps. You may want an accountability partner or seller buddy to encourage you and check on your progress. If and when you hit bumps along the way, don’t give up. Focus, re group and get back to work!
You’ve take all the essential steps to reach your goal! Good for you. Plan a celebration and treat yourself royally. Would you like a nice manicure-pedicure, or a special dinner out? It’s important to take the time to soak in your achievement. You’ve worked very hard. Take time and relish your accomplishment. Thank those that helped you on your journey.
Soon enough it’s time to set the next goal and start the process all over again!
Plan and then take that essential first step and then the next. You’re on your way to another success!