Since January 1 I’ve been sharing very practical tips with you to build and strengthen your eBay business this year.
To grow an online business it’s essential for sellers to plan.
During January, I wrote about the importance of eBay sellers creating a business plan. A business plan is fundamental to your achieving and sustaining business success. I wrote extensively explaining how your eBay business plan supports your online selling success in my blog post #1 Reason For Business Failure.
Did you take a few moments during your busy day in January to flesh out a business plan? Good for you if you did! Now is the time to take it out, take a look at it and gauge your progress.
Do you have a business plan?
Do You Have A Business Plan?
We’re almost through the 1st quarter of 2016. If you haven’t written out how you’d like to grow your eBay business you’ll find it’s easy for you to lose focus. Without a business plan it’s harder to chose what tasks you want to spend time on to build a stronger eBay online business for yourself.
Now is the perfect time to review your business.
How are your new eBay products selling? What do your customer’s say about you in customer feedback? Is your inventory system efficient? Are you getting likes, comments, shares and repins in social media?
Are Your Social Media Posts Getting Engagement?
Is the answer yes to all the above?
If it is yes, GREAT! Carry on and continue to gauge your progress. If it’s no, pause and grab a pen and paper.
What are the weaknesses you see in your eBay business?
Do you need to develop more inventory sources? Do you need better office organization? Would it be good to list more regularly? Is it time to update old listings? Do you want to learn more keys to search engine optimization? All eBay sellers want better search results for their listings! I’ve written a FREE tip sheet for you “How To Stand Out In eBay Search“.
Whatever you decide still needs work, pick 1 or 2 things to focus on.
Don’t allow yourself to get side tracked. Many eBay sellers sabotage their progress by trying to do and learn all things at once. It’s impossible and it hurts true growth.
When I was first learning social media I focused on 1 outlet at a time for 3 months. After the initial 3 months I moved to the next platform, then the next. Now years later I have a skill level in social media because I took the time to learn the fundamentals.
To grow your business you’ll find yourself chosing to attend webinars, read books and great information on SEO like my FREE ebay search tips, listening attentively in Facebook groups and working on your business with eBay consultants. Focused step by focused step you’ll build yourself a stronger and more vibrant eBay business!
With Focus You’ll Build A Strong eBay Business!
It all starts with a plan!
Take the time now to make your eBay business plan.
“What?!”, you’re thinking, “But Kathy as an online seller what about inventory sourcing, storing product, customer service, cash flow and social media! In addition there are never enough hours in the day for me to finish my daily to do list!”
All those factors are true and must be successfully dealt with for you to have a prosperous online selling business whether you are selling on eBay, Etsy, Amazon and/ or your own website. But there is something far more important that you must start with if you are looking to succeed as a seller.
This key element to success is spoken of often in the hit TV series Shark Tank and The Profit.
Watching the hit TV shows Shark Tank and The Profit what one characteristic do the investors look for in an entrepreneur that’s worth their time and money? It’s passion. Yes passion is fundamental to success as an online seller. Certainly you need to use good business practices or your passion can torpedo your success on eBay, Etsy , Amazon and or your own website. But without passion when it’s crunch time, you’ll give up and or not give it your best and fail.
How do I feed my passion?
As an online business person with your day filled to overflowing how do you keep your passion alive? When I watch the TV shows Shark Tank and The Profit I note often the entrepreneurs that look to be on a successful path are run by people that their small business is very meaningful to them. Their business is an homage to a dear parent or relative. Some of the business owners are deeply passionate about employing people in their local area or fund a cause with a percentage of their sales.
Whatever drives the entrepreneurs, the questions arises how do keep they you and me keep our business passion alive? The answer to that is deeply personal.
To succeed it’s important that you stay connected to your core passion.
Is it having the pictures of the person or cause that motivates you in your office? Does looking at daily sales numbers help you stay connected to your passion? For some prayer and meditation will connect them to what drives and motivates their business passion. There is no right or wrong answer to what or how it is best for you to stay passionate. What is fundamental to your personal and professional success as a business owner is that you regularly connect with your passion.
Take the time daily to connect.
Whatever connects you to your passion do it. Do it daily. This ritual of connection will keep you grounded and focused. Don’t be the seller that looses your passion.
Connect with your passion, use it and watch your business skyrocket!
If you run a successful business, you are going to make mistakes.
Mistakes are not necessarily #1 killer of businesses, did you know that? The errors you make in your eBay, Etsy or Amazon business do not need to destroy your business. #1 way to destroy your online business is to ignore or excuse your mistakes.
You will make mistakes. You will buy inventory that doesn’t sell. Perhaps you’ll allow too much unlisted inventory to pile up. The list goes on and on.
What sets a successful business apart from the ones that fail is that successful sellers take responsibility for their failures.
President George Washington said “99% of failure come from people who make excuses”. When you make an error in your eBay, Etsy or Amazon business you want to pause and think. Is the mistake an error in your research? Did the markets change? Is your mistake a matter of timing? Did you make a business choice on emotion rather than data? Gut choices can be huge winners and there are times when emotional choices lead to belly flops.
When you make an error, it’s a good time to turn to a friend who is a seasoned seller and/or grab some time with a good consultant. Take the time to review your choices and learn from your mistakes.
You may learn that your choice is fine and you are being impatient.
I know that as soon a I list inventory I want it sold immediately!
I Want My Listings To Sell Immediately!
When sales are slow and the bills are starting to pile up stop before you are in over your head. Confer with someone you trust. To blindly keep going when things don’t seem to be working in your business is inviting disaster.
Re-purposing inventory is a super way to drive sales and increase cash flow.
Many online sellers are very busy during the end of the 4th quarter with sales exploding in November and December. Many eBay sellers report sales staying strong in the month of January!
Some sellers note a small slump in sales in February.
Can a sales slump be avoided?
A fast and easy way to increase your sales is to ship international.
If you are not shipping internationally on eBay, many sellers see an increase of up to 30% of sales in a short time once they offer their products to a global marketplace.
Did you know that according to Jordan Sweetham eBay‘s Sr. VP of Seller Experience 97% of small to medium sellers on eBay are already shipping globally!
Jordan noted in a recent blog post for eBay for business that when he addressed an audience at the January National Retail Federation only a handful of the mostly brick and mortar retailers were shipping products globally to shoppers!
Wow! This means that small – medium size online sellers are ahead of the game right now in global sales compared to large brick and mortar retailers.
As an eBay seller, what can I do with this information?! I put on my thinking cap and find ways to maximize my international sales now!
Looking at global sales eBay sellers will fall into 3 categories.
What Category Are You In Global sales?
Sellers that only ship to their country.
Sellers that ship to a limited number of countries.
Sellers that ship everywhere.
If fear if keeping you only shipping to the USA consider that the USPS now offers delivery confirmation to many nations around the world including Canada, Great Britain, Australia, Belgium, Croatia, Estonia and more.
Using eBay’s Global Shipping Program the seller ships to a central hub in the US in Kentucky. The hub packs and ships the item to the global destination assuming all liability for the item arriving safely. The buyer pays all the shipping fees, and customs/import fees are paid by the buyer in advance.
Some sellers use GSP for items that are heavier and over 4 lbs and/or fragile and expensive, finding the GSP rates competitive and like the seller coverage the program offers.
Other sellers use eBay‘s GSP for everything they sell globally and some sellers opt to ship all their sold products internationally themselves. The eBay for Business blog covered essential tips for successful global shipping in their excellent recent blog post “How To Attract International Buyers To Your Listings.”
I encourage you to take a good look at your international sales and think, “What can I do to increase them?” Consider opening your shipping to all countries.
If a country is not included in eBay‘s GSP program or USPS eDelcon eligible countries list if it’s a low cost item consider shipping it without tracking using the USPS. For added peace of mind some sellers use are shipping insurance services like Shipsaver.
Items of high value can be shipped with USPS Global Express and other such carriers.
I recently have started started shipping to all nations and noted an almost immediate increase in sales. We all have different businesses and make the best choices for our businesses. Not everything can be shipped everywhere so check the USPS website for shipping restrictions.
Don’t forget when you ship globally you can offer more than means of shipping. Consider if you offer global customers USPS 1st class shipping, adding USPS Priority, and USPS Priority Express etc. If a customer needs something right away, you want them to shop with you!
Finally offer your international shoppers a personal touch. When you package their item include a hand written thank you in their own language.
Delight your global buyers with great products, expert packaging and a variety of shipping choices. A hand written thank you in their language will wow your global buyers with your professionalism and care and is a nice white glove customer service touch.
Watch your sales increase! You will be welcoming your return customers from around the world!
Online sellers from eBay, Etsy, Craig’s List selling and Amazon come to me sadly saying “Kathy, if I only knew…”. Yes, if they only knew!
When you first dip your toe in the water of online eCommerce often sellers are making money as a hobby. They are selling personal items from their home and/or a few things they pick up locally at thrift stores and yard sales.
A seller will chose to grow their business or not.
If you chose to grow your online selling business entrepreneur make sure you don’t make this serious mistake!
Don’t neglect to plan!
Do you use Google Maps on your phone when you travel?! I do. I type in my destination and my current location and bam in a matter of seconds my phone is guiding me in the right direction.
Google Maps cannot help me if I don’t give it my current location and where I want to go.
When you haphazardly source and sell, for the most part you will get haphazard results.
Professionals in all businesses plan.
Write in a journal, loose leaf binder, post its, Evernote, what and wherever it works for you but write it down. Look at your gross sales numbers for this time last year. What is your goal this month? 20% increase? 30%? You want to set a goal that challenges you and that is attainable. To say you want to double your sales, sounds great but unless you have massive amounts of new inventory coming it’s unlikely to happen. Why set yourself up to fail entrepreneur?
Pick a goal that is a stretch, but attainable!
Inventory bundles are an awesome misunderstood and under utilized tool by sellers on all platforms! That includes those of you who sell on Amazon, eBay and Etsy!
Products bundles are a low cost way for sellers on any online platform to grow their business! They have the BONUS effect of increasing your products search results which can also help INCREASE your sales. Bundles are a win-win to grow your sales profits!
My hit class Secret Spice For Online Sales gives you over 50 ideas for product bundles to sell as you grow you online business!
My hit online selling class help you grow your business!
Success Takes Planning!
Planning your business growth is exciting. Sit down and grab your pen and paper or favorite app. Start thinking through what and how you want to grow this year! Then get busy taking the next right step entrepreneur!
Don’t Just Dream!
The business that you want to have may start in your dreams, but it comes to fruition through your planning and hard work! I can’t wait to hear about your business growth this year. Take some time now to plan and you are on your way to your best selling year yet!
One of the biggest mistakes you can make starting your online business is to not buy your eBay store or Etsy shop dot-com name!
1-You don’t want someone else owning your store name!
After you’ve worked long and hard developing a brand and presence on social media using Facebook, Twitter, Pinterest and Instagram and on eBay and Etsy you don’t want someone else to own your name!
You don’t want someone else to own your name!
2-Owning your dot-com is also a great way to help Search Engines Find you!
Google, Yahoo and Bing search find your online products! Once you purchase your name you can use it to direct online traffic to your eBay or Etsy store!
3- You’ll find that owning the dot-com to your online business is very handy!
You can easily use it on social media and on your business cards! Rather than you having the long, long http address from your Etsy or eBay http address, now you are able to print www.mystore.com on your business cards and on your social media posts! With a short easy to remember dotcom address it’s far easier for you to give out your name to shoppers. It also speaks to your professionalism as a seller. You can tell customers and vendors, find me at www.mystore.com!
You can put your dot.com on your business cards!
4- It’s Easy To Purchase Your Name!
Go to sites like Go Daddy or Host Gator and buy your name. You don’t need the large assortment of add ons they will offer. Google for coupons as there are usually many for both sites.
5- What To Do With Your Dot-Com Once You Buy It!
Once you have purchased your name go to your domain dashboard and look for the link to refer traffic from your purchased address.
You will copy and paste your eBay or Etsy store address and confirm.
Give it a few minutes to process. Then enjoy Googling your store name and watch the internet search engines find your eBay or Etsy shop and store!
6- What A Deal!
For under $20 you have given Google, Yahoo and Bing a boost to find you and your online sales items. You have also made it easier for yourself to promote your online products on social media and to present yourself professionally on a business card!
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