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!
Almost daily sellers will message me wanting tips to get their online products found in search. To help them I’ve investigated this important topic for years.
Are you also looking for better search results for your products on Amazon, eBay, Etsy, your own website and everywhere you sell?!
Are you looking for better search results?
I know you’re thinking to yourself, “Kathy, yes! yes!!”
I am constantly looking at retail stores and then looking at online selling to find ways to bring retail secrets to my online selling friends.
Your words matter. On Amazon there is a set formula for titles to be followed. It is not as cut and dry selling on eBay and Etsy.
When moving products from Amazon to eBay and Etsy and other sites it pays to do some simple research on what words get the most searches.
Hit sales class to ignite your online search results!
I’ve worked months testing the strategies I share with you in this power packed class. I’ve found the secret to leveraging product bundles to increase your search results not only on the selling platforms of Amazon, eBay, Etsy but all sales platforms. The strategies I’ll share with you also impact your product’s search on Google, Yahoo and Bing!
I’m so glad to give you useful tools to bring your items better search results, and ultimately more sales!
Cha chings are the perfect way to start to 2016, wouldn’t you agree?
2015 is drawing to a close and 2016 is just around the corner. As an online seller on eBay and Etsy here are my top winning tips for you to start 2016 right!
Top Tips To Start The New Year Right For Online Sellers!
1-Know your numbers! Your profit and loss are key numbers that all sellers should look at regularly to gauge the success of your selling efforts. Your profit and loss are the foundation of your business. In every segment of the hit CNBC show The Profit when the star Marcus Lemonis as he decides whether or not to invest in a company he asks, “What are your numbers?” Successful sellers know their numbers. Many new and or floundering businesses don’t and /or they guess.
How quickly does an item sell?
2- What is your sell through rate and or conversion rate? Roughly how long does it take to sell an item? Look at when your listed your products and look at when they sold. It’s important to know this as it informs you to how long your money will be tied up. Make notes on what item(s) and categories sell the fastest. Sell through rates are key to the cash liquidity that is needed for a successful business.
With this vital information to your overall profitability you are now ready for the next step!
Time To Find Profitable Products!
If you sell on eBay you can use effective research tools like Terapeak to do a deep dive and discover products that sell well. Then as a successful seller you look to source those products from wholesalers and distributors and/or direct from the manufacturer. Selling on Etsy you want to check your shop’s statistics.
Equipped with the knowledge of what is and is not selling the New Year is a great time for selling off stale inventory. Check the marketplace prices on the site where you sell. You also want to look at prices all over the web. Google search is an invaluable tool for this information. Then you will price and promote your inventory to sell now. My effective Secret Sauce for eBay Sales Class gives you tangible tested tools and strategies for increasing your sell through rate on eBay and getting cash in your pocket!
Tools to move ebay inventory!
Start the New Year right eBay and Etsy sellers. Know your numbers. Resolve to move stale inventory now. Start your 2016 with sales!
Cash is a very nice way to start 2016, wouldn’t you agree?
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