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?