eBay Selling Secrets – Make Your Auction Business a Big Success

Are There eBay Selling Secrets?

You bet there are!

You could spend a lot of time and money learning these eBay Selling tips or you can learn from my experiences and the experiences of the Powersellers I have paid to learn from. This article will be the cheaper way.

Some folks may not like it that I am revealing these eBay selling tips but you will.

My Hot eBay Selling Secrets

a. Auctions with the best pictures usually sell for more.

As a buyer on eBay I have been appalled at the awful pictures people will use to try and sell their products. Take eBay motors for example. They selling a huge number of cars every day and yet some autos get no bids. I have seen people try to sell cars with no pictures at all. I bet they are still wondering why their auction did so poorly? I have seen folks listings with pictures they took after dark and almost no details are visible.

They say a picture is worth a thousand words. That may be true if it is a good quality picture. Try to take as many photos as it takes to properly display your item. On an uncomplicated item 2 to 3 pictures may be fine but on an auto or an rv it may take 15 to 30 detailed photos or more to properly display the vehicle.

b. Do Not use eBay’s hosting for photos.

Hot eBay Selling secrets that will save you money and improve your auctions look.

eBay gives you the first photo free but charges for the rest. I like to use Photobucket to host my photos for free. Those eBay photo charges will add up quick if you have a lot of auctions. You can also have bigger photos when you do your photo hosting off of ebay. You will want to learn simple html code to put space and words between your photos. You’ll also want set up your own basic listing template to start each auction listing.

c. Auctions listed in the right classification get more traffic.

When you get ready to list an item for sale it is a good idea to look at similar items and see what classifications they are listed in. Up at the top of the page you’ll see the classification and the sub class the items are in. Looking at these listings can help you find the best place to list your item.

d. Listings with misspellings may not get any lookers or bids.

When you totally misspell the auction keywords and put it in the wrong classification you are like a guy who opens a store in the wilderness. No traffic = no sales. Some smart buyers may find you and steal your item for little of nothing and the only one to blame is you!

e. Don’t sell to buyers with excessive negative feedback.

It might be a good idea to contact such folks and express your concern due to their poor feedback or you may just decide to say that buyers who have excessive feedback will have their bids canceled. While we are on the subject let’s talk about new buyers. You will always see folks on eBay with zero feedback as they have just registered. these folks will need some extra guidance from you to fulfill their transaction. You will have to spell out the steps they need to take to complete a transaction and the timeliness you expect. Some of them need a reminder of what a commitment they mad when they bid on your auction.

f. Make it easy for your buyers to pay for an auction.

To me, this means take Paypal. This is one of the simple eBay selling secrets but overlooked by many sellers. The small fee Paypal charges is worth it to get your auction paid fast. Allow buyers to pay you via paypal unless it’s for a large item like a car, boat or rv. In those cases ask for a specific deposit through paypal or by a bank draft and the balance in cash or a bank check. You’ll have to decide what you’ll accept and I recommend you exercise caution with checks of any kind. Never take a cashiers check made out for a larger amount and give someone cash back. These are scams made to catch the unsuspecting!

I can only say that as a buyer I will always choose a Paypal auction over one where the seller wants me to send cash or check as it slows down delivery. Most buyers have decided they want something right now when they buy it.

g. Write detailed auction descriptions.

Hot eBay Selling secrets

Giving your buyers the bad as well as the good in your descriptions proves that you are being trying to be honest in your descriptions. Take photos of the bad and the good. This especially applies to dents and scratches on autos, antiques and anything where it could reduce the value. If your item has the original box take a picture of that as well.

What is condition? New in the box, Good, fair, poor, or?

Is it working condition? If something is broken say so.

Who is the manufacturer? Model number?

How big is it? Color? Weight? How old is it? Mileage if it applies.

What is the item used for? What does it do? What could it be used for?

h. Reserves and Buy it Now Listings.

Non of the buyers like listings with reserves. They see them as a waste of time. Many of them feel that the reserve may be set so high that no one will be able to buy the item. Reserves usually cut down the amount of bidders on an auction. if you must have a reserve use one but I prefer no reserve auction listing and to let the market set the price. On large expensive items they may be needed but not recommended. Buy it now’s are good if the price is set at a fair price. Make sure you do your research as an extremely low buy it now will get purchased immediately. Setting the buy it now too high is bad and too low costs you money out of pocket.

i. Answer all the questions during the auction.

Some folks will ask questions about things you forgot to mention. Post these to the auction for everyone’s edification. For stupid questions that are covered in the auction, simply e-mail the person back without telling them it was a dumb question. If you don’t know an answer, tell them so. If it’s a question you don’t want everyone to see then do not post to the auction.

j. Make sure your word is always good.

If you tell someone their item will ship next day, then do it. Make sure everything in the pictures and descriptions is shipped. If there are some unusual terms or an item in the picture that is not part of the auction, spell it out in big print. Make sure nothing is in the auction that could be seen as trying to be deceptive.

k. Set fair shipping costs

Spelling out shipping costs in your auction and being fair about them will get more bidders. As a buyer it always irked me that a seller would want 4 times the actual shipping cost to ship my item. Tell them how you ship, how you don’t ship and when. If you are part time and can only ship on Thursdays spell it out. Having a flat rate shipping cost is fine, too, if it’s spelled out in the auction.

l. Build a good feedback rating.

If you are a new seller I suggest you buy a few small items and get some positive feedback showing and them sell a few smaller items to bolster that feedback rating some more. Do your best to work with your buyers to get good feedback posted. If you made a mistake ask the buyer what would make them satisfied enough to give good feedback? We all make mistakes so just do your best to make the majority of folks happy.

m. Always post fair and accurate feedback.

If I’ve tried to get a buyer to make pay for an auction and they won’t, I will post negative feedback and not sell to them again. If a buyer has done right give them good feedback. As a seller you have a duty to others sellers and buyers to take a minute and post feedback.

n. Watch out for e-mail purporting to be from ebay.

This applies to buyers and sellers.

There are lots of pfishing games online trying to steal your passwords. Once they have them your user name will be used to post a bunch of sham auctions and steal from others. Do not click a link in these e-mails. To check if an e-mail from eBay is genuine go to your my eBay page, log in and check messages. If the e-mail is real it will be there. If not forward it to [email protected] Same goes for Paypal e-mails. Paypal is eBay’s secure payment processor. If they steal your Paypal password they’ll try to steal all your money. eBay or Paypal can chase after these crooks.

I hope these eBay selling secrets have been helpful to you. They have been learned over several years of selling and buying, so study them carefully. See you on ebay.

If you are not interested in E Mail Lists , then you have already missed a lot.
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How Will You Compete After You Buy the Company?

Hundreds of businesses are bought and sold everyday. Each “deal”
is different. Every acquisition candidate needs to be
systematically evaluated prior to purchase as to its existing
competitiveness within their targeted markets to determine what
strategic augmentations need to be made to maximize eventual
return on investment.

As a business buyer you will need to estimate anticipated
financial return on your investment based on how the purchased
company will improve its strategic competitiveness within its
targeted markets or enter new markets after you purchase the
company.

What Competitive Strategy Makes Sense?

There are four fundamental strategies to compete in any targeted
market:

1) A Product/Service Based Strategy:

* Product/Service features and user benefits

* Perceived buyer value

* Technological or design advantages

* Breadth of product line or service offerings

2) A Positioning Based Strategy:

* Targeting specific user classifications

* Product/Service pricing

* Targeting specific product/ service applications

* Positioning versus a specific competitor

3) A Manufacturing Based Strategy:

* Cost reduction focused

* Leveraging throughput and output flexibilities

* Manufacturing customization capabilities

* Unique manufacturing certifications

4) Distribution Based Strategy:

* Local, regional, national, international distribution

* Means of product/ service distribution and delivery

* Inventory guarantees

* Just-In-Time or product consignment methods

Although any one or combination of these defined strategies may
be used to improve future market competitiveness, another
analysis needs to be made to define what company resources are
available or will be needed to effectively implement any given
strategy.

A qualitative and quantitative assessment needs to be made of the
to-be-acquired company’s; financial resources, tangible and
intellectual assets, talents or human resources, overall company
core competencies and status of legally protected technologies
or intellect.

As the potential new owner of a business you need to weigh the
acquisition candidate’s realistic ability to effectively compete
within any given targeted market against the overall profit or
revenue growth attractiveness of that same given target market.

Prior to purchase, decisions must be made whether you will:
1) invest more $ to obtain growth, or 2) selectively invest, or
3) “harvest”, get what return you can and diversify into new
product and market directions as quickly as possible.

The matrix below best illustrates a potential business buyer’s
strategic choices relative to growth of a future acquisition:

OVERALL MARKET(S) ATTRACTIVENESS

HIGH MEDIUM LOW

BUSINESS ABILITY HIGH 1 1 2

TO EFFECTIVELY MEDIUM 1 2 3

COMPETE: LOW 2 3 3
1 = Invest for growth

2 = Selectively invest

3 = Harvest: no additional investment/diversify quickly

Although this two dimension graphic may be insightful it needs
additional dimensional influences of consideration; product/
service life cycles, breadth of geographic focus, level of
competition, anticipated competitive response and expiration of
protected technologies, to name a few characteristics.

Buyer Beware!

The clear reality of buying a business is you always learn so
much more about the company post purchase than you effectively
could pre purchase. This practical uncertainty in buying a
business must be offset with careful buyer due diligence,
effective company resource definition and conservative resource
allocation planning in advance of company purchase.

Also, pursuing a new market, either with new or existing
products, can be fraught with major negative business
consequences. The cost of making a wrong market choice decision
can be significant. Actual capital outlays and realization of
opportunity costs from NOT pursuing another “better” market
alternative can be significant. The natural tendency for a new
business owner to make changes in the company strategy must
sometimes be delayed.

Like in any viable business purchase due diligence process,
whatever a potential business buyer can effectively do to
define, analyze, quantify and realistically forecast future
resource requirements for the bought company to grow, to meet
ROI goals, in advance of purchase, is ideal. In reality it is
far more effective to develop a strategic and resource
allocation plan prior to acquisition, knowing that you will make
changes to the plan post purchase, than to not plan at all!

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Selling Globally Through a B2B Exchange

Participation in B2B Exchanges is increasingly becoming one of
the fastest growing marketing methods for businesses looking for
augmenting their client base beyond their local markets. Any
good B2B Exchange offers direct contact with thousands of
prospective buyers in a single location. For some new
participants of a B2B Exchange, it appears to be a goldmine as
they discover unexpected quantity of readymade clients without
much effort from their side. Of course, there are many other
great benefits companies can reap from getting involved in a
B2B Exchange.

What is a B2B Exchange?

In a broader sense, Business to Business Exchange is an online
platform where buyers and sellers come to communicate,
collaborate and make business transactions. B2B Exchange caters
a large number of participant companies as a community. The main
objective of a B2B Exchange is to create a venue, filled with
features that allow members to efficiently conduct business
processes through the Internet. B2B Exchanges are also known
as e-marketplaces.

What are the benefits?

B2B Exchanges are capable of helping companies in buying,
selling and streamlining their business processes. The benefits
of participating in a B2B exchange may include:

a) Efficient inventory management:

Integration of your products and
services with the Electronic Catalog of the Exchange will help
you manage inventory more effectively.

b) Better customer relationship management:

Ability to have constant interaction through the Exchange allows
you to serve your customers better. You can track the whole
ordering process from payment to delivery and bring greater
efficiency in customer service.

c) New sales channel:

By becoming a member of a B2B exchange, you open a low cost,
highly functional and easy-to-use sales channel for your company.
You expose your company to a new targeted audience which
otherwise would have been untapped to you.

d) Save significantly from reduced paper works:

Automated supply chain management helps trimming down paper work
greatly.

e) Eliminate rogue spending:

Consolidated and automated procurement and approval method stops
unauthorized purchasing in a company.

f) Community participation:

You can receive valuable feedbacks from other fellow buyers,
receive industry-related information, build new partnerships
and use the networking ability of a community.

Tips for Success

The key to ensuring success with B2B Exchanges are in planning,
active participation, learning the tools necessary to use the
Exchange effectively and dedication to work through it.

1. Choosing the Right B2B Exchange

Although, there are huge benefits in participating in a B2B
Exchange, you have to be careful in selecting one. Not all B2B
Exchanges might work for you. There are thousands of B2B
Exchanges available on the Internet. Some are industry specific,
some cater only certain geographical areas, and some concentrate
more on delivering business tools to the participants. The
challenge is to select the right B2B Exchange, which will serve
your particular needs.

In order to conduct the selection process you must establish
certain goal. Possible objectives for you should be to:

o Generate sales

o Get access to a large numbers of buyers or sellers

o Find distributors and importers

o Enhance customer relationships through online tools

o Develop product awareness

o Extend market shares

o Conduct market research

o Streamline supply chain

o Automate selling process

o Adopt e-procurement

Your goal should combine several of these objectives.

In evaluating a B2B Exchange you also should consider whether
it has following features, as these features are vital elements
for any good B2B exchange.

1. Product catalog based on an industry-standard classification system

2. Product search capability within the marketplace and e-catalog

3. Directory of members

4. Product content adding and editing interface

5. Ability to promote products and services

Other key characteristics of a B2B exchange also include:

Simplicity – Primary tools of the exchange should be easy to
learn and use.

Significant membership base – The quantity of members should be
big enough, so that new participants can expand their business
from the very first day.

Flexibility – The Exchange should add new and modify existing
tools according to the market need.

Neutrality – The Exchange owners should be unbiased and maintain
absolute neutrality. Providing an open and transparent market
for all the participants is an important constituent of the
value proposition of a B2B exchange.

2. Preparation

Participation in a B2B exchange in order to achieve successful
result is a serious commitment. Study the exchange of your
choice thoroughly. If they offer trial membership, subscribe!
Spend time on learning the tools – how they work? Are they
beneficial to you business?

Proper preparation will help you:

– saving money

– making seamless adoption

– increasing productivity right from the beginning

– reaching your goals faster

However, poor preparation can get you into serious trouble.

– You may encounter higher costs

– Productivity may suffer significantly

– You even may be forced to abandon the whole idea

3. Adoption

The primary factors of company productivity are Revenue Increase
and Cost Cutting. Both are easily achievable if you adopt a
quality B2B exchange, train your stuffs to use it effectively,
integrate exchange’s various tools to your advantage and slowly
but consistently make it one of your primary channels for buying
and selling.

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