by yerton

Created on: May 04, 2008

My username on eBay is yerton, the same as it is on Helium, and this would be my first tip choose a name that allows you to own the website and, over time, develop your brand. I own the website yerton.com which I keep for my next latest project, but my eBay sales are now primarily lucky silver sixpences on gift cards (I also own the website silversixpences.com). You need not have a working website to begin with on eBay, but it pays to think ahead.

I have been a member of eBay since 2000 and have a positive feedback rating of over 10,600 (I have sold over 15,000 items to 10,600+ individual buyers, who have given me a positive comment on the website about their buying experience from me). This entitles me to be called an "eBay Powerseller" and I can proudly display the certificate sent to me by eBay to demonstrate this. I have written and taught others in an adult learning course locally here in Scotland and so I have given some thought to what makes a successful business on eBay.

I am also a fully qualified practising accountant in a manufacturing industry, so I would like to think that I can give some basic top tips for running a business on eBay. The following would be the most important hints that I would suggest:

1. Research your product. Find a product that you can design, manufacture, assemble or source so much cheaper than everyone else. It will be far easier (and maybe more profitable) to do this if you have invented a product yourself, but that is not so easy these days. You absolutely must cost your product eBay is the most competitive marketplace in the world, and so the only way you will be able to compete will be from being able to manage your margins (see below). You may be able to achieve discounts by bulk buying of items, but this will mean that you will have stock to clear which is a dangerous place to be on eBay.

Over the years, I have tried selling antiques, collectables, accessories and various other items from my house, but I have now settled on giftware. A good way to get started is by selling old items that you have accumulated around your house that you do not use. This will help you get use to eBay, the auction system, the payment system and postage charges. The first check received is a wonderful feeling, but don't be fooled that these will be your profit margins forever remember second hand items still had an original cost.

2. Check the competition Once you have established that you may have a possible product, look at the competition.

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