6 Different Ways I Have Made Good Business Profit On Ebay
6 Different Ways I Have Made Good Business Profit On Ebay
In this video, I explain six different ways I have successfully done business on Ebay, Amazon and my own website:
Method 1. Buy product from Craigslist.org, Thrift Stores, Goodwill, Garage Sales, etc. You use classifieds for deals being sold locally. Take with you a smartphone, so you can look up the items you are looking at on ebay or amazon to see what its value to you is. This way, you can quickly identify what will make you the most profits.
The best thing to do is to arrive early so as to get the good stuff, which is usually sold early. You also have to take into consideration your profit range and your fees. Ebay and Paypal fees are generally about 10% to even as high as 15%.
You can also cut out the middle man and buy from storage unit auctions, where a person did not pay their rent and lost their rental unit along with what was in it. Many thrift stores get their items from places like this. Usually you can find these type of places on the outskirts of town, usually in the industrial area.
Method 2. Info Products. Most I made on ebay was likely from Informational products. I paid ebay about $400,000 over 8 years ($4000/month x 12 months x 8).
At first I started just guessing and doing some trial and error. But later one, I learned a very valuable technique called \""Reverse Engineering\"".
The idea is to pick a popular topic you like. Then goto ebay, do searches on this topic. And check the box \""completed items\"" on the side menu (auctions already ended).
You will notice that some items that ended have green and some have red prices. The green means a sale.. Red means not sale.. So the idea is to look for patterns of green sales on this topic you searched. I would sort by \""highest price first\"".
Then, when I would find a bunch of greens from a certain on the info product/software/CD and then print off his advertisement. And then, I would circle all the points within his advertisement that made me want to buy the item. It is good to have a basic knowledge of marketing before doing this (to more easily identify what makes the ad successful). Generally, the idea is to look, not for features, but the benefits of the product.. Benefits are what the person really wants. The person doesn't really want the info product..
Business can bring the power of freedom. Freedom from work, etc. This is what the person really wants. Look for such things in the advertisement (what the person really wants to get from your product).
Method 3. Buy in Lots (Lot of 5, 10, 20, etc). Look for good deals on lots, where you can turn around and sell the item individually for a much higher price (hopefully double or triple what you paid).
I would generally do this with cell phones or game consoles, yet there are many other types of items you can do this with as well.
Generally, the guys selling these lots are selling overstocks, returns, clearance items they got in bulk.
