You must have heard about a lot of people that make a kill selling things on eBay. You must have also come across stories about how people have left their full time jobs, and now make all their earnings through eBay, and that too, a substantial amount. Then there are those who continue with their existing jobs, but pursue eBay to have additional handsome income.
While all this is true, you should remember that it is work after all, and requires commitment. Don't believe those who tell you that you don't have to work, and that eBay will do everything for you, while the money keeps pouring in. eBay is just a medium over the internet. You have to make it work for you, and this is not a simple task. However, if you are determined and focused, eBay can turn into an ultimate tool that will lead you to success and prosperity, if you are willing to work towards it. For starting out, decide what you are going to sell.
While this would seem obvious, but there are lots of people who ignore this step. One thing leads to another, and before you know, you might be selling things as varied as antiques, to plasma TVs. Start with a niche and stick to it. If you venture out into too many different things, think about the inventory that you would need to maintain! Expanding should be a gradual process that comes with success, but is definitely not recommended in the beginning. Don't try to be Wal-Mart, just stick to a niche! Have complete understanding of your profits, and keep a tight control over it. While this might sound very easy and obvious, it is one of the most difficult things to follow up on a day-to-day basis, and comes more out of habit.
Always consider all the overheads, and supposedly hidden costs that you will encounter. For selling on eBay, the overheads will consists of eBay and Pay Pal charges (or charges for any other mode of payment that you accept), shipping charges, packing costs etc. Other "hidden" charges can include the cost of borrowing, cost of space for maintaining the inventory etc. Include all these charges when deciding on a price.
It is also much better to sell lower volume for higher margins, rather than high volume for very low margins. At such times, the turnover will look big, but after considering all the charges, you will be left with very little for the amount of work you have put in. Apart from these, there are other factors like maintaining a professional attitude, and maintaining your focus even during dire times. Don't expect to achieve overnight success with eBay.
You will have to ride the learning curve, and profits in the beginning will not be as much as you like them to be. But as you gain experience, and learn new things, and then apply them, you are bound to achieve success, and prosperity.
Want to know more? John Thornhill trades on eBay under the username planetsms and constantly earns over $1000 per week on eBay on autopilot. To see how he does it visit http://www.planetsmsblog.com/