The True Secret to Making Money on eBay: A Willingness to Work
I was once neighbors with an employee of the world’s #9 top eBay seller. The seller pushed six figures worth of merchandise through the online auction system each and every month! So what was his secret?
Sure, it helped that he had a connection to a Chinese manufacturer who was able to make him wireless accessories for 25 cents per piece which he turned around and sold for six bucks each — a whopping 240,000 percent profit! But even though he was making a tremendous profit per sale, that 240,000 percent increase, while sounding impressive, equated to just $5.75 per sale.
At $6 per sale, this seller had to sell nearly 17,000 pieces per month, or an average of 555 per day to break the six-figure sales number each month. Keep doing the math and you get an idea of the kind of lifestyle he was able to live selling over 500 items per day. Think a little more and you realize that in order to make that kind of money on eBay required packaging and shipping a lot. That’s a lot of boxes, packaging tape, and stamps!
Despite having a system in place and selling enough items that he was really rolling in the dough, making money wasn’t exactly easy for him. It was reported to me that he worked sun up to sun down pretty much every single day. To sell 500 items, you must first list 500 items. Then you must ship 500 items, then do it all again. Just imagine the commitment it took.
And that is where we get to the true secret of making money on eBay: hard work and dedication. It doesn’t matter what business you get into, there is one inescapable fact to becoming wealthy, and that is you must put in the work required to obtain that wealth. Online auctions are simply one path of many.
Bill Gates and Warren Buffet both chose very different paths, both from each other as well as the world’s #9 top eBay seller. But there is a big difference here. Bill Gates is a computer genius, Warren Buffet a financial markets genius. The world’s #9 top eBay seller? Neither of those. He is just a normal guy selling stuff out of his home to the world thanks to the power of the internet and online auctions.
In fact, virtually everything about him is probably pretty average. But he does have one shining skill that is far above average: a willingness to do what it takes to make money on eBay… to make huge money.
First comes knowledge. Once you have that, the only thing holding you back is you. Just how willing are you? That’s question #1 you should ask before taking on the task of online auctioneer extraordinaire.
PowerSellerPros is a free eBay eBook that offers advice on how to make money on eBay, authored by a former eBay employee and PowerSeller. Ed Staff is a freelance writer.
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