What do you reckon?....

Discussion in 'Starting a Business' started by Adam, Oct 24, 2009.

  1. Adam

    Adam
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    Heya

    As you may be aware i have a vast knowledge of how i could run a business and buying and selling items in order to make a profit.

    Im doing business studies at college so know quite alot from there including marketing, finance, target markets etc.

    Do you think i would be able to setup a shop on ebay, one of the basic 19.99 a month ones based on the knowledge that i have in buying and selling and also other skils?

    Ive always thought of it but im just wondering how hard it would really be and in the end actually worth it. The main bit im worried about is my rating off only 107 at the moment, although all 100% positive, im not sure if people would buy from me if i was a shop on ebay.

    I would sell a range of items but mainly specialising in gadgets and electronics, which would be at the best possible prices as i work well with my suppliers and have a number of them already.

    Let me know your thoughts or whether i should go for it and make one. If so then basically say GO FOR IT MATE or nope its way out of your league. Explain your answer and id love to hear from you guys.

    Catcha later.
     
  2. Sahil

    Sahil
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    Hi Adam,

    I think you should go for it. As you have many good skills of selling an item online, and also 107 is not less and also they are 100% positive so people will surely make a purchase from you. And also 19.99 per month is not a big fee so you should try it for one month and I am sure then you will be successful in it.
     
  3. Adam

    Adam
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    Thanks for your feedback about this subject :)..i guess i do have alot of knowledge about this subject, i just was not sure with my rating and everything whether or not it would be right for me selling. Im gonna get a pro looking logo and template hopefully should it should look pretty decent my auctions anyway if i was deciding to go down this route of selling.

    I just wanna make sure im doing the right thing before i leap into anything like this, thats all :)

    Do you think im alright selling electronics even if theres quite a few stores that already do?

    Do you know any forums that you can get pro looking templates/logos off?
     
  4. Tecknowoman

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    Forgive me if I missed this but do you have the products or are you talking about the drop shipping option on e-bay?
    If you have skills, determination and focus you can create success doing this any way you choose. Personally I don't use e-bay because I don't have control. I mean this in all seriousness because it is like having your eggs in one basket. For example e-bay changed its rules to disallow selling of digital product. There were quite a few who got burned because they sold digital products but only through ebay and suddenly therefore when the rules changed they had no business!

    My questions in whatever avenue you take are:
    Does it allow you build your own list? if not do you have a strategy to build a list through a separate site with name capture that directs them to your ebay store?
    If you don't build a list you can't on-sell, upsell or downsell to your existing customers. ie do you have control over your customers!

    Have you researched your market, do you know what people are buying, what keywords they are searching with and let's go one step further what the buying keywords are? Once you know that have you researched the competition in the market so that you know you have a good opportunity to create success. Ideally you want a market people are already buying in and that has enough players to give you a shot but not so many that you have almost no hope of competing without some serious internet marketing, SEO, traffic and conversion skills!

    If you want to sell high end consumer products have you checked out all the opportunities for ding so such as being an Amazon affiliate or just ebay?

    Have you thought through your strategy to drive traffic etc. Basically even though you are initially talking about a small investment store on ebay have you thought through a business plan do you know what people with successful ebay stores are doing to make them successful? For example have you looked at Adam Ginsberg and his ebay success/products etc?

    No matter how small an investment it is a business decision so analyse it with those skills you already have as if it is the most important business decision of your life and you'll have your own answer to your own question. My only other question is will it fill you with enough or satisfy enough passion that you will be driven to make it work?
     
  5. Fergal

    Fergal
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    My recommendation would be to go for it. However, you might also have a look at Yahoo Store / Merchant Services to see if it could provide you with a better solution.

    The reason I recommend that you go for it is mainly because of the experience and knowledge you will gain from running an online business like that. You will keep learning from it as long as you are committed and dedicated to making it work. From reading your previous posts you seem like the kind of person who will keep trying new things and pushing forward with need ideas to try and make it work. That is obviously a much better approach than opening a store and then sitting back and hoping for the best.

    Good luck with it and please feel free to promote your store in your signature here and in our Member Ads & Marketplace forum, if and when you have it set up and running.
     

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