Hi everyone,
We have an exciting eBay success story for you this month! Introducing Ben Doyle, who is making an impressive $20,000 per month from running his business on eBay. Keep reading to learn the secret to his success (and copy it for yourself).
What do you sell?
I sell in 2 niches currently, until the 10th of September it was 3.These days the bulk of my income comes from branded and unbranded fashion.I also sell second hand products and the types of products I sell range from vintage designer clothing to furniture.
I did sell information products on eBay until eBay.co.uk decided to take this category off the site on the 10th September 2012. This has resulted in a loss of around $23,000 a year, so luckily I had other niches to fall back on.
Where do you sell?
I sell the bulk of my inventory on eBay and my own websites. To be honest I haven’t really been interested in using any other 3rd party platforms until recently.
But the recent category changes and the talk of choosing to pay more in the way of final value fees to get higher search rankings has made me think that I should consider other options.
So I have started to sell some of my core products on Amazon.co.uk
I will always sell on eBay because they will always get a high volume of traffic and there are ways that you can leverage that traffic that you can’t with Amazon.
How much do you earn from selling online?
All my businesses combined turn over around $20,000 per month on average and is run by myself and my girlfriend.
As I mentioned above, my information product business turned over just less than $2,000 a month on average.
My second hand business doesn’t make much money these days because sourcing the products can be very time consuming so it only really generates a few hundred dollars a month. But the beauty of sourcing and selling second hand products is that the profits margins can be incredibly high. Turning $20 into $100+ is not uncommon.
What was the biggest obstacle you had to overcome in selling online?
I’ve had a few, but I think the biggest obstacle for me was actually starting.
There’s an incredible amount of ways to make money online and I got suckered into more ‘Get Rich Quick’ scams than I care to admit and after these failures I was always left wondering what I was going to do.
Then when I decided that I was going to use eBay, the next problem I faced was what the hell was I going to sell?
I couldn’t get my head around market research and how to conduct it and I found myself just selling odd items that I picked up at auction and at car boot sales.
I remember the stupidest mistake I ever made – I bought a massive TV bracket at the auctions for $16. It was easily worth $200.
I listed it as an auction on eBay at 99p with free postage. Only one person bid on it and they paid just 99p for the item. I had to foot the $26 postage charge so I ended up losing $41.
Naturally I blamed everyone else and just gave up. I didn’t believe that someone like me could be successful. In actual fact, I just didn’t know how to list an item.
It took a few months before I tried again. But I’m glad I did!
What’s your favourite thing about making money from selling items online?
There are too many to list!
My absolute favorite thing about selling online is that I can make money just by sending an email and I can automate a lot of the process.
Another thing is that as soon as you put your business online you immediately have an international audience and the internet is open 24 hours a day. It definitely beats opening a brick and mortar shop in a small town for just 8 hours a day and hoping someone will walk past and take an interest!
And I love the fact that I don’t have to wear a suit for work. I have recently sunburnt myself while working in the garden in just a pair of shorts!
What has been the biggest contributing factor to your online success?
Without a doubt, if there is one thing that has made all the difference it has to be the fact that I use eBay to collect the names and email addresses of as many people as I can.
Either people that buy from me or people that just visit my eBay store.
I can then send email promotions to these people whenever I want which always results in extra sales – sometimes thousands of dollars in just a few hours!
This is something that virtually no one does. People think that this is against eBay policies but when you do it in the right way it is completely within the rules.
Email marketing is incredibly powerful because once you have someone on your email list you can send them to any website you want.
You can send them to your own website, back to your eBay store or to related affiliate offers.
Like most people, I was guilty of just trying to make that one sale with no thought as to a ‘back end sales funnel’ to increase the amount of sales I made.
But if you want to grow your business you absolutely have to build a database of customers and subscribers - once I started doing this, my business changed forever and grew at a rate that I could never have imagined.
People always ask me how I was able to grow my business so rapidly and how they can build a customer list without falling foul of eBay’s policy’s so I wrote an eBook, ‘Auction List Building’ that shows you step-by-step, click-by-click EXACTLY how to do it for yourself.
Want to earn big like Ben does? If you are passionate about creating your own business, I highly recommend that you give Ben's Auction List Building a go. It's fast and easy to get instant access to this invaluable eBook which is a gold mine of information. Best of all, the comprehensive eBook is just US$27! That's a tiny investment for such huge potential gains. Plus, when you order using our special link, you will also get bonus eBooks worth $45 to boost your income even further.
Plus, you get a full 60 day money back guarantee, so really, what have you got to lose?
Grab yourself a copy of Auction List Building now for just $27, and learn how to sky rocket your book-selling profits!
Source: http://www.salehoo.com/blog/ebay-success-story
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