eBay Entrepreneur by Christopher Matthew Spencer

Rating:

The eBay Entrepreneur

The eBay Entrepreneur: The Definitive Guide for Starting Your Own eBay Trading Assistant Business by Christopher Matthew Spencer

My personal recommendation…

This book is unfortunately not what it says “on the tin”. It’s a really solid business start up guide but is an almost useless guide to becoming an eBay Trading Assistant.

My notes on what I found to be of particular interest…

Trading Assistant (TA)
Trading Assistant Program
www.ebay.com/ta – details, FAQs, resources and instructions
TA requirements – sold 10 items in the last 90 days, feedback score of 100 or higer, 97% or higher of feedback is positive, account in good standing
www.ebay.com/education – selling (and buying) resources
“American households have approximately $2,200 worth of unused items lying around.” A. C. Nielsen
Anytime you’re making a decision about spending money for your business you’re engaging a Business Plan, whether you realize it or not.
Trading Assistant profiles include: hours and days of operation, areas of specialty, languages, services, fees and terms and conditions.
Company Information – Structure, licensing?
Competition and fee-pricing ideas
Management/Employment – Experts, assistants, accountants, attorneys, etc.
Marketing – Ideas, plans, programs
Operations – Supplies, vendors, price lists, etc.
Financials
Analyze local Trading Assistant information – within 10 to 20 miles of your home
What is their experience, length of time in business, hours, pick up policy, commissions and fees and are they easy to understand, up-front listing fee, any graduation of fees, restrictions, specialist or generalist, drop-off, photography and list description quality.
Good questions for friendly competitors:
Seasonal trends?
Referrals?
How do they attract new clients?
Repeat business?
Pitfalls?
Projected income?
Business plans should include mission statement, marketing plan, competitors, technical specs, insurance coverage, personal financials, break-even analysis, resume and bio.
Recommends against upfront listing fees and does not personally accept items with a minimum selling price.
Also recommends against flat pricing and instead for percentage-based fees.
eBay fees – Insertion fees, reserve fees
You can use a graduated commission scale – 38% of first 500, 25% of next 500, and 15% of any amount over $1,000.
Contract and Item Submission Form
Testimonials
Blackthorne Basic – Creates and edits listings in bulk. downloads from Ebay. 30-day free trial and $9.99 per month.
Blackthorne Pro – For high volume sellers. Includes a consignment sales management feature as well as bulk print of invoices and labels. Supports multiple users and eBay IDs. 30-day free trial and $24.99 per month.
Selling Manager – Makes it easier to track sales. 30-day free trial and $4.99 per month.
Selling Manager Pro – Makes it easier to track sales. 30-day free trial and $15.99 per month.
Turbo Lister – eBay’s free bulk listing tool.
http://solutions.ebay.com – third-party solutions
http://www.ebay.com/community
Websites – should have home page, services, fees, testimonials, hall of fame (past listings), ebay listings page, contact
Mambo
Places to list your business:
http://www.google.com/local/add
http://www.switchboard.com
http://www.yellowbook.com
http://yp.yahoo.com
http://www.craigslist.org
Recommends against offering to clean or restore.
Label client items.
“Remember the breaks!” – starting and reserve prices and price point breaks.
Sample ad:
We perform miracles every day on eBay! Sell through us without the hassle – we do everything! Call today for more info: (etc)
Selling the items under your own account means you maintain control.
You may start out paying your clients frequently to increase client satisfaction. As business grows you will need to slow down the frequency just because of the demands of time and energy.
By paying his clients on a monthly basis attracts a less desperate and more upscale clientele. This also gives him time to make sure the buyer is satisfied.
Include attributes on the submission form to allow 10 days for payment bounces, positive feedback and expiration for returns.
“When the going gets touch, the diplomat gets going.”
Save everything!