Starting an eBay business can be a great way to make money online, but there are several common mistakes that many people make when starting out. Here are 10 mistakes to avoid when starting your eBay business:
Not researching the market:
Before you start selling on eBay, it’s important to research the market to determine which products are in demand and what the competition looks like. Failing to research can lead to poor sales and wasted time and resources. Knowledge is going to be the difference in your success compared to other resellers, take the time to gain the knowledge.
Ignoring eBay’s policies:
eBay has strict policies concerning what can and cannot be sold on its platform. Ignoring these policies can result in account suspension or even legal trouble. The number one priority of our Reseller University Success Formula is ‘health’ ensuring your account does not fall into trouble is imperative!
Poor product descriptions:
Accurate and detailed product descriptions are crucial for eBay sales. Poor ‘quality’ descriptions can result in returns or negative feedback.
Neglecting customer service:
Providing excellent customer service is essential for building a loyal customer base. Neglecting customer service can lead to negative feedback and lost sales.
Setting unrealistic prices:
Setting prices too high can result in poor sales, while setting them too low can lead to lost profits, finding the balance between the sell-through rate and selling price is a crucial skill to learn.
Failing to optimiSe listings:
Optimising listings with relevant keywords and high-quality photos can increase visibility and improve sales. Number two in our formula is quality and how to create a quality listing is a key topic at RU.
Not tracking expenses:
Keeping track of expenses is important for managing profits and taxes. Failing to track expenses can result in financial difficulties down the line.
Not investing in shipping materials:
Investing in quality shipping materials can ensure that products arrive safely and in good condition, leading to satisfied buyers and positive feedback. We have seen resellers sending items out in cereal boxes and pet food packaging and although we are all for recycling this is not a practice we advise when building a quality reselling business.
Underestimating the competition:
The eBay marketplace is highly competitive. Failing to understand and stay ahead of the competition can lead to lost sales and missed opportunities. Learning from what your competitors are doing great and also the mistakes they make is a pro tip.
Poor time management:
Running an eBay business requires effective time management. Failing to prioritise tasks and manage time effectively can result in missed sales and lost profits.
Always consider are the actions you are taking are in line with the mission and vision of your business and the life you want.
Starting a reselling business can be a great way to make money, and eBay can be an amazing vehicle to create wealth, success and fulfilment but it’s essential to avoid these common mistakes to ensure success. By researching the market, following eBay’s policies, optimising listings, and investing in customer service, shipping materials, and time management, you can set yourself up for a successful eBay business.
“One time I found a cool Ralph Lauren Jumper for £40, and it sold within minutes of being listed. I was super happy as I only paid £4, to make a quick sale... but only until I checked comps and realised it was worth £100s Oops”
Optimise your eBay business with Reseller University's ebook, "eBay Reselling Secrets." Sign up today to learn more!
Free EBook
Topics covered in the is article include : eBay business, common mistakes, starting, research, policies, product descriptions, customer service, pricing, listings, expenses, shipping materials, competition, time management.