Today’s question comes from a subscriber of the Wholesale Help YouTube channel, this is his question:
I like your videos, I wish I would have found them before I ran into my little problem. Could you please help me? I am new to eBay and selling online. I paid someone who was supposed to be a expert and it did not work out at all, as a matter of fact about $400.00 of not working out.
I am looking for a mentor and someone who knows how to sell and find what to sell. I have a job and only make $9.00 an hour. I lost everything in the recession and I am starting all over again. The person I was supposed to be learning from is a certified ebay trainer and I thought I was safe this was not the case. I can explain more if you like but I am really looking forward to finding someone who could help me be successful on ebay can you help?
Thanks for getting in touch, I know it can be hard to get started online. I guess sometimes I make it sound easy and simple but life has a habit of kicking you when you’re down and I know that’s not easy, so thanks for taking the time to tell us your story.
I’ve had my share of disappointments in the early years so don’t loose faith. I put my money and trust in someone who then let me down and took my money, I lost all the profits I had built over the first 6 months I was trading on eBay in one bad deal, that hurt, I was angry at myself and it took awhile to get the motivation to start again, but I DID start again, I picked myself up and went at it with more determination than ever, I’ve had many people tell me I was wasting my time online over the years but I kept at it, and when it got tough I dug deeper. Turn this bad experience into a positive, don’t think of it as a total loss think of it as a $400 lesson! 🙂 Now you have nothing to lose and everything to gain!
I’m guessing you don’t have allot of money to invest in stock right now, so what you need to do is build your business from the ground up, this is no bad thing because you can build it with strong foundations and learn as you go.
My advice is to build up your buying budget, you need to build up $500 to $1000 before you can buy wholesale ideally or its just not worth it, don’t worry we can get there you just need a bit of hustle!
Watch my thrifting series on Youtube and read the article I wrote about buying used items for a profit, this is your best bet as you can buy items for very little money like $2 or $3 and sell them on for anything up to $20 or $30.00. These are realistic figures too, I’m doing this regularly on one of my eBay accounts and I’ve sold items for much more than that too.
Using this method you can keep your costs low and build up your profits, keep reinvesting your profits into more of the same stuff and you will soon have a profitable business going. Find some good brand names that will be popular that will show up in the eBay search terms. “Armani shirt” will get allot more traffic than “dark blue shirt” when listed on eBay, you get the idea.
Get the basics right first then you can move on to the bigger stuff later, offer a good buying experience to your customers, ship on time and keep in touch to let them know what’s going on. Concentrate on the basics of selling and build your momentum, this is the key, get things moving, sell stuff, post stuff, buy stuff, sell stuff. Keep this going and your business will build, thats all you need to know.
Don’t worry about anything else right now, check out your local yard sales, thrift stores, anywhere you can find good deals and make it happen, find good quality items in good condition, watch my other videos about how to take great photos and get your items listed. Rinse and repeat.
This will build your confidence, build your experience, build your ebay account and build your profits too.
Give me a shout when you have a thousand bucks and we’ll crank it up a notch. 🙂
All the best,