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How to make sure that your eBay business does not fail
Added: (Wed Aug 20 2008)
One of the fears, and unfortunately the realities for some eBay sellers is that their business is failing. Possibly they are new and don’t know how to make money selling on eBay, or maybe there are seasoned experts who are seeing their business slowly drift away. It doesn’t matter which, as the sales continue to slowly dry up, covering the overhead that exists with all businesses becomes a bigger and bigger problem.
One of the things that those who know how to make money selling on eBay know is that it takes a complete review of their business and creative new ways to continue business when sales drop and don’t come back. Those sellers know that the examination of their business needs to include the basics such as listings, photos and their eBay store.
However those who know how to make money selling on eBay also know that their examination needs to include a look at the marketplace. For example:
• Has the market for their product fallen?
• Are there new competitors in the marketplace?
• Is there a competitor who is now undercutting pricing?
• Have they failed to diversify their product line?
• Have they added enough new ‘hot’ products?
• Have they established ‘fixed prices’ that are above the market?
A better, more proactive step to take would be to continually examine the marketplace. Those who know how to make money selling on eBay know that taking proactive steps can make all the difference. By being aware of what is happening in the marketplace early on, adjustments can be made. Those adjustments can happen prior to losing a foothold in the market. One of the keys to make money on eBay is maintaining a very positive feedback record. Sellers are continually challenged with the problem of providing feedback to buyers and then receiving positive feedback for their hard work in return. Yet those same sellers know that they must do everything possible to ensure the positive feedback keeps coming. In fact, their goal is to maintain a 100% positive feedback record.
The question is whether it is better for a seller to provide feedback to the buyer immediately, or is it better to wait until feedback has been received from the buyer. By withholding feedback, there is some power and control over buyers. Obviously, if a buyer gives negative feedback the seller is positioned to do the same thing.
There are arguments that support sellers provide immediate positive feedback. By immediately providing positive feedback to every buyer, the seller is setting the stage to receive positive feedback in return. By immediately providing the positive feedback, some argue that the total number of positive feedback comments will also be much larger. To make money on eBay, the total number of positive feedback comments lays the groundwork for a higher percentage of buyers providing feedback.
On the other hand, as the argument goes, there is little recourse if the positive comment has already been given to the buyer and the buyer decides to make an unearned negative comment. Those who make money on eBay know that even one negative comment can be fatal to an eBay business. This is a true statement whether the negative feedback is warranted or not. Had the seller’s comments been held back, they could then respond with negative feedback in return.
The final decision regarding feedback is up to each seller. Decide whether to provide feedback immediately, or following receipt of buyer feedback. To make money on eBay, be sure that you do provide feedback to each and every buyer.
Know how to make money selling on eBay. Do that by recognizing and then addressing changes in your business. Continually adjust business operations as needed. Be proactive and be successful on eBay.
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