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Many people admire American entrepreneurs. But it wasnt always so. About 20 years ago, entrepreneurs operated in near anonymity. We knew people were out there starting and running businesses, but we didnt give them much thought. Most of us aspired to corporate success climbing the corporate ladder was a lauded goal. Then things changed. Corporate ladder-climbers gave way to a sea of entrepreneurs. In the 1990s, millions of Americans turned to business ownership, first as a way to pay the mortgage between jobs. But these accidental entrepreneurs (as I call them) discovered they loved being in charge of their own destinies and never looked back. And an entrepreneurial revolution was born! Fueling this revolution was technology, which had become smaller, more affordable and much easier to use. Entrepreneurs (who needed every advantage they could find) embraced technology, which helped them start, grow and innovate for less money than they ever thought possible. E-commerce became an accepted (and welcomed) way of doing business. Soon, the business owners who had started these small, often homebased companies found they needed help. So they started hiring. The people they hired started spending money in their communities, leaving local entrepreneurs in need of more help. So they started hiring. And so the cycle went. By the time we got to the end of the 1990s, it turned out that entrepreneurs had created most of the jobs (75 percent) and innovations (55 percent) in the entire decade. And that trend continues todayonly its even easier to start a business in this century. Often, all it takes is something to sell and a way to sell it. And for hundreds of thousands, eBay has become that way. This booklet is filled with tips and ideas you can use right now to start (or grow) a business on eBay. Youll also find out how eBay and the U.S. Postal Service have teamed up to make running a business on eBay even easier. And youll hear from some eBay entrepreneurs, people just like you, who went from thinking about starting a business to becoming successful business owners. So cmon. Its not too late to join the entrepreneurial revolution!
C O N T E N T S
2 GETTING STARTED
Lay a strong foundation for your eBay future. Pick a great User ID,set up a Sellers Account, and get all your basics in order.
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you build your brand, increase awareness and test your market what more are you waiting for?
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Must have! Want to know more about starting and growing a business on eBay? Make sure to get a copy of Entrepreneur's new eBay Startup Guide, on newsstands everywhere August 30, 2005. EBAY and the eBay logo are registered trademarks of eBay Inc. 2005 United States Postal Service. All rights reserved. Eagle symbol and logotype are registered trademarks of the United States Postal Service.
RIEVA LESONSKY
editorial director entrepreneur magazine
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Getting Started
( 1 ) REGISTER ON EBAY
Go to www.ebay.com and click Register.Youll choose a User ID and password and then enter your contact information.
offer PayPalin fact, the study showed that these listings are 6 percent more likely to sell, and experience a 5 percent average increase in final price. Sign up at www.paypal.com, and make it your preferred payment option in your item listings.
eBay has allowed me to never tell a customer no. If there is a market out there somewhere, eBay can usually help me out. Tux MacAuley, auction-partner
stance, businesses spent more than $3.3 billion purchasing business equipment on eBay.
H U N D R E D S O F T H O U S A N D S O F S E L L E R S M A K E A PA R T-T I M E
O R F U L L -T I M E L I V I N G O N E BAY . T H E R E A R E M A N Y PA R T S
T O R U N N I N G A B U S I N E S S O N E BAY, I N C L U D I N G F I N D I N G
( 5 ) GET ID VERIFIED
PRODUCT TO SELL, SETTING PRICES, MANAGING LISTINGS
A N D C U S T O M E R S , U N D E R S TA N D I N G L E G A L R E Q U I R E M E N T S ,
U. S . P O STA L S E RV I C E . W H E T H E R YO U R E G E T T I N G R E A DY
You can use the ID Verify option instead of, or in addition to, giving your credit card information. Youll need this if you dont have a credit card. And you might want to do it so youll be given an ID Verify icon in your feedback profile, giving the eBay community more confidence to buy from you and allowing you to bypass some feedback requirements when selling in certain formats.
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S E L L E R , H E R E A R E 1 0 1 T I P S TO H E L P YO U TA K E YO U R
B U S I N E S S O N E BAY A S FA R A S YO U WA N T I T T O G O .
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sell in. Study the Category Tips at Seller Central (www.ebay.com/sellercentral) to learn about the basics of selling in each category, top buyer searches, success stories and specific selling strategies.
eBay is the fastest way to maximize returns for in-demand products and liquidate slow-moving or unusual products. Neal Sherman, tagex
( 2 9 ) USE A RESERVE PRICE ONLY WHEN NECESSARY
The allure of eBay for buyers is that they have control over what theyll pay for items. Setting a Reserve Price can make buyers think you want too much for the item because this number is hidden. While listings without a Reserve Price typically get more bids,it may be necessary to protect your investmentso use the feature with caution.
( 3 0 ) TRY THE BUY IT NOW OPTION ( 2 5 ) RESEARCH HOW MUCH SIMILAR ITEMS ARE SELLING FOR NOW ON EBAY
Run a keyword search for your item or similar items to check out your competitors.Take notes on the starting bids, current bids and Buy It Now prices. Using this pricing option allows shoppers to buy your item immediately, at the price you set. A starting bid that is much lower than your Buy It Now price can also start the bidding battle. (The Buy It Now price will disappear once the first bid is made.) You should use the Buy It Now option only when you are sure of the market value of the item. Letting the market decide the price can oftentimes yield a higher price on a unique or in-demand item. Do your research first.
Although you dont have to set your starting bid to the minimum (1 cent), a low starting bid invites shoppers to make immediate bids and keep track of your listing by clicking on the Watch This Item link.
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Theres a high level of integrity among eBay buyers and sellers. eBay puts people in business when they couldnt have gotten there any other way. Don Cohen, toolking
for your items. Also see where competing items have been placed. Its a good idea to choose two categories for your listings to reach more buyers.
this time frame to respond to unplanned tasks that pop up that day.
( 4 6 ) USE MY EBAY
Make sure to use My eBay to monitor your listings and activity on the site. My Messages can also help you keep track of your eBay correspondence.
Sourcing Products
( 4 7 ) CHECK OUT GARAGE SALES
There are probably garage sales in your neighborhood every weekend. But shop wisely. Its important to know which categories you really want to focus on and the kinds of products to look for.
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eBay lets me pick up whatever I need on a moments notice and have it delivered directly to my door. eBay is a terrific educational tool for people just starting out. Roman Kaniuga, rexrogo
sold in other cities, states or countries. Take this promotional merchandise to eBay, and sell these great gifts to buyers who cant travel to your hometown.
( 5 1 ) LOCATE WHOLESALERS
Buy items in bulk at a significant savings. Type wholesaler into a search engine such as Google or Yahoo!, or check out eBays wholesale category at http://pages.ebay.com/catindex/ catwholesale.html.
Donate part of or the entire final sale price to your favorite nonprofit organizations. Support your community, and your charity listings will get additional visibility along with a blue-and-yellow ribbon icon. Search more than 5,000 charities at http://givingworks.ebay.com.
( 5 2 ) CONSIDER MANUFACTURERS
When manufacturersitems are on sale, you can buy and then resell them on eBay. You can also contact them about being their eBay reseller. It might be difficult to connect with big brands until youre a successful PowerSeller, so start with local or small manufacturers. PowerSellers can also find products available in bulk directly from manufacturers at the Reseller Marketplace (www.ebay.com/reseller).
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Without eBay, we couldnt have grown as fast as we have. eBay just makes everything easier. It has given me the financial security I need as my business grows. John Homechanh, 4greatlaptops
instead, so that you can both try to work the situation out to achieve mutual satisfaction.
count.Go to eBay Preferences in My eBay and turn on the shipping preference for Offer Combined Payments Shipping within Seller Preferences.
and stickers with your eBay Store name or URL can catch the eye of many potential customers.
( 7 8 ) GO INTERNATIONAL
Visit eBays Global Trade Center (http://pages. ebay.com/globaltrade) to learn selling and shipping tips for expanding your business to a worldwide audience. The U.S. Postal Service offers a variety of global shipping options to meet your buyers delivery and budget needs.
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free (http://pages.ebay.com/storefronts/collateral. html) or visit NetPost Business Connect at www. usps.com/netpost to create and mail advertising and promotional messages to your customers.
Without the deals on eBay, Dr. Brad Roach (bradwins) wouldnt have been able to remodel his clinic. Since the remodel, business has been booming, with about a 35 percent increase in gross revenue.
( 9 9 ) ADVERTISE OFFLINE AND GET 25 PERCENT OF YOUR ADVERTISING INSERTION FEES REIMBURSED
Through eBays Co-op Advertising program (www.ebaycoopads.com), when you advertise your Store offline, eBay will reimburse 25 percent of your Advertising Insertion Feesup to $8,000 worth. (This opportunity is exclusively for PowerSellers in good standing who operate eBay Stores or are Trading Assistants.) Plus, you can earn up to 75 percent off your final value fees by driving traffic to your Store from web pages outside of eBay. Get more details at http://pages.ebay.com/storefronts/ referral-credit-steps.html.
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