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November 30, 2006

C O N T I N U I N G E D U C AT I O N

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Big Tips for Small Entrepreneurs

EBay expert Barbara Weltman shares the secrets of successful e-commerce
rate job, and was devastated. But she
started doing computer consulting, and
also began a side business on eBay selling
handbags. She makes about $50K a year,
and its proven to be great security for
her, more then if shed had a job.

By Caroline Jaffe-Pickett
Barbara Weltman is one of the nations
leading authorities on small business. She
has written several top-selling books,
including The Complete Idiots Guide to
Starting an eBay Business, and is a
columnist for Inc.com, Staples.com and
the Hudson Valley Business Journal.
Weltman has also been featured in The
New York Times, The Wall Street Journal
and The Washington Post. She is scheduled to teach a Learning Annex class on
how to build a thriving eBay business on
Dec. 14, and again on Jan. 15, 2007.

: What trends in small business

do you foresee in the near
future?
A: Given rising commuting costs and
changing demographics, there is going to
be much more interest in home-based
businesses. As it stands now, 1.3 million
people already make a living on eBay, and
over 3 million depend on eBay for income
in some way.

: Describe your background

and any early influences that
led to your interest in small business.
A: Im an attorney, with a degree from
Brooklyn Law School, so Ive worked
with many businesses over the years
helping them get started. It was exciting
to see businesses grow from the ground
up. Deciding on law school was a spur of
the moment decision, but it opened up a
whole world for me, and led me to writing
and teaching, which is what I do now primarily. I run seminars and am also
adjunct professor at Manhattanville
College in Purchase, where I teach
Principles of Entrepreneurship. Before
all that, my dad had his own business running a machine shop. That was my first
exposure to small business growing up,
so I would have to say he is my greatest
role model.

Small business expert Barbara Weltman is scheduled to teach a Learning Annex seminar on building a thriving eBay business.

: How did you come to be an

eBay expert?
A: My husband has been a Powerseller [a
top eBay seller] since 1998, and I learned
by working with him. I started out doing
all the packing and shipping.

the tricks and tools to optimize a listing

[and] drive traffic to your listing. You
want to maximize your web presence by
having your own web site, for example,
or using some of the eBay tools, such as
the eBay stores.

: What do you think are the

most prevalent myths about
eBay?
A: If you post it, it will sell, is one of the
most common myths. EBay is highly
competitive, and you really have to know

Q
Q

: Whats your best advice for

todays small business entrepreneurs?
A: My best tip would be to do your homework first and lay the groundwork.
Research all you can about the products.
If you are selling shoes and everyone else
is too, you have to be able to buy and sell
at competitive prices or you wont make
moneyso sourcing is huge.

: What is the most common

question your students ask?
A: There is noneevery situation is so
unique. With eBay, there is a broad range
of experience, from newcomers to the
more established. But in general, everyone wants helps with streamlining procedures and developing systems so they
arent recreating the wheel, particularly
with multiple listings and tracking issues.

: What are the common pitfalls

for small business owners or
those starting a home based business, and how can they avoid them?
A: People are very casual with their
records, and it catches up with them in all

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kinds of waysproblems with inventory,

taxes, suppliesevery aspect of their
business. You must maintain accurate
books and records, keep receipts, and
develop good business habits. Many
small business owners use accountants,
and Im a big believer that if you can
spend more time making money, that
should be the goal.
: Do you have any student
success stories you can share?
A: A woman was fired from her corpo-

: Whats the best eBay resource

you recommend?
A: Theres a free website called Auction
Bites, (auctionbytes.com), which features eBay news blasts. Its a great
resource.

For more information, contact the

Learning Annex at 212-371-0280 or
visit Barbaras website at www.barbaraweltman.com.

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