Sunday, June 5, 2011

Know Before Starting An Ebiz

Advice from an Auction Genius

Renowned eBiz author Sydney Johnson created the now-famous Auction Genius courses (http://AuctionGenius.com) to aid people wanting to create their own e-businesses. She shares some important tips for anyone looking to learn the online retail industry:

Tip 1—Start Small.

Many of Johnson’s students are eager to dive in head first, ready to invest all their savings into overseas imports or shopping network returns. But Johnson discourages such risky moves for two reasons.

• They haven’t considered all the costs—the enormous minimum quantities they’ll have to buy to get the discounted prices or the tremendous costs of shipping imports.

• They have little experience and, therefore, no way of knowing all that these transactions entail.
Says Johnson, “You’re going to make mistakes…The way to minimize any kind of horrible error is to go very small.” Don’t invest a lot to start with—learn with inexpensive items. Start with a minimum investment; and as you begin to make a profit, put that money back into your business rather than buying new golf clubs or tennis shoes.

Tip 2—Research the Market and Test your Results.

As you go, you’ll learn which products sell well and where you’re actually making a profit. Johnson has a “funnel theory” on finding your product niche: “You start really broad…you have huge categories. And then you learn how to do your market research and you funnel down and…get smaller and smaller until out the other end of the funnel comes a handful of products that you can really do well with.”

Tip 3—Start on eBay

EBay is a great tool for beginners just learning about online retail. There are several reasons why it’s a smart place to start:

• It’s quick, easy, and inexpensive.

• The traffic is built in, and the people that are seeing your listings are seeing them because they’re searching for your type of product.

• It’s a good way to get exposed to the ins and outs of the business.

Tip 4—There’s No Such Thing as “Get Rich Quick!”

Starting an e-business is just like starting any other business—it takes patience and persistence. Don’t expect to be magically rolling in money overnight. And don’t just jump at every “opportunity” that comes along for fear of missing out. Research it first—if it sounds too good to be true…well, you know... If you take the time to understand what you’re doing, there’s plenty of room in the e-commerce industry for you to make money.

No comments:

Post a Comment

Search This Blog

Back to TOP Back to TOP

Labels

NATURE OF GOD (325) KOOL CARS (268) COOL FLOWERS (224) COOL DIGITAL ART (206) GROUP PHOTOS (196) COOL PAINTINGS (193) COOL KIDS (188) COOL NATURE (177) ANIMALS (153) COOL FACE (153) JAZZY FACE (148) KOOL DESI (145) FACE_OF_SOUL (127) COOL DESI FACE (125) COOL FRUITS (124) KOOL BOLLYWOOD (124) COOL DESI (122) COOOL A1 (118) COOL BIKES (111) BIRDS (105) JAZZY BEAUTY (105) KOOL BUILDINGS (101) FLOWERS OF GOD (99) PAINTINGS (91) SAREE (86) COOL BEAUTY (78) FACE (73) COOL BRIDE (71) JAZZY WEDDING (70) TRANSPORT (70) COOL MODEL (68) JAZZY SMILE (61) WILDLIFE (58) SHIPS (57) WEAPON (57) CLOUDS (55) INSECT (55) COOL SUNSET (54) FUNNY (54) Make Money Online (54) SALWAR_ KAMEEZ (54) Airplanes (53) TREES OF GOD (53) Buildings Places (52) KOOL FANTASY (52) COOL ARCHITECTURE (51) FANTASY (51) MOUNTAIN OF GOD (50) SUN SET (50) UNDERWATER (45) COOL STILL PHOTOS (44) AUTOMOBILE (43) LEAVES (42) INNOCENT FACE (39) AMAZING (38) 3D (37) ANGELS FACE (37) BELIVE IT OR NOT (37) PEOPLES OF PAKISTAN (37) DULHAN_BRIDES (36) FLOWERS (36) ANGEL_FACE (35) KOOL 3D (35) ARMY (34) BOLLYWOOD (34) STRANGE (34) TECHNOLOGY (34) FAIRY_FACE (33) DREAM (32) Meditation Mind (32) god (32) COOL DREAM (31) DIGITAL ART (29) HUSN_E_MASHRIQ (29) SANWALI_SALONI (29) ANGELS (28) DRESSES (28) Energy Light (28) Google Adsense (28) JAZZY MODEL (28) BRILLIANT_NATURE (27) GORGEOUS SMILE (26) VIRGIN SOUL (26) COOL FASHION (25) TRAVEL OF WORLD (25) Blogging (24) FAIL (24) PHOTOJENIC_FACE (24) DREAMY_FACE (23) BUTTERFLY (22) COOL SMILES (22) MOON (22) SOUL_IN_SALWAR_KAMEEZ (21) BUTTERFLY_SAREE (20) KOOL NIGHT VIEW (20) COOL CELEBRITIES (19) DULHAN (19) INNOCENT DESI (19) KOOL EYES (19) SEA WILDLIFE (19) BRILLIANT SAREE (18) NATURE (18) PAKISTANI KIDS (18) JAZZY FASHION (17) OWN Website (17) COOL GREENERY (16) DESI SMILE (16) FASHION (16) FUTURE (16) HORSE IN BEAUTY (16) REPTILE (16) SAWALI SALONI A1 (16) Business (15) COOL BIRDS (15) FAIRIES_GROUP (15) SEO (15) VIRGIN FACE (15) WATER FALL (15) ACCIDENT (14) AMAZING WILDLIFE (14) BUILDING (14) COOL EYES (14) EYES (14) FAIRY (14) HOLI (14) MEHNDI ART (14) NUMEROLOGY (14) SAWALI SALONI (14) SEO♥ (14) WAR (14) BIKES (13) PAK SALWAR KAMEEZ (13) ANGELS MELA (12) Affiliate (12) Art Of Desi (12) BEAUTY OF PAKISTAN (12) COOL BUTTERFLY (12) MOTHER IN LOVE (12) WILDLIFE IN LOVE (12) Blog Marketing (11) DREAMY_FANTASY (11) EZINE♥ (11) FORUMS♥ (11) PARTY BEAUTY (11) RAIN BOW (11) Traffic Generator (11) eBAY (11) ANGEL (10) ART (10) Investments (10) NAMES OF ALLAH (10) PAKISTANI POLICE (10) TRAVEL (10) WATCHES (10) WONDER (10) BRILLIANT_FLOWERS (9) EMAIL MARKETING (9) FIGHTING (9) GLAXY (9) Niqab Hijab (9) ANGELS_GROUP (8) COOL JEWELRY (8) COOL UNDERWATER (8) DREAMY (8) Environment (8) FOREX (8) GREENERY (8) MEHNDI_NIGHT (8) OLD IS GOLD (8) Tantra Kamasutra (8) COOL HIJAB--NIQAB (7) Domain (7) PHOTOGRAPHER (7) AMAZING WONDERS (6) Ancient Egypt (6) Articles (6) COOL MOON (6) CREATIVE PHOTOS (6) Decorating (6) FUNNY PAKISTAN (6) INTERNET (6) ISLAND (6) KOOL BOTTLES (6) MENDHI (6) PROMOTION♥ (6) PayPerPost (6) SMS ADS (6) SO HOT (6) SOUL_FLOWERS (6) UNIVERSE (6) Art Of Saree (5) COLORs (5) COLOURFUL NATURE (5) DIGITAL _ART (5) E Commerce (5) JAZZY PAINTINGS (5) SHADI_WEDDING (5) Viral (5) AIR FORCE (4) AMAZING PAKISTANI ART (4) Astrology Astronomy (4) BEAUTIFUL GIRLS (4) BOAT (4) BRILLIANT (4) Dreams Sleep (4) Dreamy_Art (4) FLAG OF PAKISTAN (4) Family Budget (4) GRASS (4) Galaxies (4) HEER_RANJHA (4) HIJAB (4) HOROSCOPE (4) HOT (4) INNOCENT (4) KOOL XP (4) LOVE OF INNOCENT (4) MOSQUE (4) MOVIES (4) Mysteries (4) PAK ARMY (4) PRINCES (4) RAINY DAY (4) SEASON (4) SHUI SITE (4) SNOW (4) girls (4) ADWORD♥ (3) Amazon (3) DESI (3) DIGITAL_ART (3) FABOLOUS_PAINTING (3) FREELANCING (3) GOOGLE♥ (3) JAZZY CLEBRTY (3) List Building (3) MUSIC (3) PAY-PER CLICK♥ (3) PAY_PER_LINK (3) Paid Surveys (3) RSS (3) SPAM♥ (3) SPORTS (3) AMAZING BEAUTY (2) BEAUTY (2) BEAUTY OF KILASH (2) BRILLIANT_ANIMALS (2) COMPUTER (2) COOL (2) Cool Gadget (2) DESERT (2) DREAMY_SUNSET (2) EAGLE A1 (2) EYE (2) Expensive (2) FISH (2) GOD_DREAM (2) HEALTH TIPS (2) HERO (2) Hourse (2) LAILA MAJNO (2) LAKE OF GOD (2) LANDSCAPES (2) LOVE PAKISTAN (2) MOUNTAIN (2) PARROTS (2) RECORDS (2) Reiki (2) SEASON OF LIFE (2) TIGER (2) VIEW IN AIR (2) WILD NATURE (2) ANIMAL (1) BRILLIANT_BIRDS (1) BRILLIANT_INNOCENT (1) Blog Directories (1) CAREER (1) COOL PETS (1) COOL_SPORTS (1) DREAMY SHOTS (1) FACE CARE (1) Furniture (1) GATE ART (1) Gold Trading (1) Home Remedy (1) LIPs (1) Marketing (1) READING eMAILS (1) SEA OF GOD (1) STONE OF SOUL (1) TOTKAY (1) ca3 (1)