Well, I’ve deep my toes in many things along my entrepreneurial journey, so I kind of want to go over my 5 step new reseller game plan for ebay.
I started my ebay store on October 18, 2023 so I only have been open for about 11 days so far and have no sales as of yet.
That is completely normal.
Most new ebay sellers do not start making sell until their third week based on my research. And I will be sure to keep you updated about this.
So, here is what I’ve decided to do based on what I have learned so far, and hopefully you can avoid some of my mistakes and format this 5 step new reseller game plan to fit your own lifestyle or business goals.
If you’re not a reader, you can watch the video.
Warning: There is no audio around the 16:18 mark for about 1 minute or so, I don’t know what happened because my raw file shows the audio during that section, but somehow it got wiped out when uploading to YouTube. No worries though. I’ll have more videos on the topic.
Step 1: Make The Decision and Hold Yourself Accountable
You need to first make the decision that this is something that you want to do and give yourself a timeframe in which to focus on it and see some results.
My thought process works in 90 day sprints. So, I want to see what happens over a 30, 60, and 90 day timeframe.
Side note: Personally, I love lifestyle type of business models based on my experience testing different types of business models. So, again… I’m am doing this as a test for myself.
I have made the decision to focus on one category at a time, so that I can learn for 30 days each category.
That way, by the end of the 90 day sprint I could be familiar with 3 different categories. It does take time to learn about new brands.
Step 2: Pick a Category to Start In
You hear a lot of ebay resellers telling you that you can start selling on ebay with no money. That is true.
Most people start with listing things from around their house on ebay, and then they flip that money.
When choosing things from around your home to sell on ebay, your store you will be general at first because you might have many different type of items you want to list for sell.
That’s totally okay.
It’s okay to have a general type of store, but as you start paying money for items, make sure those items are in the category that you want to sell in.
There is no point of just throwing money away. As you list more and more items, your store will begin to become more focused on the things you want to sell, not just from the items around your house.
Also, by listing the items you own already, you start without paying a dime, but you can also start to learn what sells and what doesn’t.
This can help you determine the category you’ll enjoy selling in.
Step 3: Set Clear Goals
It can be hard to set goals in the beginning, when you have no data to work with. When I typically start a business, I rarely start with monetary goals.
I start with action goals.
When you can get clear on the actions you are willing to take consistently in your business, I believe the money will follow and then you’ll start having data to work with and be able to forecast more accurately.
Here is an example of my “action” goals:
- Get to 100 listings
- Do it steadily, by posting 5 listings per day
They say for every 100 items you should be selling 1 item per day. That puts you at a 1% STR (Sell Through Rate).
You might get to 100 items quickly because you’re uploading things from around the house, but those items may not be “quality” or the branded items customers are searching for in ebay.
I’ve noticed that most ebay buyers are looking for brand names on ebay for the low prices.
Step 4: Make a Schedule to go Sourcing
My daughter and I just drove around at first to stop into some places to see where I would like to source from.
By me doing this, it shows me where the brands are, so I will know where to go for what I am looking for.
If you don’t know a brand that you are coming across, you should take a picture of that brand tag and go back home and research it.
That is how you are going to learn about new brands. Mall brands and popular brands you know about, but there are other brands people are searching for that you haven’t heard of or don’t even know people are interested in buying.
Also, make a schedule when you want to take your photos and list items.
I take pictures with my iPhone right now, but try and take as many pictures as possible and then save them in the draft, then post 5 of them daily.
Step 5: Gradually Start Making Systems and Process For Yourself
Don’t write your process or system right from the beginning because it will take some time for you to get into a rhythm of what works for you.
The more you do it, you’ll begin to switch things up because maybe something took to long. You’ll start adjusting things to work better for you.
Once you get into a groove and everything is going smoothly, that’s when you create an SOP (Standard Operating Procedure) for yourself.
You can write it out or you can record it.
I suggest you do this because once you get to a place where you want someone to take over that tasks for you, you just show them the SOP.
That’s a great way to duplicate yourself, and the person will be doing it just like you do it.
Determine how long it takes you to do things. This is very important because it will allow you to plan efficiently.
So, This is my 5 Step New Reseller Game Plan for Ebay
We shall see how everything goes. If you want to adjust this game plan for your own use and your lifestyle feel free to do so.
Wishing you the best in your reseller journey.