Making money online is a popular trend
Buying and selling on eBay isn't a new trend but it's easier now than ever to establish yourself as a budding entrepreneur.
Hugely popular and well known, eBay started as an auction site in the 1990's and has since become one of the biggest online market places,with figures from 2011 showing there are more than 97 million active users globally.
Whether it's creating a fortune or generating a little bit of cash to help out each month, making money from eBay can be a quick and easy way to generate profit. The site gives customers a comprehensive set of tools to enable them to set up an account quickly and begin selling.
Cash-strapped fashion university student Liz created her eBay account "My eBay wardrobe" which earns her money to help fund her studies. Self confessed fashion addict, Liz flogs her old wardrobe online, giving 10% of her funds to TeenageCancerTrust.org. After builing up a 5 star reputation, Liz's page generates interest from all over the world.
Nothing can guarantee a success, but follow some top tips to help get started.
Analyse the market - before you start selling or buying any product to sell on, make sure it's needed in the market as putting out the wrong products could lead to unsold stock and cash flow problems.
Do your research - if there's a similar trader selling your product look at the way it's marketed and make sure you follow eBay's guides to correctly list a product so your customers know exactly what they're getting.
Build up a reputation - there are features that enable customers to feedback their opinion on your customer service and reliabilty. Fast delivery or friendly service will build you a good online profile and customers will re-visit your site.
Distinguish yourself from others - this can be difficult to begin with and there's stiff competition in the crowded market but once you've found a niche, customers will come.
eBay.com gives some extra advice on starting up and there are plenty of reviews and guides to help maximise profits and avoid mistakes.
Tagged in Money Advice