Book Review: How to Buy, Sell, and Profit on eBay: Kick-Start Your Home-Based Business in Just Thirty Days

The eBay phenomenon may be the greatest opportunity for home-based entrepreneurs ever. With close to zero start-up costs and a worldwide customer base of 150 million people, the little guy can now compete on a level playing field with huge corporations. Although TV infomercials and eBay itself are teeming with hucksters trying to sell advice, wholesale lists, and auction software to help you jump on the eBay bandwagon, 99 percent of it is junk and unnecessary. In October 2001 Ginsberg had a modest business selling high-end pool tables and tried selling one on eBay on a dare. For him, the rest is history. He now runs a million-dollar eBay business and ships pool tables all over the country. This quick read is a pretty straightforward primer on the do’s and don’ts of starting your own (serious) eBay business. Since Ginsberg seems to hold back somewhat on the finer points of advanced online business management and product sourcing, you will have to do some of your own homework, but there is plenty here to get you started.

Starting an eBay business is effortless with these 10 simple steps.

With more than 2 billion items listed on eBay in the past year, and close to $50 billion sold, the sheer size of this online marketplace can be overwhelming. Fortunately, as eBay has grown, the company has worked hard to make it easier for new sellers to get started and be successful. Here are 10 quick and easy steps for building a business on eBay.

1. Just Do It
Some people aren’t sure where to begin, says Terry Gibbs, founder of IWantCollectibles.com and author of The Auction Revolution. Gibbs has been buying and selling antiques and collectibles online since 1997. At his business’s peak in 2002, Gibbs was auctioning more than 500 items per week. Although the pace of his eBay selling has slowed since, he says, “eBay is the best way to sell [an item] quickly for the most money.”

2. Create a Routine
Next, pick a block of time you’ll devote to your business on eBay. Set aside a certain part of the day, or particular evenings each week, to pack up auctions that have ended, list new items for sale and respond to e-mails from potential buyers, says Gibbs. Not only does such discipline stake out time for your new business, but keeping sold items moving out the door also helps make space for new merchandise.

3. Take a Good Picture
Though item descriptions are important, the photo may be even more essential. Buyers assume the photo is the best-case scenario–that the product probably looks worse in real life, says Justin Hartenstein, 25, founder of Advanced Automotive Concepts in Metairie, Louisiana, which sells custom car headlights. A good photo can make or break a sale.

4. Build Trust
Once you’ve got the eBay process down, your next objective is to boost your feedback rating–the number of positive responses you’ve received after transactions–which helps build trust with members of the eBay community. “If you’re new to eBay, trust is everything,” says Rogers.

5. Stick With a Niche
Once you’ve developed a process for regularly listing and selling items on eBay, it’s time to start specializing. Sellers who specialize in a particular product category have a leg up on people who sell a wide variety of goods. “Specializing gives me the ability to spot a deal,” says Gibbs.

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