Having an open mind when running an eBay business

Running a business can take a lot of effort and time to ensure that everything is managed as effectively as possible. eBay businesses are no different; sometimes, they can be even more demanding. When we put effort and hard work into something, we often have expectations of success, but that isn’t always the case. That is why it is so important to have an open mind when running an eBay business and have no expectations. Below we are going to talk about how that can pay off.

Deciding what to sell

Firstly, you need to figure out what products you are going to sell. This may not be the item that comes to mind straight away or even feel massively comfortable with as you have little to no knowledge of it. Quite often, the most profitable and successful products are those that are more niche. By thinking outside the box and stepping away from your comfort zone, you can start looking into products that you may have stayed well clear from in the past. For example, trading cards are doing incredibly well online at the moment, but you may have never touched trading cards before, don’t let that stop you. You can always learn as you go.

Look for top-selling items

On eBay, you can see what items are selling the highest number of units. This is a great resource and hunting ground for those who don’t have a clear idea of what they want to sell and give you trends in categories differing from what you are used to working within. Being able to pivot your offering or expand the offering is vast when owning and running an eBay business.

Learn new skills

When you first set up a business on eBay, you may have thought that you just need to list an item and be done with it; that couldn’t be further from the truth. You will need to do some number crunching based on the cost of delivery, the listing price that eBay will charge, and the cost of the product itself; you will then work out a profitable price for you to work. There will also need to be a low level of graphic design as you want to make sure that the pictures for your listings look good and stand out; otherwise, you may well get a lower click-through rate. Speaking of click-through rate, understanding analytics and statistics when it comes to business is vital. A listing could be generating a lot of clicks. Still, few sales and a few simple tweaks to the listing itself may well change that. Still, without the proper understanding, there is a potential of missing out on the opportunity entirely.

Promote

Initially, the eBay business may have been created as you didn’t like to work on Social Media, or you expected it not to be as laborious as other businesses. Regardless of what platform your eCommerce journey starts on, you will need to develop a brand and voice for the company. Luckily, the brand will evolve. Still, it is not immediate, which is why it is vital to promote the eBay store. It can be done through Social Media, such as Facebook or Instagram, as their marketplaces are made with the exact purpose of being able to list items and sell them. eBay also offers Promotion Boxes to help you promote your items within a listing. You can make certain aspects more visible, such as a sale, or increase the prominence of your listing by giving eBay a higher listing fee, helping you get a leg up on the competition.

Be able to pivot

When you first carry out your market research, you will note that sales volumes for items in a specific sector can be subject to seasonality and therefore have highs and lows. That is why it is crucial to understand when to change and what to change the inventory too. One possibility would be cycling the list and designing the store around the seasonality of holidays and events such as graduation season or the Super Bowl. Something that isn’t selling in January of this year may well be the product to break sales records in August!

Play the long game

Regardless of the business that you start, the chance of becoming an overnight millionaire is incredibly slim. Remember, Rome wasn’t built in a day, and neither was any business that is profitable and successful. So take the time to make a list of short-term goals and a list of long-term plans to help you build some momentum and stay interested and engaged with the store. In the short term, be sure to play with different tools, use other methods until you find one that generates some good traction for you to build on.

The last word

Starting a business selling items on eBay can be incredibly intimidating at first with variety and competition. Use some of the information above, plus some more of your research, to get yourself off to the best start that you can. If you are struggling to get decent results initially, that is fine – it can take time for a strategy to build awareness and push through. Lastly, have fun and make mistakes. The more mistakes that you make when starting, the less you will make when fully-fledged, so use that time as your trial period!

Ten honorable side hustles

Over the past year, many people have changed how they work, whether that be their full-time role or something that they ventured into on the side while maintaining their job. Side hustles have become commonplace as people want to bring in more cash to pursue other interests. The best side hustles are flexible such as project-based work, and a lot of them are usually around a passion that you already have or use a skill that you have already developed over time.

Should you decide that you want to take on a side hustle to earn some more money, it does mean that you will have to work more hours than you have previously. That fact makes it so much more important that your side hustle includes something that you enjoy. We will give you a brief overview of the top 10 honorable side hustles that you can start doing.

Write a book

This may sound like it will take a lot of work, and it may at the start. If you have an idea for a book that you would like to write, do it. Once you have written the content, you can self-publish the book on Amazon. Writing a book can be done over a long time to work towards completion. After uploading the book onto Amazon, the book can generate passive income for you with no other work! As soon as someone buys the book, Amazon sends it across, and that is it!

Test websites for companies

Believe it or not, there are different places that you can get paid to test someone’s website. One such example is UserTesting.com. Once you go through their application process, they will send you different websites that they need someone to test, and you get paid up to $60 per test. You can do this ten times per day, but it is an excellent way to earn extra money every month.

Pet sitting or dog walking

If you love to spend time with animals, pet sitting or dog walking might well be the best side hustle that you can get. Gone are the days in which you posted a flier on a post hoping that someone would call for you to help take their dog for a walk. With technology moving at the rate it does, there are now different apps and websites that you can apply to be a dog walker, pet sitter, or even give overnight stays for pets. You could even build it to walk 3 or 4 dogs at a time at $20 per dog per hour. $80 for an hour walking doesn’t sound too bad.

Food deliveries

Throughout 2020 and even into this year, the use of different food delivery companies has grown tremendously, and they are here to stay. You don’t even need to drive; as long as you have a bicycle, you can start to earn some extra income in your spare time.

Item Flipping and Upcycling

If you are pretty good with your hands and have an eye for potential, you can bring in some good money through item flipping and upcycling. You can stalk different thrift stores, garage sales, or even online such as Facebook Marketplace. When you find an item you want, purchase it, make it look better with paint or different design traits, and then sell it for a profit. Starting can take time to understand what is quick to sell once relisted and what isn’t the best.

Social Media Manager

Do you spend your days on different Social Media platforms looking at various businesses and ads while getting your Social high? If so, Social Media Management could be ideal for you. You help different companies create and schedule content on various platforms while engaging with their audience and commenters. The earning potential varies massively depending on experience; some specialists charge $150 per hour.

Transcription Services

If you have spent a lot of time using computers, you are probably fast at typing. Fast typing is a skill that people will pay for if they can do it while listening to others. You will simply listen to audio and type out what is being said, nothing too complex. If you have a niche that you understand clearly, such as medicine, you will charge more.

Freelance Writing

A lot of businesses will have someone that they use to write their content. The content itself can be from lead-acid batteries to modest fashion, but you will find people that will write about anything if they can research it. This can be used as a blog or article; it can also be used as copy for a business to have on the different pages of their website. When you get to a decent level of experience, you can easily earn over $30 per hour.

Local Travel Guide

Some people know a lot about the town or city they live in and are incredibly passionate about it. If you are one of those people, why not get paid to talk about it? With apps like Airbnb, you can create local experiences that travelers will book and pay for. You can set the days and times at which the tours take place, giving you complete control.

Virtual Assistant

Should you be good at lots of different things, you can be a Virtual Assistant. VAs carry out many other jobs such as Social Media Management, email inbox organization, Sales funnel management, and more. Being a Virtual Assistant throws you into different scenarios that you would never have thought of, and you learn some unique skills. Pay rates range from $15-45 per hour, depending on specialist skills.

A side gig is something that you choose to do, so it must be something that you want to do. Over the next few months, we will be covering more about the different side hustles that you can take and do more of a deep dive into what is needed.

Why affiliate links are essential and how they can make you money if done right

As time has gone on and consumer usage of the internet has grown massively, the number of opportunities to make money online has multiplied yearly. Affiliate marketing is one such method that you may not have heard about or you may but are doing it wrong. The beauty of affiliate marketing is that you don’t need to spend money on stock or inventory; you don’t need to worry about customer service or deliveries. You generate leads for companies; once those leads convert, the company pays you a commission.

Now, this isn’t the standard salesman pitch in which you call people or go knocking on doors (maybe if you want to). All you need to start is a link. This link, once clicked, directs potential customers to a product or service that you are an affiliate of. Once you have a link, you can move onto different ways to get consumers to click on the link. We will cover some of the different ways you can drive traffic towards your affiliate links.

Find a niche

First thing, you need to find a niche that you want to start being an affiliate for. This will then help you decide what different channels you will use to drive traffic towards your affiliate links. Should you have a lot of knowledge about PC Gaming equipment, Razer has an affiliate program and pays you a 10% commission on all sales up to 30 days after the consumer clicks on your link (we will talk about the cookies after this). Once you have a niche, you can start to think about the target audience and design a strategy.

Understand the cookie limit

If you are relatively new to affiliate marketing, this may be something that you overlook when joining an affiliate program. The cookie length is the amount of time allowed between a user first clicking on your link and purchasing. If the limit has been set at seven days, but it takes the customer ten days to buy, you won’t get a cut. When deciding what affiliate program to join, it is crucial to think about this; if the product is $1200, but the cookie length is seven days, it may not be worthwhile as people will take a bit longer to decide on spending that amount.

Think about traffic before money

We know that you signed up for affiliate programs to make money, we all do, but before you can generate any income, you need people to interact with your link. Some affiliate programs require you to have already something set up that produces traffic, such as a blogging site. For example, if you have a blogging site, create blogs to help people with a problem. Once you generate traffic and are accepted by specific programs, add the relevant links to the blogs but don’t try and make money from day one!

Build a community

Whether you have a YouTube channel that you post videos to, a blogging website that you upload to, or even Social Media that you create content on, it is vital to engage with your audience. If people are leaving comments, respond to them, even if there are 500+ comments. It is a massive part of building a community, and it allows readers/subscribers to ask you questions and feel genuine.

You will also want to get more people to sign up for your mailing list. Different email marketing companies have other packages; some allow you to reach 2,000 subscribers before even paying. This list will be your honey pot when you have a new program or post a new blog or video. Keeping a list of email subscribers is essential in driving more traffic to your affiliate links and website/channels.

Avoid Penalties from Google

If one of your methods or traffic generation is your website, you will rely heavily on ranking on search engines. Make sure that you follow Google’s guidelines when it comes to affiliate marketing. When someone lands on your website, you need to make sure that it offers value to the readers. Otherwise, Google will penalize you and rank you lower and make sure that you write a disclaimer stating that you are an affiliate and may receive some form of commission if the reader purchases through any of the links on the blog.

Create the pitch

Ensure that all content you create to help drive traffic to affiliate links has the correct pitch. No one will click on a link to a hosting company if you make no mention of why they should engage in the video or blog. Stay on top of the newest features and benefits that the affiliate’s product has so you can use it to build more hype and generate more sales off the back of it. Once you have the right pitch, revisit it every month to ensure that it isn’t getting stale (if you are still promoting that link, of course).

Keep building

After you have one niche set up and have continuous traffic flowing through generating income, it is time to look at more niches. Creating more websites and channels covering different niches allows you to cast a wider net. One month, the gaming niche may only bring in $300, but the website development niche brings in $4000. Eventually, you should have multiple sites and channels covering different niches and have few avenues of income from affiliate links alone!

Affiliate marketing is a powerful way to build passive income and has the potential to generate more revenue than a 9-5, but it takes time. Using the information that we have given you will help make sure that you are always looking at the analytics to identify what isn’t working. Now get out there and make some money.

How much do I need to start a business?

That topic is a question that is often asked. There are over ten thousand related searches to this question on Google every month in the US. It doesn’t take a lot of money to start a business; this is often untrue. You will need to invest money and time in the future to help it grow, but to start, you don’t need to break the bank. We will talk about some of the essentials that you need to avoid, some of the pitfalls that new businesses fall into.

Understand your costs

One aspect of business that many start-ups fail to do is understand what they need to have and what they don’t. Going to a web design company on week one of your business to get a $5000 website designed is one way to expel your cash quickly. If a website is a must-have for you, build your website on a platform like Squarespace or Wix.com with a vision to revisit it once you get more cash flowing through the business. Sit down and work out precisely what you have already and what you need so that you have a decent idea of what your outgoings will be for the first few months.

Use the tools you have

In the current marketplace, there are many ways to promote your business online for free. The only real investment that you need to put in is time. TikTok is an excellent platform for companies to enter as it costs nothing to set up, and you can start creating content using your smartphone; nothing else is needed. As a new business, it is crucial to show the authenticity of being a new business as people will form around and follow you, helping you build an audience that you can work with without needing to pay to build it up. Email marketing is also a very low-costing channel that you can use to generate some interest and conversions. What matters with these channels is the content. You will need to put together some great content to engage new and existing users to build it up.

Keep your eye on the prize

No one sets up a business to fail; they also don’t set up a company to generate $100 per month but what is essential is that you don’t try and run before you can walk. Once you start to create some form of cash into the business, invest those profits into the business to help it grow more. If you try and expand before the company is generating enough profit, you will need to put more of your own money in, creating a problematic circumstance. Building a business with limited funds is possible, but it will take time, so you will need to be patient and let the company do the work for you.

Be equipped

Depending on the business you are starting, you may need to invest some money in equipment, such as tools, printing presses, computers, etc. Some companies only need laptops and a working internet connection to start, so they are incredibly low costing. Ensure that you take all equipment costs into account and make sure that you keep the receipts for tax purposes!

What is your entity?

It could also be a good idea to think about what type of entity you want the business to be. If you’re going to run it as a sole proprietor, you won’t need to register the company with the state, and you won’t need any paperwork to be done. Business deductions can be written off on your tax return. You will have to talk to your local CPA for more information on that. The same can be said for any business losses that can then be deducted from General Partnership. Another choice is registering as an LLC, which would mean that you wouldn’t be personally responsible for any debts or liabilities that the business does build-up, and you can also choose how the IRS taxes your LLC. It does come at a cost and needs to be registered with the state you are working within.

Inventive Inventory

If you are selling goods online, you may not need to put in a large amount of cash to start with. When you find a supplier with the goods you are looking for, you need to ask them if they would be willing to ship them to your customers. Generally, this is referred to as drop shipping. If you have a physical store, you will need to put some money into inventory to hold onto but only buy enough to fill the store. I know that getting the item for 5 cents less per unit seems attractive, but you don’t know if you can sell 2000 units when your store can only hold 100! When you start to sell the items, then buy more. Doing this will keep you within your means and give things a FOMO factor due to low numbers!

The final word

Setting up a business can be a scary process if you haven’t done it before, and it may feel like you are leaping. You don’t need to spend tens of thousands on your business before it starts generating any revenue, but you need to make sure that you have a business plan that covers as many bases as possible. Do your research and test the water with demand before investing heavily into an idea. Otherwise, you can be down before you know it.

The Social Generation

Social Media has been put front and center and is here to stay. Different platforms for different methods such as TikTok, Facebook, Twitter, Instagram, Pinterest, and more can sometimes feel hard to navigate and do it well. Is Social Media easier for the younger generation? We think it is easy for everyone, regardless of your age, but it is something that you need to learn and become comfortable with. We have put together some different aspects of Social Media that you should know about and master allowing you to take control of your social presence.

Content is king

Whether you run a bricks & mortar business or it is solely online, you have probably heard that content is king when it comes to your website. That doesn’t only apply to your website, but your Social Media as well. Think about the type of content that disrupts your normal scrolling when you are on Facebook or grab your attention on TikTok. It doesn’t only work for you. The businesses that do the best from their Social Media are the ones that have solid content designed to engage their audience and promote their business. Where do you start, though? You may be better off bringing in an expert such as Albuquerque Social Media, or you can ask some of your customers what they like to see from businesses.

Keep them coming

With everything moving online from training courses to retailers, more and more people are using Social Media every day, including your existing customers. The older generations have had to get used to using Social Media to call their family on video calls and take part in quizzes. This change brings about a new opportunity that businesses haven’t had before, use your Social Media to get existing customers to return time and time! Create content for returning and living customers to use a code or coupon that can be used on your website or in-store to drive the following and get more interaction with your customers. Not only do you start to build even more brand loyalty, but you start then evolving your customer base into ambassadors that will tell others about you!

Scheduling

Time is money when you run a business, so you want to make sure that everything you do is as efficient as possible. With Social Media, you can create content for the next month or longer, then schedule it to be released. This means that instead of having to log on every day and post while copying and pasting the hashtags, you can upload all of your posts in one go, and they will go live at a time of your choosing. Even if you have a creative moment one Sunday, you can create that content and add that in too. Social Media isn’t limiting to a specific time of the day; make it work for you and fit around your schedule.

Life is a competition

If there is one thing that everyone loves, it’s a competition. Using Social Media, you can drive more followers and generate customers by running contests. You may think that you will only get young people going on and competing. Still, the average age of Social Media competition participants is 30 years old, meaning that you will reach a broad audience and range of differing ages. With over 200 million active users over the age of 65 on Facebook alone, you can be sure that you can reach all age groups!

Word of mouth is changing

Everyone likes to talk about how great a particular business has been in dealing with their problem, and they love to talk about how poorly a different company didn’t help. How people talk about this has completely evolved. Long gone are the days when people would get together and talk about what they have been doing over the past week and tell all their friends about the plumber they had come in and do a job quickly without breaking the bank. Social Media has given new life to the word of mouth as consumers move more into a digital world. We constantly see when someone has passed their driving test with an instructor in the photo showing that they did a good job and helped them learn to drive through a post on Facebook. You will come across people posting about the new vehicle that they purchased from a dealership that they recommend. The upside to this is that the word of mouth you previously would have received may have reached 10-20 people, whereas now, it could reach 1k-2k+. People also can leave reviews on their Social Media pages which are more permanent than posts as posts can be drowned out by everyone else. Checks will remain on your page as long as your page remains live. Just be sure to use Social Media to your advantage when it comes to word of mouth.

Conclusion

We know that Social Media can be a scary concept if you have never used it before or have but just posted a picture of the food you had at the restaurant on Sunday. It is essential to understand that it is a skill and can be learned over time, but we know that not everyone has that time available to them while running a business on the side. It doesn’t matter what age you are; Social Media is something you can start tuning into and taking action on now. If you aren’t sure where to start, we can help. Everything mentioned in this article states what we can help you with for your Social Media presence. Go to https://albuquerquesocialmedia.com/ for more information.