Selling Stuff Online, 10 Things To Know: Ebay Business for Beginners

Summary

In this video, Scott (Cha-Ching King) shares valuable insights from his and his wife’s journey of selling online since 1999. He highlights ten key lessons, including the importance of setting high goals, understanding eBay's shipping tools, avoiding scammers, and valuing your products appropriately. Scott emphasizes the need for good inventory management, a solid schedule, and taking advantage of global shipping to expand sales. He also encourages aspiring sellers to engage with the reseller community for guidance and growth. His tips aim to help newcomers avoid common pitfalls and thrive in the world of online sales.

Takeaways

• 😀 Don't sell yourself short – aim higher than you think is possible. Your potential in online selling is vast.
• 📦 Learn how to ship efficiently and take advantage of eBay's discounted shipping rates through USPS.
• 🚫 Scammers exist but are not as big a problem as you might think. Stay on the eBay platform to avoid scams.
• 🖨️ Invest in basic shipping supplies: a printer, tape, poly mailers, boxes, and a scale for accurate shipping.
• 📏 Know the difference between USPS Priority and First-Class Mail. It can save you money on shipping.
• ⏰ Create a schedule to manage your time effectively. Time management helps you list more items and stay balanced.
• ⚠️ Avoid selling certain trademarked brands or using restricted terms like 'Velcro,' 'Xerox,' or 'Onesie'.
• 💰 Don’t undervalue your items. Research comps to determine a fair price based on what similar items are selling for.
• 📂 Set up a solid inventory management system early. It’ll help you locate sold items easily and prevent mistakes.
• 🌍 Enable Global Shipping once you’ve got some feedback. It can expand your reach and increase sales internationally.
• 🤝 Join the online reseller community. Learn from others’ experiences, share advice, and gain support as you grow your business.

Q & A

What is the most important lesson Scott and his wife learned when they started selling online?

The most important lesson they learned was not to sell themselves short. They initially set low goals, like covering their $15/month store fee, and didn't realize the potential of online sales. Their actual earnings far exceeded their expectations, with an average of $10,000 a month by 2023.

What mistake did Scott make when shipping leather wrap bracelets?

Scott and his wife made the mistake of not understanding the cost of shipping small, non-flat items. They assumed it would only cost around 55 cents to ship but found that the cost was much higher, leading to two months of unnecessary delays before they figured out how to properly ship them on eBay.

What advice does Scott give regarding dealing with scammers in online sales?

Scott advises not to communicate with potential scammers outside of the eBay platform. He emphasizes that while scammers do exist, they are not a significant part of the online selling experience. By sticking to eBay's secure messaging system, sellers can avoid common scams like overpayment or address manipulation.

What basic supplies does Scott recommend for selling online?

Scott recommends having a printer, tape, poly mailers, boxes, and a scale as essential supplies for shipping from home. These tools allow sellers to print shipping labels, pack items, and manage shipping costs effectively without needing to visit the post office.

What is the difference between USPS Priority Mail and USPS First Class, and why is it important?

USPS Priority Mail is used for items over a pound, while USPS First Class is for items under a pound. Understanding this distinction helps sellers choose the right shipping option, which is crucial for cost efficiency, especially for small items like clothing.

What time management tip does Scott offer for running an online business?

Scott emphasizes the importance of building a schedule into your business to maximize efficiency. A schedule helps ensure that you stay organized, complete more tasks like photographing and listing items, and still have time for other aspects of life.

What are some common brand restrictions Scott recommends avoiding?

Scott advises avoiding selling items from certain brands like Velcro, Xerox, Otterbox, and Beachbody, as well as not using their names or images. Violating these restrictions can result in eBay or legal issues.

Why is it important to take your own product photos instead of using stock images?

Using stock photos that you don't own can lead to copyright issues with the companies that own the images. Scott recommends always taking your own photos to avoid these problems and to ensure your listings are compliant with eBay's rules.

How can new sellers determine the right price for their items?

Scott recommends using eBay's 'comps' feature to research similar items that have sold. This helps sellers set realistic prices based on actual sales data, preventing them from undervaluing their products.

What inventory management advice does Scott offer to prevent problems with lost items?

Scott suggests organizing inventory with clear labels, like using tubs or shelves and assigning a SKU to each item. This ensures that when a sale is made, the item can be quickly found, avoiding the risk of canceling a sale due to lost products.

How does turning on global shipping affect an online seller's business?

Scott recommends turning on eBay's global shipping program once a seller has some positive feedback. It allows sellers to reach international buyers without worrying about international shipping logistics, and it can increase sales by reaching markets where items may not sell domestically.

What role does the online reseller community play in Scott’s business journey?

Scott highlights that being part of the reseller community on platforms like YouTube and Instagram has been enriching. He learned a lot from other resellers, which helped him avoid mistakes and improve his business practices. He encourages new sellers to connect with others for support and advice.