How to make $80 in a month

NICHE MARKET

To raise for more merchandise and to make $400 in a week, you most likely auction off clothes, sporting equipment old doll collection…etc. but when you have sold your item packaged and shipped it safely, and received your money-what do you invest in?

The internet and the search engines that essentially guide people through the information super high way are great at getting surfers to the products they want. However, to make more money on e-bay or in any internet marketing venture you need to concentrate on a specific niche. This will help you save money because you can lump lower end products together in a ‘lot ‘sale. Plus, by consistently selling products from the same niches, it will be easier to standardize processes, vendors, and to become a true expert in your field.

Now there are really two ways to choose a niche market. With your heart or with your head. If you love antique furniture then it would be perfectly natural to want to sell items from this large niche. However, antiques and furniture are not the most popular categories and they can big items in your inventory- failing to make a sale or two may cause a cash flow crunch of you to take a large loss. It can sometimes be more difficult to maintain objectivity and make sound business decisions when you develop a personal attachment to the merchandise.

To help you find your niche, you may want to visit http;//www.pulse.ebay.com. from this page you can discover the most popular item that day to see what is hot. While you may not want or be able to sell those particular items, you should be able to see the trend or dominant category. For instant the most popular items searched on e-bay when this article was written are; 1 ps3 (2) wii (3) playstation (4) nitendo (5)Xbox360 (6) TMXElmo (7) ipod (8) PSP (9) ipod Nano (10) Apple ipod.

As you can see the entertainment electronics genre is a very , very popular category right now with some dominant sub-niches developing. However if you want to follow your passion and sell antique furniture, you could also check on pulse to find the most search items relating to that category as well so it is  a very useful tool in both finding, your niches and learning the market better. The important thing to remember is that the internet naturally favors the creation of niches so you need to specialize early on it no matter what.    

WRITING SALES COPY FOR YOUR PRODUCTS

If you have any hope of selling $400 worth of products on e-bay in 7 days or less- the good news is that you don’t have to write that ‘killer sales copy’ in order to be successful. However, there is a distinctive between copy writing for print… and copy crafting copy for the internet. To get the maximum number of people to view your product or products and potentially place a bid – you need to write descriptive copy that is accurate and keyword rich – especially the title. What you really need to understand about e-bay in order to get the most people to view your object increases the bidding pool and ultimately drive up traffic-those words our potential customers are using to find your product. Using the same pulse feature, you can determine the best keywords to use when creating your ad for the product. It especially important to use the keyword in the headline or title but don’t be afraid to look at other ads selling similar products for inspiration and to borrow some good ideas! The copy needs to be descriptive accurate, and be keyword rich in order to be pull potential bidders in and possibly boost your profits.

REIVESTING A PERCENTAGE OF THE PROFITS

If you are only looking to raise $400 in a week or so while possibly cleaning out attic or garage, then there is no need to reinvest profits. But if you are looking to start a revenue stream and grow it into larger, then you will need to invest a consistent percentage of your profits into the company. Just a few of the common necessities most internet businesses, including e-bay auctioneers, need in the first two years include;

Accounting/tax software

Server/computer

Office supplies

Increased office Space

If you were an e-bay auctioneer who specialized in refinishing/repairing old antique furniture and then reselling it for a profit, then you would possibly invest in tools and equipment related to that activity. The point here is that for tax deductions and the possibility of building the business to a higher, more consistent level, you must reinvest a significant portion of your profits.

Ultimately, your determination and consistent hard work will pay off and you will start building a solid reputation as an honest and dependable business. In time and to grow your business even further, you will want to market your products or services in venues outside of e-bay. Ideally, diversification will become a priority as you look to grow the business through new revenue streams that help solidify you financial foundation.

Yes, you can make $400 or more in 7 days or less on e-bay (although it may take a little more time for the funds to transfer into your actual checking account) selling off collectibles, furniture, and other unneeded items that have accumulated over the years. Your initial cost ( if selling merchandise that ultimately sold for $400 would include the insertion fees($4.80) and another $20 or so in Final Value Fees (you are assessed 5.25% on the first $25 of the final sale price and then 3.25% on the remaining amount which in this case is $675 x .032% or roughly $20)

Other fees and/or costs that may eat into your bottom line include;

·      Paypal other merchant account fees

·      Electronic transfer fees by your bank

·      Buy it new fees

·      Seller tool fees

·      E-bay picture service fee

·      Listing upgrade fees

·      Reserve fees

       E-bay does indeed offer a lot of bells that really wreak havoc on your bottom line but the basic listing service, a compelling ad with relevant keywords, and a little hard work in all should need to successfully sell $400 in a week and walk away with approximately $350 in actual money. Remember, this is not actual profit in the classic sense but you could use that money to secure more merchandise and begin establishing yourself as a legitimate force to reckon with…or, you could go out and splurge on something you don’t really need and return back to your job the following day no closer to financial independence.

Six million people visit e-bay every day and you really can turn your old unwanted things, a computer, digital camera, and a internet connection into a sustainable and growing home – based business. Most people, however, just use it to raise a little extra ‘mad money’ and fail to realize the true potential… will you?