How to Use the Virtual Inventory Model to Make Money on eBay with Little to No Upfront Investment
Many top sellers on eBay have been fortunate enough to come across a stash of free or low-cost items that they can turn around and sell for a hefty profit. But for complete beginners who are new to eBay, it may seem almost overwhelming – the sheer amount of (sometimes wrong!) information out there telling you what to do.
Many people ask me how they can start a business on eBay with little to no up-front costs. They wonder if it’s even possible and what route to take. The truth is – it is possible and being done by people online from all walks of life, every day.
Here’s how you can make money from eBay with very little upfront investment at all (or sometimes even none!)
If you want to get involved in selling products in volume with little or no risk what you need to do is you need to find companies that will let you sell their product on consignment or through what we call a virtual inventory model.
That’s to say that there are companies out there who will give you their artwork, who will give you images of their products, they’ll give you resources that you can use to sell their products for them.
A lot of people who acquire my audiocassette package can be new to eBay. They can be intermediate users. Believe me there’s a lot of people out there who do not have the skills that are required to sell on eBay.
There’s a lot of people out there who have great products but for one reason or another, maybe they’re running a business where they have a retail storefront, they would rather outsource the whole auction selling part of their business to someone to do that.
This provides great opportunities for those of you who want to help people sell products. If you go to the eBay homepage, and the help page for that matter, there is a link you can click on called Seller’s Assistant.
You can, with just a 50 feedback rating online, sell products for other people in your local neighborhood. That’s a great tool. I encourage you if you really want to minimize costs, sell products for other people initially and earn some money through them through selling their products.
But if you’re going to do that make sure that you specify in your contract with the person you’re selling the products on consignment for that they fulfill their obligations, that they pay you a rate that is appropriate for whatever the item is that they’re selling.
There’s some inherent benefits in selling products for other people using your name. You get a higher feedback rating and more feedback even though they’re not your products you’re selling. That’s a big plus.
You also get to acquire an email account for a customer who bought your product. So you can utilize that email contact information to approach the customer again who bought your product about other items you have.
So remember, before we had talked about the importance of capturing information and using continuity in your sales process.
This too is a great point that you need to stress and also that you can implement if you want to minimize your startup costs and sell products for pennies on the dollar.
Now the next question we have here from our listening audience comes from David from Cleveland, Ohio. He wants to understand how easy it is to manage your auction or auctions with ease.
Well, there’s a couple of vehicles you can use. There is a product you can get. Its a free product you can get from eBay. Its called Turbo Lister.
Turbo Lister is auction listing technology that helps you create your listings effectively, at certain time intervals, etc.
A lot of people will use Turbo Lister if they’re selling products in numerous auctions. For two reasons – one is its a very easy application to learn. Once you learn Turbo Lister, you can use it over and over again.
A second benefit of Turbo Lister is that you can literally do a hundred auctions a minute through Turbo Lister once you understand how it works – its functionality, its features.
You can program it to list auctions simultaneously with little or no effort. Remember the whole point of this audio broadcast is to make sure that you do things effectively.
We want you to learn things that I’ve learned from interviewing numerous power sellers and my own experience also and do that in such a way that its cost effective and those two aforementioned statements are certainly powerful tools that you can use.
Michael G Perry, along with Timothy Black are the creators of the 2009 eBay Instant Money Making Machine.
They helps business owners and corporations build business models that leverage the eBay brand.
To learn more CLICK HERE NOW.:
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This is so amazing! Thanks for sharing your knowledge.
Thanks John, glad you liked it.
Regards,
Mike Perry.
Thanks Mike, Your articles are always very helpful,
Keep up the Good work!
John.