Make sure you have someplace that
you can dedicate to storing your inventory. If you have an external building
on your premises that you can allocate for storage, you're on the right
track. Especially if you plan on having lots of product to sell... you'll
want to keep both business and home separate, this will save you from
cluttering up your home and causing disorganized chaos.
One primary key to a successful
business is having a variety of choices for your customers to choose from.
Build your inventory and title selection by ordering bi-weekly to monthly.
This is a fact! The more selection of titles you have the more product you
will sell.

Choose multiple venues where to
sell your products. Not just one! Many folks that think they're going to get
rich quick, or make a quick buck, usually they put all of their products on
one sales site and/or auction website. For instance, there are many folks
out there that order assorted inventories and try to sell them only on Ebay.
Although Ebay may be a great site to sell items, it is also heavily
saturated with many other sellers that are competing with each other to sell
the same products... most of them are penny sellers that are envious of
others and have no real clue about how to market or sell products.
If a current U.S. market is overly
saturated with any particular product, consider opening it up in foreign
markets as well. Let's say,
you have 100 sellers selling on Ebay.com, Amazon.com, Yahoo.com,
considerer opening an account in their foreign markets. (Examples: Ebay.uk
Ebay.de Ebay.ca Ebay.au Ebay.mx / Amazon.uk Amazon.de Amazon.co.jp Amazon.ca
/ Yahoo.uk Yahoo.mx
Yahoo.co.jp Yahoo.fr etc...)
Open up your marketability both
on-line and off-line. There are virtually an unlimited amount of places
online where you can sell your products, but don't forget... there are
a good
many other places within your own community and
neighboring areas where you can sell your
products. But I cannot stress this enough... Make yourself GLOBAL, not just
LOCAL! It is a small world, After all.
You are a business... it is
imperative that you start marketing yourself as one and create your own web
presence by creating your very own website. Don't just rely on public sales
forums to sell your products. Establishing and marketing yourself on the
internet will take some time, but... being in business for yourself is what
you're about. Working for yourself isn't a 9-5 job... you are working for
yourself... 24 hours a day, 7 days a week and all year long. I'm a firm
believer... "You are in total control of what your are worth". What is your
"Time" worth? If you want to work for someone for $6.00 hr.; If you
dedicate your
time into establishing your own money making empire, bringing in $3000.00
per day or more... then that's what you're worth.
The best "FREE"
business advice we can ever give you... when creating your domain
name, don't make the same mistake that we did... although it is a bit more
of an investment, lock up your domain name
prefixes by purchasing them all at the same time.
(Examples: YourSite.com, YourSite.net, YourSite.biz, YourSite.info,
YourSite.org, etc...) Get them all now so you don't regret it later. Take
total control... There would be
those who try and succeed at cashing in on your hard work and success; so
protect your business interests.
Always be aggressive and creative
in your marketing strategies. Promoting both yourself and your product will
be one of the best things you can ever do for your business. Don't think,
"just because you have the product, the product will sell itself". In order
to sell anything, especially on the internet, you have to promote that item.
Create the hype, but don't make up any false claims about the product
either. Hype up the positives and create the market for it!
By setting the price, you set the
tone to your success. If you want to sell everything for a penny... Good
Luck to you. However, there is absolutely no reason that anything should be
selling for a penny. Who cares that there are 50 other sellers selling the
same thing on Ebay, Amazon, Yahoo or wherever plan on selling your items.
Get the best price out of the product. If it retails for $16.98, sell it for
that price or even half that. You'll be surprised that there are many folks
out there who don't care about the price... who cares that it's a penny...
they care more about the level of service. Penny sellers may have more
feedback, but they make far less or no money. But if higher feedback rating is
more important to you than more profit... 'nuff said!
Earlier I mentioned that... "you can
sit on inventory for years before it sells out, so be prepared to be in the
business for the long haul". Although a market may be saturated at the
moment; the fact of the matter is... product does sell out. Plus, sellers
come and go, many of them just don't dedicate themselves to their
business... we call these sellers, "the quick buck sellers", or should I
say, "the quick penny sellers". There are some benefits to this
though...
Here are just a few... of many
Audio CDs that we liquidated in the past which were included in our bulk CD
lots. Many sellers cheapened them by reselling them at a penny, but now they
command a much higher price.
Clasicos de Cuba: Boleros [Audio CD]
Z-Ro: Look What You Did to Me [Audio CD]
Swoop G: Undisputed [Audio CD]
Young Dre D: Troubled Mind [Audio CD]
Strangeland Soundtrack [Audio CD]
Peter Weniger, Hubert Nuss, Conrad Herwig: Hymn to Gobro [Audio CD]
The Dubliners: Milestones [Audio CD]
The point we're trying to make here
is pretty clear. Don't worry about what penny sellers or others are charging
for their products. Get the absolute best value for your product. Make
dollars, not cents!