Have you heard of the fresh start effect? It’s based on the idea that, as humans, we’re energized and more determined when we get a chance to wipe the slate clean or start anew.
This is probably why the new year always feels so exciting and full of promise. Even if you had your best year ever on eBay, you can still be exhilarated by the prospect of starting over and crushing a new set of goals.
So, with the “fresh start effect” in mind, we pulled together five tips to help you wipe the slate clean, start 2017 more excited than ever, and maybe even see your business in a whole new light. Take your pick or resolve to tackle all five:
1. Liquidate your slow-moving merchandise.
This time of year, buyers are trained to look for deeply discounted merchandise. Take advantage of that buyer mindset and do an inventory clearance sale. If you have items in stock that just won’t sell, create an attractive promotion to help move them out, or use promoted listings to get more visibility for your lethargic listing(s). They’re likely taking up physical and mental space, and could even be impeding your growth.
If you don’t have an eBay Store, you can set up a $.99 auction style listing or consider donating your items to your favorite charity. You’d support a great cause. And, if applicable, you can take the tax deduction. Always consult with a tax professional, when in doubt.
2. Brush up on your skills through the Small Business Association.
You only know what you know. Consider carving out some time in your week to take some free courses through SCORE or the SBA Learning Center. Topics include: How to Write a Business Plan, Strategic Planning, Introduction to Accounting, Market Research, Social Media Marketing, and Marketing 101: A Guide for Winning Customers. Something you learn here will change the way you approach 2017, guaranteed.
3. Consider carrying new, multi-quantity items.
If you only sell one-of-a-kind merchandise, you might be spending too much time sourcing and listing. Try taking the plunge into the wholesale world. When you buy multi-quantity items from a wholesaler, you only have to list items once. Plus, you’re investing in a much more sustainable sales model. Just ask eBay seller Dan Riley.
4. Determine where you can cut costs.
If you have an eBay Store, see if you can save money on fees by upgrading to the next level. Or, if you don’t have a Store, use the Fee Illustrator to find out if you’d be better off with an eBay Stores subscription. And, don’t forget to factor in all of the subscriber perks, like credits toward shipping supplies and promoted listings, as well as discounts on graphic design and financial services.
5. Set your sights on growth.
The best way to plan for growth is to first study the data in your Performance and Growth tabs in Seller Hub. Based on what you find there, you can determine what’s selling well, what needs to be discontinued, and how your listings stack up against the competition. From there, you can either adjust pricing, or pump up your marketing with promotions and promoted listings, to sell more. Once you uncover opportunities for growth, the sky’s the limit.
Just in case you were wondering, the fresh start effect’s got us, too. We’re looking forward to all of the ways we can make selling on eBay easier, more profitable, and maybe even more fun. #Goals.
Do you usually start the new year with a new set of goals? Let us know in the comments below. Also, feel free to share this article with your eBay peers via email and on Facebook, Twitter, Pinterest, and LinkedIn.
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