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Start the New Year Right with These 7 Selling Resolutions

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Verified Blogger
Verified Blogger
Last Edited 09:23:07 AM

There’s something about the start of a New Year that encourages us to reflect on who we want to be, where we want to go, and how we can achieve our dreams. It’s the perfect time to take stock of your life and your business and make a plan. To help you out, we’ve come up with seven resolutions for eBay sellers. Whether you tackle one or several, we hope these ideas inspire you to start the new year off right.

 

Get Organized

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Is clutter keeping you from being more efficient? Is your inventory a chaotic mess of boxes and shelves? Are your financial records a nightmare of numbers? There’s no time like the New Year to get your business in order, get organized, and bring order to any chaos that’s keeping your business from running like a well-oiled machine.

 

  • To start, clean up your workspace. Even in a small space, you can create dedicated areas for storage, shipping, photography, and listing.
  • Organize your inventory so you always know exactly where an item is and can find it easily. Arrange your most-used supplies so that they’re always within reach when you need them.
  • And, don’t forget your digital workspace and your financials, too. Clear out your inbox, archive any files you don’t need right now, and make sure you have a system in place to track your expenses and income, return rates, margins, and estimated business taxes.

Get Professional

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The way you present your business to the world—with quality photos, a memorable brand, and professional packaging—can have a big impact on sales. What better time than now to start presenting yourself as a unique business that buyers will remember?

 

  • Create or refine your business brand—do you have a logo and a brand name that reflects who you are and what you offer buyers?
  • Set up business social media accounts with the name of your brand, and develop a strategy for promoting your business on these channels.
  • Think about the way you do business on a daily basis. Do you have everything you need to run a professional business, including the right technology, such as a printer and a shipping scale?
  • Do you have the tools needed to create professional listings, such as a mannequin or lightbox?
  • Make sure that your first impression on buyers is a great one. Invest in professional packing and shipping supplies to go the extra mile to delight your buyers.

Get Informed

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You can’t make the right decisions about your business if you don’t have the right information—both about your own business and the competition. Spend some time doing research into your own business and the competitive landscape so that you’re fully informed when it’s time to make critical choices.

 

  • Track your business using Seller Hub so that you always know how your sales compare to previous benchmarks and your goals.  
  • Find out what’s hot on the In-Demand Inventory page, and use the Seller Hub Growth tab to forecast demand, plan your inventory, and make sure your prices are competitive.
  • Know your numbers, always. Margins, return rates, monthly fixed cost; if it affects your bottom line, you should know that number at all times. If you don’t have financial management software like Quickbooks or GoDaddy Accounting, the beginning of the year is a great time to get started. You and your accountant will be glad you have a full year of record keeping for easier tax prep.

Get Help

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As your business grows, it may be time to think about taking on more help, especially if demand for your items is strong enough that your income potential is limited by your ability to keep up.

 

  • Look at your numbers and evaluate the cost of an assistant compared to the potential increase in income. While you might hesitate to spend money to bring in help, consider how much extra income you could generate with a few more hours of manpower.
  • Decide whether a loan is right for you to expand your business. Taking out a loan is a big decision, but if an infusion of cash could help you grow, it may be a worthwhile investment.
  • If you know you’ll need help, but not now, or not all the time, make a plan for seasonal help during your busiest times, and start looking early so you have plenty of time to find, hire, and train a helper. You can even consider a virtual assistant if you can’t find someone locally, or if the work you need done can be completed online.

Give Back

 

If you’ve seen big success this year, consider giving back to those less fortunate—both in the eBay community and the world at large—by contributing your time, money, or expertise.

 

  • Consider donating a portion of your sales to your favorite cause through eBay for Charity. You can donate as little as 10% (1% for eBay Motors) up to 100% of the item’s price.
  • Have eBay expertise to share? Mentor a fellow seller, or share your advice with fellow sellers in the eBay Community or on social media
  • You can also help make eBay better by giving us your feedback using the “Send us your feedback” links on nearly every eBay page.

Get Involved

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The eBay community is a great place to learn, connect with other sellers, and forge connections in what can be a lonely job as an entrepreneur or small business owner. This year, make it a resolution to get involved in the eBay community, both online and in person out in the world.

 

  • There are dozens of groups holding eBay seller meetups around the country and around the world. Find one near you and make it a priority to attend.
  • And, don’t forget to mark your calendar for eBay Open, an epic celebration of sellers than includes keynotes from eBay executives, in-depth educational workshops, lots of networking, and incredible parties. Save the date for the 2018 event, July 24-27 in Las Vegas.

Make a Plan

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As the old adage goes, if you fail to plan, you plan to fail. Whatever your resolutions, figure out the steps you need to take to achieve them and make it a priority to execute your plan.

 

  • Set goals, and write them down so you can reference them throughout the year. Goals that are SMART (specific, measurable, achievable, relevant, and time-based) are better than goals that are vague. For example: instead of “get more involved in the eBay community,” you might set goals to “attend one meetup per quarter.”
  • Share your goals with others to help hold you accountable.
  • Break down big goals into smaller, more manageable accomplishments so that you don’t get overwhelmed. Think about the steps you might need to take to achieve your biggest goal and turn those steps into mini-goals that you can celebrate achieving along the way.
  • If you don’t have one, consider creating a business plan that lays out in detail your goals—and most importantly—how you plan to measure and achieve them.

Sellers, what are your business resolutions for 2018? Tell us in the comments!

7 Comments
by solty04 · Adventurer
solty04
Adventurer

Main goal is to advertise my own listings more.

by showmetime · Adventurer
showmetime
Adventurer

Thanks for this awesome blog!!!

 

by vintagecraze50 · Guide

Since we did well this Christmas, we plan on increasing inventory two fold. We have gained confidence that product we sell really sell here and we want to put ourselves and our product in the forefront of searches. Striving always to be better than the competitors in terms of picture quality,  price,and presentation as well as providing customer appreciation gifts. Goals are for expansion of inventory each year to continue to grow the business.

by vintagecraze50 · Guide

If you do not have a bookkeeping system yet, the Go Daddy is the easiest system we have ever used. Effortless and precise this is a MUST for any seller here for tax purposes and to eyeball all the time what is going on with your profit margins. Keeps track of eveything you buy sell and organizes it completely. Get it!

by
Rockstar

I have an Excel Spreadsheet back to 2009 with everything.

 

I have cleaned, but my goal is to work a lot less and stop relisting because it's easier.

 

And to maybe go with a third site.

hazelwood4318
Pathfinder

Set your company above and beyond the "average", Logo your company, be creative! If this is outside your wheelhouse there are many apps to go to, E-bay and otherwise. even a simple Logo will help you stand out and be more memorabile to browsers and buyers.

 

It also gives your company the look of genuineness in reaching a professional level. There are any number of thoughts to the use of a logo but I believe this should get your mental jucies flowing in streams of thought, but i'll toss out one more. Keep it simple to be easily caught up in other's minds ——— look to the E-bay logo for quick verification of that!

Very Best Regards,

Glenn

G.A. Hazelwood & Co.

Starlene's Attic


More ridiculous drivel  posted as nothing but fodder for the Ra Ra Ra Quislings...