Online auction sites are a great way to find a bargain on almost anything and an excellent way of getting the best price for selling something of your own. Online auctions are different from their real-world counterparts. You are free to take your time browsing the listings and bidding takes place over a period of days rather than minutes. Online Auctions offer good opportunity for anyone wishing to start an online business for a number of reasons. If you feel you have the persistence necessary to run your own successful business, this is one opportunity you should consider.
Basic Idea
Your business is to sell playing intermediary role helping people to buy items they need. You do not need stock as you can start by placing drop shipper's items on eBay to get you started. Drop shipping is used by intermediary and mail order companies who do not wish to stock inventory of the products sold for future delivery through mail order, catalogues and internet advertising. You send single unit orders for products to manufacturers, or major stocking distributors, who in turn drop ship the merchandise direct to your customers found at online auction. Manufacturers providing drop shipping services can gain additional sales, shift advertising costs to middlemen, offer advertising material and reduce inventory requirements. You shift the risks of stocking inventory to the supply source, including storage, insurance, overhead, and personnel by spending nothing on inventory, until after the product is sold.
Advantages
Minimal capital needed to start. You loose a few dollars in eBay fees if your item doesn't sell.
Disadvantages
Lack of public information on general sales methods and techniques used. This is not passive income system. You should work all the time you want to run your business.
Common mistakes to avoid
1. Listing an item with wrong auction expiration time. It’s a known fact that more buyers browse auction sites on Sunday evenings than any other time during the week.
2. Not giving your listing the attention it deserves. Lots of people place items without photos and even good description. Lots of people use all kinds of flashing animation, multicolored text and other bells and whistles in an attempt to entice bidders. Listings like these are distracting, hard to read, and will always discourage people from bidding, resulting in a lower final sales price.
3. Using a reserve price. Using a reserve price to guarantee thatone will get a minimum price for an item. People will not bid on "Reserve" auctions as they don't want to get "Reserve not yet met" message.
4. Not planning your business activities. It is always better to create business plan and start implementing it. Ebay business requires procedured to be done everyday so plan it thoroughly.
5. Not selecting several good drop shippers. Your business should be stable. Drop shippers can quit and also they can kill your business by not meeting your expectations. So rotate them until you get several good ones for your business.
You can find books to read first and Online Actions list at http://www.RichTrack.com.
Online Paid Surveys
Around the world, companies spend over $250 billion dollars a year trying to convince consumers to buy their products and services. And about $800 million dollars is devoted to market research. That’s why your opinions on goods and services are so important and as highly paid for.
Multilevel Marketing
Basic IdeaMultilevel marketing (MLM), also known as "Network" marketing, are a way of selling goods or services through self-employed independent distributors. As a networker (independent distributor) you receive commissions - for both your sales of the company's goods or services and those of other people you recruit to join the distributors. Multilevel marketing plans usually pay commissions through two or more levels of recruits, known as the distributor's "downline."
Earning From Your Website
Before you start building your site, ask yourself "WHY?". Why did you decide to build your own web site. How are you going to earn money? Creating simple homepage will not get you any money at all nor you receive lots of visitors. Your website must be the part of your business. It also must be the part of your business plan.
