Tuesday, April 21, 2015

Protecting Your Ebay Account

Me and my wife are preparing to go full time as ebay sellers and that in itself is scary enough but this will be where the majority of our income comes from so before we take the leap we are thinking about the security of what we are about to do.

So now we are looking at ways to protect our account from having the rug pulled out from us. We sell a lot of brand name clothing and while we have become experts on some things we can't be experts at everything so what does that mean for our business? Well what that means to us is to stay away from very high end brands that we can't authenticate ourselves. 

The lure of selling that Prada handbag we got from goodwill for big bucks is outweighed by the possibility of getting slammed with a counterfeit item suspension so the best thing to do is just not get involved in that stuff at all. We have already ended about 20 items we had up for sell because we weren't sure about them and it wasn't worth the risk.

Our remaining inventory is rock solid and very low risk items so we feel very good about it. As we get closer and closer to veering away from being hobby sellers into full time the seriousness of our chosen profession is becoming more and more real. It's no longer a well if it happens its no big deal kind of thing, now it's more of we have to stay above board on everything kind of thing.

If your looking to go full time on ebay then my best advise would be to ease into it. We made plenty of mistakes over the last 3 years and it's only now I feel we have reached the experience level that would allow us to do this for a living.

It seems easy and some of it is but making a living at anything is hard and requires much dedication. I used to think there would be nothing to it but wow has the last 3 years changed my mind. Anyway just take your time and don't rush into quitting your job until you feel ready.

It's been a long time waiting and we still have a few months to go at working out full time jobs but honestly I'm glad we waited because back when we first started, if I had quit my job then, it would have been a disaster.

peace,
Tony

PS. 4 months and counting

4 comments:

  1. Good advice! It's not easy and you're approaching it the right way. You're fortunate in that it's something the two of you can do together. I wish you both lots of luck!

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  2. 4 months. How exciting! I agree about the counterfeit stuff. I have a few things I'm waiting on listing as I don't want to take the time to do enough research where I'm certain they are authentic. Have you seen this site? http://www.authenticatefirst.com

    I'm also curious about how you chose your timing/date of going full time? Will you start pulling in some retirement income? Just curious.

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  3. Using our current listings and the income derived from them as a guide we are figuring we will need about 1400 listings to start with an average sale price of 25.00. We have enough money in the bank now to purchase the remaining items needed. The 4 months is to save up enough money to pay my salary while I'm listing for about 2 months without any income needed from eBay. That's the amount of time it will take me to get our listings to 1400. Our store will be more than able to pay all our income at that point.

    We made the money needed for the inventory purchase from eBay and have not had to go into our retirement fund. Of course there are no garantees that we will make our projections so there is a bit of a leap of faith involved.

    I'm 53 years old and I work as a stocker overnight and frankly I hate it. At this point I would rather take this chance and fail rather than keep on doing what I'm doing because life is too short to do something you hate at this age.

    I'm too damn stubborn to not make this work 😄

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