How to make money on the internet

Document Sample
How to make money on the internet Powered By Docstoc
					   How to make money on the internet?


Thanks for buying this e-book. You did the right choice. The information
presented here is based on the experience I had selling on ebay, Amazon,
Bonanzle, Liquidation, etc.

I don’t want to list all the suppliers in the US and worldwide. The list will be too
long and it will become very difficult to check out each and every one of the
suppliers. I have provided the most important ones, so that you can check them
out fast and get started selling online. There are e-books available in ebay that
list 100’s of pages of suppliers. I started checking some of them and then got
bored looking at the long list of supplier names. It was too much time consuming
and I was going nowhere.

I am assuming that you have an account with ebay and paypal and know how to
navigate both websites. I am not going to cover how to list an item on ebay or
how to get paid through paypal.



   1. What are the places you can sell?


   a. Ebay – ebay is by far the best place to sell items on the internet

   b. Amazon – this is the next best. Let me tell you some thing. Once I tried to
      sell used DVD’s on ebay. Some of them did not sell on ebay. So, I thought I
      will try Amazon to sell those DVD’s. To my surprise, they not only sold on
      Amazon, but one of them sold for as high as $20. This is the same DVD that
      did not sell on ebay. There are items I could not sell on ebay, but I have
      been able to sell them on Amazon. Also, Amazon does not charge a listing
      fee).
   Amazon is very good for selling books. The best time to sell books are just
   before the school starts.

c. Bonanzle – This is another place to sell antiques and hard to find items.
   Bonanzle does not charge a listing fee. They charge a nominal fee (much
   less than ebay) after selling an item.

d. Craigslist.org – You can sell things for free here (this is suited for local area
   selling). Craigslist does not charge you a fee for selling items through them.

e. Liquidation.com – If you want to sell 100’s dresses, computers, etc this is
    the place to sell them. More pictures you have of the item you are selling,
    better the chances are selling them.



2. Where to find your products to sell?


 a. Worldwide Brands (www.worldwidebrands.com). This is the best source
    to find products. They charge $299 for lifetime membership. It is worth
    the money.

 b. Wholesale central (www.wholesalecentral.com): They don’t charge any
    fee

 c. Craigslist (www.craigslist.org). This is a very good source to get used
    products. I have bought a lot of used DVD’s through craigslist and resold
    them on ebay and Amazon.

 d. Liquidation (www.liquidation.com). You can buy a lot of items here and
    resell them on ebay. They have a lot of auctions going on every day.

 e. Local newspaper advertisement
  f. Via Trading (www.viatrading.com). This is a very good source to buy
     items in bulk quantities and then resell them on ebay. They have clothes,
     DVD’s, jewelry, etc

  g. Local auctions



3. What to sell?
This is very important. Not all items sell on ebay. Some sell, but they don’t
make much profit. So, it is important to decide what you want to sell. You
want to sell an item, which is in great demand and also you can make a little
bit of profit. I usually try to make at the least $10-$15 in profit. If I can get
more than that, that will be great. If the profit margin is less than $10, then it
is not worth the time spending. If you sell 10 items per day and make a profit
of $10 per item, that is $3000 income in one month.

The following two websites list items that are hot in ebay:

                      1.   Vendio (www.vendio.com). Go to this website and
                           register. Once you register, click on Analytics at the
                           top. Then select What’s Hot. Now go to the right
                           hand side: Hot Products in "All Categories". Now click on
                           More. Now you can see all the hot products.

                           The good thing with Vendio is, they give you the first
                           two months free.

                      2. Terapeak (www.terapeak.com). This is a subscription
                         service. They charge $24.95 per month. But it is worth
                         the money. You can do a lot of research on the
                         products that sell on ebay.

                      3.   What do I sell (whatdoisell.com). This is another
                           subscription service. They charge around $20 per
                           month. There is a wealth of information in their
                             website. There is so much information, it will take
                             quite a bit of time to go through them all. It may
                             takes weeks (if not months) to go through all the
                             information.

It is important to note that, just because an item is hot, it does not necessarily
mean you are going to make a lot of profit. You need to find items that are hot
and also when you sell them you need make a good profit. The following math
will help:

Item Price: $a (this is the money you paid to buy the item)

Ebay charges: $b (This includes listing fees – around $3 and final value fee –
anywhere from $5 to $100+ depending on the selling price)

Paypal Fee: $c

Packing Materials: $d

Selling Price: $e

$e – ($a+$b+$c+$d) should be equal to or more than $10. Otherwise, it is not
worth selling that item.

I do this every time I sell a new item to make sure that I am making a profit.
Periodically, I stop selling items where I make very little profit.

Some people get so much carried away selling items, they don’t look to see if they
are making any profit. True, it looks good you sold 5 items today. But the bottom
line is, did you make a profit? Consider this:

Person A sold 5 items for a total profit of $20.

Person B sold 1 item only; but he/she made a profit of $35.

Which scenario you like the most?
 Person B more more profit. He/She spent less time (he/she had to pack only one
item).



4. How much to sell?

Lot of people make the mistake of listing the item at a high value. If everyone sells
an item for $50 and you try to sell it for $75 it won’t work. You need to list it at a
price it will sell.

5. How to get paid?
 I use paypal to get paid. Sometimes, my customers pay me through cashiers
check/money order. Paypal is the best way to get paid. The money is there right
away. No need to go to the bank to deposit the check. A few times, I accept
personal checks. I tell my customer that I will ship the item after the check clears.

The good thing with cashiers check/M.O is, you don’t need to pay any
commission. With paypal, you need to pay a commission.




      6. How to ship items?
      You sold an item on ebay or Amazon. Now, how to send the item? Within
      US, I use Fedex to ship the item. Fedex is really good. I lost item only once
      through Fedex. They refunded me the money very fast with an apology
      letter. Also, when you send an item through Fedex, it is automatically
      insured. No need to pay additional money for
      tracking/confirmation/insurance, etc. I usually use a box or padded
      envelope to ship the item. That way it looks professional. Also, buyers leave
a positive feedback if you ship the item in a nice box. Some buyers really
like it very much when you double box the item.

Also, I try to ship really fast. If I receive an order today, I try to ship the item
the same day. Worst case, I ship the item the next day. Buyers like it very
much if you ship the item very fast.

If you take too long to ship the item, the buyer may want a refund because
he/she may not like to wait too long. Also, in some cases, it will result in
bad feedback.

You can open an account with Fedex and then you can create the shipping
label online.

7. Follow Up
After you ship the item, you need to inform the customer that you shipped
the item and provide them with the tracking information. If you don’t
communicate with your customer and leave them in the dark, they won’t
buy any item from you in the future.

I usully keep a mailing list of all of my customers. Once in a while, I send
them e-mail about the items I am selling. I send my best customers new
year greetings with a small gift. Good customers always refer you to their
friends and family.

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:19
posted:12/19/2011
language:
pages:7