What made you decide to start selling seriously on Ebay and Amazon?
There were actually a few reasons:
1. My husband had purchased a Mac computer and I could not stand to see it just sitting on the desk not "earning its keep". Macintosh computers really do work great but they are a bit pricey. We are definitely a multiple Mac family now.
2. We needed some extra income for homeschool materials and also really desired to take some family trips together. It was very important to us that I stay home with the children and I prayed about how to accomplish what we wanted and do that as well. This, it seemed, was the Lord's answer to that prayer request. The income from Ebay combined with that from my piano lesson business took us on a wonderful "splurge" family trip to Washington State and British Columbia the first year I began. They have also paid for trips to North Carolina, Tennessee and Washington, DC over the years. All of our homeschool materials were paid for as well as some of the tuition at our umbrella school. I always use the $$ to cover all of our Christmas shopping and expenses.
3. I knew of the experiences of two friends at church who had been selling on Ebay. One woman was already a major PowerSeller selling children's clothing and was also a homeschool mom at home like me making $1,000+ each month; the other was a man who sold part-time but had recently earned enough by selling four little Gunsmoke action figures to take his wife on a short European trip for their 25th anniversary.
4. I love learning new things and have a "bent" for business. I had been in the corporate world specializing in accounting and finance for 8 years before having children. I also find computers fascinating and extremely useful if harnassed wisely. I have to admit though that originally, my two sons taught me everything I knew about computers up to that point. They always seem to know all the up-to-date tekkie info. :) I am constantly reading and enjoy trying new things. When I first began, being a reader, I checked out every book at our library that I could find about selling on Ebay. Trial and error taught me a lot, too.
What were your first incentives to keep you selling?
That one is easy. My very first two sales were for two items that I had purchased at yard sales for literally 50 cents each. One was a Tiffany black velvet ring box that was damaged and one was a commemorative Coca-Cola / Holiday Inn bottle filled with soda. I sold the ring box for $52.00 and the soda bottle for $50.00. $102.00 for $1.00 investment was all it took to get me started.
I've had several instances like this, often just stumbled upon although I have now have a reasonable library of reference books and of course, the internet to research. When you're dealing with collectors, especially one who is looking for a specific item, you can almost guarantee a good return on your investment. Collectibles is now the largest and most profitable category in my Ebay store.
How much do you spend on inventory?
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