In general, when it comes to eBay arbitrage the process is very straightforward.
You buy low and sell high so you make a “margin” of profit on every purchase.
The term “dropshipping” refers to the source of your product. You literally drop a customer to whatever supplier you have.
What I did to make $1,000 in a month is dropshipping on eBay, processing the order with a retailer (specifically Walmart), and I made a 13%-16% margin on each item sold (with Cashback).
So basically if a bike was $120 at Walmart I could sell it on eBay for $155 (if competitors aren’t selling it too much, otherwise I’d lower my margin to beat them out).
This is the essence of what the Pricematik eBay listing software I used is for, scaling this process with many, MANY, listings to scale an income.
This is how I made $1,000 (more like $1,500…) my first month on eBay and several others have.
Now it’s your turn and this site is made to educate you on exactly how to do this and from there you can decide if e-commerce is for you or not…
…either way an extra $1,000 in your pocket doesn’t hurt.
ANYWAY, this article is about the biggest barriers I faced to making my income my first month selling on eBay as a retail dropshipper.
If you solve all four of these setbacks then you are well on your way to making money and building an income on eBay or any online venture for that matter…
…here they are:
1.) Not Being A Problem-Solver
This is possibly the most ground-breakingly important skill you will acquire in business and in fact you have no choice, but to solve problems.
This is a fact: In any business you start you will face extremely stressful and challenging problems that will test your fortitude as a person.
This is very normal and can only be seen as a path to growing and a necessary obstacle to getting what you want.
Unsurprisingly this heavily applies to dropshipping on eBay…
…here are some problems you will face when starting your eBay business:
- Not Knowing How To Do Things
- Being Less Than 18 Years Old
- (I got hit by this heavy…PayPal held $2,500 of my money for 3 months. It was one of the most stressful experiences of my life and really tested me.)
- Emotional Turbulence
- Listing & Selling Limits
- Return Cases
- Missing Parts
- PayPal Cases
- Out Of Stock At Supplier
- Mad Customers
- Cancelled Orders
- PayPal Holds
- eBay and PayPal Support Annoyances
- Slow Sales
- Banned Accounts
- Managing/Learning BlackHat Tactics To Sell Again
That’s a long list, but guess what…problems aren’t really problems…
…they are a necessity to doing anything great.
When you see problems as problems and complain heavily you ignore the fact that if you overcome them, the other side is so much sweeter.
The thing is that all of these are solvable and I am proof of that.
I overcame all of these (including the age ban…), made my money, learned eBay wasn’t for me personally, and now I’m a stronger person.
I know that someday you will forget ever reading this, but you will never escape this fact: You must be an elite problem-solver to make substantial money as an entrepreneur.
Problems are a natural part of the process and you will overcome them.
Remember, you are stronger than you think and I believe in you.
2.) Handling Customer Support Sloppily
One of the biggest tips I got from my mentor (the one I mentioned in this article who makes 6 figures a month on Amazon) was this:
“As a dropshipper you are like a mirror. You mirror what the customer support of your supplier tells you (Walmart, Amazon, etc.).”
So what I’d do is literally copy and paste customer’s questions into Walmart chat support and it worked wonders into simplifying customer support on my side (eBay).
But anyway, that really is key when it comes to customer support as a dropshipper.
You must be a mirror. Mirrors reflect and are unemotional.
If you ever talk back to a customer you are in for a treat…
…which reminds me of another customer support:
“The customer is always right…until they leave your business and pose no threat to you whatsoever”
Some customers are gracious…
…and some are completely ignorant jerks who live dismal existences and take joy in sucking the life out of you.
Either way, you must deal with customers kindly and never get and at them.
This is gold right here: assume all responsibility for anything and always show great sympathy for their problem with whatever it is they’re contacting you about
Always respond same day (as you scale this will be harder) and closes cases as fast as they are opened no matter what.
When dealing with PayPal and eBay as a dropshipper know this: PayPal and eBay as companies internally disorganized and heavily automated. Their sheer volume of customers and transactions means that they must be heavily systematized which leads to a disproportionate amount of injustice.
It’s just a part of the game, Paypal and eBay can be jerks sometimes and they can be angels at other times (PayPal are mostly “jerks” due to the nature of their high-risk business).
Take nothing personal and keep customers happy, systematize your customer service with scripts you can copy and paste.
Besides that, keep everything tight and you’ll be a much happier eBay seller in the longer term!
3.) Not listing at least 20-50 items a day
As you will see soon if you pursue dropshipping on eBay (which I go into more depth in here) then you will notice that you will be listing a lot…
…becuase in the eBay game the more listings you have, the “wider your web” is to catch potential sales.
Listings = Income. The more you list, the more you make, the more your business grows.
The way to deal with the monotony is to see it exactly like that…building a business and an income.
Every 100 listings you make with Pricematik, you will have 1-3 best sellers for yourself that make you $5-$15 every day…
…putting that in perspective, if you have 10-20 best sellers you will already be at a low-part-time income you could literally live off of.
This is all theoretical though and based on my experience listing.
Whether you actually do it is where the rubber hits the tarmac.
If you list a lot of items you will sell many items and you will make a lot of money.
It’s really that simple.
4.) Not seeing dropshipping on eBay as a real business
At times you will get very lonely building your eBay dropshipping business.
You can’t really tell people what you do since it is kind of stupid (but it works as I’ve proved…) and taboo amongst actual dropshippers who source from wholesalers.
To the contrary of that, it is all about how you look at it.
Dropshipping is a great low cost start to get you selling on eBay fast, breaking those selling limits, and opening yourself up to a lot more opportunities.
It is much easier to scale a dropshipping business than a brick and mortar eBay business any day.
And once your store is well established you can actually do real item sales if you’d like or take a wholesale route.
Either way, the key is that dropshipping to a retailer is the fastest way to start an eBay business and it builds many transactions on your account.
It is a gateway to bigger things and excellent for a beginner who wants a low barrier to entry…
…speaking of barriers to entry…
How Can I Start An eBay Business Today and Start Making Money on eBay Now?…
All of these things are best learned by experience, there really is no other way to internalize them than actually doing them
Actually doing support, actually opening a store and selling, actually listing items and seeing your sales grow, etc…
So if you are ready to start your own dropshipping business and make some extra money this month then click here to see exactly how I made $1,000 my first on eBay dropshipping.
If you are reading this sentence and you aren’t clicking that link to at least learn what I did then this will become a habit for you.
Procrastinating…passing up opportunities…waiting for the “right business to start…
I remember before I started eBay I was so closed off to other people and learning from mentors.
Now, after learning from so many people I buy so many more programs to expand my mind (not expensive ones though…I’m still cheap as hell).
It is just one of those things that come natural to human beings: fear and caution.
But I’m telling you, it is so much sweeter on the other side.
It is amazing to feel that you are building the life and business that you want, it is so empowering.
Every opportunity you pass up to learn and expand yourself, the deeper you fall into the hole on inaction
So if you really want to see exactly how I made $1,000 last month you can click right below…
I wish you all the best luck in your business and I know you’ll make it someday
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