Ebay business goal (Advice Requested)

Well, it depend on what are you going to sell. If that item woould be desirable for many buyers it would be easier, if less, than it's harder. I think it depends on the item you are going to sell.

How much buying power have you got?

To make $60 on an item you're probably going to have to spend a considerable amount of money on it in the first place (assuming you're selling brand new products?).

Then there's your MOQ (minimum order quantity) to consider because trust me, you're not going to get wholesale prices by buying ones and two's of products.

Even $20 per item might mean you having to first fork out a fair chunk of money to order your stock.

Have you got that sort of cash?

This would stop most people dead.

Ben

Well, of course you need a plan.

One thing I tell everyone I teach is that you need to have a specific growth strategy - one that almost compels you to work.

The one that works best for my clients is when you sell one item - always list 2 in its place.

That way you're ALWAYS growing.

Eventually you'll get to that place where you're selling at your goal. As you said - it's not overnight - but it's a good strategy.

"The best way to get rich fast - is to get rich slow."

In my opinion, $60 profit per item is going to be very tough unless you're willing and able to spend a considerable amount of money per item (if the item is a $150-$250 item, this is very possible, but the cost will obviously be high.) My personal strategy is to have a product line- a variety of products where some products make as little as $.25 each and others make as much as $150 each. Generally the items that make a low margin are the "hot sellers" and the profit comes in VOLUME where as the big profits sell slower, but give me a chunk of cash for each sale. Your goal is very reasonable if you have a lot to spend up front, but if not, I would recommend getting as much VARIETY as you can (buy wide- not deep) Good luck!

Everyone here is definitely correct...strategy is hugely important, and without a good strategy, it's very easy to get lost in the eCommerce sea.

Another incredibly important part of selling online, however is infrastructure.

If you're looking to meet some serious goals for your selling on eBay, you're going to want to make sure that you've got the tools which will allow you to do this as easily as possible.

An eBay listing tool is a great place to start. Listing items one by one can be a hassle, you have to remove listings to change them, and creating things like variation listing, kits, and bundles can be pretty challenging.

Then, of course, you've got diversification to consider. Think about what happens when your eBay store takes off -- that's a good time to look into more options, isn't it? If you're using something like Solid Commerce to manage your eBay Listings, then you're already halfway towards being setup for full-steam-ahead multichannel selling. This means that your inventory is synced across marketplaces like eBay, Amazon, Rakuten...as well as your own webstore(s).

Hope that answers your question (and then some)! Feel free to reach out for more information. I'm here to help.

The plan itself is realistic, but the unknown factor in making it happen is you.

Judging by your question here, I suspect the biggest problem you will run into is not knowing what you don't know.

So getting a mentor to help you along the journey, assuming you have the perseverance to complete the journey, would be a good first step.

Every good business plan has mile markers to keep in the loop regarding your business performance.Perhaps you could set your goals to half of that for the first 6 months,then rewrite your plan accordingly after you get a feel for the hots and the duds,the seasonal and the year round items.Your biz plan is the most important thing in my eyes.A boat that has no navigation or crew isnt going to get very far from the port.Your business will suffer the same if you set unrealistic or guesses for goals.Ive seen many people not take Ebay as a serious business and kind of just wing it,but Ive personally made very good money and I accredit that success to planning,research and attention to detail.Good luck in 2014 and happy selling!!

making $60 per item on ebay, its tough enough to make $6 an item there after all their fees.