Who would have thought eBay would become such a household name? eBay is not only the largest auction site, but also the largest market in the world and its global presence is unrivaled on any other website. eBay managed to build a reputation around the world as the place to go to find what you are looking for. Regardless of what it is, somewhere in the world someone will sell it. Along with this reputation, eBay managed to do what many early e-commerce sites ruined, which was build trust with their customers. On eBay, people are willing to spend and the confidence they have in eBay’s payment and delivery system is reflected in their sales. With this in mind, starting an eBay auction business can be a very lucrative endeavor for you.
One of the things that makes eBay so successful is that they offer virtually anyone the opportunity to connect with your business. By opening your own eBay store, you can gain instant access to a huge customer base, which is the crux of doing business online.
Many entrepreneurs who start their own online businesses fail by not attracting enough customers to their website. Online competition can be fierce and website traffic has become a commodity. By starting your own eBay auction business, you can eliminate this problem to a great extent. Starting your own eBay store is incredibly simple and inexpensive, and you can connect to eBay’s proven payment system without any hassle or lengthy application and approval processes.
If this sounds too easy, hold up your horses. Anyone who owns and runs a store can tell you a simple truth: it’s hard work! Managing your own eBay store is no different and, along with success, it can bring many more “problems”. Dealing with customer issues, inventory, and shipping orders can quickly turn into a full-time job. Although the profit potential is great, an eBay auction business is still hard work and many online entrepreneurs are trying to escape a full-time job without sacrificing a full-time income.
However, there is a little twist on the subject, and out of the frustration of dealing with all the typical hassles that come with owning a store, many entrepreneurs turned to affiliate marketing. Affiliate marketing became popular in the mid-90s and to this day it forms a large part of online businesses and websites like Amazon are almost entirely dependent on affiliates. The fact that eBay offers a very generous affiliate commission on the sale of products opened a new avenue for those who want to benefit from eBay without the usual hassles of running an online store.
By starting your own affiliate store, you can start an eBay auction business without selling anything. Simply by promoting certain products in your ‘virtual storefront’ you can direct customers to the most appropriate products and earn a commission on the sales that result from your recommendation. Although the profit margins are much smaller than if you had your own eBay store, the amount of work is much less. In fact, you can set your eBay affiliate store on autopilot and pretty much let it run on its own while still earning commissions.
Residual income is a very powerful concept and one that the Internet absolutely allows you to connect to. Today, most people earn “minimal income,” which means they trade time for money. On the other hand, residual income means that you work once and continue to work for you and earn money for yourself. This is the kingdom of the rich and with the Internet it is at your fingertips.
However, the idea is not to be enslaved by a job you hate and to create the life you want. Regardless of your preferences, you can earn money from home and with an eBay auction business anyone can. Whether you sell your own products or other people’s products, eBay offers you the opportunity. It’s all about taking action and making it work for you.