Wheelin’ and Dealin’ Part 1

This article is going to cover some theories behind buying and selling on the internet and how best to portray yourself as a small ‘garage’ business using sites such as Amazon and eBay as shop fronts.

I think the most fascinating thing about buying and selling on the internet is watching the patterns which emerge from people’s buying habits, and seeing how different little tricks can change what people buy.

The first issue everyone has to overcome when selling stuff on the internet is competition. I would say this is probably the biggest hurdle. And it is such a big issue because there are so many people doing the same thing. I am currently reading Alan sugar’s book, where he talks about going into the Hardware shops as a Salesman and offers his products. There isn’t the same way of working on the internet as there is in the real world. There is no human contact or traditional persuasive selling patter which can be used.

The internet has its own selling system and it mainly involves the user coming to find you, not the other way around which is the more difficult bit. What you also have to consider is not only is there lots and lots of things which people are selling but also lots and lots of things which people are buying. The range of stuff which you can find is so much more expansive than any shop you may find, no matter how big or small.

So we are in a situation with so much to choose from to start selling, limited funds, and so much competition. I know what you will be thinking now. How do I even start. My top tip here would be to clear out your loft, or under your bed. Have a good old sort through your junk and find a few items to sell. Maybe 4 or 5. Advertise them on eBay. I am not going to tell you how to sell on eBay, that is for other blogs or maybe a later post, but I will tell you the first items you sell will be the best indicator of where your selling path may go. You can really get a feel for what people snap up, what sells and what doesn’t, how the system of eBay works and also how best to market items.

You will find many extra tools on eBay, most of them designed to squeeze every last penny out of the profits you make so you have to be careful with this. Do the maths and make sure you aren’t making a loss. Work out what is effective and what isn’t. Also by selling a few items you will build up some reputation on eBay and people will be more inclined to buy from you.

Let’s all take our parents for example. I know mine are certainly the ones who won’t buy anything of Amazon unless it is fulfilled by Amazon and take extreme care on eBay. They may really want that china teapot somebody bought you for your birthday 6 years ago because it has a tiger on it, but if you don’t have a very good ‘reputation’ they will stay well clear. I could make or break most of your sales.

Even the tech savvy look at this when purchasing. I can’t stress to you the importance of it. And it is built up with you being reliable and professional from the very start.

Don’t miss part 2 of this article where we look at moving you little endeavour on from just clearing out the junk under your bad or in the top of your wardrobe.

Please follow me on twitter: @peachy146

Selling Virtual Stuff

The world of technology is filled with a sea of nerds battling it out for the prime position. They trawl through the internet looking for new ways to conquer and gain ground. At least that's how some people see it. And partly that's true. There are so many nerds who do stuff on ths internet its unreal. And I am one. Admittedly not a very good one, but thats not saying there isn't plenty to do.

Think about the things you do on the internet. YouTube,  social networking, looking though websites, playing games and using addons and stuff. There has to be a way all that is made right? And there has to be a way to do it and people who can't do it, right?

There are many forms of 'computer construction' and the builders are sought after folk. I know someone who is able to make complicated computer programs at a high level in a difficult language and he can make up to £2500 per job. People want taylor made stuff on the internet and that requires people to make it.

If you can learn a skill that people want to use you are quids in. For example, the most basic form of webpage construction, html webpages, can be bought for £50 a page. Now a 4 page website and it already starts racking up. Your challenge is to learn that skill so you can make money off it. You can make web templates for example,  java applets for browsers or games for people. There is so much potential for you in programming even at a reasonably basic level. Remember the better you are, the more you earn.

Another way of creating digital products is that of the stock photo industry. People use stock photos off royalty photo websites for websites and magasines etc to save on taking them themselves. This is a great way of monetising those ameture photography skills.

You can also create eMagasines and newsletters, which can be used as a portal for advertising revenue.

Blogging is another option going down the advertising route. See my article on blogging for more info on this.

I have touched before on writing your own articles and doing freelance writing as a way of generating a little extra dollar. This is very handy and accessible with websites such as eLance.

There is obviously plenty more ways to make money from little virtual products and lots more things you can make with a little bit of skill and a load of creativity.

Follow me on twitter: @peachy146

Don't Spend It, Save It!

One of the most effective ways of making money is believe it or not, saving it. Just think about the amount of cash you may spend on grub from the tuck shop or the newest COD, and think about how much that all adds up to. Try putting the £2 a day you might spend in the shop on your way to school in a pot and see how quickly this adds up. Also think about all the unnecessary purchases. Music, games, stuff like that. You don't have to pay such a price for some things as well.

I am not saying you should just give up all your little luxuries that you buy with the money from delivering the local newspaper, but just think about what you are spending and try saving it in a jar or pot to see how much you really do spend. Trust me, the results are outstanding. You may be able to save up in 2 or 3 months to buy yourself a new x box, or an iPod, or a new Bike.

If you just have a little bit of sensibilty when thinking about each time you spend money, then you can save a packet! Also, cutting down on those sweets will make you a little bit healthier too, which could also be a little benifit! 

Remember, SAVE IT, DON'T SPEND IT!

Make a bomb on Web Businesses

Making money is all about making the most of your skills. One way I did this was by making websites. If you know how to code websites from scratch using html and php, or even just have a basic understanding of Dreamweaver, or a similar website package, and an idea which could prove successful, then you could be in with the chance of making money yourself. This may seem a daunting task, but it is the perfect way to create some extra revenue and there are many people out there who would be willing to buy it off you.

All you need is to be able to use a basic program, and a good solid business idea. Easy, right? Although it sounds it, I should warn you of some major pitfalls of this adventure. While it requires outgoing cost to start off with, it is a risky business and needs a good head and a good eye. You need to be able to time your site right as to when to sell it, and know what sites sell well.

When I say it needs no outgoing costs, I am lying a little bit. The user will want to buy the website complete with a domain name and in most cases a web hosting package. This means you need to make sure your domain name for your chosen website is available and ready to go before you put in a whole load of hard work and realise that somebody has already created a business which you are trying to sell to somebody.

People also like to see, if you are going to sell at the higher end of the market, a set of domain names which relate to the name of the site in your possession which they can save so nobody can copy their site. If you don’t understand then an example is Google. They own thousands of other web domains so that nobody can get even close to them. They even own the web domain googlesucks.com!

Next on the list in the internet business purpose. If you try and sell somebody an online store selling cakes and cookies, it will never sell, as somebody would have to make to goods to sell. What I am trying to show you is that the best subject matter for an online business which you are going to sell is always something which is virtual, like a service or a blog, or even something like a program store or a domain store.

The reason why making websites to sell on to other people is such a good money maker is because they sell for lots of money, and this is because people buy the whole package, as I have said before. Now I will explain this in a bit more detail. As you would when you buy a business in real life, an internet business has it’s own corporate identity and it’s own logos and marketing service as well, which would have to be produced to sell with the website.

The other really important thing that surrounds a business is popularity and on the world wide web this is measures in page hits. I would strongly advise, spend a couple of months developing your website and getting it to function as a business before you even attempt to sell it because the thing which will make it sell is an already established customer base, because this means an already established source of income. Everybody knows the hardest thing in the business process is setting it up and people are lazy. The more established it is, the more it will sell for, and the more worth it is for the hard work you have put into it. It is like investing: you have to wait for results. My motto in business, which I have learnt, often the hard way, is that patience is a virtue. And that really is all there is to it.

I have also written an article about making website templates to sell, which is less complicated, but a smaller return than selling web businesses, so please check that out if you like the idea of creating an income from your skills in web design. Thank you for reading and I hope this has been of help. For any further questions please contact me at peachy146@gmail.com.