Spotting Business Opportunites

One of the many reasons why people are unsuccessful  and it is something that I have harped on about before, is that people become blinkered to their idea and sooner or later it will fall and they will have to find something else. We live in a world where everything changes and develops at such a speed. Sometimes new things have been developed before the old idea has even been realised.

This is something which we have to consider as businessmen too. I say businessmen in the fact that, no matter how big or small you are working on, you are showing and developing skills and mentalities of a business-lie manner and this is something which you have to be aware of. You may only be selling some kit-kats on the school playground but there are still a set of basic principals that you have to follow.

And this is one of them. You have to constantly self-assess yourself, your sales techniques, your products, and the wider market around you. For example, going back to the kit-kat example: It isn't going to be long before the kid over there gets the same idea and starts doing the same stuff as you. and then you have competition. And then you have to think about where you are going to head.

You have to decide whether you think you can move the idea you have onwards and upwards so you become a "market leader" of the playground, or whether you think there is money to be made elsewhere. Now persisting with 1 idea is hard work and not always 100% effective. Sometimes you just don't play your cards exactly right and everything goes down the pan.

My advice is when you get yourself into this position, you need to start thinking about something else. Always have 1 more idea in your mind, so you know there is always something to move to and somewhere to develop. This is a critical part of business. And this is where your 2 categories come in.

Let's take Peter Coates, my local butchers. They are currently in the 4th generation of the family business, about to hand down to the 5th. That is through the persistence and reputation in their area of expertise. The quality of their meat is very good, and the reliability of the sources that they get their meat from are also tremendous. Not only that, but everybody is aware they butchery their meat on their own on-site abattoir and this adds to their established reputation.

However, let's take Alan Sugar on the other hand. Started his life right when the world of audio technology was growing and booming, selling hi-fi equipment. He had that cavalier philosophy of ditching an idea and moving on as soon as he got any competition or opposition. and it was that that lead his busniess to grow, develop and become what it is today.

The difference between the two is the difference between persisting with one idea or moving between ideas and growing upwards all the time. The thing is that hi-fi equipment is not something which is highly skilled to make, it's not a craft like carpentry or stonemasonery, which is where butchery sits. So people are less worries about established reputation and more worried about price and value for money.

You can only make this decision, but my advice to anyone who is selling some bits and pieces small time, would be when it gets tougher, move on. I am not saying move from selling sweets to your mates to selling selling seed treatments to farmers, but just take the other fork at a crossing point.

Follow me on twitter: @peachy146

Setting up a Business on eBay

So you will arrive at this article with some intentions of having stuff to sell on the eBay store. This might be due to a clear out of the attic or garage, or you have a valuable item you would like to get rid of, or you may have arrived here by reading our article on yard sales, and feel you are ready to get stuck into setting up a business on eBay. Whatever, this article will guide you through how to sell on eBay and how to set up a business on eBay, along with other sites that you can use to sell your stuff.

With your items gathered, you will be able to analyse what sells well and what to put on at what prices. Now anything techy sells really well. There are loads of people wanting to pick up a bargain on iPods or cell phones or old TV monitors and even assorted cable spaghetti. Other things which sell well are watches and jewellery, along with toys and games. While these sell best, pretty much anything that you would buy second hand will sell on eBay, because the target audience is so big that the chances of people viewing a certain item each day are high enough for everything to be covered and craved on the eBay store.

While that sounded very nerdy and mathematical, essentially you have a good chance with anything, just a better chance with some things than others. For example, I tried to sell a clarinet reed on eBay just to see what happened, and I didn’t sell. Not a big enough audience wanting clarinet reeds because half the population don’t even know what 1 is, let alone have a use for it!

So with your selection of items sorted, you now have the tedious task of putting everything up. First I would advise that you take a photo of everything you need to sell. A good photo means a good sale essentially, and no photo means no sale. Or there about. So get a clean piece of white or black paper (white is better because it is happier and more inviting) and slope it against a wall on a table or something so you have a nice homemade studio. Now you don’t need a fancy camera for fancy photos, it is all about the light and the background. With background sorted, make sure there is plenty of natural light and place your desired selling object in a reasonably artist manor if you can manage it, and snap away until you get a photo which looks nice. I really enjoy this process and take ages over it, but if it isn’t your thing don’t make it last too long, however this is paramount to your eBay lot’s success.

Next you need to create an eBay account if you haven’t already done so and go to the sell an item under the sell tab. I also advise at this point you set up a PayPal account if you haven’t done this either, as this will help to maximise your sale chances further. The Listing Creation form is very intuitive and just requires a little knowledge around the bidding price area. With the start bidding price, it is free to list if you start at 99 cents or less, however you may want more for your item, so you have to weight up the risks and the value of the item.

The one thing I would say is don’t go to high, but don’t go to low either. Think about how much you would want for it, then how much you would pay for the item if you were going for a bargain and take of about 10%. That is the golden rule really. Also if you have purchased the item previously with the intent of selling on eBay, then you need to make sure you know how much you paid for it in the first place to avoid loosing money.

Another handy tip is to look around and see what the same item is going for on other listings on eBay. Remember people buying on eBay go for a bargain, not to splash out lots or else they would buy the item brand new, so this is important to consider as well. Make sure you are well clued about cost and type of delivery too, or else you could end up losing money by posting it for more than you bargained for.

While this may seem a lot of information to take in at once, they are small things that you need to think about to get that perfect sale. If you are considering buying on eBay as well with the hope of reselling, look out for things which you could split or join together for more money, or collectable items which you know a lot about that are going for a bargain. It might then be worth taking these to a specialist website or dealer for the chance of a better return.

While this article largely covers eBay, there is also the option of selling on Amazon and Play.com which would be more useful for books and CDs and DVDs, as these websites, especially the latter, specialise in these items and therefore getting specialist traffic to them. You just refine your target audience by doing this. Another website to look at is online classified ad directory, Loot.com, but expect more content about these websites at a later stage.

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.