I hear that phrase more than you could ever imagine. My email box
chimes numerous times every day with messages from individuals who've
heard from their cousins uncles boyfriends mailman's sister about what I
do on eBay, and they want a piece of the action, but they “don't know
what to sell.”
Turns out in most cases they already tried to find a supplier of iPods or Sony Playstations – because that's what someone told them is the top selling product on eBay. I applaud the fact that they actually did something, but what they didn't realize of course is that 389,000 other people had the exact same ‘genius' idea - and they couldn't make it work either. (In case you were wondering, not only are these products difficult to source, but the inexperience of the sellers' drives prices down until there's virtually zero profit margin).
If you're still in the phase of ‘what do I sell' let me share something with you that I think will change your mindset…
The other day I read about a new type of digital jukebox that had 10,000 songs in its ‘memory', compared to about 40 or so in a traditional jukebox. For the first time, customers in a bar or restaurant can choose from a whopping 10,000 songs. Now here's the fascinating thing – in a test, how many of those 10,000 songs do you think were played within a 3 month period? Like me, you probably guessed between 10% and 50%, right? The answer astounded even the manufacturer of this jukebox. When they downloaded the stats, they discovered that 90% of the songs were played within a 3 month period! 90%! And here's the real kicker. Of those 90% that were selected, the vast majority weren't played just once or twice, they were all played numerous times. Only a tiny percentage of tracks were played once or twice.
Can you see the lesson here?
When given free choice, consumers demonstrate how remarkably different interests they have. They are astonishingly diverse.
This means that eBay is a near perfect marketplace. There is simply no other e-commerce site that offers such a wide array of unique products and services in one place at one time.
Can you start to see why it's not necessary, heck it's actually foolish to offer iPods and PlayStations?
Instead of banging your head against a brick wall in frustration, go after a market where there's plenty of customers and little or no competition. There's plenty of ‘em by the way. Don't get me wrong. Some competition is good, but there's definitely a balance to be had. If there's so much competition that there's no profit in it, what's the point in gong after that market?
At the risk of sounding like a stuck record, here's my advice in a nutshell: (1) realize that there are an unlimited number of products or services that people are willing to buy on eBay, (2) create a unique information based product (CD / DVD / Software / eBook / Printed manual etc) in a subject that you're interested in and/or know something about. Finally, (3) apply the tips, advice, techniques and strategies in this newsletter to get on the fast track to consistent profits.
If you want the fastest shortcut to success, you need to invest in my H3 training workshop DVD's (see the enclosed offer). Newsletter subscribers get the best deal by the way, a substantial discount that will more than pay for your annual subscription.
It's one way I like to say thanks for your loyalty.
If you're still stumped about exactly what you should sell, the course holds your hand through the decision process, and gives you plenty of pointers about how to make the right decisions.
Don't worry if you don't like writing, don't worry if you don't think you're an expert in something, don't worry about anything. That's why I devised the course. Going back a few years, I had all the same concerns, and I show you how to overcome them.
So why don't I include the course in this newsletter? It's FAR too much content; we could only scratch the surface. So, this newsletter gives you the pointers, reminders, latest updates, and most of all the encouragement and support to make it happen!
Turns out in most cases they already tried to find a supplier of iPods or Sony Playstations – because that's what someone told them is the top selling product on eBay. I applaud the fact that they actually did something, but what they didn't realize of course is that 389,000 other people had the exact same ‘genius' idea - and they couldn't make it work either. (In case you were wondering, not only are these products difficult to source, but the inexperience of the sellers' drives prices down until there's virtually zero profit margin).
If you're still in the phase of ‘what do I sell' let me share something with you that I think will change your mindset…
The other day I read about a new type of digital jukebox that had 10,000 songs in its ‘memory', compared to about 40 or so in a traditional jukebox. For the first time, customers in a bar or restaurant can choose from a whopping 10,000 songs. Now here's the fascinating thing – in a test, how many of those 10,000 songs do you think were played within a 3 month period? Like me, you probably guessed between 10% and 50%, right? The answer astounded even the manufacturer of this jukebox. When they downloaded the stats, they discovered that 90% of the songs were played within a 3 month period! 90%! And here's the real kicker. Of those 90% that were selected, the vast majority weren't played just once or twice, they were all played numerous times. Only a tiny percentage of tracks were played once or twice.
Can you see the lesson here?
When given free choice, consumers demonstrate how remarkably different interests they have. They are astonishingly diverse.
This means that eBay is a near perfect marketplace. There is simply no other e-commerce site that offers such a wide array of unique products and services in one place at one time.
Can you start to see why it's not necessary, heck it's actually foolish to offer iPods and PlayStations?
Instead of banging your head against a brick wall in frustration, go after a market where there's plenty of customers and little or no competition. There's plenty of ‘em by the way. Don't get me wrong. Some competition is good, but there's definitely a balance to be had. If there's so much competition that there's no profit in it, what's the point in gong after that market?
At the risk of sounding like a stuck record, here's my advice in a nutshell: (1) realize that there are an unlimited number of products or services that people are willing to buy on eBay, (2) create a unique information based product (CD / DVD / Software / eBook / Printed manual etc) in a subject that you're interested in and/or know something about. Finally, (3) apply the tips, advice, techniques and strategies in this newsletter to get on the fast track to consistent profits.
If you want the fastest shortcut to success, you need to invest in my H3 training workshop DVD's (see the enclosed offer). Newsletter subscribers get the best deal by the way, a substantial discount that will more than pay for your annual subscription.
It's one way I like to say thanks for your loyalty.
If you're still stumped about exactly what you should sell, the course holds your hand through the decision process, and gives you plenty of pointers about how to make the right decisions.
Don't worry if you don't like writing, don't worry if you don't think you're an expert in something, don't worry about anything. That's why I devised the course. Going back a few years, I had all the same concerns, and I show you how to overcome them.
So why don't I include the course in this newsletter? It's FAR too much content; we could only scratch the surface. So, this newsletter gives you the pointers, reminders, latest updates, and most of all the encouragement and support to make it happen!
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