Tuesday, April 12, 2016

eBay Sellers - Follow Kevin O'Leary's 10 Rules for Success

Hey eBay sellers!

I have been spending a lot of time with my 30-day YouTube challenge. I hope you are enjoying the content and find it useful.

I wanted to share this video of Kevin O'Leary's Top 10 Rules for Success. If you don't know Kevin, he is a billionaire investor and the "bad cop" personality on Shark Tank. He has many good points that apply to entrepreneurs and eBay sellers.

To summarize:

1. You have to sacrifice a lot. 

eBay application: It takes time and patience to build this business. 

2. Trust your gut.

eBay application: When you have that intuitive nudge that an item will sell,  is interesting or collectible, stop and research it. That's the universe talking to you.

3. Diversify.

eBay application: Get out of your comfort zone and try new things. Opportunities are everywhere. Get out of your own way and LEARN new things.

4. Have a back up plan.

eBay application: Learn to sell on other sites, Facebook buy and sell groups, etc. Spread the risk around.

5. Be a leader.

eBay application: Tell every one you know what you do. Shout it from the rooftops. You never know what kind of opportunity will fall in your lap because you know this skill. Example - my hair dresser just connected me with a client who has $15,000 worth of jewelry to sell on consignment. 

6. Admit your weaknesses.

eBay application: I am not good at graphic design, accounting, doing taxes, or programming. I pay people to do those things so I can make money writing, selling on eBay, consulting, and other tasks I enjoy and excel at. 

7. Buy stocks with dividends. 

No comment here - I'm not qualified to give investment advice.

8. Differentiate between family, friends, and money.

eBay application: Be careful who you do business with. Period. Don't sell on consignment for family. It never ends well.

9. Get outside of North America - go global.

eBay application: Ship internationally. Discover how easy global shipping is here!

10. Go with simple ideas. 

eBay application: Don't overcomplicate things. Take good photos, use good keywords, describe your item properly, be customer friendly, treat customers the way you want to be treated. Shop, list, ship, repeat. It's easy.

If you aren't watching Shark Tank, make it your new habit. Watch on ABC, CNBC or on YouTube. The Sharks are billionaire entrepreneurs who have great wisdom to share - listen to what they tell start-ups. 

And check out my YouTube challenge here!

Have a great week!

Related Posts:

eBay Success Depends on Good Record Keeping

Consignment Done Right - 140,000 Items

eBay is Marathon not a Sprint

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