Every day more and more people are looking to learn how to make money fast. Both in the online and offline worlds people are starting realize that having a “job” and working 40 hours a week for 40 years is not the ideal way to live.
Here are some tips:
1.How to make money on ebay?
There is a lot of money to be made as a seller on eBay. Thousands and thousands of sales are made each day, resulting in a lot of income for a lot of sellers. And there is still room for you if you want to get involved – whether you want to earn some part time cash or set up a whole new full time business on the side.
But where do you get your stock from? How do you get started? And how can you build a business that gives you PowerSeller status? Relax – you’re about to find out.
It’s easy work to get started earning money on eBay. Once you’ve signed up for your free account the best way to get a feel for what selling is like is to auction off some of your personal items that you no longer want. If you are going to start buying stock to resell, you’ll do better by getting some basic selling experience first.
While we are on the subject of stock, you’ll need to decide what kind of business you are going to set up. Of course you can sell anything you like, but if you want to make a name for yourself it helps to become known for selling a specific type of product.
Now that doesn’t necessarily mean your product area needs to be a small one; on the contrary it could be quite large. You could sell toys for example – there’s plenty there to keep any seller going for months on end without selling the same thing twice. You do need to pick a popular product though, and it’s worth doing some research using eBay’s advanced search feature to find out what is selling and how much it’s selling for.
So let’s say you want to sell computer games, for example. There are hundreds of games you could buy to sell here, but if you don’t know which ones will sell you could lose a lot of money buying the wrong stock. By searching the ended listings you can see which titles consistently sell well, and which ones will produce the best profit for you.
Okay – so you know how to figure out what to buy. Now you need to know where to get it from. It stands to reason that no seller is going to tell you where they get their stock; that would be like giving away the keys to their business. In order to find the best sources for stock you need to do a bit of legwork.
We should mention here that there are two main sources for stock – wholesalers and dropshippers. Both have their pros and cons; it just depends on which method you personally prefer.
Dropshippers hold all the stock for you, so you only actually pay for an item once you’ve received payment from the customer. You may have to pay a fee to join the scheme in the first place though. If you choose to go with one or more wholesalers you will need to have the room to buy the stock, and the money to buy it in advance. This comes with more risk since you could buy stock that doesn’t sell, but with the tactic we’ve already covered for checking completed listings before you order anything, the risk here should be kept to a minimum.
So – back to where to find these sources. If you have a particular product in mind that you want to sell, the simple act of looking at the packaging can often reveal the name of the supplier. You can then check out their website to see what else they do.
Another method is to search for what you want on Google. This sounds deceptively simple and in fact many people don’t think of doing this. It can be a bit hit or miss, but it’s possible to find some excellent wholesalers through this method. Over time you will go from having one wholesaler to a handful of sources to get your stock from, and you can build up your product range as you start to grow.
Building your feedback is an important part of being a good seller and the higher you can get your score the better. It sets you apart as being a dedicated seller. And the faster your score climbs, the closer you get to attaining PowerSeller status.
The PowerSeller symbol is highly prized among serious eBay sellers, and there are five levels to strive for. The first is Bronze, and it’s a lot easier to reach than you might think. While you might set a goal for yourself to reach PowerSeller, you will find that if you build up your product range and gradually increase your sales, you will reach it in no time. And if you get off to a great start you might just do it in three months – the minimum time you can actually do it in.
Many sellers have their own shop on eBay, but it’s not necessary when you first get started. In fact you are often better off waiting until you have a good range of stock before opening a shop, since it can look rather empty if you only have a handful of items.
The final thing to think about is the price of the items you are selling. It stands to reason that if you sell a hundred different products in the $5 to $10 price range, you won’t make as much cash as you would selling a hundred in the $50 to $100 price range.
But you need to work out what you enjoy selling and what you can sell lots of to experience real success on eBay. Don’t go for expensive products just because they might bring a bigger profit. Go for your calling – that’s where you will experience the biggest success.
Above all, remember that it can take time to build a successful business – but if you’re determined to achieve real success on eBay you should be enjoying the journey.
2. Make money flipping websites
But where do you get your stock from? How do you get started? And how can you build a business that gives you PowerSeller status? Relax – you’re about to find out.
It’s easy work to get started earning money on eBay. Once you’ve signed up for your free account the best way to get a feel for what selling is like is to auction off some of your personal items that you no longer want. If you are going to start buying stock to resell, you’ll do better by getting some basic selling experience first.
While we are on the subject of stock, you’ll need to decide what kind of business you are going to set up. Of course you can sell anything you like, but if you want to make a name for yourself it helps to become known for selling a specific type of product.
Now that doesn’t necessarily mean your product area needs to be a small one; on the contrary it could be quite large. You could sell toys for example – there’s plenty there to keep any seller going for months on end without selling the same thing twice. You do need to pick a popular product though, and it’s worth doing some research using eBay’s advanced search feature to find out what is selling and how much it’s selling for.
So let’s say you want to sell computer games, for example. There are hundreds of games you could buy to sell here, but if you don’t know which ones will sell you could lose a lot of money buying the wrong stock. By searching the ended listings you can see which titles consistently sell well, and which ones will produce the best profit for you.
Okay – so you know how to figure out what to buy. Now you need to know where to get it from. It stands to reason that no seller is going to tell you where they get their stock; that would be like giving away the keys to their business. In order to find the best sources for stock you need to do a bit of legwork.
We should mention here that there are two main sources for stock – wholesalers and dropshippers. Both have their pros and cons; it just depends on which method you personally prefer.
Dropshippers hold all the stock for you, so you only actually pay for an item once you’ve received payment from the customer. You may have to pay a fee to join the scheme in the first place though. If you choose to go with one or more wholesalers you will need to have the room to buy the stock, and the money to buy it in advance. This comes with more risk since you could buy stock that doesn’t sell, but with the tactic we’ve already covered for checking completed listings before you order anything, the risk here should be kept to a minimum.
So – back to where to find these sources. If you have a particular product in mind that you want to sell, the simple act of looking at the packaging can often reveal the name of the supplier. You can then check out their website to see what else they do.
Another method is to search for what you want on Google. This sounds deceptively simple and in fact many people don’t think of doing this. It can be a bit hit or miss, but it’s possible to find some excellent wholesalers through this method. Over time you will go from having one wholesaler to a handful of sources to get your stock from, and you can build up your product range as you start to grow.
Building your feedback is an important part of being a good seller and the higher you can get your score the better. It sets you apart as being a dedicated seller. And the faster your score climbs, the closer you get to attaining PowerSeller status.
The PowerSeller symbol is highly prized among serious eBay sellers, and there are five levels to strive for. The first is Bronze, and it’s a lot easier to reach than you might think. While you might set a goal for yourself to reach PowerSeller, you will find that if you build up your product range and gradually increase your sales, you will reach it in no time. And if you get off to a great start you might just do it in three months – the minimum time you can actually do it in.
Many sellers have their own shop on eBay, but it’s not necessary when you first get started. In fact you are often better off waiting until you have a good range of stock before opening a shop, since it can look rather empty if you only have a handful of items.
The final thing to think about is the price of the items you are selling. It stands to reason that if you sell a hundred different products in the $5 to $10 price range, you won’t make as much cash as you would selling a hundred in the $50 to $100 price range.
But you need to work out what you enjoy selling and what you can sell lots of to experience real success on eBay. Don’t go for expensive products just because they might bring a bigger profit. Go for your calling – that’s where you will experience the biggest success.
Above all, remember that it can take time to build a successful business – but if you’re determined to achieve real success on eBay you should be enjoying the journey.
2. Make money flipping websites
Domain name flipping is the simple process of buying a domain name and then selling it for more money – so what exactly is website flipping all about?
If you’d prefer something a little more challenging (and potentially a lot more profitable) then website flipping might just be for you. It’s a longer process but the time you invest in this particular activity can net you a lot of cash. And there is more than one way of doing it as well, as you’re about to find out.
There is an ever growing band of people who have figured out that flipping websites is a great way to build up skills, knowledge and an impressive income at the same time.
The basic idea starts with you looking for a topic which does well online. Once you have a successful website on that topic (which you’ll do in one of the following two ways) you can offer it for sale to someone else.
The first way to do this is to start from scratch by selecting a domain name, building a website around it and building it up until it gets a good amount of traffic and interest from people who are into that subject. This can take some time as you will need to get the site indexed in Google before you can take advantage of the amount of search engine traffic that can come your way.
The idea is to build a site that has real money making potential, as well as being able to generate a good volume of traffic. You can do this by integrating elements such as Google Adsense, affiliate links and paid advertising into the site – and in some cases, paid memberships as well.
The second route to follow is easier – but it requires a little bit more research on your part. If the idea of building a site from scratch doesn’t appeal to you but you still want to sell websites for profit then this method should be the one to try. The trick is to look for a website that someone has built which is getting a reasonable amount of traffic. Keyword research will reveal those subject areas and keywords which are perennially popular online, and it is these kinds of websites you should be looking for – something that will always be pulling in traffic.
The fact is that you cannot simply pick a great domain name and stick a few articles and affiliate links on a website and expect it to make money. It takes time and effort, and that’s why websites which have the potential to do really well end up failing. It’s not so much the site as the owner in many cases.
So if you make a reasonable offer to that owner for their website, the chances are good that they will be only too pleased to get shot of the site. And that gives you the chance to get in there and really develop it in order to build on the traffic and potential it already has.
After a few months – when you are earning a dollar or more every day from your website – you can think about selling it. There are a number of websites and forums that have sections for flipping websites to other people, and depending on the profits you are making and the traffic you are getting you could make anything between a few hundred dollars to a few thousand dollars by flipping just one site.
And once you’ve done that and no doubt learned a lot from the experience, it’s a case of ‘rinse and repeat!’ There is no limit to the number of websites you can flip at any one time, although don’t forget you need a few months to go by before you make your first sale since you need your websites to develop before you can flip them. Once you get the ball rolling though you can expect to be selling one or more every week.
But before you become a ‘pro flipper’ for a living, why not leave us a comment in the box below? Then all you need to do is start scouting round for your very first flippable website!
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