With my brain highly focused on outsourcing these last couple of months, I’ve been revisiting my old experiments with a new strategy.
I’ve dabbled with eBay here and there but never really gave it my full attention.
This time I decided to get my VA to list 100 products for me. I paid him $100, ($1 per listing), and he’s currently listing away.
So far he has listed 30 products and we’ve already made 4 sales! Each sale gets me $20-$40 in profit so things are looking pretty promising.
The Methodology to Build this to $10k+ per Month
My method of doing things has always been different to others.
I like validating my ideas before I go full scale so before I make an elaborate plan to take over the world with my business idea, I’ll set a small test just to see if sales can be made using this idea.
So this is the method I used.
- Get my VA to list as many products from Aliexpress as he can, (I’ve increased me eBay listing limit to 400 items).
- See which ones get the most traffic and sales.
- Focus on these niches and list more of these products.
- If any sales are made, tell customers I’m out of stock, products will take 4 weeks. If they’re ok with this buy the product, if not cancel.
- Overtime, I’ll have a handful of products making me consistent money. These are the ones I buy in bulk and keep in my warehouse.
Just like anything in ecommerce, this seems to also be a numbers game. The more you list, the more you sell. Cool thing about eBay is it’s all buyer traffic!
eBay also gives you a summary of which products are getting the most traffic, see below.
So if we have 400 products listed with each product getting an average of 2-5 clicks per day, that’s over 1,000 buyer traffic to our products!
If conversion rates are even just 1%, we’ll be getting 10 sales per day. Each product at $20-$50 profit margin – Let’s say $35 profit average.
10 x $35 = $350 per day
30 x $350 = $10,500 per month!
Now, this is all very hopeful and ofcourse I need to follow through but that’s going to be a lot easier than before as my VA should handle most of the listing and customer service.
This is from just 400 products listed. Imagine if I’m listing 1000’s?
Outsourcing – Automating the Process
There’s a lot of money to be made here. Potentially millions if I can get the system right. The coolest thing about it is that it can all be outsourced!
The tasks I need done are,
- Listing products/Managing listings
- Customer Support
- Ordering products/Stock Control
- Packing and Delivery
That’s a team of 2 people. One to do the first 3 tasks and another to do the deliveries.
Other than that, I just need to make sure the accounts in good standing, we’re profiting and….not much else hey?
Cool thing about Amazon or eBay businesses is that they’re sellable.
So, if I could get this to where I want to be, there are a tonne of people here in Australia that would love to own an eBay business! Especially those reaching retirement and are looking for some form of income that doesn’t require work.