Attention eBay Beginners! 7 Steps to Write Your eBay Business Plan

Running an eBay business is like running any other businesses, you need a plan. Without a proper business plan, you have no idea what to do next, when you are going to do it or how to do it.

It doesn’t have to be highly detailed or sophisticated. You just need to cover some basics.

I have outlined some basics about business plan here that you can modified or follow:

Step 1: Brief description about your eBay business:

Example: what business are you in? What range of products you want to sell? (high technology products? Electrical appliances? Info products? Collectibles?) & Who are your target customers? (Middle age working adults? Housewives? Teenagers?)

Step 2: Specialize in your product range:

As a beginner, is always recommended to focus in only one product range. In other words: be an expert of what you sell. Do lots of research on the range of products that you are going to sell.

Your buyers feel more confidence buying from an expert.

Step 3: Product sources, suppliers, wholesalers or dropshippers:

List down the sources where you can buy your merchandise. Always have more that one supplier, preferably three to four.

Sometimes different suppliers will give you different bargain.

Step 4: Set up your business financial budget:

What is your twelve month projected cash flow? How much start up capital you need? Monthly sales target? Business fix cost – internet connection, printer, electricity, telephone, fax and so on? Other investments – rent an office space, employees? Target profit margin?

Step 5: How to stand out from your competitors:

What is your unique selling proposition (USP)? If you don’t have a USP, is like another “me too” business and is not going to last very long. Develop a strength that only you have over your competitors.

Step 6: How soon can I get back my investment:

How much money you need to put in to your eBay business and how soon you can get it back. Set up a series of cash flow projection.

Step 7: Selling beyond eBay:

Besides selling on eBay, where can you market your products? Example: having your own website.

Do your best to follow all the seven steps that I have just shown you. You will be surprised how this exercise clarifies your thinking and give you confidence.