Step 4: Start small

Don't throw money at bad ideas. Start playing around with different ad text and images. It doesn't cost a lot with eBay to try the most outrageous ideas, some will work and some won't. Best still you will know the results of your trials very quickly.

Step 5: Test and repeat

Once you have found a strategy that works keep doing it! But also keep testing new ideas the more strong sales strategies that your find the more reliable you sales will be.

Step 6: Work out a business plan

This doesn't have to be a professional document, just an outline of the market that you have broken into and possible opportunities. Identify your strategies that work and the items that are selling. Work out based on your current ROI (Return on Investment) what sort of budget you are prepared to risk. Remember with budgets it is all about risk assessment: what is the risk of losing everything weighed against the likely returns.

Step 7: Invest and expand

Introduce your money, investment means profit. Start buying inventory, but not more than you can sell in a reasonable amount of time. The last thing you want is unsold stock lying around because that is tied up capital that could be used for marketing. Make sure you get the lowest price possible. Buy in bulk and try to catch the supplier at opportune times such as the end of the month when they may be looking for the extra sales. Also try buying at the end of the day when they just want to get home and may be inclined to just close the deal. As you establish a relationship with your suppliers, secure further discounts on account of your continued custom and increasing quantities.

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