The best thing about being an entrepreneur is the freedom that comes with having our own eBay business No boss. No set hours. No rules.
The worst thing about being an entrepreneur is the freedom that comes with having our own business: No game plan. No strategy. No profit.
Being self employed can sometimes feel like a double-edged sword. But we can summon courage and be brave enough to take a closer look at why we are stuck. To question what makes our company tick and to get insight and ideas we may not have considered before. A business introspection, if you will.
That’s because reflecting on business shortcomings helps us to become aware of the need for change. In fact, by asking questions and analyzing problems, we can begin to get a better idea of our true business identity.
Why Am I In the eBay Business?
“Good question,” is usually the first thought that comes to mind. But one that quickly flutters away, because there really isn’t a good answer. Of course, like every self employed person, you want to make enough money to sustain your business. That goes without saying.
But the real reason goes much deeper. So think, think, THINK.
- Does your product help people?
- Can it make their lives easier in some way?
- Why did you decide to start your online auction site?
- Is your pricing accurate and fair for both you and your buyers?
- Do you feel good about what you do?
- Are there areas where you feel like you need improvement?
Remember, the more thought you put into your questions, the better answers you will come up with. Take notes. Make lists. Write it all down. Trust me. It will come in handy later.
What Makes My eBay Business Different?
It might be that you offer both live and fixed price auctions. Or maybe you offer one type, but not the other. Each way has its own pros and cons.
- What about your storefront design?
- Does it stand out and make visitors feel special?
- Do you promote a high-quality shopping experience with knockout customer service?
- How about free or low-cost shipping?
You could also consider the benefits and features of the products you are selling. While benefits are basically a tangible description of the product itself, features are the intangibles that will sell it.
How? It’s because features are felt on an emotional level. For example, if a widget in some way makes life easier for a customer, one of its features would be saving time. And who doesn’t want more time?
So you could develop a marketing strategy and brand identity based on how it feels to have more time to spend enjoying life.
Who Is My Ideal Customer for my eBay Business?
S/he is who you are speaking to, one on one, with your business offerings.
An ideal customer can be defined in terms of demographics, such as: gender, age, family status, occupation, net worth, hobbies and interests.
- What does this person think about?
- Is s/he stressed out for some reason?
- What do they need to make their life easier?
- How can you help them?
Can you match your “solution” to their “problem?”
If so, this is indeed your target market. And it’s why your marketing strategies and advertising campaigns should focus on this specific customer’s wants and needs.
This has been a quick peek at what your business can be, if you choose, as well as a starting point on the path of possibility. The next step is to transform the raw data from your thoughts and notes into your unique business identity and vision. But be forewarned.
The path is filled with obstacles to overcome—and dragons to confront.
Are You Ready?
Future articles will provide more stepping stones on this journey, each one building on the last. I welcome your thoughts and feedback below.
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- 3 Ways to Be More Successful With Multichannel Stores - June 6, 2020