Advice from an Auction Genius
Renowned eBiz author Sydney Johnson created the now-famous Auction Genius courses to aid people wanting to create their own e-businesses. She shares some important tips for anyone looking to learn the online retail industry:
Tip 1Start Small.
Many of Johnsons students are eager to dive in head first, ready to invest all their savings into overseas imports or shopping network returns. But Johnson discourages such risky moves for two reasons.
They havent considered all the coststhe enormous minimum quantities theyll have to buy to get the discounted prices or the tremendous costs of shipping imports.
They have little experience and, therefore, no way of knowing all that these transactions entail.
Says Johnson, Youre going to make mistakesThe way to minimize any kind of horrible error is to go very small. Dont invest a lot to start withlearn with inexpensive items. Start with a minimum investment; and as you begin to make a profit, put that money back into your business rather than buying new golf clubs or tennis shoes.
Tip 2Research the Market and Test your Results.
As you go, youll learn which...
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