How to Develop an eBay Business Plan that Works for You!

Develop an eBay business plan that works for you!

We built our online business up to over $1 million in annual sales, and we'd like to share some of our experiences with you.

It's absolutely necessary that you do some soul searching before you start your eBay business.

Why eBay?

Why should you build your business around eBay? You can start with virtually no investment and yet your potential is unlimited. eBay shatters the myth that only high risk leads to high reward. You don't need to be an expert to sell on eBay. You can learn from others and ramp up your knowledge quickly. By selling on eBay, you stay flexible. You can change the direction of your business quickly if you find a new hot opportunity.

Goals-your number one priority

In developing your business plan, look at your goals-what is your purpose for starting an online store? Additional income? Freedom from the boss? Flexible hours? Bragging rights at a cocktail party? Fun?!?

If you have a family, you need to consider them in your eBay business plan. How much time do you have available? You need to strike a balance between work and family, which can be especially challenging if you, as most eBayers, begin your business at home. Will your spouse and children be supportive-possibly even help with listing, shipping, etc? Or will they view your work as taking away from family time?

The beauty of an eBay business is that you can work at any time of the day or night, in long stretches or over several shorter blocks of time. But there are only 24 hours in a day, and you need to allocate time for sleep, homework, errands, and general family time. Combining your time constraints with your goals will help you determine the sales volume and profit margins you'll need to build into your plan.