Making money online is tough. I’ve been in the business for the past 7 years, and have years where I absolutely crushed it, and years where I’ve straight up lost money.
So with that being said, I wanted to put together an analysis of entrepreneurs who started a blog that is making them well over $10,000/month, and breakdown the exact strategies they’re using to make all this dough in a simple to follow infographic.
That’s not all…
But making money online is more than just from blogging. eBay is still a huge opportunity. I remember selling Dell computers on eBay to pay my way through college.
In the first quarter of 2016, Ebay reached 162 million active users. With a userbase that large, it is surprising that so few bloggers use the online marketplace as a viable means of monetization, especially when you consider that only around 25 million of those active users are sellers.
So, is it possible to make money selling on Ebay? If so, why are so few people doing it?
In short, yes. You can easily make money selling on Ebay. As a matter of fact, over $82 million o gross merchandise volume was sold on Ebay in 2015.
Once you have those 3 things, you are well on your way to making a profit.
Just ask Sam Oh, the man behind MoneyJournal, who easily managed to make money selling on Ebay by implementing a simple, self-taught strategy. With this strategy in place, he made over $300,000 in just 9 months.
Sam knows a great deal about cell phones, so he was partial to refurbishing and reselling those right off the bat. But how did he know that his Ebay audience would want to buy them?
With over 11 million searches being made on Ebay every single hour, it can be overwhelmingly difficult to pin down what people want to buy.
To get a better idea, however, Sam went to the Ebay advanced search page and searched for the product that he wanted to sell.
If you designate your search efforts into covering already sold listings, you will see if there is demand for your product, as well as competitive pricing.
Once he realized that iPhones were selling on Ebay, Sam knew that he had the right idea.
He set a goal for himself ($40,000 by the end of April) and a budget of $20,000 in inventory. After initially purchasing $14,000 in primarily damaged iPhones, he began fixing the phones and reselling them on the site.
In no time at all, he was making an impressive six figures from Ebay alone. He found so much success, in fact, that he expanded his online business to include video games and other technology items.
Ebay has such a wide, diverse population that it is more than likely there is a niche market out there for any item you may want to sell. If you know very little about fixing phones, it probably isn’t a great idea to get into refurbishing iPhones like Sam did.
You can, however, cater your Ebay marketplace to reflect your own strengths. A pair of shoes sells on the site every 2 seconds. Three women’s dresses are sold every 3 seconds. A bath item is sold every 14 seconds. Baby gear is sold every 3.5 minutes. The possibilities are endless.
With Sam’s proven strategy in effect, you can and will make money selling on Ebay in no time. You just have to find what works best for you.