eBay Millionaire or Bust: Hidden Strategies That Maximize Profits and Create Wealth by Corey Kossack

Introduction     xiii
Profitability
Understanding Your Profit Margins     3
eBay Insertion Fees     4
eBay Final Value Fees     4
eBay Buy It Now Fees     5
eBay Feature Fees     6
PayPal Fees     7
Postage Rates     7
Listing Formats: Auction, Fixed Price and Store Inventory     7
Profitability Examples Using the Fixed Price Format     10
Auctions     14
Profitability Examples Using the Auction Format     16
Using the Store Inventory Format     22
Store Inventory Format Insertion Fees     23
Store Inventory Format Final Value Fees     23
When to use the Store Inventory Listing Format     24
Profitability Examples Using the Store Inventory Format     28
Unpaid Items     31
Monitor Unsold Listings To Maximize Profitability     33
Profitability Examples that Examine Unsold Listings     36
ProfitBuilder Software: The Most Powerful Tool to Maximize Profits and Analyze Risk     53
Hidden Tips and Tricks to Cut Costs and Boost Your Profitability     59
Packaging Materials     59
Boxes     61
Free Priority Mail Boxes     61
Free Boxes From Businesses     61
eBay Fees     62
The Second Chance Offer     66
Create New Listing to Save Insertion Fees     66
PayPal and Other Forms of Payment     68
Merchant Accounts     68
Use Your Banking Relationship to Profit on the "Money Float"     70
Accepting Cashier's Checks and Money Orders     73
Shipping Costs     73
Flat-Rate Priority Mail Service     73
Free Carrier Mail Pickup     74
Multiple Shipping Options     75
Shipping Insurance     75
Cost of Goods     77
Employee Wages     77
Labor Costs and Business Processes     79
Answering Emails     79
Packaging Your Orders     80
Standardize Your Products as Much as Possible     82
Fulfillment Houses     83
What Type of Business Do You Want to Be?     86
Product Acquisition and Pricing
Understanding Your Role in the Supply Chain: Finding Products to Sell     89
Get the Account     92
How to Present Yourself to a Large Distributor     92
Finding a Large Distributor     93
Liquidators      94
Large Distributors vs Liquidators     95
Distributors that Accept Returns     96
Trade Shows     97
Negotiating: Nothing is Impossible, Always Ask Questions     99
What You Want     99
What You Can Get     101
Ask Questions     102
Product Selection: How do I Know What Will Sell?     105
Do Your Research     106
The ProfitBuilder Risk Ratio     109
Product Pricing: Is Being the Price Leader the Way to Go?     119
Different Pricing Strategies for Different Situations     121
Using a "Mixed Bag" of Prices     123
Adapting the "Mixed Bag" Strategy to Your eBay Business     124
Using the "Mixed Bag" Pricing Strategy with Complementary Items     125
Running Your eBay Business
Customer Service: Be All You Can Be     129
What the Customer Wants     129
Most Buyers Don't Read     133
Over-Promise and Over-Deliver     134
Email Response Time     135
Dealing with the Angry Customer     135
Building Up an Exceptional Feedback Record     137
Leaving Feedback for Customers     137
The Shipping and Handling Dilemma     139
Keep it Simple      143
Start Small, Keep Costs Low and Build From There     145
Rent for Office or Warehouse Space     145
Employees     146
Quitting Your Day Job     147
Fund Your Start-Up by Selling Off Personal Items     147
Investing and Wealth Building Strategies
The Government Wants to Help You be Successful     151
How Operating an eBay Business Can Save You Taxes     152
Corporate Filings and Business Structures     154
Increase Your Profits Using Business Deductions and Loopholes     157
Start-Up Business Deductions     158
Costs of Setting Up Business Structure     159
Cost of Licenses     159
Office Supplies     159
Office and Equipment Costs     159
Bookkeeping Set-Up     159
Costs Associated With Selling on eBay     159
Costs of Inventory     159
Learning and Educational Expenses     159
Daily Business Expenses     160
Auto Expenses     161
Meal and Travel Expenses     161
Medical Expenses     162
Special Loopholes for Homeowners     163
Become an eBay Millionaire     167
Investing Examples      168
The Final Word     171
More Profitability and Unsold Listing Examples     177
Glossary     189
Index     199
About the Author     207