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Unavailable151: How To Manage Your eBay Income - Liz O'Kane
Currently unavailable

151: How To Manage Your eBay Income - Liz O'Kane

FromSo You Wanna Sell On eBay


Currently unavailable

151: How To Manage Your eBay Income - Liz O'Kane

FromSo You Wanna Sell On eBay

ratings:
Length:
36 minutes
Released:
Jul 24, 2018
Format:
Podcast episode

Description

Liz has been selling on eBay since 2002. She sold part-time, on and off, until she retired from the Air Force at the end of 2016. She has been selling full-time and growing her eBay store ever since. Interesting Notes Liz calls herself a Jack of all Trades when she was working in the Air Force. She sold part-time on eBay, on and off. Two years before she retired, she ramped up her game and was selling well. She followed eBay very close even when she was a part-time seller. She treated eBay like it is a full-time job. She made a goal for herself that if she could hit her target in four months she will retire from her job. She would come home at night and do her eBay works. She would ship on her way in the morning. She would do her listings on the weekend. Her family supported her all throughout. When she retired, she looked for another job. She was confident that she qualifies for the job posts. But looking at the pay, she realized that she can make the salary working in their downstairs for eBay. With that, she decided to make eBay full-time. Liz lives in Colorado, thus her eBay store is Colorado ReWorn. She is doing a lot of upcycling with recycled clothing through the thrift stores. She is also into retail arbitrage. She sells all year round because she sells internationally. She is very fortunate to live in a place where she can do both thrifting and retail arbitrage. She enjoys both and does well in it. She sources depending on her inventory. If her inventory is running low on dresses, she will go straight to the dresses section of a thrift store. If she is getting ready for Spring and Summer, she will go straight to the skirt and sleeveless tops. There are certain things that she holds back when listing. She will not list new boots in May. Her experience taught her that those things do better in October and November. The weirdest thing she ever bought is a kids onesie that had a marijuana leaf on it. She bought it to get it off the shelf. But she thinks that she won't be selling that kind of thing. Liz has over a thousand listings and over 400 items not yet listed. She does her eBay business on their basement. She uses a big bedroom for her office. It is also where she keeps her listed inventory. The guest bedroom is also full of listed inventory. She keeps her unlisted inventory in a storage room. She uses clear bins so she can see the items right through it. She sorts her items by season. Right now, she has two bins of snow boots and bins full of kids winter coats. With the other stuff, she will sort by Men Shirts, Women Shirts or Skirts. She takes pictures of all the same item at one time. Doing so saves her time. It is easy to picture and easy to list. Back when Liz is doing eBay part-time, she called herself a tote-tote seller. That is, she has one tote for unlisted and another one for listed. As she grows, she added her totes. Now, she has a stock room. She has a filing system. She has all her shirts hang by brand. All her shoes are in totes by style underneath the shirts. She knows where everything is. But she admits that as she grows, she needs a better inventory management system. Liz is the type of a seller who likes clean and simple listings. She researches everything she sells. Her listings would tell the buyers exactly what they are getting. If there are tags on, she would put Waterproof or Insulated in the description. She sees negative feedback as what it is. She just has to provide a great service. If a buyer would complain to her, she would answer, "Hey, I'm sorry. How can I take care of it for you? What can I do to make it right?". If the buyer would not respond, then she will take it as it is and moves on. Liz eBay business is growing. She has started in social media. She notices that she has more new customers. She has some repeat customers in some categories. She has a lady buyer who is remodeling her Airbnb. The lady asks Liz links to her new stuff so that she the lady can have the first look. A lot
Released:
Jul 24, 2018
Format:
Podcast episode