Overview: Doing Business on eBay - Part 2
As stated in Part 1, because eBay is an open marketplace -- meaning that anyone can go there (eBay.com), and buy or sell items, eBay has created a feedback system. The purpose of this system is for users to grade fellow-users, as individuals. You will grade other eBay users as either positive (good), or negative (bad) -- based on their personal business reputation. The more positive feedback that you receive, the more reputable you are, as a business owner. Your feedback score (designated as a number between 1 and 10, with 10 being the best) is your publicly, worldwide-viewed, report card. If users see that you have a high feedback score, they will be more trusting of you, when it comes to buying and selling products, which can lead to get rich fast.
What is the Feedback System?
There are two important components to the feedback system. The first part is your feedback score; the second is your feedback rating. Your feedback score represents the number of different/separate eBay users, who have had a positive transaction while doing business with you. The second part is your feedback rating. Your feedback rating represents what percentage of your customers left you positive feedback, after you've bought or sold an item within the past twelve months. You want to first, reach 100%, positive, and then maintain that percentage.
Naturally, when you first get started working on eBay, your feedback score will be zero. But, it is critical that you build your feedback score as high, and as quickly as possible. By doing so, buyers will trust you as being a reputable dealer. The fastest way to build and maintain your feedback score, and to develop a positive reputation, is by purchasing items on eBay -- especially inexpensive, one-cent digital (downloadable) items.
What are one-cent digital items?
Examples of these one-cent digital items include: recipes, coupons, pictures, images, etc. Digital items are those products that can be shipped through email. These items are ideal because the seller is able to email the item for free, and all the buyer has to do is eBay download the product. My first product purchased was A Cajun Cookbook; I paid 16 cents.
Bidding on products
The bidding process is an online auction. The majority of these digital items cost less than 50 cents. Login to eBay.com and search for the above items. Preferably, you want to find an item that cost one cent, with free shipping, and no prior bids. If there are no bids, then you will be the first bidder. Since this shopping online involves cheap items, that you're probably aren't even interested in, you should bid less than 50 cents per item. The idea is to start creating your feedback system. After bidding and winning the cookbook, I subsequently purchased several more digital products: store coupons, pictures, wallpapers, etc. I was having fun! Using the bidding method, I purchased different products from different sellers, for a total price of less than five dollars. I watched my feedback score rise from 0 to 7; then I was off to doing something else. (I used my credit card.)
If you get outbid on an item -- that's not so important, because you are going to repeat this process several times, while building your feedback scores. After you submit your bid, you'll see the "Review and Confirm Bid" page. Make sure that these details are accurate; you wouldn't want to submit a bid for 50 dollars, when you intended 50 cents. After you've reviewed all the details on the "Review and Confirm Bid" page, then click on the "Confirm Bid" button. Next, you will be taken to a confirmation page that reads "Congrats, You're The First Bidder. Hope You Win". The main focus here is to repeat this bidding process until your feedback score reaches 10. This is very important: when you're bidding on additional items, make sure that you bid on items from different sellers. Your feedback score will increase only by one point, for every different user that you do business with on eBay. Part 1 Part 3
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