Are You Holding Onto Too Much Product?
We all love to make money but after a while when you get too
much product built up, you can start losing money. Why would we
do that?
What happens is we get in a mindset on the value we feel our
items are worth, rather than what we can get for them. That's
why when purchasing items it's important to keep in mind that
you make money when you buy, Not - When you Sell.
But we also get into the territory where you feel you should get
a certain price for something. We develop an emotional
attachment to our products. And that's what we need to shake....
immediately. This is the mindset that can make or break your
auction business.
You need to be watching your products and if something isn't
pulling in the money anymore, you need to blow it out. Product
on the shelves is not money in your pocket.... it's out of your
pocket. Product collecting dust is not collecting money in your
bank account.
When we relate this to your eBay business, the same goes for
what you have in your eBay store. Keep it fresh and alive. Have
special offers, only for those who are buying an auction AND a
store item. Do a two for the price of one deal or even give away
product with the purchase of another item that is moving quickly.
Make it something that they want and give them a deal. Blowout
product that you've had for too long. This will give you money
right away and gets you product you can actually do well with.
So, get out of the mind frame that to you need to make "X"
amount from certain products, if they're not pulling it in, then
"X" them out and move onto newer hotter products!