Bonanzle


I’ve been selling items online for about 5 years now.  Currently and hopefully for the rest of my working days this is a full-time gig.  In the past it has run the gamut from part-time in addition to a full-time lifesucking corporate job, little time because it was just a hobby, to virtually no time as in listing on occasion and letting the “business” sit there until a sale occurred.

 As with most things in my life, I have learned this business the hard way.  From my mistakes, from others’ mistakes, from reading incessantly for hours, and from trying a variety of new things as I went along.  Some attempts were successful and many were abyssmal failures but all were necessary to get where I am today – a mild to moderate success with much improvement needed.  🙂

I still feel like I don’t know a lot about this business but there are a few things that I feel that I know for sure.  These thoughts have occurred to me a lot in the last few weeks so I felt the need to write them down.  You may agree with some of these things.  You might strongly disagree but this has been my experience.

1.)  Online selling is a numbers game.  All the studying, Tweeting, webinars and podcasts do NOT replace listing and more listing.  The more I list, the more I sell.  Period.

2.)  Surround yourself with whiners, complainers, and do-nothings and that is what you become.  There are plenty of capable, successful people on the internet that are more than happy to be an example of what works and will share many helpful ideas on their blogs or on Facebook/Twitter.  There is a disproportionately large number of disgruntled negative sellers that feel the need to channel all of their energy into “not selling so that I may complain.”  Avoid them.  They are everywhere.  Especially in chat forums.  Enough said, until you get to Number 4 anyway.  But first, Number 3… 

3.)  Put the Best Offer on your eBay listings and OBO (Or Best Offer) on Bonanzle.  Not everyone will be a lowballer and I can always reject any offer.  It’s also FREE, so why not?  This single item is the best thing that I’ve done for my eBay store this year.  Not every buyer uses it but many want to haggle and succeed in getting an even better deal.  Some offers get declined but I wake up to a few of these every day.  In a tough $$$ week, I’m happy to see these offers because they represent to me “money in the bank.”  If I accept an offer on eBay, it’s an automatic sale.  Craig Stark of BookThink just wrote about this feature and his experience was similar.

4.)  Chat forums are, by and large, supreme time wasters.  Hours can go by while I read about the latest “controversy” on each venue.  I use the chat rooms now as a water cooler (with time limits in place) or as a place to go to find answers.  Working at home is isolating but I don’t need to have hours of online conversation either.  Don’t even get me started on the people who spend all of their time Tweeting news stories all day…  😦

5.)  Be flexible.  As much as it pains me to constantly change and ‘roll with it, baby’, it’s a fact of life online.  Things move fast here and when you sell on many venues there is always a “major change” ahead.  Each venue is constantly improving themselves (or they’re trying anyway) and that means CHANGE.  Whether I like it or not.  Will I complain if I don’t agree with the change?  Yep, but hopefully not for hours in a chat room and not for long.  I will tell myself to get over it and plan accordingly.  It’s their sandbox and I’m not taking my toys home unless it causes me to lose a significant amount of money.  Then I’ll just leave. 

Many MANY people criticize eBay.  I have many not-so-nice opinions of the way they’ve done business over the last two years.  I’ve never left them though.  It’s where I have made a large amount of money and their traffic still can’t be beat.  When I tell people that I sell on Bonanzle, they’ve never heard of it.  This is changing and it’s why I stay even though my sales there have been poor.  I have faith in Bonanzle and the people that run it.  When I tell people that I sell online, they say “You sell on eBay?”  It’s still the synonomous word for “online sales” and that is where the average internet buyer will go to look for a deal.  So I stay there and roll with the changes, for good and for bad.  Which brings me to…

6.)  Sell on various venues.  Don’t get roped into believing that one venue is the answer.  Always have an alternative site or, in my case, many sites.  I’m not so enamored of eBay to not realize that they can shut me down in a second.  I’ve read all the stories and heard all of the tales.  If Bill Harding at Bonanzle was offered a mega-million dollars to turn over the keys to Bonanzle, would he be foolish enough NOT to take it?  Even if it happened to be from his competitor?  And I wouldn’t blame him one bit for taking it and running.  These types of things happen all the time in business.

Spread yourself around and try to stay away from trouble.  Read the guidelines of each site and try, although this one is tough, to keep up with the ever-changing rules of each site.  Don’t try to cheat the system.  Don’t give a venue a reason to shut you down.  If you get an offer on eBay, keep it on eBay.  If you’re not allowed to direct a buyer to your blog off-site, don’t post your website on your listing.  When you get a sale from Borders through Alibris, don’t tout your own site in your packing materials.  “Dance with the one that brought ya” as they say. 

7.)  Sell a variety of items.  Having a mix of new, used, collectible, and rare items is a good plan for me.  Used books are becoming harder and harder to sell for any real money.  This is the market that I started in and it is becoming the part of my business that I’m spending the least time with.  The Kindle is here whether we like it or not.  Used books donation bins are becoming a business model for more and more megasellers.  Friends of the Library sales are increasingly rare and usually picked over by the libraries themselves, who have finally figured out that the books they were selling for 25 cents are worth a lot more to keep and sell on their own.  Amazon is continually hawking how easy it is to “Sell Yours Here” to anyone that pushes the button.  Anyone can be a bookseller on Amazon, just hit the button.  Many wholesalers are now competing against their retail customers too. If I stayed with the books I would be very much worse for the wear right now.

These are just a few things that I know and I have so much more to learn.  For now, I’ll be listing auctions for the rest of the day because —  8.) Blogging  doesn’t make me money despite what I’ve read on Twitter…

My newest Bonanzle booth for camping signs, equipment, and all kinds of stuff to be added soon. 

Check it out!

http://www.bonanzle.com/booths/camparoundtheclock