Copyright (c) 2009 Michael A Jones
The eBay business model can leave you aghast! It rates as one of the greatest business success stories of all time. The concept is quite simple but brilliant. eBay is a worlwide marketplace which has brought about a person-to-person online trading community. eBay brings buyers and sellers together. Successful? Consider this – it started out as AuctionWeb in 1995 in California. It went public in 1998 and the founders of the company became instant billionares.
These facts about the eBay business model make fascinating reading:
This year over 2 billions items will be listed for sale.
Daily thousands join the already registered 200 million users.
Transactions to the value of $400 billion have been made since eBay started.
$50 billion dollars are now spent each year which averages out to $100,000 per minute.
Half of all persons who use the internet visit the eBay site at least once in a month.
eBay has over 2 million visitors a day.
and lastly, many people from all walks of life, from different cultures and backgrounds, have taken hold of the eBay business model and transformed their financial situation, allowing them to live in ways they could only dream about. Having achieved financial freedom, men and women can now work from home and pursue other goals in life which are meaningful and worthwhile to them.
Is it any wonder then that there continues to be huge interest in the eBay business model? Could it be for you? Have you ever wondered about starting an eBay business? As stated before, the concept is simple. Buyer meets seller. A price is agreed upon and the transaction carried out. To make a profit simply get products at a lower price and then sell them at a higher price. That’s it.
However, although the concept is simple, creating a successful eBay business model for yourself is not so straightforward. There are pitfalls and dangers to avoid. There are certain methods and principles you need to employ. All of this requires time and effort to learn and practice. There are numerous resources on the net that can give you a good education. (See resource box)
Here is one eBay strategy that is overlooked and very few are actually doing this. It revolves around the misspelling of item descriptions. From the millions of items that are put up for sale, there are always a number of mistakes made in the listings. Perhaps the seller just rushed to put the item up and didn’t check the spelling. Or English may not be the first language of the seller and they have not realized there is a wrong spelling in the item’s title or description.
How can this factor be utilized? If the item is not spelled accurately, it is unlikely it is being found by many people. This means few bids, and generally low bids. By searching out and identifying these items, a low bid can be made and the item acquired for a lower than normal price. It can then be resold at a higher price, with of course, the accurate spelling in the title and description.
There are even free services available that will check out misspellings for you. Particularly prone to misspellings are unusual sounding brand names. Even the common mobile phone manufacturer Ericsson can be often misspelled and these may come up in eBay listings under Ericson, or Ercsson, etc. Just type ‘ebay misspellings’ in your search engine to locate these free services for research.
Using this lesser known method, you can find quite large differences in price with the same items selling on eBay. If you are a bargain hunter, look out for misspellings and incorporate this untapped goldmine into your eBay business model.
The history of the eBay business model makes fascinating reading. Beyond satisfying your curiosity however, you may want to examine it further with a view to establishing a second income stream for yourself. In these times of economic uncertainty, it is wise to think ahead and get additional strategies in place for earning income. The eBay business model may just be the opportunity you are looking for.
About the Author:
eBay is providing the vehicle for huge sums of money to be made by just ordinary people every day. You can read some amazing success stories here and see the business plan they followed:
eBay Business Plan
Article Source: ArticlesBase.com – The eBay Business Model and a Largely Unused Strategy
The new business model
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