Tuesday, 7 September 2010

Ebay Millionaires

Some good news amidst the gloom of the recession. The number of UK eBay millionaires has doubled in the last 12 months, from 66 in 2009 to 127 in 2010.
Many of these new millionaires are one man bands or family businesses, and what's even more amazing is that 7 of these businesses only started trading this year.

These small, e-commerce entrepreneurs, are bucking the current trend of bankruptcy and economic uncertainty. They are thriving whilst many traditional, small businesses are closing down as a result of the recession

Ebay calculates that some 25,000 people have started trading on their platform since the recession begun. So, the 127 millionaires may not seem a significant number, but it's growing year on year.

John Ford, eBays director for SME's states that “e-commerce is accessible to all”. The entry costs and overheads are low compared to traditional businesses. Making it easier to achieve rapid success.

This report by eBay is encouraging to anyone looking to enter e-commerce. Many were put after the dotcom bubble burst about 10 years ago, but with a good idea and almost no investment you might just be the next e-commerce millionaire.

I must admit I have never made any more than about £3,000 in one month from eBay so this leaves me a long way short of being an eBay milionaire. What eBay does give me however is an constant stream of warm, willing to buy visitors who land one of my sites after buying from me on eBay.

The best way way I have found of using eBay is use it as a lead generator. I offer items for sale starting at 99p with no reserve, and once the auction is over I send the item out promptly to the buyer. They then give me good feedback, and develop confidence in buying from me.

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