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Getting started on eBay can be overwhelming for the newcomer who has no idea where to begin. That’s why it’s helpful to look at those who have built successful businesses in this venue. To get to where they are now, the most accomplished entrepreneurs all learned to do six things. All six require willingness to study and learn — but then, so does being a successful online retailer.

1. Identify Emerging Markets
An emerging market is one in which the bid rate is growing at a faster pace than the listing rate. Unlike a hot market, which has reached its capacity, an emerging market still has room for growth. Don’t chase after hot-ticket items with saturated markets. You’re looking for neglected niche markets with greater demand than supply. Http://Andale.com and http://Hammertap.com offer market research tools that can show you what’s selling and what people are looking for.

2. Look at Your Competition
Find out who the big sellers are in your category, and look at what they do to put themselves on top. While it’s okay to borrow some of their more successful tactics for your business, don’t become a carbon copy. Distinguish yourself by catering to your particular sub-niche. Being unique allows you to build a following of loyal customers.

3. Set Your Prices
The first place to look is your competition’s prices. Bear in mind that the greater the range you average, the more reliable that average is going to be. Again market research tools can give you your item’s average selling price and also show you all the factors that influenced prices. They can interpret the data for you and show you how to get the most for your item — the best day and time to end an auction, which listing features draw the highest bids, etc.
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What’s a Feed?
Feeds are a way of sharing content. When you make material from your web site, like articles and blogs, available for publishing on other sites, you have to provide them with a code that lets them post those things. There are different kinds of code — XML, RSS, Atom, etc. — but essentially, they’re all just different ways of accessing a feed.

According to Internet expert Sydney Johnston, of http://Auction-Genius-Course.com, “The great thing about a feed is everybody wins.” The article writer gains exposure, the reader learns about something valuable or interesting, and the online seller gets an endless source of pertinent content for their web site.

What Can a Feed Do for My Online Business?
Feeds are useful in a number of different ways:

• They Eliminate Spam Filters.
They’re 100% opt-in, so readers can subscribe and unsubscribe at will. Feeds are delivered directly to your subscribers, so you don’t have to contend with filters knocking you out of your customers’ inboxes.
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Advice from a Genius
Renowned E-Biz author Sydney Johnston created the now-famous Auction Genius courses (http://Auction-Genius-Course.com) to aid people wanting to create their own e-businesses. She shares some important tips for anyone looking to learn the online retail industry:

Tip 1 — Start Small.
Many of Johnston’s students are eager to dive in head first, ready to invest all their savings into overseas imports or shopping network returns. But Johnston discourages such risky moves for two reasons.

• They haven’t considered all the costs — the enormous minimum quantities that may be required, or the price of having their goods shipped from overseas, not to mention the incidental charges they may incur in the process.
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