eBay business

Opening a small business can be as easy as starting an eBay business!

Why eBay is Still a Great Place to Start an Online Business

Having your own small business can be as easy as starting an eBay business, buying and selling at eBay.com, one of the best online marketplaces.


eBay, one of the most popular online marketplaces, was founded in 1995, and is made up of buyers and sellers, regular people like you and me. There is still no place else where starting a small business is made so easy. Whatever means you choose to sell, online, offline at a storefront, or from a home-based small business, the key factor determining your success will be the amount of traffic you are able to attract to your business.


Even having your own website business does not guarantee instant success, because it will take time, know-how, and hard work to build consistent trafficand a profitable business, probably one or more years.


However, because eBay already has the traffic, when you buy into it, you are immediately buying into all that traffic, and terrific selling tools too! If you have a good product that people really want, starting an eBay business can be the quickest way to success.
eBay Selling Advice
after registering on eBay, go to ebay.com and before you began selling, do tons of research; if you have not already done so, get to know the eBay.com website thoroughly, in detail, including their fee schedule.
Know what sells well on eBay. For example, house wares are always selling well (but select any category you want). From any eBay page under the Category pull down menu at top of page (or from menus in left margin), select Home & Garden / Yard, Garden & Outdoor Living / Outdoor Cooking & Eating (use menus in left hand margin to refine search for each selection). Then in left margin of the "Outdoor Cooking & Eating" page, scroll further down and click on "Completed Listings."
Scroll down and find those items sold that had lots of bids or sales. These will be items that are popular and selling the best. This is one direct and easy way to research and find the types of products that might be the most profitable for you to sell on eBay.


Research the sellers of popular items you have found. Study eBay members that are successful (many times these are eBay "Power Sellers") by studying the content and design of their listings.
Look also for sellers that were not successful and try to determine why they were not successful in selling their item by examining such things as the listings content, style, particular item being sold, and its asking price.

What it takes to open & run a successful restaurant

What it takes to open and run a successful restaurant

Have you ever thought about opening your own restaurant and want to know what is involved? Perhaps you are a foodie and are curious to know what goes on behind the scenes. I interviewed Paul Turano, Chef/Owner of Tryst, to learn the real deal!


How did you get Tryst started?
I took a major risk opening Tryst. I had owned a 30-seat restaurant at the time and leveraged the equity from my condo, lines of credit, and personal loans with interest to fund it. I put all the money I had into the restaurant and lived very modestly until I was able to pay off all my debt.

One thing that was in my favor was that I had excellent credit and understood the importance of paying vendors and staff on time.

How did you come up with the name of your restaurant -- Tryst? Your website references the definition as being "1. An agreement to meet at a certain time or place; 2. A meeting or meeting place that has been agreed upon; 3. To us, a love affair with food and wine."


My friend who had worked for me part time at my other restaurant also owned an advertising agency came up with the name. I thought it was a perfect fit for what we were trying to do.

Why did you choose Arlington as a location?
Massachusetts Avenue in Arlington is a great location -- it's easily accessible and surrounded by affluent towns such as Winchester, Lexington, and Belmont, and there is parking on the street and in a nearby lot.


What type of food and drinks do you serve?
Contemporary American cuisine -- I like to keep the menu approachable, and it changes frequently. Offerings range from salads with chicken or salmon to fish tacos, house made pasta, striped bass, and steak tips. Fresh products from local sources are always used to the extent possible, and everything is made from scratch. We also serve wine, cocktails, and dessert and have a kids menu.


How do you know how much food to purchase for a given day or week?
It really is trial and error. You run out of something one week, you order more of it the next. If you go overboard, you have waste. After 2 years, you can start to look at trends in ordering.


What is it like to own a restaurant?
It is very difficult and there are different ways to do it. 1) You can open a restaurant on your own as a sole proprietor; or 2) you can open a restaurant with partners. Both can be rewarding. Option number two is the least risky way to do it, as there is often salary and benefits up front, and you don't have to raise as much capital on your own. I chose to do it on my own, and it was a very stressful option.

What challenges are involved in starting and running a restaurant?


Owning a restaurant is a 24-hour a day job. You have to always be available in case issues arise -- and they do. So many things can go wrong from the dishwasher breaking to food not being cooked properly, and there are so many decisions to make, such as which computer system or dishware you should purchase and hiring the right staff. It is key to find the right people, and there's lots of training involved.

There are also financial challenges -- there are many things in addition to food and staff that you have to pay for such as rent, chemicals, and dumpster fees, which all really add up. Overall, it is very challenging opening a new restaurant, and the first year is a battle. It took me 5 years to get the restaurant running smoothly, get return on investment, and be able to breathe. The debt was huge, and any money that came in went towards paying down the debt.

I have heard that getting a liquor license is challenging, was it for you?
It was a very difficult and expensive process. In Arlington, if you purchase a restaurant from a previous owner, the liquor license is not transferred. Once you get one, you don’t own the liquor license either like in some other locations, so there’s no cash value.


How do you stay current and successful in the restaurant business?
I always look to improve things and put myself in the customers' shoes. The kitchen team at Tryst constantly challenges each other to come up with a better presentation design, improve existing recipes, and develop new dishes. I am always trying to come up with the next cool item. I have also re-designed and renovated the restaurant several times since it first opened. Overall, I have to stay involved and keep a tight, tight eye on everything.

One may think opening and running a restaurant could be a very exciting thing, but there is clearly a huge amount of time, effort, and money involved. Therefore, be realistic and be prepared before engaging in an entrepreneurial venture such as opening a restaurant. Of course, the rewards can be great if you do it right!

By Ellen Keiley

How do I start my own business?

How do I start my own business?

I want to start my own business. Where do I begin?

“Starting a business is more than a catchy name and flashy business cards. They really need to do their homework to educate themselves on all the other spokes involved,” said Renee Hode of Central Piedmont Community College’s Institute for Entrepreneurship and Small Business Center.

Here are Hode’s tips for getting started:

Begin by interviewing yourself. Ask yourself tough questions: Do you have the traits of an entrepreneur? Do you have the characteristics to help you succeed? And does the business opportunity meet both your personal and professional goals?


That last question is often overlooked, Hode said, but it’s essential to think about what’s important to you in everyday life. “Some individuals will come in and want to start that auto shop, or start that salon, but they might have a different lifestyle in mind,” she said.

For instance: “ ‘I’m a parent, I have three children, I want to be home on the weekends.’… Do those things align well with the business you want to start?”


Do your research. Generally speaking, most businesses will fail within the first three years, Hode said. So research and planning is critical to the viability of your business long term.

Among the areas to study: Is there a need for your service? Will your business provide a solution to a problem? Or what are you doing differently that will give you a competitive advantage over businesses providing a similar service? Make sure your idea is feasible and unique to the marketplace.


Know what you know – and what you don’t. Say you want to start a restaurant. Do you have experience in the industry? If not, your first step is to educate yourself in the trade in order to be successful. And that might mean taking on a job in the industry, Hode said.

“It’s a great opportunity for them to ... be there day-to-day to see what are all the things that occur” – from back-of-the-house duties, to the kitchen, to busing tables, to working the front of the house.


Also, be aware of the financial, accounting and legal matters involved in running a business – from doing payroll to picking the best business structure. Take classes or seminars, or look for people with these skills to include on your team.


Write a business plan: You need to show investors or banks you have a strategy if you want them to help fund your business. A business plan helps with that, by detailing your costs from startup to opening day for your business to daily operations, Hode said. A business plan is also a road map to keep you on course with the mission of your business.


Finally, pay attention to how you feel throughout the process. Some people keep that passion for what they want to do and have the tenacity to go through all the steps, Hode said.

But “if you’re having a hard time dedicating yourself to putting together the plan, you’re probably going to face a lot more challenges along the way in running and operating the business,” she said.


“We have a lot of great ideas. Everyone does,” Hode said. “It’s being able to live up to that charge, to take that idea, to execute it and turn it into your dream, your passion, your profitability.”

Starting Your Own Business - An Alternative To The Job Search

Starting Your Own Business - An Alternative To The Job Search

(NAPSI)—While being laid off or “downsized” can be a traumatic time for anyone, especially in a tight job market, it could also be an opportunity to change your career direction. One popular alternative is to start your own business. After all, how many of us dream of “being our own boss” and controlling our own destiny? But is starting your own business right for you?

There are four key questions you will need to ask yourself before making the transition from worker to entrepreneur:

• What sets you apart? According to CNN, there are nearly 6 million small businesses in the U.S. What skills are you able to perform, or what products are you able to produce that will set you apart and make you better than the rest? It is vital that you do your research to see how saturated this particular segment of the market is.

• What skills are you lacking? When you start your own business, you become responsible for every aspect. Do you know how to write a business plan, analyze profit margins and set prices? Do you know the regulations governing your industry? What tax implications do you need to understand? Does your industry require particular certifications? You may need to consider additional education, whether it be a certificate or a full academic degree. Speak with other small-business owners; ask them if there is education they wish they had pursued before starting out.

• How are you going to pay for this? Consider all your expenses. Will you operate your business out of your home or will you need a physical office space? Will you be a sole proprietor or hiring contractors and employees? What types of insurance and precautionary measures are necessary? It is crucial to keep in mind the amount of time it takes to build a customer base; it is likely that you will be operating at a loss for the first couple years. Do you plan on taking out a loan or seeking investors? Also, consider the amount of risk involved-is there another steady income in your household or is this business the sole income?

• Where can you seek help? Many small businesses thrive by helping each other out. If you are not willing to get out there and talk up your business, entrepreneurship is probably not for you. Work with your local chamber of commerce and small-business administration; they provide resources for promoting your business and networking and serve as excellent resources for the inevitable bevy of questions you will have along the way.

8 Mistakes to Avoid When Starting a Business From Home

8 Mistakes to Avoid When Starting a Business From Home

Launching a business from home can provide tremendous flexibility and the kind of work-life balancethat we all crave. But the reality is that home businesses bring their own set of challenges, says Caroline Daniels, lecturer for entrepreneurship and technology at Babson College in Wellesley, Mass. For example, "doing your business on your own from home can get stale. It's hard to keep feeding the imagination all on your own."

Here are eight mistakes to avoid when starting a business from home:

1. Spending Too Much Time at Home: Loneliness is the number one complaint from people who work at home, says Anne Alexander, a small-business coach in Brevard, N.C. "Many people are not prepared for the isolated working environment." While it may seem easier to do everything virtually, that isn't the best approach. Instead, take time away from your home office for face-to-face meetings that will help build your business. Plan lunch dates, attend networking groups or work from coffee shops to build a social element into your day, Alexander says
2. Keeping a 24-7 Work Schedule: When Leon Oks co-founded iCanvasART, an online seller of custom canvases, he and several employees spent day and night working from his dining room. It's a recipe for burnout. "You're feeling guilty that you're not working, and there's no disconnect," Oks says. Eventually, he asked employees to leave by 6 p.m. and made sure to schedule free time into his day. But this year, he moved his Niles, Ill.-based company to an office space because the growing business was becoming difficult to manage at home.
3. Allowing Interruptions: Without a boss breathing down your neck, it's easy to take a phone call or two from family and friends. But when you're constantly in "interrupt mode," it hurts your business focus, Daniels says. To combat disruptions, she recommends setting aside blocks of quiet time throughout the day when you don't allow phone calls or email alerts. You also need to be careful about getting pulled too often into distracting chores like laundry or childcare. Remind family members and babysitters of your work hours and explain you'll be answering only urgent requests.
4. Depending Too Much on Loved Ones: Without coworkers around, you can easily fall into a habit of talking out your business problems with your spouse or friends. But loved ones may get weary of talking about your business. What's more, they may not provide the best advice because they don't always understand your business, Alexander says. So, try to connect with others in your field to develop an informal network of advisors. "Build a mastermind group of others with home-based businesses," Alexander suggests.
5. Failing to Create a Separate Work Area: Even if you don't live in a huge home, set aside a space reserved almost entirely for work. Opt for a little-used room or even an empty corner of your living area to create a physical divide between work and home. If you must work in a common area of the house like the dining room or kitchen, put away personal objects to set a professional tone for the day, Daniels says. "Even if you don't have a separate space, you can create it."
6. Letting Employees Abuse Your Home: You risk damage to your home if you don't establish rules for how employees should behave there. For example, Oks got stressed out over how his workers would eat lunch in his living room, walk on his light-colored carpet with their shoes on, and tack notes onto the walls. Instead of scolding employees later, it's better to set expectations from the get go, Oks says. "Set up rules you're comfortable with." Oks began asking employees to take off their shoes and clean off their workspace at the end of the day so he could use his dining room table each evening.
7. Getting too Busy to Stay Organized: As work piles up, it's easy to let organization slide, says Tata Harper, who started an eponymous skincare line at her home in Shoreham, Vt. "It is easy to succumb to disorganization when you are working in the same place that you live since it is a private space that you don't often share with" coworkers or other visitors, she says. Harper files papers away before they pile up and stores only business-related items there. In addition, she finds that decorating and brightly lighting her office motivates her to keep it clean.
8. Starting the Day Without a Plan: "Without conscious decisions about how to spend your time, your day can slip away without much to show for it," says Elaine Quinn, Chicago-based author of There's No Place Like Working From Home (Calloran Publishing, July 2011). Instead, give time to both short-term actions and long-term goals so you run your business in a more balanced manner. Create a schedule and stick to it. "Rather than making to-do lists, enter tasks directly into your [daily] planner," which allows you to set a specific deadline for completing each task, Quinn says. Also, make sure you leave unscheduled time in the day to deal with important but unexpected issues that crop up.

BY ALINA DIZIK 

5 Ways to Cope With Working From Home

5 Ways to Cope With Working From Home

With millions of people still unable to make it to their offices in the aftermath of Hurricane Sandy, many entrepreneurs are likely spending this week working from home. While working from home is a reality for many, it can be a difficult adjustment for those who are used to the collaborative environment of an office. Toronto-based psychologist Amanda Beaman, who specializes in anxiety disorders, says natural disasters and events that are out of our control tend to heighten uncertainty, causing us to feel anxious and can negatively affect our productivity.

Use these tips to ensure your workday at home remains productive:

1. Be conscious of unproductive worry. During times of stress, you may find yourself forecasting into the future and worrying about hypothetical situations. Beaman says focusing on "what if" situations is unproductive worry. "It’s unproductive because there’s no real problem yet that can actually be solved," she says.

Be conscious of your thoughts and focus only on the concerns that are within your control. "When you notice yourself engaging in that pattern of thinking where it’s really unproductive, say to yourself: 'this is not a problem I can solve right now, so I’m going to delay thinking about this for now and return to what I was doing',"says Beaman.

2. Make a plan. "Human beings respond well to structure," says Beaman, who argues most anxiety issues are caused by interruptions in routines. Making a plan for your day can help you to regain structure. "Break up your day into small chunks and set some specific goals for yourself," says Beaman.

Goals not only help to provide structure to your day, they also help assess your accomplishments. Take care when setting your goals that they’re attainable, especially if you’re dealing with technology shortages. "Recognize that you may not be able to accomplish what you normally would when you’re in your office," says Beaman, and set realistic goals accordingly.

3. Reward yourself. "Having things to look forward to at various points of the day can be helpful [in combating feelings of uncertainty]," says Beaman. Schedule rewards into your day. Whether that means enjoying a cup of tea or watching a television program you normally don’t get to watch during the workday, these rewards can help you feel calm about the situation.

4. Communicate with your family. Working from home changes the family dynamic, especially if children are home from school. Create a plan for your family and discuss it together at the beginning of the day. "Be assertive enough to communicate what your needs are," says Beaman. Plan how you can get your quiet work time and offer kids rewards for being good participants.

Offering a pizza night or a family game night if kids play quietly, allowing mom and dad to work, not only gives them something to look forward to but can help calm their own anxiety about the situation.

5. Fight feelings of isolation through relaxation techniques. In addition to the change in your routine, you may also be feeling cooped up and anxious about not being able to leave your home. Make use of relaxation and meditation techniques such as yoga and deep breathing exercises to calm your nerves during times of heightened insecurity.

BY LISA EVANS

Entrepreneurs Need New Growth Models To Scale Up

Entrepreneurs Need New Growth Models To Scale Up

Startups are usually so focused on selling more of their branded product or service to their own customer base (organic growth) that they don’t consider the more indirect methods (non-organic growth) of increasing revenue and market share. Non-organic growth would include OEM relationships, finding strategic partners, “coopetition,” as well as acquisitions.

This initial focus is usually driven by limited financial and people resources, as well as the bandwidth of the executive team. Yet a creative and skilled team will often find that non-organic growth techniques can better leverage these limited resources.

An example of a startup which used non-organic growth early and effectively was Microsoft. Bill Gates started producing software solutions, like his Basic Interpreter and MS DOS, but quickly focused on adding thousands of small partners for applications, and major partners like IBM and other hardware manufacturers. Even mergers and acquisitions (M&A) came early.

Some people feel that organic growth is “better” because it requires real innovation and sustained effort to create long-term competitive advantage through differentiation and efficiency. They might agree that it cannot compensate for the speed and scale of growth of the non-organic approach, but has lower risks of failure.

Despite the risks, there are many advantages of non-organic growth, even in startup environments:

• New product or service lines. Organic growth assumes innovation in the product or service, but non-organic growth through white labeling and strategic partners may add totally new brands and services to your revenue stream.
• Fresh customer base. Teaming with another company, or buying another company, can add new geographical locations and new customer segments to the business. These relationships need not require cash investments; often they are done with exchanges of equity or assets.
• Economies of scale. In many cases business opportunities with competitors (coopetition) will open up a new marketing channel, and definitely give you the cost advantages of scale. Economies of scale also apply to marketing, distribution, and sales.
• New management skills. New business relationships mean new perspectives and new executives working on the opportunity. This can be a significant competitive advantage over major competitors, and overall reduces competition in the market place.

I’m certainly not proposing that one mode should be used to the exclusion of the other. Rather, I recommend that you pursue both concurrently, per the advantages of each. For example, if you are in an industry which is fragmented or has a slowing growth rate, with too many competitors, non-organic growth may be required for survival.

Use organic growth options for things which you do best, where there is plenty of room for growth by selling your products in new geographic areas, or using new sales channels, such as through a wholesaler or website. Organic growth is typically safer because you’re using a tried-and-tested business model, and you can reinvest profits back into the business.

Certainly non-organic growth has its pitfalls. Entrepreneurs, while partnering with or acquiring a new business, must check for compatibility and strategic fit. Yet startups looking for investors need to evaluate all the growth alternatives from the very beginning. “No growth” or even slow-growth companies waiting for an Angel may have a long wait.

Marty Zwilling