Proper timing on eBay maximizes your bids

Proper timing of a listing is very important to profit from your e-bay bidding.

 

Why?

 

Sellers spend lot of time preparing their listings with correct key words and proper descriptions. Most of them do not understand that they need to consider about timing and traffic flow. EBay traffic is not continues as expected. It differs from time to time, day by day and also by season to season. If you list your items for auction, and if the auction closes before a peak visitor time, you are not going to profit as you expected.

 

Understand when to list.

 

Items listed for seven days on a Friday, will close on next Friday closing time. Your items listed on Monday for three days, will close on Thursday.

 

List your Auction to end during a peak time or in a more constructive time. You are likely to get more visitors if your listing time is lengthier. Most eBay visitors search several times a weak. They do not buy at one go, instead they bid at the last moment of the auction ending time. Most bids are placed during the last thirty minutes. Your listing will also appear under “closing soon” section so you are likely to get more bids.

 

Peak time daily, is between 8.00PM and 10.00PM.  Speaking of peak visitor time weakly is during Saturday and Sunday. Most buyers by during Sundays between the times mentioned above.

 

Listing your item on Saturday to end on Sunday between 8.00PM and 10.00PM will reduce your long listing fee.

 

Why 8.00PM and 10.00PM?

 

According to research, most visitors from Eastern Time frame, brows auction sites during 8.00PM and if considering Pacific Time, it will be during 10.00PM. So if you list geographically, this will help you to decide the ending of your auction time.

 

 

                                  

Catalogue interoperability

This post relates to my previous post about “why you should have a catalogue”. 

 

Supplier Hubs is a supplier managed hosted catalogue interoperability service. They aggregate mass data from supplier catalogues, clean and decode those data into standard of other catalogues. After decoding, resellers can access supplier catalogues in a standard format.

 

Some resellers have complicated procurement systems that can access supplier data. Catalogue item master file will be automatically picked up and data will be arranged according to the reseller’s system instantly.

 

As a supplier, you can host your own catalogue and let your buyers access it online. This can also be automated.

 

 

 

 

Why should you have a catalogue?

A supplier’s catalogue is the central location for numerous other business activities inside an establishment. If you are a business selling computer accessories, without a catalogue it will be impossible to operate. Data of all the accessories and stocks you have is in the catalogue. You also need a catalogue to access the list of suppliers and their prices.

 

The problem of catalogues

If your business is a small supplier, creating and selling a specific variety of products in which you have specialised and take pride of, and you have two main customers who buy from you in bulk. They are your biggest customers. Your business relies on their buying your products.

 

Your biggest customer decides to put into practice, an electronic trading system. They send a letter to all of their suppliers, telling that, within a given time frame, all of their suppliers must be system compatible with their new proven practise. That means, you must provide your catalogue data in accordance with the customers given format.

 

You are now afraid of loosing your largest customer; and you invest several thousands of your capital designing an e-catalogue that complies with the customer. You still communicate with the other customer via fax and phone.

 

Meanwhile the second customer decides to create a new e-buying plan and you will be informed that they too will be requiring you to create your e-catalogue compatible to their system. Their system is different and cannot comply with the system you have with the first one. Now you are shattered and will have to make a very difficult choice. 

   

If you say no, you will loose an important percentage of your sales. You are not able to say ‘yes’ either. Now you will have to invest a significant portion of your capital to make a catalogue matching to the second buyer.

 

Sometimes they will again require you to keep an additional list of your product records on their own systems through a hosted solution. This is not possible, with you constantly updating and re – keying your product details. It will be a nightmare and lot of errors are bound to happen.

 

So for this, comes a solution. ‘Catalogues must be able to interoperate’.

 

 

 

 

Answers to Success

In one of my previous articles, I asked three questions.

• What is the most important time?
• Who is the most important person?
• What is the most important thing to do?

I would like to thank Surjit, Andrew , Asis, Himarticles, and Mbhave who took the trouble to answer my questions. These questions play an important role in real life. And answers to them are secrets of success. Many people have answered in many different ways to these questions. You may criticize my answers or provide alternative suggestions. You are always welcome.
Let’s take the first question:

What is the most important time?

Almost everybody answered this question in the same way.
Now is the most important time. We cannot go back to our past. it is all said and done. We do not know what future will be, whether it will be there or not. The only time we have is now. Present moment. Do not delay to do the right thing what should be done now. It gives you, happiness, motivation and success.

Who is the most important person?

Almost everybody answered I am the most important person. Surjit said “you are the most important person”. Every time this question arise almost everybody answered I am the most important person. Well, in certain and most instants I am the most important person. The most important person is the person who is with you, right now. It may be your husband, wife, friend, business contact or any other person. Give your full attention and effort to that person. This is one success principle in nature.

What is the most important thing to do?

The most important thing to do is to care. Do everything with care. Care for what you are doing right now and care for the person who you are with. For an example if you are in a telephone conversation, care for the person who you are dealing with. A person who does something with extreme care always manages to succeed.

What is the most important?

Hi friends, I am a bit busy these days. I am trying to write at least two articles a week.
For the present, I would like to ask three questions. These questions will be important to you in your work and everyday life including business. Please write your answers in the comments area. This is not a challenge; I just want to know your answers. Please feel free to answer these questions

1) What is the most important time?
2) Who is the most important person?
3) What is the most important thing to do?

My good wishes will always be with you.

Tips to enhance your sales on eBay

There are certain criteria that will increase your popularity as a good seller. To get there it takes time and dedication. There are certain tips and tricks in the web to enhance your sales. If you follow these tips you will be able to win your customer loyalty. Customer loyalty is your key to success. These tips and tricks are as follows.

Take a good picture
A good quality picture can enhance your sales. Better the quality, better chance for a sale. Before uploading the image, take a look at it and ask yourself if I see this picture listed, will I be tempted to investigate? A good picture is one thing that will start earning the trust of your customers.

Clearly list the item
Describe the item in short sentences. Use bullet points. Do not make your bullet points into paragraphs. This will confuse the customer and draw attention away. Use bold and underlining only when necessary.

Be truthful and state the condition of the item clearly
Your customer will always trust you once satisfied. If you are selling an item that includes additional accessories, be sure to mention that. If you are selling software or related product, make sure you describe in what type of programmes it is compatible with. Always keep your tone positive and buyers will trust that their business with you will be positive.

Clearly state your terms and conditions
Always state your return policy. If your policy is no returns, put that in your return policy. Always win your customer by stating the truth. Do not hide anything. State the payment method. If your price includes the shipping cost, say no shipping cost. If you have not included the shipping cost, state that shipping cost will be added. And include a shipping cost calculator of some kind so that your customer will not get a shock when they see the final cost.

Include a currency calculator
A currency calculator is very helpful to calculate the actual amount a customer will be spending on his or her currency. Put yourself in the customer’s shoes and sure you will be really happy and confident to do a purchase.

Include shipping details
As described above; include the shipping cost, include the carrier that you are willing to use and describe whether you wish to insure the item or not.

Be flexible on payments
Always make sure that you provide multiple options of payments like PayPal, Cheque, Money order, Credit card and any other methods at your disposal so your customers will be at ease.

Careful packaging and shipping after payment
After making a sale, you have to maintain the customer’s faith. Developed customer faith will bring you sales many times and they will introduce others to your website also. Carefully pack the item and ship it as quickly as possible to reach the customer within the days promised. If your item is broken when it reaches your customer or you fail to deliver in time. This will be a disaster. Higher a good carrier and always take care in delivering the item.

Maintain a friendly relationship with your customer
When dealing with customers, you must always make sure that you send polite e-mails and your communication with the customer is maintained in a friendly manner. Buyers that have good buying experience will leave a positive feedback. Buyers who have had poor buying experience with you will leave a negative feedback and they will never buy from you. So be careful and always maintain a friendly relationship with your customers.

Investing your profits

As a business owner you know that it is essential to analyze your profit and loss statement for the month or year. Your accounting records will show your purchases, sales and other expenses.

Now you have to decide what you should do with your profits. First make a budget for the next month or year, you can roughly figure this out if you follow your previous accounting statements. A budget is just an indication how your expenses are going to be in future. Actual values might show a little difference, because you are preparing your budget based on assumptions.

Allocate the amount you will need to cover the budgeted expenses. It is always wise to allocate a little more than budgeted. Allocate some money to pay your bills and your personal use. The amount left is the money you should use to invest in order to improve your funds in future. It is better to make your funds grow than letting it stagnate in the bank. Why not invest in shares? When advising you to invest in shares, I am not telling that every person should do this. You must have enough funds and must be able to handle a loss in a crisis. Shares can be a risky investment some times. So please do not invest all your profits in shares. To be in the safe side deposit some in a bank.

There are several methods of investing money; usually people use bonds, securities and shares. Bonds and securities give a low return but they are safer. Shares give a quick return and easy to handle. But the risk is higher than other options. Let’s see how you can invest your profits.

You can find a broker to manage your funds. They will advice you on what stock you should invest. They are experienced and will always choose the safest options. But they can also make mistakes. Share value of a company can change due to Movement of the stock market, Political issues, Taxes and many more reasons. Some factors you cannot change.

Other method is, use your bank’s discount broker and do your investing yourself. Every bank has its discount broker. They also have their advisers if you wish to get advice. But you will have to pay them for it. You should do this only if you have a good knowledge of financial indicators and ability to assume a company’s growth. You have to be very vigilant. Read financial news every day, and keep a close look at stock movements. Before you invest in shares or other investments, be aware of the financial risk involved and make sure that you are able to accept that risk. Share prices can rise or fall rapidly.

The benefit of doing your investment yourself is, you do not have to pay a broker and your brokerage fee is saved. You only have to pay the transaction fee taken by the discount broker for doing your transaction. A discount broker is always quick to process your order while a financial broker will take a bit longer. If you hire a financial broker, you will have to pay brokerage fees and other fees that apply on investing. But, again safety must be considered first. You will have your own option of investing in this way. If you want a short term good return, you can opt for it and invest in a particular industry and if you have a long term goal, you can invest in a stable slow growing company. You always have your own choice of investment using this method.

How can you invest money yourself? I do not want to make this article longer. I will be here soon with the “How can you invest money yourself?” Meanwhile I wish you all the best.

How to attract clients by speech

I have been writing about networking and link building a lot. This time I am writing a different kind of business article about how to attract a client by art of speech.

When you go to a business meeting, the first time you enter there you might feel a bit nervous. This might be a big opportunity to build a relationship and a secure future. You might be meeting business contacts everyday. and through telephone, you might be doing this every day, but can you do it better? What are the tricks to preparing for them, starting them and keeping them going?

Smile first
It is important how long you hold it. When you meet someone have a smile on your face and make sure the other person understands that it is for him or her. Do not let the smile disappear as soon as you start speaking with the person. Let it linger for a while and with the topic, leave the smile where it is.

Eye contact
Eye contact is very important. First thing is look in the eyes. There are two main options in eye contact.

Wandering eyes: If your eyes around the room when you are engaged in conversation, it will appear rude. It is appropriate only if you are being harassed by the other party and you want to disengage from the discussion.
Sticky eyes: This is where you maintain constant eye contact with the person and resist the urge to look away. If you do have to book away, then break the contact reluctantly and deliberately. This will give a sense of importance to the other party.

Stop fidgeting
When you are meeting someone for the first time, do not start rubbing and scratching. Keep your hands together and interlock your fingers so they don’t start to play with jewelry or anything else. The less you fidget the more confident you look and you generate more respect and authority.

Be well presented
You have to be decently dressed and well presented according to the place or person you are meeting. Do not wear things that will draw unnecessary attention to your self and scare off everyone in the room.

Likely questions to be asked

Where are you from?” this is a very likely to be asked question. Prepare an answer. You can either state a one word response that accurately describe your locale and hope the conversation moves on, or you can add an interesting comment that might sustain the conversation. Always try to sustain conversation.

“What do I do?” we know that some one will ask this question, and we are also bound to ask the same question from the other person. Be prepared for this. Give your answer some thought. Do not overdo the description. Remember that you are not trying to make your job more than it is; we are trying to find something interesting about it.

What do you do?” now it is your time to ask the question. This sometimes will cause a difficulty for the other person, especially if they feel their job is not interesting or if they are between jobs. You should always ask a question, “How do you spend most of your time?” This will take a lot of risk out of the answer and allow the other person more flexibility with their response.

Keeps the conversation going

People are always interested in themselves, so if you want to be good at conversation, you need to know how to get them talk about themselves.

When the other person is talking or answering another question, be on the alert for their words of interest. This is a great clue as to what they are really interested in. for example if you were to state, “We had awful weather over the weekend” and the other person replied “ Yes, it was so bad I had to cancel my regular bicycle ride”, you should now start asking questions about their bicycle ride. Always be listening for ‘word pick’.

If you are struggling in a conversation, repeat the last words that the other person has spoken. If someone says to you “Last weak end I went to see a game of cricket”, then you should say “Cricket?” then the words will come to your mind to say some thing about cricket. This way you can keep people engrossed in their own topics. But do not parrot everything.

The best method to maintain a conversation is the use of questions. It is important to ask the right questions. There are two types of questions.
Open questions, where there is a space for a sentence to begin.
Closed questions, where you end with a short yes, or no answer.
Use open questions to keep the conversation going. And use closed question to verify facts and major points.
You will often find situations that where it is up to you to continue the conversation and these are golden opportunities for you and your business. Try these and s

Are you a good manager?

If you are a business owner or manager with people working under you, how would you handle crisis. You have to know and understand your employees. A good manager always recognizes hard working employees. Remember to drop an encouraging word to them. You never know the positive effect it will have on your employee. Positive management practice is always worth than the negative management practices.

There is bound to be disagreement between employees. Some are really trouble makers. Some are happy with their job and bend in any direction suitable to them. There are lots of different people to handle. During some management training courses, they really teach managers to meditate because meditation helps to be positive minded, non judgmental, analytical and not to be angry (anger management).

If somebody is causing trouble in the workplace, just do not judge that person at that instant. Try to understand the root of the problem and then decide the best solution. Identifying problems at their very start is a real skillful management tactic. It is lot better to understand the problem and solve it at the beginning stage than before going too far.

A skillful manager never takes either praise or criticism to hart. Look at things without attaching your self to praise or criticism. Always observe your employees behavior and try to understand them. If somebody needs a word of praise, just give it to him. A good manager is always able to give a positive feedback of an employee who is really good at work even if the person is able to do the work better than you. If you go to compare your ability with another person’s ability, you cannot become a successful manager, because you never will give a chance to a person who has more skill than you. Some people are like that even if they are the owners of the business. The result is them loosing a valuable employee.

In times of a problem, or if you think you need to give advice to an employee, never use aggressive methods. First try to find out his problem, advice the employee in a very nice manner while praising him for some work he has done. Always look at your employees in a positive manner without attaching yourself to any of them. Attaching means both positive and negative attachments. This way you will be able to look at your employees as an outsider. An outsider is bound to see things clearly.

Encourage refreshing activities like having a special day for enjoying. Send your employees to refresher courses. Your employees will like you more. And they are bound to work harder. Every kind word you speak will have a positive impact on employees and will positively affect the company and also every negative or bad word spoken will have a negative effect on the company.

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Planning your business

Have you ever thought of having your own business? No doubt you already have. First time this thought came in to my mind, I was confused. I wanted to start my own business venture, but how? When? Where? Those were the questions that came in to my mind. You may have experienced the same situation. Never panic. Your thought is well worth working upon and might be a blue print in your success. What would be better than having your own business? One of the best things you’ll ever do is turning your business dream into reality.

 

First and foremost thing to remember is, never take a quick decision. Think before you leap. This is the main reason most small businesses fail. You need to have a proper plan and sort yourself out. Ask yourself, why do you want to start your own business?

 

You may want to achieve financial independence
Have freedom
Enjoy doing what you like
Don’t like working for others
Want to make a career change
Want to be recognized
Need flexibility
You do have a product or service for which you feel there is a demand.

 

It can be any of the above. First of all, better write them down. Do you have any talent or things you’d enjoy doing most? Are you a well organized person? Are you the kind of person who can put a good initial effort in starting a venture and continue it. Can you manage time? Make a list of your personal strengths and weaknesses. Most successful business owners are hard working and motivated. You need to be well aware of your skills and abilities. Your idea of being in business must be based on reality, not fantasy. Otherwise you are not likely to run an efficient business. Success in business needs more than just opportunity or skills.

 

Choose the business that suits you best, after considering the time you can allocate to your business. You have to have a can do attitude. The most important thing is the way you approach your life as well as your business. Balance you family life with your business. We have a choice to be happy or miserable. Many people do not realize such a choice is available to them. What ever you do you need more than courage, you need a combination of hard work, skill, perseverance and good old fashioned luck.

 

If you have assessed your skills and abilities on a specific product or service, it is advisable to do some research on it. The Idea you have in mind, was it successful before? Question successful people and get information and also find out how much time and effort you have to contribute for the business.

 

Find out the possible market for your product or service. What is your target market? What is your minimum startup cost? Can you afford it? This is very important. Asses your financial situations before you start. This will help you to prevent possible bankruptcy.

 

You might face difficulties in getting your product in to market and doing sales because of similar products. It is worth doing some research on your possible competitors. What is unique with them? Can you do a better and attractive marketing campaign?

 

Think about the location. Location is very important to minimize competition. If you are planning on a restaurant selling Indian food, you will have to search where those businesses are located and then you will have to look for an area safer and exposed to crowds who are interested in buying Indian food. It is better to have a big shopping center nearby than a little market place in a suburb. 

 

Do not keep things only to yourself. Share your idea with your family and get their support. That is more important than anything. Develop a business plan to suite your needs. Discuss with a qualified business adviser. You will have to incur marketing and other costs. If you need financial assistance you have to have your business plan ready. Financial institutions will asses your business idea and if they think it will work they will be happy to lend you money.

 

You must register a business name or a domain name. This would help you from future inconveniences. Find out whether any license and requirements are needed for this business. For some types of business, you may need a license or permit. Asses your start up costs and estimated income and operating costs at least for one year. Consider how any shortfall will be funded.

 

If you are employing staff get advice about awards and minimum conditions of employment including occupational health and safety.

 

Consult your financial adviser. Good financial management is critical to the ongoing success of your business. Your costing and pricing should be accurate. Know your breakeven point. Be vigilant in sales and cash flow forecasts. Remember to keep your records up to date this is really important.

 

Make sure you to insure your business and use the latest technology as possible so you do not have to bury your head on business. Enjoy your wonderful business.

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