The eBay business model is one of the greatest success stories there is. eBay used the simple concept of just bringing together buyers and sellers on a one-to-one basis in a worldwide marketplace to form a trading community. A successful model? Absolutely. It started in 1995 under the name AuctionWeb in California and was sold for billions just three years later in 1998 when it went public.
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.
Since eBay started, over $ 400 billion have been spent in transactions.
$ 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 finally, the eBay business model has changed the lives of countless individuals from all backgrounds and cultures, enabling them to live lives they would not have dared 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 involves misspellings of words. 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? Well, if the item has not been spelled correctly, it is unlikely to come up in results and therefore the number of bids will be low. 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.
How the eBay business model developed makes for a very interesting read. Beyond satisfying your curiosity however, you may want to examine it further with a view to establishing a second income stream for yourself. It is good to have a financial plan with ways and means of adding more income streams in view of the uncertainty of the times on the global economic front. The eBay business model may just be the opportunity you are looking for.
Copyright (c) 2009 Michael A Jones
Huge incomes are made every day on eBay by ordinary men and women. Click here to read some success stories and the roadmap that can lead you to an eBay fortune: