2012 has arrived! This year, you should strive to run your business lean and mean. Saving money is not difficult if you focus on a few key areas.
Wrap it up
First of all, identify the businesses in your town that can provide you with a steady stream of free packaging material. Recently, I was introduced to the owner of a local furniture store who was looking for a way to recycle his extra packing peanuts and boxes. He now calls us at least once a week to let us know he has packaging material ready for us to pick up.
Last year we spent quite a bit of money purchasing bubble wrap and other supplies. This year, our costs will be much lower.
Do you need a gas-guzzling SUV, just because you sell on eBay? How about adding a cargo box to your compact car, instead?Get more for your money
Another way to save money is to sign up for the PayPal debit card. This will allow you to spend the money in your PayPal account with ease. Plus, if you swipe the card as credit, you get 1 percent cash back. I get around $35 back each month by taking advantage of this program.
In addition, think about the car you’re driving. Do you need a gas-guzzling SUV, just because you sell on eBay? How about adding a cargo box to your compact car, instead?
I drive a Ford Focus, and I’m glad I do! I put a lot of miles on my car driving around town for business. I try not to sell large items since they take up a great deal of space and are hard to ship, so owning a compact car is not a problem for me. I also own an older SUV that’s in great shape—just in case I need more cargo space—but it tends to stay parked in the driveway.
Thrifty habits
If you source products at thrift shops, another way to save money is to let your fingers do the walking! Set up your phone so that all of the thrift shops in your area are in your contacts. Call every store, every day, and focus on visiting the stores having sales. All of my thrift store contacts start with the word “thrift” so that they’re organized under the letter T, for ease of use.
You might also want to make thrift shopping a family affair. If the stores in your area have a senior discount day and you’re not a senior, bring mom or dad along for the ride! I did this recently and saved 15 percent on my entire purchase. That’s a lot when you’re buying $200 worth of shoes!
I can no longer afford not to be a Top-rated seller, and neither can you.Earn the badge
If you’re a PowerSeller, strive to maintain Top-rated seller status. Like it or not, there are huge advantages to being a TRS:
- Top-rated sellers are able to take advantage of the substantial shipping discount eBay is currently offering people in this program. Sellers who maintain TRS status and use eBay shipping labels receive a discount of up to 32 percent. That’s huge!
- Top-rated sellers also get a boost in Best Match. I’ve had a hard time maintaining my TRS status, but when I do qualify for the program I always see an increase in sales.
- Finally, people look for the TRS badge. Last year my mom wanted to purchase a leather jacket for my dad. As she scanned the listings, she clicked on those with the “good seller” badge. Yup, it matters.
I can no longer afford not to be a Top-rated seller, and neither can you.
Jump on the ‘free’ train
In order to reach Top-rated seller status, I recommend you offer free shipping. Here’s why: I’ve had a difficult time maintaining my TRS status due to low DSRs in shipping. I’m on the West Coast and I sell shoes. People don’t understand how much it costs to send a package.
In 2012, all of my new listings will come with free shipping. But that doesn’t mean I’m absorbing the shipping cost. “Free shipping” means that I’ve rolled the cost of shipping into the price of the product.
The positive feedback comments have already started rolling in and my sales are still strong.
I’m very excited about the new year and I think you should be, too! Taking these cost-cutting measures will keep your business lean and mean in 2012.
