063: The Secret Sauce for Q4 and Q1 – Kathy Terrill

Kathy Terrill is no stranger to the acting world, the entrepreneur world or the eBay world. She has won awards too many to count. She can be found online everyday in her Facebook group, “eBay Stores, Nothing But eBay Stores” where she and the members work to help other businesses grow and prosper. She can also be found on her blog, “I Love To Be Selling”.com

Interesting Notes

  • Kathy has recently launched Secret Sauce for eBay Sellers, a class with a lot of tips for eBay sellers, either with or without a store, to help sellers have the best Q4 ever.
  • Her class has information material that is good for a beginner, intermediate or advance sellers. It’s 15 minutes long; meaty from beginning to end, with sales topics that she has tried out and knows that it works.
  • Her tips and tricks for a prosperous Q4 and preparation for 2016 Q1 are: 1. As sellers, you need to take notes using an app like Evernote, Google Calendar, or simply pen and paper. You need to take your own notes on what is selling and hot for you and what is not working well so that you can remember next year at this time. 2. Thrifting is great, but don't forget about retail arbitrage, which is the BUY LOW, SELL HIGH thing. 3. Always anticipate the next season. You are shopping, selling and packing now. But, you must also think about January, the time for New Year's resolution. Think about the different ways that people are going to make. It could be something about being organize or weight loss. Ask yourself, “what product can I source to help customers come?” 4. Do eBay advanced search and search what things are selling on the categories you are selling in. The other tool is Terapeak, which is a more advanced tool but is super easy. It takes only 5 minutes and tells you what is hot and what the trending items are. 5. Run very nice sales during the holidays because it brings more customers in, but you have to watch your profit margin, and don't be quick to giving stuff right away. 6. If you go and invest, maximize your dollar. You need to buy things that are going to sell pretty rapidly and have a decent margin. 7. You better do your research. Do a test first. You buy a certain amount, whatever you are comfortable with, then drop, sell, and test it. Test it first to know if it sells well before spending more money into it. 8. Think about sourcing for the next season. Right after the New Year's resolution, go straight to Valentine's Day. Think about the kind of gifts and things people would be buying for their sweethearts. Right after that, there’s Spring Break, Father's Day and Mother's Day. 9. Think on how you can re-purpose things. A gift that could be given for Christmas, with a little tweaking of the description and how you market it, can be sold for a Valentine's gift, or Mother's Day gift or wedding anniversary gift.
  • Kathy lists every day and encourages one to do it too. Listing regularly helps the search engine see regular traffic with your listings.
  • She always lists things on a variety because we are global. It's winter here, but it's summer in Australia. It's winter here, but people go on cruises on a holiday.
  • To grow your sales by 20% to 100%, Kathy advised that you must first double your inventory. Doubling or growing your inventory means you have to have the money.
  • If you've got $100, a computer or a Smartphone, and you are starting new, Kathy's recommendations are: 1. Keep it really simple. Stay focus. Don't get overwhelmed. 2. Make use of your phone. Take pictures with your phone. List with your phone. You don't need to do anything else. And as you grow and make more money, you'll do more things. 3. Do a little bit every day. If you can only do 2 to 3 listings a day, just do it. That done over time is a success. 4. Buy things that are going to sell now. 5. Buy low-class items because if you make a mistake, and you will make mistakes, you need not be out on yourself when that happens. 6. You will make mistakes. But don't beat yourself up about it. 7. Don't compare yourself with another seller. You need to do the best that you can do. 5. Hang out with people who will encourage you to be professional and not put you down in some way or be arrogant towards you or make you feel that you are least than who you are. 6. Don't put yourself down if the only best that you can do is to use your smartphone and get your listings up. As you grow, you'll learn more about keywords, how to craft a description, and learn more about social media. 7. Be professional. This means that you must show up every day, doing the best that you can. 8. Look for ways to learn how to grow your business.
  • On January, Kathy will be doing another class on ways on how to really dominate search on eBay and make listings that will really help sellers stand out on eBay.

Quotes

  • “We are all different kinds of sellers. Different things are going to speak for us. Different things will sell for us.”
  • “Everybody's business is a little bit different. So what could work for you may not work for me, because of the way you present it, or because of the shipping services you are offering.”
  • “We all have areas that we are comfortable selling at.”
  • “List it now because we are season-less and we are global.”
  • “If you can make $4 in every $1 you spent, your $100 just turned into $400.”
  • “Being professional is not about how much money you are making. It's about your attitude about your business. How you take care of your customers and how you put your listings up.”
  • “What you are is fantastic!”

Tools

  • Google Calendar
  • Terapeak

Contact Information

  • I Love To Be Selling
  • Secret Sauce for eBay Sales

Sponsors