Let eBay choose for you

It is best to just type in what the item is and let eBay choose for you. Next, write a title and description. Include key words you think people will search for in the title box, and all the information you have about the item in the description box. Now set a starting price. $0.01 is the best starting price, as it draws people in to bid who otherwise would not, and items will almost never finish at such a low price.

The next thing to set is the duration of the auction: 3, 5, 7 or 10 days. Longer sales will usually get more bids but will also seem to drag on forever. If you have taken a picture, add it now. Items with pictures always sell for more.

Finally, tick the payment methods you will accept, and where you will post your item to. Submit and you are done. Wait for it to sell. This is just a matter of sitting back and letting eBay do its thing. Buyers will find your item and leave bids on it.

Some bidders might email you with questions about the item, and you should do your best to answer these questions as quickly as you can. If your item does not sell, then you can list it again for free. Collect payment and post it.

eBay will send your buyer emails guiding them through the process of sending you payment for the item. Make sure you have the money before you send anything. Once you have got the payment, all you need to do is pack the item for posting, take the buyer's address from the confirmation email eBay sent you, and write it on the parcel.

Put some stamps on, post it, and you are done. Identify your market. Take a while to sit and watch for what sells and what does not out of the items you are interested in. Any market research data you can collect will be very useful to you later.

You will probably see the sweet spots quite quickly, those one or two items that always seem to sell for a good price. Watch the competition. Before you invest any money, see what the other sellers in your category are up to, and what their strategies are.

Pay special attention to any flaws their auctions might have, because this is where you can move in and beat them at their own game. Find a product. Get hold of a supplier for whatever it is you want to sell and see what the best rates you can get are.

Do not be afraid to ring round quite a few to get the best deal. If the eBay prices you have seen are higher than the suppliers, then you are set. Start small. Do not throw thousands at your idea straight away.

Get started slowly, see what works and what does not, and learn as you go. Remember that it is very cheap to try out even the craziest ideas on eBay, and who knows, they might just work. Test and repeat. Keep trying different strategies until you find something that works, and then do not be ashamed to keep doing it, again and again.

The chances are that you have just found a good niche. Work out a business plan. A business plan does not need to be anything formal, just a few pages that outline the market opportunity you have spotted, your strategy, strengths, and weaknesses of the plan and a brief budget.

This is more for you than it is for anyone else. Invest and expand.