Recently, Entrepreneur Magazine interviewed people who were not only doing business on the web via eBay, but have become millionaires in the process. So what sets them apart from countless others? Perhaps their secret lies in the following statements:
· “I do whatever it makes to make my customers happy.” – Sells jewelry and sometimes starts auctions at .99 cents.
· “I push my business forward on a daily basis. To a large extent (in my mind) there is no finish line.” – Sells refurbished computer disk drives.
· “You have to perform quantitative and qualitative reasoning to determine what you sell.” – Sells men's fashions at 40% to 80% below retail.
· “We see everyone as our potential client, from a grandma on the street to Nordstrom.” – They run an eBay drop off store.
· “Our biggest motivator is providing our customers with good service.” –They sell audio and stereo equipment on the web.
· “Find a niche, something that you have knowledge and passion for. And, find good help. You cannot do everything yourself.” –Sells toy trains.
· “A lot of the rules of the stock market apply (to selling on the web) – Don’t flood the market and don’t show your hand.” – Sells accessories for cell phones and digital cameras.
· “We’re in the business of saving our customers time and trouble.” – Own an eBay consignment store.
· “The key to success is finding items that sell and sell often. If you have 10,000 items listed and they don’t sell, you’re losing money.” -- Sells iPod accessories.
Keep in mind that these are self-made millionaires with an average age of 25 years! What I keep hearing in their insights and in what other successful entrepreneurs often reveal are two things:
1. Have the attitude that you will go out of your way to please each and every customer.
2. Do your homework. Success that happens by accident usually does not last. You must have a why before a when, where, and how.
Every business transaction, from a kid selling lemonade on a neighborhood street corner to selling diamonds on the web to selling time on your station has one thing in common: Your customer will either be happy and possibly tell others or unhappy and almost certainly tell others.
There in lies the secret of millionaires.
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