Archive for 'Finances' Category
How to get more for your junk on eBay
25 August 2006EBay’s fees have been steadily increasing over the years, almost in perfect synchronicity with their growth in popularity. Even at the current (in my opinion) rather-high prices, there is no place better to unload your used stuff. Where else can you reach a worldwide customer base with millions of users? When trying to get the most for your item or items, I have found there are a few key things to remember:
Sell it ASAP: If you just bought the new iPod 3d Video Xbox 360 Gaming Device, don’t wait too long to sell your old iPod video. More times than I care to count I have waited a few months to sell my now-obsolete item, only to take an enormous loss. At the same time, don’t put your item up the instant a new version is announced, wait a week or so, and check what its going for.
Include competitors in the subject line: Yes, its shady, but the world of online-auctions is no place for half measures. When posting your Creative Zen Nano for sale, consider putting something like “Creative Zen Nano NOT iPod Nano” in the subject line. This way, your auction will get both searches for “Zen Nano” and “iPod Nano”. Who knows? You may get a user wishing to save a few (hundred) dollars on the iPod, and get a bid.
Include typos: When posting your Kalashnikov rifle for sale, consider including a few variations on the spelling in the subject line. “Kalishnakov”, “kalieshnakov”, not everybody can spell everything.
Take clear photographs: Yes, TAKE clear photographs. This does not mean use stock photos. Bidders want to see pictures of the item they’re actually purchasing, not what it might have looked like new. Be sure to clean the item up as best you can before taking the photo, find a good backdrop, something that keeps the focus on the item for sale. Your floral tablecloth is not a good bet. Keep it simple, white, black, or wood. Be sure to include at least 2 photographs of the item, from different angles.
Use the gallery: I think its $0.50 extra, it may actually be less. Including your item in the gallery allows bidders to see its picture in search results. I don’t have statistics to back me up, but I would bet items included in the gallery sell for at least 20-30% more than those that are not.
Post the shipping: Sellers love to jack up the price of shipping. Its an easy way to make a few extra bucks on the item post-sale. This causes bidders to be weary of bidding on items that do not have a firm (or calculated) shipping posted. Be sure to account for the price of the box you will need, and any packing materials you will be using to insure the item arrives safely.
Accept Paypal (ref): Paypal has been around for quite a while now, but it still amazes me how many eBay sellers do not accept it. Very few people want to be bothered mailing a money order or check, and having to wait an extra 7 or 8 days before receiving their item. Accepting instant payments via Paypal is a good way to attract additional bidders. Not to mention its easier for you, items can be paid for instantly, and you can have the proceeds in your checking account within 4 days.
Be honest: Most importantly, be honest. Lying about the quality or condition of your item may get you a few extra bucks on the auction, but in the long run you will pay for it. Receiving negative feedback is the surest way to reduce your chances of getting a high-bid in the future.
5 Ideas For Your Mediocre Ideas
24 August 2006Whenever I talk to somebody about a hot new product or service, especially in the computer/Web2.0 world, I invariably get the “I wish I could come up with an idea like that”. The truth is, you don’t have to. Down through history tons of companies and individuals have made billions, billions of billions, on mediocre ideas.
A few points to remember.
1) You don’t have to be the first: Just because someone else has already “stolen your idea”, doesn’t mean you shouldn’t attempt to make it work for yourself. There were hotels long before Hilton opened his. Toyota is the most profitable automobile manufacturer in the world, but they sure weren’t the first. I’m not saying you should ripoff someone else’s idea, either. You’ll never get anywhere without SOME original thought. My point is, most industries have enough room for a little competition, and even the runner-ups make a fair buck.
2) Focus on today: I find that when I have an idea, I usually throw up roadblocks that I wouldn’t have to worry about for quite a while. Case in point, I ran a web-hosting company a number of years ago. After having only started to get a few clients, I gave up, because I realized I would have to eventually get my own servers, and not just resell plans from existing companies. I knew I didn’t have enough knowledge to handle all that, but realistically, that wasn’t a problem I would have had to face anytime in the near future. By now I could have been making a good living, learn from my mistake and cross each bridge as you come to it.
3) Two mediocre ideas equals: A couple of mediocre ideas, and you can be living the good life. Look at SharperImage. There isn’t a genius idea in that catalog, not even a great one. Those scooters? They’re just rollerblades with handles. And have you seen that stupid Ionic Breeze thing? How about the commercial with the owner who can’t even read the teleprompter properly. You don’t have to have a genius, oh-my-God, world-beating idea to make the big bucks, you just have to have several mediocre ones.
4) Calculate the risk: If you have nothing to lose but your time, why not give it a shot? Be weary of investing too much seed money, however, as more often than not a company that is not profitable in the first fiscal year, will not be profitable at all. I’m not saying there aren’t exceptions, but the odds of success definitely decrease the longer you are in the red.
5) Don’t be afraid to ask: That’s the best part about not having a great idea, you don’t have to worry about anybody stealing it from you when you tell them about it. So, don’t be afraid to ask your friends or family, even Google to see if there are any message boards or forums on the subject. Ask around, someone might have a bit of insight on the subject that would help you make an informed decision.
And, of course, feel free to e-mail me any mediocre ideas you may have, so that I might profit from them, at mediocre@leahey.org.
Did my post help you? Buy me a coffee?Part 2 of How I saved (and you can save) hundreds per month
23 August 2006If you haven’t already, I recommend first reading Part 1.
In this chapter, part, section, whatever you want to call it, I’m going to cover an often-overlooked money saving tip. Staying healthy.
Healthcare is not cheap. A quick trip to the hospital, or a few diagnostic tests can push you over the four-digit mark real quick, especially if you have limited insurance. There are many reasons to stay healthy, most of which are much more important than saving a few bucks per month. For this entry, however, I will try to stay on topic.
Watch your weight: Eating healthy can be more expensive than eating junk, however, in the long run you will be saving. Be careful not to overindulge, even in health food. There have been several reports indicating a caloric deficit is the secret to longevity. I don’t know about that, but its definitely cheaper.
If you live in the city, consider walking to work and the stores. If its too far to walk, try biking. If you live in an area where everything is a distance from your house, park at the far end of the parking lot and walk to the store.
Reduce the sugar: This really could be included in the weight-watching, but I felt it needed to be emphasized. I don’t have any statistics to back me up, but I have a feeling the average American spends more yearly on dentists than they do on MDs. Read labels, there are many misconceptions about what is “good for you”, fruit products probably aren’t nearly as good for you as you think they are.
Cut back on the stress: Stress will kill you. It’s not worth taking the promotion at work, if its going to mean a considerably more stressful working environment. If you hate your job, start looking for other options. If you’re constantly arguing with your spouse, consider counseling.
Be happy: Look at your life. Is there any one thing that stands out as being more of a burden than anything else? It could be a relationship, it may be a job or a commitment. It could be something you’ve volunteered to do. If possible, eliminate it. You only go through life once, nothing and nobody is worth spending it unhappy.
Go to the doctor: This may seem counter-intuitive, but most problems will not “go away on their own”. If something is wrong, getting a professional opinion as soon as possible will almost always save you, both monetarily and physically. There isn’t a disease or condition out there that doesn’t have an exponentially better survival rate if caught in its early stages.
Keep an eye out for Part 3!
Did my post help you? Buy me a coffee?