Hitting the Ground Running
Posted on January 29, 2008
Filed Under Uncategorized
Are you thinking about selling for the first time or thinking about getting your feet wet? Well here is some advice on how to grow and become somebody out there in the market. Most people go the eBay route because all the work is done and you get to make some money but you play with a lot of other people that have that market cornered. Others take the challenge of building an online store and website to peddle their coins. Who knows, maybe you will do both and learn how to drag your eBay customers to your site and not pay fees on your sales. The latter obviously being the best advice to give. So let’s look at a few areas.
1. Stocking Stock
Most sellers try buying lots from distributors because it can be a cheap way to get started. This will almost guarantee failure since everyone has already done this and the market already has too much of the same coin. You need a real separation between you and everyone else drop shipping from the same place. I would go on a limb and say 10% of those that use this method only survive enough to make a buck. Get past this and become someone special.
2. Stocking Your Stock
Start designing and making your own designs that are unique but good. If you suck at making ideas happen, then find someone that can. If you can make 10 unique coins a year you will find a bigger success as long as you make coins people would want to add to their collection. I personally work with several people that take this road and yes it is slower but I can guarantee 90% of the ones that take this route will be someone.
3. Stocking Everything
The combination of both the ideas given can really help spread you out and make you look a little more serious. Focus 20% on general stock and undercut everyone you can, then take all profits (80%) and build a private line of coins. This is a great path for any new seller that wants to be around for a while. If you can’t create your own thing then you will always work for someone that can…don’t be that guy.
Now that we have looked at 3 ways to consider your stock let’s look at other factors that separate you from the rest of the sellers. The majority of sellers are old, boring, and never provide help because they are afraid of giving their business to you. This means they know they don’t have anything special. The trick is to do something they won’t do…provide information! That’s right. When you write articles, blogs, guides, or anything else people will listen and eventually if you are on point you will gain the respect.
I can’t even tell you how many times people have wanted to do business with me because of this reason. More people want more advice from me on these subjects alone that I should give up selling and making coins and start selling advice on it instead. I have setup sellers before and I still continue too. These people are important to the hobby but when they don’t give back it hurts everyone involved. This is a hobby in desperate need of voices to talk about it.
Author Thoughts are from Adam Mulholland, CEO of U.S. Challenge Coins .com 1-877-700-7022
