If you read my posts, you know I want to break out of my shell, my non-entrepreneurial shell, so I started reading Side Hustle: From Idea to Income in 27 Days and decided I want to sell some things on eBay as a test.
So I bought these Verizon 4G LTE LG phones from government surplus and tried to make a listing on eBay which turned into an odyssey of learning and joy. I’ll save you all the boring details but here are my lessons learned, starting with eBay.
1. eBay is closely tied to paypal and well, I learned some things about paypal as well.
2. When you are a new seller (or a seller newly entering a particular category) eBay limits the number of listings you can make in any one category. In the category of cell phones, that limit is one listing for every 30-days. So I get to learn patience.
3. My research indicated a much higher price for these phones than eBay suggested so I will have to wait and see what an auction might gain me.
4. eBay charges an insertion fee of $0.30 for each listing, although they give you the first 50 insertions free. eBay also charges 10% of the final sales cost.
As for lessons learned regarding PayPal:
1. One method PayPal uses to verify identities is phone numbers registered in the account holders name. I share a family plan with my daughter and son-in-law so this became a point of frustration. I sent a photo of my driver’s license which took a day longer to verify than if my phone number was registered in my name.
2. PayPal could not link up with my credit union accounts. I had to create an account with an online bank in order to link an account with them. I recommend using the differing deposit amounts to verify the account with PayPal.
3. When using PayPal’s website on a computer, clicking the “call” button only returns you to their contact information page.
4. PayPal charges 2.9% of the transaction plus $0.30 for each transaction.
Anyway, I managed to work through all these problems with patience and persistence, which I think are traits of an entrepreneur. 🙂
Thank you for reading and enjoy the present!