Challenges bring the best out of you. I stepped into the formal business when I was 18. I started selling seasonal products on eCommerce platform eBay and offered single day dispatch. I was a very young seller with limited product mix in my inventory. As I was a new seller, I had to pay hefty amounts for packaging and shipping of my products as the e-commerce platform would offer free shipping only when a selling threshold is reached by the seller.
I wanted to skip the shipping charges. I took a look at my competitors and found out that they were selling the same products for a cheaper rate. I devised a plan and started buying products from my competitors and resold the same at a higher value. This did two things for me:
- I could capture the market share and maintained the costs
- I wouldn’t have to pay for the packaging costs as I leveraged the packaging in which the product arrived.
I continued this cost-saving strategy for a few orders and reached the selling threshold. Now, E-Bay recognized me as an efficient seller and provided me with the packaging material and took the responsibility for shipping and handling of products. A small idea had done wonders for me and had increased my margins by 30%. I continued my business and soon became a top rated seller with 98% positive consumer feedback. This not only maximized my profits but also helped me pay my college fee for a year. It all begins with a Dream and Desire to succeed.
#ABGLPWooMe
