A year in review and whats to come.

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Last year at this time, I was listing things on Milbid, and generally just plodding along learning how to blog and market my listings.  It was slow going has some sales and I was moving along at the snails pace I had set for myself.

I had a simple plan when I started.  I was going to slowly list things to sell online, build up my reputation so when my daughter went to school full time in a few years I would be in a better position to work at sales full-time.

About this time last year I also discovered twitter, which then opened an entire new world for me as far as ecommerce is concern and where my business is headed.  Talk about opportunities changing ones plans. I found a great group of people via podcasts and groups showing me all the great ways to move my business forward.

An entire ecommerce world opened up to me, Amazon and Ebay, the giants and the up and coming Bonanzle.  I learned how to list better, what keywords, and attribute were, to make my listing more effective.   How to research items to see what would sell.

I knew that list it and they will buy is a thing of the past, which is part of the reason I had left eBay in 5/08 but also learned that allowing an emotional reaction to rule my business was not effective.

April brought the ECTMA conference in Atlanta, I did not physically attend but listened to all the live broadcasts and followed along on twitter, Tweeting out things that I felt would be relevent to others, some on twitter even thought I was actually there.

In June, I got over myself and went back to listing some things on eBay and I did well, my items sold.  I also opened a booth over at Bonanzle and have been slowly working on it.  It built my confidence that I could actually do this and make some money.

Every time I started making some headway real life would intrude and I would have to slow down for a bit and deal with it, but I discovered if one perseveres you can easily get back on track.

I missed the entire Christmas selling season due to one such glitch but it has given me the time to figure out what I really want and what i need to do to keep moving forward. I have closed my eBay store as it was not cost effective for me.

2010 is going to be huge growth year for me and my various ventures.

I still list and sell on eBay and Amazon and Bonanzle but will be moving full speed ahead with all those venues, getting more books listed on Amazon and running auctions on eBay frequently to move my stock out.  The largest change for me will be on Bonanzle, I am still going to list my one of a kind items and kids clothing, but I also have entered into a licensing agreement with a small manufacturer to provide me with a stable product line, retailing their products.  That should start early February 2010.

The other new venture I have started is I am now working for U.S. Challenge Coins as the operator of there various ecommerce venues including eBay, Amazon and Bonanzle.  I look forward to assisting the companies growth via marketing on the different venues.

I have made some great friends over the last year and some wonderful mentors that I would like to thank here:

Auction Wally – without following him first on twitter I would never have met the rest, he has also provided excellent information via his various podcasts such as Brainstorming Bonanzle where they accepted my input even though I did not sell there, the Selling Circus for great variety and of course his AuctionWally show.

Dave White – for presenting all sorts of information on his ebayandbeyond basics to business podcast, that one show introduced me to the much wider world of ecommerce and allowed me to interact with a great group of people.

John Lawson – his colderICE blog and and B.S walks when money talks show, was always fresh content and helped me learn to cut through the B.S that is provided as information on the internet.  He also told me I could stop calling myself a “newbie” because I wasn’t that anymore and made me realize I knew more than I thought I did.  He Barack 2.0 group was also a wonderful growth experience.

Phaedra Stockstill- for always being there and helping me talk myself out of the corners I talk myself into, she knows just the questions to ask to make me figure things out for myself and for all the help with my Booth and giving me a job on the BonanzleBoardroom to keep me out of trouble.

Marlene Gavins - The Savvy Seller, for all your great informational shows and your friendship, I enjoyed meeting you in Boston and I value your advice and opinions whenever I have a question.

Beth Cherkowsky- for always having Google talk open and being an ear when I am frustrated and great suggestions when I am stuck, also for asking me to join OBS so I can continue to learn from those that have done it longer and all have very different businesses.

Susan Leak and Kat Barton- my twitter buddies, we have lots of fun conversations, plus if I need to know about music or vinyl I know Renagades will know and Gypsytrading is a great resource for antiques.

Cliff Aliperti (andotherstuff)  and Vince Jelenic (Greenspotting) for all our great late night conversations, the advice I have received from both of you has never steered me wrong and you make me look at things from a different point of view.

Kat (Katskloset) and Mel (galleriagifts) – for your great podcast on The River the Ranch and the Bay, along with Beth you all have taught me a lot in the last year.

Cindy Shebley and Dany Byrne – of websellercircle for their great site, with tons of informative webinars, always being available to answer questions in the forum, and especially for helping me set up my Photo blog, when then enabled me to set this one up.  I have learned so much from them.

Henrietta (redinkdiary) for helping me to learn how to negotiate the pitfalls of selling on multiple venues and taking the time when I was new to Bonanzle to advise me on the best ways to use the site.T

Last but not least my friend Adam from Milbid,  he has been my friend since the beginning of my journey off ebay and has presented many opportunities for me along the way.

There are many, many other people that have helped me along the way but to list them all would turn this from a short story to a novel.

My final musings on all of this is if I can go from a tiny newbie seller on a small alternative site to managing 6 stores on 3 venues in 1 year then anyone can do it.  All it takes is the desire to work hard and learning to listen.  Making connections and networking only works if you are willing to put in the time.  There is no such thing as get rich quick, but you can grow and grow fast in the age of ecommerce on the internet.

Traffic or loyal following which is more important.

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I started a duel recently on this very topic which is more important a loyal following of fans/customers or the traffic a large site like eBay or Amazon has? You can find the latest comments here: Hobby Auction Seller and feel free to add your own opinions.

This question started out as a conversation between Auction Wally and I, as he has been having success running auctions on a variety of platforms.   So for him having that fan base is working well. They are willing to purchase on Twitter, eBay, Bonanzle or Deal it live. But the question then becomes will that work for everyone?

I have decided that it just might but not for the reasons I originally thought.  My first thought were yes because his fans will come buy from him so that is similar to seller to seller sales on the smaller alternative auction sites.  The complaints to that are that a site is not viable if it is only seller to seller transactions it needs outside traffic.

Yet, in the course of exploring this topic I realized that not all his sale would be similar to seller to seller sales because by having a fan base his sales also come from referrals.  That has made me realize that a fan base or group of followers is very important and one of your best marketing features, especially with the growth of social media and web 2.0.

It made me realize if I needed something I am sure one of my social contacts would carry it and if they did not they would have someone in their circle of friends that did.  To give you some examples of what I mean I am going to add a list here of some of the people I have met in the social spaces and what they sell.

If I want any of the following these are the people I would seek out and it is in no means an all inclusive list.

Incense – wholesaleincens
Old Magazine Back Issues & Vintage Movie Cards – andotherstuff
Urban accessories – colderICE
Handmade Greeting Cards- Felicitations or 0ctavias0riginals

I personally may not need any of the above but as a fan of these site and the quality of the items and customer service provided, if anyone were to ask me where to get those types of items, I would be able to point them in the right direction.

My final thoughts on all of this is that drive by traffic is nice but word of mouth advertising is much more likely to actually convert to sales, and with web 2.0 and social media word of mouth spreads a whole lot faster.

Hope this challenges you to rethink the potential of social media.