May 22
eBay is Like Crack to Sellers!
My eBay “habit” began in 1999 and for the first 6 years I was in heaven, but in Dec. of 2005, I had to make a decision. Was I going to try and restructure my business, for the 2nd time in as many years; after all it was still generating nearly $350K a month in cash (no profit mind you). Or, would I quit cold turkey and deal with the inevitable crash and burn when the crack (cashflow) stopped.
I actually had three options:
I could sell my business for whatever I could get. It made sense to put my sales on top of a lower cost structure and my brand was one of the best on eBay. I actually had a buyer, but the deal fell through at the last moment.
I could restructure and try it one more time, hoping I could stop the bleeding and grow my website. The […]