I became a “Gold Powerseller” on eBay today…what’s your opinion?
Monday, May 11th, 2009 - 8:29 am
Just this morning I got an email from eBay letting me know that one of my eBay accounts has achieved “Gold PowerSeller” status on eBay.
Now don’t get me wrong here…it’s taken work to get that account to this point, but the label of “Gold PowerSeller” says nothing about my profitability, business stability, the long term prospects for continued growth or profits, my ability to create multiple streams of automated income, or even my business instincts.
All it really means is that I’ve paid my eBay fees on a lot of transactions.
More simply stated…even a total business fool could achieve Gold Powerseller status and not have a dime to show for it.
What’s the point? Where’s the big lesson?
I’ll keep it simple.
Nearly all eBay success training will guide you toward being a “PowerSeller”, but that’s a meaningless goal.
Your aim should be to create multiple automated income streams and lifelong customers. That’s what the training at MySilentTeam.com will help you accomplish.
To hear further thoughts on this topic use the play button below…
(This recording is enhanced with various background noises from the busy Cockrum family household)
(Please leave your comment - click the comment button below.)
Hi Jim
Very interesting blog post.
Its true that being a powerseller does not reflect your true profit position.
Best Regards
James
Congratulations on your achievement. Even if a fool can achieve that status he still needs to be congratulated. If it were that easy everyone would have gold status.
I like the idea of multiple streams of income.
I just wish I had more time to explore more avenues to increase income.
It appears they need a comma between the desciptors “recognized” and “respected” so it doesn’t look funny.
yeah, the whole powerseller thing is just about revenue taken in.. doesn’t even factor in profit. i sell alot of books on ebay… usually in the $10-$30 range… i rarely pay more than $1 for any of these books.. pretty good profit with each one but it would take alot of book sales to get me to $1000/month to be a powerseller - plus i sell most of my books on amazon anyway. meanwhile, if you sell computers - you could sell 2 computers a month and be a powerseller regardless of how much profit you make on each one.
Hi Jim,
yes it is just a title without any value. Just my opinion. And you have a misspelling here…
MySielntTeam.com
Take care.
[[reply from Jim]]: spelling error corrected
Jim as per usual you have hit the nail on the head,thats why I enjoy your “way” of using ebay,which is not the way ebay intended it to be.
Best Regards Peter
Hi Jim,
point taken mate it’s no good selling a million items for nuppence profit. Better by far to sell much fewer items and generate great profit on each.
Jim, please correct the spelling of the above link. (MySielntTeam.com)
As to your thoughts, yes, powerseller status is meaningless to me. I don’t want to have to rely on eBay any more than I have to, so using it to start new relationships that can be nurtured and built off eBay should be the emphasis.
Good thoughts, Jim.
[[reply from Jim]]: thanks for catching my error. It’s fixed. Thanks for the feedback.
Hi Jim,
You’re absolutely right!
I know a lot of eBay sellers are chasing the recognition of becoming a powerseller…gold, titanium, etc on eBay.
And the thing is, they lose sight of what is really important in doing business on eBay or on the internet for that matter - the need to create multiple income streams that doesn’t require much work on their side.
Keep up with all the great advice Jim.
I think what your doing is right on track ebay hs changed up so much being a powerseller or even a Gold says a lot but means very little , your correct having more than one stream of income is what pays the bills , it is not good to depend on ebay for a living as you said they can pull the plug and the whole thing can change .
One power seller I know has done very well over the years but her sales have dropped to zip ..and she is not making much of anything now so that says alot about the way ebay is doing things when you go from great sales to zip in a few months something changed .
Jim your doing what is needed and I for one will fellow in your footsteps and learn from your experence and grow my online business and use ebay as a stepping stone to help build traffic to my off ebay sales .
I sell a few things on ebay but can not depend on it to pay my bills so that is why I got your book and will Join your membership so I can improve and it will take time but it is well worth it .
Tanks
Neal
Jim, I agree that most anyone can become a PowerSeller on eBay if they sell enough stuff. I’m a silver PowerSeller.
I wish I knew what your additional “thought” on the subject are. I am deaf and your (and all the other) audio comments are worthless to me. I noticed this is a very popular feature in almost all the sites that offer information. This is why I’m at a disadvantage joining a membership site if I don’t have full access to information as the other paying members.
I do read all your newsletters and I appreciate that they are still in written format. Thank you.
Brenda
Of course eBay will be looking to train power sellers, profitable or not profitable… Its in their interest!
But if they think about it, more people selling more things, achieves the same goal for them, and is better for the individual… (Enter Jim!?)
JIm,
Interesting stuff…I bought your book a few years ago…haven’t joined your membership site yet…I’ve struggled for several years to get Power Seller status…and I make a pretty good “retirement” income on eBay..I’m planning on using some designer templates on my eBay listings…what’s your opinion on using listing templates?
Thanks, Dave
[[reply from Jim]]: I’ve not seen any evidence that convinces me that pretty templates help or hurt your sales. Good honest descriptions that aren’t hard to read is all you need. I use pretty plain looking listings. (i.e. as long as you don’t use red letters on a black background you’ll get the same results as someone with fancy listings)
What a great insight that one would consider it obvious — obviously not. I have heard of many strategies such as selling ALOT of penny items just to jack up the rating to “look good” to the buyers out there.
Myself, I also am going for profitability.
David
www.createyourbusinessplan.com
Well, you do get the added customer “Feeling of Security” with the Gold Powerseller badge.
That is, of course, depending on what you are selling. As there are some markets that actually do worse for sellers with the Power-seller logo attatched.
Personally, I have noticed a trend of higher Auctions being done by sellers with much lower-than-expected status. Primarily in the nich-markets.
Well, without going into a full disertation on my eBay ponderings, I’ll state that I agree. The ability to create and maintain multiple streams of income on a consistant basis is what our true goal should be.
Kudos and congratulations..
Kevin
It is possibly that my main problem is that I don’t have a niche product or a website to go with it.I can see how a powerseller would profit from gradually gaining repeat customers.And I can see the benifit from gaining all of the email lists from all of the sales to use for marketing etc.But what I don’t see is the how to create multiple streams of monthly income allthough I completely understand how they could be set up as automated.So I take it that this is probably one of the main reasons for joining MySilentSalses program.Next month after I re-start up my ebay sales and if I start to earn enough money I am seriously considering to join myself.
I always thought you said that you use eBay as a tool to get people to buy your stuff. That power seller status must have made you a lot of money somehow. Didn’t you have a huge auction for a training session on eBay just a month ago? That was some good money. Just a little confused on why the gold status did not make you money.
Rich
Nice going Jim, but in the long run does the buying public really care. From what I see most are looking for the lowest price and the fastest shipping. That’s why it is called an auction.
I for one agree that you have to create multiple streams of income using Ebay as one of your vehicles to drive the paying public to your most profitable products.
BTW: Your MySilentTeam.com is a good probram, but your OfflineBiz.com program is far superior!
Hi Jim. You know it’s ironic because I just became a “Bronze” Power Seller Today. Definitely agree that being a Power Seller on Ebay says absolutely nothing of ones profitability, stability or longevity. Fortunately, I attained this status
AND was Substantially Profitable during the course of my Ebay business. March 21, 2009 I received an email from Jim about “Johnny in San Diego” and IMMEDIATELY Acted on the information. A month later, I had generated over $3,000 in sales and my ROI per dollar spent was $5.00!!! You have to be sure that Your profit margin cover your item cost AND Ebay fees, Paypal Fees as well as shipping fees (Not to mention your time and Energy)
Thanks Jim for all the Amazing Content You provide at mysilentteam.com.
It is truly a Godsend!!
Sincerely,
Clifton Carden
Hi Jim, I’ve not got started in the IM business yet but appreciate the points made and all taken on board. Many Thanks
Dave
Hey Jim,
Your post really hits home re: long term associations. Just this morning I received word that two sites were terminated due to technology and Ebay changes. The Cool Little Website had been up and running since 2006.
I thank You for the excellent advice.
Best Regards,
LG Mayberry
Jim
Hi Congratulations anyway - it certainly looks impressive!
I joined eBay UK in 1999 and have been a Powerseller on there for quite a while and apart from a phone contact and discounted invoices I can see no other benefit as far as getting more profitability -increased fees lately are making a real dent in my income
I am a member of offlinebiz.com and truly appreciate all the help you give me there and on this blog/email in trying to earn a living online
Thanks
Andrew
Instead of trying to SELL on ebay,maybe OWNING a piece of it would be more desirable! I don`t know about you fellas,but I`m fed up with getting soaked by their freakin fees! I recently got my PayPal acct. shanked by a $5.00 echeck fee on a $29.99 ebay sale!,lol. Now with the newest PO rate increase,it gets even worse. It could be that at some point,it becomes difficult to acheive ANY STATUS…much less “Powerseller”!
Congratulations for having attained Gold Power Seller Status on eBay.
I agree with you that this award does not fully reflect your true dimension and leadership as an eBay marketing expert.
Thank you,
Noel G.
Jim, you’re one in a million.
Gold Powerseller, as you say, is a great title but doesn’t indicate any profitability.
I want to be a “Gold” Gold Member of offline biz more than a Gold Powerseller unless I had the income to go along with the (perceived) income of that kind of title.
Nontheless, you’re just too modest and I congratulate you on your success.
Chuck
Congratulations for having attained Gold Power Seller Status on eBay.
I agree with you that this award does not fully reflect your true dimension and leadership as an eBay marketing expert.
Thank you,
Noel G.
Thanks Jim for you insight and for clearing up what I thought might be the case. As Always your thoughts are very vaulable
Is there a “special” requirement to be a affiliate for Ebay or “Partner”, I think is their term used? Do you need to have a web site or Ebay store or something else? I got turned down but they won’t explain why. What’s the “secret” handshake or “magic” word?
[reply from Jim]: I think you are talking about the “eBay Partner Network” which is their affiliate program. The answer is “no” you don’t have to have an eBay selling account to be part of the affiliate program. What you do need to have though is a decent website - even an active blogging site will do. It’s part of the material covered in the mini-site-formula.com course.
I would think being an ebay powerseller is the foundation of success somehow. As an ebay customer, powersellers are always my primary choice before I bid. At least I know the sellers are serious about their ebay and other business as well. Trust and integrity are what we need especially for online business. As your team member, I hope I can learn more from you and be successful in years to come.
i am not sure about this. But for me, once you have achieve as a gold powerseller, you will get more people purchasing your stuffs.
Which also meaning that you will be able to ‘mark-up’ your items easily.
Examples - my niche selling area, once my competitor has achieve powerseller status. They are able to markup the prices higher and people are still willing to pruchase from them. This is one of the better advantages i see.
However getting more incomes through different steam is great too.
Jim,
Yes, I agree unless you made enough money to make it worth your time, it really doesn’t mean much. The title not what we are after now is it. It’s to make a living and securing our future. If you get a title while doing it it’s a nice thing. Congratulations Jim and may God keep Blessing everything you do.
Congrats Jim. I just got my first 4 points (100%) rating. Up until now, what with getting “early retired”, struggling to remain “relevant” through diploma pursuit (ha ha! look how well _that_’s going!)and all the rest we need not be bored with here, I wracked my brain trying to figure out what to sell on eBay. For years. Wound up starting small by selling used clothing. (Not as easy as expected, but easy enough.) A journey of 1000 miles…eh? I’m also beginning to understand your strategy. I guess trying to move cut up mags will be next?
One caveat to newbies - be absolutely certain about shipping weight! Don’t gen a mailing label thru PayPal until!
I also just made PS on eBay this year (January), and I am in it to make money. While I am profitable now, I am also interested in a more stable income stream with a higher profit margin. I must say, however, that it was with profits from my eBay sales that I paid for my membership for a year on My Silent Team and have purchased other material from Skip McGrath and Steve Lindstrom which helped my eBay business grow so that I now can afford a website of my own. I had no personal money to invest and had to make it on eBay first. I’m only Bronze, and I don’t really care if anyone knows, but I do benefit by the fee rebates and a phone contact. The status “title” is worthless truly, but some of the benefits are valuable. I would never sell anything at a loss just to become an eBay “precious metal!”
Congratulations!
I meant Steve Lindhorst, of course. Sorry, Steve. This is probably the 3rd blog I’ve ever posted on except for one eBay group to which I belong. So much for hurrying….
Jim your too humble…. [:o)
In my opinion Jim, I agree, having a POWERSELLER status at any level ,although may be profitable, does not speak of your awesome superman abilities to produce “multiple streams of income, list building strategies, and the potential increase for future sales outside of eBay” no more than sitting in McDonalds makes you a hamburger.
But those of us who have purchased your book “The Silent Sales Machine” are all so happy you shared the real Superman Abilities of eBay that have stood for your years of success.
Today you have been recognized for your “Efforts” on eBay, but Above and Beyond the recognition you are “changing lives” and continue to help and encourage a good number of us who are wanting to reach and maintain that status of success as well… for that I CONGRATULATE You!!!
Blessings and warm regards,
Tommy
All true comments, but…
I’ve been using your ideas and have been generating multiple streams, slowly and surely. The great thing about being a PowerSeller is the discount on fees. That alone saves me $250-300 a month that I can put into building other income streams. Basically, it does add value to the buyers’ eyes, because most of them have no idea what that means. Also, you can’t have complaints against you or you lose it, so there is definitely value there in my eyes.
Keep up with the fantastic info, it is encouraging!!
Thanks Jim, your articles are always interesting.
I agree, I’m silver powerseller in just 5 months. You’re right ebay is not steady, crisis in Spain is everyday worse and I think in United States too, ebay customers are disappairing and a lot of sellers appairing with lower prices, most of them even don’t earn enough to pay the ebay fees and will disappair soon, meanwhile they damage the market, then others will come.
Curiously besides ebay, now I’m selling more than before from my web and more than at ebay, more confortably and with more profit than at ebay….and without rules!
But you opened my mind knowing the value of have the customer’s email adresses. I expect those email adresses will be like gold for years.
I think one of the best things on ebay is to have quickly a lot of buyer’s emails classified by sector to take profit for them on long term
Keep Up the Good Work!
Once again you have hit the nail on the head Jim - must be why I still opt to receive your emails whilst dumping the ones from other IMs!
I totally “get” your idea re: multiple streams of income and hopefully this year will see me start such a sales strategy.
There is value in being a Powerseller as Kristin Lieb says, but when I purchase goods it is the price and feedback percentages not PS status that is prime.
Still, congratulations on achieving your Gold status.
Congratulations Jim,
I try to learn as much as I can. It’s exciting!
mike, I’d like to know what kind of books you sell for $10-$30! I’m lucky if I get 10p-30p!
ole vet, you are so right!
Good work Jim,but I would rank you way higher than a “Power seller”.!!!! You’ve came a long way….
Congradulations!!!!
Jim, congratulations on your gold status. it may mean different things to different people. you earned it, enjoy it! congrats again. I have just purchased your 3 books and I am enjoying them.
thanks much
don green
You guys give Jim a break with the spelling errors. Jim I like your approach to eBay and IM.
I would like to hear from more of your subscribers and the success they have had online.
How about asking for a shout out from your favorite students.
I think it would be very encouraging to everyone.
Thanks and keep up the good work.
Jack
CONGRATULATIONS!!!
Congratulations Jim! Some of the previous posters have said everything I intended to say, so I’ll let it be…
How interesting. I opened my email today and eBay invited me to their PowerSeller program on one of my accounts. Right below that email was yours!
No doubt being a Power Seller should not be the end goal. In my experience, it does give some credibility to a buyer, particuarly a new one, to some selling categories. But honestly, I don’t think it really matters all that much for final prices or credibility after you’ve reached 500 or more positive FB with a good rating.
I was a Platinum Power Seller for about a year and let me tell you you gotta sell a LOT to get that. And what did I get from eBay? Phone calls! More than I liked. I’m not as active on that account anymore. I have a Silver rating. I notice no difference in sales from being Silver or Platinum or even Gold for that matter.
So should one accept the invitation to the program? Why not? While I think the whole concept of Power Seller and eBay trying to make you feel “proud” or whatever is silly, if you’re selling anything in quantity enough to be a Power Seller then you can qualify for a discount on your monthly fees. Up to 20%. That’s a chunk of “savings”! (and another post) You must be a Power Seller in order to recieve a discount. So Take it! But I would never make it my goal to be a Power Seller. If you are doing things right it will just happen. UD http://www.ILoveCashBack.info
Jim,
Great comments. This really hit home for me. Growing up the emphasis was always on hard work. The focus should be on smarter work and leveraging high value ideas. At the end of the day, you can’t spend your hard day’s work. You can only spend your hard earned cash.
Best,
Derek
Hey Jim!
Congrats on Gold P’Seller status. Personally I think any achievement should be rewarded. Its not as easy to make money on eBay as it was 10 yrs. ago.
I made Bronze Powerseller during the last quarter of 2008. I have to admit though, I made more money selling on Amazon. Nontheless,I do think it instills confidence in prospective customers-so I would not “sneeze at” gaining PS status–just would not break my back trying to keep it!
Yes you are so right that having that stigma of “Power Sweller” doesn’t mean jack… But I thought ( and I might be wrong) that was a way to create more sales… That eBay customers will trust you more… So if my belief is wrong then please correct me…
I love your blogs and letters I want to say a Big Thank you…
Reg..
Congratulations on your latest achievement Jim! Receiving badge of recognition for work well done is a great motivational force to continue on. Most of these recognitions do not necessarily translate to monetary benefits, yet they are important to our wellbeing. I myself am happy to know that our leader is one of the greatest in the internet industry. Enjoy your laurels, and keep up the great work!
Nona
True that Jim! Not only does gold status (or super high feedback) not always equate to a profitable and sustainable business on eBay, it doesn’t insure viability as an online business in general. We all know the ol’ saying, don’t put all your eggs in one basket. eBay is a big basket and if you really want to build a diverse, profitable and sustainable home business online, then you have to build multiple streams of income. That being said, one also needs to focus on the task at hand, one step at a time. A stumbling block that I, and I am sure many others have hit is taking on too much at once and just not getting enough complete. Build your business online, one stream at a time.
Cheers!
Jeromy (AKA Hillbilly)
http://twitter.com/JeromyS
Congratulations Jim. You worked hard to get to that status - and you have a fantastic book (I only have one) I did start ebay store preparations sometime ago then quit - fees etc. Thank you for your newsletters - always such good information. I do not have the multiple streams of income - at present working on my own book/e-book then I can decide which route to follow.
It’s very small in size, written in easy language but understood completely.
Jim, I passed this on to a newbie who will really appreciate what youve said.
The only reason you don’t get more comments is its difficult to figure out how to leave it.
Also, I would also try telling people you have enough people on your list so DON”T share this with anyone, unless you really like them. (little reverse psyche)
I’m definately going to be following you a lot more and taking advantage of your wisdom.
Thanks
Hi Jim,
Great info as usual. I am begining to totally dislike eBay . What do you think of http://Bonanzle.com I think they are going to be the future… eBay is pissing off a lot of Sellers.
-They refuse to be Mac friendly.
-They are holding seller’s money on transactions for 21 days which is illegal.
-Power Sellers are refusing to give feedback even if they get paid instantly until you give them positive feedback.
-Tons of sellers are moving to bonanzle where there is a true community that stays directly in touch with each other .
-You have options of Paypal or Google for payment.
Maybe you should write a new book about Bonanzle and the positive experiences there.
Mary
Jim, I am a senior newbie, I want to get started in internet marketing. No one has gone in the direction you mentioned in your newsletter. I thought you would probably need a fancy website; but what you said makes prefect sense. I am going to re-think what I should do. I have never thought of building a list. Mary j,
hi jim
first , my appreciation because of your kindly,helpful,clear,positive,friendly,solid,
anxiety,trains contacts,persuade,influence,
teaching, behaviors . i am living on ASIA and 30 years away from internet and english language , but on my uncertainty world ,you give earn me clear prospects about online marketing , i am happy to be your member team , and like to do some good thing on your benefits. i did not start my desireble job , but know what can i do ,thanks ,sam