by Stuart Lisonbee, Doba Education Specialist

Some online retailers make millions. Some make hundreds of thousands. Far more end up in the red, disillusioned with the idea of making money as an online retailer.

What separates those who succeed from those who don't? The following quote from Paul Mitchell (cofounder of the Paul Mitchell hair care company) pretty much sums it up:

Successful people do the things that unsuccessful people won't."

To achieve success, follow in the footsteps of the most successful Doba members. Here are some suggestions to get you started on your road to success:

* Work hard, long hours. Success doesn't come easy. A 60-80 hour workweek is the norm, not the exception for successful full-timers. You won't be selling and dealing with customers for all of that time. You can expect to spend a good chunk of that time learning and researching.

* Think like an entrepreneur. Become a trend spotter, so you can identify hot-selling products before the competition starts to heat up. Searching for opportunities should be a daily activity—keep a product idea log book.

* Research. Research both products and markets for opportunities. Research also provides you with the information you need to effectively market your products to customers.

* Market. Another retailer can always sell something for less. Don't compete on price alone. Market your products and your business. Give customers a compelling reason to buy from you rather than a lower-priced merchant.

* Learn. Doba offers an Education Resource Center, use it to learn your craft. Online retailing is very competitive. To succeed, you not only have to work harder than the other guy, but you also have to work smarter than the other guy.

* Stick to it. As almost all successful business people will tell you, their failures far exceed their successes. You may have a half dozen or a dozen failed business ventures before you hit on the formula for your success.

Running a successful online retail business requires much more than simply listing a bunch of stuff for sale on eBay. You have to market the products effectively, build a business that people trust, keep your customers satisfied, and be prepared to adjust to the ever-changing marketplace. It's not easy, but by learning from best and committing yourself to success, you can achieve it.

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