Legitimize and Legalize Your Business
Remember that selling your wares online over eBay is akin to any other business that you conduct offline. Which means that you will have to register yourself with the concerned authorities, and also pay the requisite taxes. So, do not ignore this aspect, and first ensure you complete all the legal formalities.
Unknown to you, there are innumerable tips and tricks for selling on eBay, on the eBay.com website itself. Make sure you go through all of those, which will help you get a foothold over almost all aspects of the ‘selling on eBay front’. The ‘University’ section on eBay.com should especially come handy.
Write an eBay business plan
To reiterate the points mentioned earlier, a business on eBay is akin to any other “normal” business undertaken offline. Accordingly, you must prepare a business plan for your eBay business as well. Over time, you must be prepared to make income and cash flow statements, balance sheets, etc. for your eBay business, exactly the same way as you would for other businesses.