For the past year or so, our blog post on How To Refresh Your RSS Feed on eBay has been one of our most popular articles. It was a super easy way to give your posts a quick boost in search results and increase your sales through exposure. That is, until the 24th of June 2018. We have known for awhile that the RSS Feed function was going to die "sometime in late June" since the release of the 2018 Seller's Update but it was still a blow when it finally disappeared. We say "disappeared", but the reality is, the only thing that disappeared is the ability of seller's to see and manually refresh their feed. According the the Seller Update, RSS Feeds are either outdated or will automatically be taken care of for sellers. So what to do? Our vote is to not worry about it! There are other things you can do that will have the same effect as refreshing your feed!
Why did refreshing your RSS Feed work?
Record Keeping and Tax Time for eBay Sellers (plus the best free eBay tracker spreadsheet for new eBay Sellers)
**Before you read, it has to be said that we at ResellingRevealed are not accountants, tax advisors, or anything of that sort. We're just sharing our experiences and you can take them for what you will. If you have questions regarding taxes, ask a professional.**
We regularly see the question posed in eBay seller groups, on facebook, and on instagram, "Do I need to report my reselling income to the IRS?" Yes, yes you do. In fact, if you sell on eBay for the purposes of making money, the IRS will classify your hobby as a business, no matter how you view it (also, if you buy with the intent to resell you need a business license, but that's a story for another time). Whether you make a single dollar or a whole lot (or even lose money), you run the risk of getting audited and owing the IRS if you fail to file.
Our first year as part time sellers led to an atrocious tax season for us. We had just acquired a business license after already selling for a few months, and had no idea that we needed to be keeping all our receipts (let alone tracking our driving miles, etc). After hours of digging crusty receipts out from underneath our car seats and combing through our bank statements, we were finally pretty confident that we got it right. However, the experience left me with two lasting impressions: If you have to pay taxes on something, you sure as heck better take it seriously if you want it to be worth it, and you also better keep meticulous records. The real reason that we encourage people to keep records is not simply to protect themselves from auditing, but to maximize their deductions. Most small business miss out on thousand of dollars worth of deductions because they are simply unaware and don't track them.
So, the first question we have to ask ourselves is, what the heck are hardgoods?! Well, for our purposes here, hardgoods are any non-clothing items that can be sold on eBay. Backpacks, appliances, electronics, cookware, books, games, collectibles, and what have you. While clothing is a great way for people to start out with (since there's so much of it) it's worth noting that anyone who makes a lot of money reselling on eBay either switches predominantly to hardgoods or lists clothing in extremely high volumes (often with hired help). While it's not practical for most people to source only one or the other, we hate to see people limit themselves to clothing and miss out on all the hardgoods profits. If anyone sources their goods mainly from thrift stores and encourages sticking to one type of item (shoes for example) you can rest assured that they are leaving tons of money on the table. Choosing to stick with only one item is super great if you're lazy however as it assures that you can simply stagnate instead to learning and growing. Assuming that you're interested in kicking butt and taking names, let's continue!
Are thank you notes your best defense against negative feedback?
A few months ago, we received two negative feedback within a week's time. Since we aren't mega high volume sellers, this hugely affected our feedback and, frankly, scared the crap out of us. All of a sudden we had 99.5% positive feedback - not bad, but not what we wanted. What was really discouraging is that both negative feedback should have never happened (in my opinion, of course...). The first one came from a buyer who didn't read the description (the jacket was tailored) or look at the included measurements. Of course, the jacket didn't fit. Great. The second came from an honest oversight on our part. The jacket was missing a button, which was apparently very offensive to the buyer. A full refund didn't spare us from her feedback.
The truth is:
If you have 100% feedback, you are lucky enough to have not had any psychotic buyers.
So, what to do?
Well, we figured that reminding people that: 1. we're actually human and 2. that they have another recourse besides negative feedback, would get us what we were looking for (no negative feedback that we didn't deserve). So, after using the cards for 6 months or so, here are our thoughts:
While we highly encourage you to document your hustles because it can keep you accountable, don't get so caught up documenting the journey that you forget the journey itself!
Oh and by the way, this article felt a bit odd to write because, while we know everyone's names and stories here, were pretty much just creepy stalkers and they don't know us from Adam! So if anyone on this list visits, feel free to give us a shout out!
So without further ado, here are some of our favorite sales of the month! As a reminder, these are not necessarily our most profitable sales but the ones we felt were different in some way or there is something that we can learn from them
My wife and I are a young couple, still in school, and doing our best not only to make ends meet, but to excel! We feel like we have so much to offer and can kick this world's butt if we can just get on our feet. Join our journey!