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Pearl 5: Analyzing Other Sellers
- NOW, back to the late night infomercial. Consider this. The guy there on TV is rich, right? Yes. Ask yourself, how did he get that way?
- AND, do you think he would tell you? Of course not. So, how do you learn from him? Simple, watch him, rather than believing the packet he sent you in the mail. Research him, see what he did to get where he is. That is a far better way to learn from him than to listen to him, as half of what he is saying is bullcrap anyways.. I have found that watching top sellers can tell you far more than listening to them. Then, you might ask, why am I listening to you? Well, occassionally, you will find someone like me, who simply does not know when to shut up and tells you a lot, as he enjoys teaching. I believe there are a few out there, such as Robert Kiyosaki, that are telling you the honest truth, rather than giving you a line of bull.
- SO, the idea is to reverse engineer what top sellers are doing.. Look at their eBay auctions.. Ask yourself, how did they get there. Look at their auction structure, look at how much sales they have had through looking at their monthly feedback (generally you just times their monthly feedback by about 2.2 and you will have how much items they sold last month). Then, take a cross section of what they are selling and you can get an idea of how much money gross they are making.. You will be surprised just how much you can figure out about anyone, just reverse engineering their sales. Further, you can sometimes even figure out their source for buying product!
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