My Muse

[jpstephens]

So here it is...

I am currently registered with the gov't as Eight Fold Trading. I picked the name because I felt a lot of my life is lived by the eight fold path of buddhism and perhaps it would be good kharma to incorporate it into my life.

I'm going to be operating my muse as an eBay store selling Pro-Audio microphones and recording equipment. So for I have found a dealer of 5 types of microphones and gotten the price guides in pdf format.

I have opened a bid on elance at:
http://www.elance.com/c/rfp/main/jobDesc.pl?jobId=12690514

I am going to be going with a designer who will be creating a logo, ebay template for the store, and stationary for 490.

Then I posted an ad for data entry to take all the products and input them into my store as inventory. I found a couple developers willing to do it for 20 cents a product.
http://www.elance.com/c/rfp/main/jobDesc.pl?jobId=12693800

I am ready to accept the bid's and put the plan into motion, In the beginning I will handle forwarding the invoicse to the dropshipper but once I get 20+ orders a week I will be able to pull on a virtual assistant who will automate the logistics and bookkeeping.

I will also use the remainder of the money left over and put it towards a google adwords ad campaign to drive additional traffic to the store.

Once the profits rise to the point of being able to grow I plan on opening a Yahoo! store to eleviate the chance of being stuck in one proprietary store...

Well what you guys think?

[kingfu]

Good luck on your business.

A few questions:

How are you gonna to compete on price when by the sounds of it you're not going to be receiving wholesale discounts drop shipping against competitors who are buying in bulk?

You need to be trying more avenues of marketing than just google adwords. Perhaps a referral program? Ads in specialty magazines? Ebay if you can compete on price (and if you can't dont bother, ebay is a race to the bottom not many people can win).