Using eBay to Finance your New Business

* Update January 10, 2006. DXInOne has seen a very slow period of eCurrency Exchange system activity. eBay may very well be the best bet.

* Update July 12, 2005. I think this technique could be used effectively to earn money for your first investment in DXInOne. In the long run, you will make enough from DXInOne that you will not need to look around for any other business. But starting with money you ‘earned’ from getting rid of some household items could be a great start toward your financial success.
I recommend using eBay to finance your new small business. Before looking to your checking or savings account and way before you even think about using your credit cards, think about selling unused or unneeded items on eBay to finance your new business. Whether you are starting a eBay business, an Internet retail business, or entering the network or direct marketing business, selling items on eBay can generate money so that you do not have to raid your family assets.

I found that I had a notebook computer that I was not using much, a XM satellite radio that I could live without for the immediate future, a dress watch that I did not wear much anymore, nice sweaters and jackets that would not fit anymore, and other things around the house that I really did not need. I was surprised at how much money I got for some of the items, and it was nice to get rid of some of the clutter. Getting rid of clutter can also help you to find a nice place for your home office. One thing to note: when you purchase an item try to save the original box and packing items if you have the room, having these things can really increase the final price of anything you sell on eBay.

I made an Excel spreadsheet to track the items that I wanted to sell and how much money I got for them. One nice note about taxes, because these are household items that you are selling for less than your purchase price, you do not have to pay state or federal taxes. Of course you should consult a tax profession with any tax questions, and the above is not meant to be tax advice, but you can sell these unwanted items and then turn them into tax deductions when you use the money to purchase things that you need for your business.

As an added bonus, if you plan to do business on eBay these sales will increase your feedback and build your seller's reputation.