Perform a SWOT Analysis for eBay Auction Business.

I attended a 3 days workshop conducted by Adam Ginberg in a 5-star hotel on 22-24 Aug 09. A total of 75 participants took part of which 35 of us are paid participants.

The workshop was conducted quite professionally with co-trainer Mr. Micheal whose role is to break the ice and give motivational talk before a session starts. We were taken to some “soul searching” why are we in the training and why do we want to do eBay Auction Business. He was very competent, in my opinion, to break the ice and get us motivated before Adam Stanberg took over to give us some tips on photography.

He is a professional photographer as well as a software programmer. I learn a lot of photography techniques for static objective for the purpose of listing into eBay. It really made a static “live”. He explained that a lively looked item attracts more viewer in eBay and hence get better chance of a sale. When I make a comparison with the regular eBay listing, I appreciated what he said. Take a look at this item:-

View monitor
The slideshow above gives you a better perspective how the blood pressure look like as compare to a static picture. This technique is very useful for anyone who wants to succeed in eBay auction business.

After I the photography session, Adam Genberg started the training on eBay listing technique and the use of a listing software In the eBay Auction training, Adam taught us what eBay is about and how Auction at eBay can take us into a real business. The later of most of the time spend on teaching and practicing how to use a eBay listing software which come along editing of item.

At the end of the 3-days training, I managed to list 3 items to eBay Well, that was the outcome of 3-days eBay Auction Training. How to I take the training into a real auction business? Let me try to use the SWOT Analysis Template to analyse the Strengths-Weaknesses-Opportunities-threats and to formulate a strategy to work on this eBay Auction Business. Here it goes …

SWOT Analysis – STRENGTHS factor

1. gain knowledge in eBay listing
2. have access to an auto listing software
3. have access to Adam’s support center

SWOT Analysis – WEAKNESSES factor

1. has not establish credibility in eBay – No feedback
2. no familiar to list item – take alot of time
3. still skeptical about the auction business

SWOT Analysis – OPPORTUNITIES factor

1. Vast market in eBay (14% of online sales come from eBay)
2. Online purchases in US, Uk and Australia is big
3. Online purchase in Malaysia is growing

SWOT Analysis – THREATS factor

1. eBay has the prerogative to shut close my account
2. competition is very keen in certain niche
3. credibility may drop due3 to negative comments from customer

The next task I need to do is to validate the SWOT Analysis factors for its probability and impact. After I have confirm the key SWOT Factors, I shall use the SWOT Matrix to formulate my strategies in eBay Auction Business. I use this SWOT template to perform for blogging business as well.