Flipping antiques, collectibles, clothes, and other in-demand items is a great way to make extra cash online. After selling online for the better part of 20 years, I’ve learned a few lessons the hard way and dramatically refined my business approach. If you’re considering flipping the switch on your own flipping business, here are eight common mistakes to avoid.
1. Buying the Big Stuff
Sometimes our eyes are bigger than our shipping capacity. Unless you’re willing to sell locally through a site like Craigslist (an option many flippers are skittish about), stick to items that are relatively easy to pack and ship. And if you do end up buying a particularly large or unwieldy item, don’t list it until you have all the necessary packing materials on hand. Delaying shipment while you scout around for the perfect box tends to annoy buyers.
2. Splurging on Expensive Technology
There are a few things you need to get started flipping, but ridiculously expensive technology isn’t one of them. Particularly in the beginning, keep things simple, test the market, and see how successful you are before making your enterprise too tech-heavy. Equipment-wise, all you really need to get started is a computer, a decent camera, and a smartphone (and if you know your stuff well enough, the smartphone is optional) …