Okay, today we’re going to pick back up on the “market research process” to find out what to sell on eBay by knocking out the last two action steps in “exploring the market”. And those are “expanding your DHIP list” and “prioritizing your DHIP list”

If you haven’t done action step #1 (Creating Your DHIP List) then you need to do that now or otherwise you’ll be left behind and have no clue on how to find out what to sell on eBay. You can do that here.

Action Step #2:  Expanding Your DHIP List

Take your master DHIP list out and log onto eBay and then type your first one in the search box like this example below. We’re going to search each one – one at a time.

In this example I typed in golf. Now press the search button and lets see what we can find. When the next page comes up I want you to start paying attention to things like….

• What kinds of different products are showing up?
• What types of categories are showing up?
• What types of sub-categories are showing up?
• What types of sub-sub-sub-categories are showing up?
• What types of products are showing up that compliment the ones on your DHIP list?
• What types of products are showing up that are related but different than the ones on your DHIP list?
  

Here, let’s take a look…..

The purpose here is to help you see “past the door” and expand your thinking to see opportunities that are on the other side of your master DHIP list that you’re not aware of just yet.

On several of our businesses, we may  have started out with “golf” (example only) but after “exploring the market” we found other products/ideas that we would have never thought of.

Listen closely……

Many times what you start out looking for is totally different than what you end up with. Just like with our own true story earlier about “drag racing”. We started out there but by “exploring eBay” it opened my eyes and got me to seeing, thinking, and understanding the possibilities of what to sell on eBay.

And what I ended up with was quite different than what I started out with which lead us to making money on eBay with our first six-figure business that brought in $251,091.53 in just under 12 months.

That’s why I want you to write everything down that you see and make NO decisions yet as to whether or not you think you can make money on eBay with it. It isn’t time for that.

Take your master DHIP list and “explore the market”. Do each one and do them one at a time. And as you explore each one write down ALL the other possible products/ideas that you see.

This should take you at least an hour to do each one. And that’s why it’s called “exploring the market”. Have fun with it and don’t get in a rush on this. It’s perfectly okay if this takes you one day or one week.

Action Step #3:  Prioritizing Your DHIP List

Once you’re done, take your master DHIP list and passionize it (okay, thats a word that I made up)! What I mean is to go through your master DHIP list and prioritize it with the TOP #3 that you’re most passionate about, the most interested in and or would have the most fun doing as a way of making money on eBay.

Those will be the ones that we research first from your master DHIP list and the reason why is simply because it doesn’t make sense to start where your heart isn’t the happiest!

I wanted to point out that you will need a simple chart to help you stay organized so that you can record and then review all of your information intelligently at a single glance. This really helps especially when it comes time to “weigh” and “decide” on what to sell on eBay as far as your market.

When I first started I did this with a sheet of paper and drew some lines on it with the edge of a book because I didn’t know how to use Microsoft Excel (yes, I was that dumb). Now I use Microsoft and I have an image below of what that looks like.

I used this to keep up with all the information about the top #3 on my DHIP list. You will notice other information on there that will become important in the next coming weeks. I would encourage you to have something like this even if you had to hand write it on a sheet of paper like I did.

Okay – that’s it for this post. You don’t want to miss the next post as I will be starting Part 2 of the “market research process” which is ”researching the market”.

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Chat Soon,

Blessings – Duane Hope

P.S. Go ahead and post a comment below and let me know your thoughts about todays training. And if you think this information will help someone else make money on eBay – then feel free to share it with them by using the “Share/Save” button directly below .