* No Problem!
Although Mark Ostrofsky is known as the "technology wildcatter," he says, "I am not technical. I have never, ever created a website." So how is it that he's earned tens of millions of dollars online?
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"Making money on the Internet is a learned skill," says Ostrofsky, author of Get Rich Click. You can live it and learn it from your own experience, but I find it's so much less costly to learn from others' experiences and try to then minimize my mistakes. Learning is the key to success in any business."
Some of the advice he offers is counterintuitive. For example, most people think if they're going to sell a product on eBay they must have the product in hand first. That's not necessarily the case. Here's an alternative, potentially more profitable approach Ostrofsky teaches newbies who want to use this mega-site's selling power:
* Get a phone with a digital camera or get a digital camera.
* Take photos of anything you think you might be able to sell on eBay or another site.
* Post that item for sale, put in a starting point with a small profit built in as a minimum price. Be sure to include shipping costs in the price as well.
* Post 10, 30, 100 different photos online. Some of them will undoubtedly sell.
Collect the money from the buyer and then go buy the product and fulfill the orders.
"There are people who do this for a living on eBay; they even use the same photo over and over. If they sell enough of a product, they can often get the supplier to mail it for them so they don't even have to handle the shipping," Ostrofsky says.
Even if you have no interest in selling products on eBay, Ostrofsky still offers a lesson: With a little creativity and know-how, it's possible to build real wealth an the Web.
"I've lived an extraordinary life, not because of my father's money but because of the exemplary life he's lived as an example to me."
--Peter Buffett, musician, composer, author and producer, about his investor-father, Warren Buffett
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