Catchy title right?!?! Now that I’ve got your attention, your business should obtain and keep the attention of others. Everyone is so quick to dive into building a brand without taking care of the essentials…. Mandatory investments that are done properly on the front end, will save you on the back end.
When I first started selling AUTHENTIC luxury goods online, there weren’t many platforms that catered to that specific niche. So my natural instinct, directed me to ebay. No store setup, no fancy name, just the regular account that I had, is what I used.
While being a shopaholic for myself, and significant other, I constantly came across amazing pieces, and returns of designer exclusives in sizes that I didn’t necessarily need, but were desirable and in demand to resell. I provided detailed descriptions including year and season of collection, in addition to original tags, packaging, dust bags, and if purchased for full price- a copy of the receipt.
Everything was fine until I exceeded well over 5 figures in my PayPal account.
Personally what I enjoyed doing at the time wasn’t “business” in my mind. But, I was required to open a business account, which required forming a corporation, obtaining an EIN number, and all the bells and whistles associated with doing “legitimate business”.
Of course this process did not go smoothly.
So to follow up, and learn valuable lessons and what mistakes you can avoid, subscribe below and stay tuned for PART 2.
Adventures of an Entrepreneur 