ANCHORAGE

This morning, in my Google Alerts inbox came a question from a small business owner about eBay…

This is not unusual because while eBay wants to create the impression that the entire process of setting up an eBay selling account is a simple 123 affair, in reality it can be quite a challenge. There are numerous decisions to be made and each one is important.

Nothing could be more important as an initial decision for a small business when setting up an eBay account,than the choice of a name for your eBay ID.

Plan ahead and think about this vital decision.

The eBay ID name can be changed at a later date, but for the sake of continuity and because when you change your name, you lose links and possibly your customers, it is best to research and select the name you will stick with.

I hope I answered the question adequately for crhodes113 on the Marketing Profs Know How Exchange… (See text below)

Selecting a good eBay name is an even more important decision than selecting a corporate or traditional business name.

Remember, no matter what neighborhood or town your retail store may be in, you usually do not have to consider the search capabilities, whims and trends of 225 million buyers looking for your products. (eBay.com).

Business Name

Posted By: crhodes113 on 1/8/2008 4:05 PM (EST)

I am beginning a business on ebay and trying to decide on good name for it. I want it to be attractive, classy and now. I will not be selling only one line of merchandise. I will have mostly new and very slightly used clothing. They are primarily designer labels or high end manufacturers. Other items will be antique linens, glassware that is vintage or very nice later date. I think I will consider this a boutique so that I have room for various items. Can someone suggest some names that are appealing?

I replied:

Names on eBay should be more than just unique or interesting. You must consider many aspects of your business and your customers.

Think about who your primary customers are?

What words would they use to search for your primary products?

How will they best remember your name to return again and again?

What name will instill trust and confidence in first time buyers? Trust is huge in online sales…

Remember that your business name and your eBay name should be close to the same thing but they do not have to exactly match.

You should also remember that your eBay stores name can be slightly different if needed but should use very similar words (keywords preferably). And for your business model you really should look into using an eBay store…

If you use more than a single word in your eBay ID you should use a hyphen between the words.

example: Beauty-Boutique or Baudy_Boutique

Once you have landed on a theme of names (write every one down as you think of them). Check google’s keyword tool for confirmation that these search terms are used by people looking for your products. You could also look on eBay based research tools like Terapeak or Hammertap to be sure your market niche is good for your business plan.

Then when you have narrowed your list of names down, look on eBay to see if your favorite name is available.

Good Luck!

If you need any more information or help with eBay stores or stores design you may contact me through my blog:

All Business Auctions

Scott Pooler

eBay Certified Education Consultant – eBay Stores Certified Designer & Powerseller.

http://allbusinessauctions.com/blog/2008/01/09/whats-in-a-name-how-does-a-small-business-select-and-ebay-selling-name/

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This program helped me with get past my writer’s block, and the financials helped me to see the money that was really involved in starting my own business.
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If you’re like me, you love accounting. It’s so fascinating and such an ingenious system. Don’t you just think that Double Entry Accounting is the most beautiful creation of all humankind?

Okay, let’s get real. You probably think accounting is boring and best left to pencil pushing geeks (like me!). I mean…BOOORRRRING! Total Snooze-fest!

Well, my friend, I’m about to introduce you to Real World Accounting for Regular People. But, be careful, it just may change the way you look at accounting FOREVER! In fact, one of my clients looked up from a spreadsheet one day and said, “Wow, I never knew accounting could be FUN!” You just might have the same experience.

For starters, a lot of people think accounting is about math, which is an immediate turnoff. Although accounting does include math, it’s more like a foreign language. All you need to do is learn the parts of that language that actually apply to you. Think about visiting a foreign country. You don’t need to be fluent in the entire language. You just need to know the important things like what to order (or not order) in a restaurant, how to get directions, and how ask where the bathroom is. It’s the same thing with accounting. You need to know what you need to know and the rest is unimportant. I mean, do you really need to know about corporate accounting practices or off shore financial transactions. Probably not.

So, how do you figure out what you need to know when you don’t even know where to begin? Follow me and I’ll show you!

The first thing you need to know is this. You must, must, must keep your personal finances and your business finances separate. Using your personal checkbook for all your transactions is a bad way to go. Here’s why:

o The Internal Revenue Service wants to know that you have a very clear distinction between your personal affairs and your business affairs. They want details. If you try to pass off personal expenses as business expenses, you’re violating tax laws. They don’t like that.

o If you ever plan to borrow money for your business or get credit from your vendors, your lender or vendor will want to see detailed records of your business performance. Handing them your checkbook register is not going to make them want to give you money or sell to you on credit.

o You need to know how your company is performing at all times so you can plan ahead, make adjustments in your operations, and make informed decisions.

o The more accurate your records, the more accurate your tax return. It prevents you from missing deductions.

o It’s the only way you’ll know whether your business is making money or if you’re just kidding yourself.

So, if you don’t have a separate checking account for your business, go get one. It’s easy and inexpensive and it will give you clarity on how your business is really doing.

The next step is your accounting system. Now, when I say “accounting system” I’m talking about an organized way of keeping track of your records. It can be computerized or it can be the old fashioned pencil and paper route. The important thing is that a) you have one and b) you use it.

Finding a System That Works For You

Your record keeping system needs to be designed so that it works for you. It should be:

o Simple to understand

o Flexible and adaptable to changing needs

o Inexpensive to develop and maintain

o Require little time to maintain

o Be handy and convenient to use

If you use a computerized accounting software package like QuickBooks, all those qualifications are met. I generally recommend QuickBooks to my clients because it’s easy to use and you can also find local support for set up and troubleshooting. I don’t whole heartedly recommend QuickBooks because I think parent company Intuit is losing touch with its core customer (we, the small business owners of the United States of America). There’s too much nickel and dime-ing and poor support. But, at this point, it’s still the most widely used system and certainly meets the needs of most small businesses as far as what it can do.

I do recommend that you get professional help in setting up your accounting system if you don’t have an accounting background. It’s a case of Garbage In Garbage Out. A well set up system will give you the best information with the least trouble. It’s less expensive to have it set up right to begin with than it is to have it cleaned up later.

Whatever record keeping solution you choose for your business, the key to success is actually using it on a very regular basis. Otherwise, your business struggles and you’re in constant danger of sliding into the Cash Flow Swamp.

Caroline Jordan is a small business mentor and consultant helping small business owners understand, diagnose, and improve cash flow in their businesses. For more information and resources to improve cash flow visit [http://www.TheJordanResult.com/mastering.html] .

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