eBay profits pay for startup
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How I Bootstrapped my Business with eBay Profits By Lynn Schneider Deep down, I had always wanted to start my own business. I envied other women who had done it. The trouble was, I had no bright ideas -- until recently. It’s funny how it came about -- not from hours of brainstorming, or from reading piles of books – but from my own dental experience. I’ve been a technical writer for 15 years, but I haven’t worked in almost a year. As the dot-com bubble burst, we tech writers have fallen into dire straits. I made a great living doing part-time contracts. It allowed me to be home with my daughters after school. But in the past year, the work has dried up. Hourly rates have been cut more than half. One year ago, at age 41, I got braces to straighten my crooked smile. The day I got my braces, my orthodontist handed me a little baggie with some supplies: a couple of toothbrushes, some dental wax, and other goodies. I stuffed it into my purse. The next time I ate at a restaurant, I scurried into the restroom with my little baggie. I came out with clean teeth and a wet shirt. I needed better supplies, especially a folding cup. I searched the web for a dental kit and was surprised to find nothing. I asked my orthodontist, but he just shrugged. I realized that if I wanted a functional dental kit, I had to put one together myself. After searching from store to store for a couple of weeks, I finally found all the items I needed, including a decent folding cup. Whenever I ran into a fellow metal mouth in a restroom, they’d delight at the kit I’d put together. That’s when the light bulb went on: I bet other adults would buy something like this. And how about kids? I bet kids and teens could use it, too! I scoured various dental supply catalogues and sent for product samples. I looked at every conceivable type of travel toothbrush, folding cup, and dental pick ever invented. I looked at bags and cases until I was bleary-eyed. It took three months, but when I finally came up for air, I had a really nice orthodontic travel kit. I plugged the numbers into Excel, with the help of my husband, whom I affectionately call “Mr.Spreadsheet.” I could actually turn a profit on this baby! After some creative brainstorming, I decided to call my product DentaKit™. But how was I going to raise the money to begin this fledgling business? I didn’t really want to raid our savings. So I turned to eBay, and became an eBay seller. I bought items (usually clothing) cheap at thrift stores and yard sales and put them up for auction. I made money. For example, a specialty t-shirt that I bought for 99 cents sold for $15. A polo shirt purchased for $2.99 sold for $25. And an antique book that I found at the bottom of a bin, which I purchased for $1.50 sold for a whopping $76. (If the cover had been in better shape, it would have been worth $250!) Soon my husband and I searched our house for items that had value. Between the thrift store items and our own discards, we raised more than $2,000 – half of what I needed to bootstrap my DentaKit business. It’s so easy, that now I regularly visit the thrift stores and keep a steady stream of cash flowing into my PayPal account! I’ve developed an eye for what sells and what doesn’t, and I’m constantly checking eBay for new ideas. Creating my DentaKit business utilized all the skills I’ve developed in my past careers: writing, web design, PR, marketing, and spreadsheet analysis – not to mention shopping, bargain hunting, and intuition! It all came together in one place, and I’ve enjoyed every minute of it! So far, I’ve sold a bunch of DentaKits to grateful adults across the country via my online store. I’m hoping to sell more, and develop a rapport with consumers and orthodontists worldwide. I’m learning every day how to use personal and web resources. And I’m setting a great example for my daughters. No matter what happens with DentaKit, they’ll always remember that mom had a bright idea, used all her know-how, and went for it. If that isn’t a lesson for these crazy times, I don’t know what is. *** Lyn Schneider lives in the San Francisco Bay Area with her husband and two daughters. She was a technical writer before getting braces and Dentakit. You can visit Lynn’s online store at http://www.dentakit.com. © siliconmom
