New generation of online entrepreneurs are cashing in

Jan 28 2010 By Karen Dent, The Journal

Hundreds of thousands of people have offloaded their unwanted belongings and made a little extra cash via online auction house eBay. But the advent of the recession appears to have created a new generation of e-entrepreneurs who are taking the idea of running their own online business much more seriously. Karen Dent reports.

But he says potential e-entrepreneurs shouldn’t think that starting up an eBay business is a get-rich-quick scheme.

"There are a lot of people who think they can do eBay, but it’s harder than they think," said Mr Newman.

"Anybody can do it, but you have to research it first. I see so many people spending money on websites but they’re the wrong websites for what they need. You need to research your market.

"You need to know your rules and regulations. It’s becoming a much more customer-driven business – you’ve got to get your customer service right or you lose out. On Saturdays, I go to Tynemouth Market and on Fridays, Saturdays and Sundays, I’ll be at Wetherby Market (buying stock).

"It’s not just the selling, you have to go to the car boot sales and the auctions.

"Every night, I must do at least two hours’ work for All Your Yesterdays. Lesley does more than that – she does seven days a week."

Mr Newman, who concentrates on selling small collectables such as badges and postcards, has now linked up with the Go Wansbeck enterprise agency to teach the skills needed to sell online to school pupils and long-term unemployed people.

"I do workshops for kids on how to set up your own e-business. We base it on eBay, looking at the enterprise skills involved in doing an eBay business," he said.

"We hold a real auction at the end of the session, which is interactive. The object of that is for people to make the most profit."

Although eBay businesses are one of the most common enterprises that e-entrepreneurs choose to run alongside their main jobs, the almost universal adoption of the internet means it can be much easier to start different types of enterprise while still in full time employment.