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Going Concern - Accounting Principle Applies to Ebay 2

by: nelsontrotter( 2627Feedback score is 1000 to 4,999) Top 5000 Reviewer
1 out of 2 people found this guide helpful.
Guide viewed: 875 times Tags: Ebay business | Ebay sales | Ebay Success | Tips for Ebay | Ebay auctions


When I took accounting principles in college, I learned that the first principle of accounting is that a business is a "Going Concern".  I wondered why that principle was necessary to discuss.  Over time, I learned why it is necessary.  Having a business on Ebay made it crystal clear with exclamation points!

A business cannot run itself.  It must be nurtured all the time.  One Ebay store owner said her goal is to input seven new items each day.  My goal is to input twenty or more items each day.  The more quality items you add each day, the more items you will sale and the higher your income will be.  It goes without saying that, good research should precede entry of these items.

I teach school and am without a check for two months in the summer.  Ebay sales were my income for the past two months.  When I diligently researched and added items, my sales were great.  When I did not add new items, regardless of the reason, it was very obvious from looking at my sales figures.

There will be days, and sometimes weeks, when you cannot add items to your Ebay offerings. Do not get discouraged.  In order to minimize the impact of these times, it is necessary to exceed your own daily goal as often as you can.  If your goal is to add twenty items each day, add thirty or forty or more on days when you feel an extra surge of energy or have more time. 

For your going concern to keep going, you must continually work it!

 

 

 


Guide ID: 10000000001603468Guide created: 08/12/06 (updated 05/03/07)

 
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