How to Start Your Own Online Book Business: Chapter Three

Well, I've told you how I got started in the online used book business, and I've told you where to find your inventory. So in this chapter, I'll tell you what to expect, as far as inventory turnover, how to grade your books, and why it's so important to grade your books properly.

First, don't expect that you will sell every book in your inventory immediately. You won't. You may buy 50 books, sell 10 the very first day they're listed, 5 the next day, 5 a week out, another 5 two weeks out, and the rest one-by-one over the next six months. You are establishing a rotating inventory of books. The size of that inventory is up to you, and depends on how much income you want to bring in. A larger inventory will bring in a larger income.

Unfortunately, some books will never sell. As you become more experienced at buying inventory, and learn what sells and what doesn't, these mistakes will happen less frequently. But no matter how good you become at knowing what will sell, you will have a few duds that will never sell. These, you sell for a nickel at a yard sale or donate to charity. It's just the cost of doing business.

Some books I've had for years on my shelves. Then suddenly a news event sparks interest in a subject, and they sell like hotcakes. Generally I'd say if you haven't sold a book in a year, dump it. You'll need the space for new inventory that will sell. Just keep adding books as you sell them.

Grading your books properly is not only important because of the various online book sites' feedback systems, but also because you want your customers to be satisfied and turn into repeat customers. Books can be graded new, very good, good, and acceptable. Don't label a book new unless it's new. And don't label a book very good unless it's nearly new. This way your customers' expectations will be met, and you will be the recipient of positive feedback. And trust me, feedback is extremely important when selling books online. Chapter Four coming soon...