29. Make sure you know how much your actual product cost

^{Using the service of eBay and PayPal naturally adds cost to your product (otherwise these internet giants would not be around to support their service). It is imperative that you know their costs down to the last penny in order for you to be able to make an appropriate mark-up on cost for your product. Unless of course you would rather do business without knowing how much you really earn (or lose) in every transaction.}

^{A great free tool to assist you in figuring out such cost can be found here: http://www.newlifeauctions.com/calc.html}

^{Some other costs that you really should consider:}

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  • ^{Shipping cost of ordering a product since you will have to pay for this unless its free from your supplier}
  
  
  • ^{Actual cost of the product you are selling}
  
  
  • ^{Ebay costs including feature fees, listing fees, final value fee when sold}
  
  
  • ^{PayPal or Credit Card service fees}
  
  
  • ^{Overhead fees like your internet service and electricity}
  
  
  • ^{Man hours – that’s right, never undermine the number of hours you need to get business done and put a value for it. Just imagine how much someone else would pay an hour for your services.}