Online Arbitrage VAScale your eCommerce business quickly with the help of Online Arbitrage Virtual Assistant.
What is Online Arbitrage?
Online arbitrage refers to the business model of buying products from retailers and then selling them for a profit. The fluctuation between prices for different retailers in popular online marketplaces like Amazon and eBay can be difficult to track. That is why an online arbitrage virtual assistant (VA) who is experienced in sourcing and reselling products is a handy person to have.
With the rise of dropshipping businesses and online selling, online arbitrage became easier and more accessible than ever, and this new type of business model easily spread across various eCommerce platforms and online marketplaces. Whether you’re selling on Amazon or doing tactical arbitrage for your own online store, the competition is fierce. If you want to go head-to-head with competitors, you need to use programs and software to help automate redundant processes. However, even with plenty of tools available for an online arbitrage business to utilize, there is still a lot of manual work involved in arbitrage. This is where an online arbitrage VA comes in.
How an Online Arbitrage Virtual Assistant Works
An online arbitrage virtual assistant offers an easy and cost-effective way to scale your online arbitrage sourcing business. If you look at the cost of hiring a local online arbitrage virtual assistant in the USA, there’s a big chance that hiring someone locally will put a major dent in your budget especially if you’re just starting up. Hiring an offshore online arbitrage VA instead allows you to overcome the high cost of the local online arbitrage virtual assistant salary.
Online arbitrage is about finding the best opportunities at the right place, time, and with the right products. Sellers need to be conscious about finding the balance of what items to sell at what price and at what platform. No product is created equal and as such, you’re going to need to implement various methods to source online and sell them at the best possible profit.
To maximize cost-efficiency, an Amazon virtual assistant specializing in online arbitrage can help with the manual labor of finding retail websites and price comparison. This way you will still have complete control over what type of products to sell. If you do sourcing using software, an online arbitrage VA will come in handy as they can help run the automated software and set up filters and other criteria to find the best items.
What Tasks Can an Online Arbitrage Virtual Assistant Do?
An online arbitrage VA can be trusted to help with your business’ unique process flow for efficient sourcing. Since prices on Amazon and other eCommerce platforms are constantly fluctuating, you need an extra pair of eyes to look out for opportunities. Here are other tasks an online arbitrage VA can do for you:
- Gathering product information and prices
- Finding profitable products in uncommon niches
- Looking out for deals
- Purchasing products
- Reviewing sourced products
- Managing your Amazon Seller Central account
- Listing and selling products quickly
- Establishing Best Sellers Rank (BSR) price
- Managing costs to maximize profits
- Admin tasks including responding to customer messages and feedback
- Monitoring and improving business systems
What Skills Do Online Arbitrage VAs Need to Have?
First off, online arbitrage VAs should be well-versed in Amazon, eBay, and other eCommerce platforms. Whether you do manual or automated product sourcing, a good online arbitrage VA should be knowledgeable with various online sourcing software as well. They should be experienced with data mining and comfortable with using programs such as spreadsheets and other types of programs that can make online arbitrage processes easier.
To summarize, here are the hard and soft skills an efficient online arbitrage VA should have:
- Excellent writing and communication skills
- Spreadsheet management mastery
- Product listing and price management skills
- Product review monitoring skills
- Feedback management skills
- Basic SEO knowledge
- Inventory management skills
- Must have great time management skills
- Be adaptable to using various eCommerce tools, apps, and software
- Must be resourceful
- Must know how to generate comprehensive reports
How Do I Hire an Online Arbitrage VA?
It is laborious and time-consuming to find a VA on your own. Your valuable time should not be spent on finding candidates for your eCommerce or Amazon business. To effectively and efficiently find the right online arbitrage VA, you must first find the right virtual staffing company to help you. Whether you need a VA for full-time, part-time, or on an as-needed basis, your staffing partner should be able to find the right one for you.
20four7VA is an experienced and trusted name in the Virtual Assistant staffing industry. We specialize in finding highly skilled virtual assistants for your business. Many eCommerce business owners have come to use to find solutions to help them scale safely and quickly.
While hiring remote workers may be an investment, it is a worthy one. Outsourcing repetitive but crucial tasks to a skilled and experienced VA will ensure that you have the help you need. If you’re thinking of hiring an online arbitrage VA for your eCommerce VA, partner with us today. To get started, you can schedule a free consultation by clicking on the button below.