11 Tips For Starting A Successful Auction Platform

Want to start your own auction platform? Here are 11 tips you should know.
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We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.

Here's the best advice we discovered for starting an auction platform:

#1: Kyle Bergman, founder of The Great Fantastic:

We chatted with with Kyle, founder of The Great Fantastic ($17K/month). In our interview, Kyle says:

Normal sweatpant overalls did not exist online after a quick google search, nor in any stores that I visited. So I made them.

Additionally:

Every entrepreneur gets incredibly lucky at one point or another. Could be simple timing, or could be a blissful ignorance of the enormous risks that are not recognized, and therefore unknowingly avoided by chance.

Further:

Fail early and fail often. I didn’t get into Business school the first time I applied. My first Kickstarter campaign didn’t reach its goal. My second crowdfunding campaign was late being delivered to customers by 3 months.

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Read the full interview ➜

#2: Adam Elliot, founder of D*** At Your Door:

We chatted with with Adam, founder of D*** At Your Door ($25K/month). In our interview, Adam says:

What started as a joke quickly became a viable business with real opportunity.

Additionally:

E-commerce is all about finding the right niche and understanding the people in that niche.

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Read the full interview ➜

#3: Miriam Zelinsky, founder of Lazyjack Press:

We chatted with with Miriam, founder of Lazyjack Press ($21K/month). In our interview, Miriam says:

I went to the mill and had a little trouble (to say the least) because of their religious beliefs - they did not think a woman should be in this business.

Additionally:

[Spending money on loads of ads] is such a big risk, especially when that money pays for one month at a holiday market where I know I will make good sales and forge great new relationships with customers.

Further:

I only want to work with people who love the brand and believe in it. In turn, they also see more turnaround because they’re invested in it as well.

Also:

The biggest advice I can give you is to just start. You don’t need to have everything figured out – you will figure it out when you begin.

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Read the full interview ➜

#4: Dan Watkins, founder of GloFX:

We chatted with with Dan, founder of GloFX ($400K/month). In our interview, Dan says:

I started GloFX with $400 in capital, and within 30 months, I watched that $400 snowball into $1,000,000.

Additionally:

Create strong business systems. Never underestimate the power of a well-oiled machine and what it can accomplish.

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Read the full interview ➜

Want to start an auction platform?

See our full guide ➜