eBay Fertile Ground For Young Entrepreneur
Look out Warren Buffett and Bill Gates, here comes Corey Kossack!
Okay, so the 23-year-old Tempe entrepreneur may have a long way to go before he catches up and passes the two investors who are among world’s wealthiest, but he’s off to a good start, most people agree.
Kossack, a recent Arizona State University graduate, formed a company that in less than two years has sold more than $1 million worth of products on eBay.
And, his computer-based company, Koss DVD, is projecting sales to reach more than $3 million this year with steady, 10 percent sales increases each year for the next five years.
The youthful and energetic Kossack has also produced a computer software program and written a book, both aimed at helping eBay sellers make money, a lot of money — just as he is doing.
The book, “eBay Millionaire or Bust: Hidden Strategies That Maximize Profits and Create Wealth,� explains his methods for making a profit on the Internet site that attracts millions of visitors, both buyers and about 1.3 million sellers globally and has reported gross sales of more than $4 billion a year.
The ASU graduate attributes his achievements to several of his college mentors, including Peter Burns III, entrepreneur in residence at Grand Canyon University and Joan Koerber-Walker, CEO of the Arizona Small Business Association.
Koerber-Walker helped Kossack get his book published and said: “His book shows he had a keen business sense. His natural instincts are good,� said Burns, who leads the 700-member Club Entrepreneur at Grand Canyon University.
His secret of success? “Focus on profits, not the number of sales. I don’t want to become the biggest seller on eBay. But I want to continue increasing our profit margin. That’s the secret.�
Photo by Tim Hacker.
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