How to start a home based business with no money out of pocket is really very simple. You don’t have to fill your house with product anymore. You don’t even have to have a separate bank account for your business anymore. You don’t even have to go to seminars that support your home based business anymore.You might wonder how a home based business works. Well the range of home based business is so long, it would take days to tell you about them. But for the short version you only have to ask yourself, what kind of labor do you want to put into it? If you want freedom to move around from state to state, or be able to pick up and leave town for a month or two, then you are on the right track to starting your home based business for nothing out of your pocket.A home based business does not have to be at home. Like the saying goes, where ever you hang your hat is home. Doesn’t that sound wonderful. Hang your hat on the back of your fishing cabin door. Or how about hang your hat on the dashboard of your 40 foot motorhome. Are you getting the picture here? It’s a wonderful life if you choose so.Now let’s get back to nothing out of pocket. There are businesses where you can sell other peoples stuff. I like to say it that way, stuff, it makes this whole thing more playful. And you always want things to be playful, it makes your JOB much more fun. Now you can sell stuff like reading material. Or you could sell stuff like doggie products. You can even sell car insurance for companies, and they pay up to 75% commission on almost everything you push for them.You see they have no overhead expenses with YOU out there selling their stuff. And because of that YOU get the BIG commission for doing all the finger tapping on your computer. These various company’s will give you a web site, a landing page, you name it. So you see your pulling nothing out of pocket, and your making money while sitting in your fishing cabin, or motorhome. It is a truly win-win situation. I love the way that sounds.So now comes the hardest part of all. You must find what it is that TURNS YOU ON!! Really, that will make all your dreams come true. Remember to keep it fun. You don’t have a boss anymore to make you feel bad. You don’t have to drive to work anymore to make you tired before you even start work. This is all about YOU and only YOU. Your life will change in so many ways. You can work in your pj’s if you want. Just keep it respectful here, but always keep it fun.Okay now I have given you a pretty good idea how this can go for you. Now how do you go about finding something you want. Just pick an idea or product you like. Then go to a site on your computer and down at the bottom it will say AFFILIATE. You want to click on that word and they will take you through the whole thing on getting on board.Okay now this is the day you have been looking for. I have just given you all the FUN STUFF you need to get your life where you belong. Don’t wait. Go to a company name or a product by searching through a search engine. All you need to do is make a move. You must believe and have faith. This is so simple you might think it’s not for real. But it is, trust me when I tell you this. I’m not wasting my time sitting here making STUFF up that isn’t true. What do you think I’m doing here? I’m trying to spread the wealth. So keep reading and get on board.
Hiring An Auction Company
Estimating your assets value:
Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.
Compensation and Expenses:
Is the company you are considering working for you or against you? The agreement you decide may determine this.
A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.
In a straight commission structure, the company is paid an agreed upon percentage of the total sale.
In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.
In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.
In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.
What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.
Auction Expenses:
In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.
All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.
Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.
Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.
Buyer’s Premium:
What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.
The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.
It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.
Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.
Pre-Sales:
We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.
As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.
Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.
A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.
It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.
When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.
Boomer Entrepreneurs: The Single Most Critical Ingredient to Start a Successful Home-Based Business
Baby boomers starting a home-based business for the first time need to make sure they’re doing it for the right reasons. Just being fed up with your current situation is probably not enough to keep you motivated. Many boomers start a home business because they hate their job, and end up failing because there’s a single most critical ingredient missing that keeps them inspired.That essential missing ingredient is passion. Your enthusiasm, zeal and excitement for your business are what will keep you on the right track, on the good days and, most importantly, on the not so good days.It’s tough, and almost impossible to keep your own home-based business going if you’re not committed to working hard, and wanting to make your new venture a success. Believe it or not, you’re a far tougher taskmaster on yourself. You work harder, and longer hours than you would ever agree to in a traditional job. It’s your love, and complete dedication for whatever you decide to do, that forms a coat of armor around you to protect, and keep you going through thick and thin.For this reason, you need to spend time researching the ideal home business that inspires you. There are a myriad moneymaking opportunities on the Internet for exciting online marketing businesses. Nevertheless, before you take the plunge to become a boomer entrepreneur you want to find a home business opportunity that fits your needs, your interest, and your passion.Be careful not to be sucked into tantalizing promises to make a six-figure income overnight. These ‘get rich’ schemes are much like the lottery, which means that your chances of winning are one in several million. Being on a losing streak before you even get started, will not get on your way to a successful new home business. True moneymaking business opportunities take time to build.There are three further ingredients that you need to thrive in your new endeavor.1. Embrace your waresYou need to fully understand and embrace the products or services you are selling. You need to understand the features and benefits so that you can easily explain them to your prospects.2. Find a nicheYou need to research and decide on a niche market to focus your efforts. Your products or services may well appeal to a vast majority of people, however, it’s far easier to target a specific group to get started. Realize that you can’t sell to the world at one time, even on the Internet.3. Uncover concernsOnce you’ve established a niche market to target, you need to do your research to uncover their concerns and challenges. Armed with this information, you can design the best marketing tools to use to connect to this group. Perhaps the new marketing tools, namely, social media platforms, are the best way to go. Alternatively, you may decide that more traditional marketing is best. Whatever you decide based on your research, be creative.Consistency is key to your success. You must continually take planned actions to improve your business. Like baking a cake, you need the right ingredients and a certain method to make sure that it comes out the way it should every time.In your home-based business, when you follow the right recipe, you have a greater chance of success.It all starts with your passion. This is the single most critical ingredient. Without it, you are likely to burn out and fail. However, a deep love for what you do will guide you. And like magic, your business will flourish, and that six-figure income is well be within your reach.