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Buying Customers and Not Leads, and Other Home-Based Business Tips That Are Guaranteed To Work

What do most people lack, becoming the number one reason many home-based businesses fail? Customers.

My rule number one? Never buy leads, and only buy customers.

This is only one of five topics discussed here so that your home-based business can achieve optimal success.

First, I would like to list the top five reasons most home-based businesses fail:

1. Lack of a business plan.

Just because it is a home-based business does not mean you do not need a business plan. You should be taking your home-based business just as seriously as if you were heading into any other type of business, so you need to make sure that the business plan you have is sound and that it has already worked for someone else who has used it.

2. Lack of motivation.

It is easy to become distracted. A home business should be run in the same manner as an office-based business. You need to motivate yourself to go to work in the morning and maintain that motivation during the course of the day in order to succeed. Discipline is a must. I have witnessed many smart people who are totally capable of being successful in their own home-based business, but failed because they didn’t have the discipline and motivation to answer to themselves. Some personalities require direction and management from others in order to be successful, so it is important to know if you properly motivated before starting your own home-based business.

3. Lack of space or proper environment.

If you are fortunate and your home-based business is successful, you may need to expand, so it is important while setting up a home business environment to anticipate growth. Not all businesses can realistically succeed in a home-based location because they need room for equipment, work space, storage, inventory, and employees, so it is important to determine if it is simply too difficult to run your business from your home. Many people learn the hard way by not being realistic upfront.

4. Ignoring a budget.

Too many home-based business owners justify spending money on all sorts of equipment, advertising, leads, and promotional tools because they are not paying overhead. This can result in dangerous overspending which will strip your business of capital needed to succeed and thrive. It is important to spend money wisely on only what is necessary to see growth and success, and not get caught up in unnecessary spending.

5. Lack of customers.

This is quite obvious, of course. Without customers purchasing your products or services, you have no home business. This is the number one reason many home businesses fail because this is what most people lack when starting a business. Of course, there are companies that offer leads or you can go to a third-party source to purchase them, but if you talk to people who have used leads, they are usually a far cry from a constant stream of actual buying customers who could be supplying your home-based business with what it takes to thrive, grow, and become successful: sales.

So, what is a home-based business owner to do to avoid these pitfalls?

1. First, align yourself with a company that will provide you with a steady stream of buying customers to whom you have permanent rights, instead of mere leads.

With customers who are already purchasing being continually generated by the company itself, success will be attained and will continually grow and thrive because you will have all the customers you will ever need. With this, the front-end work of your business is already achieved. However, I know of only one company that does this.

2. Next, make sure this company is debt-free, reputable, and has a proven business model.

This company should have no start-up costs, no hidden fees, and be free to join. You want to avoid a business that starts strong and disappoints later, and instead opt for one that provides ongoing residual income for life. Talk to someone who is already working this business and see how it has worked for him or her.

3. Then, make sure you have the proper environment to work your business from home.

Align yourself with a company that will simply require an internet connection and a phone, and will allow you to be mobile, so you can take your home-based business anywhere you want to go. This company should do all of the back-end work for you as well by supplying you with your own free website and an easy to use back office on your laptop. They should be shipping the product to each customer, and supplying them with catalogs, e-mail alerts, monthly magazines and catalogs, and toll-free telephone customer support, all at no cost to you or the customer. Align yourself with a company that is willing to do all of this heavy lifting for you at no charge that normally weighs others down in their home-based businesses.

4. Next, stick to a budget by duplicating what someone else has already done to become successful in this business.

Resist temptation to reinvent the wheel which could result in needless spending. A great company has affiliates who have already figured out how to bring your business to the next level without spending needlessly, so just follow their lead.

5. Finally, make sure you are motivated to be in business for yourself in a home-based business.

Expect guidance from others, and duplicate what they have already done to be successful, but realize that the bottom line is YOU. If you treat a home-based business like a hobby, it will pay you like a hobby; and if you treat it like a business, it will pay you like a business. Treat it with the commitment and dedication it deserves and it will pay you back many times over.

How do I know this works? I have proven to myself that it does.

The successful interior design business I owned and operated for eleven years took a hard hit when our economy started to fail a few years ago because people no longer had the disposable income they once had. Let’s face it, custom design is neither inexpensive nor a necessity, so I have seen a lot of interior design studios go out of business during this tough economy. I had the choice of either reinventing myself in a home-based business, or go to work for someone else. Being my own boss has rather spoiled me, so I did not want to change that by working for someone else. Why make someone else successful when I could build something for myself?

So, almost three years ago, I aligned myself with a company to start another stream of income. This business is exactly what I described in the five detailed points above as what you should look for in a home-based business. I duplicated what someone else was already doing with the company, so naturally, it worked for me as well. I want to reach out to others to help them to build a successful home-based business of their own, by avoiding the common mistakes people often make. People who are already aligned with this company include individuals with corporate jobs, business owners, parents raising children at home, wellness professionals and students, retired persons, and individuals who simply desire an extra stream of income. There is no better time than in today’s tough economy to start your own proven home-based business by acquiring buying customers, and do it in a way where you will find optimal success.

Differences in the Types of Auctions That Take Place Around the World

Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

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Five Tips for Selling at Live Auctions

Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.

People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!

Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.

Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.

Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.

After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.

Tip 2: Be sure you clearly understand the terms and policies of the auction house.

Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.

Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.

Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.

Tip 3: Make sure the auctioneer knows what you’re selling.

It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.

Tip 4: Present your items neatly.

No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.

There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.

While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.

Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.

The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.

Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.

If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.

Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!

The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.

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