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Home-Based Business Opportunity Seeker- Learning What Not to DO as You Seek Business Opportunities

Like a moment captured in time, I remember leaving work on my 25th birthday, heading for the train to whisk me to my sanctuary: my home base. En route towards the subway station, I peered at all the magazines in a newsstand. After a long, exhausting, anxiety-provoking day, I decided to take a few moments, gather myself, collect my composure, and read – one of my favorite diversions.

My eye immediately caught sight of a plethora of money-making, small business, and home-based business opportunity magazines. They beckoned me closer, promising that I, too, could escape the rat race if I followed the secret blueprints included within the magazines’ contents. Moreover, according to so many magazine authors, the transformation from workplace peon to entrepreneurial magnate could readily occur without too much work and at breathtaking speed.

I never envisioned that I was a home-based business opportunity seeker. But perhaps it was fate (in my 20′s, I believed that fate was responsible for everything!) that led me to these myriad opportunities, guiding me in a direction away from Corporate America to my favorite place in the world, my home.

The thought of working at home, serving as my own boss, was tantamount to winning a lottery – freedom from demanding bosses, gossipy coworkers, long commutes, capped salaries, etc. I was going to do everything in my power so that I could head towards the seemingly greener pastures of self-employment. With inexhaustible determination, I was going to empower myself — to become my own boss, to pull my own strings. This was the birthday present that I was going to give myself!

Toward this end, I stayed up all night reading the five business opportunity magazines that I had purchased at the newsstand. There were so many home-based business opportunities to explore. The people who were disclosing the secrets of their success seemed so earnest and caring, so intelligent, perceptive and friendly. Surely they wanted the reader to join them in the good life. (Interestingly, it seemed as though every picture of such people revealed wealth beyond measure. Mansions, expensive cars, awe-inspiring surrounding landscape were staples of each image. And the smiling countenance of all connected me to the “benefactors.”)

If financial constraints were not a problem at the time, I would have purchased all the programs offered in all the magazines I had read. Still, I narrowed my selection down and purchased 10 of the deemed best home-based business opportunities available. $300 was a small price to pay for one’s freedom.

With credit card in hand, I called each company making small talk with each representative, wondering why they had not simply taken advantage of the wisdom provided by the information that was so accessible to them. Perhaps it was fine to work for someone – as long as the boss was not just a cog in a corporate wheel, but a truly inspirational and creative entrepreneur.

Nevertheless, my entrepreneurial path was already set and I would soon graduate from mere home-based business opportunity seeker to home-based business opportunity doer. Of course, I needed the coveted blueprints from my prudent purchases but they were due to arrive within a week. I could hardly wait!

Anticipatory excitement reached a feverish pitch and I remember racing to my room to open the first business opportunity package that was delivered. But in the mere course of 15 minutes, I knew that this program did not come with an accompanying blueprint for success. It seemed incomplete, poorly written and organized, and merely rehashed the benefits of multi-level marketing (MLM) – something that I had been exposed to (reluctantly) when I was in college. I was to promote their product, gaining direct commission, and then benefit from those I had signed under me when their promotion efforts were rewarded.

Feeling deflated and defeated, I subsequently compared the ad with the actual program. I thought if they invested half as much time to create a viable program as the creation of this clever ad, I might have found a means to an end: finding the Shangri-La of self-employment. Still, when I read the ad closer, it appeared that the purveyor of the program never indicated what the program entailed! The ad only pointed out what was not entailed.

The nine other packages followed suit – all providing useless information that would not propel me towards entrepreneurship. Upon reflection, closely examining the ads, the purveyors misled the reader, dissembled motives, embellished the potential profit, negated the work involved, etc. I suppose I received a $300 education as to how NOT to become your own boss. Actually, some of the companies honored their money back guarantee, so my cost was not as high. Still, I believed that the road to an entrepreneurial venture could be uncovered.

Years have passed and through the benefit of business and life experience, I can now offer the following important points to home-based opportunity seekers:

It is unreasonable to expect earning a considerable sum of money in a short duration of time. Yes, others have accomplished this feat but it is certainly the exception and not the rule. It takes time to build a business, including a home-based business.
It is similarly illogical for you to expect that hard work will not be a prerequisite for business success to be attained. There are many business owners who delegate responsibilities but not typically at the beginning stages of their business. I have heard many entrepreneurs mention that at the inception of their business, they worked 50-60 hours per week and longer. The “work smart and not hard” principle is not always easy to apply.
While the lure of an Internet home-based business is seductive, there is much competition. Be realistic in your goals but aspire towards greatness. You can succeed but understand the underpinnings of your business. You may have to learn about or contract with those with expertise in web design, shopping carts, gateways, merchant accounts, search engine optimization, marketing, etc. As your knowledge base grows about your field and about the online world of business in general, you will prosper.
The ability to market and even advertise your business rank among the most important factors to its long-term survival. Regardless of how great your product or service is, it is meaningless if potential customers do not know you exist. Realize that you have to gain marketing prowess for your business to flourish or be willing to pay someone who possesses marketing skill. You need to consider free and paid advertising sources as well.
As you assume the role of home-based business opportunity seeker, consider what type of business you want to own. Do you want to pursue multi-level marketing projects? Would you rather participate in drop shipping programs or affiliate marketing programs? Perhaps you can create your own product or offer a particular service. As you consider the all-important direction that you want to take, factor in your interests, hobbies, passion, experience, aptitude and even potential.
Reach out and find people that you trust where you can bounce ideas off each other. Certain business forums offer a wealth of information. Many members truly want to contribute, ensuring the success of others. You can even visit your local SCORE office – an organization designed to help new business owners, free of charge.
Do not believe everything that you read and embrace the “If it is too good to be true, it probably is” truism. Be wary of business opportunities that require an investment, do not have a money back guarantee, are vague with their business description, etc. You should know all parameters of a potential business. Let common sense prevail.
You don’t necessarily need to buy a designed program or follow in anyone else’s footsteps. We tell children to “Use your imagination.” We should follow suit.
As you engage in the research and preparation of the business, promise yourself that you will not forever remain a home-based business opportunity seeker. You will take action when the time is right! Indeed, success will never materialize if you remain on the complex and convoluted home-based business opportunities fence. Eventually, choose a direction and never look back!

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.

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Discover How To Generate Leads For Your Home Based Business

Importance of Leads in a Home Based BusinessSetting up your home based business is just one half of the challenge. Marketing your business is the harder second half of this endeavor. The main purpose of marketing is to generate leads for home based business such that you can establish your customer base and also ensure that you can get repeat sales from your loyal customer base. Without leads, you cannot generate sales nor have the opportunity to promote your products or services to prospects.Needless to say, it is a stepping stone towards more business success. But what is an effective way of lead generation online? You must take time to learn about traditional and modern techniques for gathering leads for home based business that will allow it to flourish.Traditional Methods To Generate LeadsThe traditional method of lead generation is a bit time consuming and requires a lot of effort on your part. You can visit prospects door-to-door or make phone calls wherein you can speak to various individuals and share information about your products or services. Aside from time and effort, you must also expect to spend some money with this approach since you will be traveling most of the time. While this method used To be effective, you must employ a variety of lead generation techniques, in addition to conventional warm market prospecting, as it no longer is today as effective as it once was, since traditional methods of sales promotion are averted by most people these days. You can therefore consider using a more conventional approach to marketing that will get more response from your target market.Leverage Lead Generation This is another tool used by network marketers for promoting their home based business. You can research any lead generation system, and learn how to create a list of leads. Hence, you need to invest some amount of money to be able to gather the information you want. This is convenient since you no longer have to do the list gathering manually by yourself and will save you lots of time. The benefit with this approach is that the leads list you generate are targeted and while all of the people on that list might not be interested in your business, most will be in a valuable training or tool from you. Ideally, you have additional services to offer people that may say no to your opportunity, like training on how to generate leads or marketing systems and expertise.Set Up Marketing Online The above two methods for generating leads for home based business are proven techniques that work when used in the earlier years of the MLM industry. However, times have changed and the best way to guarantee you can get maximum results from your marketing effort is to establish your own marketing system online, with a sales funnel and many sources of leads.You can set up your own blog or website wherein you will be offering valuable content and training, and use it as a main medium for launching your marketing promotions for your business. This is an effective way to gain popularity and generate lots of traffic while branding yourself as a leader. Within a short period of time, given that you use the right article marketing strategies and search engine optimization techniques and strategies, the leads will come. You must also take note about the expenses involved with online marketing promotion, especially if you are not using free strategies like article marketing, video marketing, and social media. Another technique that you can use to generate mlm leads for home based business is e-mail marketing. The latter is far more targeted and is capable of delivering more responses from your customers, using e zines, and other peoples lists.