Four Tips For Selecting the Best Online Home Based Business Opportunity

Online home based business opportunities can be a little puzzling if you are a newbie attempting to figure out the best one for you. You need good experience in this field for making the best decision. There are many business ideas provided on the internet through which you can make good money. There are certain tips that will help you greatly in choosing the right online business opportunity. Below mentioned are the four important tips for choosing the best online business opportunity.Try to select a proven techniqueYou can go for the established techniques so that you do not have to face the issues associated to establishing the opportunity and then making it viable. Even if you are getting a lot of valuable advices, the final choice must be yours. If you are relying on your instincts, the chances of getting into a great business idea can be low, but the confidence level can be high and so is the motivation factor. Thinking logically can be a little tedious particularly for the fresher’s. Nobody can have a perfect understanding about what works the best for you other than you.Motivation and talentWhatever be the opportunity you are working at, the most crucial of the factors that can make a difference are motivation and abilities. You should be the one who decides the future of your business. If you have a great level of motivation, you will overcome all the problems you have to deal with. When you have the ability to perform the business, there is no doubt that you can be a success.Online businesses are learning processesYou must have a curious mind in understanding the numerous aspects of business. Always try to gain more knowledge regarding the various home based online business opportunities. You should explore the ways through which you can endorse your business too. Article marketing and blog posts are seen as the best techniques for marketing the business recently. Forum posts can also be used for marketing the business.Concentrating on a narrow nicheIf you are opting a narrow niche as an online home based business opportunity, you can avail great benefits. The focus must be on increasing the brand image. Focusing on the narrow areas will make you an expert in that area. If the potential clients start seeing you as the specialist of that niche, you will start getting good business from them. This will get you good name if you are offering good quality work.Always try to select the opportunity that suits you the most. Particularly when you are trying to make it a home based business, you should choose the ones that go along with the daily activities. You must be able to do this from your house with ease. Small niches are always great as you need not have to focus on wider areas that will be impossible for you in the starting. So keep these tips in mind while selecting the online home based businesses.

A Home Based Business Should Be Recession Proof!

In 2007 I started my own home based mortgage broking business. I have always worked in financial institutions and the idea of helping people buy their dream home always appealed to me so I started a finance and mortgage broking business part-time right out of my home in Melbourne. It didn’t do too badly either, despite my only customers being friends or family. By 2008, I had built up quite a good little referral source and had a steady flow of customers that could see me going full-time. Little did I know that a catastrophic event would soon see the end of my business and crush my dreams. I am, of course, talking about the Global Financial Crisis. Literally overnight, multi-billion dollar financial corporations collapsed, so what chance did my little mortgage business have? As consumers pulled out of the property and share market, and buyer’s confidence with small mortgage broking firms diminished, my business dried up and I soon learned a very valuable lesson.A home based business should be RECESSION PROOF!So soon after the GFC, consumers are still struggling to make ends meet. People are cutting back on the “luxuries” that are herbs, make-up, fancy appliances, self help seminars etc. If you are looking at a home based business that sells a product, ask yourself 3 questions.1. Is the product used everyday by everyone?2. Is the product a necessity – something people can’t live without?3. Does the product have to be purchased over and over again?If the answer to those 3 questions is YES, then you are onto a winner. If any of the questions are no, I would keep looking for another business.

Your Home Based Business – 3 Simple Principles for Success

To quit the rat race and make money in your own home based business is one of the fondest dreams of millions of people.But is it really possible to run a real legitimate business from your own home? Can you make money by working out of your own home?It is a fact that home based businesses are one of the fastest growing forms of enterprise around the world today. As employment opportunities continue to shrink, lay-offs and redundancies being the order of the day coupled with the high cost of starting a traditional business, more and more people are turning to home based businesses.Indeed, there are those who have become millionaires working from home, and many more are earning more than they would get at a job.In this report, we look at three principles when running a business from home, no matter where you live. Remember your home based business is a business and should be regarded with the same level of seriousness that you would any other business or at your job.1. Be CommittedOne of the things people like about working at home is the allure for time freedom. Whereas that is true, the fact is that you require total commitment to be successful at your business.As with any other business, your work from home business will demand your time and effort. Granted, it will eliminate commuting time, but you must have the discipline to work and resist the temptation to do other things that waste your time.2. Be ProfessionalWorking at home is not an excuse to be slack. Your business is a serious venture and not a casual fling. It will take planning your activities, organizing your work, keeping good financial records and maintaining business ethics.Continuous learning about your business coupled with personal development are critical for your personal and business growth.3. Go GlobalThe Internet has made it easy to run a home based global business from any part of the world. The nature of most home based businesses do not limit the market for their products and services to the local domicile.Going global increases your market and provides you with the opportunity to earn much more. It also means that your business does not close shop, day or night and you should be prepared for this reality.Your home based business will provide you with new challenges that help you grow and develop, both as a person and as a professional. It will be possible for you to achieve your desire for time and financial freedom, but you must also stay committed and be in it for the long haul.

The Ultimate Guide to Home Based Business Success

There are literally thousands of people who attempt to start a home based business each month. Some of them concentrate on direct sales, signing up for companies like Avon, Tupperware, Mary Kay, or Thirty-One Gifts. Others decide to market their handmade products online at sites like Etsy. The majority of people focus on setting up an Internet empire with a web-based business plan that is meant to take them to complete passive income. Unfortunately, only a tiny percentage of those who embark on this journey succeed. Why? These few individuals are the only ones who know exactly what it takes to reach home based business success.Success is not just a matter of luck. In fact, anyone can accomplish home based business success if they have the right tools and best strategies backing them up. Do you want to know the secrets? Of course you do! Here is what it really takes to reach the home based business success that you desire.First, you need to have a great product or service to sell. You can’t just create a website and expect to make a million dollars overnight. Your website needs to have a purpose, a direction, and an ultimate goal. If your goal is affiliate marketing, you need a niche to direct your content topics. If your goal is sales, you need to have amazing products. If your purpose is to get people interested in your services, you have to be prepared with a truly great service to offer.Second, you have to be committed to do the work. If you want home based business success, be prepared to work hard to achieve it. You will need to invest hours in developing your new business. You will have to create a website, develop a marketing strategy, and then market your business while you maintain it. This means you have plenty of work ahead of you! The good news is that if you stick with it, you will enjoy the home based business success that very few people ever actually achieve.Third, you need a good dose of creativity. The most successful business professionals know how to think outside of the box. How can you make your business stand out from the competition? How can you make sure that people gravitate towards your products rather than someone else’s? What makes your business truly extraordinary? These are questions you must explore if you want to be truly successful.Finally, you should have an iron will and a heavy dose of patience. Success takes time, especially if you are an entrepreneur starting your business from scratch. Whether you are working in direct sales, affiliate marketing, or direct product manufacturing, your home based business success will depend on your staying power. Will you stick with it as long as it takes? Will you ride out the waves when adversity strikes or will you quit? Perseverance is the ultimate key if you want to be among the few elite and successful people in the business world.

What Is the Easiest Accounting Software to Use for Small Businesses?

IntroductionWhat is accounting software?To track the financial process, the business owners or individuals use the accounting software to record and report income and expenses.This is more effective and never drives grave mistakes with automation, especially for small businesses.Why do small businesses prefer accounting software?The majority of small business owners may not be much aware of accounting or finance management. So they prefer this software to manage their financial data.The software helps to reconcile data, generate receipts, and integrate with the financial data.So they don’t have to bother about the business account to balance.Moreover, it saves time and money and improves productivity and performance through the transparency of financial data.How do you choose better Accounting Software for Small businesses?Searching for the right accounting software for your business is a daunting task.Software designed for one business could not be suitable for another.It depends on the enterprise’s size, the income flow, level of experience of the accountants, and the company budget.If you are willing to choose any accounting software, it is always advisable to thoroughly examine some of the features before selecting one.Here are some of the best accounting software, distinguishing itself with outstanding features and functionalities and specially designed for small businesses.Intuit QuickBooks: Best OverallQuickBooks is an accounting software released by Intuit.It has a separate desktop version you can buy and install, and in 2019, they released the cloud-based system.Millions of businesses use QuickBooks accounting because it designs for small and medium-sized enterprises.It is very user-friendly, and business owners prefer this because they can handle this easily even though they don’t have accounting experience.While coming to the price, it is very reasonable.Features of QuickBooks Accounting contain:
With user guides and tax data export, it helps to file quarterly and annual tax returns.

Financial institution integration.

Sales tax calculations and reported tax payments.

Sort sales and expenses into tax groups automatically.

Scanned receipts are attached to the invoices.

Generate customized reports with cash flow.
QuickBooks Accounting offers a reasonable price:
Simple Start: $10 per month for business beginners.

Essentials: $17.50 per month for maintaining and expanding businesses

Plus: $25 per month to help more established and manages projects, inventory.
Sage Business Cloud Accounting: Best for Multiple UsersSage Business Cloud Accounting is a global label that provides online accounting for small businesses.It designs for small businesses, which established in 1981 in Newcastle, England.It lets you select your industry, company scale, and requirements. Over three million businesses use it.Without any accounting knowledge, users can use this and can set it up for multiple users.The main features contain:
Manage business accounting and cash flow.

Generate and share invoices.

Available on all devices so that you can access it from anywhere.

Auto entry and synchronization.

Integration with your business institution and other apps.

User-friendly dashboard and tax compliance tools.

Forecast cash flow and inventory management.

Collaboration with your accountant on any device.
Pricing of Sage Business Cloud accounting as follows:
Accounting Start: $10 per month for start-level financing to help manage cash flow.

Accounting: $25 per month for excellent cloud accounting with invoicing, cash flow management, and actual entries.
They currently offer a 50% discount for three months and a free trial for 30 days.Xero: Popular with best featuresXero is a web-based accounting software developed for small and expanding businesses.Small business owners and accountants prefer Xero, which established in New Zealand in 2006.Without any accounting knowledge, you can easily set and use this software.It is popular with its easy-to-use dashboard and can collaborate with multiple users simultaneously.Small business owners choose this because of the features and ease of use.Its two-step authentication keeps your data secure and a very reasonable rate for each plan which you choose.The main features contain:
Generate and send invoices and create an account claim.

Integration with your business institution and other apps, including HubSpot, Square.

Quick bank reconciliation.

Active financial reports.

Secured financial data.

Collaboration with multiple accountants.
Pricing for Xero is as follows:
Early: $5.50 per month, send 20 invoices, enter five bills, reconcile bank statements, and capture bills and receipts.

Growing: $16 per month, send invoices and quotes, enter bills, reconcile bank statements, and capture bills and receipts.

Established: $31 per month, includes all Growing tier features plus multi-currencies, expenses, and projects.

Every plan comes with a free 30-day trial for unlimited users.
Zoho Books: Best in automationZoho was established in 1996 in India and had a corporate office in California.Its accounting software, Zoho Books for small businesses, has outstanding features which lest you monitor your finance generate invoices and collaborate with users in real-time, and many more.Zoho includes multiples products for customer relationship management (CRM), human resource management, and inventory control.Small business owners incline to Zoho books for automation, bank reconciliation, invoicing, and more.The app integration allows you to integrate with other software which you already use.It also provides a payroll solution for companies in India.The main features contain:
Tax compliance and financial reports.

Sales management and invoicing.

Bank reconciliation.

Client portal.

Reports and records.

Automatic tax calculations.
Pricing for Zoho Books as follows:
Free: Includes up to 3 users, 1000 invoices per year, and 1000 bills per year with basic features.

Standard: ? 499/month billed annually and included up to 3 users, 5000 invoices per year, and 5000 bills per year and includes everything in free plus extra features.

Professional: ? 999/month billed annually and included up to 4 users, 10,000 invoices per year, and 10,000 bills per year and includes everything in standard plus extra features.

Premium: ? 2999/month billed annually and included up to 7 users, 25,000 invoices per year, and 25,000 bills per year and includes everything in professional plus extra features.

Elite: ? 4999/month billed annually and included up to 15 users, 100,000 invoices per year, and 100,000 bills per year and includes everything in premium plus extra features with ‘Advanced Inventory Control’.

Ultimate: ? 7999//month billed annually and included up to 15 users, 100,000 invoices per year, and 100,000 bills per year and includes everything in Elite plus extra features with ‘Dedicated Account Manager’.
ConclusionYour accounting experience doesn’t matter; any of these easy small business accounting software options will let you manage your business’s accounting and balance the books efficiently.Conclusively, the decision will depend on your budget and the features and functionality that your company needs.

Home Based Business Ideas: Energy Efficient Products and Services

Have you ever taken a look at a home based business in the network marketing or direct sales sector? If the answer is yes, that’s fantastic; you have an idea of what network marketing is all about. The awesome thing about a home based business idea in network marketing is that the cost to start your business and buy into a proven system is minimal. Most home based business ideas in the network marketing sector are pretty much under $1000.00 and most are $500 or less. Now we come to the success rate of people who start businesses in the network marketing sector for under $1000. What I have noticed is that when you have not mortgaged your home and entered into a major contract with another company somehow the urgency of owning the home based business and the drive to succeed seem to diminish. Before we ever get into the various products and services available in the network marketing sector in today’s climate we have to discuss the psyche of the person wanting the freedom they are requesting. I have spoken to so many people who start out with a bang and kind of loose their gusto in 3-5 weeks. Sometimes people will last for about 4-6 months then the fire diminishes. Why is that? Well, I know one thing, if I had 50k or more invested into a home based business idea it would not take 4-6 months before I throw my life savings away. Although, since many network marketing business are under $1000, most people don’t have enough on the line to take their network marketing home based business ideas seriously enough to succeed. Let’s assume you have the drive to move past that 4-6 month mark. This seems to be the mark where unsuccessful people stop and successful people continue to push forward. Now you have to decipher if you are in the right business model for optimal success.

Most network marketing companies have traditionally been in the cosmetic, weight loss and health and wellness sectors. In recent history (the last 15 years) there has also been a big surge of technology home based business ideas also such as cell phone businesses, satellite home based business, Wi-Fi home based businesses and others. Even more recently, in the last five years to be exact, there has been a huge push in the energy efficient products and services industry.

I get excited when I think about the history already made by the first two residential energy companies to offer their services to consumers by way of the network marketing home based business model. According to Jim Melloan, project manager of the Inc. 500/5000 project Stream Energy grossed $848,000,000.00 for the year 2009. This company was founded in 2004 and officially started doing business in March of 2005 in Texas. Home based business owners are able to start a business with this company for less than $500 and are able to refer their friends and family to save money on their electricity and/or gas bills. They later expanded to Georgia in 2008 and are now expanding to Pennsylvania.

Next we have another notable company named Ambit Energy, founded in Texas in 2006; it followed Ignite’s footsteps offering the home based business idea for less than $500 in the Texas market. It soon expanded to New York in 2007 and Illinois in 2008. I know because I was part of the excitement! In 2009 the company had a record 20,369.4 percent growth with revenue at $325,000,000.00! So with these numbers in the home based business/network marketing sector you would assume there are some winners that are just like you and I, who are making a percentage of that success right? Of course there are and I witnessed this happen first hand. For under $500 in both companies, multi-millionaires were created! There are several thousandaires and many people who have found an additional income that has saved them from foreclosure, replaced car payments, paid for their children’s educations and much more!

So far I have discussed two companies with astounding numbers reported that concentrate on doing one thing, saving the average family money on their electricity bill. There’s another trend happening in the energy business. A new company called America Approved Energy Services Direct., LLC has emerged offering a home based business in the same space but with a few tweaks! For one, America Approved Energy Services Direct., LLC aka AMA Nation was founded in October 2009. Peter Jensen, Robert Gries and Scott Turner came together to offer a home based business opportunity in the network marketing sector with the product once again being residential electricity. AMA Nation started out in Connecticut, and then soon expanded to New York City. Over the last year they have have a lot more territory than the first two. Currently, America Approved Energy Services Direct., LLC is the marketing arm for several suppliers which allows them to provide this home based business idea in 8 states for opportunity seekers wishing to concentrate on the residential market which include NY, NJ, CT, MA, RI, PA, MD and TX (soon to be 9 with IL)! So with the astounding numbers posted by Ignite and Ambit in only two and three states respectively, AMA Nation will certainly shock the industry with their three-year numbers. Now here’s another shocker, by July of 2010 America Approved Energy Services Direct., LLC has also allowed their home based business opportunity seekers to acquire business in the commercial sector of energy deregulation as well. Opportunity seekers looking for home based business ideas are also able to do business in 15 states on the large commercial side of energy deregulation. So when it comes to energy deregulation, America Approved Energy Services Direct., LLC now has the largest footprint in the industry. By August of 2010, America Approved Energy Services Direct., LLC also added over 200 energy efficient products and services to its repertoire allowing home based business owners to also make money in other emerging markets such as solar panels, Led Lighting retrofits and much more. The most impressive factor in all of this is that you have the income potential of a major franchise in a network marketing business model for less than $225. So many people are recouping their initial investment within the first week of being self-employed in the energy business.

My team and I have been getting many ideas about how to build our business from local news happening around the world! For instance, the article titled All Agua Fria high schools will have solar panels written by AZ Central.com on 16, 2011 at 07:30 PM gave us the idea to start calling the schools our children attend to discuss the energy saving options and grants available. Another article written by LehighValleyLive.com discussed how IKEA Aims to Extend Solar Power Trend to Costa Mesa which gave us the idea to start going after department stores and restaurants in the California area. So with AMA Nation, my team of independent home based business owners and I have found this business model to be much more lucrative because we are able to tap into the entire energy efficient products and services industry.

The Definition of Advertising Media and Why It’s Important

The definition of advertising is as follows: The activity or profession of producing advertisements for commercial products or services.

Consumers receive about 5,000 marketing messages each day, many of them in the form of advertising. Advertising is the most visible form of no personal promotion and the most effective for many firms. One of the most effective advertising is interpersonal networking. The definition of advertising takes on many forms and there are many methods that we will discuss in minimum detail to explain why it is important to any business.

Advertising Media-Marketers must choose how to allocate their advertising budgets among various types of media such as

· Television-Television is still one of Americas leading national advertising media.

· Newspapers-Daily and weekly newspapers continue to dominate local advertising.

· Radio-Despite the proliferation of other media, the average U.S. household owns five radios.

· Magazines-Magazines include consumer publications and business trade journals.

· Direct Mail-The average U.S. household receives about 550 pieces of direct mail each year, including 100 catalogs.

· Outdoor advertising-Outdoor advertising accounts for nearly 7 billion dollars in advertising expenditures.

· Internet Advertising-Marketing experts reported that sales from online advertising have surpassed 20 billion dollars per year and could soon surpass 50 billion.

· Sponsorship-One of the hottest trends in promotion offers marketers the ability to integrate several elements of the promotional mix. Sponsorship involves providing funds for a sporting or cultural event in exchange for a direct association with the event.

As consumers filter out familiar advertising messages, marketers look for novel ways to catch their attention. In addition to the major media, firms promote through many other vehicles such as infomercials and specialized media. Advertisers use just about any medium they can find, as the market is ever-changing and must keep up with the latest techniques. Google is looking for ways to combine the targeting capabilities of internet advertising and the richness of the television medium. Direct advertising with the accountability of the internet, with the emotion of television is the next big trend to stay up with. Advertising expenditures vary among industries, companies, and media.

As you can see, the definition of media advertising has many avenues of approach. It is one of the most effective types of advertising, surpassing sales promotion, trade oriented promotions, games, contests, sweepstakes, and many other techniques. This is where all the money is made and invested, from the small business owner to multi-billion dollar companies.

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?

Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.

HOW PENNY AUCTIONS WORK!

The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.

HOW TO WIN!

Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.

HOW TO AVOID SCAM SITES!

Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.

CONCLUSION!

New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming 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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