I have always wanted to start my own home based business. I have thought of the ways to do it and I have read all there is to know about starting it but that has always been as far as I went into business planning. Well, what can I do? I just couldn’t simply afford it. So I went and looked for home based business ideas that I can start even if I have no capital. You might want to check them out for yourselves too.1. Private TutorialYou still probably have your old books from school, or perhaps books of your kids when they were young and you have been wondering how you can actually make use of all of them. Well, it’s high time to start piling them up and have a little review for yourself.You can run a private tutorial at home for your friends’ kids or even for neighbors. With this, you won’t have to actually take up courses in the university again. Just review a little and become update regarding the latest updates on the things that kids learn at school.2. Computer Specialist or Repair ServicesYes, with this home based business, you don’t have to have capital. You only need your skills and knowledge with computers. You can start by contacting friends and their friends if they would want computer repair services. You can offer home service if they prefer.3. Making WebsitesIf you have your own computer at home and you have a reliable internet connection already, well you might want to make use of it to earn money. There is plenty of software nowadays that will help you. This is best for those that already have the knowledge and creativity.4. Music LessonsLove music? Well I’m sure you’d love it more if you get to share it and earn in return. You can start your own music lesson business by using the musical instruments that you have at home. With all the demand for training young talents nowadays, I am certain that you could get quite a number of students in no time.5. Baby SittingTaking care of little kids for busy parents is also one easy home based business that you could start. Besides being able to play with a cute little kid all day, you also get to earn by the hour. This is ideal for those who are patient enough to look after small children.6. Bookkeeping ServicesTyping jobs and other secretarial services are ideal for those that know their way in using computers. You don’t need to invest a lot of money because you don’t need a lot of supplies. A good quality computer, which most of us already have, and a set of typing paper could already be your ticket to starting your own bookkeeping business.7. Elderly CareThis is like babysitting, only that you have to take care of an elderly person. Well this is actually quite easier because you don’t get to run around much unlike with babysitting kids. You also need your patience as your capital for this and you also get to earn by the hour.8. Yard Care ServicesIf you are the Industrious type and you know how to tend a garden, then you might want to release those creative skills into running a home based yard care service. You can charge some household owners for your services like trimming their lawns or even do some minor landscaping. You get to enjoy while you earn. Isn’t that the best?9. Online TutorialYou can use a lot of things with your computer and a reliable internet connection. There also a lot of websites and online companies that are looking for online tutors. Well, this is easier for those that are more confident in speaking or having a conversation online. You get to earn per lesson that you conduct.10. Art LessonsFinally, if you see yourself as the artsy one, you might also want to share your skills and knowledge to those that are willing to learn. You can charge per lesson. And you don’t need much capital since you only a need a little art set that you already have if you have always been into creative stuff.So far, I have only these ideas that I can probably try. Coupled with will and determination, these could be your tips too in running your own home based business.
Points to Consider When Starting a Home-Based Business
If you are considering starting a home-based business, there are several points to consider to help the business run more smoothly, save money and make it successful. Planning is very important.The first thing to consider is what kind of home-based business to start. Will you be selling products or services? Will you be promoting online, offline or both? Finding the right niche and something you are passionate about is very important. If you are passionate about what you’re doing, others will sense your enthusiasm and will be attracted to you and more interested in what you have to offer. You also need to find a niche where there is demand for your products or services.The next thing to consider is where your business will be located in your home. It is important to have a space for this purpose and only this purpose. You will need enough room for a desk and any other furniture you desire. As well, if you need to keep products in your office, make sure you have room to store them. Being organized is important so that you don’t waste time. Remember, time is money.Budget is another important consideration when starting a home-based business. A monthly budget should be prepared so that over spending can be avoided. You will need to consider costs to make/purchase products, advertising costs, monthly fees for any programs you are involved with, your internet connection, office supplies, etc. Take care to remain within your budget.You also need to decide how you will advertise your home-based business. You may choose to run ads in newspapers or solo ads in online ezines. Perhaps, you will choose to run a Google AdWords campaign or distribute flyers. Whatever you decide, make a plan and stay within your budget.Time is the last point to consider. If you are already working outside the home, you will need to schedule time to work on your home-based business. Set a schedule that is realistic and follow it. Ensure that you build in time for your family, friends and relaxation. It is important to create a balanced life, otherwise you may burn out.So, consider these points, create a plan, and start building your own successful home-based business today.
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.