To Start a Home Based Business does not mean that a person cannot have the official work environment and the fancy paper work, and that it is not a legal business. A home business is an easy way to start making money. The best thing about the home business is that the investment it demands is typically small and easy to handle, also it can be easily managed through simple ways. Anything involving the exchange of goods and money is business, start a home business if you think you can provide something people will buy.There are a few things that can help the business flounder from the start. First things first, the person starting the home business must have a clear idea of what the people want to buy and what he/she can offer, only then can a business prosper. Analyzing the market before jumping right in the middle of it can prove very useful and can save lots of time and money.Advertising is very important in business. Internet is the best platform to advertise, it is free, easy, and everyone uses it. One of the basic needs is to create a website or an online account where people can look at the products available from the creator. Promoting a website is not an easy job, one starts from telling their friends and family and goes as far as paying successful bloggers to promote their websites and other SEO methods. Once out in the open market,quality control and an active mind is necessary to keep the business afloat. Using one’s hobbies to help in the business might be a good idea.Online home business is not always about physical (hardware) goods.There are a lot of people providing tips and advices to people in their respective fields of life. Suppose if someone can play a musical instrument really well, they can teach stuff online and charge their visitors with membership fee etc. if someone is good at giving people psychological advice then they can start a home business about that,the things that matter are being professional, skilled, authentic and legitimate. People do not pay for copied stuff and even the slightest mistakes may turn down a whole business. In this type of work, the person may also need an assistant or an advisor who can share the work load or provide answers to what the publisher him/herself cannot answer. This can be a very healthy practice.If the person wishes to start a home business selling physical goods then hiring the services of a drop shipper becomes almost necessary. A drop shipper may store your products in their inventory and provide them to customers at the designated time. A customer logs on to the website and places their order. The attendant at the website would then have to inform the drop shipper of the customer’s details(address, contact etc.) and the drop shipper would transport the product, very simple. A home business may be one of the easiest ways to start making money also establishes a firm understanding and work experience of the market.

You’ve asked yourself this question for the thousandth time. You’ve heard all the hype and skeptically turned your head away from the opportunity, only to find yourself attracted to it once again. You’ve seen the advertisements and laughed at the idea, but somewhere deep inside you wonder if it’s really possible.The question keeps coming back…Is it crazy starting a home-based business?With all the negative misconceptions surrounding home-based businesses, I feel it is important for you to understand the main reasons people start a home-based business in the first place. The purpose of this post is not to sell you on any one business opportunity or to convince you to even start your own business.The purpose is to help understand the mind-set of individuals who seek to create a different future for them self and/or their family. Perhaps you landed on this article, because you are looking for a better way to secure your future.Maybe you have already convinced yourself to start a home-based business, but are skeptical that you even have what it takes to succeed in your own business. Whatever your purpose may have been that found you reading this post, I hope you take away a fuller understanding of what led you to the world of entrepreneurship.It is well known that a home-based business is not everyone’s cup of tea. So, why do so many even venture into this career path?1. Dissatisfied With Current EmploymentHow many of you have walked into your place of employment bright and early on Monday morning and said to yourself, “I can’t wait for Friday afternoon to come!”? I can safely assume that the majority of you right now are raising your hand in your mind.There is no shame in feeling this way. Most of us live for our weekends, when we can relax with our families and get tasks completed from our to-do lists. We can sleep in past 6:00am and go to bed later than 9:00pm.Weekends = Freedom.Now, many are perfectly content with staying in their current 9:00-5:00 job. This is okay, because this equates to familiarity and stability for so many.For others, however, they are dissatisfied with their job and with the restrictiveness of its expectations. They are tired of missing birthdays and holidays, vacations with the family. We spend more time with our co-workers during the day than we do with our own family and friends.Activities and events are all planned around our work schedules and, many times, it is easier to just cancel the event than to try to request the time off from work.Now, there are two types of individuals who are dissatisfied with their current employment: those that are hungry to do something about it and those that will continue punching that time card. Again, it is respectable to stay in one’s current job, because they are taking care of their responsibilities and, possibly, working hard for that next promotion.However, for those that are hungry to make a change, starting a home-based business has proven to be the answer to their problem.As a home-based business owner, you make your own schedule and you dictate the amount of time you are able to spend with your family and friends. You are afforded the luxury of time, because there is no boss to report to but yourself.2. The EconomyIt is no secret that the state of today’s economy is one of uncertainty. Property values have fallen and unemployment rates have risen. Recent college graduates struggle to find employment, after racking up thousands of dollars in student loans. More and more families have to apply for government assistance just to meet their most basic needs.We are currently in the middle of a presidential election year and what has been a significant focus of both campaigns? The economy.With the current state of the economy, more and more people are looking for ways to secure their financial future, because they are not confident in placing this in the hands of their employers and of their government.With a home-based business, many have been able to start building a financial cushion for them self and for their family and all from the comfort of their own home. This is especially suitable for those currently employed and/or have families, as they are able to grow their business part time if need be.3. Financial Freedom & SecurityWith a home-based business, the potential to earn a significant amount of money is so much greater than with a traditional job. In a regular private or government job, the only way to increase your income is to obtain a promotion or get hired in a higher paying job.With a home-based business, your efforts and commitment truly does predict the amount of money you can earn. There is no interview, there is no politics. There is simply your ability to reach the maximum amount of your target audience (your ideal consumer) and be able to attract them to your product or opportunity.The dream of financial freedom and security is realistically attainable, and more individuals are recognizing this potential within the home-based business industry. Financial freedom and security is important to many in various ways, but there is one common benefit to all: the opportunity to live the lifestyle one has always dreamed of.

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.