More people dream about starting a small business than they do about going to college or seeking promotion.However, owning a small business is more than just a full time job, it can become your lifestyle.The lifestyle you create depends on the small business that you create. It is important to find the best small business to start.There are two types of businesses namely the one where you have to work incredibly hard or the other where you work smart and not hard.Owing a small business can become your life if you are not careful and disciplined. For example a typical store owner can be in demand twenty four hours a day. His or her day doesn’t end when they go home or when the store closes. Even if they are fortunate enough to be able to afford sufficient staff and are able to successfully delegate, it can be difficult to find staff that you can trust. There are times when it can seem that everyone needs their attention – the staff, the customers, the reps, the family and even the mobile phone. Often business owners are seen to the outside world as being wealthy, prosperous and extremely lucky. Little do they know the hard work and effort required to succeed in a small business. There can be many sleepless nights and worry over how to pay the bills, wages and to buy new stock not to mention the responsibility for the health and safety of staff to comply with the Employment Law. There are also the issues of ensuring equal opportunities and of paying the business taxes and insurances on time on top of bank loans for the business. No wonder many small business owners have health problems due to the pressures that they face.There is however another type of small business that is less costly to set up and less stressful to run namely a home based small business. The main advantage of this type of business is that it is open to ordinary people as most small businesses can be run from any small room in a house like a study, bedroom or even a garage without incurring huge costs that other businesses and franchises incur. There are no costs for staffing, travelling or rent for the business premises. The turnover, profits and return on your investment can be as big or small as you choose. There are no limits to what you can achieve with this type of small business.Many choose to start a small business as it offers independence. Many business owners left their jobs to become their own boss as they wanted to make their own decisions, take their own risks but more importantly to reap their own rewards from their effort.There are many home based business opportunities and it is important to carry out research to establish the best small business to start. There are many internet home based opportunities now available, many of which offer the opportunity to make sales from home. There are unlimited trading possibilities with these types of small businesses due to the global market available. The overheads for these types of businesses are low as there is often only the need to own a computer and a phone. You can also work flexible hours based around your own needs because an internet business does not close down. It is open for business twenty four hours a day. You can even be earning money as you sleep!This type of small business is often an easy business to start. It can be the best home based business to start as often one to one coaching is offered to help you start a business from home.This type of business is a successful alternative to a “bricks and mortar business”. It can provide the opportunity to earn more money, work less hours and help provide more time to spend with friends and family. However as with any other small business your business success will be determined by the time and commitment you put into your business but with the right mindset and motivation it is possible to achieve great rewards both financially and on a personal level.
Differences in the Types of Auctions That Take Place Around the World
Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.
Types of Auctions:
Different types of auctions take place around the world. Below mentioned are some types of auctions:
1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.
2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.
3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.
Examples of Auctions:
Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:
1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.
2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.
3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.
4. Horse auction: Bidders can bid for young horses of the best breed.
5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.
The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:
1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction
Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.
Five Ingredients for the Best Home Based Business
The key aspect to starting the best home based business is to ensure that you are able to provide a product or service to a selected target audience, who want or need that product and service.That audience have to be willing to buy it from you and there must be sufficient numbers of customers to buy the product or service. Also, and most obvious, you need to be able to make a profit or else you have no business.The best home based business is one that is online. There has been a huge consumer shift over the past few years of people buying products and services online and this new digital economy is growing at a phenomenal rate.The five fundamental ingredients that the best home business: A Solid Business PlanThe best home based business model needs the perfect mixture of recurring income (when you sell something once and get paid every month, such as a membership website), affiliate income (when you sell items and get paid a commission) and high ticket income (products or services that you sell where you earn in excess of $1000 per sale).A List Building StrategyThis is s system that allows you to build a list of customers who are interested in your product or service. You will need an autoreponder system and something of value that you can give away to encourage people to subscribe to your list (like a free report or DVD).A Marketing FunnelThe best home based business marketing funnel follows on from you list building strategy. Once your prospects have subscribed to your list, the marketing funnel helps to build a relationship and trust so that your prospects make that all important first buying decision.Paid and Free Traffic SourcesCustomer traffic is the lifeblood to any home business and you must ensure that you have the appropriate skills to use both paid and free customer traffic that is relevant and will convert into customers.Peer Group, Mentors and MindsetIf you want to build the best home based business you are going to need help. It is important that you invest in your home business education to learn from those that have gone before you. Learning from someone who’s already successful will make a big difference to your results.The best home based business is one that does not have an expensive set up cost, has a huge audience of potential customers and allows you to offer specific and popular products without having to buy them first and hold them in stock. This form of home based business is called online affiliate marketing.Online affiliate marketing is where you, as an affiliate, sell products and services and receive a commission when they are purchased. You do not need to buy the products first. You simply locate a vendor that has a popular product (and there are many of these) and sign-up as an affiliate for that product. This does not cost you anything. You then promote the product to your list of customers via email or online or offline advertising. When a person buys the product from you, the vendor will then pay you a commission. You do not have to worry about the product fulfilment or delivery, as the vendor will do this. Also, a good vendor with a good product will supply all the necessary training and marketing materials you will need to help you sell the product.Many entrepreneurs want the best home based business as they have come to realise that relying on one salary from one job no longer provides fro a secure financial future with all current economic round of job cuts, pay freezes, fewer working hours and lower pay.The internet offers the best home based business opportunities. To put this into some perspective, the holiday season online retail spending for 2012 was a 16-percent increase over 2011. This includes November 26 (aka Cyber Monday) which became the heaviest online spending day on record at $1.4 billion. Just having a small slice of this would good for any home based business!