There are a multitude of home based business opportunities and finding the one that works for you is crucial if you are striving for a work/life balance or simply want to be your own boss. A multi level marketing (MLM) business is one of the viable opportunities for a home based business. Making an MLM business work for you as a home based business requires proper planning and research.If you are looking for a get rich quick scheme this is not it. If you are willing to put in time and effort to make your business work, this is one of the ways to go. There are many MLM business opportunities on the internet. Some are scams and some are viable money making opportunities if you are willing to put forth the effort.To make this a viable money making business requires first finding a company to work with that has good products and services and one that has been around for many years and is not a “fly-by-night” company.To succeed in a MLM business requires several steps, some of which are discussed below.1. RecruitmentThis is very important because MLM businesses involve network marketing and made up of downlines and uplines. Uplines are those who recruited you and others whereas downloads are the people that you recruit. Those recruited including you will sell the company’s products and services and well as the business model to others.Commissions are made on the sales or purchases made by others. If you have a significant downline making sales and purchases, your income potential will be immense. To put it simply, you can only succeed if your downline if successful which means that you need to properly manage your team or downline to keep them active and motivated.Uplines and downlines must work together towards a common goal of success. Without the upline or downline, your MLM business will become fruitless and will not function properly.If your do not work to increase your network or downline, you will have no income and shall become ineffective in your MLM home based business. There shall be no marketing of goods and services and no one handling customer needs and desires which will lead to no consumptions of the company’s products and services.2. Maintaining Minimum SalesIf the company provides good products and services, you and your downline should not have a problem marketing the products and services to others. Keep up with the sales and purchases and related expenses on a daily basis to determine whether your business is progressing the way that you want it to.3. Training DownlineReputable MLM companies should provide the tools that you need to enable you to train your downline to become more effective representatives of the company. Since this is network marketing, relationship building is crucial to success. You and your downline need to have the same vision. Effectively training your downline may be the difference between success and failure. In addition, the MLM company should provide tools to help you become more effective in your efforts that you put into the MLM home based business.
How to Succeed in a “Home Based Business” and Still Be a Mom
Stay at home moms (and dads) are often looking for ways to earn some extra money. The one thing keeping a lot of parents back is that they want to be at home with their children. An online home based business is the perfect business. This type of business allows you to stay home and be with your family. It gives you the freedom to work at a time that is convenient for you. All you need is a computer and an internet connection.Most people are afraid to start their own business. People are afraid to fail, but if you never try you can’t succeed. With the right amount of training and a great marketing system, an online home based business can give you back your freedom; both financially and mentally. It feels good to be your own boss and run your own company. A home based business doesn’t tie you down; it gives you freedom to do what you want, when you want and where you want. An online home based business can be managed anywhere around the world, as long as you have an internet connection.With the right kind of online home based business, you can also raise money for schools, charities or your place of worship. You can live a healthier lifestyle with a green home based business. Teach your children how to be eco-conscious. Show them by example. It is not just the food that they eat, but it is also the home they live in. You can start by changing your cleaning supplies to a more eco-friendly one. Just like your children started with baby steps before they walked, so can you by taking baby steps and slowly change your cleaning products. If everyone started to make small changes just think of the impact it would have on our planet.When you begin to look for an online home based business, do your homework so that you can be successful. Check out the product and make sure that it is one that you like or love. Does the product appeal to everyone or just one type of person? Can the business be easily duplicated? Does the home based business have a great support system and an amazing marketing system already in place? What about their management team? These are just a few questions you need to ask and find the answers.
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.