If you’re a beginner in the home-based business world; whether it’s online or predominantly “on the street;” you can find a million web sites that claim you can make money right away! Many “wealth gurus” say they can make you fast cash!

However, millions of home based business ideas on the internet are failing to produce their claims.

Why?

Because most home-based business ideas are usually too difficult for the beginning entrepreneur. Or, in an effort to make them simplistic, most of the benefits are in favor of the owners.

In fact, many programs are usually challenging for the intermediate and advanced Internet marketer.

You’ve heard it before… “You can make $150,000, $500,000 and even $1 million a year with no experience, not time, no money and no brains!”

You’ve heard these outrageous claims before and they get old after a while! It makes it hard to know the difference between the hype and an online home business or home-based business idea that can deliver a real promise!

So if you’re trying to get out of the 9-to-5 rat race and work for yourself, the best way to prevent wasted time is to find a dependable mentor and invest the required time and money to get the necessary foundation that can help you make money from “jump Street!”

It’s common for the average home based business entrepreneur to invest 10, 20 or $30,000 in training and tools before finally getting the right skill set to make things happen. In fact, it probably happens to over 70% of us who get into home businesses. Of those, most fail.

In fact, I was no exception. Before it finally made some sense to me I had invested over $20,000 in training, software, tools etc.

The biggest tragedy is; I could have spent $500 or even $1000 and received the same or even better results! However, I started like most of us do. spending $10 here, $25 there, etc. But that’s like trying to put a 500 piece puzzle together and purchasing five pieces at a time.

So you’re faced with the choice of constantly being persuaded by all the get rich quick scams and jumping from one hot idea to the next!

Don’t Repeat the Same Mistake most Home-Based Beginners Make!

Like many of us, I took the plunge into online and home-based entrepreneurship and experienced instant failure! Even though I began working on the internet when it virtually started. I worked many home-based businesses as early as when Amway was very popular.

I failed at over 50 different home and online businesses with every marketing strategy you can think up.

I fell for several of the web site gimmicks that told me to “just purchase a sleek looking $500 web site and get rich! One such opportunity was a car web site that I worked on for five years. During those years I never made one dime!

I purchased e-courses, signed up for all the free programs, I spent many hours posting to free ad boards, ad blasters, banner ads, studied SEO, basic HTML and much more. I probably tried every kind of internet business and strategy on how to make money!

I tried an equal amount of home-based businesses that do most of their work on the street instead of the internet.

Basically, I was spending all my free time draining my bank account and still didn’t make one penny!

Don’t let anyone fool you; although working in the home-based business world can be very lucrative, you are going to have to make an investment in time, money and dedication before you get the results you desire. The good news is, it takes much less time and much less money than in the “brick and mortar” world.

Important Tips for Starting Home Based Beginners

OK Mike, you told me all the bad news! So what can I do that will work!

Glad you asked!

Good money can be made with a home business idea, and lots of it! In fact unlimited! But these secrets are important.

If you are making tons of money without them, you should be able to at least DOUBLE your income with them!

1. BEST HOME BUSINESSES Concentrate on programs or products that need to be purchased monthly!

There are many great products and services for you to support. You can earn big commissions to represent them. HOWEVER, would it be better to make a $39 profit just one time, or a $10 profit over and over again indefinitely?

2. BEST HOME BUSINESSES know it takes some money to make money!

Despite all the hogwash you read about making $1 million and never spending a dime; ladies and gentlemen, it might happen once in a million years! But don’t hold your breath!

It’s always going to take some money to make money. The good thing is it takes a whole lot less to start a work from home business.

Also, even though you can join many programs FREE; realize it only gets you in the door; and without benefits to actually make a financial profit fast.

3. BEST HOME BUSINESSES “put their eggs in several baskets!”

The best home businesses entrepreneurs diversify their businesses. Getting involved in a program or selling a product with multiple sources of income or sources of prospects is what I’m talking about! If your business has more avenues of income, it will be more stable and you will be less likely to go under.

I would keep in mind that because of our unstable economy, a rewarding home-based business idea should not solely be dependent on the online world. You can conduct your business online and “on the street” but what if the internet goes down for some reason? Just something to keep in mind.

4. BEST HOME BUSINESSES invest in a business with a solid financial foundation.

Can you imagine if you invested all your time and effort in a program and after one year it closed its doors! Make sure you don’t invest all your effort into a program that is weak in the first place!

Also, when you have a “business developer mindset”, instead of a “recruiting mindset”, you will have a friendly team of associates to keep your business going.

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.

Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.

People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!

Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.

Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.

Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.

After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.

Tip 2: Be sure you clearly understand the terms and policies of the auction house.

Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.

Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.

Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.

Tip 3: Make sure the auctioneer knows what you’re selling.

It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.

Tip 4: Present your items neatly.

No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.

There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.

While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.

Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.

The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.

Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.

If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.

Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!

The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.