There is a revolution taking place. People all over the world are discovering the power within a home based business opportunity, and they are taking advantage of the economic disruption and income generating opportunities that these businesses are bringing to the world’s marketplaces. It has become clear that the work from home businesses have trumped the old business models of the behemoth corporations and their pension plans are going the way of the dodo bird. The public is waking up to the transformation, and many people have built massive businesses in just a few years.If you want to work from home by owning your own home based business, here are 3 easy steps that you can take to start a business and get it up and running:Step 1 – Find A Solid Opportunity That Excites You!There are many ways to build a business from home. One of the popular ways to build a business is to get involved with a company that offers individuals the ability to distribute products and services. There are many types of these opportunities available, and they are in many different industries. There are some in telecommunication, health and wellness, legal services, affiliate, and travel just to name a few.Find and research the work from home companies that interest you. Here are a few things that should be researched thoroughly before making a decision to jump on board and work from home with that company:• Compensation Plan – How will you get paid?
• Training – What training does the company offer, and how extensive is it?
• Products/Services – What will you be marketing? Are you passionate about it?Choose the work from home opportunity that best fits you and get ready to start.Step 2 – Get The Training To Be Successful.The first thing anyone should do once they choose to work from home in their opportunity is to dive in and get training on the business and its products or services. As in any business, the goal is to create sales production that produces monetary results, so it is imperative that you learn how to operate the business and how to talk to people about it. Every major player in the home based business arena has done a very nice job in supplying the independent business owners with adequate and proper training. Many of these companies have created extensive online training libraries and distribution channels that allow the business to be a true work from home experience.Step 3 – Create A Plan And Stick To It.Every home based business needs a plan. To work from home sounds nice and easy, but it will require a decent amount of effort in the beginning stages of the business. Without a plan, there is no guide to follow in order to grow the business and this is where most people tend to fail and quit. Find out how much time can be devoted to working on the business every week, and schedule those times out in advance. Make a plan for training, make a plan for phone calls, make a plan for personal meetings, and make a plan for marketing. If you truly want to be successful in your home based business, and work from home whenever you want to, then give it the respect that it deserves and go all the way. Plan for success, budget the proper time, and maintain the discipline to carry out the actions that will bring results.A home based business opportunity can afford unlimited income potential, and free up the time in our busy lives to do the things that we love to do. Taking a balanced approach to choosing a solid opportunity, getting the necessary training, and planning out a proper business venture are the keys to getting a great start.
Work From Home By Starting A Home Based Business In 3 Easy Steps
3 Sources Where Your Small Business Can Get A Loan Today – Yes, Even Your Small Business
Now, when we talk about small business loans, we mean just that – small business loans. We are not talking about a $1 million loan to purchase some commercial real estate or $500,000 to buy some investment property. We are not talking about a $3 million credit line just to show capital on a balance sheet. And, we are not talking about a $250,000 equipment loan for a regional construction company.We are talking about true small business credit – loans under $150,000. Capital amounts that the 22 million small businesses in this country could use at some point in time for working capital, to renovate their location, purchase inventory, marketing, meeting payroll, developing new products or to simply have the capital on hand to acquire and satisfy customers (what business is really about).But, we have heard ad nauseam that banks are just not lending to small businesses – claiming there is too much risk in smaller firms. So, many small companies are not even applying for credit anymore out of fear of being turned down. And, as a result, we are seeing small businesses not reach for or obtaining their full potential – essentially letting profitable opportunities slip by.However, just because banks don’t see the true value of small companies, that does not mean that others don’t – others who are willing to do what they can to fund your business.The Benefits Of Small BusinessThere are some 22 million small businesses in the U.S. and they are quite the power house.According to the Small Business and Entrepreneurship Council, small businesses;Provide two-thirds of all new jobs in the nation.
Contribute almost 50% to our Gross Domestic Product.
Account for 97.8% of all exports. And,
Create 16.5% more innovation than larger firms.All items that help make America the country that it is.But, if banks think these firms are too risky, that is OK, because given the entrepreneurial spirit in this country, other financing firms (lenders) are stepping up to cover the small business loans that banks and traditional lenders will not. So now, you don’t have to be afraid of being turned down anymore.3 Sources That Will Fund Your Small Business1) SBA Loans: Sure, SBA loans have to go through banks – which are not lending. However, banks might not be lending for their own loan portfolios but they are lending under the SBA’s programs.Did you know that over the last three years, the SBA has been growing the number and dollar amount of the under $150,000 loans they back – even given that banks (who originate these products) are not approving them?From the latest SBA data;In 2012, the SBA guaranteed 14,520 under $150,000 loans for a total loan amount of over $802 million. In 2014 (two years later), the SBA increase the number of these loans to 16,043 with a total volume of $955 million – with a down year in 2013.Part of this increase is the fact that the SBA has reduced or waived its fees on these smaller loans. From the SBA’s website:”The SBA determined to eliminate the fees on loans of $150,000 or less after conducting a review of the 7(a) Loan Program. As a result, a small business owner obtaining a $150,000 loan will save more than $2,500.”Bottom line – the SBA is actually doing what it can to fund small businesses in this country – including yours.Programs to look for:The 7(a) program offers nearly any business loan under the sun from working capital to commercial real estate.The CDC/504 program only focuses on real estate and equipment lending. But, if your business needs either one of these under the $150,000 amount – including renovating your location – then by all means as this is a great program.And, the express program – which is capped at $350,000 – is a great program. Quick and easy access to needed capital.Now, for some quick benefits of SBA loans. The SBA’s guarantee does several things:By capping interest rates and fees, these products tend to be cheaper in the long-run for the borrower.
Lower down payment requirements – meaning that you can keep more of your own money in your own business.
Long loan terms also allow payments on these facilities to be more affordable. Just image which loan payment would be easier to make on a $100,000 loan at 10% interest. A bank may require the loan to be repaid in 36 months – making the monthly payment $3,227. While the SBA could extend the term to 6 years (72 months) making their monthly payment $1,853. The lower the payment amount, the easier it is to cover with current cash flow, making the overall loan less risky and easier to get approved.
Express programs can significantly speed up funding as some traditional business loans can take months to close while those under the express programs can be funded in the matter of weeks.If you have been fearful of applying for a SBA loan, knock it off and go apply!2) Alternative Lending: Alternative loans (non-bank loans) from factoring and business cash advances to revenue based loans have really picked up steam over the last 5 plus years.These lenders are focused solely on small businesses and as such have created products that allow them to approve more loans to companies that traditional lenders will not touch – by not using old and outdated underwriting standards but by focusing more on technology.Most alternative lenders – especially the leaders in this space – have seen their loan volumes (thus their approval rates) – increase by 150% or more year after year.A couple of examples: According to the SBA, their largest lender – Wells Fargo – approved and funded just over $266 million in small business financing last year. However, OnDeck Capital, a leading revenue based lender, nearly doubled that amount over the same period. Further, CAN Capital claims to have funded over $800 million in 2013 – far out pacing even the top 100 SBA lenders combined.While these loans are high-cost loans, they offer several benefits like approvals when other lenders say “no” as well as quick (in the matter of days) funding.3) New Players: Peer-to-peer lending is know for its ability to match regular people who have extra money to lend with regular people who need to borrow. These loans are typically personal loans that can be used for nearly any purpose – like starting or growing a small business.However, just this year, Lending Club – the leader in P2P lending – has begun to offer a true small business loan product where businesses can borrower anywhere from $15,000 to $100,000 at low rates. And, their approval and funding is not based on some standard cookie cutter formula that most businesses just do not meet but comes from regular people who listen to your story and decide for themselves the merit of your financing request.ConclusionCapital for your business is still available.Don’t always believe what you hear. Sure, small business lending is tight – when compared to the hey days of the mid-2000s. But, that does not mean that you still cannot get the funding your small business needs to start, grow and succeed.To truly know if your company is qualified for business loan all you have to do is one thing – and that is to apply. But, if you don’t apply, you will never know for sure and then all you can do is reflect on how far your business COULD have gone.
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.