With the recession, companies closing and the incredible increase of unemployment everywhere around the world it is difficult to project ourselves in the future. This situation pushes many of us to use their entrepreneur mind-set and grow a home based business.To be an entrepreneur is not an easy task. Nobody will tell you what to do, when to do it and most of all how to do it. But one thing is common to all the people who start a home based business is passion, motivation, and rigor! This is not surprising; those are the foundations of all the major industries in our country.The passion is source of creation:To create your home based business, you will need ideas of products, marketing, distribution,… For some people these will come naturally and for others it will be hours, days, months of reflection, discussion with others. So, in the first times of your market research you should focus on topic that you like or you have experience in. If you are a fan of golf and practice it for a while, you certainly met some problems regarding the technique or material. Find an answer to this problem and you have a business opportunity. Yes, there are millions of golf players in the world; some certainly met the same issue: they are your potential customers. For technique issue, your products can be video training (cheap and easy to do with a computer and some freeware). If it is material, you can always find a merchant that propose affiliate program, so promote his products and get your commission.The motivation is your petrol:Have you ever notice how you can easily complete boring and hard tasks when it is related to a topic you are passionate in? Any business, either home based or not requires time, dedication and most of all MOTIVATION. You will pass through hard time before your first sale/contract/commission, great time when you will make good profits, stress, laugh, and many more. Therefor you need to be motivated to keep your direction and don’t give up. You are the Boss now, so behave like one; I’m not talking about this pain in the *** that make your day a nightmare, but rather the captain of the boat that spray confidence and positivity around him. This is the right entrepreneur mind-set.The rigor keeps you on track:Your home based business is not a hobby like the gym club that you start three months before to go to beach and give up afterward. Here, we are talking about what will bring you something to eat every day (and maybe much more), you have to be rigorous in your approach.
First of all, before to jump in any business, learn at least the basics of the activity to be ready to what is waiting for you.
Second point, don’t let others put you down, especially at the beginning you will need supportive people around you.
Know where you are and where you’re going: prepare a plan, work-flow chart, business plan or any other support document that will be your road map and stick to it (you can adjust time to time, following the evolution of the activity and your knowledge).
Keep record of everything: expenses, profits, costumer and supplier details. You will need it to track your performance (are you really making money?!) and to develop your business network (building confidence with suppliers and trust relationship with costumers).No, don’t be scared, a lot of people did it before you and many after. A home based business is a great achievement for any entrepreneur and most of the time requires a minimum of investment. The only thing to remember when starting this kind of adventure is to take it seriously and to prepare yourself to any outcome.Maybe you have already an idea of activity but don’t know where to start, then the internet is here to help you to find some expert in your field that can give you some guidance. But as long as you got the right entrepreneur mind-set, your small business has all the chance to succeed.

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

Running a home-based business has many challenges that you never had to face as an employee. A successful home-based business is more than just taking orders from your kitchen and enjoying snack breaks whenever you want. To ensure that your efforts are rewarded, consider whether or not you are making any one of these three deadly home based business mistakes?Mistake #1-Starting your business without checking out the legal and liability issues of running a home based business.Driven by passion to get started on a business idea many budding entrepreneurs set up shop without checking with their city regarding licensing, permits and an insurance broker regarding liability issues.Everyone may rave about your brownies, and may even buy them from you, but selling food you created in your home kitchen is a code violation in many cities.Offering financial planning services from home but meeting your clients in their offices or the local coffee shop is likely to be acceptable in many cities.While you may think of your business as unobtrusive and discreet, if you’re operating in a residential area you may be in violation. While you may operate undisturbed for a while, all it takes to shut you down is a complaint to the city from a disgruntled neighbor who resents that you’re working from home while he has a 37 mile commute.Liability is also serious concern no matter what type of business you operate. Just one lawsuit can not only dampen your spirits but damage your business assets.Solution:
Visit your city online or in person to learn what licenses and permits you will need regardless of whether your business offers products or a service. Even though you operate from home, some cities will approve with no-business-in-residential zones may still allow you to operate if you get a private-mailbox in a commercial zone.
Your city business license department can tell you about all the permits you need in addition to the license, such as a seller’s permit or health permit.
Contact an insurance broker to discuss the type of liability insurance you will need to cover potential lawsuits. Insurance is not only a very wise choice, but is often required by corporations with whom you will do business. Some homeowner insurance policies may protect your home based business, while others won’t.
If you discover at the beginning that it is not feasible to operate your business from home, you can seek a proper location, get adequate insurance and start off your business with peace of mind.Mistake #2-Overlapping your business and personal life.You probably chose to work from home so you can spend more time with your family and enjoy a more flexible schedule. These are worthy goals, but your business success depends on the extent to which you keep the two separated. It may be great talking to clients in your pajamas, but trying to make sales calls with screaming children in the background is not likely to win many accounts.At the same time, your children deserve your time and must have their needs met as well. Your spouse is likely to fall out of love with your business and you too if your business consumes all your time. Solution:
Set up your office in a separate room preferably away from the main family-gathering room.
Install at least a second phone dedicated to your business so you can answer it with your business name or create a voice mail with a business greeting.
Set up business hours and adhere to them as much as possible. Just because you work from home doesn’t mean you can run without a schedule. You have the flexibility of adjusting your schedule, of course, but you must have one to start.
Set up rules and guidelines about how you want your family to behave during your “business” hours.
Plan activities that will engage your children while you are working. For children who are not school age, some business owners hire a babysitter or work in the evening after their children are asleep.
Carve out time in your day when you leave your business to spend quality time with your family. It may mean taking your dog for a walk to the park, playing games with your children, and having meals together.
Mistake #3-Undercharging for your products or servicesThe biggest mistake many home based business owners make undercharge for their products and services. Some do this in an effort to drum up business in the beginning stages, especially if potential customers balk at their prices. Others undercharge because they don’t document how much it cost to create their products or render a service. Then others don’t place a high enough value on their time. It’s very awkward to be forced to raise your prices after you created the expectation of low prices in your clients.No matter how passionate you are about your business, if you don’t make a profit you will not be able to keep your business nor your personal life afloat. Solution:
Research the fair market value of your product or service. Don’t make the mistake of believing that because you work from home your fee should somehow be less.
Determine the actual cost of doing business. Be sure to count business overhead, supplies, shipping costs, materials costs and especially your labor.
Consult a coach and others in your industry to learn their pricing strategies
Remember that profit is your net, not your gross. You must keep records that enable you to track your income and outgo so you’ll be able to easily see if your business is profitable.