If you have a burning desire to work from home you are not alone. I joined the almost 4 million Americans who successful make a living working home based businesses about a year ago. It was literally overwhelming to look at the endless possibilities in the home based business arena. To make matters worse 99.9% of the folks you are going to run into will surely try to sell you on their “amazing” opportunity. Choose wisely my friends. Over 95% of home based entrepreneurs fail. I believe this is because they jump into a business that does not fit them. Read this article to get started.If you are looking for specific ideas, I have hundreds listed in some of my other articles. In this article I am going to stick with a critical overview of the five basic structures of business that cover about 99 percent of home based businesses. By choosing a category to look into, you can narrow your search and hopefully start to hone into what is going to work for you.The question to ask is not how good an opportunity looks, but does it really fit you? Does it fit your time? Does it fit your skills? Does it fit your passions? Does it fit you realistic investment money and needed income? You must put on your critical thinking hat and look at the process as a type of reverse job interview. There are over 2,700 MLMs currently n the US and over 10,000 home based franchises, affiliate opportunities, and other home based businesses. Anyone can find a business that will make them a decent living from home- if they do their due diligence to find a truly “good fit!”Below are the 5 main categories that home-based businesses fall under. I have listed them with the main pros and cons of each structure. 1) Affiliate Marketing Pros: Good income potential: Previous proven and somewhat branded productsCons: Some have little to no ongoing training or mentorship: Affiliate Marketing is just that “marketing”2) Home Based Franchise Pros: Franchises usually have very well-developed products, services, and marketing plans: Many leave a lot of room for individuals to run their business in the way they choose to: Some provide comprehensive trainingCons: Start-up cost for franchises are significantly high than other forms of business: Many franchises require a set of specialized skills to run effectively3) MLM (network Marketer) Pros: Compared to other forms of business MLMs have a low cost to join: They have very flexible hours: Almost all have a pre-existing plan to followCons: Most MLMs have ongoing financial commitments: Only about 1% of folks in MLMs make a living in the industry: It normally takes several months to build a large enough down-line to see a significant ongoing cash flow: Out of the more than 10,000 MLMs that have been created over the last 60 years only 50 have lived to see their 10 year anniversaries4) Online Business (all other forms can be worked online) Pros: Working online provides an unlimited income opportunity: Flexible hours: Can be easily worked around current employment in needed: Fits almost any nicheCons: 97% of folks who attempt to make a living fail because of a lack of ongoing training and mentorship: There are specific skills and knowledge that must be learned to make money online5) Unique Original Ideas Pros: Started a business from scratch can be a very personally rewarded experience: If a new business is created, marketed, and branded it can create significant wealth for the ownerCons: There are many skills needed to successful run a business as a startup: There can be large startup costs: Many underestimate the time commitment needed to get a new business off the ground
Take a good look at the pros and cons of the different structures. I have successful owned and operated a number of businesses over the years; however, it was honestly an affiliate that allowed me make enough money to quite my “day job” and work completely from my home office. That being said, I know many folks who successfully run home based businesses. Many work in the MLM industry, own franchises, and some have started their businesses from scratch.
What Kind of Business Can You Run From Home: An Expert Review of Home Based Business Structures
Auction Listings Are Vital to the Success of Fundraising Auctions
Fundraising Auction Tip: You should always provide potential bidders with a printed Auction Listing of both your Live and Silent Auction items at any Fundraising Auction. A printed Auction Listing is vital for several reasons:
An Auction Listing informs bidders of the order of sale, and what is coming up next. If you keep your bidders guessing, they will simply not bid.
If bidders are not 100% certain of what they are bidding on, they will not bid. A printed Auction Listing should answer any and all questions about what is being sold in order to encourage bidders to bid as much as possible.
Bidders often need time to plan their bidding strategies, especially on multiple and/or larger value items. A printed Auction Listing helps them to do that.
Couples often need time to consult with each other about what they are willing to spend on something. A printed Auction Listing helps them to do that.
Potential bidders need to know the specifics, the benefits, and the restrictions on any item they are going to bid on, especially on travel and/or other higher value items. A printed Auction Listing should answer all of their questions, in writing.
After bidders see that they have lost an item to another bidder, a printed Auction Listing makes it easier for them to re-strategize on what else they can bid on.
Printed Auction Listings generally come in 3 forms:
Printed in the Event Program or Auction Catalog.
Printed on loose sheets of paper and hand-inserted into the Event Program or Auction Catalog.
Printed on loose sheets of paper and hand-delivered to all attendees, or left on each dinner table in the room.
Auction Listings cost practically nothing to produce and they can make the difference between the success and failure of a Live and Silent Auction. You should never conduct a Fundraising Auction without one.
A Case Study
Let me share a real-life experience with you. Once I was hired to conduct a Fundraising Auction for a nationally renowned organization. The event was held in a major hotel, in one of the country’s largest cities, with several hundred “black tie” participants attending. It was an extremely professional event, with the music, singing, lighting, speeches, and awards all perfectly timed and choreographed. Everything was done to perfection… exception the Fundraising Auction.
Although I had signed an agreement to serve as their Auctioneer nearly one year in advance of the event, no one bothered to contact me for any advice or help. Approximately one week prior to the Auction date, I contacted the group to see if they had replaced me with another Auctioneer. But they said that I was still their man.
Upon arriving at the event I asked for a copy of the Auction Listing. I was told that there were none. I’m not sure whether they felt that the Auction Listing wasn’t necessary, or whether someone forgot to have them printed. This was never made clear. When I asked what I was to use at the podium, I was told to copy the list of Live Auction items from a committee member’s computer. It took me about 30 minutes to copy three pages of hand-written notes in order to prepare for my role as their Auctioneer.
I knew that they had created a PowerPoint program showing the various Live Auction items. When I asked whether the PowerPoint slide order corresponded to the order of sale I had copied from the committee member’s computer, I was met with a blank stare. The committee member left to check the slide order, and returned to let me know that the slide order did not correspond my notes, and he provided me with the correct slide order… hand-written on a paper napkin. This forced me to re-arrange my three pages of hand-written notes before taking the podium.
There was a Live Auction Table with descriptions of the Live Auction items that were to be sold, but the table was not clearly marked, and it received significantly less attention than the Silent Auction Tables, which were clearly identified. Since the Live Auction Table was located adjacent to the “Raffle Table”, it appeared that most people thought it was part of the raffle and therefore paid very little attention to it.
According to the event program (which did not include an Auction Listing), I knew approximately when I was to begin the Live Auction. At the designated time the Master of Ceremonies announced the start of the Live Auction to the several hundred people in attendance, and introduced me as Auctioneer. As I approached the podium I realized that photographs of award winners were still being taken… directly in front of the podium where I was to stand… which required me to stand aside for several minutes until the photographers were done. Can we say “awkward moment”?
As the photographers cleared, I approached the podium and began my Live Auction introduction. Approximately one minute into my introduction, the “Raffle Committee” approached the podium and stopped my Live Auction Introduction in order to pull the 8 or 9 Raffle Winners. These drawings lasted about 5 minutes. Upon it’s conclusion I was allowed to resume the start of the Live Auction.
When standing at the podium two intense and extremely bright spotlights were pointed directly at the podium. The lights were so bright that I literally could not see the center 1/3 of the room. I could see the tables on the right, and on the left, but was totally blinded when looking straight ahead. It took perhaps five minutes before the spotlights were turned off.
While at the podium and describing Lot #1, I had to ask someone to start the Lot #1 PowerPoint Slide… because apparently no one was assigned that job.
So with only the Auctioneer’s verbal description, and a PowerPoint slide, it appeared that few people in the room had any idea about what we were selling… or when we were selling it… until it was announced by the Auctioneer. As a result, bidding was extremely light and the final results fell several thousands of dollars short of where they should have been
The learning experience is this:
The Live Auction is where you place your better items, and where the real money should be made at any Fundraising Auction. Let bidders know as far in advance as possible what you will be selling, and the order of sale, so they can get excited about the Auction, and plan their bidding strategy accordingly.
Auction Listings are absolutely vital to the success of both Live & Silent Auctions. In my opinion, revenues at this Auction fell thousands of dollars short of where they should have been, because no Auction Listing was provided to the guests.
If bidders are not perfectly clear on what is being sold, including both the item’s specifics, benefits, and restrictions, they will not bid.
When you have a committee of volunteers, especially volunteers having full time jobs and/or very busy schedules, the services of a professional Fundraising Auctioneer can help to keep the committee on track.
And once you retain the services of a professional Fundraising Auctioneer… use the services that you are paying for.
Paying Your Dues in a Home Based Business
While operating a home based business has anybody told you that you have to pay your dues?What about your own thoughts? Have you thought what’s fair is fair; I’m just paying my dues? Who made that rule? This is just another little clip of wisdom passed down through the ages that we accept as an unwritten law. There is no real basis for this when it comes to an Internet marketing home business. In fact owners of a home based usually experience success fairly rapidly or not at all.This saying was just created to exert control over others; to keep people down. The more shocking fact here is that we blindly accept it as if that is the way it is supposed to be. I’m not sure what price or how much is being referred to but your home business cannot afford it.Perhaps it’s time to change this thought process. What if viewed paying as collecting instead in your home business? What kind of impact would that have on your attitude and approach to running your business? For instance rather than paying the price for your home based business; you instead collect the benefits for running a business.Just the thought of getting something back changes your perspective. Suddenly the word work in a home based business is not really relevant. It is replaced by other words and phrases like “time investment” or “focus”. Words that suggest a positive return is possible from your home based business efforts.Nobody is saying that paying the price in your home business is all in your head. The reality is things do happen and at times things can get fairly rough. In the real world you have to deal with these issues.What is being said is how you deal with issues is your decision. If you adapt an attitude that you are reacting to issues occurring in your home based business; you are probably going to feel victimized. It is going to feel like you have to pay your dues.Viewing issues as possibilities in your home business takes on a whole different mindset. You begin to consider alternatives, possibly how or what can be done in the future; you forward- think.Create Your Own Home Based Business PersonaAction plans and policies are formed to handle or prevent these issues in the future. This is what makes your home based business a business. It is what distinguishes your business from others in your field.Reclaim the Time Spent in Your Home Based BusinessConsidering the future in your home based business pays attractive dividends. Policies and patterns of behavior are created to deal with these issues. Reducing the time dealing with these issues again and again can go a long way in the improvement of your attitude. Just not having to spend time with the issue again and again reclaims your time; freeing you to do other thinks like run your business.Now is the Time in Your BusinessLooking at issues in your business as opportunities is a great start but dealing with them is quite a different matter. Address the matter as quickly as possible. Procrastination just always the issue to become larger becoming more of a difficult task to handle; just do it now.Your business can actually benefit from rough times.It depends on how you approach them and with what attitude. Get your head straight and quit paying your dues.