If you run an online home-based business and you behave like a mere consumer, then don’t be surprised if all your efforts at growing your business is undermined by this mindset.Businesses make rational buying decisions after careful thought and based on a good feel for how what they are buying fit into their business model.Consumers make decisions based on impulse and what they feel will bring them satisfaction.If you are going to be successful in your online home-based business you have to understand this distinction.How do you adopt the mindset of an online business-person rather than a mere online consumer? Well maybe if you understand the implications, then this will force you to adopt the correct mindset.The implications from behaving as one or the other for your business are huge. And especially so if your business is home-based and run online.Every marketer trying to sell you something online is selling you based on their perception of you as the consumer who will instinctively pick up that tempting chocolate bar at the check-out.Not as a shopper who entered the store with a list of what is required and who is going to buy only what is on that list. And certainly not as an operator of an online home-based business having specific requirements.If you operate with the mindset of the consumer, each of your purchasing decision is most likely going to be driven by the mindset of a mere consumer. Not the mindset of a business person.That is because your online activities are most likely not based on a business model that have specific requirements, but are based on a purely money-making model looking to consume business opportunities presented to you.With this mindset you morph into an online business opportunity consumer, not an online home business operator.It leads to irrational decisions based on whims and driven by sales pitches creating an unhealthy level of anxiety that end up fragmenting your efforts, your time and your financial resources, damaging to your efforts at running a successful online business.These are the ultimate consequences of being an online business opportunity consumer rather than truly being an online business operator. And these consequences are what will eventually cause you to get exhausted and de-motivated only to end up putting your faith in another crazy idea with the same outcome over and over again.You cannot afford to have this mindset if you are going to run a successful online home-based business. So before you even contemplate running this kind of business online, get the correct mindset in place and the underlying resolve that comes from a deep understanding of the consequences of not doing so.Any other approach is just courting failure.

If you’re in the verge of starting your own home based business only, you might be having troubles deciding whether you should leave your day job and pursue a life that you always dream of – such as achieving a debt-free life, complete financial freedom and a stable profitable business.  On the other hand, it can be a risky task since setting up an internet business requires some overhead cost and you would not necessary gain profit within a short period of time. In other words, you cannot guarantee that your business will start making lucrative profits after few weeks of opening.To be honest with you – there is nothing that guarantees the success of your business but if you’re willing to accept new challenges and deal with new problems persistently and that kind of positivity would attract success! Therefore, starting a successful new online business at home does not come overnight – it requires small baby steps to achieve it. In fact, you don’t have to spend much time on these steps below:Step 1: Find a niche that you’re really interested atFor some people, it would take hours or days to find a right niche for them and this could happen to you too. If you’re having difficulties of finding one – you can browse through the advertorial section in magazines and newspapers, to see others what they are currently promoting. Based on that, you can easily choose one niche that interests you. Other than that, if you have a hobby or any particular interest that you wish to pursue, you can actually turn them into a profitable online business as long as you’re fully dedicated to it.Step 2: Start researching on the selected nicheOnce you have selected a niche, you have to identify competitors of your niche and learn on what they have offer to their potential clients. It is similar to a famous quote from Sun Tzu’s Art of War:”Know your enemy and know yourself, find naught in fear for 100 battles.”Based on this quote, you can learn from your competitors (or “enemies”) about the products they sell, and contents they provide from their websites. From their website contents, you can figure out the keywords that help them rank top of the search engine results page (SERP).  Step 3: Identify the strengths and weaknesses of your businessSince you’ve identified your competitors of your selected niche, it becomes natural to proceed with distinguishing strengths and weakness of your own online home based business – your products or service. Here’s a tip on how those big companies identify their strengths and weaknesses – is performing a SWOT analysis. Therefore, it’s wise that you Google up “SWOT analysis” for more related resources.Step 4: Find solutions and work on it as soon as possibleWhen you’ve completed first few steps above, it’s time to take actions accordingly and work on it as quickly as possible. Set up a working schedule to get things at the right time. You need to maintain a high-productivity at work in order to complete all possible tasks on your own as you’re the boss and the worker of your own internet business. Now you have learned all the steps to start your own home based online – so let’s start it up!

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.