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.
Differences in the Types of Auctions That Take Place Around the World
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.
How to Remain Calm When You Think Your Home Based Business Is About to Fail
Most people who set out to start a home-based business forget the most important factor in having any business, whether offline, online, home-based, or brick and mortar. You see you are probably extremely good at your craft. You are even probably better than most in your field; however, you may have also heard of the terminology “starving artist.” Building a business is not just an art form. It is systematically scientific. If you understand science, in any capacity, then you are quite aware that the term science is an extremely broad term. When you peer into the multiple subject matters of science you recognize several systems taking place.
For one, you realize that all subjects are categorized within the very broad term of the word “science.” Each subject of science has its own category. It is a sub-category of a very broad subject matter. You may be asking how does science relate to me growing my business? Well, it relates in the fact that each sub-category is extremely specific. This specificity is extremely important in telling your prospective clients/customers your SECRET. Most people focus on attempting to sell “hamburgers” to “vegetarians.” Meaning you are positioning your product and/or service in front of people are not consciously aware of it or have not need for it. This is a great way to get crushed in business, because you are spinning your wheels and inevitably, wasting valuable resources, which includes your time. The most important aspect of marketing is locating your niche. You must know who you are marketing to before you are able to implement targeted marketing strategies that will basically have your prospects beating down your door and throwing their money at you. You must become the hunted and not the hunter.
As an avid poker player, it took me a while to understand the value of position. In order for you to flourish in any business, you must learn to position yourself in front of the people who have been talking, searching, and asking about YOU! This may be hard to believe; however, ask yourself one question? How did you end up with the products and services that you are currently using? That’s right. You wanted them and did not stop until you sought out whoever had them. And here is another question. Did they have to beg you for your money? Right again! You were happy to give it to them without fuss, because you successfully got what you wanted. Seems like a win-win scenario am I correct in saying that?