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Six Reasons Why Most Home Based Businesses Fail

Every day thousands of people are looking to get out of the “rat race” to work at home. Most of those people want to get started on a home based business so badly that they do not always make wise decisions in choosing a home based business opportunity. As a result, many fail miserably and are left worse off then before they started. This, of course, does not need to be the case.

It is very possible, and doesn’t have to be all that hard, to find a legitimate home based business opportunity. As discussed in my previous article, “Why Do Most Home Based Businesses Fail?” there are five major reasons most home based businesses will never work.

In this article I am going to give you six more reasons why your home based business will fail, if you are not careful when choosing:

#1 – Most new opportunities do not help you make money. They will give you some ideas for making money, but then leave you out in the cold by having you do everything on your own. There simply is no good support system. Nobody should be a part of a business opportunity without a good support system.

A good support system should include at least some of the following; Good leaders, help forums, ongoing training, conference calls, marketing tools, suggested resources, ebooks, blogs, FAQ’s, etc… Basically they should have many ways to help you as much as possible with any question you might have.

#2 – Unfortunately, some home business opportunity owners will take your money and run. There are too many fly-by-night operations out there that will not hesitate to scam you. The problem is their promotions sound just as good as the legitimate opportunities. To avoid this, you should be very skeptical about each home business based business opportunity you are presented, examine and research them carefully, and then make an informed decision.

#3 – Some home based business opportunities will have you working long hours for little pay. This is a good way to get burned out, tired, frustrated, and eventually quit. Why become part of a home based business opportunity that is like a regular job? Of course, with any home business, you will have to put in a lot of time, energy, and resources for the first year or more, with little in return. But don’t get that confused with an opportunity that you will never make any real money in, no matter what you do.

#4 – Many home business opportunities offer products nobody really wants. You should never try to market any product that people couldn’t care less about. Do this and you are doomed to fail. Always remember that the market for your products or services comes first, and the product or service must be something that people actually want. In addition, it is best that the company who offers the product or service has a proven marketing system in place to help you promote them.

#5 – Many home based business opportunities force you to become a salesperson. Yes, you will have to do some selling in any home business, it just can’t be avoided. However, you should not have to spend your days cold calling leads or trying to sell ice to Eskimo’s. Don’t get into one of these businesses or you will get burned out quickly, unless you love to sell. There should already be an established market for the product or service and a system in place to eliminate as much of the “selling” as possible.

#6 – Some home based business opportunities pay small sums of money and no residual income. Stay far away from these! If you market products or services that don’t sell for very much money and don’t offer any residual income, it’s going to be almost impossible for you to make any real money or obtain financial freedom. There are plenty of opportunities out there where you can make a good amount of money per sale as well as earn residual income. It takes the same amount of effort on your part so don’t waste it on anything less!

So, there you have it… six more reasons why your home based businesses will fail if you are not careful. Do your homework and look for potential problems with any home based business opportunity before you get in it. Make sure it doesn’t have the problems outlined above, and then make an informed decision.

I want to leave you with the same final thought as my last article on this topic… No opportunity is perfect in every way. Don’t waste your life searching for it because it doesn’t exist! Just find one good home based business opportunity and stick with it.

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?

Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.

HOW PENNY AUCTIONS WORK!

The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.

HOW TO WIN!

Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.

HOW TO AVOID SCAM SITES!

Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.

CONCLUSION!

New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

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How to Judge the Best Easy Home Based Business

A person can be home bound for many reasons and similarly, there is no limited time as well for one to work from home. You can be a housewife, a retired personal, a student or even a working person who is always willing to earn something extra which can be of good use in needs. Money can be earned in many ways and it is all up to you as to which way you opt for.The type of the easy home based top business varies from one person to another as for some the legitimate internet business is the perfect source of income while some others prefer to for the networking businesses. But while going for a home based business one must note this very important factor that the capital amount invested for the business decides the capacity of it being a easy home based business. If you have a 6 figure home business in mind then for that the investments too have to be good. The smaller a business, the lesser is the income. But any 6 figure home business may not be reliable and the scam businesses should be kept miles away.With a number of MLM businesses mushrooming all over, it is often hard for one to track the reliable top home business. However, still it is not that difficult for one and if you choose to research about a business by taking help from the internet, things get easier and a great deal of time too is saved.Try following the steps mentioned below while looking for a easy home based business and get benefited:1. A proper research about the company and its roots:Before jumping into a business you must know the past records of the company. The success graph of the company too matters a lot along with members’ feedback. Together with that, you must also notice whether it is a legitimate internet business or not.2. Find out the features of its products and its goodness:Right after knowing about the company you should know well about the products or services that it provides and for which it is existing in the market. A company or a business will exist and prosper only if its products can meet the standard.3. Get your doubts cleared:If you have any kind of doubt about the type of the business, regarding the investment of money or regarding the growth of your income with it, then it is better if you get all these cleared before you really start with.4. Talk to the staffsThe members of the business who have been involved with it since a long time can be the best people to guide you. You can have face to face meeting with the staffs and come to an adequate conclusion as to whether it falls in the category of being legitimate online jobs or not.5. Seek for an expert’s or a friend’s opinion:An experienced person who is already involved with home based top business or a very close friend of you can be of great help while taking the final decisions. Building a top home business is not always a one man’s job.6. No need to hurry:Always take your time for having an eye on the positive and negative aspects of a business. Try investing your time in studying the legitimate online jobs only. A hasty mind may lead you to a wrong direction.7. Are you the perfect person for it:Lastly, compare your eligibility and qualifications and your interest with the business and then think is it the right kind of thing that you have been made for. If your mindsets are in no way on the same track with this business then you better not go for it.The way to a easy home based business therefore, is not that smooth and you should go for it with proper preparations only. An extended homework on the business that you are thinking of opting for will be your best help in moving further.

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