Are you struggling to generate a steady significant stream of home based business sales? Are you tired of not having enough home based business sales to offset your costs?What I’ve realized learned from some of the best retailers of home based business sales products is that you need to do this one thing really well to boast your revenues. It could be true that you may be an excellent one-to-one salesman and can probably sell ice to an eskimo. However, that is a very difficult skill to duplicate down an organization. Let’s face it: super salesman do not grow on trees, and very few amounts of people that you will come across will actively and passionately go out and sell for the sheer love of it.The truth is that most people are deftly frightened of sales.They don’t like it, they secretly feel embarrassed of the products they have to offer, and they feel sleazy for selling to people. So as a team leader, you must find a resolution that will take the individual pressure off of them but still be able to tap in to their networks. And what do the top retailers do?The best home based business sales retailers run events!OK… maybe that’s not a well-kept secret, but there’s a science to how you run events that determine whether or not you leave with a sale or empty-handed. Here is what separates a typical event from a selling event:1) You must provide value -Our most effective home based business sales events occur when we dispense valuable information to our target customer base. Case and point, my wife is a great retailer. She specializes in cosmetics, and as a company trainer, she is also a certified makeup trainer. She invested in herself to make herself in to a makeup expert and uses her expertise to boost her sales. She conducts general education classes and makeup workshops that target ladies who are interested in learning professional-grade makeup techniques that are simplified for everyday use.By providing this value, she is able to attract a larger volume of guests, which increases her chances of completing a sale, a powerful form of attraction marketing.2) Product Demos – If you’ve never done a product demo for your home based business sales events, you are losing valuable sales opportunities. One of the lessons that I’ve learned being in network marketing and seeing so many affiliate products, mine and others, is that most products are top-notch. Very few network marketing companies carry inferior products, but the downside is that they also don’t invest in mass market advertising, which is why you are involved in your home based business franchise. You are the marketing mechanism for them.Think about it: if demonstrations weren’t powerful, why would infomercials, Costco, department stores, and kiosks at the mall all utilize this strategy to draw you in?When you host your events, you should always focus on doing some sort of demonstration of your product after the general information has been covered. Make sure you pick products that have symmetry with the topic that you are covering at the event, else it loses its value.When doing your demonstration, be sure that if you are promoting a health and nutrition product, have a control piece as well. What that means is that you should have a demo without using your product to demonstrate to the audience the difference of using your product, and what it means to not use your product. For my website company, we have programmers sit down with the prospect and show them the capabilities of the website via live webinar to demonstrate the ease of use of our platform website builder.3) Have Roles -A well-run home based business sales event needs to have team unity where each team member knows their role in the sales process.- You always have a presenter who gives out the information. That person also does the demonstration.- Another team member sets up the demonstration while the speaker is engaging the audience.- A team member needs to greet the guests as they come in and help them get situated by filling out a questionnaire to extract extra information (i.e. “What question do you wish to address in terms of health and nutrition?”)- You need to designate a sales person. That person should be the “closer” that collects the payment and is responsible for upselling packages and promotional items.If you have a team that is well-versed in these tasks, then you will watch your sales revenues spike because it’s not reliant on one person doing everything.4) Build Packages and Promotions – Sales sell in a traditional business, and so too in a home based business sales event. Try to create promotional packages grouping several products together, or run a special on promotional items to entice customers to buy at the event. Make sure you stress that the sale is ONLY for this event so it creates a sense of urgency.Promotions that work best for us are bundles of several low-end items, as well as offering tiered pricing and incentives for purchasing a certain dollar amount. In comparison to events that don’t have packages, sales for packaged items always increase overall sales by 33-50% at our events.5) Always Promote the Next Event – We have a saying in our company: “Who’s the best speaker? The next speaker!”What that means is that one of the keys to genuinely strong home based business sales teams is that they always promote the next event before the current event is over. It opens up the opportunity for you to book your guests for the next appointment. It also allows your team to provide incentives for guests to invite their friends to the next event, which will organically grow your retail audience and increase potential of sales.Make simple, effective, and professional flyers for the next event and have them ready to distribute to the attendees. Give them a few extra to give to friends. If you use that incentive suggestion in the previous paragraph, they will no doubt be motivated to promote the event for you. We offer discounts for customer from the current who attend our next event.Conclusion: At the end of the day, it’s all about teamwork and commitment. When you have a group of entrepreneurs that are dedicated to generating significant revenues for yours and their home based business sales events, then you will have the beginnings of a fantastic lasting formula of success. If your speaker does a good job, they will have already done half the sale because they stressed the importance of why the product is needed. The demo moves the customer to want to buy, and the closer comes in and finishes the job. It’s a fluid sales process.Now that you have learned an effective mechanism to boost offline home based business sales, let me introduce you to a way to leverage the internet sales aspect too. Would you rather have only one channel of distribution, or two? Multiple streams of revenue are always a plus, especially if they work in unison.There are a lot more tips that we can share for running events, but to go on and on would take all night. If you can’t wait until our next piece for more retailing tips, then reach out to me via my blog and I will be glad to help.
Real Estate Auctions – The New Land Rush
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.
Your Home Based Business Plan
To get started with your home based business, the first requirement to activate your status is to prepare a comprehensive business plan. To encourage people to invest in your business; this is the first and foremost requirement. In fact, many investors like bankers, angel investors, venture capitalist can help you start your business and provide fund, if only you possess a good plan.To create your business plan, you don’t need any writer to develop it. All you need to keep in mind is that the plan should be realistic and focused to the subject. Additionally, you will also have to show them that you are 100% capable of accomplishing the target because you have the required talent, tools, system, workforce etc, and all the necessary arrangements in place. This particular document is not a one-time requirement to either start or expand a business, in fact you will often have to refer to it and also update it from time to time.Do you require a plan for business?
The answer to this question is no. Not all home based business entrepreneurs develop business plans. However, if you are seeking financial help from investors then you surely need a business plan to pave the road to success.However, you don’t need to produce the business plan always. For instance, if you approach a venture capitalist then you obviously need a business plan. On the other hand, if you approach a banker for loan to start your home based business, then production of the business plan is a must. Now, if you apply for a loan to expand an already established business, then the banker might skip the business plan.How to write a plan for home based business?
Before I answer this question let me explain the contents of a business plan. Your business plan should clearly state that the business has the capacity to generate enough returns for not only clearing the debts and loans but also covering the general business expenses. The plan should not be too long but a very concise write-up, just enough to put forward your ideas and convey the message across the table.1. The first part will be an “Executive Summary” that will highlight your business plan. Your writing should be convincing and worth considering, which should not be more than two pages.2. Second part is called the “Company Summary”. As the name implies, it is all about your company. In this area you will have to mention the company’s background history, ownership details and everything about the company.3. In the third section, mention about your “Products and or Services”. Here you are supposed to describe your products and or services. Moreover, you will also need to give the distinguishing features of your products or services. In other words, highlight the points that will make people consider your products and or services to be helpful.4. The fourth part will be about the current “Market Analysis”. In this section you will have to state the current market condition of your product and or services.5. The fifth part will deal with your “Strategy and Implementation”. It’s more like how you are planning to sell your product and or services in order to accomplish your targets and generate revenue.6. The sixth point is all about “Management Summary”.7. Though this is the last point but I think it is the most important one. You will have to write the “Financial Plan”. This deals with all money related matters like profits, sales, cash flow etc.These are also applicable for Internet home based business, if you need funding.