Starting a home based business can be one of the fastest ways to get out of the rat race while simultaneously creating the opportunity of “firing your boss” but make no mistake, it’s not all glamour and glitz. The fact is, developing a profitable home based business requires hard work, determination and a strong desire to succeed.Finding the right work from home opportunity revolves around a combination of items, such as the initial start-up costs, the actual opportunity itself, the quality of the product or service that is being offered and your own personal tastes and interests. With all that said; one key component that can not be duplicated or replicated is the actual asset of any home based business and that is the “You Factor”.The “You Factor” is what I consider to be the most important asset for any successful home based business. It is the driving force behind becoming unsuccessful, slightly successful or highly successful.Let me give you an example, if you are a hands on type of person that enjoys doing mundane tasks that other people avoid doing such as lawn care/landscaping, window washing, car detailing or house cleaning then those types of home based business opportunities might be just the ticket you are looking for in order to break out of the rat race lifestyle.Sure, each of those jobs represent hard work and require an individual who enjoys those types of activities but the fact is there are many money making work from home opportunities that can be taken advantage of within those fields.Of course, if you’re anything like me and prefer the direct sales route as the basis for your home based business then opportunities such as selling baskets, rubber stamping products or wickless candle warmers are exceptional ways to start working out of the comfort of your own home.As a home based business owner who has participated in several money making work from home opportunities along with several other direct sales companies I have determined that the only way to truly succeed is by finding a company that allows you to take full advantage of your individual “You Factor”.Of course, it also helps tremendously if you join a company that offers products that are impressive looking, easy to use and extremely easy to market. Those factors combined with the very low initial start-up costs make it easy to see why so many people are starting their own home based business.Of course, this direct sales opportunity is no different from any other because you will still have to approach potential customers, develop a viable marketing strategy and grow your business by recruiting others to join your sales team.Additionally, you will still require the skills necessary to conduct your business in a professional manner allowing you to provide first rate service to your customers and leadership, guidance and mentorship to the downline members on your team.With the current world economy being what it is, starting a small home based business with a minimum start up cost could be just what you need to escape the rat race.

Many of you might have heard from internet marketing gurus preaching as if everything in a most successful home based business, (ie. example online business) depends on the traffic of your website. Is that the only criteria for a successful home based business? Of course not! The truth is that the most successful home based business principles are not largely different from those of typical businesses. You cannot disassociate online business from the realities of the market because you are still selling to real people.

Have you ever wonder why some people have found successful home based businesses while you are struggling? Do they have access to the best rated home based business, the best online marketing business opportunity, or the best business opportunities from home which you do not have? What really make them possess one of the most successful home based business? Lastly, what is their key to their success? The good news is that there are no secrets to it! These successful people depend heavily on their mentors or simply coaches. Isn’t it common sense? Just like how we have acquired knowledge from our school teachers. (The only difference being that school teachers do not teach us how to earn money.)

Successful entrepreneurs have mentors for the very same reason why Michael Jordan has coaches. Many coaches have helped and groomed Jordan into a basketball legend (Of course, most of it depends on Jordan’s hard work). In the same manner, you will also need coaches to make you success in whatever you do. You alone cannot possibly know everything by yourself especially in starting a home based business.

If you have coaches, they will show you latest examples of the successful home based businesses, fresh and latest home based business ideas or opportunity, latest online marketing business opportunities and teach you strategies to create a successful home based business of your own. Moreover, you will be exposed to new and exciting products ideas, multiple streams of revenue which you could generate. Most importantly, you can harness their experience to help you avoid costly mistakes.

As coaches are expertise in their own trade, they have many contacts and resources. With their experience, they can show you where you can obtain the most successful home based business opportunities, resources and contacts to aid in your internet marketing or online business. Therefore, you should not have any more worries of not knowing how to start off with your own internet marketing or online business. Whenever you have any queries or got stuck during the process, your coaches are the ones to guide you where and how to move on. Before you start off with your home based business, you can discuss your ideas and plans with your coaches. They will show and lead you to the path of success, clearing the entire impasse along the way. Who knows, you might just be the next owner of the most successful home based business!

In the next part of this article, I will continue to illustrate more benefits a coach can bring in helping you to create one of the most successful home based business which you have always wanted.

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.