Business news and Technology

A Few Things Ive Learned About Doing Business On The Internet

2009-02-08T06:44:00.009-08:00

A few things I've learned about doing business on the Internet!

I've learned that there are more programs, and e-books available than I have money to purchase.

I've learned that many, many of the programs and e-books are simply a rehash of another program, or e-book.

I've learned that there are many different sites where by joining a program as a free member. Most, but not all of the e-books that I've spent my money to purchase; can be downloaded for free.

I've learned that some, not all of the e-books that can be purchased are a total waste of time.

I've learned that it is possible to download so many e-books; that either they don't get read, or you'll spend so much time reading them that you don't get anything else done.

I've also learned that some of the ideas expressed in some of them are so important, that if you don't take the time to read them; you'll be spending not only dollars, but time needlessly.

I've learned: that you can spend so much time promoting so many different products; that none of the promotions get enough time to be successful. That shotgun marketing is a losing proposition.

I've learned there are more Internet Gurus than I have time to study, and they got that way because they focused their energy.

I've learned that no matter how attractive the next program, e-book appears; that you must narrow your vision to the one best program you have in your arsenal, and give it 100% of your energy if you expect to succeed.

I've learned that without an opt-in list, you're dead.

And last, and most important: I've learned; you must discover your niche, and work it until it's a success

Andy Macdonald owns and runs his own Link ="http://www.swiftmediauk.co.uk/website-design.php" target="_blank">uk website design business called Link ="http://www.swiftmediauk.co.uk" target="_blank">Swift Media UK, which incorporates Link ="http://www.swiftmediauk.co.uk/logo-design.php" target="_blank">custom logo design

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10 Ways To Keep Visitors On Your Site Longer

2009-02-08T06:44:00.007-08:00

The more time people spend at your web site, the more time you'll have to persuade them to buy your product or service. Below are ten powerful ways to keep visitors at your web site longer.

1. Provide your web site visitors with content they can't read anywhere else. People will stay longer at your web site to read the original content.

2. Remind your web site visitors they can print out your content. They may browse around your online store while it's printing.

3. Offer your web site visitors a freebie if they take the time to fill out your online survey. They'll be at the site longer and might buy something afterwards.

4. Offer your visitors free software that they can download right from your web site. While they are waiting they might read your ad.

5. Provide a huge online directory of information that your visitors could search. The directory must contain information your visitors would want.

6. Make sure all your web pages load fast or your visitors will leave fast. Time is precious; they won't waste it waiting for your site to load.

7. Tell your visitors what's offered at your web site at the very beginning. If people are confused about what's being offered they may leave too early.

8. Publish your web site professionally. People will get turned off and leave if they see a lot of spelling and grammar mistakes.

9. Make your site text easy to read. Most people won't strain their eyes trying to read text that is too small, light or bright.

10. Use headlines and sub headlines all over your your web site that will grab visitors attention. It will attract them to explore your web site longer.

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3 Effective Tactics Every Business Should Implement

2009-02-08T06:44:00.005-08:00

Do you remember your first day as a business owner? You were probably just like the rest of us... pretty darned happy and bit on the proud side. Yeah, back then we thought we could conquer the world. Now we're too busy conquering our own little corner of the world to pay a lot of attention to the rest of the world... unless it's to learn a few tips from successful marketers just like us who have made it big. Tips just like these... that will apply to every market - regardless of the product or service - and are great motivators to try something new. Yeah, you never know when the next idea will be worth a million pounds!

1. Create a Special Offer

A special offer is exactly that... an offer that is special. Normally, customers would not be able to purchase this product or combination of products, and once the products are gone... sorry!

You don't have to go out and order a bunch of new products to put together a special offer. It don't take a whole lot... just use what you've got. Grab a few items that are related, group them together, discount the price, and your customers will be excited to be getting a good deal. Think about it from your standpoint... you've sold three or four items rather than one. Yeah, combination offers are winning deals for everyone!

2. Address the Small Customer Groups

Niche markets are everywhere, right under your nose! Within the customer audience that you serve right now are groups of people who share common traits. Think about it... maybe you have a group who speaks Spanish, a group of teens, and a group of middle class family men and women.

Evaluate these classes of people, and discover the unique needs and desires they share. That will set you up to customize your advertising campaign directly to them. It's not hard to take your current ads, and make a few changes to adjust to the niches. They'll be impressed that you understand THEM, and the increase in your profits will be the best thanks you can get.

3. Set Up a Winning Referral Program

Successful marketers develop the ability to turn their customers into advocates. Often, they don't even have to directly ask customers to refer them to others. Their willingness to go the extra wins customer loyalty and support. Naturally, satisfied customers refer their friends and family to the place that will take good care of them.

Quality service and is the first step toward referrals, but you can easily take it one step further. Studies show that every satisfied customer tells three people about you. What would happen with a little incentive added to the picture? Yeah, a lot more. Give customers who refer friends a thank you - whether it's a discount, special gift item, or a simple thank you card - and watch the referrals spiral!

You can get two birds with one stone by implementing customer surveys. A few quick questions about what the customer does and doesn't like about your product, followed by a request for the names and addresses of friends and family who would benefit from the product, and you're all set to go with the contact information of a prospective customer!

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Web Sites that help you doing business in China: (3) Business Guide

2009-02-08T06:44:00.003-08:00

To do business in China, you need to know their law, culture and working style first before getting in. You may find following website useful in these area.

This HSBS webpage covers different topics in doing business in China. It talks about how to setup different type of business entities in China. It also has a section to discuss the taxation, include corporate tax, personal income tax and indirect taxes. You need to understand the legal system to run your company better. The HSBC webpage provides introduction on the advertising law and labour law.

Link ="http://www.hsbc.com.hk/hk/commercial/chinabiz/default.htm">http://www.hsbc.com.hk/hk/commercial/chinabiz/default.htm

In this China-Window.com website, you can find a lot of business culture and tips. You can know how to addressing Chinese. You can know how to handle business gift-giving issues in China. You can understand how important of business networks in China. You are advised to explore the website if you want to have a deep understanding on the business culture in China.

Link ="http://www.china-window.com/china_business/doing_business_in_china/index.shtml">http://www.china-window.com/china_business/doing_business_in_china/index.shtml

This is an Extract from Guide to Doing Business in China. Though it is dated as November 2004, it is a good reference. It talks about foreign investment management, import/export, taxation, foreign exchange, finance and account, staff recruitment, etc.

Link ="http://www.tdctrade.com/chinaguide/">http://www.tdctrade.com/chinaguide/

ChinaToday.com provides general information about China. It provides information about trade & investment, cities, entertainment, travel and weather. You can find all the basic information over there.

Link ="http://www.chinatoday.com/">http://www.chinatoday.com/

Isaac Chu is Project Director of Evinco Solutions Limited. Evinco provides innovative business softwares, include emarketing web solutions, email marketing software, e-catalog publishing software, invoicing software, and electronic cheque writer. Visit: Link ="http://www.evinco.com.hk">www.evinco.com.hk

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Web Sites that help you doing business in China: (2) Business Directories

2009-02-08T06:44:00.001-08:00

To do business in China, you need to work with some business partners. You can locate your buyers/suppliers thought the business directories. If you just send emails to ask for co-operation, you may suffer with Spam. You need to find reliable partners to work with and get rid of those fake partners. Here we list some famous business directories/portal, which can help you find your buyers/suppliers in China.

Alibaba

Famous Manufactures/Suppliers/Exporters/Importers Directories, you can find all your business needs here.

Link ="http://www.alibaba.com/">http://www.alibaba.com/

ChinaBig

It formed by China Union, PCCW Limited, R.H.Donnelley and INFOSPACE. It provides yellow page services and you can find different categorized company information, selling leads and buying leads.

Link ="http://www.chinabig.com/">http://www.chinabig.com/

Hong Kong Trade Development Council

TDC provides different business information, includes sourcing guide, business matching, market information and trade events. The sourcing guide covers China, Hong Kong and Taiwan and is one of the biggest sourcing guides in the region. tdctrade.com also provides news about Hong Kong business economy and China trade. It provides different languages support, include English, Chinese, Japanese, Deutsch, Francois, more.

Link ="http://www.tdctrade.com/">http://www.tdctrade.com/

Directory of Chinese Suppliers

It's an English directory listed over 250,000 Chinese suppliers in 30 categories.

Link ="http://www.chinese-suppliers-directory.com/">http://www.chinese-suppliers-directory.com/

China Supplier Directory

It's another directory, which lists China Suppliers. The directory is well organized. You can find details company information; include company background, address, and contacts.

Link ="http://www.tradebig.com/">http://www.tradebig.com/

China Business Directory

It is a business directory but with over 170,000 Chinese companies listed in English.

Link ="http://www.chinainfo.org/">http://www.chinainfo.org/

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Web Sites that help you doing business in China: (1) Search engine list

2009-02-08T06:43:00.020-08:00

Web Sites that help you doing business in China: (1) Search engine list

In this series of articles, we will talk about different web sites that are useful when doing business in China. We will also introduce different tools to facilitate your business.

According to latest research made in fourth quarter 2005, there are over 100 million Internet users in China. (China rank second just after U.S.) However, it just covers 7.9% of the population. More important is that 63% of these Internet users have performed online purchase. Over the past ten years, the growth rate of Internet user is 300%. We can expect that the online market in China have enormous potential.

We will introduce different search engines in China and Hong Kong. (Hong Kong is always the gateway for your business to get into China, so we will get it in count). If you want to get your website searched by 100 million Internet users, you'd better make submission to the following search engines. Most of these search engines welcome website in English too. It's much better if you have your website in Chinese.

You may find difficulties in submission to some of the websites if you can't read Chinese. You can try to email the web master about your site and leave them the related info, likes URL, site title, description, email address, etc. And you can submit to the Google & Yahoo directory first as some of the search engines will follow these two big players and crawled your website.

Baidu

Baidu is China's Google. It is the most popular search engine in China. To submit website to Baidu, click below:

Link ="http://www.baidu.com/">http://www.baidu.com/

Netease

Netease is another big search engine in China. Similar to Yahoo, it provides search engine and portals with different nformation/services.

Link ="http://www.163.com/">http://www.163.com/

Sina

Sina.com is targeted to serve the Chinese community, include China, Taiwan, and Hong Kong. It has different portal for different areas. Sina.com provides large number of services; include directories, search engine, blog, chatroom, etc.

Link ="http://www.sina.com.cn/">http://www.sina.com.cn/

Sohu

Sohu.com provides similar services as Sina.com. It has over 100 million registered users and has 250 million pages viewed daily.

Link ="http://www.sohu.com">http://www.sohu.com/

Timway

Timway is a Hong Kong based search engine. It also provides searching services to other Hong Kong's portal.

Link ="http://www.timway.com.hk/">http://www.timway.com.hk/

Google China/Hong Kong

Link ="http://www.google.cn/">http://www.google.cn/

Link ="http://www.google.com.hk/">http://www.google.com.hk/

Yahoo China/Hong Kong

Link ="http://chinese.yahoo.com/">http://chinese.yahoo.com/

Link ="http://www.yahoo.com.hk/">http://www.yahoo.com.hk/

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Office Supplies Do Not Have to Cost an Arm and A Leg

2009-02-08T06:43:00.019-08:00

Stocking up on your office supplies does not need to be a costly venture. Many businesses are able to benefit from purchasing discount office supplies on a regular basis. There are many places you can find office supplies at a excellent discount when compared to high priced stores. With the vast expansion of the World Wide Web, many websites offer discount office supplies that will help your business reduce the cost spent annually on these commonly used items.

Every business in today's busy world makes use of several things within the workday. For example, nearly all businesses make use of a printer. With owning a printer, comes the need of having to supply your business with printing paper, forms, labels, printer cartridges, and toner. Many online stores exist that can offer your company extensive savings of such discount office supplies, over the main chain store competition.

No matter your business, any of the discount office supply websites can provide you with many of your office needs. For example, major technology such as computers, software, presentation devices, business electronics, telephones, business cards and other electronic business needs. Try shopping online for your discount office supplies like office furniture, warehouse furnishings, or basic supplies like markers, pens, pencils, business headers, forms and the like.

When searching online for a discount office supplies store, there are a few things you will want to keep in mind. First, ensure that the website is owned by a reputable company, you should also look for specific policies that state their terms and conditions about the security of your contact information, return policies, and guarantees. Any reputable company will offer a money back guarantee on any item purchased upon their website. It is important that you be fully aware of this guarantee and the specified amount of time given to return your items.

Additionally, many of these online discount office supply stores will offer a discount when a business purchases items in bulk. This is absolutely ideal for any large business who wants to save money on their investments. You should also carefully look at the site for something displayed that tells you they are secure in all transactions. For example, a site might display they are secured by Geo Trust. This is extremely important, for the simple fact that the website has thought about the security of their customers enough to ensure that their information is highly confidential throughout the entire buying process.

Finally, you will want to make sure the discount office supplies website prominently displays contact information. This information should always include the company name, address, telephone number, and email. You may want to go ahead and telephone the company if you have any doubts about its reliability, they should have customer service representatives ready to help you.

Dawn Harris is an experienced writer that has written an extensive amount of published articles to date. For more information, visit her website at Link ="http://www.sprstr7427.com">http://www.sprstr7427.com and take a look at all the services Dawn can offer you all with high quality, originality, and an excellent price. Be sure to say hello and let her know you found out about her right here!

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Patent: Seven Ways To Keep You From The Wolves

2009-02-08T06:43:00.017-08:00

You have an invention or an idea for an invention. The first people you may hear about - or even may contact you - are from an invention development company. They advertise on radio and TV, and in magazines that cater to the inventive mind - and even some newspapers.

Invention development companies are private and public research companies that purport to help inventors develop, patent, and promote their ideas so they can be commercially licensed or sold. While many of these organizations are legitimate, some are not.

I state my stand on the use of such companies on my website - Link ="http://www.gadgets-gizmos-inventions">www.gadgets-gizmos-inventions,com. But, you may want to go that way anyway to develop your patent or invention. If that's the case, here are seven helpful tips for you to make smart patent and invention development decisions:

1. Learn About the Patent Process.

When you understand the basics of how to get a patent, you will know when invention marketers are making promises they, or the patent system, can't deliver. Knowing the steps to do a patent search, and what is required, as well as knowing what happens in the patenting process can only help you in making the right decision. You will have a better idea about whether the company you are talking to knows what they are doing for you - and not just their pocketbook.

2. Do Your Homework.

Check the organization's references, ask for credentials, and then check them. Ask them for statistics on how many successes they have had compared to how many total clients. They are required by law to offer you this type of information. In fact, the American Inventors Protection Act of 1999 gives you the following rights when dealing with invention promoters.

Before an invention promoter can enter into a contract with you, it must disclose the following information about its business practices during the past five years:

how many inventions it has evaluated,
how many of those inventions got positive or negative evaluations,
its total number of customers,
how many of those customers received a net profit from the promoter's services, and
how many of those customers have licensed their inventions due to the promoter's services.

This information can help you determine whether the promoter has been selective in deciding which inventions it promotes, and how successful the promoter has been. Ask for names of "successful" clients, and talk to them.

Invention promoters also must give you the names and addresses of all invention promotion companies they have been affiliated with over the past 10 years.
This information can help to determine whether the company you're considering doing business with has been subject to complaints or legal action.

You can call the U.S. Patent and Trademark Office (USPTO) at 1-866-767-3848, and the Better Business Bureau, the consumer protection agency, and the Attorney General in your state or city, and in the state or city where the company is headquartered to check them out.

3. Be Realistic.

Not every invention is patentable. Know that very few ideas - even the good ones - become commercially successful. Be wary of any developer willing to promote virtually any invention. If you are presented with the phrase - "We think your idea has great market potential" - beware, and take it for what it is - in a lot of cases, just a sales pitch.

4. Know Where Your Money Is Going.

Ask the organization how your money will be spent. Be on guard against large up-front fees and find out exactly how the money is spent. If the company gives you something like - "Our company has evaluated your idea, and now wants to prepare a more in-depth research report. It'll be several hundred dollars" - ask them if the idea is good enough for more research why don't they foot the bill.

5. Protect Your Rights.

DO NOT disclose your invention to a developer over the phone (or at any time) before first having them sign a confidentiality agreement. You could forfeit valuable patent rights. A sample confidentiality agreement is available on my website.

6. Track Your Invention's Progress.

If you decide to use an invention development organization, deal directly with the agent or patent attorney who will be handling your patent application. A lot of these type of firms outsource the work which is not good for you.

Many invention promotion firms also may claim to perform patent searches on your idea. Fraudulent invention promotion firms usually do patent searches that are are incomplete, conducted in the wrong category, or unaccompanied by a legal opinion on the results of the search from a registered patent attorney.

Because unscrupulous firms promote virtually any idea or invention without regard to its patentability - they may go ahead and market an idea for which someone already has a valid, unexpired patent. In that case, you may be the one subjected to a patent infringement lawsuit - even if the promotional efforts on your invention are successful. Most probably, the way the infringement suit is attracted is through a successful product.

7. Don't Get Discouraged!

The patent process can be very complicated, so you will probably need professional help. There are many good patent agents and attorneys that can help you. The U.S. Patent and Trademark Office maintains a nationwide register of attorneys and agents who meet the legal, scientific and technical requirements of the office.

The first step should be a patent search done by a reputable searcher. Your patent attorney can help with this, and should review the search for a package price, depending on the complexity of the invention.

Hang in there. It is a long and complicated process. But if your idea passes the initial search test and evaluation, there is a good chance you can receive a patent - in two or so years.

For information on registered patent attorney and agents, you may visit the USPTO's Office of Enrollment and Discipline Web site at Link ="http://www.uspto.gov/go/oed.">http://www.uspto.gov/go/oed.

Gary J. Cogley, JD, after being a musician, a TV Producer/Director/Writer, and an entertainment and IP attorney, now writes about all kinds of gadgets, gizmos and inventions. He also gives tips and info on patents, and scams to watch out for. Get info at:
Link ="http://www.gadgets-gizmos-inventions.com">http://www.gadgets-gizmos-inventions.com

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So You Have An Idea - So What?

2009-02-08T06:43:00.015-08:00

Okay, you have come up with a fantastic idea that will solve all the woes of the universe - or at least make you $millions$ - what do you do? How do you start?

Well, the first thing to do is get all your ducks in a row. Start a hard-bound journal and put everything in writing. Draw pictures or diagrams of how your invention works. Date and sign each page, and get someone you trust to look at it and date and sign too.

Then, get ready to spend some money. Sorry, but it takes money to get things going. If your idea is worth anything - which you can find out through the process - you should file for a patent.

A patent gives you 20 years from the filing date the right to keep others from making or selling your invention without your permission. That gives you time to develop and sell your invention in the marketplace. Believe me or not, getting the patent may be the easiest part. About 99% is in the development and marketing of the idea.

To get a patent it is best to find a registered patent attorney or agent. I know, attorneys are sharks. But in this case, their knowledge will get through the government bureaucracy a lot faster and easier than you can by yourself.

To give you an idea of what you are going to face when getting into the patent process, here are some FAQ's to help you understand better - maybe.

PATENT FAQ's

Q: What do the terms "patent pending" and "patent applied for" mean?

A: They are used by the inventor - or his manufacturer or seller of his product - to inform the public that a patent application has been filed with the Patent and Trademark Office ("USPTO"). You can be fined if you use these terms falsely and deceive the public.

Q: Is there any danger that the USPTO will give others information contained in my patent application while it is pending?

A: No. All patent applications are kept in strictest secrecy until the patent is issued. After the patent is issued your file is made available in the USPTO Files Information Room for inspection by anyone and copies of the files may be purchased from the USPTO. (The Files Information Room is where searchers go to prepare their patent searches - which are needed to complete a patent application)

Q: May I write directly to the USPTO about my application after it is filed?

A: The USPTO will answer questions regarding the status of the application, whether it has been rejected, allowed, or pending action. BUT, if you have an attorney representing you, the Office will not correspond with both of you. The best practice is for all comments be forwarded through your attorney. Another thing - it can take some time before your application will be assigned to an examiner, and what is called an "office action" will happen. Patience is needed.

Q: Do you actually have to go to the USPTO to do business with them?

No. Most business with the USPTO is done in writing and through correspondence. Interviews with Examiners are sometimes necessary (and sometimes helpful) but a lot of them are done by phone by your attorney. The expense of a trip to D. C. is seldom necessary.

Q: If two or more persons work together to make an invention, who gets the patent?

A: If each person had a share in the ideas forming the invention, they are considered joint inventors and a patent will be issued jointly if they make it through the application process. BUT, if one person provided all the ideas for the invention - and the other person(s) has only followed instructions in making the invention, the person with the ideas would be considered the sole inventor - meaning the patent application and the patent itself shall be in his/her name alone.

Q: What if one person supplies all the ideas to make an invention - and another person either employs him and/or comes up with the money to build and test the invention - should the patent application be filed jointly?

A: NO. The application MUST be signed by the TRUE INVENTOR - and filed with the USPTO in the true inventor's name. This is one time money doesn't count. It is the person with the ideas - not the employer - not the money man - that gets the patent. If the greedy, blood-sucking, viperous, money-grubbing, creatively non-contributing money man or boss wants any part of the invention, he would have to get his hold through a contract or license on the invention - not the patent itself.

Q: Does the USPTO control the fees charged by patent attorneys and agents for their services?

A: No. This is strictly a matter between you and the attorney or agent. Fees vary - as do attorneys and agents. You should feel comfortable with your choice. It would be best to ask up front for estimates on charges for: (a) a patent search; (b) The preparation of a patent application; (c) drawings to accompany the application; and, (d) the prosecution of the application before the USPTO. (NOTE: an attorney can only give you estimates. The cost of a search, and the application with drawings is pretty well determinable up front. But the prosecution step depends on the Examiner and what he does and doesn't like about your application. There may be amendments that have to be made (expect at least one), and negotiations to transpire, which all take time and effort from the attorney)

Q: Will the USPTO help me pick an attorney or agent to do my search or prepare my application?

A: No. The USPTO cannot make this choice for you. The Office does maintain a list of registered attorneys and agents. Also some bar associations have lawyer referral services that may help you. If you have a general attorney, although he can't help you directly if he isn't a registered attorney with the USPTO, he may help you with a referral.

Q: Will the USPTO advise me about whether or not a certain promotion firm is reliable and trustworthy?

A: No. The USPTO has no direct control over such organizations. While the USPTO does not investigate complaints about invention promoters or promotion firms - or get involved in any legal proceedings relating to such firms - there is a public forum to publish complaints against such firms. The protections you have from patent promotion firms is spelled out in laws passed in 1999. These promotion firms have specific duties of disclosure under this act. [See Link ="http://www.gadgets-gizmos-inventions.com">http://www.gadgets-gizmos-inventions.com for more info]

Q: Are there any organizations that can tell me how and where I may be able to get some assistance in developing and marketing my invention?

A: Yes. Organizations in your community - such as Chambers of Commerce and banks - may be able to help. Many communities have locally financed "business incubators" or industrial development organizations that can help you locate manufacturers and vulture (I mean Venture) capitalists that might be interested in helping you. Do your homework - check, check, check - and be careful.

Q: Are there any state government agencies that can help in developing and marketing my invention?

A: Yes. Nearly all states have state planning and development agencies or departments of commerce and industry that seek new products and articles to manufacture, or processes to assist existing manufacturers and communities in the state. A lot of these agencies are online - or at least have listings in telephone books. If all else fails - write your state governor's office.

Q: Can the USPTO help me in developing and marketing my invention?

A: No. the USPTO cannot act or advise concerning any business transactions or arrangements that are involved in the development and marketing of an invention. They will publish the fact that your patent is available for licensing or sale in the Official Gazette - at your request and for a fee.

Q: How do I start?

A: First, of course, you have to have an idea. Then that idea has to be put down in a form so that it can be understood at least by a person that is experienced in the field of endeavor that concerns the invention. This usually is a written description and a drawing. Whatever it takes to explain the invention.

The next step is a patent search - to see if someone else has come up with a similar idea. A lot of times this is the case. And, a lot of times your idea may be enough of an improvement to be unique enough for a new patent. There are search firms available - and most patent attorneys have access to their own favorites. It is best to commit only to the patent search at first. Do not sign a contract for anything else just in case the search finds your invention with no way to find "novelty" and "non-obviousness."

If the search report looks good (watch out for the hype artists), it is time for commitment. Choose your attorney and let it fly.

It is possible to file a patent application by yourself - but really - it is like you going into a restaurant in Paris, France that is, and trying to order from the menu. unless you know and speak the language, you won't get what you want. In the case of a patent, the USPTO will throw you out - even if your invention is great - because the application does not speak their language.

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Classified Advertising In Local Markets

2009-02-08T06:43:00.013-08:00

Even with the growth of online classifieds and the increase in popularity in sites such as Craigslist, newspaper classifieds are still the preferred method of advertising for many wishing to sell unwanted items. This is evident in the number of print classified ads listed daily in newspapers and magazines throughout the country and worldwide. These advertisements may cost more than those which can be posted on the Internet, however, posting your classified advertisements in the newspaper will likely increase the chance of a sale as you are reaching a more local market.

It is unlikely that someone from across the country or around the world will want to purchase your used furniture, lawn mower or Kenmore washer and thus much of the traffic that would come to your Internet ad would be useless. However, due to the fact that most newspapers that feature classified advertisements have a local circulation, the chances of completing a sale through the newspaper greatly increase since the product can easily be obtained.

On the contrary, if you were to find a motorcycle for sale online and the seller lived in Florida while you resided in California, it would be very difficult to purchase the item. Furthermore, with the decreasing costs of advertising in the newspaper, many people find it a viable method of advertising the products they no longer need.

Another reason why classified advertisements are so popular in newspapers is because of the reach that many larger newspapers get. For example, a newspaper such as the Boston Globe, had hundreds of thousands of readers throughout the Boston area and throughout Massachusetts and southern New Hampshire and Vermont. Hence, if you are selling a product such as a car or other high-ticket item, many of these people may be interested in traveling a bit of a distance to make a purchase. By advertising in the classifieds section of larger newspapers, you are reaching an even greater number of potential customers within your local market.

Internet classified advertising does have some benefits such as it is very easy to post your ad and in certain circumstances your Internet classified advertisement may attract more visitors than your advertisement in the newspaper. Therefore, it is sensible to advertise your product on the Internet as well. By combining your newspaper and Internet advertising, you are sure to reach a large number of potential buyers in both the local and distant markets.

There are two types of classified advertisements which I would strongly recommend advertising primarily in newspapers. These types of advertisements would be promoting the sale of automobiles and low paying jobs. Many newspapers have a special section for these products/services and thus advertising these products in the newspapers is likely to reach more buyers in the local market.

Advertising higher paying jobs and hard to find items, such as a classic car, can do well on the Internet since people may be willing to travel far from home for these types of jobs or to acquire a unique item. If you are selling smaller sized items, such as jewelry, clothing or books, they can be sold utilizing online portals such as Ebay, since these products are fairly easy to ship to their destination and finding a local buyer is not as imperative.

In conclusion, you need to determine the best method of advertising for your item. Newspaper classifieds should always be considered since this medium can very often bring you the customer you are looking for to complete the sale. Depending on the type of item you are selling, advertising in the newspaper classifieds and locating a buyer within your locality can very well be the key to a successful sale of your item.

Janet Doherty Link ="http://www.seethisitem.com">Newspaper Classified Photos Enhance Your Newspaper Classified Ad with Photos. Visit our Website for details on our 'Share a Selling Story' Contest.

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Top 10 Proven Classified Ad Selling Tips To Guarantee A Successful Sale

2009-02-08T06:43:00.011-08:00

It's Spring Cleaning Time! The weather is getting warmer and it is time to dig through those closets, garages and storage areas and turn your unused items into cash! Traditionally, this is the busiest time of the year for classified advertising. Motor vehicles and recreational vehicles are especially big sellers during the warm weather. If you are considering selling, now is the time. Hundreds of potential buyers are out there reading the Sunday morning newspaper every week, so take advantage of the opportunity to sell your items. Below you will find some great tips to help you get the ball rolling.

1.PREPARE: Determine the items around your home that you no longer need. Once you have collected these items, confirm that they are in working order and in good selling condition. If items have been in storage for a long period of time, you may need to clean them up to make them more attractive to potential buyers.

2.RESEARCH: After all items are collected, do your research. Determine the value of your items and decide whether it would be worth you time and effort to place a classified ad. Some things will do well on their own while others may do better in a garage sale setting. If certain items do not have enough value to justify placing an advertisement and you are not interested in hosting a garage sale, donate these items to a local charity for a nice tax deduction.

3.WHERE TO ADVERTISE: Once you have the items sorted out, you need to decide the best method of advertising. Most items will do best advertised in your daily newspaper since you will be able to reach a local audience. Online classifieds generally do not receive as many local buyers, but most are free so you may want to place an ad there as well just to cover all the bases. If you are selling a larger item such as a car, motorcycle, motor home, etc., you will also want to place prominent for sale signs on the items themselves. You can also utilize bulletin boards in your local community to post a free advertisement.

4.DRAFTING YOUR AD: What are the most attractive selling features of your items for sale? Decide which of these features you want to highlight in your advertisement. Look for classified ads for similar items to get an idea of how they are written. Check out the competition to see how your item is better or different than the items that will be running along side your ad.

5.WRITING YOUR AD: Create a catchy title to get your reader's attention. This will spark an interest in your classified ad. Always include the brand name when applicable. Price should only be included in the title if it is an obvious selling point. Next, you need to write the body text of your ad and entice buyers even further with the details. Make your description clear and factual. Provide specific details in what it is that makes your item stand out from the others. Be honest in your representation and do not make your item appear better than it actually is. Always include the price in your ad. Take some time to view other classified ads for similar items in your newspaper. This will help you determine a fair asking price for your item. Keep in mind, just because you paid $1,500 for your dining room set, does not mean you will receive that much for it on resale. Be realistic in your expectations. Furthermore, if you will only be available during certain times of the day to discuss your item, make a note of this in your advertisement so buyers know the best time to reach you. If possible, include your email address.

6.INCLUDING PHOTOS: A picture is worth a thousand words. Some local newspapers provide you with the option to include photos with your classified ad. Be sure to include the photos! When buyers have the opportunity to see an article for sale they have a higher degree of interest and are more likely to buy when they follow up by telephone or email to ask questions or to get more information. If your newspaper does not offer photos or the photo option is too expensive, you can use an online classified photo hosting service. Visit Link ="http://www.seethisitem.com">http://www.seethisitem.com for information on how to include free digital photos with your Link ="http://www.seethisitem.com"> newspaper classified ad.

7.COMMUNICATING WITH BUYERS: Do your best to be available when customers call for information regarding your item. Be polite and helpful and answer all questions to the best of your knowledge.

8.SCHEDULING APPOINTMENTS: If you receive numerous calls for your item, be sure to space out the appointments so that you will have enough time to spend with each buyer and your appointments will not overlap. Safety tip: Whenever possible, have someone home with you when a buyer is coming over to look at your item. You really can never be too careful when dealing with people you have never met before.

9.NEGOTIATION: Decide before you negotiate, the lowest amount you will be willing to accept for your item. This will assure a smoother negotiation process.

10.PAYMENT: Never accept a check for your item. You should only accept cash or money orders. If a buyer decides they want the item, but they do not have cash on them, always take a deposit to hold the item until they are able to come back. Be sure to set a deadline for them to return with the balance due. Even though you have a deposit, do not stop showing your item since the deal is not final until you have the cash in your hand. If someone else is also interested, tell them you just received an offer, but you will be happy to take down their name and number in case the deal falls through. This will give you more options should the original buyer back out of the sale.

That's it! Keep these selling tips in mind and you will be on the road to a successful sale. Take your time, be thorough and most of all have fun! If you follow the steps outlined above, you will be turning your unused items into cash in no time.

Have a Link ="http://www.seethisitem.com"> Classified Ad Selling Tip or Story of your own to Share? Submit it to us and be eligible to win our contest. Your submission may also be published on our website! Visit us at Link ="http://www.seethisitem.com">http://www.seethisitem.com for details. All entries must be received by 7/31/06.

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Accounting: Understanding Your Assets

2009-02-08T06:43:00.009-08:00

Current assets are the key assets that your business uses up during a 12-month period and will likely not be there the next year. The accounts that reflect current & long-term assets are:

Cash in Checking: Any company's primary account is the checking account used for operating activities. This is the account used to deposit revenues and pay expenses. Some companies have more than one operating account in this category; for example, a company with many divisions may have an operating account for each division.

Cash in Savings: This account is used for surplus cash. Any cash for which there is no immediate plan is deposited in an interest-earning savings account so that it can at least earn interest while the company decides what to do with it.

Cash on Hand: This account is used to track any cash kept at retail stores or in the office. In retail stores, cash must be kept in registers in order to provide change to customers. In the office, petty cash is often kept around for immediate cash needs that pop up from time to time. This account helps you keep track of the cash held outside a financial institution.

Accounts Receivable: If you offer your products or services to customers on store credit (meaning your store credit system), then you need this account to track the customers who buy on your dime. Accounts Receivable isn't used to track purchases made on other types of credit cards because your business gets paid directly by banks, not customers, when other credit cards are used.

Inventory: This account tracks the products you have on hand to sell to your customers. The value of the assets in this account varies depending upon the way you decide to track the flow of inventory into and out of the business.

Vehicles: This account tracks any cars, trucks, or other vehicles owned by the business. The initial value of any vehicle is listed in this account based on the total cost paid to put the vehicle in service. Sometimes this value is more than the purchase price if additions were needed to make the vehicle usable for the particular type of business. For example, if a business provides transportation for the handicapped and must add additional equipment to a vehicle in order to serve the needs of its customers, that additional equipment is added to the value of the vehicle. Vehicles also depreciate through their useful lifespan.

Accumulated Depreciation Vehicles: This account tracks the depreciation of all vehicles owned by the company.

Furniture and Fixtures: This account tracks any furniture or fixtures purchased for use in the business. The account includes the value of all chairs, desks, store fixtures, and shelving needed to operate the business. The value of the furniture and fixtures in this account is based on the cost of purchasing these items. These items are depreciated during their useful lifespan.

Accumulated Depreciation Furniture and Fixtures: This account tracks the accumulated depreciation of all furniture and fixtures.

Equipment: This account tracks equipment that was purchased for use for more than one year, such as computers, copiers, tools, and cash registers. The value of the equipment is based on the cost to purchase these items. Equipment is also depreciated to show that over time it gets used up and must be replaced.

Accumulated Depreciation Equipment: This account tracks the accumulated depreciation of all the equipment.

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Business Owners: How To Keep Your Books Ready For The IRS

2009-02-08T06:43:00.007-08:00

As a business owner, you should deposit all business receipts in a separate bank account. If possible, you should also make all disbursements by check. In regard to all business entities, with the exception of corporations, a disbursement from the business account is not necessary to qualify the expenditure as a business expense. A check written on a personal account for business purposes will qualify if that expense is otherwise allowable. It is important to document both business income and business expenses.

Write checks payable to yourself only when making withdrawals of income from your business for your own use. Avoid writing business checks payable to cash as it is important to identify which disbursements are business and which are personal. In the event of an IRS audit, this is an area that will get close scrutiny. The IRS auditor will not only look at each check to see to whom it was paid, but will also look at the reverse of the check to see by whom and how the check was endorsed. If you must write a check for cash to pay a business expense, include the receipt for the cash payment in your records. If you cannot get a receipt or a cash payment, put a statement in your records at the time of the transaction to explain the payment.

Get receipts for all business expenditures. For all business trips, make sure always to get receipts from hotels and motels. Toll receipts can also help to substantiate travel expenses. Obtain receipts from the post office when you purchase stamps and mail larger envelopes and packages. You should establish a petty cash fund for small expenses. All business expenses paid by cash should be clearly substantiated by documents showing their business purpose.

Support your entries with sales slips, invoices, canceled checks, paid bills, duplicate deposit slips, and any other documents that explain and support entries made in your books. File these materials in a safe place. Memorandums or sketchy records that approximate income, deductions, or other items affecting your tax liability will not be considered adequate by the IRS. Remember, where the IRS is concerned, the burden of proof is on the taxpayer. You will not be given the benefit of the doubt.

Classify your accounts by separating them into five groups:

1. Income
2. Expenses
3. Assets
4. Liabilities
5. Equity (net worth).

For your assets, record the date of acquisition, cost or other basis, depreciation, depletion, and anything else affecting their basis. Basis is the amount of your investment in a property for tax purposes.

Keeping Records: You must keep the books and records of your business available at all times for inspection by the IRS. Records must be kept as long as they may be needed in the administration of any Internal Revenue law. Keep records supporting items reported on a tax return until the period of limitations for that tax year has expired. Usually, this is the later of:

1. Three years after the date your return is due or filed; or
2. Two years after the date the tax was paid.

However, you should keep some records indefinitely. For example, if you adopt the last-in first-out (LIFO) method of valuing your inventory or change your accounting method, records supporting these decisions and approvals from the IRS may be needed for an indefinite time.

You should also keep records that support your basis in property for as long as they are needed to figure the correct basis of your original or replacement property (including capital improvements). Keep copies of your tax returns. They will help you in preparing future tax returns and in making computations if you later file an amended return or a claim for a refund.

Using Microfilm For Recordkeeping: Microfilm and microfiche reproductions of general books of accounts (such as cash books, journals, voucher registers, and ledgers) are accepted by the IRS for recordkeeping purposes if they comply. If your micrographic system does not meet the requirements of Revenue Procedure 81-46, you may be subject to penalties.

Using Computerized Recordkeeping: If you maintain your records with an automated data processing system, you must be able to produce legible records from the system to provide the information needed to determine your correct tax liability. You must keep a complete description of the computerized portion of your accounting system. This documentation must be sufficiently detailed to show the applications being performed; the procedures used in each application; or the controls used to ensure accurate and reliable processing; and controls used to prevent the unauthorized addition, alteration, or deletion of retained records. These records must be retained for as long as they may be material in the administration of any Internal Revenue law.

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A Crash Course On Understanding Financial Statements

2009-02-08T06:43:00.005-08:00

Businesses operate to achieve various goals. To meet these goals a business must achieve two primary objectives: To earn a satisfactory profit and to remain solvent (be able to pay its debts). If a business fails to meet either of these primary objectives, it will not be able to survive in the long run.

Financial statements are accounting reports used to summarize and communicate financial information about a business. Three major financial statements - the income statement, the statement of changes in financial position, and the balance sheet - are used to report information about the business's primary objectives. These financial statements are the end result of the accounting process. Each of them summarizes certain information that has been identified, measured, recorded, and retained during the accounting process.

Income Statement: An income statement is a financial statement summarizing the results of a business's earnings activities for a specific period of time. It shows the revenues, expenses, and net income (or net loss) of the business for this period. Revenues are the prices charged to the business's customers for goods and services provided. Expenses are the costs of providing the goods or services. The net income is the excess of revenues over expenses; a net loss arises when expenses are greater than revenues.

Statement of Changes in Financial Position: A statement of changes in financial position is a financial statement summarizing the results of a business's financing and investing activities for a specific time period. The results of the business's financing activities are shown in a "Sources" section of the statement; this section includes sources from operations and other sources.

Balance Sheet: A balance sheet summarizes a business's financial position on a given date. It is alternatively called a statement of financial position. A balance sheet lists the business's assets, liabilities, and owner's equity.

Assets: Assets are the economic resources of a business that are expected to provide future benefits to the business. A business may own many assets, some of which are physical in nature, such as land, buildings, supplies to be used in the business, and goods (inventory) that the business expects to sell to its customers. Other assets do not possess physical characteristics, but are economic resources because of the legal rights they convey to the business. These assets include amounts owed by customers to the business (accounts receivable), the right to insurance protection (prepaid insurance), and investments made in other businesses.

Liabilities: Liabilities are the economic obligations (debts) of a business. The external parties to whom the economic obligations are owed are referred to as the creditors of the business. Usually, although not exclusively, legal documents serve as evidence of liabilities. These documents establish a claim (equity) by the creditors (the creditors' equity) against the assets of the business. Liabilities include such items as amounts owed to suppliers (accounts payable), amounts owed to employees for wages (wages payable), taxes payable, and mortgages owed on the business's property. A business 'may also borrow money from a bank on a short or long-term basis by signing a legal document called a note, which specifies the terms of the loan. Amounts of such loans would be listed as notes payable.

Owner's Equity: The owner's equity of a business is the owner's current investment in the assets of the business. For a partnership, the owner's equity might be referred to as the partners' equity; for a corporation, stockholders' equity. The owner's equity is affected by the capital invested in the business by the owner, by the business's earnings from its operations, and by withdrawals of capital by the owner of the business.

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6 Ways To Avoid Being Scammed When Buying A Business Opportunity

2009-02-08T06:43:00.003-08:00

When we decide to pursue our dreams, to go for what we truly want instead of settling for whatever comes along, we automatically become vulnerable to being taken advantage of. Dreams are often so fragile and yet so formidable that they're easily trampled on or abandoned. So whenever someone comes along who tells us what we so much want and need to hear, we can be like putty in their hands.

Following a dream can blind us to what would otherwise be the most obvious of hucksters. We've met countless people who purchased business opportunities or signed up for multilevel programs they had no business getting involved in because "it sounded so good." Even worse are the many painful stories we've heard from people who were taken in by unscrupulous partners, investors, agents, or reps who seemed to be the "answer to all their prayers." If you're a stay-at-home mom, a senior citizen, someone with a disability, unemployed, seeking a second income, or a college student, you are even more likely to be victimized, according to the Council of Better Business Bureaus.

Make sure you don't get taken. Whenever you hear someone saying the things you've been yearning to hear or things that sound so good you never dreamed you'd hear anything like them, let it be a warning signal that sets off an alarm in your head with bells, whistles, and bright shiny lights saying "Proceed with Caution." For example, If someone requires you to sign a two-year exclusive distribution contract, you're giving up all other opportunities during that period.

With this image in mind, here are some guidelines you can use to protect you and your family from the tempting sights and smells of opportunity knocking:

1. Don't make decisions about opportunities from your heart alone. Run all such "offers" through careful, objective scrutiny.

2. Always arrange to take the time you need to make an objective informed decision. Do not let yourself be pressured into acting immediately. In fact, the more someone pressures you to act this very minute, the more suspicious you should be. My wife once had a salesperson tell her, for example, that she had to sign a contract that very day after a thirty-minute phone conversation or they could not proceed. We ran like a couple of rabbits. What kind of company would want to do business with someone who would make a decision like that on the spot?

3. Don't be tempted by special offers that prevent you from making an objective, informed decision, for example: "My prices go up tomorrow. This discount only applies today." Fine. Find out what the price will be once you've had the time you need to make an informed decision and consider that paying the difference will be well worth the investment. If the cost at that time will be prohibitive, look elsewhere.

4. Do not do business with any company or individual that refuses to give you the names, addresses, and telephone numbers of other people they have worked with.

5. Never, never ignore that little voice in your head or that little twinge in your stomach that's telling you to proceed with caution. That's your intuition and if you don't listen to it, later you'll be saying, "Something told me this was too good to be true. Why didn't I listen!" If you have any doubts, wait. Gather more information. Give your doubts time to surface so you can either dismiss or address them with confidence.

6. Ask yourself, what's the worst thing that could happen? Sometimes an offer sounds so good, you just want to throw caution to the wind and go for it. Before you do, however, make sure you're willing to live with the worst thing that could happen. For example, if you impulsively send off $100 for a guidebook, the worst thing that could happen might be that it would sit on your bookshelf unused. But if you buy a $10,000 business opportunity at an expo, that could set your family finances back more than you can afford.

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Emerging Markets And The Importance Of Translating Your Business Message

2009-02-08T06:43:00.001-08:00

Believe it or not, only 39.4% of the world's population can understand the English language. What does this mean for the internet marketer? Basically, it means that you're losing 60.6% of your audience.

Everyone who has an online business is delivering their message in English. Sales pages are written in English. Ebooks and special reports are written in English. Instruction manuals for scripts and software programs are written in English. Web pages are written in English. Links are written in English.

How can 60.6% of the world be able to understand any component of your marketing campaigns then?

The solution is simple, but it's something that is not as widely implemented as much as one would expect. It's translation. You have to translate the carriers of your business message in languages that other people from other cultures will be able to understand. This way, you'll be able to conquer such segments of the market.

Translating your business messages into every known language in the world would be a logistical nightmare, however, not to mention expensive since you'll be outsourcing the translation jobs (unless, of course, you're multilingual master).

It will be best to focus on the language germane to some emerging markets, markets which are at the brink of a commercial online revolution. What are these markets?

- Japan. The Japanese market is a fast emerging power in internet marketing. People there are quickly discovering the earning potentials of the World Wide Web. The Japanese people are voracious feeders of knowledge. They want to gain every bit of information they can find. This makes them the perfect market for information products.

- China. The Chinese market is slowly opening its doors to the internet. Where once it was limited to the government-controlled intranet, China's new open door policy is leading to a slow but certain entrance of Chinese players in internet marketing.

- Spain/Mexico/Portugal. Spanish is one of the oldest languages in the world, and around a quarter of the world's population can understand the said language. Offering some translated pages and products in Spanish will help you corner this sizable market and get the head start on your competition.

It's quite unbelievable to think that close to 95% of online businesses haven't tapped into these emerging markets. They refuse to deliver their business messages in a language other than English, when such an approach is truly limiting their potential audience.

In an interview conducted by MarketingSherpa, one of the internet's leading online business research firms, Peter Davis, owner and operator of Link ="http://www.tpp.com">www.tpp.com , admitted that his enterprise experienced a tremendous upswing ever since he offered his newsletter in the Chinese language. His business is engaged in the licensing of mobile software technology for handheld manufacturers, and seeing as how China is one of the world's biggest manufacturers of handheld devices, he decided to translate his business messages in Chinese. As a result, his newsletter circulation increased by 47%. Currently, the Chinese version of his business' newsletter account for 80% of the downloads.

The fact that business messages are rarely translated to a variety of languages should be a plus for your enterprise. Since no one else is attempting to corner the big non-English speaking markets, you'd have less competition in securing some sales from them. Translation services can easily be procured from freelancing websites such as Link ="http://www.rentacoder.com">www.rentacoder.com , Link ="http://www.elance.com">www.elance.com , Link ="http://www.scriptlance.com">www.scriptlance.com , Link ="http://www.guru.com">www.guru.com and Link ="http://www.getafreelancer.com">www.getafreelancer.com . The price may vary but good deals can be found here and there.

If you're looking for a marketing approach that's sure to garner a lot of sales, then do consider catering to the non-English speaking market as soon as possible, and leave your competition eating your dust.

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How To Buy A Home At An Auction?

2009-02-08T06:42:00.066-08:00

Go to an auction site, bid for a property you like, give the down payment, and move in to your new home. If buying a home from an auction is as simple as this, then we don't have anything to talk about. However, bidding for a property is not a simple matter. You need to consider all the factors that are involved in the whole process. Sure, you need to do every step above but the unmentioned steps are often the most difficult part of the process. Here are those steps.

Know What You Can Afford.

It is nice to look at houses listed in the auction brochures. But no matter how deep you fall in love with any of the houses on the list, everything simply boils down to what you can afford. So, before anything else, know your financial capability. Buying a home at an auction is a big step in realizing your dream to become a homeowner but that does not end there. You are responsible in keeping the payment for your mortgage up to date. Identify your present and future financial standing to decide which house you can afford.

Go To The Listings.

Now that you have a price range in mind, it is time to go through the brochures and look for the house that fits your budget. The key here is sticking to what you can afford. It is useless to buy the house you really want and lose it in a couple of months because of foreclosure. It is important to have enough savings before you plan to buy a house. This way, you increase your chances of buying better and more expensive property.

Do Your Research.

A house is sold at an auction because of two reasons: (1) the owner of the house is unable to pay for the mortgage and the house is taken back by the lender through foreclosure and (2) if the owner of the house cannot sell the property and has to seek the help from an auction company. Know the background of the property you are interested in. Schedule a visit so that you know what you are bidding for. Remember these 3 words: Location, location, location. Not being able to afford a first class neighborhood doesn't mean that you have to settle for a house in a crime-ridden area. Bid for a house that is accessible to your daily needs.

Once you have done these 3, it is time to go to the auction. Make sure that you have money on hand as auction houses require the winner to pay at least 10% of the total price as a down payment.

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Top Reasons Why You Should Hire A Professional Charity Auctioneer

2009-02-08T06:42:00.065-08:00

A major factor in the success of every charity auction comes from the auctioneer who can make the most undesirable auction good into something that's worth, not necessarily a fortune but a significant amount of money. While many talented volunteers can excite the audience, acquired skills of a professional charity auctioneer can make a big difference. Read on and you'll know why hiring a professional charity auctioneer is worth the investment.

A professional charity auctioneer does what he knows best: he connects with the audience, raises the money and sells items as high as possible for your cause. While in the real sense, the bidders have all the control over the final price of each auction goods on sale, a good auctioneer can stimulate the crowd to bring up the cost of the goods by bidding higher. Other volunteers and celebrities can raise the bidders to their feet but it takes more than applause, smiles, and laughs to raise a good amount of money; a task that only he can do.

It does not end here. Not because you see him only as the person who stands on the stage and calls in the bids means that his task is limited to his podium. A professional charity auctioneer can give you useful insights and help you plan better the event that very few members of your team can match.

He is not the planner though, but his experience in hosting the event will ensure that it will go smoothly as possible. Since the auctioneer participates all throughout the planning, he becomes part of the team. This is important since no charity auction will succeed without a good plan and organization. And no charity auction will do exceptionally well without someone who really knows the correct approach on every aspect of what he is doing.

A professional charity auctioneer may cost you some amount but the service he provides is worth more than he charges. Besides, there are auctioneers who will willingly give their service to charity auctions free of charge or for a very small amount.

Take note: a traditional auctioneer has high skills in his on rights but there is a special level of skill required when calling bids for a non-profit auction. The expertise combined with the passion and understanding to the mission and objectives of the clients are something you can only expect from a charity auctioneer.

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Winning Over Dummy Bidders And Snipers

2009-02-08T06:42:00.063-08:00

Dummy bidders are individuals who sit among the auction crowd and pose as buyers. They are often employees of the auction house or agents that sponsor the sale of the item. They are used to create competition with real bidders or to infuse interest in items with little or none. Dummy bidders are instructed to bid for auction goods at a pre-determined amount.

Auction snipers on the other hand are real bidders that watch for a particular item and bid at the very last possible moment to emerge as the highest bidder. In online auctions, online sniping is usually done using a software. This software allows someone to win an item by setting it up to bid for the very last moment before the auction closes.

It is frustrating to encounter dummy bidders and auction snipers at auction houses especially if you really want to win an item or if you want to buy something at the very lowest price. How to win over them, you ask? Consider the following suggestions

Choose a reputable auction company. While dummy bidders can be at every auction, not all auction houses have them. Read feedbacks and testimonials of previous bidders. They are the most reliable source of information.

Identify the dummy bidder. This is quite a task since you need to focus on watching for your item as well. But, if you happen to identify some of them among the crowd, then you have a good chance of winning over them. Since their main role is to drive the price of an auction lot up, they will stop at a certain price limit. You can either hold your bid until the last possible second or engage them by bidding on the amount you can afford. You can jump bid but this is like saying that you allow dummy bidders to beat you in their game. Well, if the item is more important to you than its final price, then you can always bid higher than them. They will eventually stop bidding anyway.

Bidding snipers can only be beaten by becoming a sniper yourself. To become one, remain watchful and hold back your bid. At the very last moment or when the auctioneer is about to rap the hammer down, place your bid.

Also try throw bidding. This is done by bidding outside the increments. This will confuse bidders and will put the auctioneer off-guard.

Ignoring that they exist is not the best way to win them over. You must engage and fight to win your item without breaking your budget.

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Vehicle Auction FAQ

2009-02-08T06:42:00.061-08:00

What Is A Vehicle Auction?

A vehicle auction is a type of auction that specializes in selling all types of vehicles such as cars, trucks, SUVs, and motorcycles.

Are Auction Houses Selling Vehicles 90% Off Their Current Market Value?

Buying a car 90% off its market value sounds unbelievable but it is actually true. An auction is a very volatile marketplace and the price depends on the willingness of the bidders to buy a vehicle for a certain price. If you're the only person interested in a certain vehicle, you can buy a car at the cheapest price. Competition can drive the price of the car higher that its current market value, though. Driving home your next car at a dirt cheap price may be possible but is not an everyday affair.

Where Are Vehicle Auctions Held?

Vehicle auctions are being held all across the country everyday. Auctions are held at the following places: police agencies like county sheriff departments, police departments, local police agencies, federal law enforcement agencies; different government agencies including but not limited to U.S. Bankruptcy Court, State Tax Department, Customs and Border Protection; and privately sponsored auction houses. Schedules of auctions are posted and announced on websites, brochures, newspaper listings, and agency offices.

Do I Need To Register?

Yes. Before you can participate in vehicle auctions, you must register and a registration fee is required. This is done at the auction site on the day of the auction.

Do The Vehicles Have Warranties?

Most auto auctions do not provide "in-house" warranty; however, if it is applicable, the manufacturer's warranty is transferable.

Can I Test Drive The Vehicles?

During the auction preview, potential buyers are allowed to inspect the condition of the vehicles but are not allowed to test drive the vehicles. However, bidders are allowed to check the condition of the engine, heater, air conditioning, and other accessories while the engine is running.

How Can I Pay For My Vehicle?

The following are the most common forms of payment: credit card, cash, credit union cashier's check, cashier's check, and traveler's check. However, you should consult with the auction house and ask for the accepted modes of payment.

Can I Back Out From The Sale After I Have Won The Vehicle?

When you win a vehicle, you are legally and contractually bound to pay at a specified period of time. If you fail to pay for the car, you will be obliged to pay for additional fees and penalties identified on the conditions of sale.

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Understanding How Silent Auction Work

2009-02-08T06:42:00.059-08:00

A silent auction is a fundraising method that is commonly used at charity events. It is different from the usual auction wherein an auctioneer calls the price from people who raise their hands or numbers to bid for a particular lot. Silent auction is often the preferred way of raising money as it does not detract people from the event.

At a silent auction, a table or a display that shows the items or services on sale is set up for the people to see. Some items or services may have a minimum bid as they may be of high value. A paper is usually located near the item where the bidders can write their names and the amount they are willing to buy the goods. Some silent auctions have one receptacle to hold the bids for all the goods on sale; others have individual container for each item. The choice however, is really up to the host.

The display gives the chance for the bidders to view all the items during the event and select which among the items they would like to bid.

At a silent auction, previous bids can be shown publicly through a bidding sheet. This allows other bidders to know that they need to bid higher in order to bring home the item. This also gives the bidder a chance to review the current bidding sheet and place their final offer prior to the closing of the auction.

Similarly, the bids at the silent auction can be kept privately throughout the event. All the bids will be calculated at the end of the auction and the highest bidder wins the item for whatever amount he or she has written.

One similar auction website that runs on the same principle as silent auction is eBay where people can see the item and place a bid higher than the previous one made by others.

A silent auction has an advantage over the regular form of auction. Since it is mostly used at charity events, silent auction eliminates the need to hire a professional charity auctioneer.

However, it has drawbacks. A regular auction capitalizes on impulse of the buyers to bid for the items in a very short amount of time. Silent auctions on the other hand allows bidders to consider the amount of their bids longer.

More often than not, charitable events use both silent auctions and regular auctions to take full advantage of both systems.

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Types Of Government Auctions

2009-02-08T06:42:00.057-08:00

Government auctions, if you are the type of person who wants to find just about everything on sale, is among the best options you have. Government auctions showcase almost all types of items and properties- from earrings to multi-million dollar properties.

With that in mind, it is easy to understand that government auctions come in many types. Each of which differ in the manner of how the government obtained the items or the properties and the manner of disposal the government uses to sold off the properties to the public while getting a profit in return.

Here are some of the types of government auctions:

Government Surplus Auctions

Also known as the GSA Auctions, is the type where the Government sells everything that it no longer needs. Thus you can find anything and everything being sold here. Typically, the items here are second hand but they are, in most cases, top caliber and buyers can get them at excessively low prices. The government does not aim to make profit on such things; it only wants to get rid of them.

Common items found in GSA auctions are automobiles, jewelry and office equipment. However, surplus buildings, real estate and properties are also sold here.

Many people doubt though whether they should buy too-good-to-be-true items in such auctions. But as they say, to see is to believe. But there is no doubt that most of these things are authentic.

Seized Property Auctions

Mostly selling confiscated properties, seized property auctions sell properties and items that were foreclosed by the government or taken from the original owners due to tax, financial and other related issues. However, seized properties may also come from confiscations from illegal activities like drug dealing or smuggling.

Seized property auctions could also stem from tax seizures. A house, for example, could be seized by the government if the owner fails to pay his taxes, mortgages and bills. This could extend to other properties like clothing, cars, and real estate.

Custom seizure auction, another type of seized properties auction, sells goods that could come from: a) smugglers, b) people who were not able to present enough and detailed information of the merchandise, and c) people who came from other countries bringing along with them unauthorized merchandise.

Buying from government auctions offers you some of the best pieces of items at a very (very) low price. If you want to find the best deals, try to research the schedules of government auctions.

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Types Of Auctions

2009-02-08T06:42:00.055-08:00

English Auction:

This type of auction is used at English auction houses like Phillips, Sotheby's, and Christie's. The process starts when the auctioneer announces the item and the minimum bid. Individuals openly try to outbid each other wherein each bid is higher than the previous one. The item is sold when the 'buy-out' price is reached or when there is no other person willing to place a higher bid. The 'buy-out' price is a pre-determined amount that is set by the seller.

In other cases, 'absentee bidding' is accepted wherein an individual will cast his or her bid online or through a telephone.

In an English auction, a 'reserve' price may be set. This is the lowest amount at which the seller is willing to sell the item. This gives the seller the right to refuse the sale if the final bid does not reach the reserve price.

One variant of the English auction is the silent auction wherein people can write down their bids together with their name on a piece of paper. At the end of the auction, the bids will be calculated and the highest bidder wins the item.

Dutch Auction:

This is a type of auction where the auctioneer begins by announcing the highest asking price. The amount is then lowered until someone is willing to buy the item. The bidder pays for the last announced price. This type of auction is convenient if the seller wants to sell the goods quickly since the process requires just a single bid to get a sale.

Chinese Auction:

This is basically an auction and a raffle combined. At Chinese auction, the bidders are not the ones who will call the price. Instead, the bidders will buy a ticker or tickets and place them inside the "hat" from which the winners will be drawn for a specific item. The bidders can buy as much tickets as they want to increase their chances of winning. It is unclear whether or not this type of auction originates in China but for sure, the term is more likely to come from "chance auction".

Sealed Auction:

This is a form of auction where participants place their bids in a concealed way, usually in an envelope. The highest bidder wins and pays the amount of his bid to the seller. A similar version, called the second-price sealed auction is a type of auction where the highest bidder wins but pays the price of the second highest bid.

All-Pay Auction:

This is a type of auction where all the bidders must pay for the amount they bid regardless of whether they win or not. The highest bidder wins the item.

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The Advantages Of Buying From An Auction

2009-02-08T06:42:00.053-08:00

Public auctions have received positive responses among those who have visited them and won items. But why? Let us look at the advantages of going to and buying items from an auction.

The bidding process enables bidders to dictate the cost of the item they want to buy. While most items are often appraised to determine its minimum price or starting bid, the bidders are still the ones who will decide on the final price of the every item at the auction house.

Purchasing an item from an auction is often faster the than the conventional way of buying. Believe it or not, one item can be sold within 30 seconds at an auction. An auction is the simplest and fastest way to buy anything!

Generally, any item being sold at an auction is relatively cheaper compared to its actual market value. This does not mean though that you can steal a deal at a dirt cheap price all the time but auction items are usually sold 10% to 15% lower that their actual market value which is a pretty good deal if you want to save on cash.

The auction house or the auction companies allow you to inspect the items before the auction starts. This way, you can get up close and determine how much you are willing to pay for a particular item.

Items vary depending on what is available at the auction. From cars to boats to properties to office furniture to sports memorabilia to personal gadgets; the possibility of owning an item is endless. Some auction houses only focus on specific items such as cars or property. Still, inventory is very wide.

You can buy good quality items from an auction. This is contrary to the common notion that items that are sold there are used and poorly maintained. Designer clothes, jewelry, antiques, household goods and even cars, boats and motorcycles are well-kept before it is being sold at an auction. Or, in the case of seized properties, lots and houses that are being sold are not located in crime-ridden areas.

Finally, payment is even convenient. At the end of the auction, the item(s) you've won can be paid in cash, check or with a credit card. Partial or full payment is accepted to ensure that you get the item(s) you've won.

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Selling Your House At An Auction: Know About The Reserve Price

2009-02-08T06:42:00.051-08:00

Selling a house can be easy if the right buyer meets the right seller at the right place at the right moment. However, this does not happen every time. In most cases, homeowners who wish to sell their homes take several weeks, even months to find a seller even if the house has been advertised in different newspaper ads. This is too long especially if the homeowners want to sell their property right away to avoid foreclosure.

One way to find a buyer fast is by placing the property on an auction. But as simple as it may sound, there is one thing that needs to be done in order to get a good deal: you need to set a reserve price.

A reserve price is basically the lowest price you are willing to sell your home. It protects you from highly unfavorable sale or getting a selling price lower than the price of your house.

This is different from setting a minimum bid. While participants know that there is a reserve price, the exact amount is not revealed to the bidders. If the highest bid is lower than the reserve price, you are not compelled to sell your house.

Why Set A Reserve Price?

Setting a minimum bid too low will attract bidders but you will end up with an unsatisfactory low sale price. Setting it too high discourages the interest of the bidders. In order to help you sell your house without compromising one over the other, a reserve price should be set.

How To Set A Reserve Price?

To set a reserve price, perform a property appraisal. Do this through the help of chartered surveyors. Usually, homeowners commit a mistake by letting the estate agents give the appraisal. The estate agents' job is to market your house and not to give an intuitive estimate of what they think your house is worth. As a result, unrealistic figure comes up either too low to make a quick sale or too high to secure your instruction.

It is also possible to do a property appraisal yourself. This is a bit complex as certain methods should be applied when estimating the price of your home. Still you can get the value of your property by using the "income approach" and the "comparable sales method" The income approach calculates the profitability of the property; comparable sales method involves looking into actual data. Both involve serious valuation to know your reserve price.

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Selling An Item? Tips On Finding The Right Auction House

2009-02-08T06:42:00.049-08:00

Privately owned properties like houses, vehicles, sports and celebrity memorabilia, home appliances, office items, and electronic gadgets among others, are sold at auctions for a similar reason: owners want it sold fast. As auctions help buyers to locate items they need, auctions also help individual sellers to find the right buyers. But not all auction houses are fit for everyone.

So if you want to sell something at an auction, choosing the right auction house is the first thing you should do.

1. Choose an auction site that sells similar items to yours with the same price range. This is very important since buyers go to auctions that enable them to have a wide selection of auction goods at a very affordable price. Auction houses that specialize in selling items such as yours should be your first option. Consider other auction companies if you think you cannot get a favorable deal on these auction houses. Also, take note of the price of other auction goods they are selling. If the item you want to sell is either too low or too high than the average price of the rest of the goods, find other options. (Placing your item in an auction that sells different items, however, will greatly diminish its chances of getting sold.)

2. Do your homework. Auction houses are not created equal. While they all sell goods that other people will buy, some are better than the others in terms of attracting bidders. You may want to find an auction house that markets or promotes your item very well. Your auction house should have websites where auction goods can be posted for the browsers to check. The auction house should be publishing brochures and catalogues as well.

3. Know the cost. Check with different auction houses on how much it would cost to sell your goods in your behalf. Also, ask how much would they charge for the commission. Usually it goes between 2% to 3% of the final selling price. Still, take note if you can actually earn by putting your good into auction with all the charges they apply. (One thing to remember: whether you item is sold or not, placing it in an auction will cost you money.)

4. Read the terms. Different auction houses have different conditions. One vital consideration when selecting an auction house is your stand on the company's policy. Before signing an agreement, understand carefully how the company will go about with selling your item. This prevents future dispute that costs a lot of trouble, time, and even money.

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Real Estate Auctions: Will It Work In Your Favor Or Not?

2009-02-08T06:42:00.047-08:00

The number of bank-owned properties is steadily rising. Thus it is easy to find houses that are either for sale, foreclosed or being auctioned in any neighborhood. Nearly all neighborhoods are flooding with such properties and lenders, homeowners and mortgagors are willing to negotiate the prices for easier sale or to auction the houses to get the highest market value available.

A great deal of real estate properties are put on auction for the belief that the buyers could be carried by the hype of the bidding wars which in return, could lessen the devaluation of the properties. In most cases, many buyers jump into the hype and place bids that are beyond the prices that they first set and the prices that they could practically afford.

However this is not true in all cases. There are real estate properties that could sell even at the lowest prices available. If no one bids on the property, the owner might even have a deficit. If there are too few interested in the property, on the other hand, the owner might not get his expected value but the buyer will have a property at a much lower price. In general though, foreclosed real estate properties that are being auctioned are sold at a discounted rates to leave money to the new homeowner for repairs and refurbishments. Also, banks and mortgagors have no more interest on profiting from such sales. They only need the return of their investment or security of low deficit due to the cost of maintenance and other expenses over the property.

If you are interested in buying real estate from an auction, you should be very careful while bidding. Sometimes the highest bid is not the final price of the house. Remember that the auctioneers have to get a commission for their service. On the other hand, if you are bidding on a foreclosed house, you don't have to give really high bids to get the property. Allow yourself some money to cover for some unsolicited expenses after buying the house.

Nearly all auction houses have predetermined percentages over the houses being sold to be received as payments. When bidding, calculate this amount and add it to the highest bid you are willing to bid. For example, the typical commission is around 5%. So if you are buying a real estate property at a price of $100, 000, expect to pay a little more than that.

The main selling point of real estate at auctions is getting the property you want at a reduced price. So be sure to get that. If the price is not giving you that advantage then forget about the property.

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Pros And Cons Of Silent Auction

2009-02-08T06:42:00.045-08:00

Silent auction is a common method to raise money at charity events. But before you adopt this system to your own charitable gathering, first take a look of its pros and cons. This will enable you to know how to adjust and make everything work for your advantage.

There are two ways to run a silent auction: first is by keeping the bids private and the other is by showing publicly through a bidding sheet the previous offers made by other individuals.

Pros

It gives no clue on how much the bids of others are. If the bid history is not written and displayed on a bidding sheet, others bidders will have no clue on how much they have to write in order to get the highest price to win the item. This can result in surprisingly good price returns.

Usually, the auction is just a part of a charity event. Thus, a silent auction will not detract people from entertainment as items are not being called by an auctioneer; instead, items are displayed for people to view and later, bid.

The bidding sheet includes the previous bids made together with the name of the bidder. If this is the case, individuals will think about the price they'll write in order not to draw negative reaction from others.

Cons

Long bidding process may give bidders time to consider the amount they are going to write. This is unlike regular auction that capitalizes on the impulse of buyers to bid on items higher than they originally have in mind. This is perhaps the major drawback of silent auctions.

If the bids are kept privately, the selling price may be lower than what is expected. This is because people have no idea whether or not they have to write down a higher amount to outbid others.

Silent auctions are not a perfect fundraising system. Still, it is said to be the more preferred way to raise money for a cause. The reason is that these drawbacks are often worked out so that it won't have a negative effect on the result of the auction. One way to do it is by using a type of silent auction that will work for the crowd. Another is to combine silent auction with regular auction. Ultimately, the choice is still in the hands of the organizers.

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Police Auction: A Place To Get Bargain Items!

2009-02-08T06:42:00.043-08:00

Everyday all across the country, police agencies like county sheriff departments, police departments, local police agencies, and federal law enforcement agencies acquire lost, abandoned, confiscated real estate, motor vehicles, and other personal properties from different private owners as a result of arrests, forfeitures or plain neglect on the part of the owner. When left unclaimed for a certain period of time or when proven that they are acquired illegally, these items go to police auction.

Police auction is no different from other types of auctions held by privately-sponsored auction houses. You go to the site, inspect the auction goods, bid, win, pay, and go home happy. The main difference is, unlike all other types of public auctions, you do not have to pay a registration fee in order to place a bid. All you have to do is to go to the location and bid.

You may have heard of claims saying that you can drive home an almost new car for just a couple hundred dollars. While this may seem to be too good to be true, there is a truth behind it.

One reason why these goods are being sold dirt cheap is because police agencies really have no use to them. So instead of putting these goods in their storage or at their garage, it is more reasonable to dispose them through public auction. Besides, storage cost are very high.

Another reason for this is that police auctions are not as popular to many as most people are more aware and would certainly go to online auction sites and privately-run auction house. As a result, there are less people that participate in the bidding. This keeps the price of the auction goods low and if you are lucky enough, you can get the item without dealing with the competition.

Third, many goods on sale at police auctions are not appraised. Meaning, the minimum bid is not based on the current market value of the goods. Thus, there is a possibility to get items at the least possible price.

Finally, there is a negative notion that goods being sold at police auctions come from criminal. While this is true, most of the items here do not have bad history of ownership. Still, most are discouraged to go to police auctions.

Police auctions are held on announced schedules. You can get auction schedules on the police agencies' offices, community boards, local newspapers, and police websites.

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Property Auction: How To Decide How Much To Bid?

2009-02-08T06:42:00.041-08:00

Buying at an auction is often a much faster and easier way to own a property. However, as fast and as easy things may appear, there are jobs that need to be done; including setting the highest amount you are willing to pay for the property.

Here's how to decide how much to bid...

First, once you see the property you are interested in, call the auction house and arrange the viewing. This way, you will be able to decide according to the present condition of the property. Initial impression will give you a good idea (a personal estimate), how much you are willing to pay for the property.

Then, consult your mortgage lender and tell them about the property. They will not lend you money unless a survey or an appraisal is conducted. Know how much you can afford to borrow from your lender

Third, know its market value through an appraisal. This may not give you the exact amount you are looking for but property valuation will give you an idea on how much you should really pay for the property.

Also factor in the deposit you can afford. Usually, the least amount that the auction house accepts as down payment for the property is 10% of the final sale.

Compute the possible repair cost. Properties that are sold at auctions often come from repossession, foreclosure and bankruptcy. So it is likely that they may not be very well-maintained. And to make it livable, you need to do some repairs or renovation. Hire a professional do an estimate on the cost of the repairs. Include the cost of repairs on the highest amount of your bid.

Take into consideration several fees including survey fee, valuation fees, mortgage indemnity guarantees, arrangement fees, solicitor's fees, mortgage broker fees, lender fees, stamp duties, moving cost, auction registration fees, insurance, auction house commissions, and the cost of selling your previous home.

Once you have the figures from every detail you need including the price of the property, the cost of repair, and the extra expenses necessary to by the house, you should be able to identify the highest amount you should pay for the property.

Basically, determining how much you should pay for a property at an auction is similar to setting your budget when you buy property from an agent. The difference is, the price is not definite and will depend on other participants at the auction.

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Must-Know Things About Car Auctions

2009-02-08T06:42:00.039-08:00

Investment wise, buying a car at an auction is a smart move. But this should be done with extreme care because public car auctions have inherent risks and benefits. So before you jump in with your bid it is best that you are equipped with necessary knowledge about auctions. It is not all about finding great deals, it is also about dodging the possibilities of getting not-so-good ones.

First with the cars. Cars at auction are generally cheap. However, the mechanical condition of the cars suffers. You won't know whether the car has mechanical defects or whether the paint is original or not until the buyer tests it. The problem with car auctions is that not all auctions have a viewing time. Meaning some auctions will not allow the potential buyers to inspect the cars they are eyeing. Also, many organizers do not allow test-drives. Thus, any potential buyers are not certain whether the deal they are getting is good or bad.

Also, the cars are auctioned as-is. If the car has a dent then you'll be buying that dent along with the car. Nearly all auction organizers do not bother on fixing the car before they bring it to the auction site.

Second, the extra charges. These may be small and can be easily dealt with however, for many buyers paying extra cash for some fees that they were not prepared for could spoil the deal. Paying the buyer's premium, a fee charged to the person with the highest bid, could sometimes cost a couple of hundred dollars.

Third, the type of car auctions. There are several types of car auctions and these provide features that may not be had from other types. For example, there are auctions specializing only on second-hand cars, there are those that sell vintage cars and there are others that attract people wanting to buy salvaged cars. The buyer will then have to decide the options that suit him best which will let him get the best deal.

Fourth, knowing where to look for auctions. Different auction houses have different mediums for relaying their activities to the public. In short, there are many places to look for when wanting to find auctions. Advertisements are commonly found in radio announcements, local TV networks and car sale magazines.

Lastly, the car auctioneers. A lot of car auctioneers are reliable and reputed for their good services but some of them are not. So ensure to it that you go to auctioneers that operate on regular basis but sometimes, even that is not an assurance that you are getting the best deals.

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Making The Most Of Government Auctions

2009-02-08T06:42:00.037-08:00

Auctions sponsored by the federal government are the best places to get great deals. Imagine buying a fine set of jewelry for a fraction of the original cost. But like most auctions, government auctions have their own pitfalls. Here are some things to remember when considering government auctions:

Well-Known But Not Advertised

While you can get the real deal from government auctions, there is too little information about it. The government does not bother too much on advertising the auction dates and the items it would be offering. In fact, it is not bothered whether or not the auction will yield profit. All it wants is to get rid of the seized properties and merchandise and sell it to the willing public.

So if you are wondering where to find such auctions, it is best to visit Link ="http://www.usa.gov">www.usa.gov and start your research from there.

No Assurance

The disadvantage of buying at an auction is that you will never know whether the item is in its best condition until you have bought it. The same is true with government auctions. The items sold at such auctions could range anywhere from abused to mint condition. The bad part is it is too seldom that the items to be auctioned will be allowed for inspection. Chances are you won't be able to test drive the car you are eyeing, the most you can do maybe is to test if it starts. The auction organizers, in fact, do not test the items before they put them into auction so don't count on anything.

Competition

A lot of people attend government auctions so you should brace yourself for tough competition. Bidders range from high-end to low-end buyers and you may be up against people who have higher buying power than you.

Intense competition could lead bidders to overbid, which is not really advisable. Overbidding may lead to paying more than you should.

Phonies

Some government auctions are not really sponsored by the government, there are also some phonies out there. To know if the auction is legitimate or not, the best course of action is to check on the website stated above and contact the agency that is being represented by the auction.

Previews

As said earlier most government auctions do not allow previews. This does not mean that all auctions do not provide viewing time. If you are planning to bid on hundred dollar-items you should give yourself the assurance of examining them ahead of time.

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Learning The Auction System

2009-02-08T06:42:00.035-08:00

This is a guideline that will help you understand the bidding process more. This does not discuss the exact process per se but the things that you should practice if you want to be successful in bidding at auctions.

Preparation Period

Research is a valuable means by which you could make your decisions from. Gathering some information from all kinds of resources- the bidders themselves, the auctioneers, the catalogue, online information and thorough study could make the difference between getting a great deal or a not-so-great one.

Attending local auctions could also equip you with first hand information that is useful once you hop into the real deal. Most states hold regular auctions, it is best to attend some first to experience how they works.

You cannot join an auction if you don't have the buying power. Arrange your finances first. If you are buying something big- say real estate or foreclosed property- you should try to seek effective financing.

Decision-Making Period

All bidders have their reasons why they go to auctions instead of purchasing from other traditional methods. You should first determine your own reasons for using this option for buying. Are you after used cars and want to get them at the lowest possible price without the tedious negotiation process? Do you want to buy a home but you don't have enough money? Or are you fond of buying just about everything at discounted prices?

There are several types of auctions and each caters to a different audience. Government auctions, for example, provide the main advantage of offering the public excessively discounted items. A fine arts auction is a high end type of auction which caters to artists and collectors who want to buy art works. Antique auctions, on the other hand, are popular among collectors of old and sometimes historical objects. On your end, you should first decide why you are buying at an auction.

Buying Period

This period may begin once you have determined what you want to buy and the auction sites that you visit.

Most auction sites have their websites where they announce their activities. Use these to get more reliable information.

Buying will actually begin with bidding on the item. But prior to that, you should first establish the price limit you are willing to pay for the item you want. Also, prepare a mental plan that you want to follow and stick with it. Use this plan while bidding, it will help you become more critical of your decisions.

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I Won Something! What Now?

2009-02-08T06:42:00.033-08:00

First things first: different auction houses have different ways on how to go about the process of collecting payments for the goods they have sold. Thus, it is a must that before you even begin to bid for something, you need to carefully read and understood the payment process.

These differences, however, may just be on small details. Generally, auction houses employ similar procedures of collecting payments.

The highest bidder will be asked to sign an auction memorandum or a sales invoice, or a paper signifying that he or she has won the item.

When a person wins an auction lot, he or she is required to pay for it immediately or pay within a period of days indicated on the terms and conditions of the auction company. Some auction houses require the winning bidder to pay for the lot at the end of the day or right after he or she has won the lot. Other auction houses give the highest bidder a few days to complete the payment. Other auction companies can give the highest bidder as long as 28 days to fulfill the payment obligation.

The type of auction goods often dictates how long the payment should be completed. Home furnishing items, motor vehicles, consumer electronics, and apparel among others are often required to be paid for immediately. Since there are papers that need to be furnished to complete the sale of real estate properties, the payment often takes longer than the others.

Payment conditions depend on the amount of the item sold. Many auction companies set price ceilings for certain items to identify which payment method to use. For example, an auction house can require the highest bidder to pay in cash if the item he or she has won is $1500 or below.

Modes of payment accepted depend on the auction company. The widely used payment is cash. The following can also be acknowledged as a way in paying auction goods: wire transfer, credit card (MasterCard, Visa, American Express, and Discover) cashier's check, credit union cashier's check, and traveler's check among others. It is important to check with your auction company which forms of payments are recognized.

An auction is legally binding. Once you win something, you cannot back out and refuse to pay. Refusal to pay for the item you have won has consequences including penalties and additional fees. Again, read the terms and conditions of the auction before bidding.

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Items For Auction: What Are They?

2009-02-08T06:42:00.031-08:00

An auction is basically offering a property to all willing bidders and awarding it to the one with the highest bid.

Traditionally, auctions were a form of selling women to those who wanted to buy slaves or wives. The beautiful ones naturally got the higher prices while those without beauty had to pay the auctioneer to get listed on the auction. These days, however, auctions have become a popular substitute for the open market. While anything can be auctioned, there are several kinds of merchandise that yield the highest sale when put to auction.

Antiques

Antiques are popular among collectors. These could include items like watches, clocks, jewelry, historical items, furniture and others. There are so many different reasons why people are interested in antiques. Usually history buffs have the highest tendency to collect items with historical value or significance. Possibly someone who has been given an old article or item and just wants to expand his collection of the same thing. For example, someone who is fond of collecting potteries or porcelain from various periods of American history will find it relatively easy to obtain more of these items from auctions. Auction houses are one of the vast sources for collector's items.

Fine Art

Paintings and sculptures are staple items sold at auctions. Both buyers and sellers find it easy to dispose and hunt items that are artistically made through auctions.

Collectibles

Medals, coins, postcards, stamps, memorabilia are among the collectibles sold at auctions.

Property

Foreclosed properties are usually offered at auctions to help previous owners generate funds that will cover unpaid bills. While this may be popular due to the rise of home foreclosures in the past five years, many buyers find it hard to get homes that satisfy their dreams. But this does not negate the fact that auctioned homes could provide you the chance to get your dream house at a discounted rate.

Household

Carpets, garden equipment, beds, furniture and appliances could be bought at auctions. For people who have the need to dispose of their unnecessary household equipment, auction could be a good alternative to a garage sale. For willing buyers, auctions could get them the best deals without the frustration usually experienced at flea markets.

Consumables And Agricultural

Wines, beers, produce, and even fish are popular items found at auctions. In Japan, for example, excellent choices of fish are auctioned daily in their larger markets.

As you may notice not everything can be auctioned. In short, only merchandise, properties and real estate can be sold at auctions.

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How To Sell Your Item At An Auction?

2009-02-08T06:42:00.029-08:00

The process of selling an item at an auction is pretty straightforward. You choose an auction house, know the conditions before signing an agreement, and stand back and wait until your item is bought.

Choosing an auction house is crucial for the sale of your item. Landing a wrong one greatly reduces the chances of getting a favorable sale. As much as possible, pick an auction house that sells items similar to yours within the same price range. There are privately-run auction houses that sell specific items such as jewelry, antiques, artwork, vehicles, or vintage cars. There are others that sell miscellaneous goods. Do some thorough research on the auction company carefully before selling your items through them.

Knowing and understanding the conditions set by the auction house before signing an agreement is important.

There is a cost in placing your item in an auction. One is the commission of the auction house on the sale it has made on your behalf and the other is for the advertisements in catalogues and brochures regardless of whether your item is sold or not.

Keep in mind the things you need to prepare including the reserve price, the contract, and opening your property for viewing (especially if it's a house).

A reserve price is the lowest amount at which you are willing to sell your item. To determine how much your reserve price is, you need to have your property appraised. It is based on the actual market value of the item you are selling. It protects you from selling your item when the final bid is lower than your intended amount of sale. Auction houses charge a fee when setting a reserve price.

The contract contains your terms and conditions of the sale which should be prepared by the solicitor of the auction.

If you are selling a property, have it opened for viewing. This allows potential buyers to inspect the condition of the house.

Once the auction starts, you have no control over your item. An auction is a highly volatile marketplace and the final price is dictated by the bidders. You may get a good deal but if the demand is low, you might end up selling your item at a low price.

One important fact: Whether your item is sold or not, you will pay the auction company. Calculate carefully if it is worth it to sell your items through an auction.

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How To Sell Your House At An Auction

2009-02-08T06:42:00.027-08:00

An auction is a popular selling method for houses, especially for the owners of foreclosed homes, due to its many benefits. It is the quickest way with the highest guarantee of sale. Here are some guidelines that will help you determine whether you should auction your house or not.

Which Properties To Sell

There are several types of properties that are best sold at auctions rather than under normal circumstances. They include:

Houses That Are Hard To Sell Through Conventional Means: There are certain types of houses that simply can't be sold through the open market fast. These include those that are in really bad shape and have received no repairs over the years, properties that have very unorthodox designs and those that don't receive good advertisement. All of these types could have a fair chance of getting sold through an auction.

Houses That Have No Definite Value: These are houses that are marked for their distinctiveness but are rather hard to sell on the open market.

Foreclosed Houses: Owners of foreclosed homes usually resort to auctioning their houses for faster sale to compensate the expenses, the unpaid bills and sometimes even to save the house itself from being foreclosed.

Highly-Demanded Properties: Popular houses get exceedingly higher selling prices when auctioned.

Evaluation Period

This entails the process of assessing your property and the potential auctioneer/s. Before you decide to sell it at auction, it is best to shop around for auction houses that fit your requirements. Have your property evaluated first so you'll know what is the reserve price of your house and the total value you should get after the auction. Then, check the price range of the properties that the auctioneer offers. This way, you'll be able to increase the possibility of getting a satisfactory deal for your property.

Properties at auctions are sold as-is but the owner has the option to increase its value first. For example, repairs, doing a bit of cleaning and restoring the property will actually increase its selling price.

Knowing The Cost

Auctioneers don't come free. They charge their clients for the brochures, advertisements and the general services they provide whether the house is sold or not. Also, you might pay a minimum commission of 2.5% from the sale of the house. To get around the unsolicited expenses and the payments that you may not expect before and after the auction, negotiate well with the auctioneer and read everything before signing anything.
Selling Proper

Before offering the house for auction, set the reserve price first - this is the starting bid for the property. Consult with your auctioneer before setting the reserve price. Second, arrange the contract. Finally, prepare the property for viewing by willing bidders.

Selling itself will occur during the auction. Potential buyers will bid on it. The one with the highest bid wins and the sale is official and legally binding.

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How To Profit On Selling Real Estate At Auctions

2009-02-08T06:42:00.025-08:00

Auctions of real estate are not only done by people who are distressed about their mortgage fees but also by people who want to make a profit on their own properties. And what is the best way to do it? Real estate auctions.

Real estate auctions create the buzz and interest that may not be had through conventional selling on the open market. Sometimes, this type of merchandising your property may even increase its actual value due to bidding wars that often happen during auctions and by the attention the auction gets. Furthermore, bidding occurs only in a day so any willing buyers will have to compete with other more willing buyers to get the property they want.

Here's how you can profit from selling your real estate:

Preparation

To maximize profit, prepare your house for selling. Spruce up the property and make it look good to willing buyers. Paint the exterior and interior, landscape the garden, clean up and put away things that do not look good around your house. These little investments will go a long way in increasing your home's value.

Evaluation

Have your house evaluated by a realtor or real estate agent. If you do not want to throw in some cash, try to research on the general value of the properties in your neighborhood. Compare it against houses with similar amenities. This will give you a rough estimate of how much your house is worth.

Auctioneer

Prepare a meeting with professional auctioneer who offers similar properties like yours. This way you'll get the best value and maximized exposure. Ask for several references. Also, try to attend some of his auctions so you'll know the potential buying capacity of his regular bidders, his performance and his capacity to sell your house.

Then hire the best auctioneer that you can afford. Your best choice may require you to pay a lot more than hiring regular auctioneers. However the best people in this business have the best capacity to attract more interested people in buying your property.

Before signing any contract or agreement be sure to read the fine print. You never know what you will run in to. Also, be sure to note how much commission you will give him and other expenses that you may have to pay during the entire process.

Lastly, with the help of the auctioneer set a reserve price for your house. This is the least amount of money that you will get from auctioning your house.

How To Prepare Yourself For Buying At An Auction

2009-02-08T06:42:00.023-08:00

Maybe you are considering the option of buying at an auction. It may be a car, office supplies, an addition to your collection or real estate property. Whichever is your choice, you certainly have to undergo some basic auction preparations. Here are the general ideas:

First Step - know the type of item you want and the respective auction where it is showcased. Almost everything under the sun can be bought at an auction. If you want second-hand cars, you must go to auto auctions. If you opt for buying an old building you need a real estate auction. If you have no concrete idea of what to buy, it is best to go to government auctions where they sell just about everything at very low prices. There are also high-end and low-end auctions. Each showcases various items and properties that differ in price ranges.

Second Step - know the rules of the auction house. Each type of auction has a number of auction houses and each auction house has its own rules. If you are a first-time bidder, it is in your best interest to do your homework first and research on the purchasing or selling rules of the auction house. Most auction houses require registration fees from their participants. This could be withdrawn after the auction. Also, many auction houses require a buyer's premium from bidders who've won the item.

Third Step - know the timing. Auctions vary in timing, they could last anywhere from several minutes to days. The candle auction, for example, usually lasts around 15 to 20 minutes until the candle burns out completely while a real estate auction may last up to 4 days.

Fourth Step - check for the inspection time and maximize it. Some auction houses allow viewing time to give the potential buyers the chance to inspect the items they want to bid on. However many auctions do not provide this privilege especially if catalogues are given out.

Fifth Step - decide on what items you will buy. Once you see the items, pick out the ones you want to bid on and calculate how much you are willing to pay for them. Then set your price limit and stick with it. It is easy to get swept up by the excitement of bidding so be sure to guard yourself against this. If you let your emotions decide for you, you might be buying things you didn't intend to buy or pay more than you can afford.

Sixth Step - register. Almost all auction houses require their bidders to register. You may register beforehand or right before the auction. Before you register, prepare to spend some money.

Finally - start bidding and remember the preparations you've had. If you have a plan, don't diverge from it.

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How To Prepare Your House For The Auction

2009-02-08T06:42:00.021-08:00

While repainting your house, refacing your kitchen cabinet doors, and scrubbing your bathroom tiles do not increase the value of your home, it certainly will improve its appeal and attract potential buyers. Remember that when your house looks goods, fresh, and clean inside and out, more people will consider buying it.

So, if you have decided to sell your house at an auction, spend some time, thoughts, and perhaps money in polishing up your home.

Repairs.

Before opening your house for viewing, make sure that any minor and major flaws that are considered as eyesores to potential buyers are addressed.

- Clean stains on the floor, on the wall, and the ceiling.

- Replace broken or defective door handles of the closet, drawers, and cabinets.

- Replace dead light bulbs.

- Check all doors, windows, drawers, cabinets, and cupboards. Make sure that they all open and shut well.

- Fix any water leaks.

- Fix the roof.

- Trim the garden grass, bushes and trees.

- Dispose of all your garbage properly.

- Keep the bathroom floor and kitchen sink dry.

- Fix the doorbell if it is defective.

Refurbishments

Most of the time, minor details can influence potential buyers to seriously consider your home. Find a feature of the house that can really make a difference and highlight it more. It could be your fireplace or patio.

Give A Good First Impression.

Some potential buyers take the front porch, front garden, and the facade of the house as a major consideration when buying a home while others simply want a good first impression. Bottom line: you need to clean or even improve the front of your house so that you can attract more potential buyers.

Keep Your House Furnished.

The more organized your house is, the more saleable it becomes. A house looks good if it is furnished; but avoid over decorating. Remove all the clutter from the rooms. Do not exaggerate the space. Clean out your closets but do not remove everything. Leave a few things inside. Also, your furniture arrangement should be cohesive with the structure of the house. Remember, many potential buyers rely on what they see inside your house upon viewing and not on what it will look like once they have bought the property and move in with their own furniture.

Once you have ensured that your house is ready for viewing, it is time to sell it at an auction.

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How To Buy A House At An Auction

2009-02-08T06:42:00.019-08:00

There will always be a home seller or a home buyer. If you are the buyer, purchasing a home from an auction might be your best shot for a great deal. However, you should make some preparations to maximize your chance of getting the property you want at a discounted price.

Research:

Knowing what you are buying will equip you with the best judgments on how to deal with the owners, how much your highest bid will be and your expectations regarding the house itself. Try to get some information about the house. It is much easier to get information on a foreclosed house that is being sold by the owners. If it is being auctioned by the bank or the government, public information may be limited. If you are just looking for a house to buy at an auction, check the title company for information or the county recorder. Also, houses being auctioned are advertised through auction websites. Auction catalogues could also be a good source of information on the reserve price, the starting bid and the maximum price of the house being auctioned.

Compare:

If a house is foreclosed in a certain area, chances are there are other houses being sold in the same area. The prices of such other properties may be good estimates of the property's actual value. When comparing, assure that you are putting similar properties in comparison. Get down to the specifics- how large is the property, what is the lot area, what are the amenities, what is the estimated cost of repairs and others. For more reliable predictors, compare the property being auctioned with properties lying within 3 miles.

Financing:

When buying at an auction, it is not always necessary that you are buying with your own money. You could also get financing from money lenders and mortgagors. However, there is a danger to this- you have to pay the interest of their money on top of the total amount of money you are borrowing. That might hurt your finances a bit. Nonetheless, you must be ready to put some money down as a deposit if you win the auctioned house.

Pricing:

Once you consider bidding on a particular property, start setting your price limit. Remember that the reason you are at an auction is to save some money while getting the property you want. If you cannot achieve this then it is senseless to buy from an auction. Try not to join a bidding war if it occurs. This will increase the price unreasonably with you on the losing end.

Walk Away:

To every house that is being auctioned, there will only be one person who will win it over the others. Thus your chances of winning the auction is a lot lower than you might expect so be prepared to walk away.

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Home Foreclosure Auction: How To Prepare

2009-02-08T06:42:00.017-08:00

Home foreclosure is a very devastating experience. However, for some people who need to buy a home at a much lower rate, home foreclosure auctions could be one of the most favorable choices. Many buyers of foreclosed houses feel guilty. What they don't understand is that it was not their fault that the house is being foreclosed nor was it their fault to want a house for themselves. If you are one of them just remember one thing. If you don't buy that foreclosed home, somebody else will. If someone has to buy it, it might as well be you.

But there are some preparations needed to ensure that you get the best deal.

One, realize that foreclosed homes don't come out clean. The fact that the home was foreclosed only means that the owners failed to meet the regular payments and liens, if there are any. So be sure that the home being auctioned has clean papers. Here's the catch though- most foreclosed homes are auctioned as-is. So any mess or damages done by the previous owners will be your problem once you own the house. So as much as possible research on the particular house that interests you.

Two, don't hop into the auction right away. If you are serious about getting a house through auction try to practice first. Go to an auction but don't participate. This way you'll get the feel of being in the auction pit and it will help you when you actually participate in the bidding.

Three, never get carried away by the bidding wars. Some foreclosed homes increase in value because of exaggerated bidding wars. If there are several people who really want the house and the price has exceeded your budget then do yourself a favor, just back out form the bidding. Emotions can be very dangerous especially during auctions.

Last, do not expect too much. You may or you may not get the house being auctioned. Despite the preparations and research you have done prior to the auction, there might be someone else who may outbid you. If you want to give your efforts some justice and you resort to outbidding everyone else beyond your own capacity, you might find that the auctioned house you won might be a nightmare not a reward. Remember to pull your stops when necessary. If you don't get this house, then think about getting another in the future.

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Guidelines On Buying At An Auction

2009-02-08T06:42:00.015-08:00

Here is a guideline to prospective buyers from an auction:

Do your homework: Nothing is more important than knowing what type of battle you are going into. Before traveling towards the auction site, you should first obtain a considerable amount of information about the items being auctioned, the form of bidding and other necessary details. Also, know the requirements of the auction.

Bring cash: Most auctions require the potential buyer to deposit a registration fee which may or may not be withdrawn afterwards. This acts as an assurance to the auctioneer that the person is a serious bidder. Also, know the forms of payment that the auctioneer requires. You might be required to bring cash, to use your credit card or to pay through a bank. TIP: Refrain from joining bids where the auctioneer asks the winning bidders to wire their payment. Once you wire the money, it's lost.

Just be prepared: There are conditions when the auctioneers have to cancel the auction. To get around this possibility, call the auctioneer before going to the auction site. Some auctions are cancelled without notice or with very little notice.

Use the viewing time: Most auctions allow viewing time for the items or properties so that the bidders will get an idea of the items being auctioned. During this time, inspect the item you want to bid on. Check for any indications that will give you hints on whether an item is a good sale or not. Inspect thoroughly because merchandise at auctions come with no guarantees. Foreclosed homes that are being auctioned, for example, are sold as-is. Thus any damages to property, whether it's real estate, a car or just a collector's item will not be recognized through complaints. However, there are some auctions that allow the winning bidder to return the item if proven faulty. But just to eliminate the trouble, try to check the item first before deciding to bid on it.

Set a price limit: Some people get so caught in the bidding wars that they bid beyond their capacity in the process. Don't let your emotions take you to prices that you cannot afford. Set a ceiling for the purchase price and stick with it. This way you won't be a victim of negative spur of the moment decisions because sometimes, even if you can afford the price, it's not wise to buy something priced way beyond its original value.

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Government-Seized Property Auctions: Buy Your Dream Home Here!

2009-02-08T06:42:00.013-08:00

Bidding at government-seized property auctions is perhaps the easiest and most effective way to own a dream home. At these auctions, you call the shots; you can choose from any listed properties; you decide how much you are willing to pay for the home; you have the option not to bid if you think you can't afford the property; and most of all, you can buy your dream home at a price lower that its actual value.

Where Do These Properties Come From?

Everyday, many privately-owned properties all across the country are subjected to foreclosure laws and repossession orders; other properties are seized because they were illegally acquired. All of these will become government properties. And since the government doesn't have any use for them, these real-estate properties are brought to auctions to be sold and become government assets.

Buying Your Dream Home At Rock Bottom Prices

When the real estate market is in distress, real estate property prices go down. And when the country's economy is in recession, citizens don't have the financial strength to keep up with the prices. One result of this slow down is homeowners missing their mortgage payments. Both are happening right now! And there's no better time to by property than today.

If You Put Time In It, You Will Be Able To Buy A Home 90% Below Its Market Value.

Do your research and acquire a property listing. If you have one, go through them one by one and study if any particular property fits your requirements. Once you have chosen a property, it is very important to go visit it before the auction. Houses offered at government auctions are not in perfect condition so it is a must that you check its general appearance before finalizing your decision.

Know your financial strength. Decide whether you will pay cash or use financing. If you choose the latter, get pre-approval first from a bank or loan company.

Government-seized properties may have or may have not been appraised before they are put on sale at an auction. Take note of this as the appraised properties are significantly more expensive.

Generally, properties at government-seized auctions are cheaper than the value on the open market but competition can drive the prices up. The key is, be wise when bidding. Bid only the amount you can afford. If you do all these, your dream home is going once going twice and sold to you!

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Going To An Auction In 5 Easy Steps

2009-02-08T06:42:00.011-08:00

The process of buying at an auction can be confusing to first timers. If you get started on the wrong foot, the whole experience can be discouraging. So in order to make sure that you do it correctly on your first try, here are the steps you should follow

1. Go To An Auction Preview

If you want to increase your chances of success, this is the most important step you should focus on. Auction previews are an opportunity to know the different auction goods on sale and the only time to inspect personally the items you are interested in bidding on. Turn it on, plug it in, try it out and examine all the features of the item when possible.

Auction previews are held days before the actual auction day. It is your chance to take notes, bring a camera, and screen the items through your personal quality check list. At the day of the auction, go through the items one last time and inspect that they are still in the same condition.

2. Do Your Research

Once you have seen the items on sale, go home and do your research. Go online and check the market value of the items. Consider the repair costs if necessary.

3. Set Your Budget

Once you have done your research on the items you are interested in bidding on, determine the highest amount you are willing to pay for each item. Take note, knowing the amount of your highest bid should be based on the current market value of each item, the possible repair costs, and the additional charges the auction company will impose on the sale.

4. Prepare Your Money

Winning at an auction is legally binding so you cannot simply pull yourself out after you win an item. Prepare your money that you have set to cover your bids and the extra fee.

5. Bid

When the auction opens and the auctioneer calls for the bids be ready. A second of hesitation may cost you to lose the item you are eyeing. Stay within your set budget. The auction process is fast-paced; things can get ugly, and emotions can run high. Do not let your emotions rule your decision-making. Bidding on impulse may win you an item but make sure that it won't overrule the budget you have set and the research you have done.

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Fundraising Auction Do's And Don'ts

2009-02-08T06:42:00.009-08:00

Organizing a fundraising auction is a big task, nonetheless it is possible. But before start, take these do's and don'ts as your guide to a better and more successful auction.

Do's

Do the planning carefully. Set your goal. Gather your team. Draw your plan. Delegate tasks. Prepare everything you need. Execute perfectly.

Get a corporate sponsor. Not only will it reduce your expenses, getting a corporate sponsor will also help you attract more people through corporate contacts or employees. Companies are less likely to refuse since it gives them exposure for a small amount. The thing is: You need them and they need you. Everyone benefits.

Define what auction you will use. You have 3 choices. You can use a regular auction, silent auction, or both. Each has its own pros and cons. It is up to you to decide what approach to take to make the most out of these types of auctions.

Do hire a professional charity auctioneer. Take note: "professional charity auctioneer". Regular auctioneers have a great skill of their own but a charity auctioneer knows how to execute a non-profit event very well.

Integrate the auction into a charity event. Often, a fundraising activity including charity auction is combined with an event. This helps draw invites and keep the guests entertained.

Don'ts

Don't set limitations on the type of auction goods to sell. If you want to gather enough funds for a cause, be ready to sell everything.

Don't assume that your guests know what to do. Not everyone has been to an auction or experienced bidding for an item at an auction. So keep each of your guests informed as to what they should expect during the actual event. Doing this allows you to connect with them personally. In return, your guests are well-informed on the cause of the event which can yield to better bidding results.

Don't spend too much on preparation. This is a fundraising event and your goal is to raise money. The last thing you want is to host an event that requires big money. Keep your budget to the minimum. Any amount you save is added to the money you earn.

Don't stress yourself out. While there are lots of things going on when preparing the fundraising event and during the auction itself, you don't have to stress yourself over the details too much. Trust your teammates. They will do the job as they're told.

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Do Estate Auctions Interest You?

2009-02-08T06:42:00.007-08:00

Estate auctions seem to be the top-rated places for scouring items that may fit your house. If you are out to seek an odd chair, an old designer side table that could be turned into a center piece for your house or an antique cabinet that could be refurbished for your stylish home, estate auctions may offer you better deals than antique furniture shops.

You never know what you are going to find for sale during an estate auction and what adds to the thrill of joining such. If you are someone who makes the most out of anything you see, you may find that an estate auction is more satisfying than you first expected.

But what will assure you of a great deal with an estate auction?

Going to the auction site an hour or half hour earlier than the actual auction schedule. This will give you time to inspect the items that you might want to bid on. Also, using the inspection period will let you see close the items that you want to buy. You can also evaluate the estimated price for each item, thus helping you decide on the ceiling price you'll give it.

While inspecting, look for the labels or manufacturers of the items you want. These will give you an approximation of its value.

Bid later in the auction. The crowd is usually largest at the beginning of the auctions. If you do not want to compete with other bidders, it is best to wait for the last parts of the auction when the crowd is thinning out. This works most effectively among people who are more interested in non-furniture items.

Do not join the bidding wars. If you want to buy a certain piece of furniture so badly, chances are there is someone in the crowd who wants it too. You'll know this for certain if someone in the crowd tries to outbid you. In the end, there will only be you and that bidder (and probably someone else) who'll be left bidding on an item. If this is the case, you can try to outbid him as much as you want but once the price crosses over the actual value of the item, pull the stops and let that person win it. An item is only as good as its original value.

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Common Auction Terminologies: A Must Learn

2009-02-08T06:42:00.005-08:00

Absentee bid is a bid made by a person not attending the auction. The bid, or often called order bid is often placed online or done through a telephone call. The winning absentee bidder equals the second highest bidder plus one bid increment.

Absolute auction is also known as straight auction. This is a type of auction where there is no amount or limiting conditions.

`As is where is' or 'in its present condition' or simply 'as is' is a term used to describe an item without return privileges.

Auction block is a stage or a podium where the auctioneer stands and calls for the bids. When an item is placed on an auction block, it means the item will go on sale.

Auctioneer is the person who calls for bid during the auction process.

Bid is an offer of a price the buyer has called.

Bid History is a list of all the bids made, usually, in chronological order. This is usually used at silent auctions.

Buy-out is a predetermined price set by the seller. Once the buy-out price is reached, the auctioneer has the option to stop the bidding and award the item to last bidder.

Deadbeats is a term given to a high bidder who fails to pay for the item he or she has won.

Dutch auction is a type of auction where the auctioneer calls the highest asking price and incrementally goes down until one bidder is willing to buy the item. The winning bidder pays for the last price called by the auctioneer.

English auction is a type of auction that starts with a minimum asking price and goes up incrementally. The item is won if the buyout price has been reached or if there is no other person willing to place a higher bid.

Featured auction are prominently placed on brochures, catalogues, category pages, or home pages of the auction service. Sellers usually pay for the placement.

Jump bid is a bid that is higher than the incremental bid.

Lot can be a single auction listing or a number given to an auction good for easier reference.

Market value is the highest price of the item when it is sold on the open market.

Maximum Bid is the highest amount a bidder is willing to pay for the item.

Opening Bid is the minimum bid.

Reserve Price is the lowest amount the seller is willing to accept for the item. Items with reserve prices are announced before the auction begins but the amount is not revealed.

Snipping is outbidding others during the last moment of the auction.

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Charity Auction: An Effective Fundraising Tool

2009-02-08T06:42:00.003-08:00

Charity auction are widely used as a tool to effectively raise funds for a cause. A charity auction works the same as other types of auctions. The main difference is that this auction is a non-profit event and the proceeds of all the items that are sold goes to a common cause.

There are two types of auctions used on a fundraising event: Silent Auction And Regular Auction.

Silent auctions are conducted by setting up a table or a display where all the auction goods will be shown for people to bid on. A minimum bid may or may not be set. A piece of paper is located near the items where participants can write the amount of their bid together with their name. At the end of the auction, the bid is calculated and the person who casts the highest bid wins the item. This is often a better choice for fundraising organizers as it does not detract people from the entertainment.

Bids can be kept privately throughout the auction or can be displayed through a bidding sheet. In a 'private silent auction', all the previous bids are not revealed in public. The good thing about 'private silent auction' is that, it keeps the bidders clueless on other bids. In theory, if a person does not know how much the bids of others are, the tendency is to give the highest amount he or she is willing spend on a particular item. And since it is for a cause, money will definitely come easy.

On a 'displayed-bid silent auction' a sheet of paper reveals all the previous bids made by other people. This allows bidders to watch a particular item or items they like and place higher bids, to write down the amount higher than the previous bid, or to write down the highest bid before the auction closes. This method is currently being used by almost all internet auction sites including eBay.

A regular auction on the other hand requires an auctioneer who will call the price from people who raise their hands or numbers to bid. A regular auction takes advantage of impulse buying as bidders only have a few seconds to outbid each other. If the auctioneer is good and the competition is present, items can be sold higher that their original value.

When executed properly, both silent auction and regular auction effectively yield a good result.

best editing

Car Auctions: Advantageous Or Not?

2009-02-08T06:42:00.001-08:00

Good and bad deals in car auctions have their equal share. Some first time buyers who've had a good deal may call it luck, but others who are more experienced at car auctions are just responding to some good opportunities. Here are the pros and cons of buying at an auto auction:

Pros

People with limited budgets and who want to buy a car find that there are a lot of choices in car auctions as compared with conventional car distributors and dealers.

For regular cars sold at auctions, buyers could secure reliable if not the best cars at very cheap prices. In most cases, organizers make it a point that the cars they sell are checked well for any damages or malfunctions and are in good condition.

At car auctions, even the best and most popular models are being sold with an added perk- they come at lower prices.

For car collectors, there are available auctions where vintage cars are featured. This may be a good opportunity to obtain some of the best cars without having to go through negotiations with owners who are unwilling to sell their vintage cars. Also, car auctions present great opportunities for buying really old cars without having to pay premium prices for the "vintage tag".

Cons

Cars at auctions are sold at relatively lower prices because the items are typically second-hand autos repossessed by the mortgagors or the federal government. There is an added danger to this- there are cars labeled as second-hand but are not at all second hand, some of them could be third hand or more.

A lot of cars at auction are not in mint condition, many of them even have mechanical flaws. Such flaws may not be apparent during the auction due to refurbishments, repaints and fixes that were made on the car to make the item look their best. These flaws will start appearing once the buyer uses the car.

Some cars that are being auctioned are "hot" cars, meaning these may be smuggled or stolen. Chances are you'll have problems regarding the car's ownership.

Unlike autos being sold at regular distributors and dealers, those sold at auction usually do not have insurance coverage or warranties.

Different car buyers have different opinions on whether it is good or bad to buy a car at an auction. Thus the buyer has to rely on his best judgment backed by a considerable amount of research and use of gut feelings.

Notebook Accessories

Making a Ruckus in the Music Business

2007-03-24T10:37:00.000-07:00

An upstart run by a former Napster executive aims to change how people get songs online—and give Apple a run for its iTunes money

by Catherine Holahan

Mike Bebel has a plan for inducing young people to pay for downloaded music: Give them all the songs they want for free while they're still in college, then start charging them a fee when they're out of school and gainfully employed. Bebel, a veteran of Universal Music Group and Napster (NAPS), is putting that plan to the test at Ruckus, a media download service he now runs.

Since February, 2006, the company has offered students at participating colleges access to a library of movies and more than 2 million songs, including the latest releases from major music labels, generating sales through ads. On Jan. 22, Ruckus is expanding its offering to let anyone with a valid ".edu" e-mail address gain access to the service and participate in the site's social communities.
Listen Now, Pay Later

Bebel believes students will opt to build a music collection of complete, licensed tracks through Ruckus instead of stealing songs via popular peer-to-peer networks that can be plagued with adware, spyware, and incomplete tracks.

The catch: When they graduate and drop the ".edu" for a ".com," students will need to start paying $8.99 a month or risk losing access to that vast collection they built up while in school. If subscribers also want to listen to songs on their portable music player, they're looking at an additional $4.99 a month.

Ruckus' business model might sound like a pipe dream in a market dominated by piracy and iPods. But Bebel has recently found a sympathetic ear both with investors and music industry executives who are struggling to wean customers off the illicit services that make up an estimated 90% of the music download market. "It has taken a bit for [the music industry] to get comfortable with the notion of it being free and being ad-supported," says Bebel. "But now there is recognition that the piracy problem is not going away and further recognition that a lot of this is happening on college campuses."
Legit Sales Declining

According to market research firm NPD Group, nine songs are downloaded illegally for every digital track purchased legitimately through a service such as Apple's (AAPL) iTunes. Russ Crupnick, a senior industry analyst at NPD, estimates that more than 45% of music is acquired for free through illegal downloading, ripping friends' CDs, and sharing copyrighted files. Conversely, compact disc sales, which make up the majority of record labels' revenue, comprise about 50% of the market. Less than 5% of music is acquired through legitimate, paid download or subscription services. "A huge portion of the pie is unpaid content," says Crupnick. "The record labels are faced with, 'How do I preserve the business that pays the mortgage for the industry?'"

It's a question that the recording industry is under increasing pressure to answer. Though the number of legitimate digital music purchases has steadily increased in recent years, the growth has failed to make up for losses in album sales. Digital track sales grew 65% in 2006 from 2005, reaching just under 582 million, according to Nielsen SoundScan. But total album sales, including both digital and physical CDs, decreased nearly 5%, to roughly 588 million.

The decline is all the more worrisome, coming at a time when actual music consumption is growing at a healthy clip, says Crupnick. People are listening to more music than ever before. They're just not paying for it. "As many as 15 billion songs are acquired for free in an unrestricted MP3 format each year," says Eric Garland, chief executive officer of research firm BigChampagne. Apple's iTunes, by comparison, has sold about 2 billion songs since it started in 2003 (see BusinessWeek.com, 1/17/07, "Apple: What Options Scandal?"). "That makes not only iTunes but also traditional CD sales look like an also-ran business," says Garland.

Weaning Users Off Piracy

Some subscription services that depend all or in part on advertising, such as the soon-to-debut SpiralFrog, hope to lure users from peer-to-peer services by making music feel free in the same way network TV makes its content available (see BusinessWeek.com, 9/5/06, "Meet the iTunes Wannabes").

With Ruckus, college consumers "pay" by viewing ads targeted to young adults and students while they surf around for music and participate in social networks. Bebel says audio ads are not appended to songs and there is no advertising that must be viewed before a song downloads. SpiralFrog users are encouraged to surf around the site and view advertising while waiting for songs to download.

Garland thinks such services have a shot at success, provided that they can offer music labels' full catalogs. "People want everything, they want their music on demand, they want it in an unrestricted MP3 format," says Garland. "And if it is not that, they don't want to pay for it."

As evidence, Garland cites the success of eMusic, the second most popular music download service after iTunes. While iTunes has largely been buoyed by the popular iPod media player and the copyright-protection software that prevents songs from other services from being played hassle-free on the iPod, eMusic lets customers buy subscriptions and download songs in a format that works with all music players. Trouble is, major labels have not licensed their material to the service in part because of the lack of desired digital rights management (DRM) software that encodes restrictions such as the number of times a song can be copied (see BusinessWeek.com, 1/5/07, "Music Fans: Dismantle DRM").

In Garland's view, an ad-supported service such as Ruckus answers some key consumer demands: It has a large catalog, feels free, and even has some of the social components that consumers use to find new music.
Eliminating DRM

Still, it lacks the interoperability that consumers also demand. And that may be its biggest drawback. In Bebel's ideal world, this issue would be resolved and the service wouldn't need to have restricted files in order to offer major-label releases. However, the industry has been unwilling to abandon DRM altogether. Companies such as Apple and Microsoft (MSFT) also favor the technology, arguing that their own proprietary DRM software is necessary to ensure a seamless experience between their players and music stores.

NPD's Crupnick believes the recording industry will eventually be forced to abandon DRM in order to compete in a digital marketplace that has free, albeit illegal, alternatives. "Consumers want to own music," says Crupnick. "If they cannot make a copy to put in their car or they can't get it onto their portable player to take to the gym, it ticks them off." And the alternatives—not all of them legal—can look plenty appealing to an angry consumer.

Holahan is a writer for BusinessWeek.com in New York.

Weaving The Web To Your Taste

2007-03-24T10:35:00.000-07:00

Hossein Eslambolchi's service will scour the Net for the media you want

Within telecom circles, some regard Hossein Eslambolchi as the savior of Ma Bell. In 2002, with AT&T's (T ) long-distance revenues fast disappearing, former Chief Executive Dave Dorman called the company technologist at his Silicon Valley home to ask him to become "chief transformation officer" and push through a radical rewiring.

Three years later, Eslambolchi had replaced AT&Ts (T ) aging, inefficient voice and data networks with a single Internet-based one smart enough to handle everything from basic calls to sophisticated corporate software applications over one set of gear, with less cost and complexity. That was a major reason SBC Communications Inc. paid $16 billion for AT&T in 2005.

Now, having helped design the plumbing that carries hundreds of millions of blog posts, songs, and video clips each day, Eslambolchi is about to launch one of the Web's more intriguing technology forays. His goal? Making sense of all those bits. On Mar. 13, Eslambolchi's 10-person start-up, Divvio Inc., will turn on a service that automatically finds audio, video, and, eventually, text, on your favorite subjects. Then it weaves these clips together to create personalized multimedia channels that are updated each time you sign on. A channel on the New York Yankees might start with spring training highlights, followed by videotaped interviews and blog postings.

That would be quite a change for Netizens, who have grown used to clicking back and forth between bookmarked sites or wading through increasingly cluttered personal portals such as My Yahoo! (YHOO ) or MySpace.com (NWS ). Backed by $3 million-plus raised from angel investors including former executives of Yahoo and eBay, Eslambolchi has been working 16 hours a day since leaving AT&T in late 2005, after turning down an offer to stay with the combined company. "We're going to give you the best of the Web, but only what's relevant to you," says the Iranian-born Eslambolchi, 49.

It's an ambitious goal, backed by technology of mind-numbing complexity. And that might be Divvio's biggest hurdle. Even the most focused startup struggles to solve a single major problem; Eslambolchi is taking on several of them at once, with a technology he calls alip, for "adaptive learning intelligent process."

First, Divvio's software trawls the Web, indexing content not just by subject or title, but by bandwidth, duration, and over a dozen other attributes. Then a "personalization engine" matches each consumer's desires to this data base--sensing, based on past requests, that the user is interested in Madonna the singer, not the mother of Christ. Finally, Eslambolchi says, the Divvio servers will stitch the segments together in milliseconds, regardless of what media format they were coded in.

Sounds impressive. But the site has to work right out of the box if it's going to win fickle Web users. If not, "it could get old very quickly," says Mike McGuire, a Gartner research vice-president. Divvio isn't the only outfit trying to help Web users corral content. For instance, Joost, from the founders of music file-sharing site Kazaa and the Skype (EBAY ) Internet-phone service, is hoping to be a one-stop shop for viewing TV shows over the Net.

LEARNING CURVE
Eslambolchi will face a major marketing challenge to break through the Web 2.0 clutter. And early users will need some patience. That's because Divvio will crawl only 750,000 sites at first, a tiny fraction of the entire Web, and because alip needs time to learn. Divvio figures it will only hit the mark 10% of the time for its first customers; he says that will grow to 60% by yearend.

Divvio hopes to make money by sharing ad dollars with content providers, or earning fees with phone carriers, once the service is able to run on mobile devices. After all, if Divvio works, it should generate reams of media-rich transmissions. To Eslambolchi, that would help justify those newfangled networks he had a hand in creating. As he points out: "The world's carriers have invested $10 billion in these [high-speed mobile] networks, but what are they doing with them? E-mail and instant messaging."

The Global Plant Floor

2007-03-24T10:31:00.000-07:00

From MIT's small-scale digital fabrication to Boeing's more collaborative model, a revolution in manufacturing is under way

by Don Tapscott and Anthony D. Williams

Somewhere in rural Ghana, a student team is designing a low-cost mobile refrigerator that they hope, one day soon, will be manufactured in local villages across Africa. And not by General Electric (GE), or some other multinational, but using a $25,000 fabrication laboratory supplied by MIT.

In a remote village in India, the locals use an identical "fab lab" to make replacement gears for out-of-date copying machines and diagnostic tools to reliably test milk and human blood. In the Lyngen Alps of Norway, shepherds watch over their flocks from afar, using fab-lab-constructed wireless-networking devices. Local fishermen use the same technology to track their boats at sea.

The all-purpose machine behind these local manufacturing innovations was built with off-the-shelf, industrial-grade fabrication and electronics tools developed by MIT's Center for Bits & Atoms. They call it a fab lab, but think of it as part high-tech workstation, part assembly line. It has everything you need to make just about anything, including nifty gadgetry such as laser cutters to etch out 2D and 3D structures, digital carving tools for making circuit boards and other precision parts, and a suite of electronic components and programming tools for constructing cheap microcontrollers.
Fab @ Home

Putting a fab lab in every home, says MIT professor Neil Gershenfeld, would deliver a profound change in how we design and assemble physical goods. Just as the information revolution placed the means to manipulate information and media in the hands of everyone within reach of a computer, a similar wave of digital fabrication technology could eventually put the means to produce physical objects in the hands of every household and community. Might this eventually make us genuine producers of the everyday objects that have long been the province of large-scale industrial manufacturers? It's hard to say.

In theory, many things that people want could be manufactured in the home to the exact specifications required. But whether having a personal home factory is at all practical, or even desirable, is debatable, to say the least. It's unclear, for example, how people would procure the raw materials for individualized production or whether personal fabrication would ultimately be cheaper than today's mass-production systems. One certainty is that it will be many years before we even know whether personal fabrication of the kind envisioned by Gershenfeld is even feasible on a large scale.

And yet, our increased participation and collaboration in the design and assembly of physical things isn't a blue-sky dream. The collaborative methods of open source software developers will eventually be as amenable to cars and airplanes as they are to software and encyclopedias. In some pockets of industrial design, open-source-like methods are already here today. Peer production of physical things is coming of age, and smart companies are getting with the program.
Peer-Produced Choppers

Nowhere are these transformations more evident than in China's burgeoning motorcycle industry, where the characteristics that make local companies such as Lifan, Zongshen, and Jialing competitive also make for a particularly fascinating tale of how mass collaboration has the potential to reshape even the most stodgy manufacturing firms.

Unlike traditional manufacturing industries, in which tightly regimented production hierarchies spit out end products under the command of a single leader, the Chinese motorcycle industry consists of hundreds of different suppliers that collaborate on motorcycle design and manufacturing. The assemblers typically set out rough blueprints, suppliers of closely related components (like the frame and fairings) work in tandem to design and deliver complete subassemblies to final assemblers in tight intervals.

This decentralization allows for rapid iterations, experimentation, and informal networking among adjacent suppliers, while assemblers integrate components and subsystems into finished products without having to impose much direction.

If production problems arise, managers go to teahouses in their spare time to iron-out solutions, swap market intelligence, and coordinate ideas for future product designs.
The New Norm

The bottom line is that Chinese companies design and build new motorcycles faster and less expensively than conventional industry supply chains. The approach has been so successful that motorcycle production has quadrupled from 5 million to more than 20 million vehicles a year since the mid-1990s, giving China about 50% of the global pie. Over 30% of production is now geared toward the rapidly expanding Asian export markets, where Chinese efficiencies have driven the average price from $700 to $200. Honda, Suzuki, and Yamaha, once dominant throughout Asia, have lost 40% of their market share in the last 10 years.

The emergence of highly collaborative design and manufacturing ecosystems isn't unique to China or the motorcycle industry. Such processes are becoming the norm in industries where intellectual property and production capacity is fragmented among hundreds of specialized companies. Increasingly, lead producers in fields such as semiconductors, computers, cars, clothing, and bicycles are responsible mainly for product concepts and marketing. They outsource manufacturing and many, if not all, aspects of component design. And they rely on a global plant floor consisting of hundreds of companies to assemble finished products.

Such mass collaboration is the future of manufacturing, even for the most complicated product we can think of—the new generation jumbo aircraft. Boeing is leading the way with its Boeing 787 Dreamliner by replacing its entire modus operandi with mind-boggling global collaborations.
Lego-Block Airplane

Today's modern aircraft consist of tens of thousands of high-tech parts sourced from hundreds of specialized suppliers. In the past, companies such as Boeing wrote detailed specifications for each part and asked suppliers to build to plan. Boeing gathered the parts on the plant floor and spent weeks assembling a single airplane.

For example, Mike Bair, who heads up the 787 program for Boeing, explains that when the company sent the specifications for the electronics supplier for the 777 (the predecessor to the 787) the document was 2,500 pages long. "There wasn't a lot left to their imagination," he says. "We told them exactly what we wanted in excruciating detail." The equivalent specification document for the 787 is a mere 20 pages, which means suppliers have more latitude to apply their specialized knowledge.

Deepening supplier involvement in all stages of the process has significantly boosted efficiency. Today, Boeing and its suppliers co-design airplanes from scratch and deliver complete subassemblies to Boeing's factory, where a single plane can be snapped together like Lego blocks in as little as three days.
Bits and Atoms

Like other leading manufacturers, Boeing is taking historic strides toward a new model of the corporation—a truly global company that breaks down national silos, deploys resources and capabilities globally, and harnesses the power of human capital across borders and organizational boundaries. For the companies in charge of coordinating these sprawling webs of value creation, innovation is less about inventing and building physical things and more about nurturing and coordinating good ideas.

The transition isn't necessarily easy. Some engineers inside the organization worry that Boeing's extensive partnering and sharing of data may cause it to lose its engineering edge. And there's a risk that too much knowhow will leak out to partners or give rise to a powerful new competitor.

Though leaky knowledge is a risk in any partnership, it's a trade-off that companies can manage in order to reap the efficiency benefits of specialization and collaboration. In the meantime, Boeing is honing new skills. "The knowledge that we have gained in organizing this program is a unique competency. I don't think there's anybody else that could do this," says Bair. And while Airbus is embroiled in difficulties, with some suggesting its new generation aircraft may never come to market, Boeing is now the darling of the industry.

Because mass collaboration applies to the world of atoms, in addition to the world of bits, manufacturers in industries around the world need to rethink their business models. How will global plant floors and collaborative manufacturing techniques play out in markets such as health care, diesel earth-moving equipment, or construction? Use your imagination. As Boeing shows, the sky's the limit.

Don Tapscott is chief executive of New Paradigm, a technology and business think tank, and the author of 11 books about information technology in business and society, including Paradigm Shift, The Digital Economy, and Growing Up Digital. His recent book Wikinomics: How Mass Collaboration Changes Everything is a New York Times bestseller. Anthony D. Williams is an author, researcher and former lecturer at the London School of Economics. He is vice-president and executive editor at New Paradigm and co-author of Wikinomics.

Why Advertisers Still Don't Get It

2007-03-24T10:21:00.000-07:00

It's time to remember that advertising needs brands more than the brands need advertising. A good product creates its own relationships

In the last month or so, the branding world has been buzzing about the merger of two wireless companies with different cultures, the resurrection of a dead man's body to sell popcorn, and the launch of a mobile phone by a company whose brand is known by the color white.

These stories about AT&T (T), Cingular, Orville Redenbacher, and Apple (AAPL) provide interesting and contrary cases of survival, all based on those brands' ability to build consumer relationships in an emotional way.

Take the case of the merging wireless brands. Wall Street and the financial community are truly excited—imagine the fees! In speaking to the business press, meanwhile, Cingular and AT&T executives focus on the financial impact the merger will have on the new company. They talk about "industry leadership," "great plans," and "investors' enthusiasm." In the same breath, they emphasize the biggest growth opportunity: the additional revenues generated by mobile advertising crammed into every corner of the consumer interaction.

Dominating Data

Where's the customer in all this? What about our privacy and our choice not to be hounded by brands we don't care about? Where's our benefit, beyond potentially lower costs? (And will that really filter through to the end user, anyhow?) The brand promise in this mega-merger is mostly opaque, and there's room to wonder what kind of benefit to consumers will be delivered by the management of those two generic stars. The missed opportunity is to use the media coverage of the merger to talk about consumer benefits.

People are the reason those companies exist and the key to their future success. Yet financial data dominate the dialogue, when the right brand message would increase loyalty and attract more users. AT&T and Cingular should focus less on the bottom line. The hysterical conversation about dropping the name Cingular is unnecessary, the focus should be on providing an inspiring future for people.

Inspiration is also missing from another recent campaign, this one from hot Miami ad agency Crispin Porter & Bogusky. No stranger to controversy, CPB has built its reputation on making advertising work in new media. It was one of the first companies to understand that people were spending more time in front of their computer screens than they were fast-forwarding through—let alone watching—commercials on TV.
Resurrecting Redenbacher

Remember the subservient chicken that reached millions of hamburger enthusiasts—as well as plain-folk looking for a good time online? Now, bizarrely, Crispin is stretching its famous formula for buzz to prop up Orville Redenbacher popcorn. The "chock full of popcorn" campaign revives quirky company-founder Orville Redenbacher, who died no less than 11 years ago. But here he is, in 2007, hawking his wares again.

The thinking behind the dramatic idea for this plain supermarket product was to create new appeal for the brand—and thus revive sales. It's a neat demonstration of how frustrated marketers are with the slow growth of their brands and how far they will go in their belief that advertising will solve the problem.

But for all the campaign buzz and blog-talk, nobody seems to care about Redenbacher's revival. One might even wonder if, by becoming the reborn star of his commercial, Orville might attract too much attention to himself and none to his product. The hype surrounding the communication might fail to draw new enthusiasm for the product itself. I wonder if this commercial isn't a sort of subconscious metaphor for how we keep propping up the lifeless tool of advertising, which is no longer the insipration it used to be.

That presentation, better than any commercial and with a much leaner investment, shook an industry and sent people into the future. The product and the design were the message that brought the audience to a frenzy. The iPhone reached all corners of the world in a nanosecond. Of course, Cingular, Apple's partner at the launch, was barely present at the party.

When will we stop building brands that somehow provoke a sense of contempt for consumers? When will we stop trying to build brand-trust using desperate old tricks repackaged to fit a new format? It seems that the more emotionally disconnected brands are from their consumers, the more they feel they need to spend on advertising.

The combined ad budget for AT&T/Cingular is over $2 billion, a lot of cash for generic brands that can't buy even a sliver of Apple's irresistible connection to its audience. Apple's marketing budget for 2006, according to TNS Intelligence, was $155 million—a fraction of what companies spend without achieving the same result.
It's the Product, Stupid

Understanding what the consumers want and bringing solutions that will inspire them is the most powerful way to support any business strategy. Putting consumers and the product at the center of the equation is fundamental to a brand's success. Design then becomes the message and the advertising, as it's proof of a company's commitment to people and to innovation.

A relevant and well-designed product will make its way into the world, will be spun across the blogosphere, will be sought after and endorsed in the most emotional fashion as a reward. Indeed, advertising needs brands more than the brands need advertising. When the commercial becomes more popular than the product, you really have a problem—not least that it doesn't serve your brand long-term.

In Apple's strategy, the product is the message and the only topic of the conversation. Similarly, the new Target drug packaging is the most talked about idea in the retail world at the moment, while Absolut Vodka is its own super-model. You buy a BMW because it's a great experience. You wear Crocs because they make your feet happy, and you relish the culturally colorful American Apparel brand—the approach is valid for small and big companies.
Focus on the Experience

In an emotional economy, success is judged by a profound and indelible connection with people through sensory experiences. The challenge for CEOs, CMOs, and clients the world over is to remember what's at the soul of their brand: the credibility of a well-respected product and the passion of the culture behind it. Design is the expression of that culture and the link that will cause people to be irresistibly drawn to the brand. If your brand doesn't connect emotionally, you will have to rely on media or advertising hype, a short-term and risky proposition.

By forgetting to focus on the way your product will be experienced, and failing to respond to people's need to be stimulated, you fail their expectations. No amount of money can buy the media to fix a boring product, no PR message will work once you lose that trust. The best brands of all jam with their consumers to invent and imagine ideas designed for the future—ideas designed to revive the advertising impact and exponentially maximize your communication dollars.

Marc Gobé is the Chairman and CEO of Desgrippes Gobé New York, a brand design firm. He is the author of Emotional Branding and has just released his latest book, Brandjam..

Honda investing in chips to help cars see

2006-09-20T09:26:00.000-07:00

Honda investing in chips to help cars see

Honda wants to give its cars depth perception.

The automotive giant has quietly put $5 million over three years into Canesta, which specializes in chips that help computers make sense out of 3D spaces. The company's best known product is a virtual keyboard: Users plunk down their fingers on the laser light images resembling a keyboard and their finger movements are translated to keystrokes.

Honda believes Canesta's chips could help drivers know how close they are to other parked cars, pedestrians, and get other similar, useful information. Automakers are also examining ultrasonics (sound waves) or stereoscopic technologies to give drivers better information about their surroundings.

"It provides a comparatively low-cost chip-based 3D 'camera' that could serve multiple applications from a single installation," said Toshinori Arita, head of venture arm Honda Strategic Venturing, in a prepared statement.

Conceivably, the chips could be integrated into the body of a car or the cockpit. Honda is still in the testing and design phase, although it has pinpointed car models that it will try to put the technology into, said Canesta president Jim Spare.

"We're initially focused on the slower speed applications," he said. "Things like occupancy sensing for air bag deployments."

Canesta's product consists of a light source, a pattern projector and a sensor. The light and pattern projector sends out a continuous rain of beams of light. When the signals bounce back, they hit the sensor, which creates a 3D image from the timing of the reflected signals and send it to the processor.

"The key innovation is that we don't have to do any processing of the data (on a microprocessor) to create a 3D image. The sensor calculates the distances," Spare said. "The microprocessor is used only for application processing. Is this a pedestrian or a tree?"

When something moves into a region patrolled by the chip, the signals bounce back at a different pace, and the 3D image is changed. Software translates the mass of data into information or an image that humans can understand.

Automakers have been dedicating more time and research into safety. Some of the ideas being explored include putting devices or systems in the car that would warn drivers of objects in the road or prevent the car from switching lanes when a speeding car is in the driver's blind spot.

Herman Casier, a researcher from Belgium's AMI Semiconductor speculated at a chip conference last year that by 2040, cars will drive on auto-pilot.

Spare added that Canesta has licensed its keyboard technology to a South Korean company who is looking for partners to develop it commercially.

YouTube teams with Cingular, ABC for talent hunt

2006-09-20T08:33:00.000-07:00

YouTube teams with Cingular, ABC for talent hunt

By Reuters
Published: September 20, 2006, 5:23 AM PDT

YouTube, the popular online video-sharing service, is teaming up with major marketing and media partners for a competition to discover the most talented unsigned bands on its site.

The promotion announced on Wednesday, called YouTube Underground, is the latest step by the start-up company to build a mainstream media model around the thousands of videos uploaded by users and receiving more than 100 million views a day.

Bands can submit original videos from Oct. 2 through Oct. 18, and site visitors will vote for their favorites. The finalists will appear on ABC's "Good Morning America" show. Walt Disney owns the ABC network.

Cingular Wireless also has signed on as a major sponsor.

YouTube, based in San Mateo, Calif., has been working on signing licensing deals with music companies and TV networks to ensure that they are paid when users view their content.

Earlier this week, YouTube announced its first deal to distribute music videos legally from a major music company by agreeing to a deal with Warner Music Group, home to Madonna and James Blunt.

Using technology developed by YouTube, Warner Music will be able to identify which of its music videos and audio tracks are consumed and get paid for them. It can also use the system to identify copyright-infringing material posted by users and ask YouTube to remove such material.

EU data guru: Privacy advocates not a problem

2006-09-20T08:26:00.000-07:00

EU data guru: Privacy advocates not a problem

By Jo Best
Special to CNET News.com

Published: September 20, 2006, 7:51 AM PDT

The European Union's data protection head has refuted claims that privacy advocates are blocking governments' attempts to pass so-called antiterror legislation.

The EU's data protection supervisor (EDPS), Peter Hustinx, said effective legislation cannot exist without data protection controls. Including such measures in new laws can only improve them by introducing safeguards to make sure only the right individuals can access sensitive details, he added.

"It is a misconception that protection of privacy and personal data holds back the fight against terrorism and organized crime," Hustinx said in a statement.

According to the EDPS, data about European citizens will be used increasingly as governments seek to thwart terrorist activity. The EDPS has warned that institutions are not informing citizens about how and why their data is being processed and as a result they are unable to exercise their rights properly.

The EDPS also has regularly accused lawmakers of not taking data protection seriously enough.

"I believe that politicians, people--you, I, everyone else--have to be aware of the real threats," Hustinx said in a recent interview with Silicon.com. "At the same time, that is not going to justify disproportionate solutions. It is going to hurt the texture of trust and confidence."

Hustinx has also voiced his doubts about the effectiveness of the European data retention directive, introduced in the wake of recent terrorist attacks. The directive mandates that communications providers must keep records relating to short-message service (SMS) messages, mobile and fixed-line calls, and online activity.

Now the data retention debate has spread to the U.S. Attorney general Alberto Gonzales this week stepped up efforts to lobby for a similar directive to be passed in the U.S., saying: "This is a national problem that requires federal legislation."

Jo Best of Silicon.com reported from London.

Simplicity key for Musk's rocket science

2006-02-25T04:59:00.000-08:00

February 22nd, 2006
David Grant

Innovator shares unique business perspective

It took four years for Elon Musk to turn his first start-up, Zip2, into a $307 million cash sale. It took four years for Musk to make PayPal the largest online payment provider in the world, only for eBay to make it the site’s primary payment engine to the tune of a $1.5 billion. It’s been four years since Musk’s Space Exploration Technologies Corporation, or SpaceX, came into being in El Segundo, Calif., and it has yet to launch a rocket. But if past success is any indication, he will. In a big way.

“I said I wanted to take a large fortune and make it a small one, so I started a rocket business,” Musk mused to widespread applause last night in Burruss Hall, the second speaker in the Engineering Excellence in the 21st Century Lecture Series. “But the ultimate goal is to make life multi-planetary.”

Musk, a native of South Africa that immigrated to Canada at age 17, unveiled a pure inventiveness characteristic of all of his business pursuits: the motto of his 175-member current company is “keep it simple.” Vertical integration, more engineering (“signal”) and less management (“noise”), and simplicity in design that Musk was shocked hadn’t been employed before are all hallmarks of a company that professes to be able to launch rockets for 25 percent of the cost of space big-boys Lockheed Martin and Boeing.

Despite Musk’s even demeanor, being a small company hasn’t been easy on SpaceX. The company filed a lawsuit against Boeing and Lockheed on Oct. 18, 2005, saying that the union of the two would be tantamount to conspiracy to stifle contracts, specifically those from the Air Force, through 2011.

“If you’ve got a great rocket and the Air Force can’t buy it from you,” you have a problem, Musk said. “They can’t compete with us on a level playing field . . . If I were them, I would be trying to tilt the playing field. The jury is out on whether that will happen.”

While admittedly far into the future, making expanding humanity’s universal footprint is a stated goal.

“As life’s agents, it’s on our shoulders,” to expand life to places where none has been detected, Musk said.

The SpaceX website specifically cites universities as beneficiaries of what the patron of the Lecture Series, Pat Artis from the class of ‘72 called the company’s effort to “change the economics of space flight.”

Charles Hill, professor of aerospace and ocean engineering, said the university had a $1 million spacecraft that was mothballed after the Columbia explosion.

The talk was attended heavily by engineering faculty, but former engineering dean Hassan Aref noted that it was “a pity that there were so few students this year,” saying that last year’s talk attracted greater numbers.

But Musk’s entrepreneurial spirit was encapsulated best by the fact that the owner of a Porsche Turbo, not to mention a McLauren F-1, will soon be leaving his beloved roadster for an electric car created by a Musk-funded company.

“It actually has better performance than the Porsche,” Musk said.

Passwords Passé at RSA

2006-02-18T07:25:00.000-08:00

By Ryan Singel | Also by this reporter
02:00 AM Feb, 17, 2006 EST

SAN JOSE, California -- Identity theft and online bank fraud were the unofficial themes of the 2006 RSA Conference, a massive security confab where Bill Gates came to announce the imminent death of the password and vendors filled the exhibition halls with iPod giveaways and promises that their product could stop everything from spam and malware to hackers and typos.

Thanks to a California law known as SB 1386 that requires companies to disclose sensitive data leaks to California consumers, companies like ChoicePoint and shoe retailer DSW became poster children for corporate negligence last year after mishandling sensitive data.

In the wake of Senate hearings and investigations from federal regulators, corporations are beefing up security, both behind the scenes and at their virtual front doors. To find out how those changes will affect consumers in their daily online activities, Wired News surveyed the offerings of the over-250 security companies packed into RSA's exhibit hall, accompanied by cryptographer Jon Callas, who has been attending the conference since 1993.

Callas is currently the CTO of PGP, the industry leader in encrypted communications and data storage.

Perhaps the biggest change this year will be in online banking, as financial institutions move to comply with federal oversight agencies that are directing banks (.pdf) to secure their sites with more than just user logins and passwords.

These extra fraud profiling and authentication measures are necessary, according to Callas, since the threats on the internet have changed.

"Now we are not dealing with kids having fun," Callas said. "We are dealing with criminals -- the Russian mafia. And online banking risks are there if your bank offers it, even if you don't use it."

E-trade, for instance, already offers free RSA security tokens to its most active users. Those battery-powered devices work by using a using a seed number and the current time to cryptographically generate a secure one-time code to complement the normal user login and password.

But those gadgets aren't cheap and most people don't want multiple tokens or prefer not to carry them around. That's prompted newcomers to find alternative methods of performing "two factor" authentication.

Callas likes PassMark Security's solution, which examines the device a user logs in from, looking for a number of factors including IP address and a secure cookie or Flash object the bank has previously stored on the machine, as the extra identification.

Bank of America began offering the service in May 2005. Now a Bank of America customer logging in at the usual time from her usual machine will only need to enter the user name and password. But if that person is on a different machine using a different browser in a different time zone, for example, she will be presented with challenge questions that she answered when she signed up.

Users could also be sent an additional one-time password by SMS text message or called on their cell phone by a machine using a synthetic voice to tell them an extra password.

Additionally, PassMark helps keep users from entering passwords into fraud sites pretending to be their bank by displaying a unique image and caption, such as a sailboat labeled "Dream Boat," on the real site.

The authentication back to the user is great, and can't easily be hacked without detection, according to Callas. And while it won't eliminate crime, it might be enough to persuade would-be fraudsters to go after a different bank, Callas said.

"It is reasonably valuable if you can convince someone to steal from other people," Callas said.

Another authentication method that caught Callas' attention was by BioPassword, a company that adds an extra layer of security by locking out users who don't type in a password with the same typing style as the original user.

Callas says he's generally not bullish on biometrics like fingerprint readers for e-commerce, since, like credit card numbers, the data can be stolen.

But he likes the typing rhythm idea, because unlike a fingerprint, the user can easily reset the system. "If you pick a new password then you will have a new rhythm," Callas said. "That's the disposable biometric."

The system does have one side effect that may or may not be a bug, admits BioPassword vice president Dean Bravos. Users who have been drinking may not be able to log in.

These two companies aren't the only ones trying to find ways to add extra authentication without requiring users to carry around security tokens.

Conference organizer RSA Security, the undisputed leader in security tokens, recently acquired Cyota, which offers financial institutions methods to authenticate users based on their usage patterns. Cyota technology looks at such metrics as users' cookies and IP address, in combination with their transaction history -- so a middle-America socker Mom sending sending $2,000 at 2:00 am to an account in Turkey might raise a red flag.

Other new offerings from RSA Security include a browser toolbar that works like a security token, and software that can turn a mobile phone or a BlackBerry into a token.

Even mostly invisible, behind-the-scenes authentication will help internet users feel safer, as banks and brokerage houses can now offer financial guarantees to their customers, according to Scott Young, the vice president of RSA/Cyota's consumer division.

"A lot of us are familiar with the experience of getting a call from a credit-card company, saying, 'Hey, did you make this transaction?,'" Young said. "Even though we don't see that going on all the time, the reassurance of having someone check with us, even if it was us making that transaction, is really valuable.

"Likewise, most of the time, consumers are not inconvenienced by (RSA/Cyota's) extra security but a decent percent will know, since they have will some interaction with the security system at some point, that they are being protected."

Here Comes a Google for Coders

2006-02-17T05:26:00.000-08:00

Here Comes a Google for Coders

By Dylan Tweney | Also by this reporter
02:00 AM Feb, 17, 2006

For most people, open source is a synonym for free software. But for programmers, open source is about sharing code, building on the work of others and not having to reinvent the wheel -- at least, that's the ideal. In practice, code reuse remains very low, because it's often too hard for programmers to find relevant bits of code for their applications.

A new search engine for programmers promises to alleviate that problem by making it easier to find and share code. That in turn could increase programmers' productivity and give a fresh boost to the open-source movement.

Krugle, which launches officially next month, indexes programming code and documentation from open-source repositories like SourceForge and includes corporate sites for programmers like the Sun Developer Network. The index will cover around 100 million pages of what company founder Ken Krugler terms the "technical web" -- high-quality technical pages for professional programmers. (By contrast, Google's index covers about 11 billion pages.)

"This winds up being a window on all the open-source code in the world," said Krugler, who estimates the Krugle index will contain between 3 and 5 terabytes of code by the time the engine launches in March.

The new service joins other source-code search engines like Koders and Codefetch, but Krugle intends to differentiate itself by allowing developers to annotate code and documentation, create bookmarks and save collections of search results in a tabbed workspace. Saved workspaces have unique URLs, so developers can send an entire collection of annotated code to a co-worker just by e-mailing a link.

Krugle also contains intelligence to help it parse code and to differentiate programming languages, so a PHP developer could search for a website-registration system written in PHP simply by typing "PHP registration system."

Greg Olson, a co-founder of early open-source success story Sendmail and a consultant with the Olliance Group said Krugle will make it easier to reuse program components -- something that the open-source movement has long promised, but never effectively delivered on. (Olson advised Krugle on the startup's open-source usage.)

"It's so cumbersome now to use tools like Google to search for code that the majority of programmers just write their own code," said Olson -- even if they know that an open-source component is probably available that would meet their needs. "If you can't find the pieces, it's too frustrating to try to reuse components. But if you can reuse components, you can get a factor-of-10 improvement in productivity."

Simon Phipps, the chief open-source officer for Sun Microsystems, said Krugle could be useful as a learning tool, but the many different licenses that apply to open-source code are a potential stumbling block. In addition to the widely used Gnu Public License, Mozilla Foundation projects have their own licensing terms -- and copyright holders may retain some rights even in otherwise publicly available open-source code, said Phipps.

"Let's say you turn up a bit of code that's licensed under the GPL … if you use it, that means your whole project needs to be licensed under the GPL. I hope that people are aware of these issues, because the licensing situation could get pretty hairy."

Krugle will make money from advertising on its free, public search engine. The company is also planning to create an enterprise edition, due in 2007, to facilitate code-sharing within companies.

Business Technology: After 10 Years And 500 Columns, It's Time To Go

2006-02-16T18:04:00.000-08:00

Business Technology: After 10 Years And 500 Columns, It's Time To Go

Bob Evans turns to online projects full time, taking with him fond memories of the business-technology community.

By Bob Evans
InformationWeek

Feb 13, 2006 12:00 AM

With all due respect to the immortal Lou Gehrig, I must beg to differ with him over one important detail. On July 4, 1939, when Lou retired from the New York Yankees, he said, "Today I consider myself the luckiest man on the face of the earth." But folks, I have to tell you, neither Lou Gehrig nor or anyone else could be blessed with more good fortune than I, because for the past 10 years I've had the greatest job in the world: working among and serving all of you extraordinary business-technology leaders.

To understand my sassiness in trying to nudge Lou Gehrig aside for just a moment, just take a look at what I've had to do during that time: talk to smart and interesting people about the innovative things they were doing, and then, each week, come up with one--just one!--even mildly interesting idea from all of those conversations and ruminations. And then write about it for a while. And then go talk to more smart people who were changing the way the world works and lives and learns and plays and communicates, and come up with one more decent idea every seven days.

That's it--that's all I had to do. So I went out among you as frequently as I could and kept my eyes and ears open and my mouth shut. You did all the heavy lifting: providing the original ideas, the insights and the innovation, and even the cuffs about the ears when I got out of line or was just plain wrong. And I was lucky enough to get to share my reflections with all of you more than 500 times.

On top of that, my brilliant, industrious, and often-saintly colleagues made my job simpler still by providing me with endless inspiration, context, advice, and counsel. They caught as many of my egregious errors as is humanly possible, they somehow managed to polish the dross I delivered to them, and they hid from all of you some truly awful stuff that I thought was just peachy. No one could have had a more dedicated, caring, and professional network of deeply conscientious and high-achieving colleagues; I shall miss them terribly.

But nothing stays the same, and after two years of splitting my time between InformationWeek and online projects around our parent company, it's time for me to turn my full attention toward these online pursuits. I take a lot of comfort in knowing that once InformationWeek gets in your blood it never really goes away, so I'll retain some collaborative connections with InformationWeek and will remain on top of what's going on in your wonderful world of business technology.

And as if getting rid of me isn't good enough, the person who'll be taking over this back-page space starting Feb. 20 is an outstanding and deeply respected colleague, Rob Preston, who will no doubt instantly set new standards for clarity of thought and relevance of content. For the past few years, Rob has been editor-in-chief of InformationWeek's sibling, Network Computing, and before that he was a high-level editorial manager at InformationWeek. See what I mean about what happens once InformationWeek gets into your system? (P.S.: For those of you who like poker, be very careful if you get into a game with Mr. Preston.)

While many, many people deserve my thanks for this glorious, decade-long ride, I'd like to mention a few insiders: outgoing editor-in-chief Stephanie Stahl, who made all things not only possible but indeed excellent, and whose intelligence and grace will continue to be part of InformationWeek in her new role of expanding our streaming-media content companywide; top editors John Foley, Chris Murphy, Stacey Peterson, and Brian Gillooly, whose leadership has been bold and innovative; John Soat, who inspired us all first at InformationWeek and now at "The News Show"; our copy and design teams, whose commitment to excellence has always humbled me; and all the reporters and editors whose tenacity and talent demonstrate passionately each day that we are here to serve you.

And externally, my undying thanks to C.K. Prahalad and M.S. Krishnan for their inspiring genius; to Randy Mott for his softly stated but profound wisdom; to Rob Carter for his priceless commitment and deep insights; to Jim Cash for his vision and breakthrough leadership; and to all of you for letting me wander among and listen to and learn from you, and for making me, over these past 10 years, the luckiest man on the face of the earth.

Keep changing the world, folks--it's a better place because of what you do. I'll see you around.

BearingPoint to Sell Google Business Technology

2006-02-16T17:08:00.000-08:00

BearingPoint to Sell Google Business Technology

RSS Feeds From ABC 7 Tuesday February 14, 2006 8:13am
McLEAN, Va. (AP) - A local consulting firm has struck a deal with Google to sell and integrate technology the Internet search giant created for corporations.

McLean-based BearingPoint is set to announce the deal Tuesday and is creating a 100-person unit for the venture. Executives with the consulting firm tell The Washington Post they don't know how much revenue will result from the deal.

Google has a product to allow companies to quickly search through data - including sales records, personnel files and other reports. But the product has not shared in the success of Google's Web search engine.

BearingPoint's deal with Google is not exclusive, so other firms may make similar agreements.

How Business-to-Business Works

2006-02-13T17:00:00.000-08:00

How Business-to-Business Works

Unlike retailing, which is mostly a Business-to-Consumer (B2C) industry, B2B deals with working with vendors, distributors, and other businesses. How does Business-to-Business (B2B) work, and especially how does it work for retailers?
There are different types of B2B ecommerce sites that work in various ways and are broken into two major groups: the verticals and horizontals. Verticals are B2B sites designed specifically to meet the needs of a particular industry, such as retail. Vertical sites are the most likely to contain community features like industry news, articles, and discussion groups.
Horizontals provide products, goods, materials, or services that are not specific to a particular industry or company. Horizontals that retailers could use might provide travel, transportation services, office equipment, or maintenance and operating supplies.
Horizontals and verticals can connect buyers and sellers together directly or act as intermediaries who facilitate transactions. There isn't one ubiquitous model for B2B electronic commerce. B2B sites vary from those providing simple lead generation, to complex marketplaces serving a variety of buyers and sellers, to private extranets.
Auctions allow multiple buyers to bid competitively for products from individual suppliers. Auctions can be used to get rid of surplus inventory by item or lot, or excess fixed assets like display fixtures. Since the seller can set a minimum price with prices moving up from the minimum, the sellers can usually get more than a liquidator would pay for the same items. Buyers also have the ability to pick up product and equipment well below list prices.
Reverse auctions, in contrast, allow retailers to post their need for a product or service and then allow vendors to bid on fulfilling the need. Some reverse auction sites aggregate demand from many small buyers providing economy of scale. Small retailers ordering as a group will get a much better deal from a vendor than they could individually.
B2B sites also include catalog aggregators who act as intermediaries between many vendors and retailers. They standardize content by combining catalogs from multiple vendors. Catalog sites generally have fixed pricing, although pricing may be tiered based on the buyer's profile or quantity ordered.
Exchanges are two-sided marketplaces where buyers and suppliers negotiate prices. Frequently utilizing a bid/ask process where prices move up and down depending on the market. Exchanges can be used for new items and supplies, or used to trade excess inventory and fixed assets.
B2B sites can also provide project tracking or collaboration services to their members. Collaboration allows retailers and vendors to work on new products, provide better forecasts, and improve response.
Buyers and sellers can come together on B2B sites openly or by using infomediaries. Infomediaries are third parties that act as agents. They are frequently used to allow the participants to remain anonymous while transacting business. In addition to transaction services, an infomediary could provide advice or research helping retailers make informed buying decisions.
Facilitating B2B ecommerce in yet another way, are the channel enablers who create online marketplaces for existing distribution channels. Channel enablers support both buyers and sellers with B2B ecommerce services that vary from consolidating product information, to managing distribution and payment, to integrating with the members' back-end systems. This last service is a common use of channel enablers in the retail B2B area: translation services to EDI.
The translation service is needed because the underlying technology of B2B ecommerce replaces the current retail ecommerce standard, EDI (Electronic Data Interchange). EDI is less standardized and more costly than Internet based ecommerce, which typically uses XML (eXtensible Markup Language) to allow buyers and sellers to communicate online. Many B2B sites integrate EDI-to-XML transactions enabling trading between large and small companies.
XML provides a flexible way to describe product specifications or attributes. In simple terms, XML is similar in concept to HTML, which allows you to "mark up" language to control how it looks. Unlike HTML however, XML allows you to "mark up" language to describe what it is. Using XML you can label part number, UPC, price, color, size, etc. and the system will know exactly what the tag references without the complicated file structures and proprietary networks required for EDI. The only issue is that XML only works when everyone uses the same tag references, which is why groups are busily working to generate standards.
What do retailers need to know about these standards and how do B2B systems work with their existing legacy systems? Find out in the next installment of B2B for retailers.

Ten Steps to Becoming a Virtual Success

2006-02-13T05:21:00.000-08:00

Ten Steps to Becoming a Virtual Success

By Chris Ogburn

Being virtual is simply a great way to start a company, especially if you can work from a home office or out in the field. I lead a team at HP that has met with nearly 8,000 small business owners around the globe through our work with the U.S. Small Business Administration’s National Business Matchmaking initiative. It's a program designed to give that sector access to key decision-makers in local, state and federal government agencies.

One trend that really stands out among small businesses is the rise in virtual workers. It's up by 800 percent in just the past five years, according to Nemertes Research. After sharing many discussions with business-owners who are going virtual, I've developed the following tips for starting a virtual business. With some thoughtful planning, operating a business out of your home could open you up to the joys of self-employment without all the overhead!

Make sure your business can operate “virtually.” First things first: Some professions simply lend themselves to virtual operation more than others. It's important to think about this before making the virtual commitment. Some key questions: Do you meet with contacts at your place of business, or theirs? Do you spend most of your time outside the office?

Good candidates for a virtual business include architects, interior designers, home builders, computer professionals, accountants and other service professionals. These are businesses in which most of the work actually is done in other people's homes or businesses. Poor candidates for a virtual business are physicians, mental health professionals and manufacturing businesses that rely on a warehouse.

Consider your personality. Are you a self-starter, or do you need inspiration from others to get things done? Do you prefer quiet time to work, or do you thrive around other people who can provide reinforcement and support? Are your management skills suited to a phone-based relationship with your remote team?

Hire the right people. Do you have trustworthy employees who can get the job done, even if they are not physically in the same office? How much of their work is actually done outside the office? Can you trust your existing staff to work independently from a home office? Do you have access to a mature talent pool of potential employees if you are just starting out or planning to expand?

Leverage technology. Do you have the technology in place to support a virtual business, or a good technology advisor who can help wire your business for success? Did you know that with voice-over-Internet (VoIP), you can place a call anywhere in the world from an Internet connection without incurring long-distance fees? Have you considered streamlining your office with all-in-one fax-printer-copier equipment, notebooks, and a wireless LAN network? What about instant messaging and the latest Skype technology to stay connected with employees? Thanks to technology, many virtual companies have the face of a traditional company – yet operate with lower overhead and greater flexibility to stay competitive.

Create an online storefront and take advantage of ecommerce. An online presence can give your business the appearance of a traditional brick-and-mortar company. Companies such as eBay and JetBlue have proven that virtual offices work. Small companies can grow into larger companies with an effective virtual business strategy.

Find a part-time virtual office space for “on-site” meetings. Services such as The Intelligent Office enable small businesses to emulate the image and professionalism of a traditional office. They provide everything, from a prestigious business address to impressive offices and conference rooms that rent by the hour, day, or week to a listing on the office building’s lobby directory. You can also check in your area for shared office spaces.

Brand your business. A company web site, email address and corporate identity package adds credibility to your business. Consider using a service such as HP's LogoWorks to design your logo at a fraction of the cost that a designer would charge. You might even develop your own business package--from business cards to PowerPoint presentation templates--that incorporates your brand.

Collaborate with employees and customers. An intranet and extranet will keep your virtual team connected. They also will make customers feel like part of the team by empowering them to access documents, files and online meetings. Have you considered the latest in Web-based meeting and training rooms? Even large companies are replacing in-person meetings with these convenient meeting tools.

Go wireless. The mobile workforce really does exist. Arm your team with PDAs and smartphones. For added security think about connecting through a wireless virtual private network (VPN) and watch your productivity expand. Even away from the home office, your employees can tap into Wi-Fi networks at the burgeoning number of Wi-Fi hotspots, which include Internet cafes, airports and hotels. And don’t forget Web-based and hosted mail and messaging services.

Take security to heart. Computer security can be a real threat. Fight back with anti-virus, vulnerability and business protection solutions to protect data and secure your networked PCs. And don’t forget about a good consultant to advise you on the solutions that best suit the needs of your business.

Follow these tips and put your talent to work by starting a virtual company. With the right frame of mind, a few trustworthy employees and an infrastructure in place, you can grow your business in no time and enjoy the benefits of working from home.

Making business through Internet.

2006-02-13T00:34:00.001-08:00

News :

January 25, 2006 07:00 AM US Eastern Timezone

Different or Similar? Technology Gap Between Small Offices and Home-based Businesses Is Decreasing, IDC Finds

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Jan. 25, 2006--Very small offices (SO) and home-based offices (HO) are often regarded as distinct markets for the purpose of IT marketing and sales: one is part of small business, the other part of consumer. In many respects however, they are very similar, and the technology gap between the two segments will decrease in the coming years, a new IDC study reveals.

"The SOHO market continues to bridge the consumer and commercial technology space, with significant opportunity for suppliers who can deliver affordable, easy to use solutions", said Merle Sandler, senior research analyst for SMB and Home Office Market at IDC. "Whether operating inside or outside the home, SOHO customers are interested in advanced technology that can help them grow their businesses."

Among key highlights of IDC's overview of SOHO firms are the following:

-- SOHO firms will reach 23.1 million by the end of 2009.

-- Penetration rates for cellular phones, PCs, and inkjet printers are similar and substantial for both SOHO segments.

-- Monochrome laser printer ownership is higher in small offices than in home offices, but with declining prices, color laser printers will be increasingly attractive to both segments.

-- LAN usage is higher among small offices than home offices, but networking use will grow significantly in both types of businesses in the coming years.

-- Online small offices are more likely to have a home page than are online home offices, but home offices with a home page are more likely to be selling online.

IDC's new study, SOHO Market Overview 2006: How Similar Are Small Businesses with Fewer Than 10 Employees and Home-Based Businesses? (IDC #34776) examines the similarities and differences between SOHO firms - small offices with fewer than 10 employees (SO) and income-generating home offices (HO). The study forecasts the growth of both SOHO segments and compares their use of technologies including telecommunications, PCs, printers, LANs, Internet and ecommerce.

Making business through Internet.

2006-02-13T00:34:00.000-08:00

How you can develop one business online with niche-market and customer buy everyday and you enjoy develop your business with your plan.

News and technology are important for you to know and apply it for your business. Especially if your business is advance and can expand beyond your target.

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Making business through Internet.

Making business through Internet.

A Few Things Ive Learned About Doing Business On The Internet