Quick Product Creation – How to do Product Creation

Product creation is basically an easy concept, if you can use your creativity and ingenuity in creating something unique and useful to others. Remember that knowing and deciding what to do can be considered to be victory over half the battle.

Today the most profitable products for creation are e-books and software in addition to video tutorials and the selling of them as information products. e-books that are informative are most popular as they are practically free and are easy to maintain and distribute. People are always on the look out for information that teaches them the art of new skills; and they are ready to pay for the product.

Software products too are popular as they have a higher perceived value than e-books and can be sold for more. However software do cost more when you have to maintain the software by updating the software in a regular basis. Even video messages and audio recordings are rather popular among customers because no one is actually patient enough to read over fifty pages in text and would rather prefer to watch or listen to any information through other sources.

Finding the right and hungry crowd offers success to the product creation as different people have different needs. it is only if you can find niche markets and can satisfy the needs of customers will you be considered a success in product creation. Use keywords in the website of your product so that there will be more people directed to your product creation. All these steps induce success with your product creation.

Hiring An Auction Company

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.

New Online Shopping Deals Through Reverse Bid Auctions

Consumers are always looking for a way to save money on the items they want or need. Most of the items purchased online are luxury items and not necessarily a necessity. People need these luxuries to entertain themselves and when they can find these goods at a fraction of the cost they’re quick to spring on them. For years people have turned to sites like Amazon and eBay to find the lowest prices on consumer electronics and other goods but things are changing as people consider the potential discounts available.

One of the primary differences between traditional auction sites like eBay and pay per bid auction sites is that buyers pay a fraction of the cost consistently. This rarely happens on major auction sites, where the final cost is often just under the retail value. Image the delight of buyers on bid auction sites that get a MacBook or new LCD television for under $100.00.

This goes to show why reverse auctions and other pay per bid auctions have grown steadily in popularity as more people discover the savings to be had beyond the traditional auction model.

In a traditional auction buyers are competing against one another to purchase an item from a seller. As they bid, the price increases until one person stands out willing to pay the highest bid. The auction finishes and the product goes to the highest bidder.

Reverse auctions work in much the same manner in that they have a seller that’s offering an item for sale. A number of buyers all bid competitively in order to win the item that’s being sold. That’s where the similarity ends however. In a reverse auction, bidders are placing bids in order to drive the price down. When the auction finishes, the item goes to the lowest bidder. Some auctions force you to drive the price to zero before you can win, others let you continue to bid down the price until the price just gets to be too tempting and someone scoops it up in a “buy it now” fever.

Reverse auctions and other bid auctions have matured into a billion dollar global business yet they tend to remain under the radar. The primary reason is because they’ve only become common to consumers in recent years. Previously, these types of reverse auctions were used by business to business networks and government agencies.

There’s a great deal of excitement for consumers now, and it’s helping that popularity climb as more people hear about. The tension and nail-biting excitement really gets people going and can cause the adrenaline to surge in the last minutes and seconds of an auction. In many reverse bid auctions the potential buyer has to make a decision quickly about buying an item as they reveal the price lest someone else scoops it up.

With many bid auctions, there’s a constant overhanging chance that the item could get scooped up by another bidder at any time. Gone are the days of the constant flow of bids and “outlasting” other bidders. A strong strategy is needed for buyers that want to take a great deal home without overpaying in the excitement of the auction.