The benefits of home based businesses are vast. According to Forbes work from home businesses are the fastest growing segment of start-up companies in the U.S. With the economy beginning to recover many people are opting to start their own business for the benefits it provides.In addition many people are willing to take a chance of making it on their own rather than getting back into the rat race and facing an employment sector where job security has become a myth.7 Benefits of Home Based BusinessCommute
Dress Code
Earning Potential
Flexible Hours
Less Risk
Overhead Cost
Tax AdvantagesCommute: Gone are the days of the pleasurable morning commute. The Millennial generation has sparked a change from the traditional 9 to 5 work week and looking for options such as, flex-time, 4-day work weeks, and telecommuting. Well, home business entrepreneurs are able to work from home while saving on the rising cost of gas.Dress Code: Most companies have dress codes that require workers to adhere to. Working from home allows a person to dress how they choose without losing productivity. Home business individuals can have teleconferences from home in their birthday suit or video conference meetings with a dress shirt on and pajama bottoms.Earning Potential: How many times have you felt you were passed up for a promotion or not given a raise because of a bad performance review? Working from home gives individuals the potential to proportionately make what they are worth. In other words the harder you work improves your chances of making more money. No need to ask for a raise or wait for the next promotion.Flexible Hours: If you are working in a normal business setting your hours of work would most likely be 9 to 5. In a work from home business your office hours are what you make them. Depending on your personality you can schedule your work to take place when you are most productive, whether that is in the morning, noon, or night. This is turn allows you to plan your work around your family duties (for work at home moms or dads) and gives you better control of a work-life balance.Less Risk: There is inherent risk with any business opportunity, but home based businesses offer less risk than the traditional brick-n-mortar business or buying a franchise. In addition, once your business is up and running your overhead cost are lower and the maintenance is easier.Overhead Cost: In comparison to a traditional business overhead cost can be one of the major expenses in a building. From paying rent, a lease or mortgage on a building to the utilities, these expenses can be a major drain on profits. In work from home businesses, overhead cost can be kept to a minimum and many of the expenses are tax deductible.Tax Advantages: This can be one of the greatest benefits of having a work from home business. Business lunches, business travel, a home office, and a portion of your home utilities are all examples of tax-deductions. Consult a tax professional when filing your tax returns, but many of the expenses related to your home based business are legitimate deductions that can lower your tax burden and in turn allow you to keep more of the money you make.Though this article covered the benefits of operating a home based business there are negatives as well, but getting into any business opportunity has positives and negatives, ultimately you have to do what is right for you. But beginning a home based business can be a chance for you to follow your passions and build an income producing vehicle that unleashes your creative abilities.Here’s to thinking like an entrepreneur and achieving your dreams.
7 Benefits of a Home Based Business
Small Business Access to Credit – The Startling Facts You Need to Understand to Clear the Hurdles
Can you believe that 50% of first year businesses do not make it to the next year? Did you know that 95% of businesses fail within 5 years of being established? It is because of these percentages that lenders and other financial organizations consider many small businesses to be ‘high risk’.High risk businesses (and even some non-risk businesses) have an extremely difficult time finding and obtaining business credit. So, why are lenders so afraid to lend out funding to start-up and current businesses?Let’s take a look the real side of small business access to credit….Uncertain EconomyAn uncertain economy has a lot to do with the ability of a small business access to credit. During a recession, or even a falling economy, people are not spending money. Therefore, they are not going to small businesses for materials like they do when the economy is good.Small businesses are not getting near enough business to stay afloat and lenders are perfectly aware of it. Lenders are skeptical to lend out money in fear of never seeing repayment.Outstanding Loans And Credit Card BalancesThis goes hand in hand with the uncertain economy. More business owners default on a loan during a rough economy. Lenders have hundreds of thousands of dollars in back loans that they are unable to provide more opportunities for small business access to credit.If they are not paid for the capital they have lent out, they could risk going out of business themselves. This is especially true for private organizations that need the paid interest rates on loans and credit cards to keep them going.Lending Standards Restrict Small Business Access To CreditThe lending standards that the government places on small business loans and credit cards have a lot to do with small business access to credit. Tighter regulations for small business loans means less and less business owners will qualify for the credit they need to keep their businesses in business.Stricter regulations will help the lenders keep the money in house, but they will also increase the unemployment rates as small businesses will be going out of business. It is critical that small business access to credit be open or we could see a drastic decrease in the amount of business opportunities available to people.All of these factors contribute to why lenders are not offering business credit to businesses. Small business access to credit is becoming smaller and smaller and smaller. So, if you are considering starting your own business I want you to understand the ‘Why’ so you feel more confident when you begin your quest to obtain credit for your business.Hey! It’s not just me whining and crying. This attitude is out there regarding small business credit. I am just letting you know. Here is just one article in The Wall Street Journal – A Credit Crunch That Lingers.Keep in mind that this type of thinking and this flow of information will discourage a lot of people from seeking small business credit leaving more opportunity for those that do want to succeed and who also realize that it is just a matter of understanding how the credit game works when it comes to getting business creditKnow what to do and how to do it, and ideally before you start to do it, and your chances of success will be much higherAnd after all, how can we expect a business to flourish when there is very little small business access to credit? It almost seems as though businesses are being set up just to fail…. BUT!Remember the more people turned off by all the negative news on the economy is this ‘credit crunch’ the more room left for you to bear down and start or expand your business!
How Important Is the Fundraising Auctioneer to the Success of Your Event?
I want you to think about the term “Fundraising Auction”.
A “Fundraising Auction” is an event where items of value are gathered, and then sold in a competitive bidding situation, either in a Silent Auction format, or in a Live Auction format by a Live Auctioneer. And since typically the best items are saved for the Live Auction, arguably it is the Live Auction that should generate a significant portion of the proceeds in any Fundraising Auction.
So why do so many non-profit groups consider the Fundraising Auctioneer to be the least valuable component in a Fundraising Auction?
The Hosting Facility gets paid.
The Printer gets paid.
The Caterer gets paid.
The Liquor Store gets paid.
The DJ gets paid.
The Florist gets paid.
But the Auctioneer … the individual who is expected to raise the lion’s share of the event’s proceeds… is expected to work for Free. And is usually under-appreciated for the professional services he/she provides.
I’m not trying to underscore the value of the invitations & programs, food, booze, music, and decorations. All are important in their own way. But each of these are “Expenses”. It is the Auctioneer who is going to bring “Revenue”… and thus, the “Profits”… into any event. Which is the ultimate objective of any Fundraising Auction.
Here is a real-life example of how under-appreciated the Auctioneer can be. In two comparable events we worked last year, during the dinner portion of the event one non-profit group sat the Auctioneer (me) at a table with the DJ, the Interns, the Volunteer Staff, and other event “Help”. The 2nd non-profit group sat the Auctioneer (me) directly next to the CEO of their organization, where we chatted about how important the pending revenue would be to their organization. Which group do you think valued the services of the Fundraising Auctioneer more?
Don’t ever under-estimate the value that a professional Fundraising Auctioneer can bring to your event. The Auctioneer adds value as a pre-event consultant. And the Auctioneer can change an event from a moderate to a huge success.
A Case Study Once I was scheduled to call an Auction for a major local non-profit group. They represented a very good cause and they had a strong and dedicated following. Their event was sold out, quality Live & Silent Auction items had been solicited, and the Special Pledge Appeal had been choreographed and was ready to go. The facility was first class, the appropriate caterer was booked, and the food was ready to cook.
But quite unexpectedly, some unseasonably inclement weather forced the event’s cancellation. Despite all of the committee’s hard work, cancelling the event was the proper decision considering the circumstances.
So the Event Committee scrambled to re-schedule the event for the following weekend.
They confirmed with the Hosting Facility.
They confirmed with the Caterer.
They confirmed with the Liquor Store.
They confirmed with the DJ.
They confirmed with the Florist.
Since they already had the Mailing List of those scheduled to attend, no new invitations had to be printed as all were contacted by email or telephone. So with everything in place, the group went ahead and re-scheduled the event for the following weekend.
But guess who they failed to confirm? You got it… the Professional Auctioneer. They thought so little of the Auctioneer’s contribution that they “assumed” that the Auctioneer would be available and at their beck and call.
But the Auctioneer already had another Fundraising Auction booked for that date with another non-profit group. It was only hour away from the re-scheduled event, and things could have been easily worked out. All Group #1 had to do was start their event one hour earlier, or one hour later, than the Group #2, and the Auctioneer could have helped both groups on the same day.
But because Group #1 failed to anticipate a possible Auctioneer conflict, because they failed to confirm with the Auctioneer before re-scheduling their event, their preferred Auctioneer had to bow out and they had to scramble to locate substitute “Volunteer” Auctioneer only days before their event.
And it cost them.
Learning Points
The Live Auction is usually where the profits are made at any Fundraising Auction.
A Professional Fundraising Auctioneer can be vital to the success of any Fundraising Auction.
The better Fundraising Auctioneers usually get booked quickly.
You need to recognize the important contributions that a good Auctioneer can make to your event.
Michael Ivankovich is a Bucks County Fundraising Auctioneer based in Doylestown PA, and serves the Great Philadelphia PA area. He has been a professionally licensed and bonded Auctioneer in Pennsylvania for nearly 20 years, has been named Pennsylvania’s Auctioneer of the Year, and has considerable experience in conducting Fundraising Auctions. Michael loves helping groups raise needed funds for good causes and one of his specialties is the “Special Pledge Appeal” or “Fund-A-Cause Appeal” which usually enables clients to double their revenue in a single evening.