In my article, ‘The Job Trap’, I spoke of “Recurring Income Streams”, as a powerful tool for creating financial independence. What is clear merely having a job, as the singular income stream, will not lead to financial independence. What is also clear, the pursuit of financial independence, by creating wealth is not a hobby. Instead it is a committed fulltime endeavor that is rewarded with passive income that continues to flow, long after the work has been done. What is also clear that individuals who successfully are financially independent develop recurring income streams primarily through investments, real estate, and business ownership. For many people, lacking enough funds to begin investing, or purchasing real estate are difficult initial choices to develop recurring income. Therefore entrepreneurship, developing a business becomes a feasible initial income creating stream..Home Based Business: Passive Income StreamLiving in a highly charged technology age, has given rise to more people developing a home based business. With the power of the internet, literally developing an international business very possible. Additionally, the potential to generate thousands, and in some cases, millions of dollars in revenue is quite possible with a successful home based business. Without a doubt, you can make money online. And setting up a potential successful online business is possible with very little initial money. While the potential is great for a successful home business there are some factors that should be considered. If your entrepreneur money stream involves something online, are you looking simply to make money online? Or are you truly looking to develop a home based business? First impression it may appear that there really isn’t any difference between the two options. Opportunities to earn money online, are plentiful. They might include surveys, visiting websites, to name a few. These along with other similar opportunities result in earning money only when engaged in the money producing activity. On the other hand, creating a successful online home based business, requires work, similar to any business. Particularly in the initial stage of developing the business, putting in the work is vital to creating ongoing success. Here’s just some of the tasks: researching products, services that your business potentially will offer. Setting up your website, acquiring your own domain name, hosting for your website, etc… The great thing though is you potentially will be rewarded many times over for the work you performed. Just as there are many opportunities to make money online, there are also many opportunities that are excellent tools for creating a home based online business.Affiliate Marketing: An Online Home Based BusinessFor a newbie lacking experience in creating a business, and in particular an online home based business, affiliate marketing is an excellent choice to begin. Why? For several reasons. For starters, a product or services that is already in high demand now becomes available to your business to profit from. Additionally, when you place a link on your web site, and customers click to purchase, you won’t have to worry about shipping, collecting payments, or finding a payment processor to do that. In return for generating the sale through your site, you will receive a commission payment. Another bonus that a solid affiliate program will provide for your business, is the tools, training, and support to effectively market their product or services through your business. A real simple process, right? Wrong!!! Yes you simply find a company, join as an affiliate. But remember you’re creating a business, therefore work is required on your part. Choosing the right affiliate program for your business requires research on your part to find a company, product that you feel comfortable, with that you would use yourself, that you want to learn everything about it, and how to effectively market it. It takes work to increase your knowledge requiring having and developing a successful online business. While it is true, that many people who start a home based, especially, an online business initially in the infancy of development, generally start while yet still employed, and committed to family. Certainly the issue of committing to your business often get clouded. The truth is that in beginning, you must constantly be working on your business in some capacity if having a successful business and recurring income stream is important to you.
Sky Advertising – Most Appealing and Novel Advertising
Sky advertising, as the name indicates, means the advertising that is done in the sky. It is the latest form of advertising which claims to capture the mass audience in a single try. It is the desire of man to reach the skies since the existence of man on the earth. Anything which flies high in the sky, or displays in the sky appears to be the most fascinating thing to the human mind. Advertisers are using this psyche of human nature and thought upon devising a system that would help them in publishing their advertisement in the sky.
Sky advertising uses all the techniques of the traditional and typical advertising. It includes billboards, banners, pamphlets that are distributed by throwing from the plane, sky typing and sky writing. The procedure is same except that the difference lies in the materials and text used, and the source i.e. airplane and aircraft. It is the general phenomena that any advertisement which is aired on the television lasts for only that very moment. It is forgotten soon even after few seconds because everyday consumers are bombarded with so many advertisements that are not easy to remember. Moreover, the frequent encounter to such advertisements can cause boredom and loss of interest of the consumer. The key to successful advertising is to make advertisements that are interesting and long last in the minds of the target audience.
People were beginning to find flaws in the traditional advertising and so were the viewers. To give a new orientation to the advertisement, sky advertising was invented. Various techniques are carried with various transporting images. The airplanes, aircraft, balloons and skydiving are the means which carry the aerial banners, bill boards and messages in the air. The aerial advertising is limited to the day time only, when there is light so that the message or banners are easily readable by the people. However, sky advertising can be carried out at night. The LED and neon lights are used to make LED based message which is then present in the night. These lights make the message look more fascinating and magnificent at the night. The lights shine and sparkle in a beautiful manner in the darkness of the night which surrounded the message. It is the most appealing and striking sight witnessed by the viewers. The image and impact of the sky advertisement lasts long in the minds of the consumers.
Understanding the immense appreciation and need of sky advertisement; advertising companies are made to carry out it. In addition, aircraft and aviation companies possess highly specialized planes and balloons for this purpose. Services are provided by these companies to advertisers to publish the respective advertisement in the sky. It is also observed that the traditional means of advertising were not efficient to reach each and every consumer. Those who read news papers were the only exposed to the print advertisements. The one who watched television were in contact with the advertisement. What about those who are not in touch with the television or newspaper? There are people in the world who does not possess the facility of television and newspaper. In order to reach the maximum audience, sky advertising is considered to be the most efficient one. In reality, it is confirmed that massive number of people bears in mind the information of sky advertisements in comparison to the advertisements that are accessible through vice commercial, print commercial and video advertisements. This evidence alone is sufficient to convince any organization that airplane advertisement is the most successful technique to transmit a message across.
Real Estate Auctions – The New Land Rush
On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.
Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.
Real Estate Auctions Work in Up or Down Markets.
Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.
The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.
When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.
Evaluating Your Real Estate for Auction
Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.
Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.
Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.
Locate a Qualified Real Estate Auctioneer
Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.
Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.
You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.
Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.
Types of Real Estate Auctions
Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:
Absolute Auction
The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.
Minimum Bid Auction
Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.
Seller Confirmation or Reserve Auction
With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.