Many small businesses are experts in their field and know their own business inside and out. However lots of small business owners lack the time or expertise required to implement certain projects. That’s where a small business consultant can step in and help.In order to achieve a successful project it’s important to be clear about what you want your consultant to be able to do for you. Just as important is selecting a consultant with the right skills for the job, but how do you make sure you don’t get off on the wrong foot?Here are some things to consider:1. Are you looking for a research/diagnostic approach or do you need help with implementation?Firstly are you looking for someone to take a diagnostic approach to a business problem you are facing? For instance, which market segment should you enter? Or what product line should you sell? Or is your business need about implementation? For instance, you’ve identified that you need to be on Social Media and need a marketing consultant with the expertise to make this happen.The two needs are different and some consultants are better in one area than the other. To find out whether your prospective consultant prefers to work on implementation projects or research projects ask them. Don’t be afraid to ask them for specific examples of projects they have worked on and how they have tackled projects similar to yours in the past.2. Ask prospective consultants how their clients are better off after they leave.What sort of outcomes were they able to achieve for their clients? Look out for wishy-washy answers. Look for specific examples and outcomes. Does this fit with the sorts of outcomes that you would like for your business? Where they able to increase website traffic by a certain percentage, reduce staff turnover by a certain amount or generate more business for the client?Picking the wrong person for the job might end up feeling like you are pushing water up a hill with a rake. Not only will the results be less than optimal but it may end up being a costly and stressful experience also.3. Be careful of wanting champagne on a beer budget.Do you want fast, cheap or talented? You must pick two out of the three. There is a triangle trade off here. You can get premium talent, faster results or a cheaper cost but Taylor Swift won’t teach your team how to sing tomorrow for free if you see what I mean.Often a small business owner will set a budget and then begin the search for the best talent and/or fastest result within that budget. From my experience a budget-driven approach can often compromise results. Your best approach is to establish your desired outcome, then judge each potential candidate by how likely they are to be able to achieve that outcome.4. Look for a solid “About Us” page.Ask consultants about their qualifications and their approach. With so many so-called ‘experts’ out there it’s really important to identify who is qualified and able to do the job for you. Ask prospective consultants questions about their skills and experience to determine whether they are fit for the job. Are they methodical in their approach? Do have a history of achieving quality results for clients? This will help you to avoid being mislead by organisations with few processes, a glossy website and no real qualifications or experience.5. Ask yourself whether you think you will be comfortable working with the consultant.Do you think they are going to be the right fit for your business? Can you see yourself and your team working well with them? Sometimes it’s less about the exact industry experience they have had and more about their ability to get results.6. Think about goals and outcomes first.Don’t pick a technical specialist to do a job when you really need someone who can deliver a sales outcome. Think about your goal first, what are you trying to achieve? For instance, if it’s conversions and leads from your website then perhaps what you really need is a marketing consultant to advise on the layout of the website rather than just a technical person to do the build. A technical person can definitely build the website for you, it will function beautifully, but will it achieve your goal of converting traffic to sales?7. Be wary of small business consultants who are all things to all people.A good consultant will be honest about what their speciality is and will not simply be a ‘yes’ man or woman. They will push back on projects, ideas and suggestions that they don’t think are right for your business or are beyond their area of expertise. Look for a consultant with backbone not someone who lets you steer the project without alerting you to the danger that lies ahead because they are too afraid to question your judgement or afraid they will upset you. I’d rather have an expert question me and make suggestions than sit back and watch me sink the ship!So whether it is a marketing consultant or a small business consultant you are looking for, many of the same rules apply. Identify what you need and look at it from an outcomes perspective, work out who has the expertise to help you achieve your goals and whether or not you are comfortable working with them. Look for someone who is genuinely interested in working with you and passionate about what they do.
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.
Where To Find The Best Free Advertising Online
The other day I decided to clean out my garage, and was amazed at the amount of unwanted items I’d collected over the last couple of years. There was a couple of cell phones, ski boots, my old laptop, pieces of furniture and even the old salt water system from the pool. All were in excellent working order and far too good to throw away. Thinking that they would certainly be useful to someone somewhere, I decided to advertise them on the Internet. But where would I find the best free advertising online?
I decided to research the main websites.. like Craigslist, US Free Ads, and eBay before deciding which would be the best place to sell my unwanted items. Key criteria was going to be ease and speed at which the items were sold, and of course how much I would get from the total sales. A quick visit to each of the sites had me realizing there was no simple answer when it comes to selling your unwanted items. Finding the website offering the best free advertising online was to be no walk in the park.
I started by categorizing every aspect of the selling process, making a note of the strengths and weaknesses of each of the online advertising services I was to research. Here’s a few notes on my findings.
Craigslist – Free Advertising Online
The Craigslist web site works in much the same way as an old fashioned classified ads portal, with the main difference being that you are able to add images with your text, and buyers are able to browse advertisements in their own geographical area (city and state) by category or simply by the date, making contact with the seller either online or by phone number, assuming one is provided. Sellers choose a metropolitan area, and category, create an ad (with or without photos) adding their phone number if they wish. The seller’s email address is hidden from would be buyers. Contact with the seller is made through internal email. The seller thereby controls how they wish to be contacted by prospective buyers. The great thing about Craigslist is it’s free, with no charges for seller or buyer. Shipping costs are rarely an issue as the web site works locally giving potential buyers the opportunity to visit, inspect and collect merchandise.
A couple of disadvantages with Craigslist are firstly your advertisement is limited to one particular metropolitan area, and secondly, because of the open nature of the bulletin board, it has become a haven for spammers and scammers, so you need to be on your toes and never release any goods until you’ve been paid in cash.
US Free Ads – Free And Paid Online Advertising Services
US Free Ads has been offering free advertising online since 1999, and the web site offers both free and paid online advertising services to it’s 800,000 members.
Basic membership is free, but is limited to private non-commercial use. Once you’ve registered, you are entitled to free advertising online, and can choose to either go nationwide or stay in your own metropolitan area. You can place a new advert at any time and you are able to advertise most products, items and services, as you would expect to find in a regular newspaper classified section. As a seller you can place your advertisement with images, and. prospective buyers can contact you through internal email so although you might receive the odd spam mail, security is pretty good.
eBay Classifieds – Local Free Advertising Online
Most people automatically think of eBay as being a paid auctions web site, but eBay Classifieds was launched in the U.S. in June 2007, originally as Kijiji.com, and specializes in free advertising online with the emphasis on local ads. You will need to register to post a free ad, but once you log in you’ll find loads of categories to choose from and 272 local community areas across the US.
The only drawback I found with eBay Classifieds is that it is local only, so you are only able to place your ads in your own area. Security is good though and because eBay Classifieds is part of the eBay Group, you can expect your ads will have a great deal of exposure.
So, having had a closer look at these three quality, online advertising services, I found it difficult to make a choice between them. Then it dawned on me.. since there was no fees involved and they all offered free advertising online, I decided to advertise my ‘stuff’ on all three portals. It turned out to be a fun exercise and needless to say I sold everything within a week. I did notice that the bigger items sold through Craigslist, and the more expensive items sold through the contacts I made at US Free Ads, with the remainder of my sales took longer, but sold through eBay Classifieds.
At the end of the day, I guess I was unable to discover which was the best free online advertising portal. My advise to anyone interested in clearing out the garage, looking for a new job, buying a used car, selling your old bike, lining up a babysitter, or simply warming to your kids’ plea for a puppy, is to keep your options open. Use all three of these fine online advertising services to full advantage, and I’m sure, like me, you’ll be delighted with the results.