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Auction Listings Are Vital to the Success of Fundraising Auctions

Fundraising Auction Tip: You should always provide potential bidders with a printed Auction Listing of both your Live and Silent Auction items at any Fundraising Auction. A printed Auction Listing is vital for several reasons:

An Auction Listing informs bidders of the order of sale, and what is coming up next. If you keep your bidders guessing, they will simply not bid.

If bidders are not 100% certain of what they are bidding on, they will not bid. A printed Auction Listing should answer any and all questions about what is being sold in order to encourage bidders to bid as much as possible.

Bidders often need time to plan their bidding strategies, especially on multiple and/or larger value items. A printed Auction Listing helps them to do that.

Couples often need time to consult with each other about what they are willing to spend on something. A printed Auction Listing helps them to do that.

Potential bidders need to know the specifics, the benefits, and the restrictions on any item they are going to bid on, especially on travel and/or other higher value items. A printed Auction Listing should answer all of their questions, in writing.

After bidders see that they have lost an item to another bidder, a printed Auction Listing makes it easier for them to re-strategize on what else they can bid on.
Printed Auction Listings generally come in 3 forms:

Printed in the Event Program or Auction Catalog.

Printed on loose sheets of paper and hand-inserted into the Event Program or Auction Catalog.

Printed on loose sheets of paper and hand-delivered to all attendees, or left on each dinner table in the room.
Auction Listings cost practically nothing to produce and they can make the difference between the success and failure of a Live and Silent Auction. You should never conduct a Fundraising Auction without one.

A Case Study

Let me share a real-life experience with you. Once I was hired to conduct a Fundraising Auction for a nationally renowned organization. The event was held in a major hotel, in one of the country’s largest cities, with several hundred “black tie” participants attending. It was an extremely professional event, with the music, singing, lighting, speeches, and awards all perfectly timed and choreographed. Everything was done to perfection… exception the Fundraising Auction.

Although I had signed an agreement to serve as their Auctioneer nearly one year in advance of the event, no one bothered to contact me for any advice or help. Approximately one week prior to the Auction date, I contacted the group to see if they had replaced me with another Auctioneer. But they said that I was still their man.

Upon arriving at the event I asked for a copy of the Auction Listing. I was told that there were none. I’m not sure whether they felt that the Auction Listing wasn’t necessary, or whether someone forgot to have them printed. This was never made clear. When I asked what I was to use at the podium, I was told to copy the list of Live Auction items from a committee member’s computer. It took me about 30 minutes to copy three pages of hand-written notes in order to prepare for my role as their Auctioneer.

I knew that they had created a PowerPoint program showing the various Live Auction items. When I asked whether the PowerPoint slide order corresponded to the order of sale I had copied from the committee member’s computer, I was met with a blank stare. The committee member left to check the slide order, and returned to let me know that the slide order did not correspond my notes, and he provided me with the correct slide order… hand-written on a paper napkin. This forced me to re-arrange my three pages of hand-written notes before taking the podium.

There was a Live Auction Table with descriptions of the Live Auction items that were to be sold, but the table was not clearly marked, and it received significantly less attention than the Silent Auction Tables, which were clearly identified. Since the Live Auction Table was located adjacent to the “Raffle Table”, it appeared that most people thought it was part of the raffle and therefore paid very little attention to it.

According to the event program (which did not include an Auction Listing), I knew approximately when I was to begin the Live Auction. At the designated time the Master of Ceremonies announced the start of the Live Auction to the several hundred people in attendance, and introduced me as Auctioneer. As I approached the podium I realized that photographs of award winners were still being taken… directly in front of the podium where I was to stand… which required me to stand aside for several minutes until the photographers were done. Can we say “awkward moment”?

As the photographers cleared, I approached the podium and began my Live Auction introduction. Approximately one minute into my introduction, the “Raffle Committee” approached the podium and stopped my Live Auction Introduction in order to pull the 8 or 9 Raffle Winners. These drawings lasted about 5 minutes. Upon it’s conclusion I was allowed to resume the start of the Live Auction.

When standing at the podium two intense and extremely bright spotlights were pointed directly at the podium. The lights were so bright that I literally could not see the center 1/3 of the room. I could see the tables on the right, and on the left, but was totally blinded when looking straight ahead. It took perhaps five minutes before the spotlights were turned off.

While at the podium and describing Lot #1, I had to ask someone to start the Lot #1 PowerPoint Slide… because apparently no one was assigned that job.

So with only the Auctioneer’s verbal description, and a PowerPoint slide, it appeared that few people in the room had any idea about what we were selling… or when we were selling it… until it was announced by the Auctioneer. As a result, bidding was extremely light and the final results fell several thousands of dollars short of where they should have been
The learning experience is this:

The Live Auction is where you place your better items, and where the real money should be made at any Fundraising Auction. Let bidders know as far in advance as possible what you will be selling, and the order of sale, so they can get excited about the Auction, and plan their bidding strategy accordingly.

Auction Listings are absolutely vital to the success of both Live & Silent Auctions. In my opinion, revenues at this Auction fell thousands of dollars short of where they should have been, because no Auction Listing was provided to the guests.

If bidders are not perfectly clear on what is being sold, including both the item’s specifics, benefits, and restrictions, they will not bid.

When you have a committee of volunteers, especially volunteers having full time jobs and/or very busy schedules, the services of a professional Fundraising Auctioneer can help to keep the committee on track.

And once you retain the services of a professional Fundraising Auctioneer… use the services that you are paying for.

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Did the Bank Bailout Help Small Businesses?

Just as owning a home was assumed to be a positive financial strategy for individuals, small companies owning commercial real estate was typically seen as a routine and constructive piece of their commercial financing during the period leading up to the most recent financial crisis. Both of these assumptions start to fall apart very quickly when it is difficult or impossible to obtain the underlying real estate loans from banks. Real estate continues to be a major component of the overall economy, and ongoing difficulties involving either obtaining or refinancing commercial mortgage loans presents severe problems for both societal economics in general and small business economics in particular.Did the Bank Bailout Help Small Businesses?One of the primary arguments made in favor of bailing out banks in 2008 was that it would permit the restoration of “normal financing” to businesses of all sizes everywhere. Seven years later most small businesses are still waiting for bailout funding to “trickle down” to them. Working capital loans and commercial mortgages are missing in action for many commercial borrowers.Real estate has regularly been in economic news for both good reasons and bad reasons during the past several decades. Starting around 2005, concerns began appearing about the financial health of both real estate and the overall economy. What we did not know at the time was that banks began making speculative investments in financial derivatives tied to real property at about the same time. Some of these investment practices produced massive losses that precipitated the public banking crisis emerging in 2007 and resulting in a widespread bank bailout program in 2008. Even the few instances in which these derivatives produced profits for the banks proved to be controversial because the profitable investing was frequently at the expense of banking customers.Zombie Banks and Troubled BanksHere are two of the real estate and banking problems that are still very actively impairing the small business economy:

Zombie Banks are still operating – a Zombie Bank is one with a negative net worth (liabilities exceeding assets).

The FDIC (Federal Deposit Insurance Corporation) Troubled Banks List still has more than 200 banking institutions on the list.
It is worth noting that the FDIC does not publicize the problem bank list or name specific banks on the list – probably fearing a “run on the banks” if they did so. The recent “bank holiday” in Greece illustrates how quickly bank depositors can lose confidence in banking institutions. But the FDIC does release the number of banks on their troubled bank list on a quarterly basis. For example, the March 2015 total of problem banks as defined by the FDIC was 253. In comparison, the total was more than 850 banks at the peak of the recent financial crisis – but there were less than 50 troubled banks before the 2008 bank bailouts.What to Do When Banks Say NoSmall business owners must draw their own conclusions about the current financial health of banks, but it seems unlikely that a “Troubled Bank” will be able to make a “normal” level of small business loans. If banks are still saying “No” to routine commercial financing for creditworthy small businesses, what is the recommended response? Small business owners should actively review alternatives that include non-bank financing, reducing business debt and increasing sales with cost-effective solutions such as business proposal writing. At some point the practical need to fire their bank and banker will by necessity become one of the realistic actions by a commercial borrower in need of business financing but unable to obtain it from their current banking institution. In such a scenario, “You’re fired” can quickly become another example of life imitating art.

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Do You Have an Internet Home Based Business Idea?

Now that you have had that internet home based business idea and have decided to start a business from home, selecting the right business opportunities is as easy as 1-2-3, well maybe 1-2-3-4!

1. Decide to Market a “Consumable” product

When trying to decide which internet home based business idea you should develop, just think about this for a minute – every time anyone gets out of bed each day and goes to work, someone makes money. Every time you pick up the telephone, someone makes money. Every time you eat, turn on the water, start your car, use a bar of soap, or get a haircut, or go on a vacation, someone makes money. Imagine transactions of hundreds or even thousands of dollars and also millions of $3 or $4 sales several times a month, year after year, after year.

The ideal internet home based business idea which develops into a turnkey home business is one that markets consumable products or services in such a way that after your initial effort is done; repeat orders, sales and commissions come to you for that effort on a continuing basis.

2. Be ahead of the major Market Trends

A “Market Trend” is really an economic movement, meaning that large masses of people’s spending habits are moving in a uniform direction. The effect the baby-boomers have had and will have for years to come on the American economy is a good example.

One leading economist likened the effect the baby-boomers have had on the economy since birth to a basketball running through a garden hose! That fact along can be a major factor in generating profitable home based businesses and should certainly be considered when developing our internet home based business idea.

When developing our internet home based business idea, the question we must ask ourselves is: Are we positioned in front of the basketball or behind it?

History shows that those who identify these trends early, and are able to meet the needs of these trends, are able to create abundant wealth for themselves. In essence, they get in front of an economic wave and ride it to financial freedom!

The key is timing. Get in front of the wave and take the ride of a lifetime.

Current research shows, that what most people want out of life is feeding the current market trends and should be considered in your internet home based business idea:

1. Owning Their Own Business

2. Having Tax Advantages

3. Being Financially Independent

4. Being Healthy

5. Being more environmentally conscious

6. Having A Rewarding Career

7. Owning Their Own Healthy Home

8. Looking & Feeling Younger

9. Losing Weight

10. Traveling

11. Improving Their Lifestyle

12. Personal Development Training and Support

Mega-Trends

These are the wants and needs of some very large consumer groups. In fact, some very large trends are gathering momentum as you read this. They are so large that they can accurately be called “Mega-Trends”.

One of the mega trends is in the area of Health and Wellness- An Internet Home Based Business Idea Because of the economic influence of the Baby-Boomers, economists are predicting that this industry will be the next Trillion dollar industry within the next ten years. Paul Zane Pilzer, an internationally known author, college professor and economic advisor to two presidents, predicts that there will be 10 million new millionaires in the Health and Wellness internet home based Network Marketing industry within the next 10 years. Now that could be a basis for an internet home based business idea!

I guess the question we need to ask ourselves is: Will we be one of them?

Another of those trends is in Travel – an Internet Home Based Business Idea and recreation. Some estimate this industry to be 7 trillion worldwide with expectations to double within the next 6 or 7 years which is over 20% faster than the US economy. Other experts estimate that travel in the US along exceeds 1.3 trillion.

I have read that there are more cruise ships to be built within the next 5 years than in the previous 45 years total. Baby-boomers are swarming to the luxury resorts around the world and this activity is expected to increase as the boomers experience the inheritance of their parent’s money and also begin to draw on their own retirement plans.

With the baby boomers currently retiring at the rate of about 1 per second and increasing, increase in travel could very well be the largest mega-trend we will experience in our lifetime!

The combination of these Mega-Trends is causing one of the most explosive economic waves in history. Now there is another potential internet home based business idea! All Wealth is first created in the Mind and then transformed into reality by the application of known Principles! – Think and Grow Rich! – Napoleon Hill

3. Leverage your time

Leverage, through the process of duplication and multiplication, allows us as entrepreneurs to develop a successful internet home based business idea, part-time, around our busy lifestyle. In essence, leveraging our time allows us to get more done in a shorter period of time with less effort. This concept applied in your home based business means you can accomplish more than you could normally accomplish on your own.

When effectively incorporated into an internet home based business idea, computer and internet technology can multiply leverage thousands of times. That means in the right system, networking and internet technology can do the work of thousands of people, and you get paid on that work! Imagine developing a business part-time, which can grow to a full time career, that wouldn’t interrupt your present circumstances, and provides you a flow of income while you spend time with your family, travel, go to the beach, or even sleep! That’s the power of leverage.

4. Market Selection

Before choosing the right internet home based business idea, one must first identify the fastest growing industries as well as the most profitable home based businesses. Some of the fastest growing industries today are:

Greeting Card Industry – 7 billion greeting cards are purchased every year. Annual retail sales of greeting cards are estimated at more than $7.5 billion. Nine out of every ten households purchase greeting cards each year.

Working From Home – $401 Billion Dollar Industry.

Internet Marketing – exceeds $523 Billion according to a study done by the McCombs School of Business and is expected to reach 7 Trillion within the next 3 years.

Mail Order Marketing – $350 Billion Dollar Industry and growing.

Wellness Industry – $200 Billion Dollar Industry and expected to reach $1 Trillion within 10 years.

Nutrition Industry – $4.2 Billion Dollar Industry and exploding.

Weight Control Industry – $33 Billion Dollar Industry fueled by epidemic size obesity levels. An estimated 70% of the U.S. population needs to lose 10 – 50 pounds.

Personal Care Industry – $72 Billion Dollar Industry.

Cosmetics Industry – 8 Billion Dollar Industry – and steadily growing.

Travel and Vacation – $860 Billion and growing.

When developing an internet home based business idea into profitable home based businesses, it is not necessary to pick an industry which we already have an affinity for, although it certainly is desirable. However, as you will see in upcoming pages, if you have the Desire to build a business and new lifestyle, there is a fit for you out there. Again, the challenge is to select the right business and company when you start a business from home.

Not only should the market and marketing concept fit you, but in order for a business to be real it must have the right: Product, Market, Timing, Management, Company, Compensation, and Benefits and Rewards.

We should not look for get-rich schemes! If you are serious about your goals of personal development and building a long-term residual income and work diligently towards goals you will succeed.

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