Micro-Management: The Case of Education

There are three bases to an institutional effort; educational, commercial and welfare. An educational institution is formal arrangements of educators, children, and parents to create an effective learning environment for children. The educational environment aims to target all aspects of learning; knowledge dissemination, morale improvement, character building, and like. In this paper, we will discuss, briefly, the meaning, source and effects of micro-management on educational institutes. It is our hope that readers will be focused more towards quality way of teaching after perusing this humble effort.

Micro-management in teaching is managing or controlling learners with excessive attention to minor details and providing rapid criticism on mistakes, over and over. Micro-management kills intrinsic motivation of learners; consequently, self-motivated, self-regulated, and self-directed learners are a missing phenomenon of micro-driven setup, unfortunately. Micro-management disregards the significance of cooperation dimension during learning; as a result, the teamwork aspect is dilapidated, eventually. Micro-management fails to respect the self-esteem of every learner of the institute; subsequently, frustration becomes commonplace among students. Last but not the least, micro-management fails to recognize latent talents of learners and focuses on goals only, disregarding means; and so, it fails to address learners’ passion and discipline, properly.

Curiosity and creativity are essential elements of any excellence in human life. The two elements find their groundwork at the individual’s dominant area of thinking or intelligence, for example, some minds excel in logical reasoning, some in emotional/artistic depiction, etc. Generally, every individual is curious and creative by nature. Education is the name of providing knowledge, imparting wisdom and preparing students for practical life. Curiosity is inquisitiveness for knowledge and understanding while creativity is the birthplace of wisdom and innovation. Educational institutions play the role of motivating curiosity and encouraging creativity in students considering their respective intelligence. Presence of micro-management in the system overlooks curiosity of learners, gradually, and suppresses their creativity, ultimately.

The miscarriage in the outcome of expectations of a system can provoke micro-management in the administration or teachers. Failing to discover where the problem truly lies, the supervising bodies begin to reproach students for poor performance and, as a result, find refuge in rigid approach to teaching, such as micro-management. As far as the letdown is concerned, the issue might be in the scheme and structure, and not inside learners. Sometimes, teachers express micro-management, unknowingly, simply due to ignorance of quality education. Either way, it is noteworthy, micro-management can direct, slowly but surely, the system towards corrupt-management – the worst type of management. It is destructive for all; affiliated public, learners and economy.

It is a prerequisite for developing a fruitful environment in class that educators are aware of the true meaning of education and proper way of teaching. Assimilating the path of micro-management leads to alternative or conventional teaching methods. These methods or techniques are not productive, even unfavorable, in the long-run. For instance, knowledge of books is given excessive attention such that concomitant objectives of learning, such as capacity building, physical education, intelligence, and insight are overlooked or postponed. Consequently, students, who are adaptive of their elders’ way of discernment, can disregard the importance of such objectives and activities. Sometimes, rote learning is massively imparted to gain quick results. The incentive to teach in order to gain appreciation from management/parents on account of outstanding class result doesn’t entirely serve the purpose of education. A true teacher understands this and prepares the learners not only for the annual evaluation to come, but also for their practical life.

The disciplinary counselling of students may require, sometimes, timely and comprehensive consulting by teachers/parents, but other missions of an educational institute demand, without exception, absence of micro-management altogether and implementation of quality education. Quality education or teaching aims for the inner gusto of learners, so more and more self-motivated students emanate, undoubtedly. Quality teaching recognizes the importance of cooperation and pays special attention to synergistic learning, now and again. Quality teaching never fails to respect each and every knowledge-seeker and addresses their issues in a timely manner. Lastly, quality teaching approves of the cause-effect duality and focuses on both – goals and means – for proper coaching of learners’ discipline and ambitions. It is noteworthy, the self-regulated, self-directed learners, later on, are likely to become leaders/entrepreneurs of the next generation. Therefore, the success of educational institutes, which is possible by quality way of teaching, is precursor of emergence of innovation and good leadership in any society.

Is It Possible to Make Money From a Home Based Business?

The home based business market is more and more appearing to be a genuine method to earn some extra cash, or maybe some significant income. Increasing numbers of people right now are beginning to awaken to reality that you could own your own company, run it at home, and also have low starting costs. This information on it’s own is sufficient to get anybody’s entrepreneurial soul fired up.

For a lot of people the personal computer has turned into a practical 2nd income source. For other people, their business achievement on the internet has motivated them to leave their former work and do nothing but on-line work. If you’re influenced to follow this path, you have to consider the possibility of difficulties as well as benefits.

You can begin a home based business part-time or full-time. You’ll be able to decide when to work, as well as work at home. You don’t require a lot of money. There are few other businesses that you can start cheaper! But it will require some time and effort. Treat your business seriously, even though you may not have a great deal of money invested in it.

On your search for the perfect home based business, do not fall for any scams that seek to part you from your money. There are many rip-off artists around just ready for one more mug to come along. Don’t forget, when it seems too good to be true, it almost certainly is. Just use your good judgment, and invest sensibly in established ways of generating extra money.

Using these careful methods to find a home based business, and retaining your job throughout the start-up phase, is generally an excellent choice. By looking after your regular job, it’ll sustain the health of your own financial situation, yet still permitting your small business to develop properly.

The online world is an extremely dynamic market place, so that as a true online entrepreneur, you have to carefully watch industry trends to succeed in your internet business. Should your internet job be relying on the prosperity of a more substantial organization, you must also check up on that companies stability prior to committing yourself. There’s nothing more painful than excitedly signing up with an organization that is getting ready to collapse. Selecting your business opportunity with extreme care will help give you the best results from your investment of funds and time.

There are lots of cost-free home based businesses that you can do on the internet, and these have numerous advantages for the people involved. Some of the options open to you include; writing online, survey completion, affiliate marketing, internet marketing, and others.

As you can see it is possible to make money from a home based business. Remember to always approach any opportunity with caution.you can get started with the best proven method to make money online, all the best.

For a lot of people the personal computer has turned into a practical 2nd income source. For other people, their business achievement on the internet has motivated them to leave their former work and do nothing but on-line work. If you’re influenced to follow this path, you have to consider the possibility of difficulties as well as benefits.

4 Ways to Know If a Home Based Business is Right For You

Most of us dream of working from home because of its truly gratifying advantages – the flexibility of schedule and control of personal working environment. But taking the leap and engaging full time in a home-based business is a crucial decision to make. Here are some of the things you should ponder upon to see if a home-based business will suit you.1. Do you have the resources to start a business at home? Do you have the capital to start the business? Will you be handling the business yourself or partner with a relative or colleague? Will you be involving you family members in handling the business?2. Can your business compete with other home-based businesses? Identify if the demand for your product or service is sufficient enough to keep the business. Securing stability of your business guarantees you a steady income.3. If not starting your own business but still working at home, is your income satisfactory enough to equal the employee fringe benefits plus the basic pay received from traditional work? Several online jobs are now available but employers of such work do not give fringe benefits. If you will be working for such employer, make sure that the income you receive is fair enough for you not to receive extra benefits.4. How will you manage your time? Creating balance between family, personal, and work life may be really challenging. Do you have the discipline to focus on work and resist temptations of being in you own home? If you keep on sneaking a peak on the TV, hitting the fridge, or taking a nap than focusing on your to-do list, then working from home may not be for you.Working home-based has its rewarding and exciting benefits but it also carries great risks. Careful planning, discipline, and determination are necessary for success. If you can live where you work and work where you live, then a home-based business may fit you.

Home-Based Business – Why You Still Need to Be Professional at Home

Are you thinking that having a home-based business will give you the freedom of time and money? It might. You can work when you want, you can work if you want, you can even work in your pyjamas if you like!There are many advantages to having a home-based internet business. Be aware though, there are downfalls too. One key potential downfall in having a home-based internet business is that, since you are at home, you become lax and forget to treat your business as the business that it is.Your attitude can become casual instead of the business attitude it needs to be. You still need to have that professional edge that you have when you go out of your house to a different building to work.Dressing in business attire and standing when you are answering the phone are only two “tricks” that you can do to keep your business attitude at home. Yes, working in your pyjamas is fine, but you need to have a ‘business attire attitude’. If your attitude becomes lax, so will your performance.You need to spend the time on your business daily. It is not a hobby – it is your bread and butter. You need to be as responsive to your customers as you would in your business attire – not like you would with your friends.Having a home-based internet business has a lot of advantages. If you can keep it professional with a ‘business attire attitude’ you will indeed convey your professionalism to your clients and business associates and you will indeed have a successful internet business.

Home Based Business – 5 Steps to a Successful Home Based Business

Are you creating or do you have a home based business? This article will give you five steps to creating or maintaining a successful home based business.1. Being professional in your home based business is a necessity. Separate bank accounts & phone lines are helpful for maintaining the view that your personal life and your business simply desire separation if you truly desire to thrive. Sometimes a workroom or scheduled hours are helpful. The beauty of a home based business is that you have the freedom and flexibility to create your own schedule, however if you want your business to be successful you must treat it like a structured goal.2. Letting your own business hours can become tricky. It is easy to get distracted or think that since you are the boss it’s OK to run errands or use any other excuse to dip out of your work but the truth is you are only hurting yourself in the long run. Create a schedule, stick to it, and succeed.3. Self-discipline is quite a large factor for maintaining a successful work from home business. Beginning the venture of a home based business is hard work and not to be taken lightly. It is important to be diligent and consistent when working in your home business. It may take time but you must be merciless. Over time you will progress to a point where you can lighten up on yourself and really appreciate the advantages of a home business.4. As in any other business, marketing is essential. You have to find ways to get your name out on to the Internet so people can find you. Methods of online advertisement that are helpful are Internet banner ads, print media, and Internet forums etc. Pay per click advertising is another great form of advertising as you get paid for it and it helps promote your business.5. Winning the trust of your customers is necessary. The best way to do this is to maintain your integrity. Your integrity will make your customers want to be repeat customers as well as create word of mouth, which is another wonderful marketing tool.Preparing and maintaining a successful home based business is full of many complexities. Once all the wheels are set in motion the fruits of your labor will pay off. These five steps will assist you in your venture of a home based business and building something you can be proud of. A solid home based business.

A Retirement Reality – How To Start A Home Based Business

Today, more and more retirees are opting to start their own work from home business. Of course, opening a home based business can help deliver foodstuff on the table but aside from that, it can also make the retirees time more productive and gainful. It is basically an urge for self expression and an effort to involve oneself with something rewarding. For others, it can also be a way to recommence past dreams and aspirations.Not like an average worker, retirees have time to spare. As soon as a person decides to abandon the workforce, he has ample of time to begin his identifiable home based business. Then again, in opening any business, conscientious forethought is important in order to be successful. Before starting a home based business, here are some of the factors retirees need to ponder:Do what you know and loveMost retirees spend decades of working in various industries encompassing sales, marketing, IT, culture, arts, and others. It is best to use such experience and abilities to come up with a business idea in which one will be passionate to handle and manage. Visualize your other interests and not to mention your talents such as designing, baling and cooking. You may possibly use them in your starting business. Remember that it is important that you love what you are doing to gain the ideal outcome.Examine your fundsBeing an entrepreneur involves risk, markedly when it comes to money matters. Capital is basic in any business. First you need to have a good understanding on how much you are willing to plow. Pay a quick visit to your bank or audit your online savings. This way, you will not go over your financial statement and you know your financial capabilities as well. In order to daunted monetary problems, you need to work hard and be wise in spending. Self-discipline is very important in business.Enter into the right businessToday there are so many businesses that you can possibly venture on. You can either start your own business by direct selling or you can begin a website and promote your goods online. Before starting your work from home business, consider the following factors: Merchandise and services, branding, target market, budget and business fulfillment. You cannot start the right business without conscientious forethought. Read and research on the latest and most popular business at present.Come up with a concrete business conceptWhen it comes to business, everyone can do it – young or old. Comparable to the young business owners, you will go through the basic motions of a conventional start up. Therefore, you will need a solid business blueprint, just like anyone else. This plan will serve as a map that will help you to identify defining markers that you may encounter along the way. Before you open your business to your clients, you should think and plan out carefully what you want your business to be. Consider the things that can make your product or service different or special. Make your merchandise and services be heard by creating an online and offline presence. More or less, your business plan will cover your ways on how you plan to attract consumers, how you plan to beat competition, and others.ConclusionA home based business must be more than a way to help retirees spend their time worthwhile. It can also occupy their idle time as they have more time for themselves unlike when they are working in the corporate world. If you are very keen about turning a pastime into a business opportunity, start a business which will focus on earnings rather than your own pleasure. Having your own business after retirement will help in stimulating your mind and overcoming your boredom. It also brings in extra income to your retirement fund.

Small Business Health in 2013 – How Good Is It?

The last few years have had a brutal impact on small business health in the US as a result of the economic collapse of 2007-2008. The question for business owners now is whether 2013 will be any better.According to the 2012 U.S. Chamber of Commerce Q4 Small Business Outlook Survey, over 80% of the businesses surveyed say the US economy is on the wrong track. Add to that 2/3 of them think the economy has worsened over the last 2 years and over 50% think the economy will worsen in the next 2 years. This is a pretty grim outlook.One of the other stats that is very telling is the one that shows only 17% plan to hire employees in 2013. If small businesses that account for the greatest number of jobs in the US aren’t hiring, how is unemployment supposed to come down and how are those companies supposed to grow?This and more are from a Jan 22nd article on Forbes.com that has some suggestions as well as to deal with some of these issues. The whole article is here: http://www.forbes.com/sites/groupthink/2013/01/22/82-of-small-business-executives-think-theu-s-economy-is-on-the-wrong-track/A major factor in small business health is the ability to be flexible enough to take advantage of new opportunities. If a new customer comes in the door that requires the business to ramp up production or personnel, being able to meet that new demand is critical. But at present, banks aren’t lending much and employers are wary of hiring new people.This is when the business owner has to look at alternative ways to expand their business even when traditional forms of funding may be limited or not available at all. Sometimes it only takes a small line of credit for a few months to get over the hump. Or it could be creative use of assets like accounts receivables.Alternative funders differ from banks because they are often using private funds and are more flexible in their lending, and may be willing to take higher risks. They may take on a highly leverage company that got that way through circumstances of the last few years, but have a sound business model and are growing back to health. Banks won’t touch these guys – but an alternative commercial finance business may.Small business health is part of the whole economy’s heath. None of us can afford for small businesses to fail – they are the engine of the economy in more ways than one. They are the backbone of our country and we need them to be healthy and growing. We all depend on them to a greater degree than we suppose.

7 Deadly Mistakes to Avoid When Starting Your Own Home Based Business

Having a home based business can be a great experience. You set your own hours, have more time for family and can go to work in your pajamas. Certainly you have heard all the upbeat, feel good positives on having your own home business. However, there are some pitfalls that can cause your business to go belly up before you even get a good hold on your industry. Many of these mistakes can be avoided with a little forethought and some planning. If you know what you may be up against ahead of time, you can combat it. Knowing and preparing yourself is half the battle. Avoiding these mistakes will save you headache and heartache.

1. Starting a home based business that is not appropriate for your home.

Whether it is a lack of work space, storage, inventory or your employees’ work space, you may need to look outside of your home for facilities. As a rule, online businesses and service businesses are typically easier to run from home than manufacturing businesses. Be realistic; don’t let your judgment be clouded by potential tax breaks or low overheads.

2. Lack of focus or motivation.

It is easy to get distracted when you work from home. You may not feel motivated to get up and work, may get distracted by the phone or the kids. You need to set aside time that is specifically designated for your business – and stick to it. Running a home based business is a great way to cultivate self-discipline. You really need to have that self-discipline to make sure you get your work done on time instead of watching TV or doing housework. Dedicate a specific time period only for doing your home business and do not let anything else get in the way of it (unless of course it’s an emergency).

3. You don’t have any growing room.

If your home based business takes off, you will probably get to a point where you need to expand. Expansion of your business may be as simple as adding a computer or new printer or as complex as bringing in more employees. While you are setting up your home business, prepare for eventual growth as well. Be prepared for the possibility of getting an office space if you need to even though you started out as a home business.

4. You don’t spend wisely and don’t budget well.

You may be saving on overheads such as rental when you work from home, but are you spending unnecessarily on equipment or maybe even some little luxuries for yourself? This can lead to over spending and you exceeding your budget. Set your budget and stick to it.

5. You fail to promote your business.

While you are sitting in your home office, wearing your slippers and sipping your coffee, you may get just a tad too comfortable and forget one crucial element for your business success – marketing and promotion. You have to get the word out and promote your home based business if you want it to get sales or orders. In fact, this is the most important part of your business. Unless you already have customers buying from you, or you are spreading through word of mouth, you need to market your business.

6. You don’t have facilities that are efficient or adequate.

When you work from home, it may be tempting to use the family computer or network your computer with the family computer. In a word – don’t. When the kids are playing games and downloading photos, they are using up bandwidth that you need to operate your business. Cut the strings and make your business computer separate from your home computer. All these limitations will make it harder for you to operate your home business.

7. You don’t have a business plan.

Just because you’re starting a home based business, you think that you don’t need a business plan? Having your home based business plan is integral for organization, goal setting and growth projections. If you don’t plan, you could face failure in a very short time. Planning your home business will help you to understand what investments you need to put in and the different aspects of your business. If you get out of course, referring to your business plan can help steer you back to course.

Having your own business can be exhilarating and liberating. Click the link below for a home based business opportunity that comes with the support and instructions necessary for you to market and operate your own home based web business.

What Is the Easiest Accounting Software to Use for Small Businesses?

Introduction

What is accounting software?

To track the financial process, the business owners or individuals use the accounting software to record and report income and expenses.

This is more effective and never drives grave mistakes with automation, especially for small businesses.

Why do small businesses prefer accounting software?

The majority of small business owners may not be much aware of accounting or finance management. So they prefer this software to manage their financial data.

The software helps to reconcile data, generate receipts, and integrate with the financial data.

So they don’t have to bother about the business account to balance.

Moreover, it saves time and money and improves productivity and performance through the transparency of financial data.

How do you choose better Accounting Software for Small businesses?

Searching for the right accounting software for your business is a daunting task.

Software designed for one business could not be suitable for another.

It depends on the enterprise’s size, the income flow, level of experience of the accountants, and the company budget.

If you are willing to choose any accounting software, it is always advisable to thoroughly examine some of the features before selecting one.

Here are some of the best accounting software, distinguishing itself with outstanding features and functionalities and specially designed for small businesses.

Intuit QuickBooks: Best Overall

QuickBooks is an accounting software released by Intuit.

It has a separate desktop version you can buy and install, and in 2019, they released the cloud-based system.

Millions of businesses use QuickBooks accounting because it designs for small and medium-sized enterprises.

It is very user-friendly, and business owners prefer this because they can handle this easily even though they don’t have accounting experience.

While coming to the price, it is very reasonable.

Features of QuickBooks Accounting contain:

With user guides and tax data export, it helps to file quarterly and annual tax returns.
Financial institution integration.
Sales tax calculations and reported tax payments.
Sort sales and expenses into tax groups automatically.
Scanned receipts are attached to the invoices.
Generate customized reports with cash flow.
QuickBooks Accounting offers a reasonable price:
Simple Start: $10 per month for business beginners.
Essentials: $17.50 per month for maintaining and expanding businesses
Plus: $25 per month to help more established and manages projects, inventory.
Sage Business Cloud Accounting: Best for Multiple Users

Sage Business Cloud Accounting is a global label that provides online accounting for small businesses.

It designs for small businesses, which established in 1981 in Newcastle, England.

It lets you select your industry, company scale, and requirements. Over three million businesses use it.

Without any accounting knowledge, users can use this and can set it up for multiple users.

The main features contain:

Manage business accounting and cash flow.
Generate and share invoices.
Available on all devices so that you can access it from anywhere.
Auto entry and synchronization.
Integration with your business institution and other apps.
User-friendly dashboard and tax compliance tools.
Forecast cash flow and inventory management.
Collaboration with your accountant on any device.
Pricing of Sage Business Cloud accounting as follows:

Accounting Start: $10 per month for start-level financing to help manage cash flow.
Accounting: $25 per month for excellent cloud accounting with invoicing, cash flow management, and actual entries.
They currently offer a 50% discount for three months and a free trial for 30 days.
Xero: Popular with best features

Xero is a web-based accounting software developed for small and expanding businesses.

Small business owners and accountants prefer Xero, which established in New Zealand in 2006.

Without any accounting knowledge, you can easily set and use this software.

It is popular with its easy-to-use dashboard and can collaborate with multiple users simultaneously.

Small business owners choose this because of the features and ease of use.

Its two-step authentication keeps your data secure and a very reasonable rate for each plan which you choose.

The main features contain:

Generate and send invoices and create an account claim.
Integration with your business institution and other apps, including HubSpot, Square.
Quick bank reconciliation.
Active financial reports.
Secured financial data.
Collaboration with multiple accountants.
Pricing for Xero is as follows:
Early: $5.50 per month, send 20 invoices, enter five bills, reconcile bank statements, and capture bills and receipts.
Growing: $16 per month, send invoices and quotes, enter bills, reconcile bank statements, and capture bills and receipts.
Established: $31 per month, includes all Growing tier features plus multi-currencies, expenses, and projects.
Every plan comes with a free 30-day trial for unlimited users.
Zoho Books: Best in automation
Zoho was established in 1996 in India and had a corporate office in California.

Its accounting software, Zoho Books for small businesses, has outstanding features which lest you monitor your finance generate invoices and collaborate with users in real-time, and many more.

Zoho includes multiples products for customer relationship management (CRM), human resource management, and inventory control.

Small business owners incline to Zoho books for automation, bank reconciliation, invoicing, and more.

The app integration allows you to integrate with other software which you already use.

It also provides a payroll solution for companies in India.

The main features contain:

Tax compliance and financial reports.
Sales management and invoicing.
Bank reconciliation.
Client portal.
Reports and records.
Automatic tax calculations.
Pricing for Zoho Books as follows:
Free: Includes up to 3 users, 1000 invoices per year, and 1000 bills per year with basic features.
Standard: ? 499/month billed annually and included up to 3 users, 5000 invoices per year, and 5000 bills per year and includes everything in free plus extra features.
Professional: ? 999/month billed annually and included up to 4 users, 10,000 invoices per year, and 10,000 bills per year and includes everything in standard plus extra features.
Premium: ? 2999/month billed annually and included up to 7 users, 25,000 invoices per year, and 25,000 bills per year and includes everything in professional plus extra features.
Elite: ? 4999/month billed annually and included up to 15 users, 100,000 invoices per year, and 100,000 bills per year and includes everything in premium plus extra features with ‘Advanced Inventory Control’.
Ultimate: ? 7999//month billed annually and included up to 15 users, 100,000 invoices per year, and 100,000 bills per year and includes everything in Elite plus extra features with ‘Dedicated Account Manager’.

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?

Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.

HOW PENNY AUCTIONS WORK!

The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.

HOW TO WIN!

Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.

HOW TO AVOID SCAM SITES!

Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.

CONCLUSION!

New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.


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