Reverse,Auctions,Tips,for,Succ DIY Reverse Auctions - Tips for Successful Bidding

Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in When starting a new work at home business it is very easy to become consumed by it. We spend so much time trying to get the business up and running that we may end up becoming burned out and lose our motivation. There is so much to learn and

Reverse auctions provide an excellent opportunity for increasing yourbusiness, particularly in the service sector. The website will notifyyou of projects posted on a reverse auction site in your area ofexpertise. You review and bid on those that interest you, andincrease your business as you become more successful in your bidding.To get started, register with selected reverse auction sites thatcover the services you provide. Select all the categories you areinterested in being notified about, and select the geographical areasthat you cover. Most websites will notify you of new projects in yourcategories and locations. Some reverse auction websites offer theopportunity to include a description of your services, licensing,insurance, bonding, how long you've been in business and the like.Most, however, insist that you do not list your contact information,so you'll need a user name that is different from your business name,and you won't be able to list phone, e-mail or website address.This prohibition on contact information stems from two basic causes:First, listing your contact information is an invitation to thecustomers to contact you directly – and subject themselves to yoursales pitch before they have had an opportunity to see what otheroffers the posting might bring out. Second, reverse auction websitesnormally charge a small fee for successful transactions, and if thebusiness is completed off line, the website will see itself as beingshort-changed.So – how should you respond to a posting for something you areinterested in bidding on? Several factors make for a successfulapproach.Study the posting carefully. Is there enough information for you toadequately bid? Are the size, quality, time frame, accessibility,and other factors clearly spelled out? Are there sketches orphotographs to support the posting, so you can better visualize whatthe job entails?If there are details missing, request clarification from thecustomer. Use the site's communication tools to tell him or herwhat you need to know, maybe giving examples of the type of thingrequired. For example, on a house painting job, maybe the customerdidn't specify the type of paint to use. Suggest your favoritebrand and two or three grades for them to pick from. If the sizesaren't clear, request the specifics you need. If the geographicarea isn't specified, request a zip code so that you know prettyclosely where the job is located, assuming it's a physical job.Be sure you check the complete content of the project listing. Thecontract you enter into is binding on both parties, so you want tobe sure you understood everything that was required.The other side of this is that the person listing the job may nothave included all the information required to do the job, eventhough the listing appears complete. Include in your bid what yourdrive-up charge is (again, for a physical job), so that, if thescope is larger than was described, you can describe to thecustomer how it's different once you see it, and what the extracharge would be. If they decline, you will have told them what itcosts to have you come out to the site and then go away withoutdoing the work. As long as the scope of the work is significantlydifferent than what was described, the contract won't be valid, butyou'll still be compensated for the time and trouble to show up.Manyreverse auctions involve programming, website development, editing,technical writing and such, that can be done without ever meetingthe customer. In reviewing this type of contract, be sure that thedetails are clear, and that you ask for clarification you needbefore bidding. You can, as many suppliers of this type of work do,bid a scoping price, in which the specification and scope of thework will be detailed out in a preliminary contract. Once the fullspecification is available, you can then bid on the resultingspecification.Keep an eye on what competitors are bidding, and how they aredescribing it. Generally you can go back in and modify your bid ifyou either discover through reviewing their bids that you missedsome element of the project, or if they are undercutting your price– just don't allow yourself to become so competitive that youcause yourself a loss!If you haven't tried reverse auctions yet – give it a whirl. For afew minutes spent registering with a few sites, you may get businessopportunities you wouldn't have seen without being registered. And,as your reputation and rating on the site build up, you will attractmore business.