Time Management Tips for Storage Auction Hunters
As a buy-sell storage auction entrepreneur, you probably don't pay much attention to the time. After all, there's no one forcing you to speed things up, so what's the point? Like most businesses, however, proper time management skills are essential for success in this industry. Failure to work fast and efficiently will restrict the number of auctions that you are able to attend, ultimately reducing your revenue and profits in the process.
One of the biggest mistakes newcomers to the storage auction business make is failure to bring the necessary items. Because most self-storage facilities only accept cash payments for auctions, you'll need to bring cash when attending an auction. If you only bring your checkbook or plastic, you may have to drive back home to get cash, which takes additional time and energy. Other items that you should bring include a flashlight (with extra set of batteries), knife or box-cutter, gloves, and a lock.
Focus on Smaller Auctions
Auctions with fewer bidders tend to yield the highest return on your investment. There are several different reasons for this, one of which is simply the lack of competition. With fewer bidders, the final bid price tends to be low. And secondly, smaller auctions allow you to get in and out in less. This means you can cover more auctions, which of course is essential to running a successful buy-sell storage auction biz.
Create a Schedule
Arguably, one of the most useful time management tips of all is to create (and follow) a schedule. In other words, plan your day ahead of time, dedicating a certain amount of time for each task. You may spend 30-60 minutes during the initial bidding process, and then another 1-2 hours cleaning out the unit. Having a schedule will allow you to stay on course, promoting greater efficiency of your time.
Bring a Friend to Help
You really never know what to expect at storage auctions. Some units may be filled with small, easy-to-carry items, whereas others may contain large furniture, exercise machines and other big items. If you encounter a unit with large items such as this, you'll probably need at least one other person to help you load the contents. Rather than waiting until you've already won the unit to seek help, ask a friend to tag along beforehand. Most people will gladly accept the invitation, as storage auctions are downright fun and interesting!