“Going into business for yourself is exhilarating and almost always exhausting,” stated 27-year-old Taylor Olsen. Only passion for self-employment is likely to see you through the 17-hour days, month after month, and the painful mistakes, which are unavoidable, yet necessary for the business to prosper long term.
Olsen comes from a long line of entrepreneurs who worked in trucking, windows and cabinets, farming, and realty. As a Moorhead high school student, Olsen’s extracurricular activities involved outside business ventures rather than sports or school activities. Olsen spent much of his free time sweeping floors and doing general maintenance at the family owned business Russo Windows on 1st Avenue North Moorhead. He later became the service manager which provided him the opportunity to learn the business from top to bottom.
This early exposure to the business world led him and his brother Jack to opening Modern Builders & Property Management, which specializes in remodeling, siding, and lawn care. However, when K-BID.com became available, Olsen could not resist the opportunity. “I was Moorhead Liquidation’s “best” customer,” explained Olsen. “I have enjoyed auctions since I was just a kid.” With the support of his wife Danille, their final bid was accepted in 2012 and they became the proud owners of a youth pastime.
Olsen explains that K-BID.com is a venue for online auctions in Minnesota, North Dakota, and Wisconsin with over 160 affiliates throughout the Midwest. Online auctions are sales transactions involving competitive bidding that are conducted over the Internet. Whether the sales take place between individuals, between consumers and merchants, or between businesses, online auctions have enjoyed a rapid increase in popularity.
The process has been described similar to a garage sale, with commonly offered items including collectibles, antiques, toys, clothing, and event tickets. Online auctions appeal to those who enjoy the competitive bidding process. Costs are usually limited to a small percentage of the final sales price.
Auctions on K-BID are timed online auctions. Auctions are scheduled to end on a specific date and time with all bids placed online. Bidders are given the opportunity to inspect each item to determine its value and condition before the auction closes. The difference between K-BID and some other auction websites is that winning bidders are responsible to pick-up and pay for the item during the scheduled removal date at the auction location. At any one time, there are over 200,000 K-BID bidders so Olsen is very confident that his team of five employees can turn any asset into cash.
One of the most common questions is whether the owner is allowed to bid on their own item. Shill bidding is a direct breach of the terms of the website and affiliate agreement; therefore, owners are never allowed to bid on their own items. Bidders are encouraged to notify the company if they become aware of any such infraction.
Olsen said that you absolutely do not know what is going to come through the doors on any given day. “From boats, lawnmowers to jewelry, you just never know.” Several of the most memorable items range from a zebra head to a local company’s airplane. K-BID’s inventory also includes a number of RVs, pickups, and other assorted vehicles. The inventory turns quickly and often so he advises that bidders check out the website on a regular basis in order to find the best and unique items.
Taylor Olsen
K-Bid.com Owner
k-bid@gomoorhead.com
218 422-9040
2310 4th Avenue North, Moorhead, MN 56560
http://k-bid.com