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Success Tips For Working An MLM Home Business Copyright © 2007 by Sue Seward. All Rights Reserved. See the word 'work' in the article's title? We all know that any business takes hard work to develop over time and a home based business in Network Marketing is no different wouldn't you agree?
As Network Marketing business owners we think of ourselves as the CEO of a major corporation. Because our Network Marketing enterprise has the potential to actually pay us like a CEO of any corporation and sometimes even more.
Treating a Network Marketing business like a REAL business will ultimately create wealth like a real business entity does. This is where most people tend to fall through the cracks because they may not understand the logistics of business or the investment and effort it takes to start and run one successfully.
Many join with a "give it a try'' attitude and it ends up being a hobby which ultimately pays like a hobby and all that really means is, there may not be profits generated like a business.
Thinking like a CEO of a major corporation helps position ourselves and condition our mindset to realizing that we're our own boss vs. having an employee mindset. We make the decisions for our future and the decisions we make give us long term financial freedom or long term slavery. Think about which one of those is best for you?
It's important for any business person to set up a business plan for the future. We use a written business plan because this shows we are in business to generate profits vs. having a hobby.
Think about where you'd like to be five years from now. The decisions you make now will affect that outcome. Set 5 year, one year and one month goals. Write them down. Do not be afraid to dream BIG. Remember a goal is a dream with a deadline. Once you obtain one goal set a new and bigger one.
Make sure you set realistic daily goals you can achieve every single day that will lead up to longer term goals and don't be afraid to change your goals and then stretch to reach the bigger goals.
Prioritize a 'to do' list and do the most important things first that are ultimately going to help you reach your long term goals. This usually means prospecting. Anything that has to do with connecting with people is going to be productive and help in reaching long term goals. Invite people to look at a presentation online, by webinar, phone, in person at a meeting or party, or one on one. This is how we expose what we do. We're the messengers and it's up to them to decide after hearing the message as to which direction they are interested in taking. Our job is to invite, expose, and follow up. Timing is everything and it's either going to be the right timing or not. Keep in touch.
The most important thing is to avoid procrastination and just do it!
Devote a certain number of hours a week to productive business activities that generate income. This will depend on a person's lifestyle and other activities that are important such as a full time job, taking care of family, church, other social activities, sports activities and important priorities that may be centered on family.
Putting a timer on the desk to help stay on track and finish an important task without being sidetracked is helpful. The Internet, smart phones, iPad's, iPod's, Facebook, is all great ways to become sidetracked. Places like yahoo groups, online communities, instant messenger are all ways to meet and communicate with people online but they can also be very distracting if a person gets caught up for hours in these areas. Make sure to use them productively while keeping a business mindset because ultimately the long term goal is to build a business using these networking communities.
Develop a productive routine that helps obtain short term goals that will lead up to long term goals. Stay organized and focused with a long term dream in mind. This is why it's important to write goals down or put photos up to keep the mind refreshed on WHY it was important to start a business in the first place.
Stay surrounded by positive likeminded people who have similar goals and constantly be on the lookout for entrepreneurial minded professionals. Look professional when going out approaching people about a business venture.
*When building an online presence make sure to have a personal professional looking photo on any blog or website. This is the first thing people see when they visit a website. They are looking for professionalism, leadership and someone who is serious about business. It's also best to use a white or light back ground for blogs or websites with black or dark text. Using a dark or black back ground is very hard on the eyes and people may drop off quicker because of eye strain. Never use black back ground with red copy because someone may be color blind and not even able to read the copy at all.
*Always use a personal photo on profiles in the online communities. Never use abstract or avatar pictures. This doesn't appear professional and in fact may appear more like a spammer.
*Save all receipts for tax purposes and find an accountant that understands Network Marketing and home-based business rules. There are many excellent tax deduction advantages available to you as a home based business owner and you may be missing out on them because you are not seeking proper tax advice. My friend Ron Mueller is an expert in this area. Check out his resources for home business owners at====> Home Business Tax Info
This is why it's so important to have a business plan in place to show a serious intent to make a profit. It's also a great way to stay focused on goals.
Make connections while out and about. Ask for a business card and hand one out when appropriate. When someone opens a book store or boutique they usually tell everyone they know about it right? Then why not tell people you know about a Network Marketing business? It just does not make sense not to does it? After all any serious business owner is constantly thinking of how to move their business forward into profit. They are advertising, have expenses to run the store, hiring and managing employees and keeping records for tax purposes.
Network Marketing is really not much different than having any other business and there are some significant advantages. There are no overhead expenses or employees to manage while offering the same tax advantages available to all small business owners today.
If a company requires a large amount of product (usually over $500) up front to start, this is typically called 'frontloading' and is usually frowned upon by the FTC. People can become hindered with products they are not able to retail right away so they tend to sit in their garage or cupboards. This is where we hear the term 'garage qualified'. If someone has a budget for a certain amount of product and has set a up a business opening, home party or presentation to resale that product or consume the product personally, that's a business decision they must make on their own. Be cautious about being pressured by a sponsor or upline into frontloading product you have no intentions of selling right away or have no intended use for.
Typically Network Marketing companies have some type of 'starter or distributor kit'. This is a onetime cost and is usually under a $100. There will be monthly expenses for office supplies, postage, advertising and depending on how someone will market the business they may have expenses for some type of online marketing system to present the product and opportunity to their contacts online and anyone who sees their materials offline and are directed to an online presentation. Touch base with an accountant to find out about tax deductable business expenses.
Just because it does not take a large investment to start a Network Marketing does not mean to take the business LESS seriously. On the contrary, a Network Marketing business has the same amount of potential or sometimes even more than a traditional business. It depends on the person starting the business to take it seriously enough and create the kind of wealth potential that is possible.
When we become a distributor for a Network Marketing company this gives us the right to sell that particular companies products and services to others. When we are selling products we are in business. When we are sharing we have a hobby. Again when we own a store front we would not just be 'Sharing products' would we? How long would a business stay open if all someone did was 'share' their products with people who came into their store? Business owners sell products and services in order to stay in business.
We do however; share the Network Marketing business concept. This is when selling and convincing is not necessary. When it comes to sharing your business concept all you do is give a person one of the resources recommended below so that they can make the decision for themselves. You are just educating them on your business model. They are either in the looking zone for a business venture or they are not.
For anyone still not sold on the potential advantages of owning a Network Marketing business pick up a few of Robert Kiyosaki's books and/or cds which educate people on the Network Marketing business model. Let this type of resource deliver the message.
When someone ask you how you're doing tell them you are right on track to achieve your goals in your business. Most traditional businesses do not make a profit for several years and in fact, many go out of business within the first two years. So why be ashamed when starting a Network Marketing business?
Always tell the truth about being in a real business and any business takes money, time and work. Owning a Network Marketing business is not the lottery. It's a real business so treat it like one. Most business minded people understand this concept so not to worry if friends and family do not understand or poke fun. Be the messenger and if someone has been misinformed, burned in the past or doesn't understand the Network Marketing business model, lead them to the resources and let them decide. It's not our job to convince anyone. If someone has to be convinced or talked into something they usually don't do anything anyway because it wasn't their idea, passion or desire. Make sense?
Start believing, thinking and acting like an entrepreneur. Be professional, put a plan in place, take action everyday to achieve goals, make connections with positive like-minded people and never give up.
Sue is a Network Marketing professional and business owner who has been networking, connecting and building relationships online since 1996. She created a full time career in Network Marketing and lives at Lake Travis in Austin Texas with her husband and their Aussie dog Titan. They have two grown sons who have built successful careers of their own. Sue was blessed to be able to stay home and raise them while working from home. She was one of the co-authors of the Direct Selling Women's Alliance book 'Build It Big' - 101 Insider Secrets from Top Direct Selling Experts & trainer on their Mentored by the Master Series CD and still contributes as a writer for TheNetworkMarketingMagazine.com. She is passionate about living a healthy lifestyle. Visit Sue's other two blogs at SueSeward.com & GlutenFreeLady.com
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