Building Your New MLM Business Budget

It's time to consider your budget. Any new venture has upfront costs, maintenance costs, promotion costs and other costs you may not have thought about. So your first step is to determine how much you have to spend and for what. If you're a multi-level marketing (MLM) beginner, you can wind up buying lots of stuff for a lot more money than you have to spend. A lot of people go out of business very quickly because they outrun what they can afford to pay.

Let's start by considering your income goals. Let's say you want to get to $15,000 per month within two years, sooner if you can. You can see yourself doing it - you're excited and committed to do what it takes over the long haul. You've found the businesses you want to opt into - you're sure they can get you there - eventually.

Now let's say you only have a budget of $2,000 for the next six months. That's all you can spare from your or the family's budget. Believe me, you can chew that up in no time at all, unless you plan carefully. Assume you have two MLM businesses you opt into. One costs $75 and the other costs $400. Once you join, there are, say, $30 web maintenance fees for each business ($360 for both businesses over six months). Now you want to buy business cards, cds and other promo materials to help you get started; let's assume those cost you a total of $150 for both businesses. Wham. You've used up $985 of your $2,000 - and you haven't started yet. Now you want to do some videos, but you need a digital cam corder (another few hundred). And you decide you need to do advertising (say you want to spend $300 a month to get your ads to the right places). And what about lead generation and autoresponder systems? Whoops you're way over your budget and not much is coming in income-wise because it takes time to build a business.

No. You don't need to give up. Think and plan. Consider realistic options and their costs. But get going. Take action now. There are ways to generate income that can help you keep going while your new business is developing.