Monday, July 27, 2009
Reviewing The Fundamental Plan for Your Own Network Marketing Business
Life is all about sharing. Don't work in islolation. You can't get a new home-based business off the ground without drawing on other people's experience and knowledge. Like most network marketers, I made a ton of mistakes, largely because I simply did not have good guidance and a well-formed plan. Any of the real gurus will tell you that. Many of them struggled for years before succeeding. And you can learn a lot from the right mentor.
So today, I'm taking a look back and reviewing the basic steps you need to take to get started right.
First and foremost, whatever you decide to do, be committed - at least for a year. Businesses do not succeed overnight. And all those 'make thousands quick' deals in the MLM industry probably aren't worth your time. Be honest, thoughtful and consistent. Make sure you add value. Establish yourself as a real professional who has something to offer that people want or need.
Step 1: Determine what you want to do. Select something that suits you, that will allow you to build off your strengths and that you will really enjoy and will be committed to - if you aren't, you'll find yourself in trouble (and a lot poorer) quickly.
Step 2: Analyze why you want to do it. Write out a clear statement of your why. It's not just about making money, it's about making money to pay for your kids' education, to travel and do things you've never been able to afford, to build for your own retirement by achieving full financial freedom, to allow you to do something else that you're really passionate about but doesn't make you any real money, and so on. Whatever your 'why' is, it's your real motivation to keep going. So post your 'why' where you can see it every day.
Step 3: Consider when to get started. This is actually a bit tricky. 'Now' is the obvious answer. And most gurus will tell to 'take action now.' But if you start running around without a good financial and business plan in place, and you fail to accumulate some basic knowledge about your industry and business, you'll just wind up flitting from one thing to another, trying to find something that works. When you've got your foundation, you can apply the '80% action/20% learning' rule. But when you are getting started, I'd recommend '40%/60%'. I think you'll avoid a lot of mistakes and, ultimately, be more successful. So, by all means, get started now, but make sure you have your ducks in a row too. There is no road to instant success.
Step 4: How: The two major problems people building a new home-based business have are: 1) Lack of Money and 2) Lack of Quality Leads..
The first can be overcome by preparing and utilizing a good budget and by finding a way to generate enough income while you're getting off the ground with your main business. Know what you can afford to invest and how you want to invest it. Don't run around buying up stuff or programs without careful thought. There is a lot of good information on the Net and a lot of excellent guidance that is available for free from top leaders in the industry. Find it (google search, FaceBook groups are some good starting points) and use it. Allocate your funds so that you are getting maximum value.
Many people will tell you 'this is the truth, the way. Just sign up and you're off to success'. Look rather for those who invite you to learn, offer valuable advice, video presentations, and webinars - people who want to build a relationship with you that will be mutually rewarding. But don't buy anything until you've evaluated its potential benefit to you. And stay on budget or you'll be out of business.
Overcoming the lack of quality leads really rests on two factors: building your own list and building a strong relationship with that list. People who favor the warm marketing approach will tell you to start with your family, friends, acquaintances and associates. It works for some people, but not for me and probably not for many of you. I prefer the principles of Attraction Marketing and build my lists and relationships to establish myself as someone people want to do business with. But much more on that later.
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