Copyright © 2007 by Sue Seward. All Rights Reserved.
(***You may copy this article using the attached bio below)
Notice the word ‘work’ in this article's title. That’s right any business takes hard work to develop over time and a home based MLM business is no different.
Just think of yourself as the CEO of a major corporation. Because that’s what you really are with your MLM home business which has the potential to actually pay you like a CEO of any corporation and sometimes even more!
Treating an MLM home business like a REAL business will ultimately create wealth like a REAL business. This is where most people fall through the cracks so to speak because they just do not understand business and what it takes to succeed in one.
Many start an MLM home business with a ‘‘I’ll give it a try’’ attitude and it ends up being a hobby which ultimately pays like a hobby and all that really means is no profits like a business can generate.
Thinking like a CEO of a major corporation will help you to position yourself and condition your mindset to realizing that you are your own boss instead of having an employee ball and chain mindset. You are the one making the decisions for your future and the decisions you make will either give you long term financial freedom in MLM or long term slavery. Which one do you choose?
It’s important for any MLM business person to set up a business plan for their future. Our team uses a written business plan that is sent out to each new partner because this shows that we are in business to make a profit 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 your 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 your longer term goals and do not be afraid to change your goals and stretch to reach bigger ones.
Prioritize your 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 you speaking with people about your MLM home business and products are going to be productive and help you to reach your long term goals.
The most important thing is to avoid procrastination to get where you want to be in five years.
Devote a certain number of hours a week to your MLM home business. This will depend on your lifestyle and other activities that are important such as a full time job, taking care of your family, church activities, sports activities and other important priorities in your life.
Putting a timer on your desk to help stay on track and to finish an important task without being sidetracked could help. The Internet is a great way to get 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 wisely and productively and always keep a business mindset because ultimately the long term goal is to build a business using these resources.
Develop a productive routine that helps you to obtain your short term goals that will lead up to your long term goals. Stay organized and focused with that long term big dream in mind at all times. This is why it’s important to write goals down or put photos up to always keep your mind refreshed on WHY you started an MLM home business in the first place.
Surround yourself with positive likeminded people who have similar goals and constantly be on the lookout for business minded people. Take on a professional attitude and look professional when you go out and are approaching people about your business.
If you are building an online presence make sure you have a personal photo on your website. Having a professional one taken is even better. This is the first thing people see when they visit your MLM website. They are looking for leadership and professionalism and someone who is serious about their business.
Always put a personal photo on your profile in the online communities. This is crucial to your success as a business person! Never use abstract pictures. This will not present you in a professional business manner and people simply will not take you seriously or look to you for business advice.
Make sure that you are saving all of your receipts for tax purposes and find an accountant that understands MLM and home business. 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.
This is why it’s so important to have a business plan in place to show you have a serious intent to make a profit. It’s also a great way to stay focused on goals.
Speak with everyone you know and meet about your business and hand out business cards. If you opened a book store or a boutique you would tell everyone you know about it right? Then why not tell people you know about your Network Marketing business?
It just does not make sense not to does it? After all when you are a serious business owner you are constantly thinking of how to move your business forward into a profit. You would be advertising, you would have expenses to run your store, you would be hiring employees and managing them and you would be keeping records for tax purposes.
MLM is really no 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. Just make sure the MLM company you choose does not have inventory requirements or heavy group volume requirements to earn commissions.
If a company requires you to buy a large amount of product up front to start it’s called ‘frontloading’ and this is usually not a positive thing. People many times get caught up with products they are not able to retail so they tend to sit in their garage or cupboards. This is where the term ‘garage qualified’ comes from. It’s why the media often pokes fun at the MLM industry.
Most companies require you to first purchase some type of ‘starter or distributor kit’. This is a one time cost and is usually under a $100.
You will also have monthly expenses for office supplies, postage, advertising and depending on how you market you could have expenses for some type of online marketing system to run your prospects through. Remember to get with your accountant to find out about your tax deductable business expenses.
You should not be required to pay more than $39 to $100 to start an MLM home business with the actual company. This also does not mean that you take your business LESS seriously!
On the contrary, a home business has the same amount of potential or sometimes even more than any other business. It depends on the person starting the business to take it seriously enough for it to create the kind of wealth potential it really has.
When you become a distributor for an MLM, Network Marketing, or Direct Selling company (these are all one in the same) this gives you the right to sell that companies products and services to others. When you are selling products you are in business. When you are sharing you have a hobby so think about that concept.
Again if you owned a store front you would not be sharing products would you?
How long do you think your home business would stay open if all you did was ‘share’ your products with people who came into your store?
Business owners sell products. People who have a hobby share products. It’s that simple.
You will however share the home 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 concept.
If you are still not sold on the validity of starting an MLM business and it’s potential simply go out and pick up a few of Robert Kiyosaki’s books and/or cds.
In fact, he just wrote a new one with Donald Trump called ‘We Want You To Be Rich’ where in chapter 27 they are extremely positive about recommending the MLM business model. Get some of Kiyosaki’s CD’s ‘The Perfect Business’ to hand out to people to educate them on the MLM home business model. Let these expert professional business owners do the explaining for you.
When someone ask you how you’re doing tell them you are right on track to achieve your goals!
Most traditional businesses do not make a profit for years and in fact, many go out of business within the first two years. So why on earth should you be ashamed when you start your home business and in a few months when you are not stinkin filthy rich, one of your friends ask you if you’re making any money and you become embarrassed to tell them about it.
Just tell the truth. You’re in a real business and any business takes money, time and work! This is not the lottery! It’s a business! Most business minded people you speak with will understand this concept so do not worry if your friends and family do not. Your job is to be the messenger. If they have been misinformed, burned in the past or do not understand the MLM business model, lead them to the resources and then move on. They have to decide if they are interested in becoming a business owner or not. It’s not your job to convince them.
This is another reason to find the right company with a product that has real RETAIL value built in so that you are able to start profiting by putting cash in your pocket immediately as soon as you receive your products!
If you have a product that is not retailable it’s going to be really tough to put immediate cash in your pocket. You’ll be forced to do more sponsoring to find more wholesale buyers to purchase and consume your products and this can take a lot longer for you to start making a profit right away in your business.
Start believing, thinking and acting like a business person. Be professional, put your plan in place, take action everyday to achieve your goals, never give up and you will eventually become successful in your home business. How successful? That really depends on you! Start right now! Your future is waiting!
Sue is an MLM Consultant & Online Coach, top income earner with her company, who has been working from home online since 1996. She encourages millionaire mind thinking and shows people how to develop valuable connections online and turn them into lasting relationships for long term business profits. She is also a public speaker and published author of numerous print and electronic articles as well as coauthor of the book 'Build It Big: 101 Insider Secrets From Top Direct Selling Experts'. To find out more about how Sue builds her business online visit