Archive for

How to Expand Your Network Marketing Business in the New Economy

I would like to take the time to welcome you to the “new” economy.

My recommendation for any network marketer interested in expanding their business in this economy is to first realize that we are in a “new” economy and the old way of doing things is just not good enough.

As this “new” economy starts to reveal itself to the masses, a large majority of the people you will come across will be in panic mode. Almost all of us have never experienced an environment like the one we find ourselves in today.

Do you want to know what to do?

Here is the formula. The bad news is this formula is going to require that you come equipped with a much better work ethic than you had in the past.

Here are some simple strategies for converting your business in such a way so that you will actually expand while others won’t.

  1. Defend your business (customers and down line) with your life. A strategy that is prevalent in the marketplace is to pillage other organizations. Make sure you are prepared for the on slot.
  2. It’s about the relationship you develop with your prospect, not how much it costs to join your opportunity. If you are constantly getting the objection of price, then you better learn how to overcome that objection. The easiest is to learn how to create rapport with the prospect.
  3. All the tasks you put off when times were good, you better be prepared to do them right now. When times are good, we all get lazy. It is time to wake up and take charge or someone will step in and just take.
  4. You need to be constantly reviewing your business habits and not settling for second best. Each and every day we need to review ourselves. If we did well, rehire yourself for the next day. If not, fire yourself and hire that person within you that can get the job done.
  5. Network like you have never networked before, and then network some more. Does this mean you should be talking about your business each and every minute of the day? No. However, we all could do better about being more aware of the people that surround us daily.
  6. Add value to others without the thought of receiving something back in return and become known in the network marketing community. Just like in network marketing where you work, work, work, get paid, the principle is the same give, give, give and eventually it will pay-off.
  7. Remember, most likely everyone else is scrambling to make corrections with their business, make sure it isn’t you. Understand the situation we are all in and decide not to focus on anything else but moving your business forward.
  8. It is all about personal branding and not about your company, product or service. When you decide to market something, market yourself and forget about the company, product and service. People are really buying you anyway.
  9. Ensure that all decision you make about your business and advice you offer your down line will still be good 5 years down the road. Sometimes we make decisions based on income or because of pressure from our up line. This is your business and you will have to live with your decisions.
  10. Focus on what is good about your team, your opportunity and your industry. Leave the whining to others. I look at network marketing like a buffet. I walk down the table and put the things I like or want to try on my plate. I don’t go back to the table and whine about everything on the table that I disliked.
  11. Work on your attitude each and every day. Make sure you read this correctly. This says work on “your” attitude each day, not on someone else’s.
  12. Invest in your business and specifically personal development. Stop looking at it as an expense. The best investment you can make is in yourself. Make sure you don’t leave this out.
  13. Differentiate yourself from others in everything you do. This starts with your communication skills. Look at everything that you need to do in your business and decide to “master” each area.
  14. Work your business to leverage the power of technology, as well as, the fundamentals of traditional practices. Technology is an awesome resource to use to build your business. However, it will never replace the personal contact and relationship building necessary to build a large organization.
  15. Understand that you need rejection in the marketplace. You do not want everyone to join your business. Sometimes when people first start out they don’t care who joins there business, as long as it is a warm body. You need to be more selective in who you work with.
  16. Build your business on an International scale. The best way to leverage your business is to recruit people around the world and then your business will never be closed.
  17. Build your business during business hours and yourself during all other hours. This does not mean 9 to 5. It means that you need to focus building your business when it is appropriate to talk with people and then out work on yourself the rest of the time.
  18. Lead by example carefully. What you do right, your down line will do 50% of the time. What you do wrong in your business your down line will do 100% of that. Don’t expect someone else to do what you are not prepared to do yourself.
  19. Write your goals out. Put them in front of you and review them twice a day until the list is complete. If you have heard this before, my question to you is, “Are you doing it yet?”
  20. If you are building a business for the future, you better be positioning yourself to be there to enjoy it. I hope that you are taking care of your health by eating right and exercising. If not, perhaps you should put your business in someone else’s name and save time.
  21. This is your business, act like it. It is time to stop thinking that your success or failure is the responsibility of the opportunity or your up line.

Some people get in a business, do nothing and wonder why their business does not work. The business works when you work the business.In conclusion, all that is necessary to expand your business is to master these strategies.

  • Remember to take care of your down line and your customers.
  • The shape of your business will be decided on how much you improve yourself.

Summary: Stop whining and get to work. It is a business.

Start-Up Advice – Helping You Remember the Things Needed When Starting a Business

So you are thinking of starting a small business. Let us say you are passionate about something, painting or baking for instance, and decide of basing your line of business on it. You are excited to get started as you get to enjoy and earn profit at the same time. But, for sure, you are aware that you just cannot run a business just then and there. There are crucial things that must be considered and that must not be overlooked.

If you are new to business, you can always seek start up advice from your trusted friends who have enough experience in the business world. You can also ask from professionals whose lines of work are related to business in general. Moreover, the internet is a rich source of information regarding how to start and go about your business. But of course, you have to take those pieces of information with a critical mind.

One thing that you should arm yourself with is a business plan. You just cannot go to the battlefield of business without a well-laid out plan, just like what you want your business to achieve and how you are going to go about it. You need to know how much it would cost to start and run your chosen business, and make the necessary business proposals to possible investors if your funds are not enough. Usually, you have to prepare necessary funds for a building (which you may have to rent or buy), advertisements, employees, and of course the start-up products and equipment.

Then you would have to come up with a business name, something unique but will easily be remembered by your prospective customers. Of course, you will have to register your business. Also, you have to make a separate business account so as to avoid getting your personal finances mixed up with your business finances.

Moreover, if there is one thing that business people must be careful with is keeping clear financial records as early as the business has began. Besides keeping track of the financial status of your business, these records help you make tax deductions for which you are entitled. Speaking of taxes, you would want to be aware of the current tax laws and legislation as your ignorance of these can be detrimental for your business later on. You can hire the services of accountants to help you with this, though, together with the auditing and bookkeeping needed in businesses.

You should also be aware that there are firms that can help you decide on the kind of business format that you should have and can give you advice on business plans as well as budgets. You may have to spend money on this, but it can be considered an investment as it can benefit your business on a long-term basis.

The number of businesses, big or small, running in a particular area is one of the factors that dictate its economic stability. That is why starting and running a business is encouraged. While it is said that not everybody can be good business people, it would not hurt if you consider yourself being one. There is a risk that comes with it, of course. But, this risk can be lowered by making informed decisions. It is your responsibility to make a research, solicit pieces of advice from friends and business professionals, or any way where you get yourself informed what it requires to start and run a business. Although it can take a lot of your time, the rewards can really be fulfilling, not only economically but also emotionally.

Benefits of Business Modeling With Metrics

Business modeling with metrics is a more mathematically based way of creating a business framework. Metrics, if employed correctly, could measure the different qualities of a business and help it integrate its business model into its objective, departments, and business strategies.

Metrics are any type of measuring tool employed to quantifiable data that gives an analytical number to the various aspects of an organization. It can be used to evaluate anything from margins of risks to employee performance to profit ratios. Business modeling with metrics is a viable way of formulating an informed and comprehensive structure on which to operate a business on.

A business model should integrate the core aspects of an organization, its vision and mission, its operational infrastructure, resources, policies and business practices. It covers a broad range of vital areas and tries to present a cohesive picture of how the business will operate and its direction.

A business metric is essentially a measurement tool to evaluate a businessâEUR(TM) performance in various areas. The metrics used should be appropriately designed to give accurate information on the performance of specific areas important to the success of a business. The qualities have to be defined and the perimeters of measurement clarified. It is important to measure the right things for the right reasons.

There are many ways business modeling with metrics could fail if the measurement tools used are inexact. Wrong conclusions and decisions could be made to the disadvantage of the entire organization. These problems could be avoided by choosing the correct indicators the metrics should measure and ensure that the metrics are constantly up to date. It is vital to a business that the metrics being used is adaptable and flexible enough to change when the business changes.

Business modeling with metrics is an effective way to acquire information and apply it to the business. However it must be done with care and temperance. Everything must be well defined and directed towards a purpose. Metrics can be helpful but at the same time a haphazardly put together metrics evaluation system could only serve to confuse and misdirect.

The use of metrics in formulating a business model is a practical way of measuring and evaluating the principal aspects of a business. Metrics give quantifiable information and could also provide enlightenment and direction as to improvements and strategies that could be advantageous for the company. A measurement of how well a department, policy, or business practice performs only opens doors for further improvement and innovation.

A business model is a conceptual framework for the direction, organization, and operation of a business. It incorporates all the core aspects that drive and manage a business. It is important to possess the correct information and the accurate tools to which an assessment of its resources, strengths, and weakness are placed into proper context. A well conceived and organized business must be able to maximize its assets, mitigate its shortcomings, and maintain sustainability.

Business modeling with metrics could provide an information based framework for a business to operate on. A sturdy yet flexible framework for a business could help it develop and succeed in pursuing and achieving its main objectives while remaining true to its mission.