Thursday, July 14, 2011
Wednesday, July 13, 2011
Tuesday, July 12, 2011
Operating a Successful Home Business
As an independent distributor for a network marketing company, you are in business for yourself. You are responsible for obtaining the appropriate licenses, keeping records, and paying taxes. Most networkers treat their business as a hobby. Those who are successful treat it as a big business (even when it's still small). The choice is yours. If you are one of those who would like to build a solid business, keep reading.
Your first step should be to check with your local government to see what licenses are necessary to operate a business. Secure those licenses, so that you will be a legal business.
Next you should arrange for a separate phone line (or a voice mail number) for your business. This is the number you will put on business cards, letterhead, brochures, etc. Check with your network marketing company to see if they offer business cards, letterhead, and envelopes. If so, order them. If not get prices from some local printers and order a small quantity (250 to 500) of each.
Go to your bank and set up a business account. You may need your business license, so take it with you. By establishing a separate checking account, you will be able to distinguish your business expenses from personal expenses when it comes time to pay the IRS. Since home based businesses are one of the few tax shelters left for the middle class, I would also recommend that you consult with an accountant.
When setting up your office, select a place where you can have a desk, file cabinet, phone, and can make calls without being disturbed by your family (if you have one). It is best to set up an office in a separate room with a door that will close. At very least you will need a desk, chair, and file cabinet. You will definitely need a computer for checking on your business in the back office, ordering products, changing your autoship, communicating through email, interacting with people through social media and more.
If you adopt a business mindset (rather than a hobby), you will increase your odds of success in network marketing. Just because it only cost $50 (or whatever the fee is for your company) to get started, doesn't mean that it isn't a big business. The potential in most network marketing opportunities is greater than with any franchise.
Your first step should be to check with your local government to see what licenses are necessary to operate a business. Secure those licenses, so that you will be a legal business.
Next you should arrange for a separate phone line (or a voice mail number) for your business. This is the number you will put on business cards, letterhead, brochures, etc. Check with your network marketing company to see if they offer business cards, letterhead, and envelopes. If so, order them. If not get prices from some local printers and order a small quantity (250 to 500) of each.
Go to your bank and set up a business account. You may need your business license, so take it with you. By establishing a separate checking account, you will be able to distinguish your business expenses from personal expenses when it comes time to pay the IRS. Since home based businesses are one of the few tax shelters left for the middle class, I would also recommend that you consult with an accountant.
When setting up your office, select a place where you can have a desk, file cabinet, phone, and can make calls without being disturbed by your family (if you have one). It is best to set up an office in a separate room with a door that will close. At very least you will need a desk, chair, and file cabinet. You will definitely need a computer for checking on your business in the back office, ordering products, changing your autoship, communicating through email, interacting with people through social media and more.
If you adopt a business mindset (rather than a hobby), you will increase your odds of success in network marketing. Just because it only cost $50 (or whatever the fee is for your company) to get started, doesn't mean that it isn't a big business. The potential in most network marketing opportunities is greater than with any franchise.
Monday, July 11, 2011
Procrastination, the Business Killer
I know you will probably want to read this article, but just won't quite have time to get to it, right?
Procrastination kills more network marketing businesses than any other reason. Network marketing is a very simple business - talk with people about the products and business. Talk with enough of them and you will be successful.
Unfortunately, fear makes people procrastinate on contacting people.
Here are 10 ways to beat procrastination:
1. Have a purpose or why for your business and base all your goals on that purpose. To determine your purpose, visualize what you want your life to be like and how your network marketing business will contribute to that.
This picture will become your why.
2. Have written goals which you review EVERY day. Write goals for all parts of your life - spiritual, physical/health, family, social, business, personal, etc. Write short goal statements, as if you had already accomplished the goal. Review these every morning before you plan your day.
3. When you end the work day, clean off your desk, so you can start fresh each day. This will force you to file things that are important and to throw away those that aren't. It will also allow you to start each day without any distractions.
4. Start EVERY day with a plan of activities, based on your goals. By having a written plan of action, you will always know what to do next and are less likely to procrastinate.
5. If you have a large task, break it down into bite-size activities. If you are like most people you get overwhelmed with big tasks and will begin to procrastinate. If you break the big task down into smaller tasks you will quickly find that you have completed the larger task.
6. Prioritize your activities. In network marketing, your highest priority activity is speaking with prospects for your business or products/services. Don't allow yourself to get caught up in doing activities that are not productive - like filing, re-writing letters, re-arranging your office, creating new literature, etc. If you're not talking to prospects, you're not productive.
7. Work on the top priority activity until it is completed, analyze the rest of the activities, re-prioritize and start on the next most important. Again, it's human nature to do the easy things first - the path of least resistance.
However, productive people do the tough stuff first and work their way to the easy things. That way, if you run out of time, all the productive activities are done.
8. Stay FOCUSED! Don't allow outside influences interrupt your progress on a priority activity. This is a busy world filled with massive amounts of information. It's easy to get distracted and procrastinate on important activities. If you can learn to stay focused, you will become a top achiever.
9. Every time you start something, check the priority level. Ask yourself, "Is this the most important thing I could be doing at this given moment?" If not, find one that is.
10. Just do it!!! Thinking or worrying about something won't do any good. Get started. Activity always brings satisfaction and results.
Procrastination kills more network marketing businesses than any other reason. Network marketing is a very simple business - talk with people about the products and business. Talk with enough of them and you will be successful.
Unfortunately, fear makes people procrastinate on contacting people.
Here are 10 ways to beat procrastination:
1. Have a purpose or why for your business and base all your goals on that purpose. To determine your purpose, visualize what you want your life to be like and how your network marketing business will contribute to that.
This picture will become your why.
2. Have written goals which you review EVERY day. Write goals for all parts of your life - spiritual, physical/health, family, social, business, personal, etc. Write short goal statements, as if you had already accomplished the goal. Review these every morning before you plan your day.
3. When you end the work day, clean off your desk, so you can start fresh each day. This will force you to file things that are important and to throw away those that aren't. It will also allow you to start each day without any distractions.
4. Start EVERY day with a plan of activities, based on your goals. By having a written plan of action, you will always know what to do next and are less likely to procrastinate.
5. If you have a large task, break it down into bite-size activities. If you are like most people you get overwhelmed with big tasks and will begin to procrastinate. If you break the big task down into smaller tasks you will quickly find that you have completed the larger task.
6. Prioritize your activities. In network marketing, your highest priority activity is speaking with prospects for your business or products/services. Don't allow yourself to get caught up in doing activities that are not productive - like filing, re-writing letters, re-arranging your office, creating new literature, etc. If you're not talking to prospects, you're not productive.
7. Work on the top priority activity until it is completed, analyze the rest of the activities, re-prioritize and start on the next most important. Again, it's human nature to do the easy things first - the path of least resistance.
However, productive people do the tough stuff first and work their way to the easy things. That way, if you run out of time, all the productive activities are done.
8. Stay FOCUSED! Don't allow outside influences interrupt your progress on a priority activity. This is a busy world filled with massive amounts of information. It's easy to get distracted and procrastinate on important activities. If you can learn to stay focused, you will become a top achiever.
9. Every time you start something, check the priority level. Ask yourself, "Is this the most important thing I could be doing at this given moment?" If not, find one that is.
10. Just do it!!! Thinking or worrying about something won't do any good. Get started. Activity always brings satisfaction and results.
Subscribe to:
Posts (Atom)