Monthly Archives: February 2014

5 Questions You Must Ask Yourself About Your Network Marketing Home Based Business

My Internet marketing mentor offered the following five questions to me, in an effort to illustrate to me whether or not I was running an amateur or professional network marketing home based business franchise. At the time, my answers inspired neither him nor me. I suggest taking a hard look at not only how you are operating but how you’ve been taught to operate.

1. Consider your network marketing business or home based business franchise, how would you characterize your lead generation and your conversion process?

Does your entire marketing strategy consist of word of mouth from you alone? Is your one and only source of leads rooted in how many people you can personally speak with? If that’s the case, I’m gonna go way out on a sturdy limb here and guess…your broke. Or at least, your business is not making much money.

Perhaps you have some worker bees also advertising and promoting for you, but even so, just human to human word of mouth advertising is extremely limited, and not automated.

“Automated?”, you say?. That’s right. That’s how the pros do it. A completely automated sales funnel which sells, tells, and sorts your prospects for you 24 hours a day, 7 days a week while you sleep, eat, or are on vacation. Pros have at least 5 predictable streams of traffic.

What are your conversion rates when you speak with your prospects? How often does a lead become a paying customer or distributor? Professional conversion rates may shock you, they convert around 80%, do you think their leads are highly targeted? You bet.

Now I want you to sit back and calculate how much income you would be generating if you were converting 80% of your leads to sales. Yummy? I thought so.

2. How many different products and services do you have to offer your valuable customer? How will you ever create repeat customers if you only offer one product or service?

No matter how spectacular your product or service is, the real wealth comes when you have many follow-up sales to the same customer. I’m not talking a simple ‘autoship’ here either, I’m talking additional complementary products.

95% of your prospects will not be interested in your primary offer, so are you going to give the other 95% of your prospects offers that they want, or just say ‘bye bye’ to them forever?

Offering 2-10 products is middle-of-the-road, but a pro marketer will have at least 10 products to offer. Building a strong relationship with your prospects will allow you the option to continue to make sales to them over and over, because they will know, like, and trust you.

3. How often do you communicate with your prospects and your customers?

If you are going to say ‘once’, it may be time for you to admit defeat and go manage a fast-food restaurant, you know, for ‘security’. How often do the pros communicate with their people? Usually more than once a week. If you are right now sitting their doubting or judging that fact, then again I offer this: ‘you’re broke’.

4. Is your business growing at a rate of at least 35% and as much as 100% per year?

If this is your first year then please do yourself a favor and consistently learn the trade, and learn the industry. After that you are out of excuses and should be experiencing tremendous growth or else there is still something you don’t know. Leaders are learners.

5. Here’s a biggy: What is your end goal for your network marketing business or home based business franchise?

No idea whatsoever? Hmm, not a good answer, but take comfort in the fact that 95% of networkers will have the same answer. Here sadly, is one of the most common results for people who start a business with no idea how they are going to finish: They make no money, create more debt than they started with, and then they give up and label network marketing and home based business franchises as ‘pyramid schemes’. Obviously, because they are geniuses.

You could also be planning on operating the biz so long as it makes you money and then quit. Okay, I hope you’re completely in love with your business and products they offer. You may get ultra-bored and you’ll also be limiting your income and wealth potential.

Highly successful people start businesses with the end goal in mind. Many start and grow a business with the intention of selling it so they make the biz as valuable as possible to its customers and future buyers.

Have you heard the term “shoot for the stars, and you’ll at least hit the moon”? If you only set easy to achieve, reasonable goals, then you will have consistently mediocre results. Set mind-boggling goals that would make your eyes spin around in your head if you reach them. Then if you fall short, you’re still looking at admirable and fulfilling success.

The Time to Start One is Now – Home Based Business

Is the economic news lately making you a little nervous? Maybe a lot nervous. Seems that every time you turn on the radio, TV or check the news on the computer there’s a new chapter added to the economic crisis.

You can’t turn on the TV, radio or internet these days without hearing talk of lay-offs, downsizing and rising unemployment. This has created the perfect storm for home based business owners. Now, more than ever, is the time for you to create your own “Economic Stimulus Package” to protect you and your family from the roller coaster that has become this crazy economy.

Now is the best time to take control of your financial future by either starting your own home based business or really working your business if you’re already involved in one.

Because frankly, if you’re waiting for for some kind of miraculous bailout, it will be a long time coming.

Here are some things that make now the perfect time to venture into a home based business of your own:

Baby boomers are coming of age, retirement age that is. And those who aren’t quite there yet are sure thinking about it. If you have a 401K or IRA, have you looked at it lately? If yours is like mine,it ain’t pretty.

Wall Street’s ups and downs(mostly downs) the last few months has lots of folks wondering if they can retire when they’d planned, if at all. A very large segment of the population have not prepared for their “golden years” believing Social Security will keep them all warm and toasty after they retire. Those folks will need the funds to keep them comfortable without having to flip burgers at the local fast food joint.

You can show them a better way.

Generation X and Y (will there be a Z?) is looking for a better way to earn a living. These are the twenty and thirty somethings that have become dissatisfied with working a regular 9 to 5 job because they know there’s more to life than showing up to work on time and putting in their eight hours at something that’s not fulfilling for them.

This is the segment of the population that watched their parents work long and hard at stressful jobs. They realize there’s more to life than just work and they want to make a contribution that’s meaningful (and make a good living at the same time). They’re tech savvy, smart and can make things happen.

People are scared. They’re worried about the economy and you can offer them hope. By starting your own home based business in direct sales or network marketing you can offer a solution to those wondering if they’re even going to have a job in the near future.

Everyday you hear stories of all the real estate agents, mortgage loan officers and construction workers that have been effected by the housing slump (myself included). You can show all those folks how to supplement or even replace their decreased paycheck.

Starting your own home based business only costs a fraction of what starting a traditional brick and mortar business would be. Where else but a home based business can you make such a small investment (usually anywhere from $50 to around $1000) and have the potential to make a six figure residual income?

Is there work involved? Yes. Will it take effort and commitment? Absolutely. Will it happen overnight? No, but nothing that’s worthwhile and lasting ever is.

What I can tell you is this,you can take charge of how you’re making money. You can flourish in this economy amid all the doom and gloom. You can be free to spend time with your family, take that dream vacation and have that beautiful home you’ve always wanted.

The sky is only falling for those “chicken littles” that aren’t willing to take a chance on themselves. Create your own “Economic Stimulus Package” with your own home based business starting today.

Misconceptions of MLM Home Based Business

Building a MLM home based business or leveraging on multi-level marketing (MLM) is a very popular type of marketing method in the field of business. However, given dubious practices that were exercised by few people who are in MLM, over the years it has gained a less than attractive status as a marketing strategy during recent years.

Multi-level marketing is one of the marketing strategies that is employed in the area of home based business. With an MLM home based business, an entrepreneur will sell goods and services to the target customers. The beauty in having a MLM home based business is that it enables you to have a luxury of flexibility in work schedule and on what products or service you wish to offer to your potential buyers.

Company goods, which you can sell, will range from the general commodities such as home decorations, storage containers to personalized products like vitamins, food supplements, clothing, beauty and cosmetics items and in recent times the e-learning portals are gaining wide spread popularity where people get education from the comforts of their homes.

Setting up a MLM home based business is straight forward and easy. Ask anybody who are engaged in multi-level marketing and they may refer you to an appropriate leader you can talk to about your business. Probably your friends, relatives, and neighbors are the members of a MLM company since this marketing method is very prevalent.

In addition, you can search companies that are involved in MLM by using Internet. There is a high probability of finding websites where information of how you can be a part of MLM is available. Some personal websites might be setup by people who are MLM company leaders and these platforms are commonly known as blogs.

Home Based Business Marketing

Having a solid home based business marketing plan or strategy is a major key to your success. Without a well laid out plan, you can rest assured you will end up anywhere except where you “thought” you would land!

If we’ve read it once or heard it twice over its, “find a mentor (teacher) and duplicate their success”. Sounds simple enough but finding the “right” individual to learn from can become a challenge in itself. In order to create a home based business marketing map or guideline, you must first know your desired outcome. Along with that, know who your target audience is to be and tailor your home based business marketing plan to “fit” their needs. A good home based business marketing plan offers a solution to whatever the need or challenge is to your prospect.

I would say the most common first question is “where do I start”? Good question! The answer(s) may be many but if you start by looking at your preferred outcome or end result and work backwards, it may help in solving your first dilemma. For example, if you’re choosing to build an Internet business, it makes sense to “start” on the Internet. Where to jump in and how to begin is usually the initial stumbling block for home based business marketers.

It stands to reason at some point (usually early on) you’re going to need a website. So START by creating a website (or webpage), even if it’s a simple “free” site from myspace.com, yahoo or any of the other thousands of options available to you. Along with a website you will want an email to use for corresponding with others, whom you wish to connect with in your business venture.

Many home based opportunities and/or network marketing companies offer a turnkey or self-replicating website, along with an email address and many other marketing tools upon joining their program. Many of these home based business marketing tools will consist of auto responding messages, banner ads and more, all ready to use right at your finger tips. Most will contain a guideline on how to use the tools and get the best use from the pre-designed company approved material.

Home based business marketing can be done on a shoestring budget or can become an expensive ordeal! Again, it greatly depends upon who is your teacher or from what credible source you are patterning your efforts. For example, you may read or hear that running a solo ad is a great way to develop traffic to your site and get more people interested in your business. Determining “where” or with “whom” to run your solo ad becomes the key choice! A mentor can tell you how they did it or better yet, how NOT to do it!! Saving you time and money with a particular home based business idea.

Keep in mind that home based business marketing is kind of like flying a jumbo jet from New York to London. The pilot knows the desired outcome and makes the necessary adjustments along the way to achieve his predetermined goal. He pays close attention to his instruments (gauges) and “listens” to his superiors on the ground, that give him specific instructions that enable him to fly the plane more accurately and on time. Home based business marketing is similar in that, you must be prepared to may adjustments to your marketing efforts along the way and pay close attention to your gauges (such as, monitoring your clicks or hits), which may tell you to alter your course one way or another. All while “listening” to your mentoring source to help you “fly” your home based business marketing venture more accurately and arrive at your goal as planned.