In writing this article I am going to assume that you already have at least a brief understanding of what network marketing is and how it is related to a home based business. I am also going to assume that you are looking to start a network marketing business. If you are already involved in a network marketing business then I will leave it for you to decide if you would like to take this information and use it for your advantage. Either way you will find some interesting information here.
Ok, so you have decided that you are interested in starting a home based network marketing business. I hope that your interest did not lead you to go and join the first business that you came across. There are literally thousands of different opportunities out there on the world wide web. There are also several different things that you should consider before joining any of them. Here are just a few things that you should look into.
What are the minimum Expenses involved?
First of all I want you to take note that I said expenses involved and not xost involved. I did this to put you in the mindset that you are looking to run your own network marketing business. To some these two words may mean the same thing, but to me an expense is something that you can write off come tax season because you are running a business. With that said, know how much that you can commit to spending each month as an expense currently without regards to profit from the business. I say without regards to profit because I see so many people including myself in past endeavors getting into a business with an expense higher than I could commit to the following month.
I recommend picking a business that meets your current situation financially that you can commit to long term with a mindset that this is My business and not with the mindset that I am trying this business. No matter what your current situation financially there are network marketing businesses you can get involved with on the net ranging from $0 to $thousands that you can commit to long term. In short, don’t get involved with a business that you can’t commit to long term currently. Pick One, Commit to One, and Focus On One until it is running on auto pilot then consider building another income stream.
Have the Proper Mindset it Takes to Be Successful
Having the proper mindset is a key ingredient of building a successful home based business or any type of business. This mindset goes far beyond building a business though. Take a good look at anything you have been successful at in your life. I mean anything that you have accomplished that made you happy. Whatever it may be, I bet that you believed you could do it before you even started. I bet this belief was so strong that no matter what challenges arose that you overcame the challenge. You may have had some negativity come along and my guess is that you ignored it or overcame it with positive thinking and kept focusing on what your goal was.
You need to have this same type of mindset and focus in building a home based business. Treat your business as a business and not a hobby. Do your business everyday knowing that you will face challenges and negativity along the way. You must totally believe in what you are doing and be determined to be successful. If you are having trouble getting the mindset that you are going to build a successful online business then I suggest doing Personal Development and finding a Mentor. I can help you with this.
Researching the Network Marketing Company to Join
Now you have decided what monthly expenses you can commit to each month and have also committed to being successful in a home based network marketing business. The next thing to do is start doing research to find the business that suits your situation. You also want to research a companies history. You can start by researching different companies minimum cost to be involved. Find the ones that fall within your current budget. Then take these companies and start researching them in more depth.
1. Research the companies history.
Is the company a new startup? If it is then you may want to consider the fact that most companies don’t exist past the second year. I recommend finding a network marketing company that meets your monthly expense budget that has been in business for two years or longer. You should be committed to this long term and it is better to be a part of a company that has already proven it has the proper management to be here long term.
2. Research the companies product.
It is important that the network marketing company you choose to build a home based business with has a product that you believe in. If you don’t believe in your company and its products, your prospects or customers will be able to see right through this over time. For example if your company is primarily into personal development and learning, but you never plug into what your company offers then eventually your downline or customers would question your leadership. Keep in mind that to be successful in network marketing you have to be able to ad value or benefit to people. If people don’t see that you are getting value or benefit from your product why should they believe that they would.
3. Research the Marketing Systems Available for the Company.
Most companies have their own marketing system which everyone who is a part of the company can use, however many people create their own unique marketing systems for the company that are better suiting for a specific type of persons needs. These people then make the marketing system they created available to all people who are a part of their team and sometimes make the system available to anyone who is a part of the company they created it for. Some times you may find the company that you want to join, but then research joining the right team who has a marketing system in place that you are interested in. I do recommend finding a system that uses Attraction Marketing in some form to build the business. This marketing method will have prospects letting you know they are interested in what you offer before you contact them. The prospects will literally be contacting you in some form first. I like a system where a person actually calls me to ask questions or they join the business before I contact them myself.
Other marketing systems may require you to cold call people to find qualified prospects. Who would you rather call? A person who has already shown interest to you or a person who has no idea why your contacting them.
4. Research Your Sponsor and Team.
Believe it or not, It is possible to have the wrong sponsor or be a part of the wrong team. You want to build a Successful business correct. Well which sponsor and team do you think is going to help you build a successful business?
Sponsor A: Who is very successful and helps lead their team in the right direction. Take note that for this person to reach the level of success they are at, It is directly related to them helping people on their team reach a level of success. This person understands that being successful in Network Marketing is all about helping people. This sponsor is excited to call his downline, take calls from his downline, return emails, and give the support people need. This sponsor is willing to share everything they know and not hold back any secrets. This sponsor gives value and enjoys helping others.
Sponsor B: Who may have some success in getting people to join their business, but does not help these people to build a business. This sponsor is not interested in helping people and thus his or her business may have little if any success long term. This type of sponsor may have a ton of knowledge to offer, but they are not willing to share it. This sponsor may even be a victim of not having a good sponsor. It is unfortunate that this type of sponsor can put a bad name on a Great company.
So how do you find a Sponsor A? Well while your searching I recommend looking at what the potential sponsor offers in their advertisements or personal pages. Look to see if this person offers an email address to email them to ask questions. If they do then send them an email and see if you get a response back. If you do then this is a good sign. I do highly recommend using a free Gmail email address in doing so.
Research the potential sponsors name on Google and you can quickly learn how successful this person is. You can also get a real good feel for how knowledgeable he or she is in building an online business.
See if you can find a phone number or Skype to try calling this person. If they actually answer the call or return your call this is a very good sign that they are interested in helping others. This means they take their business very seriously.
Keep in mind though that if you want to be very successful with your home business you will want to learn from your sponsor and also become a type A Sponsor yourself. You may already have some of these leadership characteristics, but you can always improve your skills through personal development and having a great Mentor. In finding a good sponsor you will also find a good Mentor.
5. Research the Companies Market Area.
If you are going to do business from home then I highly recommend finding a company that offers a large market. Building an online business is more rewarding the bigger your audience that you can market it to. Look for a respectful company with a good history that offers a global market. There are companies on the net that have been going strong for many years that have a global market.
Exercise Your Mind
No matter what online network marketing business you are or get involved with it is important to exercise your mind. Plug into as much Personal Development as you possibly can. This will help to improve your leadership skills, marketing skills, and help you live a better life all around. Personal Development will help you in staying positive at all times. There are also companies out there where the product is personal development. As a matter of fact, it is the main focus of the company I am involved with. Learning new skills is a huge step towards having new success.
It is true that Success = Skills X Action
After you have picked a networking marketing company to get involved with to build your online business or if you are already involved with a company it is important to stay focused. Do not get caught up in jumping around from company to company trying to find the one that will give you big rewards quickly especially if you have had no previous success with network marketing. I learned this the hard way like so many other people have. This is the main reason why I want you to pick a company that is in your budget currently so that you can stick with it long term. Do not try to build 5 different companies at once. Pick one to build and focus all of your efforts towards that one until you have reached a point where it continues to grow whether you work at it or not. When this happens, then if you want to you can consider building another business. There are only so many hours in a day to work on your home business. Focus the hours on building one first then move on to building another stream of income.
You also need to be focused so that other ads that you see from others have no affect on you. Train your mind to block these out. This also is true in learning a new skill. Learn the skill you are working on to the point where it comes natural to you before plugging into a new skill. Your rewards will be much greater by keeping this focus.
I have covered many different things to consider in starting a home based business with network marketing or helping with your current one. I believe that anyone can be successful in network marketing if they get the right education, have the proper mindset, join the right sponsor, and do research.