As I sat in a conference with my team to learn more about how to build a Home Based Business, I realized that there was a key difference between those of us who work the business full time, and those who wish they could... (more...)
Posts Tagged ‘success’
What Are the Successful Strategies in Network Marketing?
The majority of people in network marketing continue to search for successful strategies as they find traditional methods being taught are much too hard.
So why are we content on teaching strategies that have a known high failure rate? Are these people not cut out for Network Marketing, or is there something systemically wrong with our strategies? (more...)
What Does Success Mean To YOU? Message From The Top Of a Mountian
Business success and personal success can be measured in so many ways. We can easily get caught up in making goals focusing on numbers... When that's really NOT what drives us.
So take a moment and figure out what you REALLY want out of building a Home Based Business.
You just got to see what it means for me - Spending time with friends and family, and being able to live a (pretty cool) lifestyle...
So what Does that look like for you?? There's a whole lot of flexibility and opportunity in building a home business, but i want to challenge you to get SPECIFIC on what you want, then get focused, and make it happen.
Alright, that's it for now!
Let's make 2010 the best year EVER!
To The Top,
Taigh Smyth
Knowing the numbers. Get your business “paying for itself”
This is such an important aspect of running our business, but for some reason we often times skip this and wonder why our business is in the red...
What it means to know the numbers is to know what it's going to take to make your business profitable. In business this is call a "Breakeven Analysis" but simply put... it's how many units of X do you need to sell, to start making money.
Let's make sense of this for us Network Marketers. Often times there's bonuses for signing on a new business partner, but for the sake of simplicity lets just talk about our business in terms of breaking even on residual income ...
So what you need to do, is map out how many customers and distributors you need to have in your organization to make your business profitable.
It's actually pretty easy to do:
First- layout all of your expenses, the things that cost you money to run your business (on a monthly basis)
Second - Figure out exactly how many customers and distributors you need to make that same amount. Here you can run different senarios with a different mix of customers and distributors. If you're focused on building with distributors... then use that.
Why is this important?
Well, this is going to help you know exactly what you need to do to make your business "Pay for itself". Once you hit this mark - the products you purcahse on a monthly basis will be free... forever!
Also, you will know how to set your advertising budget. If you know how much a new recruit brings into your business, you will know how much you can spend on advertising to get a new recruit.
That will be your magic number... if you can break even or make money on the front end of your marketing efforts. as little or big of a profit it might might - keep the marketing going! It takes time to build the big residual income... but if you're profiting up front... it's all good.
This is just one piece of the puzzle. Make sure you fully understand the different options available to you to grow and expand your business. A good place to start is by picking up the 7 Fatal Mistakes of a Network Marketer... lots more valuable info in there that will help you avoid the fatal mistakes I've made while building my business.
Cheers to Development and Success,
Taigh
"The Personal Trainer For Network Marketers"
Is the Usana Compensation Plan Fair?
I just finished writing an article on, "Is the Usana Compensation Plan Fair? Detail Review Uncovers the Truth". And I think this can relate to ALL Network Marketing companies.
Reason being is that we really have 2 main responsibilities as Network Marketers - no matter how you break it down;
1) Connect the customer with the products.
2) Build a team of business partners who are interested in doing the same.
This it! and you know what, many people don't Focus on What it is that will actually make them money in their business. So it's not so much whether or not the compensation plan is fair. As I discuss in my article it is, and most companies are. Specifically speaking, Usana has a fantastic growth record... Here's a video on their compensation plan:
httpv://www.youtube.com/watch?v=mJ6Izy7PayA
httpv://www.youtube.com/watch?v=5wKB1O-U0F0&feature=related
But people run into trouble when they do not effectively work on their business.
So, if you know what makes you money in your business you will have an idea of what to do. Yes, there will always be the "ground work" to do - but you have to focus on business building activities if you want to see results.
Reach High,
Taigh
"The Personal Trainer For Network Marketers"
P.S. If you haven't already, make sure you check out my Free Report on The 7 Fatal Mistakes of a Network Marketer... know what to avoid to build a thriving Home Based Business business. Go Here Now: http://integratedmlmstrategy.com/
