Multi level marketing (MLM) is quite a popular form of marketing technique in the field of business. However, given the dubious practice exercised by some people who are into MLM, it has gained a not-so attractive reputation as a marketing strategy during recent years.Multi level marketing is likewise a technique employed in the area of home based business. Under an MLM, a home based business operator can sell goods as well as services to its target customers as provided by the participating companies. The beauty in having a home based business that engages in multi level marketing is that you have the luxury of flexibility in your work schedule as well as on what products and/or service you wish to offer to potential buyers. The company goods that you can sell range from general commodities like home decorations and storage containers to more personalized products such as food supplements, vitamins, clothing as well as beauty and cosmetics items. There are currently two types of MLM home based businesses ? the legitimate and the illegitimate. Certainly, you would prefer operating under a legitimate business where you can expect returns from your initial investment.Setting up an MLM home based business is relatively easy. Just ask anyone who are engaged in multi level marketing so that they can refer you to the appropriate person you can discuss your business with. Most likely, your relatives, friends, or neighbors are members of an MLM as this marketing technique is still very prevalent. You can also search the companies involved in MLM using the Internet. There is a high probability of finding their web sites where information of how you can be a part of the MLM will be available. Personal web sites may likewise be set up by people that are MLM participants.By employing all your skills and abilities in marketing the products and services available to you, an MLM home based business can work to your advantage.
5 Secrets to Starting a Successful Home Based Business
Welcome to your financial independence and freedom. I worked for many years as a slave to my job. I was one of almost 1,000 lawyers in an international law firm. The day I made the transition to have a home based business was a turning point in my life. Today, I exclusively work from home. I work a fraction of the time I used to work. I am much happier and much more financially free. I would like to share with you a few secrets to help you become successful in your home based business.Many people who decide to start a home based business are still working full or part time for their other “job.” You can still succeed and ultimately transition to exclusively working just your home based business if done correctly. Others are ready to focus on their new home based business full time. Either way, there are some secrets to setting up your home based business so that it will be successful and financially rewarding from the get-go.Secret #1: Organize Your OfficeOrganization and success are directly linked. Make sure to select a room in your home specifically designated to your home based business. Setting up a work zone will minimize distractions and establish a boundary for those who know you work from home and feel they can stop by or call you in the middle of the day for personal issues. I also recommend having a separate phone line designated to your business calls and one for your fax machine. It is not costly to set up an additional line or two and it is all deductible as a business expense. You should also start a filing system right away. Letting stacks of paper accumulate and postponing a good organizational filing system will hinder your success. If done correctly and from the very beginning, you can avoid needing to hire a file person or secretary until your businesses growth demands it and can afford it.Secret #2: Get a Website or Internet PresenceSelecting a home based business that has an Internet focus or presence is important in today’s market place. Purchase a domain name and set up your website right away. Web and Internet based home based businesses are the new trend in business. In order to capitalize on this movement and on a very lucrative sector, it is a good idea to have a business or product that can be marketed with a website and on-line. This allows your client base or customers to learn about you and find you easily. It also expands your client base beyond your local market. Gone are the days of opening the Yellow Pages. Most everyone finds what they are looking for today by searching on the Internet. According to Forrester Research, ecommerce will be a $329 Billion industry by 2010. Seize on it with an on-line home based business!Secret #3: Make a ScheduleThe great thing about a home based business is that you do not have to work any set hours or days. However, you should make a schedule of both when you plan to work and what you plan to accomplish in that time frame. Task lists and to do lists are a signature of those with successful home based businesses. Having structure and a schedule helps you to be disciplined. It also teaches others to respect your work time. Creating a somewhat predictable work schedule will go a long way towards your success.Secret #4: Have a Calendar, But Just OneOne of the best things about working from home is the flexibility to break to attend your child’s school play or sports event or take the day off to golf. It is best to merge your personal and business calendar with a home based business so that you do not double book and to keep things simple. No need to check more than one calendar especially now that you don’t have a boss who you need to appear to be working for. Initially, I tried keeping one calendar for my legal events (court dates, depositions, etc.) and one for my personal life. It resulted in a few instances of double booking and the headache and waste of time involved in having to consult and fill in two calendars.Secret #5: Get Help When You Need ItPart of the beauty of working from home is having the flexibility to work when you want. If you get into the habit of working all the time and assuming all the tasks on your own, you will have defeated that purpose. Thus, consider outsourcing much of your work, projects, and errands (bill paying, appointment making, etc). I learned this best from Timothy Ferriss in his book The Four Hour Work Week. Pick up a copy from a local book store or your library. I recommend the CD version so you can listen while you exercise or drive in the car. He is very funny and ever so practical. He will give you great tips on hiring good, inexpensive help in India and other over-seas places. Also, learn to say no. When your plate is full, you are not doing anyone any favors by accepting more work. This is true even if you are being asked to be the room mom, coach your son’s soccer team, chair a community event, or take on another project you can’t possibly take on. Know how much you can handle and learn to say no. If you can only fit ten tasks on your plate and you take on eleven, one will slip. Avoid that from the outset.
A Very Motivating Article for Starting Your Business
Ralph Charell said “Avoid the crowd, do your thinking independently, be the chess player not the chess piece.”Would you prefer to?Be your own bossEscape 9-5Work for yourselfBe the chess player& Be the producer of products and provider of jobs.Well, it’s a fact that we spend nearly 35-40 years with 40-50 hours each week in a job. We live from paycheck to paycheck without much flexibility in terms of freedom and financial betterment and often our active status of a job brings cash flow to us.That is why it makes sense. Instead of living flat broke from paycheck to paycheck and without much freedom and flexibility why not invest your time and money to start a business of your own.Before we get ahead here is an important question:What holds people back from launching a business?Answer: Fear of failure in terms of financial loss and lack of courage to shoulder up the responsibility.These fears are valid because research by the U.S. Bureau of Labor Statistics shows that nearly six in ten businesses shut down within the first four years of operation. Another research indicated that 29% of new businesses never make it into their second year and 65% of businesses close their doors within the first 5 years. The ratio may vary from country to country but often failure percentage is quite higher.But contrary to the above research, there is another research that indicated that it takes 3-5 years for you to realize a decent profit from your business. People quit because they not persist longer and they blame market and other circumstances. It’s very surprising that more people want quick profits and are not willing to give the persistence test. And, in the process they lead themselves to the path of failure and frustration.Well, how do you begin your journey toward opening a business of your own? The following steps are foundational keys to business success:IDEA: The first step is an idea and your idea should not be completely new, it can be just an old idea with some little improvement. If you look businesses around you’ll find much to learn from them.Where to look for ideas?Russell Conwell said in his book ‘Acres of Diamond’ to look for ideas under your own feet, because it lies in your own industry, experience and background and many business experts have stamped Russell’s opinion with strong authenticity. You may also connect your experience in one industry with another industry to borrow the ideas or to create something entirely new for emerging consumers.What if someone is rejecting your idea?Frederick W. Smith who in 1962 came up with an idea for overnight delivery. He went to university professors for a feasibility study and they rejected his idea as they thought no one will pay more when U.S mail is available”. Despite of rejection he invested in his idea time and money and went on to become a hugely successful business tycoon.Capital:The second thing to start your own business is capital. It can be your own money or you may borrow. As usual it’s advised to start small and grow gradually. Note it down that: Google started its company with just few computers; Packard and Hewlett established Hewlett-Packard (HP) in Packard’s garage with a low initial capital investment and Walmart started by Sam Walton as a small store in Bentonville. Also not to forget the rags to riches story of Dhirubhai Ambani.Sales:Although after idea and capital there are certain other things that are important to start a business such as business consultancy, getting a license to start, determining business location, etc. but the ultimate thing is ‘SALES’. Business research consultants summarized their analysis and decades of research in two simple statements which are:Businesses succeeds because of high salesBusinesses fail because of low salesYour job as a business owner is to prioritize sales over all other activities.Conclusion:Consider that the market is becoming too competitive, unemployment rates will rise, recession and inflation is eating our money and having a running business will safeguard you. Think to give 3 years for testing a business possibility from 35-40 years of service so that you work on our own plans instead of your employers’ plans.David Rockefeller said “Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were”.