You’re looking for a business opportunity to be your own boss and earn unlimited income, however you’re not yet in the financial position to leave behind the steady paycheck and health benefits you’re day job offers. How long should you wait before you take charge and start your own business?
By participating in network marketing (also known as multi-level marketing or MLM), you can begin today — and still keep your day job! The low initial investment (ranging from $25-$1,000, depending on the company) and the freedom to work out of your home and set your own schedule make network marketing the ideal vehicle for starting a business part-time.
The challenge, however, is knowing how to build your MLM venture to a level at which you can leave your salaried position to devote yourself full-time to pursue your entrepreneurial dream. When the bulk of your day is spent on working for someone else and fighting rush-hour traffic, where do you find the time and energy to grow your business? What can you do right now — while working a regular job — to take your MLM business to a full-time level?
SEEING THE OPPORTUNITY
Begin by cultivating a success. Winston Churchill once said, “An optimist sees an opportunity in every calamity; a pessimist sees a calamity in every opportunity.” The problem is that many aspiring entrepreneurs view having to work for someone else as a “calamity.” They dread going to work, thinking, “I can’t wait till I leave this place and be free!” Unfortunately, because of negative attitudes, individuals overlook the very opportunities and resources available to them in the workplace which would allow them to achieve their goals faster.
Brainstorm ways that your present job can actually benefit your MLM business. For example, when you arrive at work, be observant!. Each person you work with is potentially a customer — or even “business builder” — for you. Imagine! You have the opportunity, on a daily basis, to develop relationships with these “prospects.” Then realize the number of people each of your fellow employees know. (Experts say that every person you meet knows at least 250 other people.) Talk about an ideal starting point from which to build a lucrative client base! Opportunities abound, when you’re looking for them.
Once you’ve committed to turning on an “opportunity” mentality, your next step is to write down your goals and design a strategy for achieving them. How much income do you require from your new business to be comfortable replacing your current salary? Write that number down. Next, determine a deadline as to when you want to accomplish that goal. With your target in sight, outline the action steps you need to take in order to “hit the mark” within your time frame.
After you’ve set your goals, share them with people who trust you, believe in you, and want you to be successful. This can include the person who sponsored you, colleagues, your spouse, or friends. Ask them to help you by holding you accountable for achieving your goals and remind you, when frustrations and disappointments occur, of the ultimate freedom you’ll gain by building a successful business.
MAXIMIZING YOUR TIME
Even though you’re spending much of your day working for someone else, you still have opportunities to grow your business. The key is leveraging that time to achieve your goals. Here are five tips to help you make the most of your time:
1. Determine what time-management system works best for you, and use it. Don’t leave your business growth to chance. If you’re going to succeed, you need to plan and be proactive.
2. Plan on a weekly basis. How many hours this week do you intend to devote to your business? Do you need to get up early, stay up later, or both?
3. Use your lunch time and other scheduled breaks to build your MLM business. Meet prospects for lunch, write follow-up notes, or study your company materials — any activity that will help you take your venture to the next level.
4. Stay positive. Negative thoughts waste time and blind you to the business-building opportunities around you. Focus on your goals, not your setbacks.
5. Keep a daily record of how you’re using your time each day. This will show you where you can improve on your time-management.
Remember, your time is limited, however, that’s no excuse for failure. You have the time you need to make your business succeed, so make the most of it!
LEARNING THE BUSINESS
As in any business endeavor, ignorance is NOT bliss. What you don’t know CAN hurt you. Therefore, invest time to learn all you can about the network marketing industry and about company. Read your particular books like Leonard W. Clement’s Inside Network Marketing (Prima Publishing, $14.00), Richard Poe’s Wave 3: The New Era in Network Marketing (Prima Publishing, $14.95), The Greatest Networker in the World (Prima Publishing, $12.00) by John Milton Fogg, the founder and chairman of Upline Magazine, and How to Make Big Money in Multi-Level Marketing (Prentice Hall, $14.95) by David Roller. Listen to tapes and attend training meetings. Call your sponsor to get your questions answered.
Don’t waste time and energy trying to figure out the business on your own. By studying what the experts have to say, you’ll shorten your learning curve — and the time it will take for you to go full-time in MLM.
MAKING THE TRANSITION
How can you tell when you’re ready to “cut loose” from your day job? The first key is patience. Wait at least until your business income is close to or on track to replacing your current salary. Not having sufficient income will put an unnecessary strain on what could be a successful business in the future.
Secondly, make sure you have at least three committed, income-producing leaders in your organization. This way, you know that you have assurance that your business will continue to grow.
And finally, trust your intuition. You’ll know when you’re ready. Your commitment to success and your work ethic will be so strong that you’ll feel momentum driving your business to a “full-time” level.
FULFILLING YOUR DREAM
While working 9 to 5, plus long commutes, leaves limited time to devote to your business, don’t let that hold you back from a better future! Set your MLM business goals today and outline the steps you need to take to achieve them. Then GO FOR IT! When you commit to do whatever it takes to succeed, you’ll fulfill your dream of having a lifestyle of time and financial freedom. Begin today for a better tomorrow.
“What’s Holding You Back?”
One of the keys to taking your MLM venture from a part-time activity to a full-time business is to identify the obstacles that could keep you from fulfilling your dream. Here are seven to beware of and what you can do to avoid them:
1. Unclear vision. Define EXACTLY what you want and outline the steps that will take you there.
2. No business plan. Remember, despite the extremely low initial investment, it is a bona fide business. Therefore, don’t treat it like a hobby. Design and implement a business plan that will keep you on course toward your goals.
3. Half-hearted commitment. If you take a “try-and-see” approach, you may abandon ship too soon, — just as you were about to reach your goal. Resolve to “stay on board” for the long-haul. You’ll arrive at your destination in due time.
4. Focusing on busy work instead of profitable activity. Establish your priorities and make all your decisions in light of them.