IT IS A BUSINESS
As the need for additional income increases so is the number of offerings promising easy and quick dollars. The area that I want to focus on today is the Multi-Level business. Most offerings are legitimate; but before you send in your money and become a distributor check to see the financial stability of the firm. Today’s easy access to almost all information makes this an easy job.
In most offerings there is a story of participants who have achieved dynamic results. Yes, the story is more than likely true, but it does not portray the majority of the participants.
When starting your selection process, first make sure that what you will be selling is something that you personally believe in. Don’t just select something because of the income promises. Promoting something that you don’t believe in or don’t have a passion for usually results in a failed effort.
Next you should survey your target market and determine if your product/service is something that they would purchase. The best way to do that is to personally ask. It may challenge your comfort zone to make a cold call, but remember, you will have to do that when you are running your own business.
If after your due diligence you still want to make this your business venture, then you have to understand that you will be running your own business and that all the components that make a business successful have to be implemented.
Some of the most important responsibilities include: accounting, legal, insurance, marketing and operations. Within these areas, for example marketing, many other components exist such as: data base management, social media, advertising, logo and marketing material design. Being a member of a multi-level process does not mean that you should not have a legal business entity. Make sure you check with your attorney to see if a LLC or other business structure is best for you. Accurate financial record keeping is critical for tax purposes and in the case of an IRS audit; adopt a system such as Quick Books.
I did not mention the necessary planning process for the overall business, its components and especially in the marketing department.
Remember, anytime you are responsible for the creation of your own income, you become a business owner and have to master all the components necessary to grow a successful business.
Strength doesn’t come from what you can do. It comes from OVERCOMING the things you once thought you couldn’t.
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