Monday, January 21, 2008

Creating and Operating a Successful MLM or Direct Sales Home Business

A lot of people jump into Multi Level Marketing (MLM) or Direct Sales because it offers them a chance to have their own business at relatively inexpensive startup costs. Most MLM or Direct Sales businesses allow the would-be entrepreneur to come in at anywhere from $100 or less, to a few thousand dollars. Which is a drop in the bucket when compared to trying to start a franchise which can start off on the low end at around $75,000 or more.

In my case I had a burning desire to be my own boss. I literally HATED the thought of working for someone else. I loathed the idea of having to ask someone to take a day off, to live MY life. My problem was I had no product no service and no ideas. I felt trapped. Actually as a Network Engineer I had a service but it was not something that I liked to do, so I knew it would not be a viable business for me to promote. I remember going to the bank to see what type of loan I could get to start up a franchise. The loan officer was actually an acquaintance of mine from college. When I submitted my paperwork he looked at me like I was an alien and said... "Wow! You make good money why do you want to start your own business?" In my mind I'm thinking "Why do you want to have your life controlled by your manager, boss or whomever?"

Before I go too far off on a tangent let me get back to the point of the article...

I have compiled some tips that I have used to run my business successfully. Keep in mind there are many schools of thought on this subject. I have listed below some things that have helped me maintain my focus and operate successfully.

1. Do your Due-Diligence!! If your planning on starting a franchise, or joining an MLM or doing Direct Sales make sure you research the company's track record. Are they reputable? How long have they been in business? Are there any lawsuits pending on them for false claims or bad business practices? What kind of support will they offer you in running your company or selling their product?

2. Know your product and be proud of whatever product or service you are providing. You have to be willing to stand behind your product. Remember, when your doing your own business you don't have that huge corporate company to hide behind. If your offering junk people will be linking that junk directly to you personally. It is hard to overcome a bad rep.

3. Run your business like a business! I cannot stress that one enough. Many people doing MLM or Direct sales don't often achieve success because they do not put enough work into it. Act as if you are an employee of yourself, then think.. Would I pay myself for the work and effort I put in today? If you were working a 9-5 would your boss tolerate the effort or amount of work you did? This is very important in the beginning stages. Once you get your business up and going, you can then put it in to cruise control.

4. Stay Excited! If your not excited about what your doing odds are you will not stick with it long enough to achieve success. When most people don't see that immediate success they lose the excitement that they had when they first started, with that they lose focus and desire then end up giving up.

5. Know what you want to accomplish every day. Write your goals for the day down if you have to. For example...

a. Ship orders.
b. Place 3 ads today
c. Send follow up emails to leads I spoke with yesterday
d. Call 30 leads
e. Come up with 2 new ways to market my product/service.

6. Look towards the future, vision your success. Some things that may keep you focused are... thinking about what you will do when you achieve mass success. Think about what kind of house you will buy. Will you go for the Ferrari or the Lamborghini, or whatever your dream car is. Also think about the people in your life you will be able to help. Will you pay off your parents home and your kids and school loans?