Don’t Short-Change Your Start-Up!
‘Successful Network Marketing’ depends upon ‘Being Realistic’ with costs!
My first thoughts about success in network marketing was I don’t have to spend too much money.
I remember when I got started in network marketing way back in 2003 was I for a moment thought gosh isn’t this home based business expensive. I have no clue that success in network marketing depended upon being cashed up before you go into business.
I found that not only did I have to buy an initial network marketing business inventory costing around a thousand dollars but on top of that I also had to buy a regular monthly spend of a few hundred dollars each month. In fact it was and still is around the $330 to $400 mark each month. This works out to be approximately $80 to $100 a week as my business rent. Today I know that a successful network marketing business needs a budget. learn More!
Is The Initial Start-Up An Expense or Capital Cost In Creating A Successful Network Marketing Business?
Creating Success In Network Marketing: Back then I felt it was a bit hefty as the home business had just only opened and I had not made a cent on day one. Why should I spend all this money just to get started. In-spite of owning businesses for over 20 years I was still thinking as an employee. How many of you think and feel this way right now? Well success in network marketing depends on an initial capital investment too. 🙂
I just can’t believe I thought like that back then. Business people know that it does take money, time and effort to make a business work.
My mindset was an employee in spite of being self employed for over 20 years. I was a glorified employee disguised as a business person. I was self employed back then. I had bought myself a job. I was not an entrepreneur. I had to change my thinking if I were to see any sort of success in network marketing.
Eleven years on in to my home business the rent has not gone up a cent yet my income is now in the high 5 figure a year region. Imagine earning over $70K a year plus and your rent is under $4000 a year. This is less than $80 AUD a week for a income like this. By the way I get products for that amount that my customers actually take off me. So in reality I am not out of pocket at all. 🙂
Considering when back in the day prior to 2003 I ran restaurants and coffee shops and the rent itself was around $2000. Not for a month but it was $2000 a week. All I received was a rent payment slip to say I had paid my rent of $8000 a month. On top of that I paid overheads such as electricity, shopping center fees that amounted to another $2000 a month. Can you imagine that!
Non of these worries when you want success in network marketing :)!
Costs of Running Traditional Business!
Successful network marketing strategies: I then had to go out and find business or customers to pay for the …
- next month’s rent,
- pay the staff,
- pay the bank loan which itself was around $4000 a month,
- pay for stock,
- pay for advertising,
- pay for the electricity, water and gas, and
- if I was lucky I had some profit left to feed my family. How many of you can relate to this.
Do you know of any family or friends who are going through this right now. Its very stressful. It can quite often break marriages if not handled well.
Have you been here before…
Just imagine even before you actually brought in money you had to pay the shop owner the rent. And that was whether I ran the business or not. Can you imagine that. (:
Next time you walk into a restaurant or coffee shop think for a moment what those poor people are going through to get that cup of coffee on your table. They take all the risk every day for you. Be a bit more kind to them if they may have slipped up or forgotten your order. :).
Network Marketing Success Tips: Is Network Marketing A Better Deal?
Success in Network Marketing! Now do you see if I have a good deal or not here in my network marketing business? Isn’t success in network marketing so much easier. Can you see that as my incomes gets to be over 6 figures a year and possible multiple six figures a year soon the rent will ALWAYS be the same. This will help me to become more successful in network marketing.
This is why I like network marketing – low overheads.
Rich Branson says in his book LIKE A VIRGIN (chapter – Launching A Business)
don’t short change your start-up when estimating the funds you require – you will just diminish your chances of success.
Don’t go in under-capitalized in creating success in network marketing!
MLM Tips: Yes I agree that you must keep expenses down as much as possible but never confuse yourself that capital expenditure is daily costs.
You don’t want to be one of those statistics of entrepreneurs who start their network marketing business under-capitalized and run aground in your first 6 months. This isn’t the way you create success in network marketing.
More Network Marketing Success Tips: Allow for these running costs While creating success in network marketing!
If you embarking on your network marketing business (network marketing basics) allow for these costs towards successful marketing strategies.
- Monthly products that you need to buy in to keep you commission eligible,
- Business cards printing costs,
- Flyers to hand out to clients,
- Paying for an add in the local rag,
- Paying for the extra phone bills,
- Paying for the odd coffee you may have while presenting to a client,
- Paying for training at meetings once a month or quarter,
- Paying for books or other educational material to help with your learning process,
- Finally paying to attend your local convention in your country.
Successful network marketing tips: All these are costs that need to be factored in right from the beginning if you want to succeed in network marketing.
Spread out over the year this is not much. Getting a handful of repeat retail customers will easily cover this and make you successful in network marketing.
So if you are a new start-up in a home based business and just getting started I hope that these network marketing success tips will help you move towards success in network marketing faster from today.
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