If the network marketing business is so good then why 90 percent of the people see the opportunity but fail in it? The business idea of building a large organization is so simple yet not easy to accomplish.
In this article, we look at the 7 common mistakes to avoid when building a successful home based business.
1) I must find the Super Salesman / I must become the Super Salesman.
Many of us view the MLM business as a numbers game but a successful network marketing business builder looks at both quantity and quality of people. There is no doubt that sponsoring is the foundation of building a large organization. However, as concerned as we are about the numbers in our team, we would rather be sponsoring five teachers than five salesmen.
You see, we are not dismissing the fact that salesmen can be a great asset to your team. Sure, the salesman will automatically do very well in selling the high quality products your company offers. They are able to put together their own presentation and sell effectively to people around them.
However, we do not want to tell our people how to sell, we want to teach our people how to sponsor and teach to build a large organization. Likewise, if you are a sales person yourself or you have people who are sales oriented in your network marketing team, teach them how to sponsor and teach to build a sustainable organization.
It can be difficult because if for example, you tell your super salesman that you need to sponsor people to make the larger amounts of income, what will they do? They will go out there and sponsor 3 to 4 people a week. This is great isn’t it? However, you may then notice that people are dropping out as fast as they join your team. This is because you are not working with them effectively. Sooner or later, your super salesman will be discouraged by the high leaving rate and leave the organization as well.
In order to avoid this, our organization has to be built on the strong foundation by TEACHING OTHERS to sponsor and teaching them to teach others to do the same.
2) I need to sponsor the whole world to be successful.
The Super Salesman can sponsor 100 people in a short period of time but most (or sometimes all) of them will drop out of the business. Now, which do you feel you could do more quickly — sponsor 100 people yourself? Or sponsor 5 people who are serious and teach them how to teach their 5 to do the same?
The network marketing business concept works on the idea of LEVERAGE. There is absolutely no need to sponsor the whole world to be successful. Concentrate on working with five in your team and teach them also to work with their five and so on.
3) I only need to bring in one other person.
Most people think that you have duplicated yourself once you brought one other person into your organization. This is NOT true. The concept of true duplication only comes about when you have built your organization THREE LEVELS DEEP.
Take the example you sponsor ‘A’. If you leave and because you did not teach ‘A’ and he does not know what to do, that’s the end it. On the contrary, if you DO teach ‘A’ to sponsor ‘B’, ‘A’ will know what to do even if you go away from the organization. However, if ‘A’ does not know how to teach ‘B’ to sponsor, then again the structure will collapse and that’s the end of it too.
Therefore, in a team, it is imperative to teach ‘A’ how to teach ‘B’ how to sponsor ‘C’. Now, you are THREE DEEP and have successfully duplicated yourself. And the same goes for ‘A’, he or she has to build three levels deep as well to keep your team sustainable.
As a woman there are more reasons for you than most men to start your own home-based business. A combination of corporate prejudice and the demands of raising a family are all key factors in most women’s decision to call it a day in the corporate rat race and try their entrepreneurial hand at working from home. And because women are that bit more creative than guys you’ll find that you’re also far more suited to a wider variety of home based businesses than most men.
So what we’re going to take a look at here is a mix of both traditional home-based jobs and also the best home based businesses for women. At least that way you’re getting a balanced look at all the options that are available to you and will also help if you’re a tiny bit technophobic! And ideally at the end you’ll have made a choice from our selection of the best home based businesses for women.
1. Life Coaching
With such low overheads the option of Life Coaching is a great choice for women who are drawn to helping others improve their lives. There are many accredited coaching courses available and most are online distance learning courses with only limited face time required. The challenge, like most businesses is to find regular clients to keep the practice going strong which is why most coaches soon realise that marketing is a huge aspect to running a successful practice.
2. Home Baking
OK this might sound a little bit 1950s for your “taste”, but there’s a huge demand for home-baked cookies, cakes and muffins and I personally know women who have built a full-time business from just baking muffins from home. The reality is home baked cookies always; always taste better than the store bought ones. If you’re ever-so-handy in the kitchen then this is one might be worth considering.
3. Dog Walking or Dog Sitting
Again because most people are either busy going to or coming from work dogs aren’t getting walked nearly as often as they should be. And you have dog owners who hate the idea of their pooches being stuck at home on their own all day. A dog sitter can charge $80 or more to make house visits to a client’s dog or if you’re dog sitting at home around $25 per day is about average. You get 4 dogs per day that’s $500 per week – that’s better than no cash right?
4. Adult Novelty Toy Parties
Ok, before you get all hot and flustered, or perhaps a little offended it’s worth mentioning this option because there is a booming trade in house parties where adult novelty toys and costumes are sold. The idea here is that you create a party atmosphere by playing harmless games to set the stage for selling more risqu items later on. I won’t go into any more detail here – but I’m sure you get the idea.
Now here’s one that most people have never considered. Have you got some cute or funny pet pictures that your friends love? Or how about some holiday snaps that people admire? Or are you just a natural for coming up with funny phrases? In that case you can take your skills and create a free CafPress store and upload your digital images or funny catch phrases and have them printed onto t-shirts, mugs, beer coasters etc. that are then drop shipped to customers who like your designs and you get paid a share of the sale price!
Are you an arty crafty type of person? Can you draw, sculpt, paint, stitch, sew, crochet, dye or make knitted goods or handmade jewelry? If you’re even remotely artistic then Etsy.com is the perfect place to sell your wares. Think of them like the EBay of arts and crafts and there are plenty of stay-at-home moms who are making a full time living from selling their arts and craft goods on Etsy.com
The multi-level marketing model has been around a long time and there are many companies to choose from that sell every product you can think of. It really comes down to choosing a company that has great integrity, loads of support and training and leadership that can help you and mentor you as you grow your business. People don’t buy product, they buy people so don’t fall for the line ‘our products are the best and sell them selves’ line. This is simply not true. When considering an MLM company look past the products and look for the quality and longevity of people involved in the opportunity and make your mind up from there.
8. Affiliate Marketing
And last, but by no means least, we have affiliate marketing. This is often referred to as the ideal business model for women if you want to start your own home based internet business and work from home because of the limitless earning potential and the fact that once the business is set up it can be set to autopilot after several months of work. Unlike mlm most affiliate marketing products are all sold online so you don’t need to stock product or have an inventory at all. This makes for a very ‘light’ business and extremely portable and can be highly profitable.
If you’re not familiar with affiliate marketing it’s a business opportunity where you sell goods for other companies through your blog or website and earn a commission for doing that. You never have to handle any goods or customer support calls so it’s proven to be very popular with thousands of women and who are having incredible success online while working from home or anywhere with just a phone and a laptop.
So it’s time for you to grab a cup of tea or coffee and a pen and paper and plan out how to start your own home-based business selling a product or service that you’re passionate about – we’ve given you some of the best home-based business opportunities for women you’ll find.
Magnetic notice boards are a great idea for your home office; they can be used to record messages while bringing a little bit of fun into the working day. Any office gets messy and a little unorganised and to have a dedicated place where you can leave reminders and notes can be really helpful to keep things neat and tidy.
I recently visited an home based business where they had a large magnetic notice board on one wall of the room, which was where they wrote the monthly retainer work they had alongside odd jobs that had come in with who was responsible for each task next to them. They had written on the board with dry-wipe pens which is another great advantage of a magnetic notice board because it can be quickly and easily wiped clean to start all over again. They also had individual smaller boards next to each of their desks where they wrote their to do lists or left themselves reminders for later on in the week. They felt this really kept them organised and with a few magnets dotted around here and there they were also able to pin important notes to the board. One employee had even brought in a couple of photos of her family and magnetically pinned them to the board by her desk and another had a postcard from a friend in a on holiday in the Galapagos Islands a place she says she has always wanted to visit.
There are a variety of magnets you can get to either keep things in place or provide yourself with a little bit of harmless entertainment. One good example is the packs of different words you can get, so you can make poems up or miniature little stories, might be a good moments distraction during your lunch break or a point when you just need to get away from your desk to think about something else before going back to the matter at hand.
An office really isnt an office without a notice board, with so many notes flying around and messages to pass on they can really be a useful business tool.
Juice Plus is one of the more larger Health and Wellness companies out there and the demand for their products appear to be growing despite some wailing ‘Juice Plus Scam’. But is Juice Plus the right opportunity for you and is it really a scam? Read this article to find out if it’s worth your precious time.
What Is Juice Plus?
Juice Plus is a line of dietary supplements that contain fruit and vegetable extracts with added vitamins and other nutrients.
Juice Plus was introduced to the world in 1993 and the owners decided that it would be best to sell these products through Direct Sales or Multilevel Marketing.
Juice Plus is advertised as ‘The Next Best Thing To Fruit And Vegetables’ as you can imagine this has created controversy and has attracted the attention of consumer watchdog organizations who say this kind of advertising is misleading.
I’d just like to say at this point, from a business stand point this may actually be good. Having a product that attracts and creates controversy has worked well for this company so far by attracting attention to it.
The Primary products in this line of branded dietary supplements are Orchard Blend and Garden Blend. Orchard blend is a powder based fruit juice and garden blend is a powder based vegetable juice. These products can be bought at a cost of $167 for 4 month supply.
Other supplement products in this line include, Vineyard blend a powder based berry/grape juice, gummies, meal replacement powders, soft chewables, capsules, chewable tablets, Juice Plus Thins(wafers) and even a vitamin formulation for cats and dogs.
There have been criticism from some that go along the lines of ‘this doesn’t work’ or ‘there is no scientific evidence’. First understand that these products are SUPPLEMENTS and are meant to be supplemental to what you are doing now.
In the 21st century we live a hectic lifestyle and don’t have enough time to pay attention to the ins and outs of healthy eating. Juice Plus solves a problem, it negates the need of having to boil vegetables and buy fruits day in and day out(that being said you should eat fruit and vegetables when you can).
Using supplements like this can help all of us reach the 5 a day and bridge the nutritional gap between what we should be eating everyday and what we do eat everyday.
The business model revolves around MLM or Multi level Marketing for those that don’t like acronyms.
Products are sold and marketed through independent distributors who receive sales commissions form sales made.
Ranging from 6% for enrolling 5 customers in 30 days to 14% for enrolling 20 customers in 30 days.
Some Of The Things I Don’t Like
This is an MLM company and as such takes a long time for real financial dreams to come to realization. Most people don’t treat MLM for what is is, something that accrues net worth over time much like a mutual fund or a cd.
With that being said however the compensation plan leaves something to be desired. 6% for enrolling 5 customers in 30 days? That is challenging even for the most taxing of industry comp plans.
Couple this with the fact that 99% fail in this industry and you quickly come to understand that most people don’t have the tenacity of a bull headed and thick skinned slick rick-salesman.
So instead of tackling this problem the training provided is the thing that makes everyone fail in the first place.
Posting Flyers, 3-foot rule prospecting, meetings, buying leads, cold calling are effective methods reserved for a select few and when I say a select few I mean it, how is 1%.
However…..you can make this work for you if you can get people asking you about your business on a daily basis. That’s right anyone in Network Marketing worth their salt know that it is far more effective to attract people, become the hunted instead of the hunter.
This is called Attraction Marketing and all the top earners use this method. When you attract people they go into business with you and not your company.
When you set yourself apart from all the peddlers that are marketing replicating websites and offering a business opportunity on the front end then you are a leader.
If you use Attraction Marketing it won’t matter if your company is shut down or you have people leaving your downline because you’ll have a constant flow of leads coming to you on a daily basis by providing leadership.
The Juice Plus scam doesn’t actually exist. The reason most people fail is that they pursue this business in the same way as the 1% at the top. It’s time to stop cold calling and prospecting every man and his dog on the streets.
Attraction Marketing is the way forward.
Below are 19 common deductions for someone working from home (as over 90% of coaches do).
Working from home has many advantages. For one you are able to organizing and arrange your time based on what works best for you and your family. If you work best in the morning then you are able to schedule your most important calls and computer work then, observing a more relaxed schedule in the afternoons.
Have fun and enjoy spending your income on deductible related expenses. I like to spend my money on coaching and life improvement or success books, and on coach training materials or programs.
Keep track of your receipts and easily enter the numbers into your accounting books. After you have entered it in, mark the receipt as “entered” and store it in an appropriately labeled envelope. (“June Outgoing” for example.)
As a coach working from home, what can I deduct?
1. A portion of air conditioning, electricity, heat, and water.
2. A portion of your house insurance or renters insurance.
3. A portion of your rent or mortgage can be deductible if you have a space that is dedicated to the use of your home office.
4. Bank account, check cashing and check replacement fees.
5. Books related to coaching, life change, marketing, business, taxes, bookkeeping, success, self help, weight loss, health, psychology.
6. Cleaning supplies. This includes waste baskets, cloths, and floor cleaners etc.
7. Computer parts/ supplies.
8. Salaries: general employees, assistants, secretaries, receptionists, accountants, bookkeepers.
9. Interest on any business related borrowing you did, though for a home coaching business it is rarely necessary to borrow to start your business. This would include credit card interest as well.
11. Mail related items: stamps, envelopes, gas used to mail the letter.
12. Maintenance and repairs including waste and snow removal.
13. Office furniture.
14. Office supplies.
16. Printer parts/ supplies.
17. Security system.
19. Training. (Coaching or business related.)