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Tag Archives: Home Based Business
You hear all the time right now about unemployment. People are going through layoffs, downsizings and rightsizings as companies seek to find a way through the current economy, or give up entirely and close their doors.
On the other hand, if you travel in small business / entrepreneurial circles, you hear people talk about being unemployable. I’m not talking about people who have no skills and no ambition. These are bright people with a lot of skills. So why are they unemployable?
I met someone yesterday who has an excellent reason to look into a home-based business. She is the manager of a local department store photography studio. The corporate office dictates the hours that her store is open without any input from her or feedback on what her customers need. She had to lay off all of her employees because the store isn’t open long enough to justify paying anyone and they aren’t making much money because the store is only open during the hours that her customers are at work. Talk about being a victim of Corporate America.
You’ve heard about self-made millionaires before, right? Have you ever met one? Were they really self-made, as in they did it all by themselves?
I’ve been studying Loral Langemeier‘s programs again and she puts out the idea of team-made millionaires because you cannot really become a millionaire all by yourself. In reaching that point you will run into things that you don’t know how to do or things that are better left to others so that you can stay focused on making money. You need a team to take on those tasks, such as bookkeeping or cleaning your house, so that you can stay focused on the tasks you need to be doing. Besides, you are supporting other businesses in your area by hiring out those tasks.
The company that I used to work for has an upside down pyramid for their corporate structure. The customers are at the top because a company cannot exist without customers. The next layer down has the regular employees who support the customers by taking orders, providing technical support, and handling accounting issues. The next level are the team leads whose job is to support the regular employees. They provide the employees with everything they need to get their jobs done. Below them are a handful of team captains who support the team leads. Then at the bottom is the company captain. As you can probably guess by now, his job is to support the team captains. The company is doing well even in this recession because they have very loyal customers and extremely low turnover in the workforce. The company exists to provide good service to the customers and give the employees a great place to work.
It is much cheaper to keep an existing customer than to acquire a new one. With that in mind, you need to create a process to keep your customers interested in your products and repeatedly draw them back. One method is to create a sales funnel.
Network Marketing, especially Wellness Network Marketing, is a great way to build a supplemental income, and eventually a primary income.
This is the perfect time to think about starting a network marketing business. These days everyone is worried about the economy. Banks are going under as well as other large businesses. Thousands of people are becoming unemployed. Network Marketing is the perfect answer to this problem. I know people who are doing Tupperware, Shaklee, Arbonne, Juice Plus, Ambit, Ignite, Xango, and SendOutCards. I am with Nikken, a wellness network marketing company. None of them are worried about losing their job. Once they have been doing it for a while they aren’t worried about their next paycheck either. My upline has been with Nikken for better than 20 years and is not worried at all about the economy. They have created their own, very robust, economy.
Persistence is the key to building a prosperous home based business.
There are two points to persistence when building your business. The first is the persistence to stick with your business over time and the second is the persistence it takes to convert your prospects into customers.
I spent 3 days last weekend at Loral Langemeier’s Cash Machine Workshop and it was the best seminar/workshop that I have ever attended. The days averaged 12 hours long but flew by. I never even once checked to see what time it was during the weekend except to make sure I returned from the breaks on time.
There are two things you need to create a business, a product or service, and a marketing plan. Affiliate marketing lets you shortcut your startup time by allowing you to plug into somebody else’s product or service, and so far all of the affiliate programs I have found are free to join. All you have to do is drive traffic to their website and they take it from there.
You don’t really have to worry about a marketing plan either because once you have directed traffic to their site, they have all of ad copy to promote the product already in place. All you need to be concerned with is directing traffic and collecting a commission, which is usually a percentage of the selling price.
Last time we talked about how a “job” is a dead end. JOB = Just Over Broke. The problem is that your income is ultimately limited to the number of hours in the day.
What else is there?
There are three broad categories of ways to make money. The first is to trade time for money, or have a job.