Tuesday, September 11, 2012

How to Check Your Timing

As economic news points to continuing weak growth, many more citizens are turning to less traditional methods of earning money, and multi-level marketing business opportunities hold the promise of a profitable career. Most home-based businesses are legitimate, so reps sign up relatively quickly, sometimes over objections of friends and family who've all heard horror stories about someone else they knew who had zero success in spite of taking recommended action by their upline, paying for monthly auto-ship and calling on their warm market.
Research really IS your friend, so go slow
One of the enduring truths about work from home businesses is that many people decide to start a home business when they need money RIGHT NOW. Others join an income opportunity because they heard a presentation from a friend. But in either case the decision isn't made based on confident, well-researched, proactive business-building actions. It's based on the timing of their need or their friend's need to fill chairs in the hotel meeting room.
The timing that is critically important to building a successful downline and generating the coveted residual income that is the dream of network marketers across the globe is timing in the targeted company AND their particular niche in the industry. MLM companies come and go, though there are a handful that have been household names for many years. More likely there have been hundreds even thousands that have started and ended with barely anyone ever hearing of them.
You just graduated last week, Doctor?
Timing in the company means that, because of the likelihood that most new businesses whether MLM or traditional brick & mortar fail in a short period of time, it's a dicey proposition to hitch your wagon, your future and your reputation to a brand-new unproven (or prelaunch) home business. Just think how much money you could lose and how many relationships you'll have to try to repair when it goes south. Think about your aunt who was on auto-ship for your skin-care lotions and helped you host in-home parties at her condo and invited all of her friends. Then there's your best pal from college whom you sold on the idea that she had to get into your opportunity so you could meet your sponsoring goals and she'd soon be able to buy that BMW she's always wanted. Handling the fall-out of a failed company is much worse when it affects more than just you. Companies that are less than two years old should make you think REALLY hard about joining.
Another big consideration relating to timing is the status and health of the industry in which a company operates. For example, technology-related companies can seem like definite winners given the productivity of that market as well as the seemingly endless numbers of potential customers and distributors that are available to ramp up your bonus check. Just remember that businesses that rely on the latest technology for their services or products can change virtually overnight and what once appeared to have unlimited upside can lead from profitable strong legs to money-losing, disappearing downlines. A health and wellness home-based business that sells supplements and potions can still fail, but it doesn't rely on cutting-edge gadgets to turn a profit and adhere to its compensation plan.
Like all other aspects of being an entrepreneur and building a profitable residual income, an MLM opportunity requires education. Do your homework about the work from home industry before thinking about getting in on the groundfloor. Being your own boss means doing your research first.

No comments:

Post a Comment