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Build Your Own Business With Leverage
Author : Don Monteith
Did you know that most folks spend so much time evaluating a business they NEVER begin.
Taking the cash to the bank is our goal, not getting everything perfect. It sounds rather harsh but truth must be faced in the world of building a home based business.
Evaluate and explore carefully to make sure you're not taking excessive risks with any new business venture, but decisions must be made if your goal is to be a business owner.
None of us have a crystal ball. Yes, I've seen their signs along the roadway, the fortune tellers, but we think it's a waste of time.
With that said, you do need competent advisers to guide you in unfamiliar areas, i.e. accounting, legal, insurance, etc. Don't overlook the necessity of taxes, payroll and know that the IRS is "on your side".
In all the major business schools, there are three basic foundations taught about business models to look for. Exploring these basic foundations will give you the clues required to succeed:
1.Large and expanding markets in the field of your choice.
2.Products and Services are consumed monthly. You're looking for repeat commissions.
3.Leverage. You can leverage your time building a residual income stream.
These three foundations are the basic criteria we use to evaluate all new business opportunities, whether it's network marketing, a brick and mortar store or a franchised business.
Here's the good news. Always select a business opportunity that satisfies important criteria for success.
1. Be in an enormous market that is growing bigger every day. As an example, every household we know has mobile phones and are upgrading or changing Mobile phones often.
2. Products and services must sell themselves each and every month.
3. Join in the momentum phase - where the real money is made.
4. You can Leverage your time by commanding an international sales force from your living room.
Leveraging your business is achieved by inviting friends, family and others to be your business partners. You decide whom to invite.
Some folks don't want to contact friends or family members and that's NOT a problem. You can save them until the next growth level when they see your success and begin to ask questions.
Duplication is Key #2. You must learn and follow leaders in your UPline willing to help YOU build your home based business.
Tire kickers, those always looking but never taking action, is not our ideal for team players. Sounds like a car salesperson at a new car dealership.
Get on a system where interested folks "raise" their hand, letting you know they are interested in what you have to offer, the rest fade away.
It's called leverage, NO employees, NO payrolls, NO benefits to pay. We are all known as equal business partners, individually rewarded.
Over time you'll have a team, let's say, you have 2,500 independent representatives working an average of ONE hour per week. Some will work more, others will do nothing, that's a given.
Yes, it will take most of us 6 months, maybe even 2 years to reach this level, which is OK. Lots will be happening for you in the interim. This group [your team] would represent over 2,500 hours per week working on THEIR own business,
I'm sure you're seeing the POWER of this leveraging BIG $$ for YOU.
Time-leveraging your business is dependent on having a system that is easily DUPLICATED by your team members. Even though help is available, you're the coach, the leader, the teacher.
Your goal is to provide information where potential candidates express interest in what you offer. Everyone is not a business prospect.
Author's Resource Box
Don Monteith spent 32 years as co-owner of several franchises and personnel/staffing services. Today, he shares his business and career expertise helping others build their own home based business through network marketing to earn residual income streams. http://www.actiontips.globalverge.com
Article Source:
Articlebliss
Tags: network marketing, business, entrepreneur, networking, online business, residual income, money, business ownership
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Submitted : 2010-02-08 Word Count : 1 Popularity: 71 Times Viewed: 7
