Enlist the assistance of a bookkeeper and/or accountant. They can help you with incorporating and otherwise setting up your business to help you to be profitable and help your with your business reporting.
To run your business in an organized fashion, you must have a separate checking account. This should be used exclusively for your business. It’s vital for good record keeping and it will really help you out at tax time. Learn too about what tax breaks you can claim and how to set up a system of tracking them.
In one location, write down important information, such as:
– my accountant’s info is …
– my bookkeeper’s info is …
– my business number is …
– my up line partner’s info is …
– my business checking account info is …
– my business credit card info is …
Get yourself set up with some initial business supplies, such as:
– business cards
– a domain name
– a web hosting account
– an auto responder program
– web page to capture names and e-mail addresses
Start by writing some auto responder messages to drip on your prospects.
Then, write auto responder messages for a campaign to release the info your new recruits need when they get started.
You can set up even another series of messages to follow up with people you met at events who agreed that you could send them more information and keep in touch. If the messages you wrote for those who visited your squeeze page are worded in the correct way, you can just add in their names to receive the same messages. However, we suggest a separate series for those whom you personally met since you can write the messages in a more personal tone.
You do these once and then you don’t have to do it for each and every prospect. You won’t ever leave a prospect alone for too long. When there are company updates, you just have to update your one set of messages, and you or the company will send a broadcast to those already in the business for a while to update them.
Also, once you have written these sequences of messages, leverage that effort by sending them in .txt format to your down line so that they don’t have to re-write the same messages, freeing up their time to move ahead more quickly, and it keeps the message going out consistent.
You can have a preset web page template that others can use so they can just upload it on their server. If they really cannot get set up with a domain name, hosting services and an auto responder system right away, you can host a page for them, however, you want them to try to get set up with their own since you don’t want to cause more work for yourself and people also need to feel that they are in control of their own business.
You don’t have to create a new web page with all of the details about the opportunity. Stick with the corporate site or you will be ever updating which is not the best use of your time. You just want to set up an effective splash/squeeze page to capture people’s addresses so that your auto responder can follow up with them until they are ready. The squeeze page is meant to just give them enough info to peak their curiosity and lead them to the corporate site for more info and to sign up. We had been in network marketing for far too long before realizing the power of this. After too many years, we didn’t have even one opt-in e-mail address more than we had in the beginning. Sure we had contacts but when people enter in their own info, it shows that they are more serious and qualifies them further, and most importantly, gets them into your auto responder system so that it can follow up exactly as planned. You just call them from time to time to add the human touch.
It is important that you know, ‘the fortune is in the follow up’! When you set up your key business operations to be more on auto-pilot; to follow up with your prospects, even when you or your down line are sick or sleeping or traveling or recruiting others or just not in the mood. It leverages your time which is a must if you ever hope to make it big or have time freedom. It also is a key way to ensure that each business centre to help set up will have a solid positive impact on your profits and rank in the company.
Can we ask you a question right now?
How was your day? More specifically, how was your business today?
On a scale from 1 to 10, how would you rate your satisfaction with your network marketing or other business today?
If you said, ‘Less than 10’, let us ask you another question.
What would a 10 look like to you?
Can you describe a 10 in your MLM or other business? Think a bit about it…. Maybe write down a few ideas.
What does a 10 look like?
Now, can we ask you another question?
What are 2 or 3 action steps that you could take in the next 72 hours that would improve your current score by at least .5 or even a full point?
For example, if your current satisfaction with your business is a 4, what are 2 things that you could do within the next 72 hours to make it a 4.5 or even a 5?
How many of your down line are mentally defeating themselves before they even start? Can you help them focus on just 1 or 2 action steps at a time?
Remember this quote: “take a little action, get a little result, take MASSIVE action and you’ll get MASSIVE results”.
Massive action means different things to different people. Don’t impose your numbers on others and celebrate their victories.
PLAN – DO – REVIEW
Make appointments with yourself to evaluate your progress and identify areas of improvement. Take it upon yourself to get your answers and new strategies. Do you need to work on your approach/recruiting, or is it your presentation skills, or maybe it’s your closing skills? What about the amount of effort you are putting in? Perhaps you figure it is time to speak with different types of people and mingle/market in different areas.
Based on this meeting with yourself, choose what you have to improve in the week and go and do it.
Find the solution to what you are lacking. Go and acquire a book, attend a class, listen to a tape, find a mentor etc.
Ensure that you are focusing on money-making activities not administrative activities.
Don’t buy more business materials than you need. Buy some materials, hand them out and then buy more and hand those out. Even if there is a deal going on if you by in bulk, only buy what you can manage to give out and make it your mission to get the materials into the hands of prospects. Once you have given them all out, you will feel successful at that. You are setting yourself up to accomplish manageable goals rather than buying a whole lot and just seeing them sitting there and feeling perhaps bad that you haven’t been able to give them all out. Besides, if you don’t hand many of them out, did you really get a discount or did you end up over-paying? Money spent on inventory that isn’t being used is money that is not being to best use financing say your education. If you are coordinating for your team, that is a different story since you will need to have stock on hand. However, only take on this role if you are actively turning over the stock.
To build effectively, you must plan your work and schedule your time in the manner that best suits building your business. You’re already using all 24 hours of every day already. To change your life, and what you’re getting out of it, you must change the way you’re using your 24 hours. You must carve out exclusive time for building your business. Work closely with your sponsor to determine how to schedule your first few weeks of your business. Find out the dates of all upcoming functions for the next ninety days so you can schedule your work and other obligations around them. Also, learn the dates of any annual conventions and conferences – these are major events, critical to your success, and you want to make sure you’re at these.
Your business is driven by the volume produced by sales to the end consumer. A great deal of those sales will be to distributors who “buy from their own store” and use the products themselves. But there are many other people who will benefit from your products or services – but are not interested in building a business at this time. These people will become your consumer group. It’s critical that you develop this consumer group. This is good business, because you: service the people who aren’t distributors but need your product or service; earn retail income; develop consistent income you can count on from regular customers; and build personal group volume which can keep you qualified to earn many other lucrative bonuses and incentives. It’s a good goal when you’re just starting out to develop a base of at least ten retail customers. Please do not, however, go out trying to sell products retail first then attempt to sneak the business in the back door. Present the whole program – business and products – and let the prospect decide. Get your retail customers, from the people who choose not to participate in the business.
When you order products for your personal family use, buy them from your own business at retail. For example, let’s suppose the wholesale price of one of your products is $7 and the suggested retail price is $10. You would write a check from your personal account for $10 to your business account. Of course you already wrote a check from your business account to your company for $7. The difference – that $3 – is really a retail profit that should be credited to your business. You want to be your own best customer.
Your business will be as good to you as you are to it. If you treat it like a $200 business, then don’t expect much. You must treat your business as if you are already making tens of thousands per month.
When you do this, you are materializing a real business. You will pull the energy out of the universe to help you manifest a real successful business.