I can’t afford to invest in my business
This is a statement that is a lot more common than you might think. Then again, you might be saying it yourself. Most people come to network marketing because they are in need of more money. That is probably the most common reason why people join a network marketing company.
It stands to reason that if you are in need of more money you might not have a lot of money to invest in your business. You might not have any money. Or at least you think you don’t.
Are there any solutions for this lack of money problem?
Obviously, there must be or I wouldn’t be writing this article.
You’ll need money to invest in your business.
The network marketing company has come up with their version of a solution. What is it? It is referred to as the “memory jogger.”
You are to write down everyone you know. Everyone you kind of know and those people that you bump into from time to time. You write down the names of all your relatives, your friends, your neighbors, your coworkers and all the people who provide you with services. Not those kind of services. These would be people like your lawyer, if you have one. Your mailman, your milkman and Spiderman.
Most people can come up with 200-500 names. Those are now your leads. You are supposed to talk all of them about joining your business. Maybe you recruit a few of them and maybe you just learn what all these people really think about you. Well, in either case, they might offer a lot of resistance to the idea of working with you.
This group of people, on your list, are known as your “warm market.”
I call the “warm market,” the place where network marketers go to die. Most network marketers quit before they get through their warm market. You will get scoffed at ridiculed and laughed at by your warm market. Those few who make it through the “killing fields” of the warm market, don’t last long after that as they can’t generate new leads.
If I am right about the warm market, then why would a network marketing company want you to go there? Because it is free. It doesn’t cost you any money to talk to these people. It might cost you some of your pride and dignity. You never know, you might actually find a great business builder in your warm market. It has happened.
If you don’t have money, then going through your warm market is a place to start. It’s not a great place to start, though.
There are better ways to use your warm market. You can read more about that, here.
Are there any other solutions to the problem of not having money to invest in your business?
There are several easy ways to have money when you think you don’t have any money.
The first way might be a bit painful, figuratively speaking. You can reallocate the money that you are already spending. You can cancel your cable TV. You can pay the minimums on some of your debts. This will free up some funds for you to invest in your business. You can even stop buying Starbucks coffee every day. There must be several ways that you can think of to take money that you are spending in one way and using it for your business.
The second way to find money to spend on your business might be a bit painful as well. You can sell some of your belongings. You could have one thing of value or a lot of things that add up to a decent value. You can hold a yard sale, or put them on Ebay or Craigslist.
The third way to find money to invest in your business is to sell your company’s products and to recruit new people into your business. You definitely get paid to do these activities. You will be reinvesting the profits back into your business.
This is something that you should be doing during your entire business career. To me, your business should become self sustaining as soon as it can. If you are having to put new money into your business all the time, you will go broke eventually.
If you are going to build a business, you will need some money to spend on it. You should be advertising to get new leads for your business. You will want to buy books to read, to feed your mind. Some of your company’s event may not be in your area. You will need to be able to get to them and have a place to stay. None of these things are free. You will need money to operate your business!
Make a financial commitment to your business! Find a way to invest in your business!
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