4 tips to help you build your business on a budget
Most people who come to network marketing do so to make extra money. Well, most come to the industry to make the big bucks and fire their bosses. Either way, most people don’t have a lot of money to invest into building their businesses.
Since a lot of us are on a budget, I’d like to offer you 4 tips that might help you out.
One of the most often heard objections to signing up with a network marketing company is, “I don’t have the money.” It’s not like they have an endless supply of money to use to join your business. Could they come up with the money? Probably. They just don’t see joining your business as a priority.
There are people who truly don’t have the money to join. To those people, I would say, don’t join. If they have a burning desire to join and build a business then I would encourage them to generate the money they need. Thanks to Craigslist.org and Ebay.com, it is easier than ever to raise the needed funds. I would think that almost anyone could find a few hundred dollars worth of unwanted items in their garage or attic.
Once you’ve joined a network marketing company, you will want to generate a monthly income. You do this for two reasons. The main reason is so you can afford to stay in the business. I believe the #1 reason people quit their businesses is that they are losing money. It costs money to run and maintain a business. If you are unable to generate any income, you will never be able to offset the operating expenses. You will be forced to quit, just due to the economic realities.
How can we generate a monthly income?
Sell your company’s products
The quickest and easiest way to generate money is to sell your company’s products. They are the best in the world, right? That was one of the reasons you joined. You must have a “product story” to tell prospective buyers. That’s a story about how the products have helped you solve a problem you were having. Just tell your friends, relatives, neighbors and coworkers that your clothes are cleaner, your teeth are whiter, you’ve lost 10 pounds this month or whatever it is that your products have done for you.
Talk to the people who love you the most or owe you the most and it should be a fairly easy sale! This should create an ongoing stream of income, for you.
Sell affiliate products
Another way to generate money is to sell affiliate products. It could be a book from Amazon or you could sell a product that one of the network marketing gurus has created. There are any number of products and services out there that you could be an affiliate for. Find a few that are easy to sell and get started.
Track your results
This section is about saving money section rather than making money. Most network marketers will be spending money trying to build their businesses. Marketing and advertising can be expensive. You’ll need money to pay for these expenses. This is why you are trying to generate a monthly income. If you can offset the costs of running your business, it will allow you to continue to operate, forever.
If you keep track of the results of your advertising and marketing, you will know what is working and what isn’t. You should discontinue anything that is not producing the results you desire and reallocate that money to another form of advertising that is working.
I know you have to be thinking that you can generate an income from recruiting. In fact, you can generate a lot of money. There will be plenty of time to recruit people after you have an established a monthly income.
Once you have a monthly income, it will be much easier to recruit people. When a prospect asks you, “How much money are you making?” and that’s a reasonable question! You can say, “I’m making $300.00, $500.00 or $1,000 per month,” however much you are making.
Is you prospect going to say, “Well, sorry that’s not enough money for me.” Or do you think that they would say, “Hmm, I’d like to make an extra $300.00 to $500.00 per month. Can you teach me how to do that?”
I would hazard a guess that they’d want to learn how to make the extra money!
If you are building a business on a budget, like most of us, I hope that you found these ideas to be helpful!
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