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How to Select the Right Marketing Strategy for Your Business

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I’ve probably had more conversations about this topic with clients than any other: What marketing strategies should I use to market my professional services?

These days, there are more options to market yourself than ever before. And you may have a tendency to look for something quick and easy that will generate a never-ending stream of new prospective clients.

I wish that solution existed. Some of the newer methods of marketing, such as YouTube videos, are very powerful, but extremely difficult for the average person to pull off successfully.

Over the years, I’ve had tremendous success with three primary marketing activities. And I’ve also helped a whole lot of clients implement these strategies successfully as well. Nevertheless, for all of them it can take a tremendous amount of time and energy to get consistent results.

Here are the pros and cons of each strategy and my overall recommendations about how to integrate each one into your overall marketing plan.

Networking and Direct Outreach

This strategy about building relationships with others in your field who can connect you to prospective clients. This means having conversations, attending meetings (individually or in groups), and doing follow-up. Sometimes it means reaching out directly to those in your network (including LinkedIn), being proactive, and exploring possibilities for projects.

Pros: Networking is the most concentrated, focused, personal kind of marketing. And if you do it well and consistently it can be extremely effective in building strong relationships and trust with your business associates and prospects.

Cons: The downside of networking is that it can drain your energy. This is a particular issue for introverts like me. And networking only enables you to reach a limited number of people.

Recommendation: Start marketing your professional services by meeting as many people as you possibly can – face to face. Join organizations and associations and then learn how to use LinkedIn to connect with new prospects.

Speaking (Live and Webinars)

If you want to gain a reputation as an expert, nothing is better than speaking. And it combines the best of networking and writing, in that you are connecting with people directly and also sharing your valuable expertise.

Pros: Speaking can quickly establish you as an expert. And you can immediately follow up with those in your audience.

Cons: The downside of speaking is that, for many people, it comes with a high fear factor, therefore a lot of people avoid it.

Recommendation: As your network expands, start to find audiences to present your ideas through professional associations, chambers of commerce, and other groups both offline and online. Learn the skills of giving a great presentation and of following up with your audience members.

Writing

Publishing articles and books have always been a good way to market professional services. It establishes your credibility. And with the expansion of various platforms on the Internet, such as Medium, and tools such as WordPress, it’s easier than ever to put your ideas out there.

Pros: There is no better way to get your ideas out into the world and in front of a large number of people quickly and at virtually no cost.

Cons: The downside of writing is the sheer volume of online material. There are so many articles published online these days and sent out by email that it can be hard to break through. And yes, writing is a lot of work and takes lots of time.

Recommendations: You should publish an online newsletter and blog as soon as possible. Work at growing your list and you’ll expand both your reach and credibility. Note that this can take years, so you need to be patient.

This is the fifth of five articles about the 5 Pillars of Marketing, my marketing model that helps get your marketing on track. 5 Pillars article here.

Social Media (supplemental strategy)

For independent professionals, social media is a fast and easy way to communicate about what you’re up to in your business. It’s worth the time to set up LinkedIn, Facebook and Twitter accounts.

Pros: It’s easy to set up social media accounts and start posting and linking almost immediately.

Cons: It can take a long time to gain traction that results in any new business. And it can also eat up a huge amount of time.

Recommendation: Think of social media as a supplement to networking, speaking, and writing. It can increase your visibility and credibility among those you already know.

All of these marketing strategies take time to master and don’t yield immediate results, but in my experience, the time and effort you put into them will reward your investment many times over.

Perhaps the biggest mistake you can make in marketing your professional services is implementing these activities randomly and superficially. For success, you need to do all of them regularly and frequently. And for that you need a solid, step-by-step plan.

Cheers, Robert

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Source by Robert Middleton

Views: 1

November 12, 2022
How To Tell If Someone Is An Entrepreneur
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One thing defines an entrepreneur – constructive action.

Typically, they’re the salesman – doing *everything* to get people to buy their stuff. We all have the image in our heads; the “wheeler-dealer”, picking any opportunity to try and exploit (and other people) for profit.

Indeed, the term “entrepreneur” seems to have drifted around the present lexicon – from “something you did” (typically to improve people’s lives) into a blend of “money mad hustler” and “someone who doesn’t ‘follow the rules’”.

The reality is the modern meaning could not be further from the truth.

Entrepreneurship isn’t a vocation or job. It’s not a label which you apply to yourself in order to make yourself more endearing to a particular party, or clientele… it’s a way of doing things.

Many “entrepreneurial” types actually have jobs. They’ll never admit they are “entrepreneurs”, although they exhibit all the traits of one. The question is what these traits are, and whether you – or someone you know – has them.

What Is An “Entrepeneur”?

Entrepreneur is a word derived from French – loosely describing a “problem solver”.

Whilst its connotation has changed over the years, the premise persists – an “entrepreneur” is someone who creates a “widget” and has the ability to encourage other people to buy it.

What this “widget” is can be a commercial product, service or idea.

It’s actually interesting… some of the greatest “entrepreneurs” of history actually had nothing to do with money. They were completely focused on the development of a particular “result” and committed themselves whole-heartedly to its realization.

Whether this meant conquering the Persian empire (Alexander), developing the light bulb (Edison) or creating stable PC systems (Gary Kildall), conquering the Aztec empire (Cortez), the term “entrepreneur” really denotes someone who wants to build something.

The BIG difference between “original” entrepreneurs and the swathes of new-age idiots (who typically aggrandize a hedonistic lifestyle + seem to have an infatuation for “crypto”) is that the former were typically committed to a single profession, and manage to “leverage” that through the development of increasingly ambitious “projects”.

These projects could be anything… but they all had a core “reason” to exist. This reason was what drove the originator to pursue the endeavour, and continue even when it was questionable whether it was even “possible” or not. Obviously, the reason we remember them is that they not only discovered it was “possible”, but entirely feasible… hence their success.

How To Tell If Someone Is One

The typical sign is they will do strange things…
- interest in esoteric ideas
- pursuit of interests not directly correlated to the accumulation of wealth
- strong displays of passion for particular subjects
- immersive nature with different ideas (trying to recreate historical events etc)
The point is that REAL entrepreneurs are not typically concerned about money at all.

Their primary concern is the creation of a “thing”. What that thing is, is determined by either their character or interests… but in every instance of someone who’s achieved a large amount of success, they were completely and utterly focused on doing “their” thing no matter what.

This is actually important.

The modern world seems to have every 18 year old male wanting to be an “entrepreneur” – like it’s a badge of honour or something. If you’re not “growing”, you’re “dying”… right?

The truth is that our society has become so focused on convenience that the majority of these money-grabbing idiots have absolutely no business even considering themselves “entrepreneurs”.

They have no experience, no skills and are only latching onto the latest “fad” in order to escape the mediocrity which has come to pervade the West’s consumerist culture.

Entrepreneurship typically follows YEARS of interest in a particular subject. It typically follows HUGE investments of time & energy into the cultivation of a skill set, experience and “involvement” in a particular space.

Most importantly – entrepreneurship is about doing something “your way”.

Stay Clear Of Modern Idiots

The BIGGEST problem I continually see from the hoards of idiots is they are ALL following a “book” or some other “rules” on “how” to be an entrepreneur.

I see it all the time… guys reading all the biographies, neural studies, latest books from the big wealthy fat cat – all trying to discover the “secret” to massive success.

What’s ironic is that all of this stuff just works on the “outside” of the issue – the same people who read all the “stuff” end up with the SAME questions… “what do I sell?”- “how do I know if I’m going to make money on a product?” – “what’s the secret to getting rich?”.
- If you have to ask “what do I sell”, you’re not an entrepreneur.
- If you have to listen to what a “successful” person has to say on a subject, you’re not an entrepreneur.
- If you have to consider all the “rules” put forward by others, you’re not an entrepreneur.
The point is that the modern world is chock-full of wannabe losers. Even the “successful” ones aren’t actually truly successful – they may have made a bunch of money, but what did they actually achieve? The answer is relatively little (or even nothing).

The truth is that if you want to “be” an entrepreneur, you have to get to work.

EVERYBODY has their own work. Some are models. Some are footballers. Some are computer programmers. Some are painters.

The “trick” is to do ANYTHING in order to get moving forward in an industry; clean the floors if necessary.

Once you start to gain some progress, the “entrepreneurial” stuff comes from leveraging any progress made within it – either to create & market a product, or to help a market better appreciate the potential of another device/product.

Traits Of “Real” Entrepreneurs
- Quiet (or at least reserved)
- Fully capable of embracing failure (indeed, using it as a spur to change/adapt)
- Working constantly on different elements within their “industry” (again, everyone has a place)
- Unafraid of social constructs (just because someone said it doesn’t make it true)
- Laser focused on what “they” want to do (you want to bring sustainable farming to Africa? This is the type of thing a “real” entrepreneur will actually do)
- Unafraid to give freely (most “entrepreneur” types are not attached to money at all… typically not having much until they find mercantile success)
If you haven’t worked it out, the core is purpose.

The modern world has very little emphasis on purpose; rather it focuses on productivity.

Nothing wrong with this, but it devoids most people of their passion. It’s good for GDP and McDonald’s – but bad for the creativity lying latent within a large number of people.

If you want to adopt “entrepreneurial” traits, the key is to become attuned to a particular “purpose” – through which you’re able to invest your entire life.

If you’re just looking at Ferrari’s and thinking that you “kind of want to become rich” – entrepreneurship is not going to do that. It’s a very difficult road, with only the most persistent and enduring surviving.

You need to get to work, and only then will you discover hidden opportunities into which you’re able to apply your expertise, experience or network to build something of real value to the world. This real value is then absorbed by the market, who’ll either pay handsomly for it – or reject it. This is pretty-much what determines whether someone could be considered an “entrepreneur” or not.

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Source by Richard Peck

Views: 0
November 11, 2022
4 Little Understood Tricks to Ending Up Being a Successful Affiliate Online Marketer

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Affiliate marketing company has actually gotten a great deal of buzz in current times due to advances in web innovations and upswing of social networks channels like Facebook, Twitter, LinkedIn and so on

Some affiliate online marketers particularly novices battle to make successfully due to the fact that they do not completely comprehend the service.

WHAT REALLY IS AFFILIATE MARKETING?

Affiliate Marketing is the procedure of making online commissions by promoting product or services. Your commissions are made each time you get a lead (Possible client) or offer items online.The fascinating element of affiliate marketing service is that you can make a lots of cash with a little financial investment.

You can begin the company without items or services of your own, work from house and make passive earnings even while sleeping if you have an efficient system in location.

HOW DOES AFFILIATE MARKETING WORK

Register under the affiliate program of credible business that have important services and products.

Get your custom-made affiliate tracking link for each item you choose to promote online.

Select the ideal traffic source to utilize in promoting the item.

Select the specific niche items to concentrate on.

Pick the marketing method to utilize I.e Blogging, video or social networks marketing.

4 MAJOR WINNING STRATEGIES TO BOOST YOUR REVENUES ONLINE

Concentrate on a single specific niche at a time

This allows you to quickly encourage your consumers to purchase your items. This will enable you to find out and obtain brand-new selling techniques that will increase your sales and increase your revenues.

Select traffic sources

It is suggested to concentrate on 2 traffic sources at a time. I will advise concentrating on one online search engine and one social networks traffic at a time. This allows you to appropriately track and enhance projects released on each platform consequently optimizing your revenues per product.The trick of incredibly affiliates is their capability to concentrate on a traffic source, screening and tracking projects efficiently.

Test marketing technique to utilize

You can never ever understand if either blogging, social networks or video marketing will be most rewarding till you evaluate marketing techniques such as:

Track the data/results received from each of the approaches then you concentrate on the technique that produces the best earnings.

Video marketing; You can make a video explaining the functions of the item then you publish it on YouTube for individuals to view.

Blogging: You can compose a post utilizing well research study keywords for SEO. This attracts your customers to your blog site and triggers them to decide.

Social Network Marketing: This is the commonest and the simplest approach particularly for novices. Facebook is a great platform since it has great deals of groups/forums where you can discover individuals who have an interest in your services and product. You can quickly send them a pal demand and pitch your items to them.

Select the traffic type

Paid traffic includes utilizing Pay per click or Pay per view marketing on online search engine and social networks platforms. This technique is much faster, related to increased conversion and earnings due to the fact that it enables you to target your customers particularly based upon interests and other functions.

The traffic type can either be totally free or paid traffic.

Complimentary traffic includes SEO, social networks groups, and short article marketing. The downside of this technique is that it does not permit you to target your customer based upon their interests and demographics.

Learn more about how to become a successful affiliate marketer.

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Source by Juan C Ruiz

Views: 0

November 11, 2022
What is the Difference Between Direct Sales & Multi-Level Marketing

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Multi-level marketing is one of the most popular ways in which anyone can start their own home based global business. It is a dynamic business model that has created many millionaires in the past, present and will no doubt continue to do so in the future. Just a small percentage of the world wide market spend every day would give anybody the opportunity to transform their lives.

The business model usually has unique products or services, complete with a ready made website on offer, allowing each distributor an independent opportunity to build their own six figure income business at an incredibly low start up cost. Naturally that is an attractive business model to most people new to the world of business ownership and is a fast, usually low cost way in which to start working part-time on a business that can replace your working income in a short to medium term timescale.

As the saying goes, it if was easy, everyone would be successful and a common misconception seems to be if one person thinks it is a great idea surely thousands of others will too. Whether or not you believe the internet has changed the way in which business will be carried out in the future or not, when broadband started to deliver information in seconds all over the world the way in which people can become well informed about the unknown changed everything.

The multi-level marketing business model changed when the unique products and services became available from almost everywhere online. This creates several problems that can be difficult to overcome. Distributors struggle to be able to get customers in sufficient numbers but even more importantly the business model relies on leveraging the efforts of many levels of distributors in order to create the residual income element most people spend years trying to achieve.

Direct sales has been around for a very long time and is the based around selling high ticket products, services and experiences which command higher margins and upfront commissions and are increasingly becoming a viable alternative to multi-level marketing.

In the offline marketplace Direct Sales business models are commonplace, ranging from mortgages and other financial products, through cars and designer clothing all the way down to log cabins and fitted kitchens. The equivalent online usually offers unique information that has to be of extraordinary value for it to survive and compete with the more popular multi-level marketing industry. The most successful are linked to building wealth and being able to create an alternative lifestyle.

For most people looking to create a residual income online or offline in the network marketing world there is now even more choice with a much higher chance of early profitability than ever before.

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Source by Diane Cossie

Views: 0

November 10, 2022
Are You Letting Excuses Keep You From Becoming a Top Network Marketer?

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Things that are easy to do are easy not to do. In this article, I am going to talk to you about excuses and how they may be keeping you from becoming a top network marketer.

We all have our moments when we don't feel like doing certain things. We are professionals at making excuses for why we don't do these things, but the thing we must remember is that being a professional at making excuses does not pay the bills.
Two of the biggest excuses people have are the excuses that they do not have enough time or money. These are easy excuses to use because they are often true in our current state but do not have to remain true.

I Don't Have the Time

If you do not currently have the time to build your business, that is because you have not allocated the time to build your business. There are other things that are filling your time that you could choose not to do but instead, you choose to do them. Many times, these things are important things but if you say you want to build a business, but you do not schedule it into your week, you are not showing you believe it is that important.

I Don't Have the Connections

Our capital in our network marketing companies are our connections and oftentimes people think they do not have the right connections. Even if this is true, we all have the same access to everyone and if we are resourceful enough, we will be able to get in contact with that person.

Conclusion

Whatever excuses are holding you back, you must give them up and get into action. Excuses don't help you get what you want so give them up and work consistently toward your goals.

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Source by Jessica Lauren Vine

Views: 0

November 10, 2022
Problems Encountered by Nigerian Entrepreneur and Possible Solutions

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The success enjoyed by most industrialized countries can be attributed to the role played by technological innovation and entrepreneurship, both of which continue to drive their economies today. These two factors are seen as key components for the industrialization and development of African countries. The Nigerian government has recognized this fact and has taken measures aimed at promoting and cultivating the entrepreneurial culture in our country. Through the Nigerian Investing Commission (NIC), our government has in the past introduced a policy that required university students regardless of their area of study to take courses in entrepreneurship. While our government is putting extra effort in promoting entrepreneurship in Nigeria, there are still a number of problems that a Nigerian Entrepreneur faces. Below are some of the problems encountered and possible solutions.

* Diversifying the Economy

Though our country’s economy has over the last couple of decades relied heavily on its oil production, we must find ways to diversify our economy and avoid the over reliance on oil. Like other developing countries, Nigeria is facing an increase in its unemployment rate that is now at 6 % and is on the increase, with many graduates finding it hard to get jobs while most of those who get jobs are underemployed. This coupled with the global financial crisis in which massive numbers of employees are being laid off; entrepreneurship is seen as an essential key if we want our country to achieve its ambition of being an industrialized nation by the year 2020.

* Unfriendly Business Climate

Being an entrepreneur in Nigeria requires great determination as practicing and potential business owners are faced with countless challenges. Nigerian’s business climate should be made welcoming to those in the Micro, Small and Medium Enterprises (MSMEs). The role played by these MSMEs should not be underestimated since majority of the thriving businesses fall in this category and for us to achieve our goals, adequate attention and support must be directed towards these institutions. To be able to help and protect entrepreneurs, we must first have a clear idea of the challenges facing our entrepreneurs in their pursuit of making Nigeria a prosperous country.

* Lack of Credit Facilities

Potential Nigeria entrepreneurs go through many hardships when trying to access credit for their businesses. Though there is a wide range of financial institutions that offer business loans, they usually charge high interest rates deterring aspiring entrepreneurs. For instance, major banks have pegged their lending rates to as much a 28% deterring potential entrepreneurs who are mostly low income earners. Other obstacles faced by our entrepreneurs include severe collateral conditions set by banks and other lending institutions. Though our government through the Central Bank and the Banker’s Committee came up with guidelines requiring banks to set aside 10% of their profits for funding MSMEs, majority of these banks have been reluctant to do so. This has led to the emergence of micro-finance institutions which though helpful are not sufficient for meeting the financial requirements.

* Multiple Taxation

One other sensitive challenge that is encountered by majority of Nigerian entrepreneurs is multiple taxation. Although we have a responsibility of funding the government through paying taxes, most of the taxes charged on entrepreneurs are not lawful and have the effect of increasing the cost of doing business. Although Nigeria’s Companies Income Tax Act (CITA) has approved only 39 taxes and levies, there are over 500 various levies and taxes that are imposed by state and local government agents. These taxes are questionable and in the case where they are genuine, they are mostly duplicated and this has the effect of increasing the cost of doing business.

* Poor State of the Country’s Infrastructure

The state of our infrastructure can be deemed to be a nightmare to both entrepreneurs and the rest of the country’s population. With the existing infrastructure deteriorating and in some places it is non-existent; the cost of doing business has tremendously gone up. The state of the country’s road network makes it hard for entrepreneurs in the agricultural sector to transport harvested produce from farms to processing factories. According to a report released by the World Bank, Nigeria’s pace of socioeconomic development and growth is way below what we can achieve. This is mostly because of the erratic supply of electricity which has negatively affected many businesses. The outcome of power problems has prompted entrepreneurs to generate power through expensive ways that have in turn increased their production costs and made their products uncompetitive due to high prices. Our government should put policies in place to perk up Nigeria’s infrastructure so as to promote successful entrepreneurship.

* Failure to Adapt to the Changing Business Environment

Majority of those who venture into MSMEs (Micro, Small and Medium Enterprises) do so because of their need to make money and in almost all cases, such entrepreneurs lack relevant and adequate information about the businesses they engage in. In the event where problems arise, most of these business owners lack sufficient problem solving skills and in the end they find it hard to survive. With the telecommunications sector having grown by about 206.5 % between 2002 and 2004 and is continually expanding, Nigeria has become one of the fastest growing ICT market not only in Africa but also worldwide. This presents a challenge to entrepreneurs who have not embraced technology, and who are now finding it hard to remain relevant in the competitive business environment. For existing and potential MSMEs to survive and be relevant, we must adapt to the changing business environment and embrace technology.

* Addressing the Challenges

Solving the problems encountered requires a combined effort by both the entrepreneur and all concerned stakeholders. As Small and medium business owners, we need to increase our knowledge and skills of the market by acquiring relevant and up to date education particularly in your area of business. Our entrepreneurs need to collect information about their target market by seeking help from consultants and professionals who have experience in the particular market.

One strategy that can be used by our small and medium entrepreneurs to remain relevant and competitive in today’s market is to come up with fresh and creative ideas of doing business. Due to the increase in technology, business is fast changing, thus our MSMEs need to constantly re-invent the way they do business.

There is a great need of creating a strong link between MSMEs and supporting institutions if Nigeria is to fully benefit from such businesses. Though some financial institutions are still reluctant to provide financial assistance to MSMEs, there are some that give out loans at reasonable rates provided the business sounds viable. The key challenge is for our entrepreneurs to prepare sound business proposals. For our country to achieve its goals and stop relying on oil alone, we need to focus much attention needs on the private sector and our government must create a conducive atmosphere for such businesses to thrive and drive the country towards economic prosperity.

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Source by Peter O Osalor

Views: 0

November 9, 2022
A Critical Review of IsXpera Multi-Level Marketing Business

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IsXperia is an MLM enterprise that is making a little bit of noise out there. I know you are reading this because you're considering signing up with them or your are already part of IsXperia Network marketing venture and you are searching for a way to build your enterprise very quick. You have come to right page. You will find few measuring standards that we use to evaluate any Network marketing corporations out there. We will examine their leadership, the product and services that they offer and finally the best way to make with this Network marketing business opportunity.

IsXperia Leadership Examination:

You must examine the leadership of any MLM Network marketing corporation prior to deciding to decide to join them. Ok, i'll just say that I do not know the founders of IsXperia personally. But from what I an gather about them, they are people of integrity. The founders, Christopher Bratta, Gina Bratta surround themselves with well known leaders in the MLM Multilevel marketing Industry. The leadership of this company should not be a reason not to join.

IsXperia Product Review: Pro

This company markets varieties of products out there. The products that they are advertising includes Boykin (skin products), Vital Xpression (Energy supplements), Body Xpression (For treating cellulite) and XpressSunTravel (become a travel agent), and finally id180. With id180, this enterprise will build your site for you and they're going to help you host it. They have a lot more multiple products coming out. One positive aspect of this company is that the products and services are somewhat sellable and diverse.

IsXperia Product Examination: Con

Not having a doubt, diversity is a fantastic thing. On the other hand, too much diversity (Business speaking) can certainly be a negative thing for almost any venture. As you have likely observed from this enterprise, they market skin products, traveling packages and they are also doing web hosting. This has the potential of confusing any new prospects out there and you losing focus.

Another negative that I see with IsXperia is that their products are overpriced in my opinion. You might go to their website and check the prices. I mean it will cost you almost $ 1000 web hosting setup services and $ 50 recurring bill every month. The traveling package will charge you $ 399 plus recurring $ 39.95.

IsXperia Analysis: Success Secrets

Make no mistake about it, you might absolutely money with IsXperia only in the event you know how to do the following things

1. You have to discover ways to market. What do you think you're marketing? You are marketing You. Folks will do business with folks. You must be a man or woman of value. Pitching your IsXperia business to family, friends and strangers at the mall won't work. Trust me on that. As matter of fact, your loved ones and friends will be your largest critic. Invest in yourself. Read motivational books and play the audio book as well. Have value. Always learn new things. Be a leader. Folks will follow you whenever you are a leader.

2. Learn to create leads. This really is folks venture at the end of the day. You need to be chatting to at least 30 individuals everyday and connecting with them. In the event you choose to buy these leads, you'll go out of cash. Create your own MLM leads with an internet self branded MLM lead generation system. Your business will grow very quick in the event you learn to do this.

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Source by Wole Lawrence

Views: 1

July 30, 2022
Advantages and Disadvantages of Multi Level Marketing

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Multi Level Marketing has been a popular way to make money for years. People get involved in MLM as it brings amazing income potential. However becoming successful in MLM isn’t easy and requires some effort and finding right people to work with as it’s pretty much about building relationships.

MLM is any business where payouts are made at two or more levels deep. The concept of MLM is quite traditional and it’s about building your downline in genealogy form where usually you benefit from all levels and branches of your genealogy tree.

MLM is attractive, however it requires from marketer to take different approach than in any other form of marketing and selling.

The reason is that unlike in traditional marketing where it comes to sell products, the main point of MLM marketing is rather selling hope and encouragement to become successful marketer to other people.

That’s why Multi Level Marketing is considered relationships business, not sales business. What it means is that in order to become successful, you need to find the right people who will join your downline and duplicate the steps you have taken to make money. While in many MLM companies you are limited to benefit from referring new members and building your genealogy tree, the other ones also involve product sales as an additional option to make money from your team building efforts.

When the sales are involved usually your job will be to recruit distributors who recruit more and more distributors infinite levels deep. The sales generated by all of them count toward your commission. So the rule is simple the larger the network of distributors built the more sales can be generated and more commissions can be earned.

The final question is: Is MLM marketing good business model for everyone?

Well it depends on the level of one’s experience and motivation.

The advantage of MLM is that it’s very effective and profitable form of marketing where success is result of consistent work and effort put by more than one person.

Where many people put their efforts and take action together to build their MLM business the income potential increases amazingly and can grow to the really high level over the years or even months.

Another benefit is that when you manage to build a team of motivated and good marketers you may get to the point where they will be doing all the job for you so that you’ll be able to benefit from your teamwork at minimum effort on your part.

However to get desired results in MLM marketing it takes some time, effort, proper knowledge and skills.

Building relationships and profitable team is a long process and requires a lot of patience, time and money investment.

The main problem here is to get the right marketers into your genealogy. The skepticism is lurking around nowadays and many people don’t believe in success on the Internet.

The job that has to be done is to show them that it is possible, encourage them to join your business and finally make them take action and duplicate the required steps.

That’s why mastering great communication skills is essential. Another thing that might be difficult is mentoring people.

When you finally manage to build your organization, you need to become a mentor who has the knowledge that will help your team members become successful as well. That’s why learning everything about the MLM business you are in is important as you will need to pass this knowledge forward to your organization members.

MLM business is really effective marketing model and may become your source of steady and solid income as long as you take it seriously and do consistently what is necessary to build your team.

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Source by Daniel Gebura

Views: 1

July 30, 2022
Should You Have a Facebook Page As a Network Marketer?

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When you are working to become a network marketing top earner, you may think you need a Facebook page. You see the “big dogs” of network marketing and you see they have Facebook pages but in this article, I am going to talk to you more about whether you should have a Facebook page or not.

Newsfeed

Do you notice in the newsfeed that you do not see many Facebook pages updates unless they are sponsored? This is because Facebook wants businesses to pay to promote their content. This means whenever you post on your page, you are not going to get “organic” reach on your posts.

If you want people to see them, you need to pay.

Unless you want to create generate content for other network marketers and do coaching, it is perfectly fine to continue using your Facebook profile and not have a page.

Not Easy to Duplicate

Your team may find it difficult to run so many pages and keep up with everything, so it is difficult to duplicate. When you are working in network marketing, you want to keep it as simple as possible. Just having a profile to post to keeps things simple and your team will be able to do that without a lot of difficulties.

Conclusion

As you can see, it is a good idea to keep things simple and most of the time you do not want to create a Facebook page. If you must do it, make sure it is for good reasons and not just because someone else is doing it.

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Source by Jessica Lauren Vine

Views: 0

July 29, 2022
Successful Entrepreneurship – Cracking the Code

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We've heard stories of penniless immigrants who came to Canada with nothing but a dream, but within a single generation accumulate a lot of wealth. How do they do it?

This is a mystery to the typical person who graduates with a post-secondary education and goes on to work in the labor force as an employee (ie, most people!). This is because our educational system specifically trains its students to become employees rather than entrepreneurs.

So when we hear about these rags to riches stories, we ask ourselves – "how did they do it?" As someone who grew up in an entrepreneurial household, here is my take on Cracking the Code to Successful Entrepreneurship:

1. In most cases, one will never become truly financially independent working as an employee. Whether you are an entry-level bookkeeper or the CEO of a large organization, you can be unexpectedly fired at a whim by whoever you report to. You are therefore susceptible to financial catastrophe.

2. Therefore, the only way to achieve financial independence is to build and maintain a successful business.

3. There is a "magic formula" that will allow to evaluate a businesses' odds of success:

[( Sale price of product – Variable cost of product) x Units sold] – Fixed Overhead Costs = Profit

This formula will be very familiar to accountants – it's called the Contribution Margin Ratio.

Let's demonstrate this formula using a Bubble Tea business. Wonder why there are so many Bubble Tea shops in Toronto? Because they make a heck of a lot of money with little risk:

Price per bubble tea drink – $ 4.00

Cost to make per drink (water, powder, sugar) – $ 0.50

Drink sales per month assuming 100 sold per day – 3,000

Monthly rent for shop – $ 3,000

· Assume no labor costs – in the early years, the owners will work the shop themselves

· [($ 4.00 – $ 0.50) x 3,000] = $ 10,500 in sales

· Profit after paying rent: $ 10,500 – $ 3,000 = $ 7,500

Once you apply this formula to the multinational soft drink companies to analyze their beverage businesses, you can begin to understand why soft-drinks companies have grown from humble beginnings to global companies they are today.

You can also use this formula to evaluate almost any small business you might be thinking of getting into: restaurant, nail salon, hair salon. You should quickly realize that it's best to choose businesses with a high profit margin (ie, high selling price for produce / service and low cost of supplying the product / service) and high customer traffic (ie, units sold, people serviced).

Seeing the Future – Cash Flow Projection

You want to know if you'll be making a profit before going any further. If you skip this step, your chances of failing increase significantly.

Investigate your costs to start up and run your business. The most common are:

· Rent – how much will it cost to rent at the location where you want to set up?

· Wages and payroll tax – will you need employees or can your run the business yourself? How much do you need to pay yourself to meet your personal living costs?

· Advertising costs – what types of advertising will you use – TV, radio, internet – and what is their cost versus their potential return on investment?

· Cost of inventory or raw materials – will these be imported? If yes, you'll need to factor in the impact of exchange rates on your profitability.

· Purchase of equipment – general office equipment like a phone system, computers and IT network, and furniture, as well as specialized equipment for your specific line of business like restaurant equipment (if you're opening up a restaurant).

· Business liability insurance – to protect yourself from liability if someone is inadvertently harmed by your product or service, or if someone is injured on your premises.

· Pricing – how much will you be able to sell your product or service so that's it's competitive with others in your line of business

Once you've figured out your monthly costs (ie, your overhead) and pricing, you're now in the position to determine how many unit sales you need to make to breakeven – remember the Contribution Margin Ratio that we looked at. Use a spreadsheet to build a cash-flow projection model.

Protecting Yourself – Creditor Proofing

If things don't work out for your business you could be financially ruined. Therefore, consider the following techniques to protect your personal assets from your business creditors.

1. Incorporate the business. This will provide you with a level of creditor protection – most of a corporation's obligations are limited to its assets so this structure can provide protection for personal assets. This structure also has income tax benefits, which will not be discussed here.

2. Always pay statutory debt on time, specifically:

· Payroll source deductions;

· Federal and provincial sales tax collected; and

· Employee wages and vacation payable.

Corporate directors can be personally responsible for these debts, notwithstanding that the business is incorporated. In many incorporated small businesses, the shareholder (ie, the business owner) and director are the same person.

3. If you can, avoid giving personal guarantees of your corporation's business obligations (eg, landlord, suppliers) unless it is absolutely necessary.

You will need a financial expert on your team to deal with the issues raised in this article. Therefore, I would strongly advise that you contact a CPA who can help you further.

For all you aspiring entrepreneurs out there, I hope that I've helped take out some of the "mystery" behind successful entrepreneurship. Use this tool wisely and never stop dreaming!

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Source by Victor Fong

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July 29, 2022