Network Marketing – Support, Guidance and Advice
Hello! Welcome to the Waiting Room
Today’s topic is starting an online business
Regardless of whether you’re considering starting a business or want to move because you’re not happy with your current online business, the process is the same.
It is very important to thoroughly evaluate all aspects of the business before proceeding and, more importantly, before committing any money. If you’re not prepared to go to this effort and believe all the hype, you’re going the wrong way from the start.
If you’ve taken a quick look around the web, you’ll see countless examples of so-called opportunities that offer you a monthly income of $5,000.00 for a one-time payment of $49.95, give or take.
You’ll also see all the sales pitches, hype, and testimonials that are designed to convince you that these are once-in-a-lifetime opportunities and that new luxury car, vacation, and new home by the water are just a click away.
There are also offers that are much more expensive, where it will cost $2, 3 or $4000 to be part of the program and believing that because it is expensive in comparison, it must be good, does not necessarily follow.
There are two questions that should immediately come to mind;
I have been told all the positive aspects, are there negative aspects? Have I been told the whole story and the real facts?
If you can pay less than $50.00 and make an absolute fortune, why isn’t every second person I know doing exactly that?
The answer to the first question is most likely NO! and obviously the second is: Because it’s not that easy!
I am not suggesting that every online business opportunity on offer fits this mold, but I am saying very definitely that many, many do and there are more lies than truths told in online business marketing.
You’ve heard the old saying “Buyer Beware”, well that’s not bad advice.
On the plus side, there are real opportunities out there. None that I know of will make you a fortune overnight, but they will make you money if you are prepared to invest your time and money into “Building a Business”.
An online business is no different than any other. You have to apply yourself and run it like a business.
The obvious advantages are, there is no rental of premises, you can run it from home. You can manage it part-time and build it while continuing your primary job, maintaining an income until your business grows and replaces that source of income.
The ultimate goal is “Sack the Boss” and if you do it the right way, this is definitely a possibility.
OKAY! Let’s take a look at Getting Started in an Online Business.
1. What is the Business? What is the Concept?
How much do I know about the company/organization?
How can I find out more, or what I don’t know but need to know?
Is there a reliable source where I can ask questions and get answers?
Is there any history I can refer to?
Is it something I feel comfortable with?
Do I really believe in the products and/or services that I will represent?
Don’t make the mistake of “believing” for benefits or income possibilities. If you agree to something for the wrong reasons, you won’t compromise and will always look at the revenue aspect rather than the belief that you have a product or service that can be presented as good value for money and that your potential customers will appreciate. and accept
You are the only one who can make this trial worthwhile.
A. How much can I pay? How much is the initial investment?
There are situations where you can pay small amounts at the beginning of your involvement and pay additional funds within a set period (eg 30 days), however do not start a business unless you have the funds available to commit from the start .
B. Realistically what will be the “Return on my Investment”. How long will it take to recover my initial payment?
C. How will I pay the amount involved? If by credit card, make sure that when the bill arrives you can pay the balance due. If you are going to finance your purchase with a credit card, remember the very high interest rates that will apply and be sure to take them into account. It is a real cost.
D. Can I get details of the Compensation Plan?
E. Are there any hidden costs?
F. What do I get for my Money? What is the Package?
G. Is there a readily available and contactable source of information/support?
Budget 2.0
If you want to get an idea of what your costs will be in running the business, you need to establish a basic budget of expected expenses.
As an example, you will have to consider,
A. If a website is provided, it is free and hosting costs are included or additional.
B. Communication expenses – Telephone / Mobile. There are a number of opportunities to reduce these costs. (eg Skype, calling cards, etc.)
C. Are there samples and literature to be purchased, replenished?
D. Marketing/Advertising.
This is important as you will need to tell people of your existence and create a list of people to talk to as well. Will you use; Google.
This doesn’t have to be extremely expensive, but it does come at a cost and you should work at home with the Google AdWords site to get an idea of the likely costs that will apply in your particular market area. There’s no point in using Google if you don’t provide enough funds to allow you to contribute.
Advertising in newspapers.
Again, you’ll need to do some homework to determine how much your local or daily newspaper ads cost and how often they will be used.
Guides.
If you are going to buy leads they come at a cost and it is easy to spend $100.00 a week in this area. You should also be careful about some of the offers and the type of leads, as they are not always as good as they seem.
Marketing material/samples: if applicable.
There are a number of free newspaper-type sources of advertising on the web, but I have never found them all that successful.
Advertisements can be placed here at a cost. Any other costs associated with “being seen” and letting the market know of your existence. A simple yet realistic budget is important in promoting your business, otherwise it will fly out of the seat of your pants and you won’t really be able to allocate the necessary funds to support your business.
Many types of businesses have stagnated and never reached their potential simply because the funds to support and grow that business were never available or dried up before the business had a chance to establish itself.
It is important to understand that you do not need to commit large sums of money to be successful. You can competently grow your business according to the funds you have available. It is only necessary to define what those funds are!
Another word of warning. If you intend to start your business relying on the support of family, friends, and acquaintances to build and succeed, you are in for some disappointments. It doesn’t work, it’s a very limited market and if these contacts get together, it’s usually out of sympathy rather than enthusiasm and they’re not producers. You also tend to lose friends.
I’m not suggesting that you don’t tell this group what you’re doing, but let them ask you questions and come to you.
E. Support and Education
If it’s new, it’s very important, if it’s been around for a while, I think it still has value. I find it very helpful to talk to another person who is in a similar situation to compare notes and just “bounce” ideas and experiences.
Don’t underestimate the value of having a competent level of support and help when you need it. (It’s a bit like having “Spell Checker”) you know where you are but you need to have it confirmed and maybe corrected. It’s so beneficial to be able to talk, and I do mean talk, with someone who is approachable and knows the market you’re in (even if you’ve been around for a while, it can feel a bit lonely at times).
For someone you can “Talk Too” is the ideal situation, emails are fine but it’s not the same and chatting with someone who knows your market has special value. Do not take this lightly, in my opinion it is important!