Donald Trump and Robert Kiyosaki endorse networking as a business. Do you have what it takes for this industry?

So you want to start a home based business now what?

You have made the decision to become an entreprenuer and start a home based business but with so many different comensation plans, products, established companies and start up businesses the choice can become a daunting task.

If you have been searching you will hear over and over again about all the money you can make in MLM, or network marketing. Yes, it is true you can achieve financial freedom in this industry however; why is it that only about 3% actually achieve the financial freedom when the other 97% either burn out or move on to the next latest greatest business opportunity.

So how do you become the MLM success story instead of the people who scream MLM is a scam. First MLM isn’t a scam to paraphrase J. Paul Getty give me 100 people giving 1% effort instead of me doing 100% effort. In essense you create leverage and when done properly it is a successful business realtionship for you and the people you attract to your home based business.

Here are some things I have learned over the past 3 years in this industry why people fail in MLM. They don’t understand the industry, they quit too soon, they fail to make a game plan, and lastly they really didn’t have the proper mindset to become an entreprenuer.

I talk every week to people who don’t even realize they are in MLM because it has gotten the reputation of being a scam when the opposite is true. So why is scam associated with MLM because most people are presented this industry as work from home. It isn’t a job it is a business and like any other business you don’t get a weekly paycheck. Now to the entreprenuer that is a great thing because they want what MLM actually does produce and that is the ability to write your own paycheck. You will hear people use that as a way to get you to look at their home based business opportunity but what you need to do is fill in the blank. Yes, you can write you own paycheck but you have to put the work, time, passion and effort into it before you see a paycheck.

So before you “fire your boss” realize you are starting a business and there will be some costs but when you compare it to starting a “brick and motar” business the costs are minimual. So realize there will be a start up expensise and probably some monthly expensises but this is a business not a job. Which brings me to another thing a lot of people don’t understand about this industry it isn’t for everyone. Now when you join a home based business they will tell you to start by sharing the model with your friends and family. Honestly that is what we are paid for advertising and marketing the business opportunity so letting your friends and family know you are now involved in ABC business makes sense but don’t expect them all to sign up. Not everyone is drawn to self employment and even if they are inclined to be self employed they might not want to be in the business you have choosen. Too often people become desperate to build a team and they don’t interview the person who wants to be on their team. They need to realize this is a business, they will be some expenses and also a time commitment on their part. So if you start looking for business parters instead of just trying to “tell and sell” everyone on becoming a business owner and make large money you will grow a team of motivated business partners.

Often people start out very excited and tell everyone they know how great their business opportunity is and how much money they will be making. Then when they don’t see instant results and their friends and family tell them when you make money I’ll join they often quit. However; there are those who put up flyers, place free classified ads, do some social networking and still make the mistake of quitting too soon. You need to plant those seeds and let them grow. Now you might need to look at your “game plan” to make sure it is working. Which actually brings me to another reason people fail to succeed in MLM they don’t even have a game plan.

Imagine if you were starting a business would you just one day say I want to own a shoe store or restaruant for example and not create a business plan and model. Why do people think in the home based business industry they don’t need to create a business plan and model? You need to make goals and have a plan of daily, weekly and monthly activities to achieve success. If you study the one’s who succeed in any business you will find they have set goals and created a blue print for achieving those goals. This is your business so you need to find how you want to market your business and then go into action. For some people that might mean working only 5 hours a week others might be able to put more time into their business but I will tell you it is one of the major attractions for me personally to start a home based business verses a “brick and mortar” business.

If you choose to open a store or restaurant you need to be there during the hours of operation or hire someone to be there during business hours. In additon when the place is close you still need to be working on things as inventory, bookkeeping, stocking and the list goes on. With a home based business you do get the freedom to pick you hours but you still need to put time into your business in order to make it grow. Often you won’t see a profit for a few weeks, months or maybe even a year depending on how you are working your business. Yet, if you look at a new store owner they realize that profits might not show up for 5 years and they might be working their business 40 to 60 or more hours a week. It always amazes me when someone starts a home based business and they think great now I have a website on the internet and the sales and signups will just appear without me doing any work or spending any money or advertising.

Which brings me to my final reason people don’t succeed in this industry they aren’t cut out to be entreprenuers. You need to have the correct mindset that you are the CEO of your business and work it as a professional. Even if you are only putting 5 hours a week into your home based business you need to run it professionally with your blueprint and goals as your objective. If you have money to spend on advertising great if not you need to learn effective and creative ways to advertise for free. Just remember what this industry rewards are people who know how to market the company they have choosen as their home based business.

In closing understand the industry. Make a game plan and test it long enough before you quit. Often you just need an adjustment or more time doing what you are doing to succeed. Too many people quit too soon because they don’t see immediate results when what they should be doing is continuing to work their game plan and make adjustments as they work on their marketing skills. Lastly are you really an entreprenuer? If you aren’t passionate about what you are doing how do you expect others to follow you? Remember it all begins with you having the proper mindset and seeing yourself as a success the results will follow.

Mary Ellen Popkin
SAHM, Professional Marketer,
Published Self Help Author and Creator of

http://www.MentorWithMaryEllen.com

Home Based Business http://www.TheGreatestBiz.com