Part-Time Business

Yesterday, I discussed ways to increase your income through a part-time business. Most of the discussion was why those businesses don't yield a lot of income. Today, we will get into how the opposite can be true.

Part of the problem with MLM companies is that they forget about the true purposes and natures of a business. Those are to make money and turn a profit. To do this, you must have customers that want your product or service and you find a way to make it available to them. This is where marketing comes in. A successful business not only gets customers, but focuses on retaining customers to ensure longevity. Most MLMs have a horrible retention, or holding onto existing customers and getting repeat business. This is why many MLMs don't last beyond a few years. The really successful ones get their customers to tell others about their business. Word of mouth advertising is still the most effective.

Well, I already hit on one of the main keys - providing something the consumer wants. MLM companies promote their business through part-time distributors that have no idea how to identify what people want. When they don't connect with their potential customers, they give up and quit the business. In order to understand what others want, you first have to listen intently. How many people actually do this in our "me first" society?

Rather than unloading verbally all over someone about an opportunity, you must find a want or need that you can fulfill. Then when you are providing a solution to their desire or problem, they want to become a customer. If they get attached to the product or service emotionally, they will want to become a distributor. Now, you have multiple people combining their time and energy working toward the same thing. This is called leverage. The more leverage you have, the more and faster your income comes in. Each person is not working for you, but for him or herself. But you working together have common resources, support, and goals. This is very important when you hit obstacles or challenges.

Now, wouldn't it be great if people actually came to you and told you that they want your product or service? This is only possible if they know you can provide their solution. This can be done so many ways, but many involve a significant expense. Some do not. When the business is starting, look for low cost means such as a website or conference call number or results of satisfied customers. You can use these over and over again. If you don't leverage your time as well, your business will not grow very fast and will not likely survive.

The key points are to focus on others and leverage your resources. The successful MLM companies teach their distributors how to do this from day 1. Think of the things that you want. Is it likely that others will want those same things? Like time freedom, financial security, friends, travel opportunities, health, great lifestyle, etc. Effective marketing focuses on providing the things people want to the company or people that can provide them. Then, they come to you!

Another advantage of having a part-time business, you can begin learning about all the tax incentives businesses have that people do not. I will get more into this tomorrow.

Make it your ambition to lead a quiet life, to mind your own business and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody. I Thessalonians 4:11-12

If you have comments or questions, please feel free to contact me at the address below.
Email: DeltaInspire@panama-vo.com