7 Critical Steps You Should Take Before Investing in a Business

Are you considering starting an Online Business? Maybe you already have one. Is it everything you hoped it would be? Chances are it’s not.

With so many online opportunities available, such as network marketing and MLM companies, there’s a multitude of ways to make money. However, I believe more people lose money and more easily when it comes to these types of programs. Am I against them? Read on to find out.

If you have been trying to make a living online or just wanted to earn a little extra money, there’s a good chance, you’re failing. It sounds harsh, but it’s true. If you’re only beginning you’re probably in the, “I’m so excited” newbie stage and just don’t know any better yet. If you’ve invested in one of the thousands of opportunities out there and you’ve been working at it for more than a month or so, I’ll bet you’re in the “frustrated and asking yourself, ‘Is this really going to work’?” stage.

Don’t feel bad. You’re not alone. There is a 97% failure rate for people trying to make money online. I talk to people all the time who’ve spent thousands of dollars, and not made a dime. It’s very sad.

Why do you think this is? What is it about the Internet that makes people so willing to throw money at every opportunity that comes along? Why is it that only three percent people make real money?

I have a few different theories. To begin with, to most people running an online business is uncharted territory. “Any expert” can say “anything.” Many of these ‘experts’ claim to make money when in reality they’re not. Innocent people believe them, and join, only to find it was all hype! Worst of all, the person who signed them up doesn’t know any more about running an online business than they do.

The other big “issue” is the crazy assumption that people think they can become wealthy or make millions by investing in a “low start up cost” business. They think, “Oh well, its only $100 so if I lose it, it won’t be so bad.” If you go into a business with that attitude you will lose it. Most people I’ve talked to have invested small amounts in at least five or six different opportunities and never made a dime. Believe me, it adds up very quickly.

CASH is KING! Yes, I said it. You need cash flow to keep your business going. Don’t get me wrong. There are some great ways to market your business online for free. But, YOU NEED CASH FLOW! Without it, you’re dead in the water, or should I say, “dead on the web”?

Last but not least, Attitude is key! You have to go in knowing it will take hard work. There will be failures, and success doesn’t happen overnight. Interestingly enough, research shows that most people quit after three weeks.

The Internet is amazing. It has made the world a much smaller place and created many opportunities to create wealth, but come on people! It’s not magic! Treat your Internet business as you would a “real” business and you will find success.

The Keys To Online Success:

1) The right program or product. Do your homework on this one. Visit sites like MLM Watchdog. If there’s something negative on the business, it will be on Watch Dog. (I have no connection to Watch Dog in any way, nor am I a member).

2) Make sure it’s a product people want. If it was to sell at a store, would people buy it? Would you be proud to tell your friends and family about it? How long has the company been in business? Google the company and find out as much about them as you can. Check the Better Business Bureau too.

3) Who is your sponsor? Do you like them? Can you trust them? It’s hard to tell from just a phone call. Ask to speak to a few of their members and someone who is directly signed up under them. Try to get some form of proof of their success. Google their name. You’d be surprised at what you can discover. Remember, this is the person you’re counting on to help you succeed.

4) What kind of marketing system do they have in place? How do they get their leads? How much do you have to pay to get your own website? Will you have to make your site on your own or will they provide it? Do they provide training?

5) How do you get paid? What is the pay plan? Is there residual income?

6) How much more will it cost (in addition to the program itself) to stay in? Will you have to order products monthly or keep an inventory? How much will it cost to use their corporate website? Do they have customer service?

7) Finally, will you enjoy being a part of this program? Life is too short to do something you don’t enjoy.

The Internet is an incredible place to earn a living and I know that online network marketing is one of the best ways. It has changed the face of business forever. Never in history has there been so many people working from home running their own business. The thought of having a 15 second commute in your PJ’s is a pretty good one.

You “can” make a living online. Just make sure you do your due diligence and when you do find an online business, stick to it. If you have done your homework and it is a legitimate and honest business, you will succeed, as long as you just stick to it.

Online Business – Stick At It!

I’m writing this article on a Friday, the start of the weekend.

Now, I make no secret of the fact that I love sport and the best time to enjoy the majority of sport, certainly in the UK, is at the weekend.

This is when many people make the most of the opportunity to enjoy themselves – spending time with family and friends, watching sport, going for a walk etc.

At this time of year it is Golf and Cricket that I particularly enjoy. I still play golf but my cricket is now confined to umpiring and the occasional bounce game.
What has this got to do with online business, I hear you ask. Well…

I also know that some people use their weekends to work on their online business. This is particularly true for those who are trying to set up their internet business in addition to their other employment. I know it can be a struggle to do this – it often feels like there aren’t enough hours in the week!

It isn’t an easy path and there will be lots of obstacles to overcome. Unfortunately, many people don’t appreciate this and as a result they soon become disillusioned.

I think that’s the reason why the following phrase is quite common amongst would be online business entrepreneurs – “I’ve tried that and it doesn’t work”. To me this reflects the fact that they had unrealistic expectations of instant success and have given up too early.

What they are really saying is “I tried that and it didn’t work straight away”. They then conclude that it will never work. But that just isn’t the case. Success comes by persevering, trying out new approaches, amending and tweaking something until you get it to work.

Think back to the great inventions and discoveries of our time – we would never have had them if people had given up after a few attempts.

It’s often quoted that Thomas Edison tried at least 1000 ways before finally creating the modern light bulb. So why should things be different for us?

If you’re struggling with some aspect of your online business then take this on board. Expect things to be challenging and develop a mindset of finding solutions to the problems that you’ll come across.

If you can’t get something to work first time don’t assume that it will never work. Persevere – try a different approach, ask for help and advice.

That’s what separates the successful people from those who give up at the first hurdle. I know it’s difficult when you spend hours of your weekend trying to figure something out when you could be out enjoying the sunshine!

But remember that it will all be worth it when your perseverance pays off and you start making sales in your online business.

Just remind yourself of this quote from Thomas Edison – Many of life’s failures are people who did not realise how close they were to success when they gave up.

So don’t give up – stick at it!

Now where did I put the Golf Clubs!!!

How to Increase Your Home Based Business Income Now

Change your mind set

Most people in the network marketing industry are not making as much as they potentially can. This is happening because many people come into this industry with the wrong mindset. Having the wrong mindset has caused most people to fail. With the incorrect mindset people think that just be putting a site online they will start making some money. This is possibly but it is not if you do not know how to gain traffic to that website and monetize that traffic to where you make sales.

Also, people with the wrong mindset are coming into the internet marketing industry believing there is some magic tool or magic secret to how people are succeeding in their online business. If you think that there is some magical easy way to become successful with an online business then chances are you have been wasting a lot of money and time, for there is no easy way to becoming successful online. Yes, by finding the correct mentor and business partner it will be way easier to start dominating and making real money in your business, but it takes desire ad determination to press on and build your business.

Stick to one effective proven method

This is very important to know and it the next step you must take so that you can start seeing a difference. And that step you need to take is action. Once you stop looking for the easy ways to make money online and chase after the real money in your business by finding a proven online marketing method you must stick to it. It is very important to stick with one method first for it will work it’s just that it will take some time as you develop your skills and learn to master an online marketing technique. Do not be like most and hop from one marketing methods to the next because you don’t see results at first, for many give up and fail like this.

Brand yourself

Another thing to remember is that you need to brand yourself as you do network marketing. Branding yourself online will likely boost your home based business income for people will began to recognize you and you business. And you want this, for this allows you to create credibility and authority online thus causing you to attract business partners and customers effortlessly.

Do what everyone is not doing

Another key thing to remember trying to boost your home based business income is that you need to do what everyone else is not doing and separate yourself from the other network marketers. I am sure you have noticed many other network marketers are not seeing results to so why would you want to do the same thing as them? To succeeding in this industry you will have to learn not to be the pitchy sales man that everyone hates and learn to become they valued entrepreneur that everyone wants to buy form and work with.