Internet Network Marketing Business – Six Keys to Success

Network marketing has gotten a bad rap over the years with most companies setting you up for complete failure by telling you to make a list of all of your friends and family and then pitch them to get them involved in your business. How can that be a good thing? For most people, their friends and family are the ones that have heard them say over and over again, “This idea is going to be the big one!” just to see them fizzle out and move on to the next latest and greatest thing. So, these six keys to success in your internet network marketing business are the foundation you MUST follow if you want to succeed in your own home business:

The First Key To Success In Your Internet Network Marketing Business: you must follow the BE>DO>HAVE Formula. You have to become something inside yourself before you can have it in reality. You have to stamp the imprint onto your brain that YOU ARE NOW AN INTERNET MARKETER! This must now become a part of who you are in order to succeed in your internet network marketing business.

The Second Key To Success In Your Internet Network Marketing Business: you have to choose the right vehicle/business – tailored to your specific personality and lifestyle. For example, you wouldn’t most likely go 4-wheeling in your brand new Ferrari now would you? You would most likely choose a suitably equipped 4-wheel drive vehicle for this task. The same applies to your business matching your personality. You want to make sure that your business plan excites you or you’ll never get it off the ground!

The Third Key To Success In Your Internet Network Marketing Business: you want to have the best training available that gives you step-by-step instructions on how to become successful at your new venture AND be simple to implement as well. Most business models are great in concept, but how are they when it really counts? I’ve found from years of experience at this that most need a “superstar salesman” to make them work. You want something simple and straightforward that a “regular” person can learn and implement.

The Fourth Key To Success In Your Internet Network Marketing Business: now that you’re learning the business, you have to start driving high quality, targeted traffic to your businesses website. Notice I didn’t say “know the business inside and out” – or “analysis paralysis” as it is called – remember this: you don’t have to make it perfect…you just have to GET IT GOING! Failure to do so will make or break your internet business just the same as it will in ANY business.

The Fifth Key To Success In Your Internet Network Marketing Business: is proper communication. Once you start getting people interested in your business and they start working with you, you have to stay in touch with them, help answer their questions, teach them, lead them. Great leaders are hard to come by. Become one and you will RULE THE WORLD!

The Sixth Key To Success In Your Internet Network Marketing Business: You must never rest on your laurels and think “Ahhh, I’ve finally arrived”! Even though you’ll have plenty of freedom this is still a BUSINESS. Businesses must be operated. Usually by people! You have to continue to learn the latest techniques and stay ahead of the latest trends. Right now online, the latest trends, as you may have seen, are social media websites such as Facebook and Twitter. They allow you to connect to large amounts of people all over the world – in an instant. You must continue to grow in your business life and in your personal life in order to feel like you are truly successful. My grandfather always used to tell me: “Once you stop learning, that’s when you start dying.” Trust me, it’s great advice to live by!

Well, that’s it. That is the actual outline that I live and work by. In my next series of articles, I will actually break down each of the six keys one by one in detail and explain precisely how you can use each one to start and succeed in your own internet network marketing business.

In my next post, I am going to break down the BE>DO>HAVE Formula in minute detail. OK. I’ll give you a little hint now. Here it is. Nature demands that you BE someone who does things in a certain way before you can DO those things that way in order to HAVE those results in your life. Let me say that again. You have to BE someone who does things in a certain way before you can DO those things that way in order to HAVE those results in your life. That formula alone, when applied properly, will change your life forever!

I’m also going to give you some simple techniques that, if you TAKE ACTION on them and actually practice them regularly, you’ll feel so motivated and determined that you will become a virtual cash machine! So get ready for the next installment. It’s going to be life changing! Stay tuned…

What You Need To Know About Your Business Before Hiring A CPA Firm

When you run your own business, you’re in deep in every decision that’s made simply because it’s your neck on the line. What’s more, it’s your money on the line, which means contemplating the hiring of a CPA firm. This can be a bit difficult for some business owners because they’ve essentially depended on themselves to get this major project going. These owners act as CEOs, CFOs, COOs, etc. The idea of bringing on anyone else to handle what they can do themselves seems a bit absurd.

But should it? A reputable, dependable CPA firm does many things, most of which boil down to making sure that your business’s finances are in order all year long. They are also keen on being a financial advisor, looking at all the ways your company can keep and on the right track in both the short, and long, term.

Still, even the best accounting firm can’t do its job without you getting your act together & understanding what it is your business’s goals & aspirations are over time. Moreover, you need to know what you want out of an accountant. You’ll need to assess your company’s needs. Will you need an accounting firm to do things that include AP, AR, payroll, and taxes? Unless you know what you need of a firm, you can’t find the right one to come onboard.

You want to be sure that your business is run in such a way where there aren’t a lot of “oddities” involved. For example, you don’t want only one person to have access to a record filing cabinet because “that’s how things go.” You want financial records to have order with programs that are universal so that there is no “well, see this is how [enter name] does stuff.” A good CPA firm will want to be able to acclimate working in your business so as to ascertain all they need for their reports. They want a complete picture, and, as such, you need to be sure you don’t have outlying roadblocks to their success.

One final thing you need to know about your own business before you choose to hire a CPA firm is how accessible the business is to an outsider. Now, even though we’ve talked about access to records, this goes further into the notion of how easy it is to understand the type of business you run. A good accounting firm will do its best to learn your business inside and out because the better they know your business, the better they can inform you of any missteps to avoid. For example, if your company relies on sales of certain goods, you need to know your accountant understands supply and demand. Otherwise, you may be in for a real shocker when they can’t give you input on where your capital should be invested.

Accounting is an important part of any small business, so hiring the right CPA firm should be high on your list of priorities.

5 Reasons Why Businesses Should Know the Importance of Big Data

The ones who are in business or planning to be in the same, must be thinking what will be the relevance of Big Data to business and how can it help in an effective running of businesses. Well, innumerable people believe that Big Data is needed in a few particular fields. However, that’s only a myth; instead, it is free from any boundaries and can aid in every Business’ inside-out operation.

Reasons that Validate the Importance of Big Data

Big Data operates irrespective of any field or size of the business, as management and collection are done in every field; thus, making it more accessible. Let’s get an insight at the reasons that validate the importance of Big Data into businesses:

  1. Data is an asset to the business: Every business generates the data, be it small or large. All the activities generate data and a proper strategy is needed to store this data. The amount of data can be huge or less, but a proper strategy can help the business to manage it the right way by collecting, using, and protecting it. This indicates that the companies that believed Big Data is not meant for them will now be able to use it and understand its importance.

  1. Collecting better market and customer data: Customer and market trends are the few important factors for the business to be kept in mind in order to gain success. Every company manages data to understand the moods of their customer that tend to change with time. Hence, Big Data analytics can be useful in getting a better understanding about the needs of customers, their usage demands, and what would they be buying future.

  1. Improvement of internal operation and efficiency: Businesses also have to focus on the data of their employees that includes, optimization of services of delivered, tracking the performance, and even the recruitment of suitable candidates; all can be done with the help of Big Data. This can help the businesses to let them improve the internal efficiency in varied departments.

  1. Effective financial trading: Financial Transactions are also an important factor for the companies, as it leads to economic growth of the organization. Financial trading between the companies and clients can be handled well with the help of Big Data analytics, as it handles the algorithms required for the account related purposes.

  1. Understanding business processes: The optimization of business processes can now be done more easily. Retailers can maximize their stock based on the data predictions given by social media. Supply chain and delivery route can now be optimized with the help of this technique. The HR department of the organizations is also getting benefited like while hiring the right talent. It also measures the amount of employee engagement with its tools.

Hence, Big Data Analysis is not confined to certain counted fields, but enlarging its horizon of services and quantifying itself to a larger scale. If used properly, it can affect the businesses to an unexpected extent and giving more and more growth opportunities.

The candidates who have a great knowledge of the tools used in Big Data Analysis are in great demand. But, for this they need to have the knowledge of the software that can help in this task. One of the best software that suits their requirement is Hadoop and a formal training of the same can turn extremely fruitful.

How to Become Successful in Any Network Marketing, MLM Business

THE SECRET TO NETWORK MARKETING SUCCESS

If you are like most people that are involved in the increasing popular network marketing or MLM, then you probably experience some sort of frustration or are on the verge of quitting. But the good news is that it is perfectly OK. Believe it or not, everyone from the top producer poster boy of your company to someone in the lowest level has experienced that. So you are not alone. Maybe you have gone to the trainings over and over, read the industry related books, and listened to the personal development CDs, and with no avail, are not making any progress at all. Well those things are great and very critical for your success, but there are some ingredients that are most likely never mentioned or brought up to your attention before getting started. Before I continue to share my top 4 recipes, I wanted to tell you what network marketing is and what it isn’t.

Network marketing is not: sales (as the core), convincing or begging people about the business, or managing people, a get rich quick program, a business you can do with little time, a business you can be successful at by just by sitting down at home making phone calls or getting online, not a job with a have-to mentality.

Network marketing is: a people business, earning while learning, positioning your self to be a leader to attract and create other leaders, a personal development course with a compensation plan, eagerness to learn, a filtering business, a business that requires time and effort which is proportionate to your progress, a business that requires you to THINK and ACT as a business person with their responsibilities, a business that demands responsibility, time management, and a high level of self motivation and commitment. Now with that mention, here are the fabulous, FIVE ingredients for your MLM Success that are a MUST!

First and foremost, before you continue to do anything else at all, you have to have your “why” down. What is your “why?” It’s basically your reason for doing the business, your vision, or your overall goal(s). Without a goal, it’s like basketball players running around the court with nowhere to shoot at all. If there are no goals, then you can’t score, and most importantly, you can’t win. So write 3 of them down, whether it’s to retire your family, pay off bills, spend more time with your kids, or travel the world. Write them down and place them in a high visibility place where you are mostly going to be at such as the visor of your car, your refrigerator, taped to your bathroom mirror, etc. This will be your testimonial reminder! You must be convicted with your vision!! So once you have your “why” down you must have a “by when” meaning the time frame. Your vision has to be aligned with a realistic time line that you set for your self and the level of work you are committed to. Earning a million dollars in 5 months in the business is almost impossible and probably not feasible so come up with something that measures up to what you are committed to.

Second, know the business inside and out because with wisdom comes confidence. Don’t get into in too much dept with the technicality part because you are not a technician or salesman. Know at least the top 20 questions of your business by heart as well as the compensation plan, and how to give an effective presentation plan. A good acronym to help is A-B-C (Advantages, Benefits, Compensation ). Never lie or exaggerate about the business! The last thing you want to do is lose a potential prospect by not knowing the basic information or them finding out that you lied to them, as well as giving a false expectation. A prospect will never want to do business if you are uncertain and not confident about the business. One of the most important issues here is to go over how this business could benefit them and their quality of their life, and what they could earn with the amount of work and commitment they are willing to give, so understand the comp plan and tailor it into their need and wants. If you don’t have the technical information in hand, tell them you will get it and follow up with them. Besides industry related material you must learn from the philosophy of your successful upline and personal development and leadership related materials. If you didn’t like reading before, then you must get in that habit! The more your business grows, the more you grow; the more you grow, the more your business grows.

Third, have an effective and an easy-to-duplicate system in handy. SYSTEM stands for Save Yourself Time Energy Money. Have a system in place that is proven to work and that is easy to remember for the most common scenarios such as 3 way calling with your sponsor, what to say before and after the presentation, what to say over the phone to gather customers, how to close, and what to say to the following business prospects that are family, friends, associates, leads, and strangers you just met, how to present to someone that lives a distance away. If you master those scenarios you are certainly on your way to success! Scripts are very effective as well so ask your organization and sponsor to obtain them. Keep in mind it must be duplicable.

Fourth, understand psychology! If you haven’t notice yet, this business is not about the products. If it was, you would be a salesman and selling is the antithesis for this type of business. Every top producer understands the core of this business which is people. This is what will set you apart from the rest of the people in your industry. It’s a people business and when it comes to people, you’re dealing with a lot of psychology and relationships! What I mean is being able to understand the nature of people. If you are not a people person then you are going to struggle in this people. You need to be able to meet people’s needs and wants. Bottom line! The only way to do that is to connect with people by listening to them. (That’s why we have 2 ears and 1 mouth so we should listen twice as much) Some prospects will have an objective but the underlying messages in all of them are 2 things: Can I do this? Can I count on someone to help me do this? With that said, you need to position yourself to be a leader! (Notice how all top producers are leaders? Not a coincidence) and people need to be able to know, like, and trust you! Once you have that, you have their business!

The first 3 I mentioned is very essential to your success but doesn’t guarantee your success. It will only increase your effectiveness of closing on prospects. The fifth and last thing I want to mention is the LAW OF NUMBERS. You will eventually hit a point where your list of 100 warm prospects is completely exhausted! So what’s next? The LAW OF NUMBERS simply states that the higher you increase your volume of people you present the business to, the faster you will build your organization. If you don’t think you are building your business the way you want, reevaluate the amount of people you are talking to about the business. You can’t be successful when you are only mentioning the business to 2 people a week! Don’t wait for people to come to you go out and find them. Attend local business mixers or networking events in the area, get involved with an activity group, events, go to the mall, the dogpark, or restaurants, where many people are present. It’s simply a number’s game. You can’t grow your business if people don’t know what your business is all about. Find out information on viral marketing, purchasing leads, create flyers, sizzle cards, leave information in restaurants, do newspapers ads and magazine ads. A rule of thumb to live by is that you will gain a 1% of people you expose as a business partner. Out of that 1%, 1% of them will be your hard charging ace in the business. Most network marketing business requires at least 3 successful legs. Here is a mathematical example to earn that:

1000 exposed = 10 will sign up = 1 will be a serious leader and blow your organization up.

Repeat this 3 times and you are almost guaranteed to be on your way to the top!

With 3000 people, that’s a little bit over 8 people a day!!

Now remember, the whole point of this is to find 3 quality leaders in your business. Many will do the business or even drop out but they aren’t necessarily quality kinds of people. You are not here to manage or babysit your organization because will be quite a drain on you. You should spend 85% of your business recruiting or as I say, spend 1 minute on a hundred people than 100 minutes on 1 person! Network Marketing is simply a filtering business not a convincing business!

As a bonus, I just wanted to bring up some additional statistical information that will certainly help and is worth knowing. Use stats in your favor:

90% of business partners will drop out within their first 90 days so it’s very important to get them qualified and get their list of top MVPs with 30 minutes of being in the business! Some say within 48 hours but think about it: when you start or open any business you want to start making money ASAP, not in a couple of days. If they do decide to drop out, you at least have their top 10 in your hands!!80% of your business is due to the combined effort of 20% of your business partners. No does not necessarily mean No. It means it may not be their time. Over 50% of people will sign up during their 5TH exposure. Anything after that, it’s usually best to not bring it up again. I certainly hope this information will open up new levels of thinking and transformation to bring you success!! May you prosper in your business and achieve the life you and your family deserve!