Here is a question many successful traditional business owners and professionals ask. The answer may prove extremely useful...
What suggestions do you have for someone who's working full time making really good money in a corporate job or traditional business, but would like to transition to building a full time online business opportunity (network marketing or direct sales marketing)?
How can I maintain my current business, professional commitments and income, while starting a home-based business? Although I make good money and have a good lifestyle, I can't afford to not work! Retirement doesn't seem like it will ever be an option.
If you are starting to think like this, then considering an online opportunity to diversify, and eventually replace your current income, is one of the best options to consider. Despite general economic troubles, more entrepreneurs are making more money online than ever before. It is the platform where true wealth and economic freedom are being created.
I, like most coaches and mentors, recommend that you never quit your job or leave your current business, or career, to go full-time into your home-based business until you have consistently exceeded, your current income for at least three consecutive months.
Once you have determined that in order to start your online business opportunity, and maintain your current business, job or career, you will have to find the time to build your business. How do you find the necessary time to dedicate to your business?
You will be happy to know that you are not alone. Many of the most successful entrepreneurs now earning multiple 6 and 7 figure incomes were right where you are now. It is not a matter of finding more time. We only have 24 hours in a day. Ultimately, time is rarely the issue. It's about finding ways to work smarter and more efficiently, instead of putting in more hours.
You need to learn on your own, or be coached on how to prioritize your activities so that you are only spending time on those tasks, which directly effect putting actual dollars into your bank account. Everything else is pretty much busy work.
Assuming you have already chosen your online business, there is a daunting list of steps that go into starting a home-based business. You can spend time writing ads, placing ads, creating capture pages, calling leads, interviewing leads, managing contacts, scheduling follow up calls, three-way calls with down line team members, mailings, follow-up calling, processing new orders and taking applications, training new distributors/team members, etc.
So what is most Important? Forget about everything you have read until now. This is what you have to learn to make more money online and build a very successful future with an online business opportunity.
Think back through the list of possible activities mentioned previously. Ask yourself the following question:
"What daily business activities will make me money?”
The key is processing new customer orders and completed distributor applications only.
This is the only task that will make you money. So, it is the one task that you should focus your business building time on.
If you only had 1 to 3 hours each day to build your online business opportunity, how much money would you be making if you spent all of that time processing completed applications and taking new orders?
Very likely, enough to go full time!
So if you have skipped all the other busy work activities, where do the completed applications and new orders come from? Well here is the three-step process needed to make it happen.
Firstly - You must build a pipeline of prospects that you consistently contact over time. Not personally contact, but through a marketing strategy, which allows you to leverage all of your efforts using an automated system.
Secondly - You must build relationships with those prospects in your pipeline. Not relationships built personally, but those cultivated through a marketing strategy that uses technologies such as auto-responder e-mail and videos.
Thirdly - You must effectively market your goods and services to those prospects so that sales are made and income is produced through processing new orders for products and completed applications for new team members.
Most importantly, all three of these steps must be achieved through automation, if you want your production, and ultimately your income to explode.
And that's the difference between those who are able to go from beginning spare time marketers and business success hopefuls, to those able to move into full-time, hugely successful, online network marketing careers.
Struggling network marketers continually buy leads or place ads to generate new prospects, but rarely map out an actual strategy to put them into a long-term "pipeline."
Struggling network marketers attempt to build relationships with their leads one-by-one, one-on-one, attempting to talk to them on the phone. This is a time wasting, never-ending process of leaving messages, hang-ups, and rejection.
Struggling network marketers spend a lot of money, and most of their precious time resources buying, and then using costly and outdated marketing methods like mailing expensive prospecting tools to their prospects.
All of these methods have the same flaw. They are one-on-one marketing methods that provide you with no business building leverage. Your prospects cannot be limited to only those with whom you have to make personal contact with. There is not enough time in a day to create massive success wasting time and energy like that. Spend your time on these tasks and you end up spending too much time doing busy work that doesn't actually put money in your bank account.
A successful seven-figure income earner puts together a lead generation campaign using many different marketing strategies, which generates new leads daily.
A successful seven-figure income earner leverages marketing strategies and technology to build a relationship with their pipeline of prospects automatically.
A successful seven-figure income earner knows that relationships and trust can be built without individual personal calls and contacts.
A full-time seven figure income earner only does the following three things that require their personal time:
1) Contacting prospects who have called or emailed after reviewing the marketing materials.
2) Processes the prospects completed applications or new product orders
3) Concentrates on talking to and building relationships with, other full-time seven figure income earners and proven producers.
The bottom line is that making more money online by starting a home-based business is not about how little time you have, but how well you maximize the time you do have.
In the end, it simply takes a proven system to make more money online! To get your business going you need to find a good coach or mentor who can provide you access, and start you on your path to success.
How To Keep A Job
Many people find that they can make a little money on eBay using it as a part time income source while working full time at a regular job. Soon they begin to think that eBay is more fun, and since they can make a little money they should be able to make a lot of money be working their eBay business full time. While this may be very true, there are many risks associated with starting any business.
Build a sound foundation before you decide to quit your regular job. Learn everything that you can about eBay and how to make money on eBay. Don't make the assumption that just because you can make a little money on eBay you will automatically be able to make a lot of money on eBay. For many it just doesn't happen that way.
Consider the potential that income may not come as quickly as you'd like. Have a nest egg set aside to cover expenses during the starting phases of your full time venture. Make sure that you have product suppliers lined up with adequate inventories to support you at increased sales levels. Make sure that you have storage capability for increase inventory. Make sure that you understand the added work associated with more sales. Recognize that with added sales come added expenses. One of the things that all who make money on eBay will agree is that it is important to minimize the risks associated with your business. There are several things that you can do to help. However one of the best moves to consider is to diversify your business.
When you diversify you add multiple income streams to your business income. In so doing, you can make money on eBay from those that are doing well. When one or more of the others slow down for any reason you retain the income from sales of those other income streams.
?Multiple Products ? a variety of products across a market niche
?Multiple Product Lines ? all indifferent market niches
?Multiple Income Sources within eBay ? eBay Fixed Price, eBay Auctions, eBay Store ? all in one market niche
?Multiple Sources Across Multiple Markets -
Each of these provides some level of risk reduction for sellers. As you diversify there is added work of learning and managing businesses across multiple products and markets.
To make money on eBay requires that you do everything associated with your business very well. However, to reduce some of the risks associated with having only one product consider diversification. Multiple income streams that are developed over a reasonable period of time is one of the better ways to reduce the risks of decreasing sales of a single product.
As always conduct sound due diligence to insure that the income streams that you select are sound and will serve their purpose. Every income stream needs to be built around a sound plan. Soon each income stream will support your desire to make money on eBay.
Do everything that you can to build your eBay business. Work to increase part time sales levels and profits to match, or even exceed your regular job income. Know that you can make money on eBay at levels that will pay for the business and your compensation as well.
With learning and experience as well as planning and hard work it is possible to turn a part time eBay business into a successful full time endeavor. Many who make money on eBay today did just that.
Both Brian Wright & Amit Rana are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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