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Over three years ago I started my business. I started it for the money, as you do with business. I had tried several multi-level programmes in the hope that they would turn in to businesses and generate a serious income. I so wanted to leave my jobs and play big. You see, I have a particularly wealthy uncle and aunt who had started their business in the motor car industry from the ground. They are so generous and they don't hesitate to share this life, my cousins too. As much as I love it though, it's not mine. So this was my motivation for starting a business. I was 38 at the time and my goal was to retire by 40.
So, having tried some programmes for which I am truly grateful to have done, I learned my first lesson. It was a simple lesson in mathematics. I failed to calculate how much in sales I would need to generate in order to at least break even. As a result, I was spending more on marketing than I was making in sales. The knock on effect was that I questioned the profit margins of the programme. At the same time, I was trying to recruit to a 'business' website whose training practices were, to be frank, unprofessional. It drives me scatty when I see people do some of those things now but I also remember that I did it once too due to poor leadership.
So I continued my search. At the end of my tether, I must have keyed in "Big profit home business" or something similar to Google. I clicked on a link and took the chance and filled out the contact form. I didn't expect much. So when I got the inital call I was waiting for the 'the hook'. "Give us your credit card details and..." and I had this vision of a woman in curlers in her dressing gown on the couch doing this to several people. But that didn't happen. The call was rescheduled to Monday at 5.30pm (the first call being at 9.00pm on a Friday evening due to them being in the States and I in Ireland). So when I got the call at 5.30pm on Monday (not 5.30ish), I took note. I was dealing with people of integrity. The kind of people that I wanted to be associated with.
After a brief call/interview I got a link sent to me. I'll never forget it. I was blown away by what I heard and saw. Really? Could this be true? I called my wife... could this be true? Here it was, a business, with products, leverage and big, up front profits. It required investment that called for me to step outside my comfort zone, to stop thinking like and employee, the call to play with the rhinos and leave the herd of cows. And I nearly didn't because I didn't particularly like the attitude of my enroller who I thought was abrupt and unfriendly (which I absolutely understand now. This guy was looking for a business partner not someone he had to molly coddle and babysit). Whatever my personal feelings were, I wasn't going to leave that kind of money on the table though. This was franchise level income without the franchise level casts. In I went. Three and a half years ago.
As a by-the-way, the industry the business is in is Personal Development/Entrepreneurial Education and now, positive media too. I can't tell you how much I've grown as a person. Sometimes step-by-step other times by quantum leaps. Identifying what's holding you back is only the start. What I thought was the fire was only the spark. The absolute feeling of serendipity is tempered by the journey you need to take if you want enact change. I'm happier now than ever, which means my parents are happier, my wife is happier, my kids are happier, my friends are happier and people that I haven't even met but catch that constant smile on my face are happier. And yes, I'm making the kind of money that can only be generated by owning a business.
So here's a checklist of questions that I would suggest any would be home based business seeker ask.
Why am I looking? (This has got to be about you and what you want.)
Are there products? (You may think this is an obvious question but believe me, I've seen programs that just call for a cash donation to be made directly with no products.)
What are the profit margins like? (Making 0.05c per sale will require thousands of customers. So how much work will be required to do this? Only you, through practical experience, can answer this. Don't ask anyone else, they won't be running your business.)
Could I make a presentation to a bank for a loan about this business?
Is the compensation plan set up so that could I make more money than the person who enrolled me? (Every organisation is in the shape of a pyramid, EVERY one but in network marketing, through your own efforts, you can make more money than the person who enrolled you.)
What is the training like?
What is the level of investment to return on investment ratio?
Am I prepared to stick this out? (This will depend on your answer to question one.)
Is my goal worthy of my effort? (Don't shrink your dreams to fit your pocket. If you're going to put in the time and the effort, make sure your dream is worth it.)
And here is the most important question that is for no-one else to answer:
Do I believe that I can make this work for ME? (In any compensation plan the 'x', the variable in the equation will always be You, no-one else. So look carefull and solve for 'x'.)
There may be a question that is conspicuous by it's absence "What about liking the product?". I'll tell you that, for me, I had no idea about personal development or what it was about when I started but I'm over the moon about it now. Whatever you turn your hand to, be a product of the product otherwise the only person you'll be short-changing is yourself.
So, having tried some programmes for which I am truly grateful to have done, I learned my first lesson. It was a simple lesson in mathematics. I failed to calculate how much in sales I would need to generate in order to at least break even. As a result, I was spending more on marketing than I was making in sales. The knock on effect was that I questioned the profit margins of the programme. At the same time, I was trying to recruit to a 'business' website whose training practices were, to be frank, unprofessional. It drives me scatty when I see people do some of those things now but I also remember that I did it once too due to poor leadership.
So I continued my search. At the end of my tether, I must have keyed in "Big profit home business" or something similar to Google. I clicked on a link and took the chance and filled out the contact form. I didn't expect much. So when I got the inital call I was waiting for the 'the hook'. "Give us your credit card details and..." and I had this vision of a woman in curlers in her dressing gown on the couch doing this to several people. But that didn't happen. The call was rescheduled to Monday at 5.30pm (the first call being at 9.00pm on a Friday evening due to them being in the States and I in Ireland). So when I got the call at 5.30pm on Monday (not 5.30ish), I took note. I was dealing with people of integrity. The kind of people that I wanted to be associated with.
After a brief call/interview I got a link sent to me. I'll never forget it. I was blown away by what I heard and saw. Really? Could this be true? I called my wife... could this be true? Here it was, a business, with products, leverage and big, up front profits. It required investment that called for me to step outside my comfort zone, to stop thinking like and employee, the call to play with the rhinos and leave the herd of cows. And I nearly didn't because I didn't particularly like the attitude of my enroller who I thought was abrupt and unfriendly (which I absolutely understand now. This guy was looking for a business partner not someone he had to molly coddle and babysit). Whatever my personal feelings were, I wasn't going to leave that kind of money on the table though. This was franchise level income without the franchise level casts. In I went. Three and a half years ago.
As a by-the-way, the industry the business is in is Personal Development/Entrepreneurial Education and now, positive media too. I can't tell you how much I've grown as a person. Sometimes step-by-step other times by quantum leaps. Identifying what's holding you back is only the start. What I thought was the fire was only the spark. The absolute feeling of serendipity is tempered by the journey you need to take if you want enact change. I'm happier now than ever, which means my parents are happier, my wife is happier, my kids are happier, my friends are happier and people that I haven't even met but catch that constant smile on my face are happier. And yes, I'm making the kind of money that can only be generated by owning a business.
So here's a checklist of questions that I would suggest any would be home based business seeker ask.
Why am I looking? (This has got to be about you and what you want.)
Are there products? (You may think this is an obvious question but believe me, I've seen programs that just call for a cash donation to be made directly with no products.)
What are the profit margins like? (Making 0.05c per sale will require thousands of customers. So how much work will be required to do this? Only you, through practical experience, can answer this. Don't ask anyone else, they won't be running your business.)
Could I make a presentation to a bank for a loan about this business?
Is the compensation plan set up so that could I make more money than the person who enrolled me? (Every organisation is in the shape of a pyramid, EVERY one but in network marketing, through your own efforts, you can make more money than the person who enrolled you.)
What is the training like?
What is the level of investment to return on investment ratio?
Am I prepared to stick this out? (This will depend on your answer to question one.)
Is my goal worthy of my effort? (Don't shrink your dreams to fit your pocket. If you're going to put in the time and the effort, make sure your dream is worth it.)
And here is the most important question that is for no-one else to answer:
Do I believe that I can make this work for ME? (In any compensation plan the 'x', the variable in the equation will always be You, no-one else. So look carefull and solve for 'x'.)
There may be a question that is conspicuous by it's absence "What about liking the product?". I'll tell you that, for me, I had no idea about personal development or what it was about when I started but I'm over the moon about it now. Whatever you turn your hand to, be a product of the product otherwise the only person you'll be short-changing is yourself.
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