Many network marketing companies come and go in a few short years. How can you be sure that the company you partner with will not let you down?

Here is my 8-point characteristic test that you can use to identify the right MLM companies that you can explore further on.

This will help you avoid choosing the companies that will destroy your hard work and income source in the long run.

1. Sub-industry
2. Track record
3. Management team
4. Products and services
5. Compensation plan
6. Training and mentoring
7. Future expansion
8. Endorsement

I explain all points in detail in my “Network Marketing Simplified” special report.

I understand that you may have a hard time finding just the perfect company that will pass all the characteristic test I shared above. On the other hand, however, you may want to take your time and do your due diligence in finding the company that you’ll be comfortable partnering with. If you do, you will less likely regret it and can go full force without any reservation.

Becoming an entrepreneur is only a dream to some people. The human nature is always seeking a comfortable zone where life is peaceful and problems are minimum. Who doesn’t want that, right?

That’s why employees always outnumber business owners. There are 5 misconceptions that are keeping most employees from crossing into business ownership:

1. They don’t like the headache and heartache of running and managing a business
2. They think they lack experience or knowledge
3. The pain of losing the security of a steady paycheck is greater than the benefits of financial freedom (believe it or not!)
4. They think that starting a business requires a large amount of money
5. They are afraid of failing due to lack of support and advanced training.

Let’s look a bit deeper at each one of these reasons.

Today’s financial security is no longer found in your jobs. How many people do you know who are a few paychecks away from bankruptcy? The dollar value is shrinking and your payraise can’t catch up with the inflation and rising cost of living. You must come up with a plan B before it’s too late.

With the abundance of information on the internet, starting a business is actually simpler than most people think. Many courses are being offered with just about every topic you want to study. You don’t even have to have a business degree or run a business before. It takes a decision and several hours or days of intensive study and mentoring and you’re ready.

Non-traditional business models, as I discussed in a few posts ago, require a very small amount of capital compared to that of the traditional one or especially franchises. Online and network marketing models have gained more and more followers because they can be practically started with under $1,000.

Training and support are also important areas that can make or break your business. One of the reasons I recommend direct selling and network marketing is because of the constant training and available mentoring that will take the entrepreneurs by the hand through an established training system with practically low or no cost at all.

If you’re one of those who sits on the fence and are considering whether entrepreneurship is right for you, you should know that you’re about to be a part of a group of citizens who make the economy of this nation strong and sustain it in times of trouble and recession.

It always takes great courage to take charge of your financial dreams and destiny and use your God-given creativity to make it happen.

As a business owner, you’re forced to be more innovative, creative, and excellent, or you’re out. You’re forced to always be out of your comfort zone and think outside the box.

When you take the challenge and defeat all fears and doubts you have, the rewards will far surpass the price. They come in the forms of financial independence, sense and joy of accomplishment, and greater influence with your fellow citizens.

Are you ready to take your journey?

In today’s competitive business arena, companies that stop innovating and expanding will likely be kicked out of the competition.

It’s easy to fall into the entrepreneur’s comfort zone. Sales is steady, employees are happy, systems are working smoothly, and everything is basically in place.

Then, BAM!

The economy goes down, people lose their buying power, prices go up, expenses soar, profits shrink, and lifestyles change.

The opposite scenario is as true. The economy goes up, people buy more, competition gets tougher, options abound, and customers demand higher quality of service.

In business, change is expected and it’s frequent. Either scenario demands from you as a business owner to stay ahead of the market and to be prepared for, or even pioneer, new ways of making money, or lose in the competition.

It is crucial to go back to your vision chair annually and start to think. That is what makes you different than your employees or followers. They don’t have to envision; they follow your vision.

Write down where you plan to bring your business three, five, and ten years from now. You don’t know what will happen but you are at least prepared. Changes are inevitable but your preparation makes them easier to adapt and anticipate.

I recommend to plan for maximum ten years. Some experts suggest 30-, 50-, or even 100-year plans. However, the world today is running at a faster pace than it was years ago. Plans for more than 10 years will likely require major modification to the point that it will be totally different than the original.

The last point I will share with you is about the fears you might have and how to overcome them.

See you on the next post!

Goals.

So many people talk about their goals but not all accomplish them.

The key to achieving your goals is, again, to write them down. There is power when you put your vision in writing that makes it materialized and tangible.

Remember I shared about DMO or daily methods of operation?

It is easier when you start with a bigger picture and work your goals backwards. Knowing what you want to achieve a year from now gives you an idea how to measure the progress every quarter, every month, every week, and every day.

Put down clear and measurable goals. Instead of saying “I want to earn a 6-figure income next year,” you should say, “I want to earn $120,000 by the end of February next year.”

If, let’s say, today is March 1st, then you have 12 months to achieve that goal. It means you have to make $30,000 every quarter on average. If you just started, you can divide the quarterly goals like this:

• 1st quarter (Mar-May): $6,000
• 2nd quarter (Jun-Aug): $19,000
• 3rd quarter (Sep-Nov): $36,000
• 4th quarter (Dec-Feb): $59,000

Now, you can set monthly goals for every quarter, like this:

• March: $1,000; April: $2,000; May: $3,000
• June: $5,000; July: $6,000; Aug: $8,000
• Sep: $10,000; Oct: $12,000; Nov: $14,000
• Dec: $15,000; Jan: $19,000; Feb: $25,000

You can then set weekly goals and even daily goals. I think you got the idea.

This also works with the amount of potential customers you want to reach, or the size of the company you want to grow into.

Once you set your goals, you can schedule your days with money-making activities coupled with personal and skills development time. As you learn how to manage your time better, you can set up even higher goals in the following years.

Next, it comes back to envisioning time!

Now we get down to the nitty gritty requirements for launching your business.

Make sure you write down everything you need to prepare:

• Mission statement and business plans
• Short term and long term goals
• Technical and customer support systems
• Equipments such as computer, telephone, and vehicle
• Tools such as daily planner, financial sheets, contacts list, and office supplies.

And of course, advertising and marketing tools and sources without which any business will likely fail.

At this point, you must consider yourself an expert in your field. If your sell tangible products, you must have known the in-and-outs of your products. If you provide services, you must have been knowledgeable and able to educate your customers anytime necessary.

Now there are several formulas you can use during the pre-launch period. Giving free product samples or free consultation will be a good example. You can also announce or distribute flyers about your grand opening offers that are only available during the first few days or weeks. Pre-building your customers list with referral or affiliate marketing is absolutely a great way to build the excitement.

Utilize your contacts and business partners in terms of paying for their respective expertise and asking them to contact their list.

When you do a successful business launch, you must be prepared to handle the inflow of customers, with their questions and issues, using good support systems.

Down the road, you need to establish as early as possible your daily methods of operation (DMO). Human beings are always good with routines and habits. Creating a set of good ones will help tremendously in running your day-to-day business.

On the next post, I’ll share with you how your business will grow in proportion to your own personal growth.

Stay tuned!

Now it’s time to put the mental game into practice.

Before you start doing business, you must have a clear understanding on your business model. A business model is the methods you use to make money.

There are two basic business models: retailing/wholesaling products, and providing professional services

Out of those two come variations of the ways the business is operated and products and services are offered to the customers.

You’ve probably heard of several of them:

• Traditional brick-and-mortal shops and stores
• Franchise
• Online stores on the internet
• Mail or catalogues
• Direct selling and network marketing

All models have their own pluses and minuses. The currently most favorite ones are online and direct selling.

Why?

Low cost. Many entreprenerus are limited by capital and budgets, especially home based business owners. The internet and the direct selling model will allow them to start with far less money than the traditional one or franchise.

Less hassle. Home based business owners are usually sole proprietors or LLC sole members, which relatively require less paperwork than those of corporations. Please consult a qualified attorney or financial advisor for more information.

Unlimited growth potential. The internet presents unprecedented expansion of marketplace as more people turn to the web everyday for just about anything they need. Network marketing, on the other hand, use the power of leveraging other people’s resources to grow the business and increase sales volume.

Depending on how comfortable you are and how much experiences and resources you have, you can pick the most fit business model for you and begin your entrepreneurial adventure right away.

On the next post, I’ll show you what you need to properly launch your business.

Staying in the game is the most difficult.

Every entrepreneur is excited at the ideas of starting a new project and running a new venture.

However, when – not if – when challenges arise, communication breaks down, performance decreases, morale plunges, and progress halts, there is one thing that keeps a prepared entrepreneur moving forward.

It’s called “the right mindset.”

Why is mindset so important?

Because 95% of success is mental and 5% is physical. You must develop the right mental attitude and long term thinking. If you’re still subject to the emotional roller coaster, you must train yourself to get back up every time you fall down.

With the right way of thinking, you can make a clear and solid plan and put it to work regardless of every obstacle you will find along the way. It sounds simple, and you’ve probably heard of it, but many entrepreneurs still fail.

Think and act like a business owner. Watch your thoughts and words.

Business owners do not think “What will it cost me?” Instead, they think “How will it increase my profits?”

They do not think “When will it be over?” Instead, they think “How can I improve?”

Business owners invest into their business in order to gain more. As the old saying tells us, “When the going gets tough, the tough gets going!”

Next, we will look into several business models.

Today we’re going to talk about the reasons you have for starting your own business.

First of all, if you’re comfortable with what you do, you won’t have strong enough reasons to start with. My advice will be “Don’t even think of changing lane!”

It’s for your own sake. Stay where you are and you won’t have any heartache and headache of running a business.

However, if the following situations are happening:

• You’re tired of your over 40 hours a week job
• You desperately want to spend more time with your family
• You’re not satisfied with your finances and you know you can achieve more
• Your skills and talents are not fully appreciated at your current workplace
• You simply want something different and feel you’re ready for a new adventure
• You want to prove that those naysayers are wrong

… then you can strongly consider looking into starting on your own.

Caution: If your reason is due to financial struggle and being unable to pay for basic necessities, by all means, look for a second job or save some of your income first before even jumping into the entrepreneurial world.

When you are ready, keep in mind the reward of having overcome the situations you’re in by picturing the opposite results.

• You work your own hours
• You can spend as much time as you want with your family whenever you want
• You put your skill sets and talents to maximum use and thus produce maximum reward and satisfaction
• You defeat the fear of venturing into the unknown
• Your naysayers come to you and ask how in the world you can make it

Lastly, you must finish what you have begun. Never give up. Remember: Losers quit and quitters lose.

See you on the next post!

Taken from Dictionary.com, the word “passion” conveys several meanings. Basically it refers to strong or intense feelings and desires, or even violent anger.

I believe that every man and woman was born with a set of passion that makes them unique from each other. So the first step to starting your own business, or fulfilling your life purpose for that matter, is to discover what you’re most passionate about.

It can be things that you will happily devote your time and energy to, or issues and causes that will arouse your anger, in a positive way of course.

When you discover your set of passion, you will likely be more motivated to work on your business and to stay in the long term.

Running a business is not for the lazy and running a successful one is certainly not for the faint-hearted.

When it comes down to routines and discipline, failures and setbacks, it is always a good thing to be able to tap into your passion pool and draw in the energy you need to keep the ball rolling.

On the following posts, we will look into why we need to go beyond our passion and be prepared in any situation by having a solid business plan.

So you want to start your own business? Excellent!

Have you done your due diligence? A few things that you may want to consider:

1. What you’re passionate about
2. What drives you to start in the first place
3. What will motivate you to stay in the game
4. What business model is fit for your personality
5. What you need to properly launch your business
6. What skill sets you need to acquire
7. What your annual, quartely, monthly, weekly, and daily goals will be
8. What you want to see happening three, five, and ten years from now
9. What your biggest obstacles and fears are and how to overcome them

Many people embark on the entrepreneurial journey only to find a year or two later that it is not what they’re expecting or hoping to see.

In the next posts, we will look closely at each of the points on the above list.

Stay tuned!