by Rahimah Sultan

 

 

There is an ongoing debate as to whether businesses and programs, that promise you a chance to leave your day job, are legitimate business opportunities or scams/pyramid schemes. Multi-level marketing (MLM) companies offer you a chance to be your own boss, make lots of money and new friends in the process.

 

Here are some major indicators of pyramid schemes:

 

* Programs that focus mainly on recruitment of new people
 

* Plans that claim you will make money through continued growth of your “downline” rather than through your own sales of products
 

* Programs that ask distributors to purchase expensive inventory
 

* Plans that ask you to sign a contract or pay money to participate in a multi-level marketing program, or any business opportunity, without letting you take time to read all of the paperwork
 

* Products or services are just vehicles for recruiting, and may be gimmicks and/or overpriced. Even high quality products may serve as a cover for recruitment activities.

 

Compensation Plans

 

A MLM company will have one of several Marketing Payment Structures. It can be a Matrix Plan, a Binary Plan, a Breakaway Plan or other.

 

The distinct feature of a Matrix Plan is its limited width. Unlike other MLM compensation plans, a Matrix restricts the number of distributors you can sponsor on your first level, usually to less than five. The most commonly used Matrix MLM plans are 4 x 7, 5 x 7, 3 x 9 and 2×12.

 

A Binary Plan is a Two-Legged (Left leg, Right Leg) structure where each new distributor or member is placed in either of the left or right subtree. One subtree is called a Power Leg or Profit Leg and the second subtree is a Profit Leg or a weak leg.

 

Advantages of a binary MLM plan are:

 

Spillover, unlimited depth, fast expansion, it’s volume driven, and there can be multiple business centers.

 

The Breakaway Plan, also known as the Stairstep Plan, has different status stages or steps. Once you reach a certain level you are allowed to “Breakaway” from your sponsor and run your company individually.

 

Advantages of the Stairstep Breakaway MLM Plan are:

 

The earning potential on more levels, no limit on the number of people who can be recruited into your first generation line, and there is no limitation on the number of recruits that your downline distributors are allowed to recruit.

 

It’s important to do your due diligence and check out all programs you may be thinking of joining. Discuss it with a spouse, a knowledgeable and experienced friend, an accountant, or lawyer. You can also check out the company with the BBB. If you feel that you are being high-pressured or that you’re not being given enough time to study and evaluate the details, look elsewhere.

 

Once you have found a legitimate MLM company that you want to be a part of, be prepared to put in the work to make it profitable. If you want success, be disciplined and treat it like a business and be willing to follow advice from others who have made it. Although using multi-level marketing for supplemental income can be a good plan, understand that it will take time to make it your full-time income source.

 
 

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by Rahimah Sultan

 

 
 

“Every business is simply a set of systems and marketing just happens to be the most important of these systems.”

 

As marketing is a business system, treating it as such helps to take away the mystery of its function in your business which permits you to create consistent, predictable results from the operation of your marketing system.

 

For details read 7 Steps To Sure Fire Marketing Success.

 
 

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by Rahimah Sultan

 

 

In today’s ever-changing marketplace, it is not enough to have a website. A successful home business requires online marketing strategies the same as an offline business. For your marketing success you must engage in effective marketing to get new customers. In order to achieve your business goals you must establish a budget and master online marketing skills. Here are…

 

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by Rahimah Sultan

 

 

You cannot start a business without having some expense. If you start a blog, you will need money for a domain name, hosting, and themes. If you really want a business you have to be prepared to invest some money and to take some risks.

 

You can’t get to where you want to be hiding in the corner afraid. Yes, you MAY fall down, but it will only serve as a lesson and a stumbling block to get you to where you want to go. Can you do it yourself…

 

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by Rahimah Sultan

 

I’m sure you’re familiar with the saying, “Don’t put all your eggs in one basket.” That also applies to business. Don’t depend on one source for all of your income. You need several ways to make money:

 

Sell information products
Sell other people’s products
Create a membership site
Create an online freelance business

 

Read more here…

 

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by Rahimah Sultan

 

 
 

So, your reaching retirement age or are already retired and thinking about starting a home business. There are several things you must consider before doing so, and you must set up a plan. Among the things to be considered are investment capital, spatial needs, and your health.

 

As an entrepreneur you’ll have total responsibility for your business. Running a home business can be a very satisfying endeavor. Many home business owners enjoy the flexibility, as well as the opportunity to grow their businesses as they see fit.

 

Here is some great general information on starting a home business that will succeed.

 

Read more on Starting a Home Business in Retirement here.
 
 

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by Rahimah Sultan

Being successful in life requires a purpose and discipline to pursue that purpose. You must stay focused and avoid distractions. This also applies to business success.

You need to imagine yourself as a success. Daily visualize what your life will be like, what you’ll be doing, and how it feels. Decide what you like and are really good at and lay out a plan to get there. This will no doubt involve consulting with someone in your area of interest. Set clear goals and be realistic. Figure out what success looks like for you following these five tips for business success.

Focus on Your Main Objective

You might want to be a computer programmer or a software engineer. Research the requirements. It probably means attending school and getting certification. Or, you may want to be an Internet marketer. The same principal applies.

Write out a plan and begin taking steps toward that end. Don’t procrastinate. Break your goal into smaller goals and begin to work on those smaller goals. Set an overall timetable and times for finishing each smaller goal.

Avoid Distractions

Keep distractions at a minimum. It’s not possible to stay 100% focused 100% of the time. Just don’t let your goals take a backseat to them.

Find a Mentor

A mentor is someone who usually has a bit more experience than you, who knows the trade, offers advice, and helps you. A mentor will help you network, trouble shoot, and strategize.

Always keep learning. Gather as much information as you can. Take calculated risks.

Solve Problems

Successful people encourage progress by solving problems and answering questions. Can you make life easier for people in an effective way? Can you create a product or provide a service that fills a crucial gap?

Be Persistent

If your first attempt doesn’t work, pick yourself up and try again. Don’t make excuses. You will have failures. Failures don’t define you. They are learning experiences. Don’t repeat the same mistake. Don’t give up.

So, focus on your main objective, avoid distractions, find a mentor, solve problems, and be persistent.

Step out of your comfort zone. Don’t wait for opportunities to fall in your lap. Sniff them out. Successful people make big investments in their careers, in their businesses, in their education and, all investments involve risk. Use these five tips for business success to get started. Study your risks, make sure the odds are in your favor, and take a leap.

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by Rahimah Sultan

 

Website promotion is an ongoing process for attracting visitors to your website. You need high-quality content for lead generation, increased traffic, and search engine rankings.

 

Your website needs to be optimized for search engines, and you need to promote it in as many ways as possible, including using social media.

 

You can read the article, Tips on Web Site Promotion for Home Business Owners, here.

 

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by Rahimah Sultan

 

 

“So, you’ve decided you want to work for yourself when you reach age 65 or so. There are three key factors to consider before diving into entrepreneurship and starting a home business in retirement.”

 

Risk
“Be realistic about the time, energy, and cost of starting a new venture. The flexibility of freelancing or consulting from home would be a better option than setting up a labor-intensive physical company. Consider the investment…”

 

More…

 

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by Rahimah Sultan

As a new entrepreneur you need to follow certain rules for small business success. You need to quell the enthusiasm a bit and focus on starting out right to avoid later disappointment.

Here are 10 of the most important rules for small business success:

1. Start small and grow. Don’t try to sell to everyone. You need a niche – a specific product or service so that you’re not competing with everyone.

2. Concentrate on what will be the bread and butter of your business. Don’t try to implement all your entrepreneurial ideas at once. You can branch out later.

3. Make sure you have a product or service that customers really want.

4. Develop a business plan that forces you to think through the basic elements of your company, i.e. your market, competition, industry and your position.

5. Know your customers. If you have a clear target market you can be much more effective and efficient in both your product development and marketing efforts.

6. Build one business at a time. Concentrate on one new direction, product or service, one target market or one distribution channel at a time.

7. Don’t re-invent the wheel. Get a piece of an existing market. Creating a market for a brand-new type of product or service is difficult, time-consuming and expensive.

8. Double the estimate of the time and money you originally think you’ll need. Things cost more and take longer than planned.

9. Keep things short and use lots of photos. People don’t like to read.

10. Build strong customer relationships. People like to do business with those they know, like, and trust.

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