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Tuesday, August 11, 2009

Build Your Business Before You Need It

When we started our network marketing career, over 15 years ago, we did so with 2 thoughts in mind.

One was income replacement – to eventually develop a business and an income that would replace an employee salary. The second was an insurance policy.

At that time, the industry we worked in (airline) was going through major mergers, paycuts and downsizing. More than a decade later, the same is still going on and through in pension cuts on top of it.

While we didn’t "need" the income at that time, we did need the insurance policy for peace of mind. So, we rolled up our sleeves and started building.

Today, virtually everyone should be evaluating some type of "Plan B" business that can be started without a large investment and built over time. This just makes good business sense given the times we are living in.

Here are some steps for getting your Plan B started –

1. Do your research carefully and choose a business that fits you.

2. Don’t get caught up in hype and slick marketing.

3. Know that it is a 2-5 year business plan. You aren't going to get rich and quit your job

4. Have a long term vision for success and the patience to see the job through.

Let's look at these one at a time.

One, do your research carefully and choose a business that fits you. Spend some time evaluating your likes and interests. That old saying – "Do what you love and the money will follow" is very sound advice. When you involve yourself in a business you enjoy, you are much more likely to stick with it. When evaluating a Network Marketing Business, use my checklist.

Two, don't get caught up in hype and slick marketing. This can be a big challenge, especially when you are researching online. Marketing messages are written to be persuasive and everything sounds great, and the next one sounds even better, right? Educate yourself and be sure you understand exactly what it's going to take to make a successful business for yourself from the business you choose. Look beyond the hype; talk to people and make a sound business decision.

Three, understand that just like any business, it's typically a 2 to 5 year plan to achieve the success you desire. Get rich quick has no place here and won't ever last. If it were that easy, everyone would be involved. Develop a business plan and be willing to be coached by those who are successful already. Understand that there will be some challenges and times you'll feel like quitting. Make a commitment to always wait until the next day to quit. Sleep on it and see how you feel the next day.

Finally, have a long term vision for success. Develop a dream book or board that spells out exactly what you are looking for. Set some timelines to achieving some of those goals and work steadily toward accomplishing that. Work in 90 day cycles for success. This will give you the ability to do a fair analysis of what is working.

Build it now, before you need it and create the security that comes from knowing you always have a cushion to fall back on.

EXPECT Success!

Jackie Ulmer

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