How to Start an MLM Business – The Top 3 MLM Business Mistakes

If you’re looking to start an MLM business there are certain mistakes you’ll want to avoid making. These are mistakes that newbie’s and veterans alike make. They can often hinder your success with your MLM business. Knowing these mistakes can make all the difference in helping your business get in profit as soon as possible.

Start An MLM Business Mistake #1

Not finding an mlm business that has a good comp plan. This is text book. Who wants to be bothered with having to balance the legs and all that nonsense? Give me a simple comp plan so I can blow it out. Most newbie’s just want to get started and make good money. But once they see that the comp plan is ridiculous they get discouraged. Check to see if your company does charge backs. Check and see how soon you can get the big checks. This is important. This leads into the next mistake.

Start An MLM Business Mistake #2

They start out with low ticket item products instead of top tier opportunities. If you’re looking to earn serious money in a hurry, it’s very hard to do so selling a $12 product or service. This also discourages a lot of network marketers. I suggest you look for top tier opportunities where you can make big bucks in a short period of time. How? Easy. You aren’t selling those low ticket item products and instead you’re getting bigger checks sooner.

If you want to earn 10 grand per month reverse engineer from that $10,000 and see how much it would take you to get there. With a $12 product that would take the efforts of you and your downline moving something like 830 products. Ouch. But if we’re talking a product that goes for $500 it doesn’t require a whole lot more of an effort if done right. And the rewards are out of all conceivable proportion.

Start An MLM Business Mistake #3

This is a big no-no. So many people make the mistake of following their company directives and recruiting their family and friends. They think this is the best way to do it. Well I feel this is false thinking.

I have personally lost friends over this. After trying to recruit one of my buddies into two of my opportunities he stopped taking my calls. He started acting cold towards me. And he told my friends that I’m trying to use him. Well that’s what I get for trying to mix business with friendship. Some people don’t take it the way us entrepreneurs think.

We think we’re sharing and helping. But to someone who is content with a 9-5 our thinking just doesn’t make sense. Besides, my friend wasn’t even a targeted prospect. He had no interest in my products.

The better way to do it is let people find you through your marketing materials that speak directly to them. Now instead of chasing and losing friends, you’ll have someone who is interested in your business and targeted. It’s much easier to add people into your business this way.

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Are You Committing These Business Mistakes?

You have decided to take your business online. But are you doing what your website needs to help people see your website online. Your website needs certain things for your visitors and for search engines. Search engines help visitors find your website.

Do your visitors know what to do?

Most business websites design a website and then forget one important feature on the site. Your potential clients and customers, the visitors of your website need to know what to do on your website. They need a call to action. They need to be told what you want them to do.

What do search engines think of your website?

Search engines do not like it when your website had a lot of coding. Coding is what your website needs to put it online. While your visitors just see the website, search engines see the coding and a text that you have for your visitors. If the coding hides the website, the search engines will not rate your website well.

Are you using keywords?

Keywords are terms related to your business. You want your website to rank well for terms related to your business. When you use the terms related to your business on your website, the search engines rate you better. By search engines rating you better, you are higher on the search engine rating.

How are you collecting leads?

Visitors to your website are interested in your business. Many websites offer a gift related to the business to their visitors. For people to get the gift they have to give their email address and information. You explain that not only do they get the free gift, they also sign up to your newsletter. You now have permission to email them regularly, you can also email them when you have sales and specials.

What are the benefits of your business?

This is a big business mistake made. Businesses like to talk about features, but clients and customers want to know about the benefits you offer, not features. Your paint has additives that make it last longer, this is a feature. A benefit is that you will not have to paint again for 10 years.

Is it time for a change?

If you just got started online, then this is just a matter of getting started right. If you have a website, it is time to change these business mistakes. When you use these things on your website your business and site are going to be noticed, which of course means more business and income for you.

Most Common Online Business Mistakes to Avoid

Not all online business opportunities are the same. Too many times, people make mistakes in the choosing. Here are top ten internet home based business mistakes to avoid:

Mistake #1. Believing that network marketing will make you a millionaire. Yes, it’s true that some people have grown rich out networking. However, this doesn’t mean that everybody who’s into networking will all be millionaires. Be realistic. A legitimate online business can be a great source of income but don’t expect to earn millions out of it.

Mistake #2. Joining a network that will not require you to sell anything. What no products to sell? Some people may be tempted with the idea that they’ll earn big without the need to sell. Yet, this should be a warning sign for everyone that the business could be a fraud. Any business that expects to make decent earnings should have something to offer their customers. Without products to sell, where do you expect to get your money?

Mistake #3. Expecting to earn huge cash in just a short time. Every marketer should realize that venturing in a business is not an instant money-making scheme. In order to see results, you need to exert lots of effort and it usually takes time.

Mistake #4. Going for the easy money. Again, the importance of hard work cannot be emphasized enough. If a certain business opportunity promises you easy money, back off right away.

Mistake #5. Taking something for free. Marketing lines such as “you’ll get a free product or free cash bonus just by signing up” are one of the things you should watch out for. Before grabbing any offer, it is best to take a good look at the background and reputation of the company and the people behind it.

Mistake #6. Not doing your homework. Every aspiring network marketer should take the time to do his homework. Research about the company’s history and background. What is the company’s track record in the business? Who are the members of the business? What do they have to say about the company?

Mistake #7. Investing huge money for the sake of profit. Putting in a large investment is a very risky step when it comes to network marketing. If you’re promised to double your investment after a given period, don’t believe it. Nobody can guarantee the result of business, especially not in networking. Better yet, stay away from online business opportunities that require you to submit a payment.

Mistake #8. Not considering the quality of the products. Before joining an online business, make sure that you’ve also done enough research on the products you’ll be selling. Are they of high quality? Would people be interested in buying? Do you have target prospects to sell your products to?

Mistake #9. Jumping from one MLM to another. Don’t get your hands full in managing different businesses at one time. Focus on just one online network marketing business instead and do your best to gain results.

Mistake #10. Giving up right away. As soon as you have found a legitimate online network marketing business, be sure to have enough patience and determination to stick with it. Not seeing results on the first few weeks is not a sign that you have chosen the wrong business.

Copyright (c) 2010 Luie De Von

8 Home Business Mistakes to Avoid

Running a home business is demanding enough, making mistakes can lead to bankruptcy. Learn what you need to avoid so you are successful. Below we will discuss 8 home-based business mistakes to avoid. They include, lack of research, drive and education. Making yourself aware of the pitfalls is a sure-fire way to put you on the right track to success.

1. Not Researching Your Business Idea First

Make sure you research every aspect of your home business idea first. You don’t want any surprises jumping out when you least expect them. Particularly be aware of all the financial risks your home-based business entails.

2. Treating Your Home Business As A Hobby – It’s a Job

Your home-based business is exactly what the name says. It is an economic system wherein goods, and services are exchanged for money. If you don’t take it seriously, you won’t make any money. It’s as simple as that.

3. Attempting To Master Everything At Once

The human brain is not set up to learn everything at once. It learns in stages. This is why the education system is designed the way it is. If you try to master every aspect at the same time you will exhaust yourself. Learn everything in stages. Don’t try to do 10 things at once, it doesn’t work in business.

4. Not Being Willing To Work Over-time To Succeed

The more work you put in, the more profit you make for yourself. You can’t have the attitude that you will only work a limited number of hours. You are self-employed when you own a home-based business. You are the key money-maker and problem-solver. There is always something you can do. Remember, if you don’t do it, no one will.

This doesn’t mean that you will never have a day off. In fact, you should always take at least one day off a week, to rest. This will help drive you for the other six days.

5. Not Investing In Your Home Business When Needed

There will always come a time that you will need to invest money in your business. You can never do enough marketing, and there is always product or service improvements to make. For example, one investment you will have to make is placing paid ads in newspapers, magazines and the internet. Even though there are a lot of ways to advertise for free, these methods have limits.

As well, you will eventually get exhausted doing everything yourself. At some point, you have to outsource. If you try to save money and don’t invest in an expert, parts of your business will suffer.

6. Investing Too Much Money Without Seeing A Return

If something isn’t working, try a new method. Always monitor your investments to see if they accomplish what they are meant to. Just because you hear that something did wonders for another business, it doesn’t mean it will have the same effect on yours.

7. Not Managing Your Time Effectively

Time management is the key to any business, use your time wisely by following these 5 tips:

  • Prioritize tasks from most important to least important
  • Set goals for each task
  • Set specific times for social marketing (it is too easy to get side-tracked).
  • Take breaks
  • Do your most important tasks when you are more alert, and save the ones that need the least mental focus for later in the day.

8. Not Promoting Your Home Business Or Researching Effective Marketing Methods

To start up and grow your home-based business you have to promote it constantly. You always want new customers, and the best way to find them is by marketing your business. There are many ways to market your business effectively, so always research new methods and test them out. Educating yourself only makes you better in business.

By avoiding the above eight mistakes, you have a great chance of being successful with your home business. Take these points to heart and plan for success.