Just The Basics – How to Start Generating Income In Your New Network Marketing/Direct Sales Business

Whether this is your first year in a home business or your tenth, there are some basic things that you should do in order to start generating regular income.It is important to understand that your attitude is critical when it comes to being successful in any business. Therefore, you must start your new business with the mindset that it is a real business. The fact that you are working from home does not change that. It certainly doesn’t stop you from earning a tremendous income should you desire to do so. There are people just like you that literally earn millions from the comfort of their homes . These people not only recognize the potential of the industry but always treat their businesses with the respect and dedication that they deserve.Personal growth comes before the fortune. You may have heard that before in one form or another. It simply means that you must educate yourself first and the money will follow. Can you bake a cake without knowing the recipe or how to operate an oven? How about drive a car without knowing how to get it started? Do doctors practice performing surgery before they learn the skills required? Hopefully, you will get the picture. It doesn’t matter if you are doing something as simple as baking a cake or complicated as brain surgery, you have to learn some fundamental skills first or you are certainly headed down the path to failure.So, what skills are required to build a profitable home business? Assuming that you have already mastered having the right attitude about your business, here are some basic skills that you will want to learn or improve.People SkillsTime Management SkillsMarketing SkillsPeople skills are required because this is really a people business and not necessarily a sales business. Yes, there are plenty of individuals and teams that teach sales techniques as the primary way to build their businesses, but it is not always the best solution for the average person in network marketing. Most people are resistant to this method of team building and it makes it very difficult for them to grow a profitable business. There are always exceptions but we are not talking about those people. By developing some basic people skills, it will help you to communicate more easily and find out what the other person actually needs. Maybe they need your product versus extra money. It is your job to find out how you can help them and not push them to join your business. You might check your local bookstore for “How to Win Friends and Influence People” by Dale Carnegie.Time management is extremely important because it is very easy to get distracted while working from home. Children, televisions, and other things can result in zero productivity for anyone who is not accustomed to this environment. You must learn how to use your time wisely and to set aside consistent hours each week to work your business. In addition, you want to use your allotted time effectively. That means that you are constantly working on tasks that will help to truly grow your business. Organizing your office every day may indirectly help in having better time management but it really isn’t a “business growing” activity. Focus your time on tasks that will expose your product or service to potential customers or partners. It is very difficult to be successful without good time management skills.Marketing is an income producing activity and another critical skill that you should constantly learn and improve. Marketing is a very broad term but it basically means “the activities involved in the transfer of goods and services” or how to get the word out about your offer. Creativity and consistency are two words that come to mind when one thinks about effective marketing. So, how does a new home business owner go about marketing their products?First, you must realize that network marketing is a business based a great deal on duplication. If effective marketing techniques are duplicated throughout your organization, that provides the greatest opportunity for rapid growth. You should find and use strategies that can also be used by anyone on your team. There are people that have the financial resources to purchase full page color ads in national magazines but that is not the kind of marketing that is easily duplicated by everyone in your business.Here are some other suggestions…Read and learn about marketing tipsLearn from team members that are successfulBe consistent and persistent and market dailyWatch your marketing dollars/budget closelyHire professionals or outsource when requiredEmploy sweat equity or money equityUse marketing that fits your personalityDistribute samples whenever financially possiblePut your business cards into the marketplaceNetwork with other business ownersShare with family and friends when appropriateSearch internet for creative marketing ideasKnow your primary target market and how to find themMany years ago a very successful network marketer told me that success was based on 99% consistency and persistency, and 1% skill. Those numbers may not be totally accurate but the basic concept holds true. If you performed a very simple action of giving out 2-3 business cards daily for 90 days, you are very likely to generate interest, customers, and potential business partners.There are many ways to build a business and start making money in network marketing. However, if I had to narrow it down to just one thing, it is targeted MARKETING.However, keep in mind that having a marketing plan without action is useless. You must commit and implement your full marketing strategy. How many times have you ordered business cards and left them in the desk drawer? Have you ever ordered 100 leads and called only 10 of them? Your business will not thrive unless you tell someone. How you go about telling them is up to you.If you are serious about generating income in your new home business, make a personal commitment for the next 90 days. Find a marketing technique that is a good fit for you and put it to work daily. At the end of that 90 day period, evaluate how successful you have been at being “consistent.” Your check will normally be a direct reflection of your previous daily actions.Remember, “procrastination is the killer of all dreams.” Make a decision today that you want to generate a real income from home. Once that decision is made, identify the products/services that you want to promote, choose a few marketing techniques, and take action. 90 days (or less) is all you need to see measurable results. A few weeks of solid dedication can change your entire life.

Small Business Marketing – How To Do It Right!

There are two broad categories of marketing – one appropriate to small business, and the other not so much so. Unfortunately, a large percentage of small businesses don’t know the difference between the two and they waste money, and loose potential clients and customers because of it.

Two Types Of Marketing

Marketing can be separated into two broad types:

  1. Image marketing.
  2. Direct response marketing.

Image marketing is about YOU and your business. Direct response marketing is about the CUSTOMER and their concerns.

Image marketing is designed to impress the client with how great you are: how professional, fast, award winning, environmentally friendly, etc. It doesn’t address the customer’s needs and it is often filled with “fluff” that really doesn’t have much to do with anything. You’ve seen the ads – beautiful sunsets, soft music, cute puppy dogs, a recital of how great the company is – what the heck that has to do with “selling widgets in Peoria” I’ll never know!

The Best Marketing For Small Business

While image marketing “might” have a place if you are a major corporation with boatloads of cash to burn (I’d still argue that ‘dollar for dollar’ it isn’t as effective as direct response) a small business typically doesn’t have lots of cash to burn and must make every dollar count. Direct response marketing is designed to get potential customers to “do something specific that directly leads to a sale.”

An effective direct response piece is ALL ABOUT THE CUSTOMER! The only thing relating to you and your business should be your contact information – that’s it! The purpose of a direct response piece is to get the customer to TAKE ACTION NOW.

Making A Compelling Offer

The heart of an effective direct response piece is the “compelling offer” you make to your prospect. To do this well you must know your customers inside and out: their problems, their concerns, their desires, their aspirations. As one famous copywriter once said (I forget who), “Your ad copy should enter into the conversation that’s already going on inside the head of your prospect.”

This makes sense, because if you already know what your customers are looking for then you don’t have to “convince” them to do anything. If you simply offer them what they are already looking for then you don’t have to resort to fancy sales gimmicks and tricks.

By using direct response marketing to focus on your customers’ needs and not your own, your marketing becomes an exercise in writing compelling offers and putting them in front of your prospects. If you know your clients well and your offers truly address their needs they will respond.

All About Crypto Portfolio Management

The past decade has seen an exponential rise in the number as well as the investment in cryptocurrencies. It has caused significant changes in the financial market. The crypto market is highly-rewarding and presents an unprecedented opportunity to make short-term and long-term gains. However, the market is also subject to extreme volatility and frequent fluctuation.

Most retail investors invest in a popular cryptocurrency with hopes of making massive gains. However, it is not advisable to put all your eggs in a single basket. All cryptocurrencies experience a period of high rises and lows. This can cause significant financial losses for the retail investor.

Hence, it is crucial to have a risk-adjusted portfolio of cryptocurrencies.

Crypto portfolio management allows you to generate high incomes while managing your investment risk. Let us understand crypto portfolio management and its many benefits.

Crypto portfolio management

For many people, investing in cryptocurrency means buying a few Bitcoins. However, Bitcoins are just a part of the huge crypto market that consists of more than 6500 currencies.

Your crypto portfolio refers to the unique selection of cryptocurrencies you chose to buy. Investor tries to maximize their returns while reducing their risks. The value of your crypto portfolio depends on the market price of these cryptocurrencies.

However, it is essential to understand that different investors have different risk appetites. Hence, what works for someone else may not work for you.

Crypto portfolio management refers to risk management by creating a unique mix of cryptocurrencies.

Benefits of Crypto portfolio management

Some of the benefits of crypto portfolio management are as follows:

1. Diversification

The benefit of a well-balanced portfolio is the diversity it offers. The Crypto market is volatile and highly unregulated. It is very often seen that the price of a cryptocurrency skyrockets and then takes a nosedive.

If you invest in a single cryptocurrency, the changes in the market value of the currency will directly impact your investment. As a retail investor, you may not be able to accommodate such fluctuations, and it can destroy your wealth.

Hence, it is advisable to diversify into a few different cryptocurrencies. This will enable the downfall in the value of one currency to be balanced by the rise in others.

2. More chances of selecting an outperforming asset

When you invest in different cryptocurrencies, you increase your chances of picking an outperforming asset. Years ago, when bitcoin was launched, nobody could anticipate its capability and future market value.

Similarly, there are a few cryptocurrencies that may achieve exponential growth in future years. Crypto portfolio management increases your chances of picking such currency.

3. Rebalance your portfolio

Crypto portfolio management allows you to rebalance your portfolio to help you maintain an adequate ratio of the asset. The gains in an outperforming cryptocurrency are used to invest in other assets to rebalance your crypto portfolio.