Why is your paycheque so small? Or why didn’t you get paid? After all you showed up for work!
Did you know over 20% of home-based business startups fail in their first year?
30% fail in the second year and 50% fail after 5 years in business. By the 10thyear, 70% are gone. Several factors contribute to business failure but today I’m going to touch on 3:
- Inadequate research prior to start-up
- Poor foundational business practices AND
A lot of people complain they don’t make money as independent distributors or home based business entrepreneurs. I ask them, “How did you test your dream before you started?” “What methods do you have in place to follow-up with their team or customers?” Some say, “Research, what research?” or “I don’t have the time” or “I don’t like talking to people on the phone”. Yet there is an expectation they will succeed and get paid. So the vast majority will not get paid and they will immediately blame the company or “The system doesn’t work”
LIGHT BULB MOMENT: It’s because they didn’t WORK!
Home-based businesses are different. You are your own boss. You set your own hours. You choose to work with the person looking back at you in the mirror. You choose - “Do I work today or not?” Regular jobs have start times of around 8am and quitting times around 5pm. There is a built in structure which many people need. There is usually a boss, supervisor or manager watching them. Some companies have time clocks. Some jobs have quotas that if you don’t meet them you don’t get paid. Some are commission only – no sales, no pay. “Do the job or out the door you go!” As an independent distributor or home based business entrepreneur there is no salary cap. Your income is totally dependent on the time you work and the effort you put into it.
My husband is a farmer. He had to invest in the land, the tools, the machinery, the trucks, and all the inputs. As a home business entrepreneur I had to invest in the tools of my trade, place advertising, invest in professional development training and a lot of technical IT training, and spend hours connecting with people all before I got my first cheque.
Now if I just showed up and did nothing...didn’t learn how to implement strategies for marketing, social media ins and outs, learn new client management systems and lots more, I wouldn’t get my first client or get paid. If my husband just sat there and hoped the seeds would get planted and the weeds would go away, or the machinery would fix itself, he wouldn’t get paid either and worse, people wouldn’t get fed. That’s called consequence of action. Whatever we choose to do always has a consequence. The input of WORK has a direct impact on the amount you get PAID wherever you work – whether that is for someone else as an employee or as a self-employed entrepreneur.
A Network Marketing Company (NWM) provides you with some of the tools and materials, the job (to build a marketing sales team and build a customer base) and all you have to do is show up and work it baby! Work it! The start-up costs are a lot less than purchasing a franchise; the difference is the business model. That’s it. You must connect with people and advertise your business. This is where the most of the people stop. They don’t make money because they don’t even bid on any jobs yet – or like in the farmer’s case, buy the seeds to plant and enter into contracts for sales of their product to the world market! When you plant the seeds not every one of them comes up. You hope for that but it doesn’t always happen. You want high stress? Become a farmer and put millions of dollars into the ground and hope the weather is good for a productive harvest and your once a year paycheck!
Network Marketing Business Model has it’s own methodology for the sole entrepreneur distributor. Like every business, you need to have a solid foundation in place to allow you to connect with more people than one to get a sign up or customer. To grow fast you need systems in place that allows you to leverage your time. You need to help your business team members do the same. You have to show them how to get the proper tools, place their advertising, adjust their client intake to their business model and get their commitments. Then repeat the whole process over again. The process doesn’t stop. It just keeps going. If you stop going to work and doing the job you were hired to do as an employee you wouldn’t get paid or you would get fired. Guess what? Home-based businesses are just the same – it doesn’t matter what business model you have chosen; whether a sole proprietor as a plumbing contractor, electrical contractor or an independent distributor. You need systems in place to leverage your time and energy and to provide a seamless, gratifying service to your customers.
The Network Marketing business model is also the same when it comes to the pay cheque. No work – no pay. Period. The benefit of being with a Network Marketing Company is simply this: you have an immediate network of people helping one another succeed, with built-in training and support to help you succeed as an individual; whereas a sole proprietor plumber has to build a network over time which takes away from his income producing activity.
So if you are a Network Marketer out there and you hear others saying “The program doesn’t work” or “The Company is to blame” you can expect it’s one of 3 things:
1. They didn’t test their dream before they started.
2. They didn’t research the company before they applied or signed up.
3. Their expectation was really off base when they signed up. They just wanted to ‘show up’ and get paid.
Are you seeking to ‘spark’ the inner hero within and start your own business?
It's OK to Dream Big - just be sure to TEST Your DREAM first.
Like this article? There's more Savvy News you can subscribe to!
Get it right to your in-box!