So now that you have signed up to join a network marketing company, what is the next step and how do you start building a business? Your upline or sponsor should provide you the necessary training on how to start, but if you have not heard anything from your sponsor once you have signed up, make sure you follow these five steps when starting to build a network marketing business.
The first step of building a business is to set clear goals. If you have already set your goals for both your business and for your personal life, take the time to review and refine your goals, and set a plan of action for completing them. If you haven’t set your goals, make sure you spend a couple of days working on your goals. Once you identify your goals, identify the potential obstacles that you might encounter that could prevent you from achieving your goals. For example, do you lack financial resources? Or perhaps you lack training? Take some time to think about the solutions to these obstacles. Finally, write an action plan to complete each goal.
Next, envision the direction of where you want to take your business. What do you see happening in five, ten, and twenty years? What will you accomplish as a result of your business? By having a clear vision, you will be able to prioritize your work and help yourself make decisions.
After setting your goals and creating your vision, go to your company’s website and make sure to download information such as the company’s mission statement, vision, products, services, compensation plan and policies and procedures. Make sure to pay particular attention to the information on the company’s products and/or services so that you can get an overview.
The next step is to master the skills of a successful network marketer. Perhaps the most important skill to develop is your leadership skill. Become a student of network marketing, and attend training seminars, read books, and listen to audio programs that will help you build your marketing business. Brush up on skills such as sales, networking and goal setting. You can do this by modelling after successful people in the industry, so it’s very important to have a strong mentor.
Finally, organize your work environment. Find a suitable place in your home to do work, such as a corner of a bedroom if you do not have a spare room to set up as your home office. Some people like to work from the kitchen or dining room table. Make sure to speak to a qualified accountant who can give you advice on tax and IRS requirements for having a home office and what counts as a business expense. You will most likely receive a 1099 form instead of a W2, so make sure you understand the differences in tax structures.
In addition, make sure you have a lot of privacy, especially when you’re using the telephone and speaking to prospects. You don’t want to have your children screaming or dog barking while you’re in the middle of an important conversation or presentation. You’re no longer in a corporate environment, so make sure you have the proper equipment and basic supplies such as business cards, computer and printer, notebook, stationery, and a telephone.
Good luck with your new home based business!