When you get to where you’re going, where will you be?

If you can’t answer this question, you may need to ask yourself a different question:  Why are you in business?

Anyone can start a home-based business in the MLM Network Marketing industry, but to be one of those businesses that succeeds and continues to flourish isn’t so easy.  As a small business owner, it’s essential that you establish a vision for your business in order to understand where your MLM business is headed.

Another way to look at it, do you want to be in business for the long-term or short-term?

Here are 7 areas to review to have a complete picture of where your business is headed:

*Define success for you and your MLM business.
Successful businesses get what they want because they know what they want. Remember that there is the dictionary description of success, your business associates description of success, and your description of success.  Which description do you go by?

*Why are you in business?
Bottom line:  we’re all in business to make money.  So what does making money mean to you?  Does it mean fulfilling your passion for helping people?  What will the profits from the business provide?  Always keep in mind that just because you’re passionate about helping people doesn’t mean the people you’re helping want what you have to offer.  Your business must be a profit-producing investment or you have no business.

*Define what business you’re in.
Are you in the business of providing alarm systems for commercial properties, or are you in the business of providing security for business assets acquired by retail establishments? (see the distinction)

*Define your targets.
You can’t hit a target you never set.  You must have your goals (targets) clearly defined including action steps to achieve them.

*Understand the economics of the deal.
First determine the financial considerations of the business you’re starting, and then understand the profit margins of the product or service you’re selling.  You need to know the financial picture of your MLM business, don’t leave that up to your accountant.  They don’t understand compensation plans anyways.

*Define the perception of your chosen industry.
Perception in business can make or break your efforts.  What is perception?  In business it is recognizing and interpreting information.  What perceptions do you have of your industry?  What perceptions does your target market have of your industry?  Special note:  Managing perceptions in business is truly about managing expectations.

*Are you a good strategist.
Businesses who consistently win have a clear strategy. A good strategist develops long-term targets while hitting short-term targets while managing day-to-day activities. Why have strategies?  So your business stays on course, and avoids any alternative that does not get you closer to the established long-term targets.

By defining where your MLM business is headed, you’re on your way to establishing a long-term business enterprise.

Tags: home-based business, MLM business, MLM network marketing industry, selling, strategy

Technorati Tags: home-based business, MLM business, MLM network marketing industry, selling, strategy

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This entry was posted on Friday, July 11th, 2008 at 5:50 am and is filed under MLM - multi level marketing, Network Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.