Where Will You Be In 5 Years?


By Bonnie Ramsey


Whether you are an employee in a manufacturing plant or the CEO of the company, your job may be eliminated at any point with little to no notice. You may even have 20 to 30 years on the job and still find yourself in an unemployment line, benefits running out and having difficulty finding a job due to lack of experience and training in other areas, age related health problems and many other factors that will decide your future employment.

So what can you do to protect yourself from this situation to insure that you will have an income that will be steady and not dependant on the call of the "upper hand" of management and ownership? The only way to be sure that you will have conitinuous income is to create a business network of your own that you know will continue to grow and prosper. The most profitable way to accomplish this is in network marketing, also known as MLM. Now, you are saying, "You have got to be kidding! I could never do that!" Well, I am here to tell you that you CAN! It is no different than telling all your friends about a great product you just bought at the local discount store that you loved or telling them about a new club you just joined! All you have to do is be sure to do your homework and make the decision to become independent. In order to make a good decision on the business you choose to market, simply read and ask questions!

First, you will need to do some research on companies that offer products that are consumable (to be sure that the demand will be steady). Then research the products to be sure that they are of good quality, affordable, unique and in very high demand. This product should also be something that you would use yourself. After all, how can you honestly say that you believe in the products if you don't use them yourself? If you find these products favorable, research the compensation structure of the company to be sure that you will be able to meet the qualifications for your commissions. For example, some companies may tell you that you will receive a certain percentage of commissions for purchases made by your team members. However, in the fine print, you will find that in order to qualify for these commissions, you have to meet a certain sales quota per month for your own personal sales as well as certain quotas for the group sales. While this is quite acceptable for gaining certain bonus levels, it should not be a qualification of receiving your commissions altogether. You should be able to see profits from personal sales as well as your commissions from your team without meeting a particular buying quota for the work you have put forth to recruit and train. Be sure that the requirements are reasonable before you join.

Next, consider the start-up cost! Some companies offer you a sales kit for so many hundreds or even thousands of dollars and in it you receive nothing more than printed information that you could find through other resources for free. Be sure that the package you are paying for has a retail value so that you can get a return on your investment quickly by selling the products you receive. I will give you an example of this. I have joined many MLM companies over the past 25 years so I have been burned before by this. I actually paid 2 different companies $500 each for a start-up kit. In both cases, all I received was a small box of printed materials telling you how to market to your family and friends, a few catalogs, some"tips" on starting your business and so on. This was all information that is easily accessible in many places for free. Nothing in these packets was marketable to my customers so I basically paid for a box of free materials.

Also, if the company requires a monthly auto-ship to qualify as an active dealer, consider this cost. Is it affordable to most? (This will determine your success in recruiting.) Many companies require hundreds of dollars in auto-ship per month. If it is not affordable to most people then you are limiting your prospect field. Also, consider what you receive in your auto-ship. Can you sell these items and make an immediate profit? If so, then the auto-ship becomes a short term investment as apposed to a monthly bill that you have to allow for. If you can not profit from this auto-ship, you are more likely to drop the business during slow times.

If all these factors are favorable and you want to join that company you should think about how you will come up with the initial start-up cost if you don't already have it. Just because you don't have the funds readily avaliable doesn't mean that you can't afford to join. There could be several ways that you could be able to produce the funds needed. I can give you an example of this that was given at a business meeting that I attended recently.

A man wanted to join our business, yet he did not have $50 at the time to begin the auto-ship. He was really fired up and ready to get started so he had to ask himself what he could do to get the funds he needed for the first shipment. He asked himself what he could give up for 30 days that would equal the fee for the shipment. He then sat an empty soda bottle on the table and said he had figured he could give up 2 of those a day for 1 month in order to start his business. Today, that man is on his way to building an excellent business just because he was willing to make a sacrifice in order to change his future. This was only necessary for the initial shipment due to the fact that the products received were profitable and when sold, could pay for the next auto-ship. This is why it is so important to be sure that any auto-shipment you agree to is resellable for a profit. This, in return, pays for itself to eliminate the worry of a "monthly bill".

Now that you have come this far, consider the different ways to make money with this companny. Is it strictly retail profit or are there several different avenues of making money? For example, can you do fundraisers, home parties, office parties, flea markets, internet sales, open your own store or other avenues of selling this product? Can you make enough profits to earn a good income without recruiting if you didn't want to build the team? Be sure that the company will afford you a good profit income in whatever avenue you decide to take. If you are strictly into the sales without recruiting and building, you need to be sure that the profit from retail will be sufficient without the team income. If you choose to do fundraising, will you be able to earn enough in that area without the other profit avenues?

The next thing you should consider is how much time you have to build your business. If you work another job at present, will you be able to build this business working it part-time? If it is not something you can do on a part-time basis, will you be financially able to quit your present job in order to get it started? If not, be sure that it is something that you can build in your time off until you can get it going enough to go full time with it. If you have a family and will be working extra hours, you should consider whether or not it is something that you can involve your family in so that you aren't abandoning them for work. Is this a business that could be family friendly? Can you get your children involved in building your business and selling your products? If so, they can be a great asset to you as you spend more and more time in the initial start-up phase of your business. This is a definite PLUS because your business can be fun and profitable while spending time with family as well.

You should also ask if the business is willable. It would be awful to spend several years building a business that is excellent income just to have it reveret to the company if something happened to you. It is very important to protect your family's interest as well as your own by making sure that they can carry on the business without you!

Another very important factor to consider is your company support. Will your sponsor personally train you in getting your business started? Will the company offer free materials and documents to help you build a successful business? You don't want a business that will sign you up and throw you to the wolves! Be sure to talk to other members and ask questions about the company support as well as some assurance from your sponsor that they will teach you what you need to know to be successful. If you ask your sponsor a question that they can not answer, see how they respond. If they tell you that they don't know the answer but will get back with you on it, see if they carry through. If they get back with you soon and have found the answer, then you can be assured that they are willing to go the extra mile to help. Also, ask about training calls, meetings in your area, company meetings and anything else that is offered for training. Be sure to ask if it is manditory to attend company meetings in order to qualify for commissions. Some companies add this in the fine print and then charge a fortune to attend the meetings that are a must in order for you to get paid. So ask about this as well as any motivational books and tapes you may be required to purchase each month. I have been faced with this problem as well in the past.

You should also check into the company itself to be sure it isn't a fly-by-night gemmick. Read any press releases, newspaper articles or any other info that you can get on the company to be sure they are what they say they are and that they are here to stay. Never assume that just because a company has been around for a while that they must be holding up to their promises. You would be surprised how long a company can do business and not always carry through on their promises. Make sure that the people who run or own the company had expreience in network marketing before starting their company. This affects how the compensation plan is developed as it is more likely to be a good business plan if the person had to start from the ground and build up. It is easy for someone who has never had to start from scratch to tell you that you can invest this and that and that you can build a million dollar business overnight with investing a lot of money in your business because the funds were readily avaliable to them. Be sure that they have been where you are and that they can give you sound advice on how to get started on a reasonable budget.

If you have completed these steps and the company is favorable, you should be reasonably safe in joining the company and beginning a new business that will change your life for the better and put you on the road to financial freedom! And when you hit the rough spots and consider giving up just remember that there is NO job security as long as you work for someone else! If you can commit 20 years of your life to a job with no security at all that it will remain, you should be willing to commit fully to your own business that you can be assured will be steady in growth and profit!

© 2007 Bonnie Ramsey

Bonnie Ramsey

Independent Representative

for Scent Sations, Inc.

http://www.businessscents.biz

About the author: Bonnie is a recruiter, trainer and coach in her own business. Bonnie was selected to be in the 2007 Biltmore Who's Who Among Executives and Professionals. She is a writer of poetry, short stories, articles and a monthly newsletter called Business Scents. You can subscribe to her newsletter at http://www.businessscents.biz/Subscribe.html


More Resources

Designing a Comprehensive Franchise Company Computer System
One of the most important management tools a franchised company needs is a great computer system. The system must integrate with all the franchised outlets and also be able to interface with the Corporate HQ computer system.
Franchises-Exit Strategy
At an International Franchising Symposium in London, Peter Holt made the bold statement to his audience of Franchisors that they needed to understand that their business would fail, and in fact all businesses are bound for failure. Needless to say, there were a few shocked faces in the crowd.
The Use of Common Stock in Venture Capital Transactions
When raising capital for a business venture, a company can either raise debt capital, equity capital or a combination of the two. Debt capital is money loaned to the company at an agreed interest rate for a fixed time period.
Enterprising Route is to Go Your Own Way
DON'T talk to me about education for entrepreneurs. They're pouring far too much public money into it already - not counting the millions some well-known Scottish entrepreneurs are prepared to waste on it.
The Reluctant Entrepreneur
It seems odd to think of a person opening a shop, knowing that they're not at all interested in selling or in face-to-face interaction with customers. But that's exactly what many Internet business owners have done.
Be An Entrepreneurial Artist: Paint A Picture, then Commit It to Canvas
James had an original concept and he needed an investor. He had a compelling business idea that was a sure winner with the right financial backing.
Are You Sure You Want To Start Your Own Business? Part Two of a Series
Why, exactly, do you want to go into business for yourself? Is it because you cannot stand the thought of working for an uptight, demanding, and perfectly dreadful boss?Is it because you cannot bear the thought of going through another downsizing or restructuring, knowing that your job could be on the line?Is it because you want to be your own boss, call your own shots, or see more up side in your earning potential, with the possibility of financial self-sufficiency? These are all good reasons for wanting to go into business. In fact, studies have shown that many entrepreneurs get their start due to some life-altering experience such as losing a job or finally walking away from a dead-end job or a demoralizing work environment.
Business Start Up Tips From Some Hearty Entrepreneurs
When's the last time someone asked you: "What's new?"If you're starting or growing a business, an e-business, or a web site, the answer is: "Everything!" - especially on the inside.Face it, launching a new enterprise - or taking it to the next level - can sometimes feel scary and overwhelming.
Oil Change Guys History; Part III
Studying the history of franchise companies is interesting is watching all the ways they grew and all the partnerships, vendors and mergers along the way. It is a myriad of deals and team building, which makes it all possible.
What is Entrepreneurship?
In discussing entrepreneurship and writing articles on the subject, I have found that it aids understanding when we begin by agreeing on exactly what the word means to us.Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled.
How to Be an Entrepreneur and Keep Your Sanity
Define for yourself what an Entrepreneur is:What makes you think you can start and grow a business?Do you make something that people just have to have?Are you talented in a way that make you stand out from the crowd?What makes you different from Joe Schmoe?Conduct a quick skills assessment and ask yourself what makes you stand out from the rest?What are your ultimate goals? Why are you striking out on your own?
Raising Capital for Your Business - How Long Does it Take?
Most companies vastly underestimate the time commitment necessary to successfully complete a financing. In actuality, a company seeking financing needs to budget between 500 to 1000 work-hours to the capital-raising process, spread out over a 6-9 month time period.
Veteran Entrepreneurs Are Growing In Ranks
When I'm not running my own business, writing articles about business, speaking to groups and organizations about business, or consulting with companies who want my advice about the running of their business, I teach a weekly class on the subject of (care to guess?) starting and running a business.To quote my frequently-mentioned and wise-beyond-her-years teenage daughter, Chelsea, "Dad, you really need to get a life.
About Ending Competition
1. Why should I not compete with others?The very concept of "competition" is fear based.
10 Tips for Would-be Entrepreneurs
Every evening as the sun sets beyond the mangroves that line the shore along the western bank of Lake Myakka, Florida, herds of wild deer and wild black pigs come down to the water's edge to drink and slake their thirst.I have seen them up close and it is a beautiful, peaceful and inspiring sight!Every evening as the sun sets beyond the mangroves that line the shore a horde of hungry alligators wait just below the surface and watch for their prey.
Corporate Espionage in Franchising
Franchising Trade Journals do not do well, because today with all the industry regulations only about 1800 active franchise actually exist in the US. Down sharply over the past five years.
Venture Capital Negotiating Issues
When companies enter into negotiations with venture capital firms, there are several issues which need to be defined and agreed upon. This article describes the key issues.
Work On, Not In Your Business
Are you busy? Everyone's busy! Ask anyone they'll tell you how busy they are. But how many people are accomplishing real results?In your small business, it's easy to get buried in the myriad activities that demand your attention each day.
The Heroic Entrepreneur: Profiting from Your Brilliance
If you look up the definition of hero in Webster's, you'll find a definition something like, 'A person noted for feats of courage or nobility of purpose, especially one who has risked or sacrificed his or her life: soldiers and nurses who were heroes in an unpopular war'. Some heroes in our lives have earned that badge of honor by doing something everyone feels is heroic as defined in the traditional sense, whether it's running into a burning building to rescue a child, pulling an injured woman from a car accident, or fighting the enemy in the time of war.
A Dorm Room With A View
As a senior in high school, he paid cash for a BMW with money made by selling newspapers. In 1983, as a college freshman, he sold custom-made PCs and parts out of his dorm room?hiding them behind his roommate's shower curtain whenever Mom and Dad visited.

More Entrepreneurialism Information:

Related Articles

Focus is the Key to a Successful Startup
The definition of a startup means you have very few resources to employ and little time to get them to do something valuable. The clock is always ticking, and the money (if you even have any) is running out by the day.
How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!
I have worked in the credit industry for over 17 years now. When I first started out, I only knew a very few women in the industry.
Adding a Service After You Buy a Business
When you buy a business, you should have a plan. Why have you chosen that particular business? Why that particular time to buy a business? What can you bring to the business? Some of the most successful business stories are of people who buy a business with the intention of bringing their specialized set of skills to it, and using them to grow the business.
Securing Second and Third-round Venture Capital Financing
Widget sales are booming - the competition is scrambling, demand is up, and the books are finally treading water. Your core management team has big ideas for the future of Widget Inc.
CHINESE TAKE-OUT: Oriental Business Principles Demystified For Online Enterprises
"The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools."- ConfuciusChinese people are well-renowned for their industriousness and extraordinary minds for business.
Selecting a Venture
The basic rule is simple: "Find a market need and fill it!" The process of finding the need, and the method chosen to fill it are where the difficulties arise.Based on our opportunity scan, does the market need a product or service that is not currently being provided? Is there a needed product or service currently being provided in a less than satisfactory way? Is some particular market being underserved due to capacity shortages or location gaps? Can we serve any of these needs with some competitive advantage?Remember that a business idea is not a business opportunity until it is evaluated objectively and judged to be feasible.
Prescription for the Future and Technological Revolutions
The world sure has changed in the last two-decades hasn't it? When I started out in business, there were no cell phones, fax machines, computers, etc. And I am not that old, having just retired at age 40.
Differentiation Strategies for Franchise Companies
With the growing number of franchise offerings recently it is difficult for the smallest franchise companies to compete. They generally do not have the advertising budgets to pick and choose which markets the franchise prospects will be calling from.
History of Enterprise Car Rentals
So few really understand the drives and motivations of entrepreneurs. Many write about them, some lecture and teach about what they are, how they operate and what they have achieved; yet so few really understand them.
The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money
This year more than 17 million people will become entrepreneurs, according to the National Association of Self Employed (NASE). By the end of the year, 8 million of them will return to the corporate world because their entrepreneurial effort did not succeed.
Find Out If You WILL Be Successful As a Franchisee?
Will I be successful as a franchisee?One of the soundest pieces of advice to take when considering becoming a franchisee is to 'Assess Yourself'. Assess whether you can accept direction.
Strategies for Overcoming Obstacles to Discovering Your Gifts
What are the unique gifts that differentiate you from other solo entrepreneurs? The path to discovering your gifts may take a lifetime, but you can use the exploration process to begin to use your gifts NOW! Unfortunately, for many different reasons people get sidetracked or never even get started taking the actions that would help them discover their uniqueness. Here are some suggested strategies to help move forward and stay on the path of discovering your gifts.
The Entrepreneurs Dilemma
In business, you plan to protect your inventory, your unique ideas and approach, and your money. It's easy to replenish inventory, come up with new ideas and make more money.
Financial Issues in Business Startup
A primary inhibitor of business start-up is that few people have the financial cushion to give up a job for the uncertain income of a start-up venture. In a recent survey, about 30% of new business founders identified inadequate funding as their biggest hurdle, and a similar amount said lenders were too conservative.
Six Steps to Guarantee Your Business Success
Many of us slave away for years for one uninspiring company after another and dream of the day when we can sack the boss and go it alone.If you're contemplating starting your own business then I'm here cheering you on from the sidelines because the best decision I ever made was to walk away from my well paid but oh so frustratingly boring job and start my own business from scratch.
Traits of The Successful Entrepreneur
Want to know why certain people succeed and others don't. Well successful people have certain traits? Do you have them? Business has changed a great deal over the years.
Does It Really Take Money To Make Money (Online or Offline)? A Reality-Check of 2 Case Studies
The short and simple answer to this question is NO!Now, before you start screaming that I am crazy, out of my mind, have lost my marbles and all the other things that generally get tossed around when someone has the nerve to state something like that, let me clear a few things up.It does not take a monetary investment to get your business off the ground (aside from the everyday items you already have around your house).
Competitive Edge
In his book, The Road Ahead, Bill Gates of Microsoft writes of "friction-free capitalism" made possible by developments in communications, chief among them the Internet and its World Wide Web. In this context, "friction" is everything that keeps markets from functioning as the "perfect competition" of economics textbooks.
Independent Auto Detail Shop VS Biz Op or Franchise
Owning a detail shop can be an exciting and rewarding business indeed. Many times an owner of an independent Detailing Shop will wish to add those items he/she believes their customers want.
Create Your Entrepreneur Dream Team
I hear it all the time. "What should I do about .