Steps for Setting Up Your Home-Based Business for Success by Sue Seward
Steps for Setting Up Your Home-Based Business for Success
How successful would you like your home-based enterprise to be?
What is it that some business people do to become successful while so many others struggle and become frustrated, overwhelmed and stuck in analysis of paralysis? Are you treating your Network Marketing venture like a regular business or do you consider it a hobby?
Here’s a few suggestions and recommendations of what I’ve done over the years to develop a full-time career income and so have many other successful entrepreneurs in the Direct Selling – Network Marketing profession who have earned 6 and 7 figure incomes.
Everything starts by treating your network marketing enterprise like a regular business and that means making sure it’s set up like a business right from the beginning.
If your plan is to attract the right kinds of people i.e.: entrepreneurs, business professionals and those seeking to become entrepreneurs and business owners, into your business, it best that you present yourself as a professional right from the start.
Every wise business owner starts with a plan for success, sets their goals and puts them in writing. These goals can even be shared with a trusted confidant, business coach, pastor, or family member to help them stay accountable and stay on track.
Proverbs 16:9 says, “The mind of a man plans his way, but the Lord directs his steps.” God honors a Plan. Without a clear concise plan, confusion is inevitable.
-Every serious business person starts with writing a ‘business plan’ – goals and plans are extremely important for your success because they give you a road map to follow and keep you on a clear path. Of course, when goals are met, other goals are set, some goals may not come to fruition due to some unforeseen circumstance. Any course of action can always be re-adjusted.
Once your plan is in place it’s time to start taking some ACTION by following the plan to achieve your goals!
Here’s some advice in setting up a qualified home office: (qualified meaning for tax purposes. There are a lot of great tax advantages available to home business owners so make sure to be informed so you don’t miss out on thousands of dollars you could be keeping in your bank account. Always seek the advice of an accountant for home business tax questions. See below for a recommendation of someone I’ve known since 1998.)
-Obtain a separate phone line – which may actually be required for tax purposes – (check with your accountant).
This is important because you do not want your children or anyone else answering your business line or on your voice mail. It does not present a professional image and you may not be able to deduct that expense if it’s considered a home phone. *Consult your accountant.
-Put a professional outgoing message on your voice mail. No kids, dogs, husbands, family, or other non-professional agenda on your business voice mail. For instance, on my voice mail on home office line and mobile people hear – “You’ve reached the home office of Sue Seward. I’m not available to take your call at this time. Please leave a message with your phone number even if you think I have it and the reason for your call and I will get back with you as soon as possible. Looking forward to speaking with you!
-Obtain a voice mailbox 800# to use for advertising, business cards, and flyers. This way you do not have people calling your phone line at all hours of the day and night and they cannot trace you to your home line for safety reasons. Optional and a business expense.
-Obtain a professional email address – preferably your first and last name or your business name – it’s better not to use anything hokey for a business email address. I always use my first and last name. This also helps to brand your personal or business name.
-Set up a separate office area in your home. I use one of the bedrooms exclusively for my office. – this can be required for tax purposes – *check with your accountant
-Obtain business cards – all professionals use them and preferably order them from your company or printing service and not printed on your computer – business cards are one of the most inexpensive tools available to a business entrepreneur. Check the affordable service online below.
-Order appropriate sales aids from your company – *ask your mentors what they use and recommend or use what’s appropriate for your situation.
-Keep a file with all your business receipts for the year. Keep a mileage chart if you are using your vehicle for business.
-Use online marketing systems that duplicate your efforts effectively. This helps save you lots of time because these systems send out messages for you while you are doing other things to build your business or spending time with your family. These systems all have an opt-out link for people who are no longer interested or have already joined you in your business. The best thing is when your company offers these online systems for free. Already set up ready for you to plug in and start building your business. In the old days, us pioneers had to build these systems ourselves. It took hours and hours of our time. It’s also important to be professional when networking and marketing in social media. Just a bit of social media etiquette goes a long way to show someone’s integrity. For instance, on Facebook always be considerate of other networkers who are posting about their business on their own personal profiles and never ever post a link to your personal website unless you’ve gotten permission from them first to do so.
-Attend company events especially your own company conventions – remember these expenses are most likely all tax deductible for business owners. Keep all receipts when traveling. It helps to write on each receipt what it was for. – *check with your accountant.
-Plug into conference calls and training calls especially when first starting out and if you’re an experienced Network Marketer and have joined a new company attend all calls to become familiar with the new company. Your organization will also see you attending calls and will most likely follow in your footsteps if they are serious about becoming successful in their own enterprise. (Remember you’re an advisor and a messenger!) Each person has to decide and take these steps for themselves based on their own personal reasons (we always call that the BIG why).
-When first starting out try to spend 80% of your time prospecting for customers and business partners. Personally, I love working with people I enjoy being around so I’m a bit picky when it comes to my business partners. I’m always up for customers who are looking for our product because of a passion to help people with their health.
-Sponsor two, three or five people depending on your company’s compensation plan and plug them into a SYSTEM that duplicates, help them to sponsor some people and then sponsor some more and keep on doing the same thing and teaching others to do the same. Remember that customers will be the backbone of your business. A long term loyal customer who orders products over and over because of the results they see is the key to retention in any solid business.
This way you are plugging people in that you sponsor and some of these people will duplicate (not all will, some will remain customers for life if you have a really great product that gets results) and this is where you’ll start to see some leverage developing. (read more below).
-Get with your sponsor and leaders to work with you in the beginning if necessary. Ask for coaching when you need it. They want to help you to succeed because when you succeed they succeed too. Remember they are usually busy but not too busy to notice a squeaky wheel!
-You may even want to consider setting up an LLC or Corporation instead of filing as a Sole Proprietor. *this really depends on each person. Speak with an accountant about some options and what is best for your personal business situation.
Follow the advice above, be coachable, stay positive, believe in yourself, believe in your success, believe in God’s plan for your life to succeed, continue to learn and grow, don’t give up too soon.
If someone is not successful it could because they are not coachable, have not set up their plan, refuse to plug in properly and/or they just give up and quit way to soon and some hop from company to company every other month looking for the greener grass. The only time I would recommend considering a change is if there is some serious issue going on with a company, an upline, sponsor, etc., or there’s no belief in the products a company distributes. Always seek advice and wisdom about this from someone who is experienced in this industry.
Have you planned to improve the quality of your life and others lives? Think about WHY this is important to you? How can you be of service to others? That’s all a part of writing a Success Plan & Goals to stay the course.
In developing a successful business career, you will learn more about yourself and develop skills and talents you never thought possible. This can be priceless because you will be able to take the experience, talent and skill sets you learn anywhere you go for the rest of your life and best of all pass them on to others like I have been so blessed to do.
Your Business Resources –
Home Business Tax Info. Find out about the tax advantages available to home-based business operators! Ron Mueller’s book let’s you know about IRS-compliant deductions and tax savings. Don’t let another year of unrealized deductions from your business activities accumulate! Order It’s How Much You Keep That Counts Not How Much You Make. The Ultimate Tax-Reduction System for Small & Home-Based Businesses. Learn More at – https://bit.ly/2vUUAjh
Budgeting and Financial Management – (my husband and I are graduates of Dave Ramsey’s Financial Peace University November 2017). Learn More at – http://www.daveramsey.com
Training & Personal Development –
Home Business Training – Resources – Product Recommendations Learn More at – http://www.sueseward.com
The Network Marketing Magazine Online (some of my articles are published here)
Learn More at –https://www.thenetworkmarketingmagazine.com/
A conversation with Sue and a couple of her longtime friends in the biz, Jim Gillhouse and Troy Dooly on ACES Radio Live Learn More at – http://tinyurl.com/rasxk7
If you need help, just ask…
All the best,
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