Mindset. I was struck last week by how drastic the difference between how an employee and an entrepreneur think. It affects their actions, comfort level, what they value and their risk profile. Although I love my job for the aspects that have to do with creative relationship and systems building, I have strong entrepreneurial tendencies as a freelancer, real estate investor, network marketer and online marketer for many years. Also, I see having multiple streams of income (one of which is my job) as safer than just having a job.
An employee wants a steady, stable job to pay the bills and feel safe. If the money from one job is not enough, they will probably get a second. If they can, they put any extra money aside for savings, college education for the kids, retirement, vacation or maybe a car (not so essential in NYC where I am). They want to be paid as much as they can negotiate and these days, most people stay at a job two years, then move on, leveraging their income and status up with each move (or at least that’s the idea when it works). They like the structure of going to a workplace each day and interacting with other people in a structured workflow, of having medical benefits and, sometimes, even a 401K. They look forward to retirement when they will have time to spend with family and friends, maybe travelling or pursuing a hobby.
An entrepreneur wants time and financial freedom as quickly as possible and is willing to exert significant time and money resources upfront to accomplish that. They don’t work comfortably for other people and are impatient with corporate politics and ineffective teamwork. These are business owners, real estate investors, freelancers by choice (not circumstances), stock and futures traders, franchisees, online marketers, network marketers and consultants to name a few. They are always looking to add to their skills because it makes them more marketable. Their cashflow tends to be variable and some businesses can take 2-5 years before they show a profit. They have a strong stomach for risk and certainty that, at the end of the failures, they will succeed. They must have strong internal certainty that, if they invest focused attention on building their enterprise, it will pay off. Sometimes, they are ahead of the curve and an idea that could (and often does) succeed later, fails. After all, until the Walkman, nobody knew that portable music was an essential element for a rich quality of life. There’s a book called Blue Ocean Strategy about creating new paradigms for business that make the competition irrelevant. Amazing!
Yes, I know these are generalizations and there is more to it than that. So what does your mindset tell you about who you are inherently – an employee or an entrepreneur? Are you happy and fulfilled with your current mindset? As an employee or entrepreneur, how can you expand your possibilities? When will you start? NOW would be good...
Showing posts with label network marketing. Show all posts
Showing posts with label network marketing. Show all posts
Monday, May 31, 2010
Tuesday, September 29, 2009
Dare to Be Bold, Make a Plan and Take the Risk
Time Management
"He who every morning plans the transactions of the day and follows out that plan carries a thread that will guide him through the labyrinth of the most busy life... But where no plan is laid, where the disposal of time is surrendered merely to the chance of incident, chaos will soon reign." by novelist, Victor Hugo.
Risk Evaluation
"How do you judge whether some activity is worth the risk? Do you base it on your fear? No, you should do some things that scare you. Should you base it on the probability of success? No, I don't think that's the answer either. Risk must be evaluated not by the fear it generates in you or the probability of your success, but by the value of the goal." by John C Maxwell in Failing Forward: Turning Mistakes into Stepping Stones for Success.
I have recently joined an A-Team (Accountability Team) with Todd Falcone for producing results in building my AP Flex Plus network marketing team (see Cool Links on left). As I have increased the number of contacts I am introducing daily to my business (whether they say 'Yes' or 'No' to the offer), I am getting more bold and brave in a lot of other areas at the same time. Previously, I would talk to a few people a week and then pin all my hopes on how those few might respond. Needless to say, that did not work very well.
I interact with more people each day. I ask for what I want directly and that is making all the difference. I do what I have not allowed myself to do for fear of disapproval or embarrassment and am more joyful. For example, I have written stories for many years and longed to read them aloud in public. Last night, for the very first time, I read my Maine short story, Swimming the Narrows... First at the Players Club in NYC in front of professional actors, comedians, musicians and poets. I shook for twenty minutes after I finished reading but I DID IT and you could have heard a pin drop while I read! I'm looking forward to stretching further and my next challenge. Scary and exciting!
So I dare you to act bravely and boldly in your own life, if you aren't already, and see what happens for you.
"He who every morning plans the transactions of the day and follows out that plan carries a thread that will guide him through the labyrinth of the most busy life... But where no plan is laid, where the disposal of time is surrendered merely to the chance of incident, chaos will soon reign." by novelist, Victor Hugo.
Risk Evaluation
"How do you judge whether some activity is worth the risk? Do you base it on your fear? No, you should do some things that scare you. Should you base it on the probability of success? No, I don't think that's the answer either. Risk must be evaluated not by the fear it generates in you or the probability of your success, but by the value of the goal." by John C Maxwell in Failing Forward: Turning Mistakes into Stepping Stones for Success.
I have recently joined an A-Team (Accountability Team) with Todd Falcone for producing results in building my AP Flex Plus network marketing team (see Cool Links on left). As I have increased the number of contacts I am introducing daily to my business (whether they say 'Yes' or 'No' to the offer), I am getting more bold and brave in a lot of other areas at the same time. Previously, I would talk to a few people a week and then pin all my hopes on how those few might respond. Needless to say, that did not work very well.
I interact with more people each day. I ask for what I want directly and that is making all the difference. I do what I have not allowed myself to do for fear of disapproval or embarrassment and am more joyful. For example, I have written stories for many years and longed to read them aloud in public. Last night, for the very first time, I read my Maine short story, Swimming the Narrows... First at the Players Club in NYC in front of professional actors, comedians, musicians and poets. I shook for twenty minutes after I finished reading but I DID IT and you could have heard a pin drop while I read! I'm looking forward to stretching further and my next challenge. Scary and exciting!
So I dare you to act bravely and boldly in your own life, if you aren't already, and see what happens for you.
Tuesday, September 22, 2009
Shall We Dance?
I went to Tavern on the Green for a networking event but there were many fewer people there than were advertised. The DJ and music were good, the lanterns were lit, the topiary King Kong towered next to the bar and the dance floor was empty. My feet were tapping, my head was bobbing in rhythm to the music and I wanted to dance but I was alone. My husband was still at work. Surreptitiously, I looked past the close-knit tables of people, the two men talking by the bar, for a single man with fingers drumming to the beat on the bar or head moving in time. YES! I walked over and asked, "Do you want to dance?" "ABsolutely!" Mitch answered. Neither of us cared how we looked (graceful or awkward, sweaty, yup!) so we were free to dance to the music and have fun...
Life is like that. Just having the courage to ask for what I want can turn a good day into a fabulous one... And, when I get lucky (or study the signs to stack the odds), often the other person is of the same mindset.
Life is like that. Just having the courage to ask for what I want can turn a good day into a fabulous one... And, when I get lucky (or study the signs to stack the odds), often the other person is of the same mindset.
Monday, September 21, 2009
How to Evaluate Your Network Marketing Company (Before You Join)
When you join a network marketing company, consider your purpose FIRST.
Will this network marketing opportunity be your part-time or your full-time business?
How much time and money are you willing to spend building your business and for how long?
What return on your investment (amount of money you expect to make) do you need for it to be worthwhile starting?
COMPANY
Does the company have a track record or is it a new launch?
If the company is an established company, it will have more credibility and provide a higher comfort level for your downline but, unless the company changes the comp plan or adds a new line of products to create new excitement about participating, growth will be much slower if you join later. Historically, early movers make the most. However, if a stable company innovates, its progress can be unstoppable because all the systems are already in place and functioning well and credibility is unquestionable.
If the company is a launch, its success and longevity is untested. It may or may not be around in a year, depending on whether the timing is right for the product or service, whether the idea and comp plan are sexy enough to excite interest, whether the company has enough capital to survive growing pains, and whether big network marketing players choose to jump in. That said, EVERY company begins with an idea and being positioned at the top in a successful launch company can be worth millions.
TEAM
Are your upline sponsor and team exceptional leaders?
Your odds of building a successful team of your own improve if they are. In addition to company marketing support (replicated Web site, teleconference calls, Webinars), a great upline can add supplemental calls, Webinars and local meetings). Network marketing stars can also identify the great opportunities more easily than the average person because of their previous experiences. Follow their lead.
Do you like and trust them as your partners in your business?
Determine what values and qualities you need in your partnership for it to work. Code of honor, trust, integrity, teamwork are a good start.
Have they made significant money in network marketing in the past?
If you want to make an extra $1,000, $5,000 or $10,000 a month extra in your business, you need to hang out with upline leaders who have done over $10,000 a month already in a previous network marketing business and can show you how. If you want to make millions, learn from millionaires and do what they do.
PRODUCT
Do you love and use the product or service?
If you are excited about a product or service from your own experiences, that energy is infectious to other people. You will be able to tell others how it helped you and how it could benefit them too. If your offer fits what they are looking for, they will follow you. If, on the other hand, you have no interest in the product, such as someone who doesn't wear makeup becoming an Avon distributor, why would anyone else?
Are you becoming a representative to build a part-time or full-time business with this particular company?
Manage your expectations of money earned and time spent. Network marketing is a people empowerment business at its best. Track your results ongoingly to see how you are doing on your written goals. Be aware nothing happens in a minute except failing. EVERYTHING has a learning curve and, probably, some discomfort to get past what you already know. Start climbing and give yourself a time frame when you will reassess your progress.
Are you becoming a representative to get discounts and to refer friends to the product or service?
Do not expect to make a lot of money if your purpose is primarily to get products or services you love more economically. Remember your own intentions. As a representative, you can choose to apply the effort to build a business as well later, if you like.
COMPENSATION PLAN
How much do you want to make with your business?
Set your financial goals at the beginning and make periodic assessments of your actions taken and results. If you don't define where you are going, you will have a hard time getting there.
What is the compensation plan and does its structure align with your goals?
Understand the compensation plan. There are lots and lots of possibilities (binary, matrix, straight line, profit-sharing, etc.). How do you make money on the front-end and on the back-end? Do you need to make money immediately, later or both? What do you need to do to be paid? Be sure you understand what results you need to accomplish to get to the money. Have someone in your upline explain the pay plan for the opportunity clearly.
PRICE
Is the price right for the value of the offer?
Value is inherently very subjective. To enroll a greater number of people, often the price is lower but the level of engagement in working the business may be less serious. At a higher price, perceived value also goes up. It also varies according to where you are (country, city, suburbs, economic background, neighborhood, ethnic diversity). The only important question is, "Will you pay that price?"
TIMING
Is the timing for the offer NOW?
Look around curiously. What do you observe happening in your town, city, state, country or world? If unemployment is high, income generation opportunities (good, bad & indifferent) will thrive. What problems does the network marketing company that you are evaluating address? For example, a number of network marketing companies have vitamins and supplements intended to address the diminishing nutritional value of the food we grow. What trends do you see in action and what trends can you speculate are coming? Getting ahead of the curve very slightly but not so far ahead that nobody else can see what you do is how to make a LOT of money.
EVALUATE your opportunity and TAKE ACTION - in or out!
Will this network marketing opportunity be your part-time or your full-time business?
How much time and money are you willing to spend building your business and for how long?
What return on your investment (amount of money you expect to make) do you need for it to be worthwhile starting?
COMPANY
Does the company have a track record or is it a new launch?
If the company is an established company, it will have more credibility and provide a higher comfort level for your downline but, unless the company changes the comp plan or adds a new line of products to create new excitement about participating, growth will be much slower if you join later. Historically, early movers make the most. However, if a stable company innovates, its progress can be unstoppable because all the systems are already in place and functioning well and credibility is unquestionable.
If the company is a launch, its success and longevity is untested. It may or may not be around in a year, depending on whether the timing is right for the product or service, whether the idea and comp plan are sexy enough to excite interest, whether the company has enough capital to survive growing pains, and whether big network marketing players choose to jump in. That said, EVERY company begins with an idea and being positioned at the top in a successful launch company can be worth millions.
TEAM
Are your upline sponsor and team exceptional leaders?
Your odds of building a successful team of your own improve if they are. In addition to company marketing support (replicated Web site, teleconference calls, Webinars), a great upline can add supplemental calls, Webinars and local meetings). Network marketing stars can also identify the great opportunities more easily than the average person because of their previous experiences. Follow their lead.
Do you like and trust them as your partners in your business?
Determine what values and qualities you need in your partnership for it to work. Code of honor, trust, integrity, teamwork are a good start.
Have they made significant money in network marketing in the past?
If you want to make an extra $1,000, $5,000 or $10,000 a month extra in your business, you need to hang out with upline leaders who have done over $10,000 a month already in a previous network marketing business and can show you how. If you want to make millions, learn from millionaires and do what they do.
PRODUCT
Do you love and use the product or service?
If you are excited about a product or service from your own experiences, that energy is infectious to other people. You will be able to tell others how it helped you and how it could benefit them too. If your offer fits what they are looking for, they will follow you. If, on the other hand, you have no interest in the product, such as someone who doesn't wear makeup becoming an Avon distributor, why would anyone else?
Are you becoming a representative to build a part-time or full-time business with this particular company?
Manage your expectations of money earned and time spent. Network marketing is a people empowerment business at its best. Track your results ongoingly to see how you are doing on your written goals. Be aware nothing happens in a minute except failing. EVERYTHING has a learning curve and, probably, some discomfort to get past what you already know. Start climbing and give yourself a time frame when you will reassess your progress.
Are you becoming a representative to get discounts and to refer friends to the product or service?
Do not expect to make a lot of money if your purpose is primarily to get products or services you love more economically. Remember your own intentions. As a representative, you can choose to apply the effort to build a business as well later, if you like.
COMPENSATION PLAN
How much do you want to make with your business?
Set your financial goals at the beginning and make periodic assessments of your actions taken and results. If you don't define where you are going, you will have a hard time getting there.
What is the compensation plan and does its structure align with your goals?
Understand the compensation plan. There are lots and lots of possibilities (binary, matrix, straight line, profit-sharing, etc.). How do you make money on the front-end and on the back-end? Do you need to make money immediately, later or both? What do you need to do to be paid? Be sure you understand what results you need to accomplish to get to the money. Have someone in your upline explain the pay plan for the opportunity clearly.
PRICE
Is the price right for the value of the offer?
Value is inherently very subjective. To enroll a greater number of people, often the price is lower but the level of engagement in working the business may be less serious. At a higher price, perceived value also goes up. It also varies according to where you are (country, city, suburbs, economic background, neighborhood, ethnic diversity). The only important question is, "Will you pay that price?"
TIMING
Is the timing for the offer NOW?
Look around curiously. What do you observe happening in your town, city, state, country or world? If unemployment is high, income generation opportunities (good, bad & indifferent) will thrive. What problems does the network marketing company that you are evaluating address? For example, a number of network marketing companies have vitamins and supplements intended to address the diminishing nutritional value of the food we grow. What trends do you see in action and what trends can you speculate are coming? Getting ahead of the curve very slightly but not so far ahead that nobody else can see what you do is how to make a LOT of money.
EVALUATE your opportunity and TAKE ACTION - in or out!
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