I hear it all the time, “How can I start an online business with no money?” People everywhere are looking to start an online or home based business yet they want to do it without spending a cent. So, I ask them, “How can a farmer expect to harvest a crop if he doesn’t buy the seed?”
You can talk about starting a business and making all kinds of money all you want, but until you realize that you have to invest in your business, it’s not a business, it’s just a hobby. That does not necessarily mean you have to take out a second loan on your home, but you do have to invest.
Put yourself in the farmer’s boots for a moment. You want to plant a cash crop and you know you can, so how do you go about getting started? First, you decide what crop you will plant. You do your homework to determine which crop will produce you the most return based on all the conditions. Once you make this decision, you have to take the next step. You have to take action.
Before you get the seed, you must till the ground and prepare it for planting. This preparation is critical if you want a successful crop. Once the ground is ready to accept the seed, you go the seed store and “buy” your seed. This is your investment.
So can you just throw the seed on the ground and expect great results? No. You must then cultivate it in order to get the results you expect. You work the soil to keep it loose, you water and fertilize. Then and only then will the seed start growing, until it produces the crop you dreamed it would.
Once your crop matures, you then can harvest its many fruits. You can see the results of your labor and your investment pays off.
Your business, whether online or offline, is much like planting a crop. You decide which business is best for you by reading and studying everything you can on the subject. Once you make that decision, you have to prepare. Get your website ready, everything must be in place. Then you plant or go live with your site. You have to promote and invest your time and money into the business. You keep at it, learning more as you go and one day you walk out to see your crop, and it is time to harvest.
A good place to start is Magnetic Sponsoring
Presented By Larry Guzda
This article may be copied,but NOT changed in any way
Wednesday, July 30, 2008
Sunday, July 20, 2008
How Long Before I See The Cash
Hey, Larry Guzda with another exciting post about
With the exception of some not for profit organizations most people go into business in order to produce revenue (income) and profit. Unfortunately, when it comes to a home business, and especially network marketing, many people forget this important point.
In a traditional business, whether a Ma and Pa shop, or a large franchise store like McDonald’s, business owners know to watch their numbers. A business must make a profit in order to survive and, if it doesn’t, adjustments must be made accordingly.
One of the reasons for the high failure rate in small businesses, home businesses, and MLM (network marketing), is because due to the low entry costs and requirements people often don’t treat them like, “real businesses.”
Two things commonly happen:
1) Many people have the attitude that since they didn’t have to invest much to begin with they really don’t have to be too concerned about whether they make money or not, or how soon. Of course, that often ends up being a self-fulfilling prophecy. It’s not just that way with a business, but with many things in life. If you come to own something that cost a great deal or required a lot of effort to acquire you tend to appreciate it more than something of lesser perceived value.
When you consider that network marketing has made some people just as much if not more money than many other traditional kinds of businesses, with incomes of as much as $1 million a month or more being achieved, treating a MLM as if it isn’t a serious or real business is a huge mistake!
2) Because the entry cost can be so low people overlook the cost of not making money, and also have a tendency not to pay attention to how much their other expenses associated with their business (such as trips, conventions, and/or buying extra products or services over and above what you really need) add up over time.
For example, let’s say that you spend $500 to sign up for a new business. Not a lot of money at all, maybe the price of a cup of coffee a day and some change.
Weeks go by, and then months, maybe even years, and you still aren’t making any money. Perhaps you don’t think much of it because, you think to yourself, “I only spent $500 to get started in this business anyway.”
But what are the true cost? Let’s say that in addition to your startup cost you have also been spending $150 each and every month on buying your company’s products and services. (Perfectly ok if you enjoy and use all of the products you buy; not ok if you are buying more than you need simply to qualify for a certain level with your company!) And let’s also assume that you are spending $50 a month on meetings, conventions, or seminars (many people spend much more).
So, even though you really haven’t paid much attention because you only invested $500 to begin with, if your business hasn’t yet started making you money then you are really spending AND LOSING $2,400 a year, in this hypothetical example. And, here again, in reality many people often end up spending much, much more.
Going back to the example at the beginning of this article about a traditional business, like a McDonald’s. Those kinds of businesses often have much higher costs associated with them, such as a store lease or mortgage, equipment leases, payroll, etc. It isn’t uncommon for a traditional business to have to operate for months or years before making a profit.
In contrast -- though networking marketing is NOT designed necessarily to make you a very large amount of money overnight -- you can and should be able to generate an ever increasing residual income for yourself over time, and starting in relatively short order.
Everyone approaches a new home business differently. Some people prefer to roll their sleeves up and dig right in, expecting to start making money almost immediately. While others prefer to first spend time learning more about their new business, and/or obtaining any available training. So it’s acceptable, if you choose, to take a few weeks or even a month to “prepare” for your new business. However, especially if it is your goal to start making money right away, it is entirely realistic with most networking businesses to start earning viable amounts of money within as little as 30 days.
Certainly within 90 days you will want to start seeing some kind of payoff in return for your efforts. And no more than 6 months should go by without positively starting to see income coming in. In fact, ideally, you should try whenever possible to not only earn enough money to cover your original startup costs, but you absolutely should be making a profit (in other words, extra money) within this time.
If after 30 to 90 days, 6 months maximum, you are not making a profit, you should seriously reevaluate!
To summarize:
1) Always remember to track ALL of your directly related business expenses, including how much you spend on leads, products and services, meetings, trips and conventions, training, etc. You must add these expenses to your original startup costs.
2) Subtract how much money you’ve earned from the number above (your total expenses) and this will tell you how much money you’ve made (profit), or how much money you’ve lost and/or are losing.
3) To repeat: If after 30 to 90 days, 6 months maximum, you are not making a profit, you should seriously reevaluate!
Don’t continue down the same path if you are only spending more money than you are making, and not making any profit in return.
Remember, except for a not for profit endeavor, the purpose of being in business is to make money. And in order to make money you have to actually make more money than you spend.
A good starting place is Magnetic Sponsoring
Presented By Larry Guzda
This article may be copied but Not Changed in any way
With the exception of some not for profit organizations most people go into business in order to produce revenue (income) and profit. Unfortunately, when it comes to a home business, and especially network marketing, many people forget this important point.
In a traditional business, whether a Ma and Pa shop, or a large franchise store like McDonald’s, business owners know to watch their numbers. A business must make a profit in order to survive and, if it doesn’t, adjustments must be made accordingly.
One of the reasons for the high failure rate in small businesses, home businesses, and MLM (network marketing), is because due to the low entry costs and requirements people often don’t treat them like, “real businesses.”
Two things commonly happen:
1) Many people have the attitude that since they didn’t have to invest much to begin with they really don’t have to be too concerned about whether they make money or not, or how soon. Of course, that often ends up being a self-fulfilling prophecy. It’s not just that way with a business, but with many things in life. If you come to own something that cost a great deal or required a lot of effort to acquire you tend to appreciate it more than something of lesser perceived value.
When you consider that network marketing has made some people just as much if not more money than many other traditional kinds of businesses, with incomes of as much as $1 million a month or more being achieved, treating a MLM as if it isn’t a serious or real business is a huge mistake!
2) Because the entry cost can be so low people overlook the cost of not making money, and also have a tendency not to pay attention to how much their other expenses associated with their business (such as trips, conventions, and/or buying extra products or services over and above what you really need) add up over time.
For example, let’s say that you spend $500 to sign up for a new business. Not a lot of money at all, maybe the price of a cup of coffee a day and some change.
Weeks go by, and then months, maybe even years, and you still aren’t making any money. Perhaps you don’t think much of it because, you think to yourself, “I only spent $500 to get started in this business anyway.”
But what are the true cost? Let’s say that in addition to your startup cost you have also been spending $150 each and every month on buying your company’s products and services. (Perfectly ok if you enjoy and use all of the products you buy; not ok if you are buying more than you need simply to qualify for a certain level with your company!) And let’s also assume that you are spending $50 a month on meetings, conventions, or seminars (many people spend much more).
So, even though you really haven’t paid much attention because you only invested $500 to begin with, if your business hasn’t yet started making you money then you are really spending AND LOSING $2,400 a year, in this hypothetical example. And, here again, in reality many people often end up spending much, much more.
Going back to the example at the beginning of this article about a traditional business, like a McDonald’s. Those kinds of businesses often have much higher costs associated with them, such as a store lease or mortgage, equipment leases, payroll, etc. It isn’t uncommon for a traditional business to have to operate for months or years before making a profit.
In contrast -- though networking marketing is NOT designed necessarily to make you a very large amount of money overnight -- you can and should be able to generate an ever increasing residual income for yourself over time, and starting in relatively short order.
Everyone approaches a new home business differently. Some people prefer to roll their sleeves up and dig right in, expecting to start making money almost immediately. While others prefer to first spend time learning more about their new business, and/or obtaining any available training. So it’s acceptable, if you choose, to take a few weeks or even a month to “prepare” for your new business. However, especially if it is your goal to start making money right away, it is entirely realistic with most networking businesses to start earning viable amounts of money within as little as 30 days.
Certainly within 90 days you will want to start seeing some kind of payoff in return for your efforts. And no more than 6 months should go by without positively starting to see income coming in. In fact, ideally, you should try whenever possible to not only earn enough money to cover your original startup costs, but you absolutely should be making a profit (in other words, extra money) within this time.
If after 30 to 90 days, 6 months maximum, you are not making a profit, you should seriously reevaluate!
To summarize:
1) Always remember to track ALL of your directly related business expenses, including how much you spend on leads, products and services, meetings, trips and conventions, training, etc. You must add these expenses to your original startup costs.
2) Subtract how much money you’ve earned from the number above (your total expenses) and this will tell you how much money you’ve made (profit), or how much money you’ve lost and/or are losing.
3) To repeat: If after 30 to 90 days, 6 months maximum, you are not making a profit, you should seriously reevaluate!
Don’t continue down the same path if you are only spending more money than you are making, and not making any profit in return.
Remember, except for a not for profit endeavor, the purpose of being in business is to make money. And in order to make money you have to actually make more money than you spend.
A good starting place is Magnetic Sponsoring
Presented By Larry Guzda
This article may be copied but Not Changed in any way
Monday, July 14, 2008
Check Out Web 2.0
Hi,
Larry Guzda here... You have got to see this - WOW!
I found this new FULL INTERNET UPGRADE technology that is about to upgrade THE ENTIRE INTERNET to Web 2.0 standards and IT'S FREE! FULL Social Networking functionality on EVERY WEBSITE on the internet with a click of a button.
This is going to change the entire Internet OVERNIGHT.
Plus, they are giving away ONE MILLION DOLLARS to spread the word about it - and you can get a share for helping - NO COST!
Check it out at:
http://www.www2upgrade.com/lguzrecommends
Let me know what you think or if you have any questions.
Thanks,
Larry Guzda
This article may be copied,but NOT changed in any way
Larry Guzda here... You have got to see this - WOW!
I found this new FULL INTERNET UPGRADE technology that is about to upgrade THE ENTIRE INTERNET to Web 2.0 standards and IT'S FREE! FULL Social Networking functionality on EVERY WEBSITE on the internet with a click of a button.
This is going to change the entire Internet OVERNIGHT.
Plus, they are giving away ONE MILLION DOLLARS to spread the word about it - and you can get a share for helping - NO COST!
Check it out at:
http://www.www2upgrade.com/lguzrecommends
Let me know what you think or if you have any questions.
Thanks,
Larry Guzda
This article may be copied,but NOT changed in any way
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