I am often asked, "What can I do to make a solid income working from my home?". I quickly tick off a time tested list of strategies that will really ensure success. Today I will shift gears and touch on seven things that will absolutely destroy your cash flow.
1. Program Jumping-- If you like to join a lot of programs, and always seem to be chasing a "better deal", this will kill you. You will be constantly starting over, and relearning product line, pay plans and different advertising systems. You will always be in learning mode, and you will never be in earning mode.
2. No DMO-- If you do not have a "Daily Method of Operation", you are probably waking up and just doing tasks for the sake of being busy. If you must work your business part time, you will always be challenged for time. If you are working your business full time, you will probably be doing a lot of thing that are not "Income Producing Activities". You need to set up a daily plan of action, and stick with it for 90 to 180 days.
3. No Real Sponsor-- If you do not have a sponsor that you are in contact at least weekly, you are in big trouble. If you are doing everything all by yourself you will be making some big mistakes. You need an active sponsor. If you do not have one, you need to get one. This is a critical point to your success.
4. Trying To Master Too Much At The Same Time--If you feel like you are spread thin and are not getting anything completed in your business, you are trying to master too many things at once. Go back to your sponsor and figure out the one or two things you need to master right away. Do these tasks first, and if you have extra time you can work on the third one on the list.
5. Mastering Incorrect Things-- You need to be very aware of what the key Income Producing Activities are for your business. If you are mastering things that do not help your bottom line, you are almost certainly working on the wrong things.
6. Short Term Thinking-- If you are worried about making money this week or next week, your time horizon is too tight. You must take a long term approach to your business, even if your needs are immediate. You must give your home based business time to take root and mature. This item kills a lot of businesses before they have a change to actually succeed.
7. No Residual Component To Income-- You need to make long term (residual) income from some part of your business. If you have no residual income coming in, you wake up each and every day looking for your first sale and first money of the day. When you have customers buying from over and over, you have the ability to enjoy the "life time value of the customers" versus one time sales. This strategy will quickly expand your business and will give you some predictability in your income.
As you can see, there are key things to avoid in growing your business. Some items are easy to implement, and others are quite a bit harder to do. Take this advice to heart, and you will see an improvement in your bottom line relatively quickly.
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Patrick McTigue works from home full time and enjoys helping people meet their success
and income goals. Can you afford to struggle for 18 months to get your MLM business in profit? You don't have to. Our team will show you how to maximize your success in as little as 5 short months. You can find out more information on how to make this happen at our
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Occupation: Network Marketer, Webmaster
Patrick McTigue is a full time network marketer and webmaster. Pat focuses on coaching and team building in his natural nutritional network marketing company. Pat has six years of experience in internet and network marketing and is currently focusing on attraction marketing and helping people get their personal blogs started.
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