It can be awesome for you if you’ve just got started in an MLM opportunity, however now you’re faced with numerous expenses in your business from the start outside of what you may spend in your MLM company on autoship.
Due to all of these required expenses (including marketing, outsourcing etc.) it is very easy to spend yourself broke in your MLM business. We are also pressure by a lot of so called ‘gurus’ to purchase their new products or services, and a lot of these are actually worth the money you pay for them.
You’re most likely here to discover the easiest way to avoid running a non-profit organisation from the discomfort of your home. The easiest way to do this (as simple as it sounds) is to keep constant records of your income and expenditure in your business…
…and at the end of the month you can clearly see your net profit (the amount you take home in profit). Only then can you accurately create marketing budgets etc. as well as spending the cash you have left effectively, I would recommend investing into your marketing or education as an entrepreneur.
There it is guys and girls, transparency in your enterprise is the structured foundations to creating profit and KEEPING it that way. Network Marketing is the same as any other business and I hope that this information will prevent you spending yourself broke (and who wants THAT?!?)
-Seb Brantigan
Good point Seb,
Just because this is a home business, it shouldn’t be forgotten it is still a business, and effective business needs an accounting system.
And I totally agree – investing in educating yourself through personal development and relevant fields to your industry is essential for success.
Jym
Great Post Seb, you have alot of valuable information here on your site…