Monday, January 3, 2011

How to Start a Home Based Business in Direct Sales

The new year is a great time to start a business. With cheap technology it's easier than ever to start a business online if you have a computer and internet connection.

Personally, starting a home based business in direct sales is a great option. Because it's affordable and flexible to suit your lifestyle.

However, with so many opportunities you will need to do a careful research before you start one. Especially an opportunity that requires that you spend hundreds of dollars on stocking products or to get a "head start".

You should only invest in the start up fee which for most direct sales and network marketing companies is typically no more than $100. There are always options to buy additional products when you first join.

But ONLY buy if you plan on re-selling the products either through home parties or different avenues.

Never BUY additional products to achieve monthly minimums or to buy yourself a higher rank on the compensation structure. That should be a red flag.

Once you decide what you’re most interested in selling, it’s time to do an assessment of the core principles of business.

It’s not enough to be passionate about the products. Although this is an important factor = you’ll need a business plan that includes how you're going to market and promote your new business.

Products don't sell themselves. And you can't rely on your ffiends and family to build a business alone. Learning how to market your business particularly with online marketing will be one of the best investments in your new business.

Consider Product Needs

*Is there a need for the product you’re selling?
*Is the product something people are already using and familiar with?
*Is the product recurring where you can earn repeat sales? Or will you have to look for new customers because it’s a non-consumable product?
*Will the products withstand tough economic times?

Products that people cut back on are things they can do without. Although I'm a jeans fanatic, I'm more likely to cut back on another pair of jeans, over products that I need to use.

Your Business Skills

Once you’ve identified the business you want to be in, it’s time to do an assessment of your business skills.

What are you good at i.e. marketing, writing, and what sort of educational skills that you already have that you can bring to your new business?

What areas you need to improve on? And are you prepared to learn new skills so you can compete in the marketplace?

Last but not least, are you prepared for the challenges ahead as an entrepreneur? Contrary to what some uplines might tell their new sponsors but direct sales is not always easy.

But it's not complicated either especially if you start your business with the right mind-set and understand that marketing is the lifeblood of your business.

It goes without saying you should love what you’re doing because it’s too hard to find the motivation to keep at it. But you’ll also need to be honest in the business itself and consider product need in the marketplace as well as whether you’re prepared to give your best to building a new business.

**If you don't have a marketing strategy for your business - get my FREE Report and use my 9 powerful tips to grow your business without bugging your friends and family. Enter your email for immediate access.

1 comment:

Boyd J said...

When dealing with direct sales, it pays to maximize the Internet to promote and market your products. Nothing beats free marketing.

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