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Category Archives: Direct Sales/MLM

Most Important “Job” In Your Home Business

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If I were to ask you what was the most important “job” in running your business, what would your answer be? For most solo-entrepreneurs the answer I get is that creating the product or delivering the service is the most important job. A Realtor tells me helping clients buy or sell homes is the most important job. A direct sales rep tells me selling her products is the most important job. A freelance writer tells me writing is the most important. And so on. But they are all wrong.

Any any business, the most important job is marketing. And I’m convinced that most small and solo-person businesses that struggle, do so because they fail to see that job number one is getting the word out. That doesn’t mean that the product or service isn’t important. Obviously it is. But without clients or customers, there is no one to provide products and services to, and therefore no business.

Once you grasp the idea that marketing is crucial, you can redesign your business efforts so that it becomes part of your daily tasks. In fact, not a day should go by in which you don’t do at least one thing that lets the world know about your business whether its running an ad, calling people on the phone, writing an article or press release, etc. Marketing is not something you do once in awhile when you need clients. Its also not something you do once and sit back and wait for results. Marketing is pro-active and needs to be done every day to build and maintain a steady stream of clients and income.

If you’re not sure what to do, talk with experts in your field or get a good marketing book and create a marketing plan. Then add marketing tactics to your daily to-do list so that it becomes habit.
Below are some of my favorite marketing books for small and solo-person businesses:

Buying a Business Checklist – What you need to know before you buy!

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Did you know that you can start a business today…right now? While building a business from scratch has its own advantages, buying a business is one of the fastest ways to start working from home. There are many advantages to buying a business including brand recognition, working systems, existing customers, available inventory, and support and training. Nevertheless, buying a business also comes with potential problems and issues such as costs, risks, and sometimes limited control such as when buying a franchise.

There are four different ways to buy a business:

1) Buy an existing business that was started from scratch by someone else.

2) Buy a franchise.

3) Buy business opportunity

4) Buy into a direct sales company

All offer a host of advantages and disadvantages, so before signing a contract and paying your money, do your research and get answers to the following questions.

Buying a Business Checklist

Below are a set of questions you should answer before buying a business whether its an existing business, franchise, biz op or direct sales. This is a generic checklist. You can get business type specific check lists such as Franchise Buying Checklist in The Work-At-Home Success Bible.

  1. Who is the seller/company? Did he/she start the business and if not, who did?
  2. How long has the business been in existence? How long has the seller owned it?
  3. Why is it for sale?
  4. What is the price? How was the price determined?
  5. What does the price include?
  6. Is there inventory? What is its value?
  7. Are there any equipment or materials included in the sale?
  8. Does the purchase include ownership or use of logos and the brand?
  9. Is a customer database included? What is the size and purchase history?
  10. Does intellectual property rights convey with the sale (trademarkes, patents, copyrights)?
  11. Will the seller provide training and support?
  12. What is the current financial state of the business? Debs? Assets? Accounts receivable?
  13. Does the business/seller have contracts with specific ventors/contractors and will those relationships transfer to you?
  14. Is the business required to operate under any laws, franchise or license rules, or other agreements?
  15. What is the history and track record? What are the last two years of sales and returns?
  16. What current marketing campaigns are running?
  17. What is the reputation of the business?
  18. What is the quality of customer service?

What is crucial to know is what EXACTLY are you getting for your money. If you buy a business but the sale doesn’t include the brand or customer database, you actually aren’t buying very much. You also want to make sure you’re not buying a business that is on the verge of bankruptcy. Finally you want to know what laws or legal obligations the business is required to work under or uphold.