Are you thinking about quitting your job and going full time inside of your home business?
Before you make that move, check out this post for some valuable tips that will help you know if the time is right for you.
One of the biggest decisions you’ll make in your business is deciding when you should go full time in your mlm business. I did a bit of research and gathered up some tips that I think will help you. Here’s is the best advice I’ve found, don’t even think about going full time until you have at least six months of bills in the bank, and six months of a steady income check from your business. Let’s dive deeper into this topic so you’ll know exactly what to do.
When You Should Go Full-Time
You have to be smart about quitting your job going full-time in network marketing especially if you have a family depending on you to provide for them. When you’re single that pressure is not there. Having at least six months of steady checks and savings built up (more is better) it would give you some cushion if you’re just in that big of a hurry to leave your job.
My best advice is to stay at your job as long as you possibly can more than likely you’ve already been at your job for a few years so it won’t hurt you to stay there a few years more as you build your business. That’s what most people do.
Keep this in mind at the beginning it’s going to be tough as you learn the skills needed to build a business. I’m still learning to this day and I’ve been at it for a few years myself.
It Won’t Happen Over Night
Network marketing is like any other business that you go out there and start. Meaning it’s going to take time for you to start making some money in most cases and it won’t happen overnight. If I can remember correctly it took me a few months to earn my initial investment back but it’s different for everyone. You could join a business on a Monday and have earned your money back on Tuesday but that is usually not the case.
If anyone tries to tell you building a Network Marketing company is easy, don’t believe them because it isn’t. It’s going to take you learning some skills and a lot of work but the rewards are so worth it. You virtually have the lowest risk highest reward with network marketing. It usually only costs a few hundred bucks to get started and you’re in business. The low cost to get started can sometimes be bad too, people a lot of times don’t take their business seriously because it’s “only” a few hundred bucks.
Don’t Quit Your Job Too Soon
What you don’t want to do is quit your job too soon. In fact, you should stay there as long as you possibly can, let me explain. For starters, let’s say you’re making $3k per month at your current job. You start making $3k per month part-time in your network marketing business. So you’ve replaced your income. But look at it like this, your job plus your income from your network marketing business is $6k per month. If you were to quit your job you’d be back to just making $3k per month.
You also need to be aware that your monthly or weekly check-in network marketing, especially in the beginning might be all over the place as you’re learning the business and developing your skills. That’s why I can’t stress enough to have at least six months of your bills saved up and honestly the more the better.
Make Sure You Diversify Your Income
As an entrepreneur, you should have multiple streams of income. But here’s what happens a lot of the times. People join an mlm business and they think that’s the end all be all. That’s the wrong way to think and here’s why. What if your company gets shut down, what if your company changes the compensation plan and now you’re check gets cut in half? I’m not saying any of this will ever happen to you but what if it does?
That’s why I’m a big fan of diversifying my income. Not only am I building a network marketing team but I promote affiliate products and I’m working on creating my own products as well. I highly suggest you do the same. The most important thing to remember is only you are responsible for making sure you take care of yourself financially and while network marketing is a great profession to be in you still should have multiple streams of income.
Here are three of my favorite ways to earn money online outside of network marketing.
- Promoting affiliate products (Make sure they are congruent)
- Selling coaching services.
- Creating my own products.
I put together a resource that will show you how you can build your network marketing business online and promote affiliate products too. Keep in mind these things sometimes take time to implement, for example creating your own product won’t happen until you get some experience under your belt. The same goes for coaching. Affiliate marketing is a bit different. You can literally purchase a product or service, use and turn around and review it to start earning money.
I also think you should learn how to market the right way online and on social media. Posting things like “join my team”, and “buy my product” is not very effective. In fact, you’ll end up turning off way more people. Instead, learn to put out content that educates your target audience. Put out content that solves a problem or answers a question. When you market the right way, you’ll start to attract people to you.
The key is knowing who your target audience is going to be. Take me for example, my target audience is people in or looking to do network marketing. It could be a host of other things. The main thing you need to understand is that you want to become the goto person in whatever niche you decide and answer questions and solve problems.
If you need leads fast I would suggest having more conversations on social media, I didn’t say pitch the people but have conversations. That’s a quick way. The slow and steady way that’s better long-term is through blogging.
[Video] Going Full-Time In Network Marketing
Don’t make the mistake and quit your job too early and not have the things I’ve outlined in this post in place. You want 6 months of your bill money and at least 6 months of steady income from your network marketing business coming in before you even think about going full-time.
Going full-time in your network marketing business is a big deal. Hopefully, I gave you some tips in this blog post to help you know if the timing is right for you or not.
To Your Massive Success
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