Friday, December 01, 2006

How to Build A Good Foundation For Your Online Home Business

How to Build A Good Foundation For Your Online Home Business
Copyright © Monique Hawkins

http://moniquerh.3stepsecret.com


An online home-based business opportunity is a good way to earn a residual income. Not all online home businesses succeed at creating a residual income, though. In fact, many online businesses fail, but this does not have to be the case. It is possible to build a good business and residual income. How? One has build a good foundation for their business.

The way to set up a good foundation for a residual income business is to understand the basic way it works. A residual income business has to be set up so that one sale keeps earning a person money over and over. In fact, the business should be able to run on its own even if the owner is not present. If the business is not set up to do that then it will not create a residual income. A really good example is an affiliate program. An affiliate program is created by giving each affiliate a website encoded with their affiliate ID. Every sale made off of their website is credited to their ID. Their ID is also linked to the ID’s of the affiliates they have signed up. Every sale their affiliates make is also credited to them. This allows the person to
earn income on every sale associated with the work they have done. Affiliate programs are not the only type of residual income opportunity, but they are the most popular. Mainly this is because they are easy to get started with and easy to maintain.

In addition to understanding what truly is residual income, a person must not expect to get rich quick. It takes work to build a home-based business that produces residual income. One of the biggest problems people encounter is the fact that they think residual income means they do not have to work at all. That is a huge misconception. Anyone who thinks this is true is destined for failure. It takes work at least initially. Nobody makes money doing nothing. A good residual income is built. It is all about a good start. If a person puts up an initial investment of time and work then they are building a good foundation for their business. They should have all of their marketing in place. They should have a good training program for new team members in place. They need to have all their bases covered and know how they will handle everything. It is about having a good plan and that takes works.


Everything starts with a good foundation. A foundation offers a stable platform for the business to stand upon. It provides the necessary basis for success. The foundation of a business needs to be built. It has to be strong and it requires work. In order to build a good foundation a person
must understand the basis of residual income and understand that it takes work to get started.

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Thursday, November 30, 2006

How to Have Success with a MLM Home-Based Business

MLM Success - How Many Network Marketers Does It Take To Screw In a Light Bulb?
By Terry Montague

Assuming that you are in this industry in order to secure your financial future, then before choosing a Network Marketing business opportunity you should look closely at their Compensation Plan. This is, of course, what will ultimately determine how much your paycheck will be. Considering the amount of time and effort you put into building your organization, why not make sure that each addition to your downline constitutes a significant raise for you?

Are you looking at your Compensation Plan through rose-colored glasses?

Caution needs to be taken when trying to evaluate a Compensation Plan merely by looking at the way it is presented to potential distributors. Often a company may explain it in their literature and on their website in a way that is simply trying to paint a pretty picture for your financial success.

For instance, some companies would have you assume that everyone in your organization will be ordering their required auto ship and, in the case of the binary plan, that both legs are equally balanced. Yeah, right…in a perfect world! They don't illustrate the reality and consequences of breakage and spillover. These are funds that are retained by the company and never make their way into the pockets of the distributors who put their blood, sweat and tears into generating them.

As a result, the majority of Network Marketers do not understand the dynamics of compensation plans. This is primarily due to the lack of statistical information available in the MLM industry.

Compensation Plan Basics

The first step is to understand what type of Compensation Plan a company offers. Assuming you have a basic knowledge of MLM, here is a very brief overview of the five most common plans and how they work:

* Matrix: A fixed number of people in width and depth paying a percentage based on each spot.
* Unilevel: Unlimited width with a fixed number of levels that pays out a certain percentage for each level.
* Binary: Two people in width and unlimited depth. Pays on volume cycles when a fixed amount of volume moves through each of the sides.
* Stairstep Breakaway: Unlimited width with a volume based percentage payout that breaks away once someone in your downline hits a particular level of sales.
* Aussie 2-Up: The commission on the first two people you sponsor goes to someone up-line from you.

Often these are designed to work in combination with each other, so it is important that you analyze your individual plan thoroughly. Ultimately, however, the goal should be to find a plan that provides the most income with the least amount of people.

Do the math

Look at your Compensation Plan and ask yourself the following question:

* How many people will it take in your organization to make $10,000 a month?

I'm talking about passive, recurring, residual income on the backside, not including bonuses, one time commissions and any additional perks. This $10,000 figure can be replaced with whatever dollar amount you choose in order to reach your personal goal for financial success, but we'll use $10,000 for the purpose of our example.

While the simplest method for determining this figure would be to ask someone in your upline how many people they have and how much money they are making, they may not be exactly forthcoming in their response. So the best solution is to figure it out for yourself.

Crunch the numbers

Although the formula for this equation is relatively simple, depending on what type of Compensation Plan you have it will probably require the use of a calculator. But the time expended on this short remedial math exercise will prove to be well worth the effort and will give you a clear idea of exactly what level of success you can expect from your efforts. It will save you a lot of frustration and feelings of failure later on when you realize your paychecks aren't quite what you were expecting.

Formula for Success

For a matrix or unilevel plan the equation is pretty straightforward. Figure out the average percentage of commission you are making on each level (usually there is a different percentage for each). Then determine the average monthly dollar amount (BV, PV or CV) spent by each member of your organization. Divide that by the average percentage, leaving you with the dollar amount generated by each member of your downline. Divide $10,000 by this average amount and you have the number of people you will need.

Example: Say you have a 5 X 7 matrix that pays an average of 7%, seven levels deep. If the average monthly purchase for each member is $50, then 7% of $50 is $3.50 per person. $10,000 divided by $3.50 equals 2,857 people.

Wow! They didn't explain that in the literature, did they?

Just for reference, for a monthly income of $10,000 a stairstep breakaway plan typically requires anywhere from 1600 to 1800 people (if you can keep them from breaking away), a binary somewhere in a range of 3000 to 5000 (taking into consideration the balancing act you'll need to perform), and a matrix about 2200 to 3200. However, I recently crunched the numbers for one unilevel plan that required almost 14,000 people!

Do your math homework

If you do a bit of investigating, you will find that there are some great Network Marketing companies with beneficial compensation plans requiring less than 500 people in your organization to make $10,000 a month. But don't just take the company's word for it. Do the math! Just because you happen to be mathematically challenged, don't let this deter you from figuring out how much your paycheck will be. Even if math just isn't your thing, it really shouldn't take a rocket scientist to figure this out. But if you have difficulty it's worth eliciting the help of one if needed. And if you can't find one on a nearby street corner, I'm sure you can find someone who is more left-brained than you are that will be willing to help.

Don't rely on recruiting alone

One final tip: Make sure that your company offers a product or service that has a legitimate need in the marketplace and that it is priced competitively. The company must emphasize getting products or services into the hands of consumers, not just on finding new recruits. If the company is not centered around the movement of a product or service, your success, if any, will be limited.

Terry Montague is a successful network marketer and MLM Mentor. Her objective is to provide as many people as possible with valuable information and equip them with skills for success in order for their dreams to become their reality. Download her Free eBook to learn more about analyzing your Compensation Plan, or visit "MLM Success Training-The Full Monte" for more tips and resources.

I hope you find this article helpful.
Monique

To find the best home based business ideas and
opportunities so you can work at home visit:

http://moniquerh.3stepsecret.com

Wednesday, November 29, 2006

The Best Way To Choose A Residual Income Home-Based Business

Residual income programs are built on people recruiting people. One person
sells their business idea to another who joins and becomes the down line to
help earn that person money. Selling is all about appealing to a person’s
emotions. They try to get a person to feel passionate about what they do,
so they will buy into it. That is why many people choose a residual income
program that is not for them. They were sold based upon their emotions, not
rational thinking, which is the best way to choose a residual income
program.

The process of selling is showing passion and getting other to feel that
passion about what is being sold. One of the goals in a residual income
program is to get others to sign up and become part of the team. As more
people sign up the people who signed them up make more money. It is easy to
see why people use aggressive tactics to sell the residual income program to
others. It is also easy to see why many people end up choosing the program
that is not the best for them.

Overcoming the emotions and being able to choose based upon well thought out
reason is the way to choose the best residual income program. So, how can a
person do that? They need to learn the top things to look for in a good
program. The program needs to have an appealing product. It needs to be
something that is interesting and something that people will buy. They
should also be unique and something people cannot buy anywhere else. The
company should have a stable history. It should have good growth potential
and not have any problems financially or structurally. It should have a
good marketing system that is taught to every new person. It should be easy
to use and something that is easy to learn. The payment plan should be easy
to understand and make sense. It should be easy for a person to see how
they can make a long term profit. Lastly, the company needs to show
teamwork is built into it. Teamwork should be a main part of the company
and should be easy for a person to see when they start to learn about the
company.

The best residual income program is defined by each person. It is perhaps
easier to define the worst program. The guidelines above, though, should
explain how to weed out the bad ones and settle in on the ones that have the
possibility to be the best. By reading through them and getting to
understand them a person should have a good understanding what makes for a
good company where they can earn a good income.

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To find the best home based business ideas and
opportunities so you can work at home visit:

http://moniquerh.3stepsecret.com

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Tuesday, November 28, 2006

The Secret to A Residual Income Through Marketing A Home-Based Affiliate Program


Copyright © Monique Hawkins

http://moniquerh.3stepsecret.com


Everyone wants to earn a residual income with their home-based business. What is a residual income? In a nutshell, it is being paid many times over for something that is done right one time. It is being able to let a business run on auto-pilot and still receive income without you having to be present.This income is possible through affiliate programs, but the key is understanding how to market them effectively. Anyone can learn the secret to a residual income through marketing an affiliate home-based business program.

Marketing is getting an idea out to others, getting them interested in itand selling it to them. It is being able to have your business stand out from the crown.Marketing is the foundation for any good business. It is more than placing ads or pitching ideas. Good marketing is provoking. It catches the eye and makes a person want to know more. It makes them interested so they seek out information and are willing to look for it.

Affiliate programs usually are centered around a website. The idea is that
the website serves as the information base for the program. People come to
the website and learn about the products and program. If they are
interested they buy or sign up. That is what is so hard. Most of the time
people will scan an ad and see a hundred others just like it, so they ignore
it and move on. They need something to catch their eye. They want it to be
different. Once they get to the website the information better be clear and
explain it all or else they will simply walk away. Good marketing will not
only lead them to the website, but peak their interest enough that they
willingly read through the website and learn more on their own. This is
what residual income is all about.

A good marketing campaign starts with well written ads. The ads should make
a erson want more information. They should compel a person to spend time
learning about the program or products. A good ad will not explain, but
leave things open-ended. It should give enough information to make a person
curious, but still make them have to visit the website to learn more. Once
they get to the website it should have everything there they need to know.
It should also make them want either to sign up as an affiliate or to buy
the products. Their next step should be to buy or sign up. That leaves
very little left to do and makes it the ultimate residual income
opportunity.

A person who can market successfully will only have to place ads. Then the
rest is handled by their website. If they can make people want to learn
more then their job is done. It really can be that simple. That is the
ultimate in residual income. A little work developing advertising and then
ongoing income. If marketed successfully an affiliate program can help a
person build a stable and solid residual income.

About the Author:
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To find the best home based business ideas and
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Monday, November 27, 2006

How to Use Affiliate Programs And Smart Marketing To Make A Residual Income with Your Home-Based Business

How to Use Affiliate Programs And Smart Marketing To Make A Residual Income with Your Home-Based Business
Copyright © Monique Hawkins

http://moniquerh.3stepsecret.com


If you are looking to begin a home-based business, affiliate programs are a great way to make a residual income. They allow
you to take part in an established system that has already been tested and
built up. All that is left to do is take control and build a down line.
Combine an affiliate program with smart marketing and it equals a great way
to make residual income. Let's discover a little more how this works.

Affiliate programs are often misunderstood. Originally the idea of building
a down line and making a residual income off recruiting people was called a
pyramid scheme. These pyramid schemes didn’t work because they relied
solely on recruiting and not at all on selling. The main idea behind them,
though, was a good one, so the affiliate program was created. An affiliate
program is more than building a down line of people, it also is based on
selling real and useful products. Affiliate programs work because a person
earns money through their down line and through product sales.

Affiliate programs are also very easy to get started in and most are
completely free with no costs to get started. Most programs offer a website
and plenty of help and advice on how to get the business going. A person
gets help from the people in their up line, too. The biggest challenge,
though, is marketing. No matter how much help a person gets, they still
have to master marketing on their own. The problem is that most affiliate programs do not teach good marketing skills. It is important that to consider whether the affiliate program also has a easy and duplicatable marketing system before you join it.

Marketing involves learning how to use the tools provided by the program to
get customers and sign others up for the opportunity. The affiliate program
will provide a person will written ads and their own website, among other
things. The website is the central hub of all the marketing efforts. The
main goal should be to get people to visit the website. Once there they
will be able to buy products and sign up to be an affiliate. The hard part
is not getting people to buy or sign up, but to get them to the website in
the first place.

A person has to take the ads and other marketing tools and place them where
people will see them. One of the biggest marketing platforms are search
engines. Most affiliate websites are a simple website, but with a little
work a person can optimize it to make it rank high on the search engines. A
good way to get started is to add a blog to the website and write entries
everyday. These entries should be keyword rich and informative. Search
engines like articles or blog entries and will assign the site a higher
ranking if they have them. Another way to go is to place links and ads on
other websites. A person should choose websites that compliment the
affiliate program, but that are not in competition with it. By using these
marketing methods a person should be able to get a good start in marketing.

Affiliate programs and good marketing efforts can really help to get a good
start in residual income. Building an affiliate program will take some
time, but they are made to produce a great residual income.
About the Author:
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To find the best home based business ideas and
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Sunday, November 26, 2006

How To Name Your Online Business Right

How To Name Your Online Home-Business Right
Copyright © Monique Hawkins

http://moniquerh.3stepsecret.com



Whether your business is a work at home Internet business or staffs several hundred in a downtown skyscraper you’re going to be online to succeed, and you’re going to have to come up with a good business name and a good domain name. Here are some things to avoid in naming your work at home online business prior to setting up your Internet site.

The first mistake many new work at home online business owners make is to ask for too much input on Internet site and business name, from too many people. They tend to ask family and friends what their new business’ name should be, and what domain name it should have. The problem with this is that not all will really understand the business idea or the jargon involved in that business. The second reason to avoid this consultative process is that you can only choose one name. This means that the more people you ask the more people you are going to disappoint – and perhaps even insult.

It is far better to kick off the online and other aspects of your work at home Internet business by asking the opinion and business help of those few people who have been chosen to have an integral management part of your venture. You might pull these folks together and have a brainstorming session which you all feed off each other’s ideas. That way when the end results in a name each will feel like they’ve been a part of giving you that idea.

Another entrepreneurial business naming error is to tack and adjective together with a noun to come up with one word former with a middle of the word capital letter. If, for instance, your work at home Internet business were to offer online sale of luggage at discount prices you might be tempted to call it something like EconoPack. It’s bad for two reasons. No one can look at that name and know what it is you offer. Is it like a UPS store that offers shipping services? The other disadvantage is that the domain name may turn out to be econopack.com or .net. Which, without a capital P is even fussier. Luggage for Less would be a much clearer name.

If you think of the new (in the last five years) work at home Internet business start ups that have grown online to become household names, you’ll see that they all took zingy, snappy, lively names that differentiated themselves from others and weren’t likely to be copied. They didn’t take boring names that could be forgotten or worse yet, confused with other companies. Yahoo is one example. It could have been World Wide Search Engine instead. Google is another. Monster is a great example of a name that is not only memorable but suggestive of high volume, strength, durability and vast reach. Monster could have been Online Job Resource. What a blah name that would have been. All these started out as work at home Internet business projects by unknown online entrepreneurs. Their choice of business and Web site names paid a large part in their ability to brand themselves and thus to succeed.
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To find the best home based business ideas and
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