The truth is that many businesses will probably flop next year. With things in the economy seeming to only get worse, or at least stagnate, there’s no reason to believe that many small businesses and home businesses – MLM or otherwise – will fall victim.
But that’s why setting your self up early will help you prepare and be one of the businesses that not only survive, but actually thrive for the next year.
MLM Business Advice for Thriving in 2012
All businesses, even your MLM home business, needs to have a solid plan to succeed.
Thinking that your MLM business is different is suicidal. And along with a grand business plan, you need to reassess often, and every year you should be strategizing ways that you’ll be growing for the coming year.
If not, you’ll basically just stagnate and rot, or in times like we’re in now…you’ll simply tread water.
So here is MLM Business advice that will help your business grow leaps and bounds this coming year…
First…Build Up a Savings for the Business I know not many people talk about this in the MLM industry, but just like any business, you need to have a back-up cash savings for your business.
You need to have money saved for hard times not only in your personal life, but also for your business.
They say that most of the businesses that have survived the financial turmoil so far, have done so because they’ve cut back on expenses, and saved a stockpile of cash. If it works for them, it will work for you and your MLM business as well.
Second…Market Wisely But Aggressively Of course saving doesn’t mean that you should stop marketing your MLM business. Those businesses that stop marketing will surely die. Customers and new recruits are the lifeblood of your business, so you’ve got to make sure that you’ve got those coming in.
Getting leads is essential because the attrition rate will probably rise as times get tougher. That’s just the way things happen.
People in your downline won’t all heed this advice, and they’ll end up quitting because they’re either not making enough money, or because they can’t afford to market… or tons of other reasons that we will never be able to predict.
Your number one hedge against this is to simply keep marketing. The good part is that as things get tougher and everyone else is slowing down or stopping marketing, it will become more effective and cheaper for you.
Third…Give Your Downline What It Needs to Succeed Never before has your downline been more important to your business.
You need to give them everything they need to survive and prosper as well. If you’ll do this, while others see downline members leaving in droves, you’ll see your downline members increasing productivity, and therefore increasing profits.
Give them motivation, give them frequent contact, and give them all the tools that they’ll need to run a successful MLM business, utilizing successful systems, and you’ll likely see 2012 looking even better than 2011.