Mini-Lessons for Your Network Business
I want to share some valuable mini-lessons for Your Network Business that I have learned so far as an entrepreneur..
These range from mistakes to avoid, to making strategic decisions, of how to get cash flow to come in the fastest, etc.
The Richest People in the world look for and Build Networks. Everyone else look for work.
The answer is LEVERAGE!
There are Possible 2 ways to earn income. One is Linear Income, and the other one is Residual Income.
- ALWAYS DO MORE THAN IS EXPECTED OF YOU
I learned this at an early age from my Dad. You can apply this to your business in many ways… over-delivering to your customers, giving unexpected bonuses to your employees or outsourced workers, and more.
Most people do just the bare minimum. Do more than is expected of you and it will do amazing things for your Network Business.
- STOP DREAMING AND START DOING
Too many entrepreneurs get caught up in the big dreams of how they will one day be rich and how their life will be amazing…but they never end up doing anything.
They buy courses, read all they can, jot down little notes and ideas in a notebook, but nothing ever actually gets created.
A web site doesn’t get made. Advertising isn’t run. Markets are not tested. If you want to make a lot of money the only way that happens is getting stuff done.
- DON’T LET LEARNING DELAY ACTIVITY in your network business
Most people that have studied Internet Marketing much already have the basic skills that are needed to build a million-dollar business.
You can get stuck learning new stuff FOREVER. There will always be new methods and techniques that get discovered. The Internet changes on a DAILY BASIS. This is a given.
Don’t get caught in the trap of “I am going to start building my business right after I go through this next course…”
You can start building your business TODAY while you are studying and learning new things that you can easily apply TOMORROW.
Things will NEVER perfectly align for you and your business. There’s no such thing. So don’t wait. Get started NOW and take action. Get some stuff going and go from there.
- MULTIPLE IDEAS CAN BE THE KISS OF DEATH of your network business
It’s okay to work on multiple projects and ideas. It is almost impossible to stop entrepreneurs from having tons of new ideas at the same time.
BUT
No new money comes in the door until you get ONE project launched and making money.
Something has to be launched FIRST.
- MAKE JUST ONE DOLLAR FIRST
No one has ever made a million dollars in sales without generating $1 first. ALL successful businesses start with that first sale and then grow from there.
It doesn’t matter what your income goals are. The faster you make your first dollar, the faster you will reach your goals.
I recommend you to start with Magnetic Sponsoring.
- DO THE IMMEDIATE CASH PROJECT FIRST
What should you work on next? Whatever will bring in cash the fastest for your business – and of course, I mean that in a moral/legal/ethical way.
If you analyze all the great ideas you are probably sitting on, I bet you can realistically prioritize them in the order of which ones would actually make money come in the fastest (if it succeeds.)
THAT is the project you need to focus on.
Cash is the lifeblood of your business (and your life.)
Save some of those “big” ideas for the future. Focus on the ones that stand the best chance of getting new money to come in right away. Once you have some stable ongoing cash flow in your business, then you can take a chance on that project that may take longer to pay off.
- EMAIL MARKETING KICKS THE CRAP OUT OF EVERYTHING ELSE
When it comes to growing a business online, nothing generates long-term cash flow like an email list of engaged subscribers & customers.
Email marketing is the best way to generate traffic. It’s the best way to ‘recycle’ the same visitors again and again to any of your projects. It’s also the best way to convert prospects into buyers.
RSS, Twitter, Facebook, YouTube, etc
Yes, those methods generate leads. Yes, those methods can generate some sales.
Twitter is a powerful tool for you as a marketer, but only if you are willing to put in the time and effort to use the site. You need to spend time on Twitter building relationships and followers and Tweeting useful information for your followers to read.
That really is the key to succeeding with Twitter.
In fact, building relationships is the key to succeeding with any social network.
But time and time again little old email marketing kicks their butts – by a long shot.
So make building a list, and a solid relationship with it, a top priority in your business.
- RUN A LEAN OVERHEAD MACHINE
I can’t stress this one enough. When you start growing a successful business it’s really easy for your overhead to get out of hand. It’s easy to start hiring a bunch of people and committing to a bunch of expenses.
What you need to realize is that REVENUE doesn’t mean jack squat. It’s your profit (income) that matters. It all comes down to your expenses.
Sometimes it certainly DOES take heavy expenses in order to make a lot of money. But that’s not my point… My point is, your overhead can really get away from you. If your sales experience some dips, and it’s almost guaranteed they will at some point, then you can LOSE YOUR BUTT very quickly.
So add to your overhead as a last resort.
- MAKE ACCOUNTING A PRIORITY in Your Network Business
This is a big mistake that most entrepreneurs make.
Keeping the books and doing accounting work is the LAST thing that most entrepreneurs want to mess with. We have more fun by coming up with new ideas and trying to make them grow — not spending hours of our time inputting receipts and figures into QuickBooks.
If you don’t like accounting, immediately pay someone a few bucks to handle it for you. Just make sure your accounting is always up to date. It’s very important.
As an extension of this, make paying your taxes a priority — even if you pay them in advance.
It’s easy to start making a bunch of money and think “I will just use this money to make more money instead of paying my taxes on it now and I will just pay the taxes later after I’ve made even more money.”
Or the same thinking is applied towards delaying payments to a vendor, or some other expense that needs to get paid.
This is probably the #1 mistake entrepreneurs make that can create problems and a lot of wasted money in paying penalties and interest.
So make sure your accounting is taken care of and your taxes get paid on-time for you.
- ALMOST EVERYTHING TAKES LONGER
When creating new projects, or having some software made for you, or anything else, know that things almost always take more time than originally expected.
This is the #1 reason why you need to act TODAY to start putting things in motion to grow your business. The longer you wait, the more into the future you push your potential of getting money to come in the door.
- THE MONEY IS IN THE MARKETING
Don’t get caught up in trying to make Web pages and learn HTML, or studying how to create javascript, or learning to master Linux so you can administer your own server, or how to use Photoshop to create little logos, etc.
You can certainly do that stuff if you want, but know that it will most likely just be a HOBBY.
It’s no surprise that most of the successful entrepreneurs are also some of the LEAST TECHNICAL people.
The main thing they do right is to simply pay others to do all the “nuts & bolts” stuff that makes online business work.
It allows them to spend all their time on the marketing – which is where the money comes from.
SPENDING TIME ONLINE ISN’T NECESSARILY WORKING ON YOUR NTEWORK BUSINESS
Just because you spend hours a day online doesn’t mean you’re working on your business.
You can do ‘research’ forever and never make a cent.
You need to be spending most of your time on:
- Generating Traffic
- Communicating with Your Customers (i.e. blog, list, etc.)
- Creating Content and Value
I hope you enjoyed these mini-lessons. Hopefully, you can apply them to your business and be a lot more successful!
Yours for Online Profits,





















