Common Mistakes Committed In Your MLM business

Lets face it. Its a harsh world out there. There is the good, the bad and the ugly. In any working environment, your friend or colleague is also your rival and enemy. This is because there are many people eyeing the same promotion. In the rat race out there, it is a dog eat dog world. (no pun intended).

This is where Multi Level Marketing or MLM comes into the picture. Now the world is presented with a new business model that grants every individual member an equal chance to progress upwards. No glass ceilings, high income potential with residual and passive income.

Too good to be true?

My answer,
Is it a good enough reason to stop looking?

However, I am not trying to assure you that starting a MLM business would be cakewalk, neither is it a bed of roses in the MLM industry. The industry itself is fraught with black sheep to make matters worse.

Good news is there are still many people that are successful in their MLM business. Millions of individuals are achieving financial freedom through MLM’s huge income potential. You can be one of them too if you avoid committing some of the taboos and mistakes in MLM.

1) Avoid MLM companies that offer compensation based on recruitment

Some MLM companies focus heavily on the recruitment of new members. They advocate the “3 feet rule” which is to share the business to anyone and everyone that comes near you.

The sales pitch that the company teaches you often requires you to bait-and-switch your prospects into joining the business even before they even know anything about the product if there is any product at all.

Beware when you come across these companies as they are most likely pyramid schemes or money games with no real product involved. Keep in mind that MLM is a business model that is different because of its chain of product distribution.

If there is no product to distribute, where is the money coming from?

From your pocket and your recruitment’s pocket and so on of course!

2) Avoid MLM companies that push their members to stock up on the companies’ products

If the company periodically “encourages” you to purchase expensive products without equipping you with any product knowledge or even before you know how the product benefits you, this is another tell-tale sign that you have joined a fraudulent company dabbling with a pyramid scheme.

Legitimate MLM companies will never force their members to purchase the companies’ products. After all, the right reason for joining any specific MLM company should be because you believe that the products they sell are genuinely beneficial and effective.

How are you going to share your companies’ products or even the MLM business opportunity when you cannot even convince yourself that the products are good?

Always recall the basic fundamental principles of the business model when evaluating whether the company is a legitimate MLM company.

3) Some distributors do not commit enough to their business

Many people enter the MLM industry on a whim or impulse after being impressed by the potential of the business. However, there is no free lunch in the world. MLM is a business and one needs to invest their time and effort in order to become successful in this industry.

You need to put in 100% effort over a period of time before your MLM business can pick up pace and start to produce results.

4) Not ensuring that your organization stay active

It is vital that you recognize that in a MLM business, your organization is very important. Keep a tab on members that start to get less active. Be genuinely concerned and find out their reasons behind their drop in activity.

If some of them are losing motivation, be sure to get them back on the right track by addressing their concerns and problems. Teamwork is very important in any MLM business. Nobody can be very successful in MLM by going it alone, furthermore, the business model itself builds upon networking. Therefore, you cannot be afford to be lazy and ignore any drop in activity even if it is a slight one.

5) Unsure of why you are in MLM

To be successful in your MLM business, it is important that you have a clear focus on what you want. Goal setting is very important. It is also not enough to just set goals. You need to set goals that are realistic yet challenging enough to stretch your personal limits. A clear focus provides you with a direction in your MLM business and goals act as milestones in your journey to success.

A good book I would recommend would be “Goals: How to Get Everything You Want-Faster Than You Ever Thought Possible” by Brian Tracy.

6) Lack of discipline and action

Having a clear focus and effective goal setting is not sufficient. You will need a high level of disicpline to stay committed to your MLM business. In addition, no results will be created without strong action, therefore do not procrastinate when you are running your MLM business. Time is money!

Do not expect your MLM business to produce the desired results if you do not reflect on yourself and recognize your weaknesses. Correct your mistakes today and take action on your plan to financial freedom!

An Investment in CMMS Maintenance Software Pays Off

An industry, whether large or small, depends heavily on its equipment to get work done. Relying entirely on planned maintenance might not help you prolong the life of said equipment, mostly because faults usually occur without warning. Thus, something a bit more intricate that will point out any changes in vibration intensity, oil levels and so on is needed. And that something is CMMS Maintenance Software. A CMMS program is built with several components, but that of preventative maintenance is among the more important ones. Most CMMS tools revolve around work orders and inventory tracking, as well as safety management. But in this context, we examine the maintenance tool in more detail.

Maintenance software does not guarantee long life for your equipment in isolation though. It becomes the guiding tool that maintenance workers rely on. Ensuring that operations are without error and that any failure that is likely to arise is corrected guarantees equipment productivity for the longest time possible. The tool is meant for the maintenance department in the company/industry, and offers a comprehensive interface that covers everything from the simple to the more sophisticated equipment.

Considering the role that the maintenance software is burdened with, it’s only mandatory to ascertain that it is ready for the job. Finding a good vendor that can understand the nature of your business and provide something that will be able to fit in the environment is half the job. Maintenance needs differ from company to company. For instance a manufacturing company will have different equipment from an assembly plant. That means the maintenance needs, though similar, are very different and the CMMS system purchased has to be able to fit the role.

It is good to invest in CMMS Maintenance software that’s able to produce inspection lists when the time comes. This makes the whole process of preventive and corrective maintenance easier since the inspection lists act as a guide and saves on a lot of time. Any parts replaced, or upgrades done are recorded and everything about the equipment is kept track of.

Before the purchase of CMMS maintenance software, it’s good to get an estimate from the various vendors to see which one offers the best package for the most competitive price. All the CMMS program specifics are covered here and you get to decide whether the price you are offered is the best you can get. You can even get a demo of the product. This helps you learn about the user interface of the program, together with the various components it comes with. If the CMMS is sophisticated, inquire if the vendor offers some training on how to use it, and if that is going to cost any extra.

When you have all these details out of the way, you can purchase the CMMS maintenance software and see what changes it brings to your business. If it’s a success, then the return on investment is very high, more so when productivity increases, and equipments stay in health for a long time.

How To Have Lenders And Investors Eating Out Of Your Hand

Picture yourself sitting at a desk, in a bank, as a small business loan officer. Your job is to make lots of good profitable loans .To do that you have to convince your superiors that a particular borrower is a good risk. You need to separate the good from the bad, pitch the good to the loan committee and the bad out the door. Get it right and bonuses and promotions are yours. Get it wrong and you won’t be around too long. Oh, and one last thing – you don’t have a crystal ball.

How do you tell the good loans from the bad? You poke and prod to find the answer to one central question – can I trust this borrower and this business to succeed. You want to find borrowers who are prepared, who know their business and who will make you look good to the loan committee. You’re paid to say “yes” – it’s how the bank makes money – but only to people who will be trustworthy, creditworthy, customers.

Now picture yourself walking in to that banker. You want him or her to know that you’ve done your homework, that you’re prepared to win and that you’ll look good to the bosses. You need to show the who, what, when, where, why and how of your project in a way that can be passed up the chain of command. There is one, and only one, sure way to do that. You need to bring a business plan.

A business plan is the report that’s generated by asking a series of questions about your project or business. You describe the company, its products or services and the people who will make everything happen. You tell about the competition and how you will compete against them. Based on your vision, you provide a forecast of future profits and cash flow. In short, you create a blueprint for your success that makes it easy for the banker to say “yes!”.

This isn’t to say that a business plan is an instant answer to a loan or investment. Your project will eventually live or die on it’s merits. The business plan only examines and describes your project’s chances for success. But, by taking a good look at your project before you jump in (and ask others for money), you increase dramatically your chances for success and show that you are a careful and serious businessperson. When you hand a banker or investor the results of your homework (the business plan) they’ll take you seriously and will be eating information out of your hand.