Start Your Own Business

Dear Friend, if there is no money in your pocket, it means you are not selling. If you want money sell something that meets the needs of people.

Give something that is useful to people in return for their money. Identify what people want, give it to them and they will give you their money.

A very wise person once said, “If you want to be rich and successful, observe what the rich are doing and do the same.” The “no money syndrome” should not stop you from doing business to earn a decent living.

Most of the big companies that are great and successful started from the scratch. Their startup capital was not big but small.

Aliko Dangote, a Nigerian and CEO of Dangote Group started his business as a small trader in 1977. He was said to have borrowed N500 000 from his grandfather to start the business that has today made him the richest man in Africa and the richest black in the world.

He started by trading in flour, sugar and salt. He built his company into an enviable one with branches in many other countries.

We can take inspiration from Aliko Dangote.
One way to start and operate a small trading business requiring very little start-up capital is to become an independent agent with a reputable network marketing company that sells quality products or services.

Most products are sold through a multilevel profit distribution plan. Basically it works this way: The Company sells its product to a wholesaler at a profit. The wholesaler sells it at a profit to a distributor. The distributor sells it at a profit to a retailer who in turn sells it at a profit to the final consumer.

Network marketing involves retailing products or services to people and earning a commission on the sales.

To make big money you have to recruit others into the business. When they sell the product you earn a commission on their sales.

Your recruits are expected to recruit others. When those others sell you earn commission on their sales as well. This is supposed to be the trend and can go down several levels.

From the one you’ve recruited to the last person recruited in the chain constitute your sales force or downline. You earn commissions on your downline. Each person recruited also earns commissions on their downline and so on and so forth.

In network marketing, the people above you constitute your upline and they also earn commissions the way you earn your own.

To really make it big, bring more people into the business as your recruits. They should be serious and committed.

Since some companies may be dealing in spurious products, care should be taken when deciding which company to join or represent. Get a profile of the company which will give you an insight into its operations.

The profile will indicate the age of the company, vision, mission and values, the people behind the company, their methods of operation, the products or services and target group and marketing plan.

If you want to build a stable stream of income, go in for products that will need to be replenished quite often rather than products that are for a once-in-a-lifetime purchase.

Take a look at the price of the product. If it is overpriced, this can scare customers especially if they can get the same or similar product at a relatively cheaper price in another shop. You want to sell, so the product should be fairly priced.

Some people are lured by the promise of big commissions to jump into network marketing selling without preparation and get disappointed along the way. You need the skills of a salesman to succeed.

If your sponsor is very well experienced, he can mentor or train you in the business. If he is a neophyte, look up to those others in your upline for help.

Your success is their success and they will be more than willing to provide training that will equip you for the job. You can also attend meetings where the more experienced ones share their ideas.

You also need to have an excellent working knowledge of your products. To be on top of issues you need to sharpen your leadership skills in influencing people.

Tell the customer how the product will help improve the quality of their lives. Let them know that by buying your product they will be better off than without it.

Business requires serious effort and time. Some people fail at network marketing because they operate it not as a business but as a hobby.

Be serious because you want to succeed. It is not something you can do at your spare time.

Love of the work is also essential. Lack of interest means lack of motivation. This can result in failure.

Once you have settled on the company you want to do business with, your next line of action will be recruiting the best. Yours commissions will depend on the quality of your sales force (downline).

It is good you start with people you trust and who trust you. Talk to people who are willing to listen to you.

Begin with your family, good friends, your co-workers, church members, association members, school mates, your neighbours and make an excellent presentation of your product to them. Because they know you they will be prepared to listen to you.

If you don’t have good communication skills, get your sponsor to be present during your presentation. He will help clarify grey areas.

As you bring more contacts on board, you are in effect getting yourself well established for success.

You have been given an insight into network marketing. Now start your own business and make good money.

Let me conclude my thoughts with a quote from Caleb MacAfee who said, “If you earnestly pursue your MLM (Multilevel Marketing) business with passion and treat and motivate the folk you sponsor with genuine love and concern, your new organization will grow and flourish and so will you.”

Let me know how this message has impacted your life. You can reach me on 0208 455 296 or email me at [email protected]