Having your own business sound like a great idea, especially after reading the statistics in Part One.
But where do you get the know-how, how do you start, and what do you have to do? Let's look at some options.
Start a business from scratch This is how many of the big names in the business world began with their enterprises.
To succeed this way you must have a great idea, good business skills combined with a strong entrepreneurial streak, and lots of money.
Probably some good luck as well.
95 percent of business's started this way fail.
Why do they fail? The would-be entrepreneur lacks business skills, does not have a good system in place, and runs out of money before he or she has had a chance to develop the skills needed for success.
Buy a franchise Franchises have a much better track record, and 75% of them succeed.
They have a good idea, but most of all, someone has put together a proven system that works.
Everyone is familiar with fast food operations and how they are all exactly the same.
It's a turnkey system.
You just open the door and get started.
Oh, one more point - you first have to buy the franchise, and that costs anywhere from $200,000 to $1.
5 million.
When someone buys a franchise they are really buying a job.
The franchisee will end up working very long days, and face limits on business size and income.
You will also be locked into the system, and that means no room for trying out new ideas or doing your own thing.
Another alternative If you don't have a break through great idea, have never run a business, and have limited cash, starting your own business may be looking like an impossible dream.
However, you can start a business of your own without a brilliant idea, complex business plans or large amounts of cash on hand.
This is a method that has been endorsed by well-known entrepreneurs and authors such as T.
Harv Eker, (The Millionaire Mind) and Robert Kiyosaki (Rich Dad, Poor Dad).
Yes, it's that much maligned entity called network marketing.
Advantages Someone has taken a great idea and developed a proven system, and you need relatively little money to get started (less than $2,000).
Not bad for starting a business of your own.
Like most businesses you find customers and sell products, but in this case you also recruit other salespeople to your sales team.
You are paid on the combined effort of you and your team.
Remember the comment in Part One about leveraging the efforts of others? This is it, and this is the magic of network marketing.
Those team members you recruited then start to do their own recruiting, and that way it's possible to build a network of hundreds, or thousands of sales people and customers.
In Part Three, we'll go over what to look for a good, solid network marketing company.
But where do you get the know-how, how do you start, and what do you have to do? Let's look at some options.
Start a business from scratch This is how many of the big names in the business world began with their enterprises.
To succeed this way you must have a great idea, good business skills combined with a strong entrepreneurial streak, and lots of money.
Probably some good luck as well.
95 percent of business's started this way fail.
Why do they fail? The would-be entrepreneur lacks business skills, does not have a good system in place, and runs out of money before he or she has had a chance to develop the skills needed for success.
Buy a franchise Franchises have a much better track record, and 75% of them succeed.
They have a good idea, but most of all, someone has put together a proven system that works.
Everyone is familiar with fast food operations and how they are all exactly the same.
It's a turnkey system.
You just open the door and get started.
Oh, one more point - you first have to buy the franchise, and that costs anywhere from $200,000 to $1.
5 million.
When someone buys a franchise they are really buying a job.
The franchisee will end up working very long days, and face limits on business size and income.
You will also be locked into the system, and that means no room for trying out new ideas or doing your own thing.
Another alternative If you don't have a break through great idea, have never run a business, and have limited cash, starting your own business may be looking like an impossible dream.
However, you can start a business of your own without a brilliant idea, complex business plans or large amounts of cash on hand.
This is a method that has been endorsed by well-known entrepreneurs and authors such as T.
Harv Eker, (The Millionaire Mind) and Robert Kiyosaki (Rich Dad, Poor Dad).
Yes, it's that much maligned entity called network marketing.
Advantages Someone has taken a great idea and developed a proven system, and you need relatively little money to get started (less than $2,000).
Not bad for starting a business of your own.
Like most businesses you find customers and sell products, but in this case you also recruit other salespeople to your sales team.
You are paid on the combined effort of you and your team.
Remember the comment in Part One about leveraging the efforts of others? This is it, and this is the magic of network marketing.
Those team members you recruited then start to do their own recruiting, and that way it's possible to build a network of hundreds, or thousands of sales people and customers.
In Part Three, we'll go over what to look for a good, solid network marketing company.
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