MLM Business Plan – Why You Need One, and 3 Things That Must Be Included in the One You Create!
Do you have an MLM business plan, or are you like most others in this industry who seem to let this pass by without notice?
Well if you haven’t created a business plan for your MLM home business, then what you really have is an MLM hobby?
Here’s how to go from hobby to legitimate business in 3 easy steps…
Why You Need to Create an MLM business plan….
First let’s get real. You would never open a business on Main St. USA (anywhere) without first having a business plan. In fact business plans are so important that you can’t even get a business loan without one.
So why would you treat your MLM business inferiorly to a normal everyday brick and mortar business?
After all it is a solid business right? If you don’t think so then you may be in the wrong industry. MLM is as much, if not more of a viable business as any other business out there and the faster you get this in through your mind, the better you’ll be. But you truly don’t have an actually business until you have an actual plan to run that business, and a plan to make that business successful.
How to Create an MLM Business Plan Starting Today…
Now I realize that you’re probably not looking for funding for your MLM business from a bank or angel investor, so your business plan may not have to be as professional and/or as thorough as they would like for it to be (although it can’t hurt), but nonetheless your MLM business plan should be clear in certain areas and I’m going to lay those out for you now.
1) Clear Goals… Every business has a goal. On the large scale that goal is to succeed and grow. But that isn’t enough. To plan for that success you need to spell out those goals in a clear and specified manner. Moreover, those goals need to be specified and broken down into timeframes.
So if your goal is to make $100,000 a year with your MLM home business, then you should break that down into milestones for reaching that $100,000. Obviously you can’t just start a business and start making a hundred grand a year right from the get-go, so your goal may be to make just 20,000 your first year, and then 50,000 your next and after 3 years be making 100,000 per year with your MLM business.
2) Operations… Every business has an operations side to it, and your multi level marketing business is no different. So therefore this section of your business plan will lay out what you’ll do in your business on a daily basis.
So basically a schedule… This can also intertwine with your goals, and actually set deadlines to which you want certain things to be done. For instance working online will certainly be a part of your business and therefore you’ll want to set goals to get certain things taken care of like setting up a website, a blog, a social media system, an auto-responder etc. And then you’ll schedule how many hours per day you’ll work on this stuff, and how much time spent on each one individually.
3) Expenses… Of course no business can exist without expenses, even if it is one that you work from home. With MLM you’ll have your set up expense right off the get-go for your business pack, and then monthly you’ll have your auto-ship etc.