If you have a home business, you are probably taught to contact your friends and family about your business opportunity. That has become the norm for advertising your home based business. Advertising has undergone a tremendous revolution in the last few years and any smart business owner needs to be aware if they want to build a large organization from home. Guess what? Contacting your friends and family are NOT on the list of secrets.
The problem with the home based business industry is that we have been, and continue to be, taught terrible principles of entrepreneurship by many of the leaders of these different MLM companies. These people only speak the company rhetoric and no real business ownership principles. So, lets get into some entrepreneurship principles that can help you.
Principle #1 – You must advertise
This is not an option. And I’m not talking about to your friends and family. Advertising is a fundamental principal that if you adhere to it, you have no choice except to garner leads, prospects and customers if you do it consistently. So what’s your advertising strategy? I know you are taught to utilize the ‘friends and family’ strategy but that works for 1% of the network marketers out there and it’s not enough to make any real money in this industry.
Principle #2 – Diversification
The smart entrepreneurs that I mastermind with realize that this is crucial to creating a solid, everlasting business. Being a former financial advisor, I know this all too well. I taught clients not to keep their eggs in one basket. Even though it’s cliché-ish, it never been more true. Most people live by the “Single Point of Failure” rule, meaning if one specific thing was to happen it could destroy your business. The smartest and most successful business owners diversify their income and businesses. Most entrepreneurs don’t spend time on just one source of traffic. For example, there was a guy who sold travel packages. He would fax coupons and deals to, seems like, every fax machine in the country. He made a lot of money just faxing things. Well, the government stepped in and outlawed fax broadcasting. For every unsolicited fax, that was a fineable offense. Overnight his business was over.
The more sources you have for your prospects, the more stable your business is going to be for the long term. Entrepreneurs that diversify well know they will have a steady stream of business now and in the future.
Now, for this reason I want to tell you about the importance of the internet. There are a multitude of ways to get new prospects on the Internet but the key is to put yourself ahead of the pack. You have to learn the newest strategies, newest skillsets, and the cutting edge information before the masses get a hold of it. In order for this to be prosperous for you, you have to stop thinking like the ordinary home business owner and start thinking like the true entrepreneur.
In the coming series that I am doing on internet advertising, I am going to go into detail on the 5 ways to get massive traffic and leads from the internet. Stay tuned and subscribe to this as my goal is to give pure content and value to help you grow your home based business.