Seven Deadly Sins to Avoid Working From Home
People ask me every day, "What do I need to do to make good money working from home?".
I quite often hit on a time tested list of things that will really help ensure success.
Today I will flip over the coin, and hit seven things that will quickly kill your cash flow.
1.
Program Jumping-- If you like to join a lot of programs, and always seem to be chasing a "better deal", this will kill you.
You will always be starting over, and learning and relearning products lines, compensation plans and advertising systems.
You will always be in learning mode, and you will never be in earning mode.
2.
No DMO-- If you do not have a "Daily Method of Operation", you are probably waking up and just doing tasks for the sake of being busy.
If you are working your business part time, you will always be under the gun for time.
If you are working your business full time, you will probably be doing a lot of thing that are not "Income Producing Activities".
You need to set up a daily plan of action, and stick with it for 90 to 180 days.
3.
No Real Sponsor-- If you do not have a sponsor that you are in contact at least weekly, you are in big trouble.
If you are doing everything all by yourself you will be making some big mistakes.
You need an active sponsor.
If you do not have one, you need to get one.
This is a critical point to your success.
4.
Trying To Master Too Much At The Same Time--If you feel like you are spread thin and are not getting anything completed in your business, you are trying to master too many things at once.
Go back to your sponsor and figure out the one or two things you need to master right away.
Do these tasks first, and if you have extra time you can work on the third one on the list.
5.
Mastering Wrong Things-- You need to understand what Income Producing Activities are for your business.
If you are mastering things that do not help your bottom line, you are almost certainly working on the wrong things.
6.
Short Term Thinking-- If you are worried about making money this week or next week, your time horizon is too tight.
You must take a long term approach to your business, even if your needs are immediate.
You have to give your business time to develop and mature.
This item kills a lot of businesses before they have a change to actually succeed.
7.
No Residual Component To Income-- You need to make long term (residual) income from some part of your business.
If you have no residual income coming in, you wake up each and every day looking for your first sale and first money of the day.
When you have customers buying from over and over, you have the ability to enjoy the "life time value of the customers" versus one time sales.
This will explode your business and will allow you to have some predictability in cash flow.
As you can see, there are key things to avoid in growing your business.
Some items are easy to implement, and others are quite a bit harder to do.
Take this advice to heart, and you will see an improvement in your bottom line relatively quickly.
I quite often hit on a time tested list of things that will really help ensure success.
Today I will flip over the coin, and hit seven things that will quickly kill your cash flow.
1.
Program Jumping-- If you like to join a lot of programs, and always seem to be chasing a "better deal", this will kill you.
You will always be starting over, and learning and relearning products lines, compensation plans and advertising systems.
You will always be in learning mode, and you will never be in earning mode.
2.
No DMO-- If you do not have a "Daily Method of Operation", you are probably waking up and just doing tasks for the sake of being busy.
If you are working your business part time, you will always be under the gun for time.
If you are working your business full time, you will probably be doing a lot of thing that are not "Income Producing Activities".
You need to set up a daily plan of action, and stick with it for 90 to 180 days.
3.
No Real Sponsor-- If you do not have a sponsor that you are in contact at least weekly, you are in big trouble.
If you are doing everything all by yourself you will be making some big mistakes.
You need an active sponsor.
If you do not have one, you need to get one.
This is a critical point to your success.
4.
Trying To Master Too Much At The Same Time--If you feel like you are spread thin and are not getting anything completed in your business, you are trying to master too many things at once.
Go back to your sponsor and figure out the one or two things you need to master right away.
Do these tasks first, and if you have extra time you can work on the third one on the list.
5.
Mastering Wrong Things-- You need to understand what Income Producing Activities are for your business.
If you are mastering things that do not help your bottom line, you are almost certainly working on the wrong things.
6.
Short Term Thinking-- If you are worried about making money this week or next week, your time horizon is too tight.
You must take a long term approach to your business, even if your needs are immediate.
You have to give your business time to develop and mature.
This item kills a lot of businesses before they have a change to actually succeed.
7.
No Residual Component To Income-- You need to make long term (residual) income from some part of your business.
If you have no residual income coming in, you wake up each and every day looking for your first sale and first money of the day.
When you have customers buying from over and over, you have the ability to enjoy the "life time value of the customers" versus one time sales.
This will explode your business and will allow you to have some predictability in cash flow.
As you can see, there are key things to avoid in growing your business.
Some items are easy to implement, and others are quite a bit harder to do.
Take this advice to heart, and you will see an improvement in your bottom line relatively quickly.
