Monday, October 12, 2009

5 essential components to run a successful home business

There are some crucial steps you need to have when developing your business model to succeed in your home based business or network marketing opportunity. I am going to discuss the 5 components that you will need to implement in order to run a profitable business.

1. Have to have a traffic generator! How are you going to acquire leads? You have to have something set up to market to your potential prospects. This can be done with mass marketing campaigns which should be directed to the specific community of people you are targeting. Use as many traffic generating resources as possible to create your army of leads by branding yourself to your prospects to create that personal relationship.

2 Your marketing funnel. Once you have leads coming in from your traffic generating sites, you need to provide them valuable information to keep them interested and involved. Not everyone is going to join your primary business and that's ok. But offering an inexpensive retail item that will benefit your leads (joining your business or not) will not only provide you with a little money up front but becoming that expert in authority as well. Email autoresponders are a huge factor in keeping your leads organized. These little email reminders allow your prospects to stay plugged in before they ever join.

3. Your order processor. This step allows you to take the credit card orders without actually being there (merchant accounts). This will definitely save you time so can spend more time building your business. The order processing system will allow you to use the profits from the orders to roll back into your advertising and marketing campaigns. This minimizes or eliminates your out-of-pockets expenses.

4 Your actual product, service, or system. By now, you should have some very interested people coming out of your funnel. These people are now asking about your product or service and now is the time to give it to them.
You should have no problem now with your prospect in agreeing to invest in your product, service, or system.
Only give it to them, if they ASK for it! Never pitch! Many uneducated entrepreneurs decide to pitch their product first. This should never be step 1!

5. Your business opportunity. This is where you should have created that customer for life. By now, you have established yourself as the expert and leader that you prospect has been looking for. Your prospect, or I should say, new team member has now plugged into your system and ready to make the money and create the life he/she has always wanted. Now it is your job to continue to mentor and induce the leadership qualities and skills that you have learned so it can be passed on and on.

So follow these steps in order. This whole 5 step process will allow you to drive traffic, build relationships with potential customers, provide valuable information, and sell the product, service, or system for you.

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