LLC stands for Limited Liability Company, and is one of the options when starting a business. Another common business type for certain situations is a partnership, for example when both husband and wife are working the business together. Many of us, when we entered the world of network marketing, chose to start our new mlm business as a sole proprietorship. This was the simplest one, and presented no hassle.
THAT WAS THEN…
But is there a time in your business life to move on? Has your online business grown bigger than you first thought it would? Or, if you believe in the idea of multiple streams of income, are you in more than one business opportunity now?
IS IT RIGHT FOR YOU?
Perhaps it’s time to consider an LLC to see if it might be right for your situation. The following infographic should educate as it features key points to consider.
Is an LLC right for your business?
I’m not saying that this is necessarily the right choice for you at this time, but it doesn’t hurt to become familiar with the benefits, as well as the disadvantages that this business type brings with it.
You started your network marketing business with one approach, in your own name as a sole proprietorship. Now you … Typically, you can NOT transfer a business license from your sole proprietorship name to your new LLC.
IT’S YOUR DECISION
It’s always good advice to check with your personal tax attorney or accountant to get their input. Whether you decide to keep your business as a sole proprietorship, or look at the option of an LLC or partnership, it’s all up to you, and what you feel is the best solution for your situation.
That’s a good question, and if you’re a networker, maybe this post will assist you.
FIRST – WHAT IS IT?
Inbound marketing is a fairly new term, but one you will be hearing more and more about. If you are in the internet marketing or network marketing industry, you better make it a point to learn about what it is, and how it works, because I feel it is changing the way internet and network marketing is done.
Perhaps by drawing a comparison to traditional recruiting and lead generation techniques, which we refer to as outbound marketing, we can gain a clearer understanding of what inbound marketing is. Things like infomercials, newspaper ads, sending out dvds, traditional cold calling of prospects, even hotel meetings depend on interruption of a prospects time.
Inbound marketing, on the other hand, encompasses more of whatSeth Godin calls “permission marketing”, including things like social networking sites, i.e. Facebook, Twitter, and YouTube. Creation of websites and blogs, to provide relevant content for potential customers/business partners you’re trying to attract, also falls within that realm. In addition, relationship building plays an integral part of inbound marketing. True, it is part of outbound as well, but is more in the follow-up phase of the process. Finally, don’t forget the importance of search engine optimization, known as SEO, to get higher rankings on Google and other search engines, because when your prospect is looking, you want to be found.
Where outbound marketing is like throwing mud at the wall to see what sticks, inbound marketing counts on attraction by a tightly targeted group of people.
Webinars, or presentations over the internet, could be considered both, depending on whether with a fixed time frame is perhaps an interruption, or with a flex time component, is part of the discovery or evaluation process.
www.conversionpipeline.com If you are reading on the internet about new marketing strategies, I am sure you have heard the term “inbound marketing” thrown around. Inbound marketing is more of an approach rather than a new marketing service.
INBOUND MARKETING – WHY IT’S GOOD
What are the pros and cons of inbound marketing? The pros are that in most cases, the cost factor is much less than outbound marketing. Another obvious pro is that you’re attracting people instead of coercing them. You’ll also be taking advantage of growing trends, instead of declining ones as the infographic below represents. Appealing to a highly targeted prospect who already has an interest in your product or business opportunity, is certainly an advantage over traditional methods.
INBOUND MARKETING – THE DOWNSIDE
As far as the cons, one would have to admit that, in most cases, it takes longer to get results with inbound vs outbound marketing. Besides that, being willing to learn, and do inbound marketing, will require more effort and education than knocking on someone’s door and handing them a DVD.
hubspot.com HubSpot’s Rebecca Corliss sings her heart out about the horrible life of an outbound marketer. What’s Inbound Marketing? http Credits: Rebecca Corliss (@repcor): Lyrics and Vocals David Fisher (@tibbon): Accompaniment and Music Recording …
IT’S UP TO YOU
The old ways still work, especially if you’re lucky or determined enough to find the right person, at the right time, with a strong “why”, with the resources,… but it’s getting harder and harder to do it that way. And I truly believe that way is slowly fading away. It seems today’s network marketer needs to be aware of the benefits of inbound marketing. That means being connected with Facebook, YouTube, and other social media sites. They also may need a blog, and go after Google rankings, as well as keep working on their relationship building skills. As Harry Caray might have said, “Holy cow! It’s a brand new ballgame out there.”