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.
Are you willing to do what it takes, for as long as it takes? You see, patience is not only a virtue, it’s also a bit of practical business advice that you can discover by reading the Bible. I’m reasonably certain it’s not the only one. In fact, patience is often linked with persistence. Also, the passage from the BibleI’m citing is probably not the only one, or maybe even the best example of combined patience and persistence.
But for those that haven’t found the business success they’re seeking, either in their career, or in the online marketing world, this leadership trait of being willing to do what it takes, as long as it takes, I think is exemplified in this story.
The Bible reading is taken from chapter 29 in the book of Genesis, and finds Jacob on a journey that ends at the home of his uncle, and where he first meets Rachel, who will eventually become his bride. He wanted her so much that he would offer to work seven years for his uncle if he would grant his consent. At the end of the seven years, his uncle, because of a curious provision in the law, deceives him into marrying his eldest daughter first. Undaunted, he accepts his fate, yet offers to work an additional seven years in order to marry Rachel also. (Multiple marriages were common back then).
Now, I’m no Bible scholar, and I’m betting that a lot of people would have thought he was crazy to do that, but that sure sounds like patience and persistence in order to get what one really wants. It’s true that he only had to wait a couple of weeks after his first marriage, in order to marry Rachel – still, he kept his agreement to work for his uncle the rest of the seven years. Guess you might say that integrity was important to him as well, as it should be for those aspiring to be true leaders in their organizations.
TWO SUCCESS STEPS
FIRST STEP – DO YOU KNOW?
In order to be successful in your career, do you know what needs to be done? What actions to take? What skills you need to acquire? What knowledge you need to learn?
Inspirational Quotes On Persistence · 48 Comments. Share. Email. Earn. By Lockerz · developmentsecret.com. ↑ Grab this Headline Animator. <. Trust Yourself ! No man with a man’s heart in him, gets far on his way without …
Once you know what needs to be done, are you willing to do what it takes for as long as it takes? Do you have the internal passion to drive you past all the naysayers? Do you have the discipline to direct yourself, before directing others? Do you believe something valuable is worth waiting for? Is your “why” strong enough to sustain you to the end? Is your motto, “Never give up!?”
Patience and persistence are yours if you can answer “yes” to these questions. And you are well on your way to being an example to follow as you work toward, and lead others to business success.
Leadership – a necessary skill if you’re to develop a team and have a chance to attain success in the network marketing industry. A leader must have followers. And a leader must do certain things to be a good leader. Are you a leader? Do you know what’s required in order to be the type of leader others look up to?
If not, perhaps I can provide some insight. My mentor, Steve Shook, recently hosted a leadership training event, in which he discussed what he called the 10 Attributes of a Good Leader in Network Marketing.
Ten Attributes of A Network Marketing Leader
Have a goal larger than those you lead. Your downline needs to know you’re planning for the future, and want to bring them success.
Have a greater and more positive attitude that those you are leading.
Accept responsibility, and be willing to admit your mistakes.
Make positive decisions. Always strive to do the right thing. (For more on this point, click Make the Right Choice)
Put those you’re leading first. They will work harder when they realize your goal is their success. (People don’t care what you know, until they know that you care.)
Lead by example. Don’t just tell them – work with them and show them. This sets the right example for your downline. (Check out the leadership lesson from the dancing guy video at the end of this post.)
Commit to integrity and character. Yes, character does matter. Your downline will have confidence in you if they see you doing the right thing.
Strive for excellence in everything. You may not get there, but you should strive for it, nonetheless.
Improve personal growth and development. Work as hard on yourself as you do on your career. Seek knowledge. (An excellent source is Jim Rohn.)
Must have high level of persistence and determination. In network marketing, it’s very easy to quit. Do whatever it takes, for as long as it takes. In fact, I’m reminded of a quote on a website featuring inspirational quotes that goes like this:
Success is failure turned inside out –
The silver tint of the clouds of doubt,
And you never can tell how close you are,
It may be near when it seems afar,
So stick to the fight when you’re hardest hit –
It’s when things seem worst that YOU MUSTN’T QUIT!
Official transcript at sivers.org — If you’ve learned a lot about leadership and making a movement, then let’s watch a movement happen, start to finish, in under 3 minutes, and dissect some lessons: A leader needs the guts to stand alone and look r…
Successful leaders exhibit these 30 qualities, behaviors, and skills. Which leadershipqualities do you find most important. Which qualities/behaviors did we miss. Item one is first because it’s most important. The rest are listed randomly.
BE THE LEADER YOU CAN BE
Leadership can take many forms, but you must provide the right example that will attract others to follow you. I’m looking for other leaders. Become the leader in you! For books on leadership, check out the SUCCESS RESOURCES link at the top of the page.
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.”
Do you make resolutions or goals to start a new year? Are they pretty much the same, or are they different?
People make resolutions – People break resolutions. People make goals – People break …, well maybe not. The number one resolution each year has to do with weight loss. But it’s also the one that is forgotten or given up on the fastest.
And for those of us in the home business arena, it’s important to know the difference between resolutions and goals, because choosing to create a goal can move you more toward business success.
Here are some articles that may shed some light for you.
There is a difference between a resolution and a goal. Millions of people have resolutions, but very few in comparison have goals. Resolutions are often hastily-made preferences, brought about by the reflection we mentioned …
www.AsAManThinketh.net for a Free eBook of one of Jim Rohn’s favorite books. In this video the legendary teacher, trainer and mentor to millions worldwide shares some very simple yet profound steps we can take when setting goals. Part One.
So now you have some insight on the differences between resolutions and goals, and the importance of choosing to set goals that are specific, measurable, attainable, reasonable and timely. I wish you the best of success in 2012.
Sometimes it’s easy, and sometimes it’s not. Sometimes the right choice is obvious, and sometimes it takes research, discovery, or perhaps study. And let’s admit it, the possibility of always choosing the right path is probably not going to happen, but as leaders, (whether in business, or anywhere else) we should always strive to make the right choice.
The right choice strengthens your character and illustrates your integrity. When you choose to do the right things, it shows those you are leading that “character matters”. Making your goals and aspirations subordinate to those of others builds trust.
The right choice demonstrates responsibility. When you realize that you are the one that is ultimately responsible for your own success, you set an example for those that are following you.
The right choice should always be in harmony with our values. Too often in the world today, decisions are made because they just affect others, but the real challenge is to always do the right thing, even when it’s uncomfortable, or negatively affects us personally.
For real leaders, the message is clear. Make the right choice – always!