What would you buy if you had an unlimited income stream? An exotic car? A beach house? Your own NFL football team? Or maybe you’d opt for something a little less lavish, like college educations for your children? Although we all might answer this question differently, we can achieve our goals through a successful network marketing business.
Unfortunately, many people shoot for this ultimate income goal right at the start, then get frustrated when they don’t achieve it during a relatively short period. Then they quit their MLM business and become another negative statistic. So while this may not seem like a network marketing tip on the surface level, it’s one of the most important things you can do to ensure future success.
(If you haven’t read it already, this might be a good time to one of my other posts, Goal No. 1: Positive Cash Flow).
I don’t want this to happen to you. I want you to succeed and achieve all of your goals – financial and otherwise. To ensure this happens, let’s take it in steps. You might want to grab a pencil and paper.
Examine Your Current Expenses
Let’s start by examining your budget. Make a list of your monthly bills, and keep it relatively generalized at first. It should look something like this:
- Mortgage: $1,000
- Utilities: $470
- Credit Cards: $150
- Automotive: $400
- Medical: $75
- Food: $300
- Entertainment: $150
- etc…
These are our general categories. Now we’re going to break them down even further. For instance, the “Utilities” category might look like this:
- Power/Electricity: $100
- Gas: $75
- Internet service provider: $50
- Water: $50
- Sewer: $25
- Trash: $10
- Home Owner Association: $10
- Cellular phone: $100
- Home Phone: $50
Do this with all of your major categories from earlier. Get as specific as possible. The goal is to end up with a pretty elaborate list.
Replace Your Job One Line At A Time
When most people get into network marketing, they expect to generate enough income to quit their jobs in a matter of months. While this does happen, it’s very rare. Even if they’re making $25 per month, they see it as a failure and bail out.
Instead, I want you to CHANGE your mindset. Instead of thinking “Twenty five bucks isn’t even worth my time,” think about it this way, “that $25 just replaced my water bill!”
See the difference? The latter promotes a positive attitude – one that will keep your motivated!
Now you can start scaling your home business income. As you start cashing bigger checks, attribute that income to bigger and bigger expenses. Soon your MLM paycheck will cover your mortgage/rent. Soon after it will cover your mortgage/rent AND all of your utilities. Then it’ll cover your mortgage/rent, utilities AND your car payment…
By adopting this attitude, your network marketing income will feel much more substantial, and you’ll stay motivated to keep improving month after month.