I was introduced to the Internet in 1993 by a programmer who shared how easy it was to make a website. A light went on. I had to learn this. I did and started my own business in 1995. I had the passion, confidence and determination to make it work. I set out to make a good life for my daughter and to get her through college without a loan. I did that and my business is still around today. Is my business a success? Well I can’t compete with Amazon, Google or Craigslist and I started before all of them but I did what I set out to do.
An entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. The desired outcome being much profit to make the business thrive without you and make you financially free. Today I will discuss a few different alternatives for an entrepreneur.
No matter how you start your own business the odds are against you. Most fail in the first year and success is usually determined on how long you are able to stay a float.
The reason for most failures of tradition business is lack of a good business plan that takes into account lack of capital, no management skills and insufficient marketing. Really, it is not knowing what you are doing.
You might say I created a dream job and became self employee but if I didn’t work it, I didn’t get paid. However, I did not answer to a boss, my time was my own and I could be as creative as I wanted.
Looking back at our country’s history and looking at our economy today, being gainfully employed like the 1950’s isn’t as lucrative anymore. The worker thrived then. Although today, most household incomes are generated by being employed but jobs aren’t lasting as and pensions are a thing of the past. In the 1900s the common source of income was produced from your own mercantile. My great grandfather was a shoemaker. My grandmother was a milliner.
So what type of business creates an income with the potential of being financially free with as little investment and risk as possible? My business cost me $5,000 for a new computer and the software needed. Money I soon recovered. The average startup cost for a traditional business is over $30,000.
How about a franchise? The risk isn’t as big since the process is in place but the investment can be huge. The licensing for McDonalds franchise is $45,000. Some licenses are as much as $250,000. This doesn’t include much of your other startup costs; building, supplies, inventory etc. What does it take to overcome these costs and turn a profit.
Today many business experts are seeing the value of what is know as: multilevel marketing, direct sales or network marketing. These business models offer a process for an entrepreneur with an investment that is affordable. The entrepreneur doe not need a business plan since the process is in place and proven to work.
Robert Kiyosaki author of the best seller, Rich Dad, Poor Day also authored Business of the 21st Century. He claims if you want financial freedom start a multilevel business.
Jim Kramer of Mad Money told viewers, It’s time we recognized that the direct sales model works and it works well.
Jim Rohn a renowned Business Philosopher said that Network marketing is the big wave of the future. It’s taking the place of franchising, which now requires too much capital for the average person.
Pros of multilevel marketing
- Minimal investment
- Residual income
- Income that grows without you
- Easy to work part time.
- Personal growth opportunities.
- A way to teach others to make money
Cons
- The odds are still against you.
- It does take time to create a good residual income.
- Income is not guaranteed.
- You must overcome the misconceptions about the industry such as: pyramid scheme
- Some products and services can be difficult to sell.
I still create websites but I was ready for a change. I appreciate the value of multilevel marketing with the process in place and the ability to share my success and wealth with others. I am not ready to divulge my new endeavor. That will be another speech. However, if this intrigues you enough, I would be glad to sit down with you and share my direction. I use to avoid multilevel companies like the plague. Many share this view. It has a bad rap. My wish is that I opened your mind to the possibilities that are still out there.