Happy New Year! What Are Your Resolutions?
This year, 2010, may be the best year in our personal history to start a business. Why? Because we are coming out of the worst recession I have every known and that is usually a period of exceptional economic growth. Businesses will be growing like crazy and hiring the umemployed hopefully, and things will really begin to hum. The time is now to start that new business!
When trying to decide what to do, remember that in business we sell a product or service. Will you invent or create a product, or will you sell somebody else’s product? Will you be a salesperson for another company or will you sell for your company? These are all important questions to answer and are the foundation of your business.
Another important question to answer is: What is your budget for promoting your product and business? Are you starting with nothing or do you have a few hundred dollars a month to spend? If you are starting with nothing, it may be best to be an independent reseller of another company’s product line because they often have everything you need to promote the products. They have materials and advertisements, they may have a website you can use, and they may have an existing customer base that can be sold to.
Multi-level marketing often offers you a good commission for personally selling the company’s products plus a bonus for bringing other sales people into the business. It is a way to start small with real potential for growing big. Success is not going to be handed to you but multi-level marketing offers some real benefits. The downside of multi-level marketing is that there is often competition for the market for the company’s products. The trick is to find a way to either appeal to a new market segment or find undiscovered customers. Often, though, small business people want to sell to local customers and don’t care about building a multi-billion-dollar empire, so selling with little startup is appealing.
Good luck to you and follow through with your New Year’s Resolution to start a new business. Small businesses make up the majority of commerce in the United States and we can sure use the boost right now.