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If you are thinking of starting an MLM, party plan or direct sales business, you will know that there is a lot that you have to do. But where do you start? It is a good idea to get some of the groundwork done before you start, possibly this will often mean things that you hadn't thought about, things that most people do as a reaction to circumstances rather than as a planned activity. However, in practice you will almost certainly find that it is easier to set things up right at the beginning, so that systems grow with the business, rather than find yourself "firefighting" later on. Have a plan and you will succeed!

Here are a few things to think about and do, before you dive straight into running your new business. Get the foundations right and you will be well on the way to a successful business.

Think about your goals. What are you setting out to achieve? Write them down. Did you know that only 3% of people have written goals? ..and did you also know that these people earn up to TEN times more than people without written goals!
Research your options. Do your homework. There are many types of direct sales companies out there and an equal number of different compensation and commission packages. Before you start to make sure you are getting the most commissions and compensation from your company. If you already started, don't be afraid to make a change. Also, it MUST be a good fit for YOU!!!
Make sure you have an exit strategy. About 5% of those who start a direct sales business continue for more than 4 years. Some MLM's require a large up front investment for supplies and inventory, especially jewelry. If selling is not your thing, you do not want to be stuck with $3000.00 worth of merchandise that will only get you sick when you look at it.
Acquire a good tax, sales, customer and inventory management software. One of the hardest things to keep track of in a direct sales business is the paperwork required for taxes. Party Manager Software works great for this purpose. You will be able to print sales, expense, mileage and inventory reports that will blow your accountant away.
Find a good accountant. Someone who is proactive and forward thinking. Taxes are a pain even for the math geniuses.
Find a mentor. This is important as the direct sales industry is a tough business. However, it does payoff if you are good. About 5% of those who start a direct sales business continue for more than 4 years.
Determine your advertising channels. The free ones are best. Use the free lists under "Free Stuff" to determine easy ways to promote your business.
a. 60+ places to leave catalogs

b. 80+ ways to book a show
Open a separate bank account. Keep your business transactions separate from your personal ones. You will find it is much easier to manage and your accountant will love you for it.
Sell more than one product. Expand your horizons! Determine a complementary product to sell with your main product. Don't be tied to one product line. If you already have your party scheduled, you may as well sell as much product as you can. If you sell makeup or jewelry sell purses to complement your business. If you sell home decor, make your own crafts or use your product line to invent other products to make extra profits. You are in charge. You can do anything you like.
Determine your customers. Will you have a supply of customers beyond FRANK? Friends, Relatives, work Associates, Neighbors and your Kids friends parents. If not, you will find it difficult to keep your business going beyond a few months or a year

There are probably hundreds of other things that people might add. But this should give you a good base to start from.

Send mail to kkapush@PartyManagerSoftware.com with questions or comments about this web site.
Party Manager Software
Last modified: September 20, 2006

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