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Even the Best Home Based Business
Does NOT Require a Big Budget
In fact, not only do you NOT need a big budget to build even the best home based business, having a big budget may actually hurt you! You see, more people attempt to buy their way to success…and that flies against the entire concept of a network marketing business opportunity. In this blog I am going to share the reasons why you should NOT have a large budget when it comes to building your business EVEN IF YOU HAVE MONEY!
Why Spending Lots Of Money ISN’T a Good Idea
Can you guess the number one reason why you should NOT spend a lot of money? Because it is NOT duplicatable and THAT is the whole reason to do a network marketing business opportunity. If you have to spend a ton of money to work the business, so will the people you bring in and your success is highly unlikely. However, if you are able to build your business WITHOUT spending a lot of money, you have a formula for duplication.
Sometimes the WORST thing to have….is a big budget
I used to have a really big budget when I was marketing real estate. I did every type of marketing you could possibly imagine. I was running $8,000 a month magazine ads, dropping thousands a month into postcards, advertising on pharmacy bags, football stadium seat cushions, heck, I even bought a used Uhaul truck and had it painted and vinyl lettered up. I spent way too much money on way too many things that simply did not work. It is much better and smarter to be lean and nimble. This is ESPECIALLY true for a homebased business.
Bad Postcards…
Here is a very true story that just happened a few months ago. There was a lady in my organization that sent out 2,000 postcards and had 25 people sign up! Now, when people join our company as executives and get their executive package, the company pays out $100. She made bank! It was awesome! So…what did her 25 people do? Well, of course, they did what brought them in so each of them sent out 2,000 postcards. 50,000 postcards went out, the same postcards that netted the 25, this was going to be awesome! The results…out of 50,000 postcards that went out, not one person joined. Since then almost every one of those 25 that joined as quit. A lot of times we may get lucky with an approach but if it doesn’t have the ability to be duplicated, it will not stand the test of time.
The Most Result Getting Activity Does Not Cost Anything
When people tell me they don’t have much money to market, do you know what I tell them? I respond with “Awesome”! If you have a complete lack of money, well, I hope that you are motivated to make some! (unfortunately, that is NOT always the case) The most result getting activity is free…prospecting. What do you do if you don’t have money? Prospect. What do you do if you need fast money? Prospect. If you don’t have time for your “attraction marketing system” to kick in before you make money? Prospect. You see, if you get better at prospecting you can make money immediately and it will make any amount of money that you do spend, that much more effective. If you are scared of prospecting, simply buying leads is NOT going to help you that much anyway. Get comfortable with getting uncomfortable, pick up that 800 pound phone and make some money already! And, what is cool about prospecting without spending a ton of money is, when you succeed, you can tell all your new recruits the real way to succeed and grow the best home based business possible regardless of their lack of a budget.
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Ray Higdon
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This is a great post! You hear all the time ‘it takes money to make money’. This is a reminder to keep it simple. It’s not always easy, but it IS simple.
I agree %100 percent with this post. All having a huge advertising budget did for me in the past was get me into a huge amount debt. Then you have all that added pressure of digging yourself out of a hole and all it does is cause stress and headaches. Keep it simple. Don’t get in way over your head with debt and keep plugging away.
Thanks Ray
You hit the nail on the head again!
Spot on Ray. As anyone who has be around even the briefest time knows personalities cannot be duplicated. However systems can be (whatever that may be). Develop a simple ‘system’ that even the most novice newbie can ‘duplicate’ AND afford and you will create a virtual kaching machine. As a friend of mine once put it, “make sure you make yourself Xeroxable”.
Awesome Ray.. love ya to death for the awesome content you give for free. but then just like that great law of the universe it comes back to ya a hundred fold doesn’t it??
yours,
David
funny you say that Ray thats what I told one of the leaders for Numis when I found out his co-op would cost almost $1000 a month, I said thats not duplicatable, however he didn’t agree with me
That is an excellent post.. A must read!
To be successful you must pick up the phone, I like the fact that I had very little money when I started in Network marketing. It just makes for that much of a better success story! Nobody wants to heard about the rich guy who got richier , but everbody wants to hear the underdog story:)
Cheers Ray , another great post!
Exactly what we learned in old school Amway Ray.
The question my upline would ask….”Is it duplicatable?”
I did though spend time to set up online.
I wanted that extra leverage.
But I realize that ALL METHODS THAT ARE DUPLICATABLE
MUST BE USED.This really is misunderstood and
your story tells why very well.
Really solid post Ray with simple but POWERFUL value. Building on a mini budget should be every new network marketer’s DNA. I know I’ve wasted so much money in the past on some half-baked ad campaigns before. LOL
Excellent post Ray. If someone already has money and then became a top gun marketer then that doesn’t make for a powerful story. Get someone with just enough to buy into an MLM program, with a lot of faith and getting the work done. That’s a powerful testimony most people will not forget. It’s a story most people can resonate with.
Right on – thanks for posting this because anyone being introduced to any network marketing opportunity should be made aware of this, rather than advised to spend money that they don’t have, getting stressed and paralyzed over it.
AWESOME RAY!!! I was looking at a couple other opportunities before joining you in Numis and the original attraction was that I could pay and plug into their paid marketing system and it would do all the work for me – Your right – That goes against fundamental laws of building a solid business (Especially a relationship type business. How can you build solid relationships without talking to people? 😉 Thanks for keeping us pointed in the right direction and watching our backs. You Da Man!!!
Coach Curtis
I would think nothing less than outstanding reading your posts and once again you proved me right.
Wow Ray, I have to hand it to you, there aren’t many well known network marketers out there that are willing to post something like this. I 100% agree with you though; having a big budget CAN go against you and I’ve experienced it myself in the past… you sign up for an opportunity, have a good amount of cash to use for marketing, then what seems like “marketing budget freedom” goes to your head and you end up spending most if not all of that “big budget” on all of the “latest and greatest” that claims to help you make sales, get prospects/leads, etc… it almost makes you lazy to a point. At least when you have a small budget (or even nothing) you should be willing to work that much harder at finding out what works so like you said, when you do start making the money, it’ll be that much more effective, as well as worth it for you down the line…
This is a good post and I need to get a cheap website and some expensive gold and some help to fix my brain.
I was told in my last class I was not being coach able. I could not find a single word on how to be coached. They should have offered me the class; “Leaning How To Be Coached”, first, instead of insulting my intelligence.
I now have the ability to put in a request on how they may improve their education center and I learned it here,
“In The Now Education Center” which is Numis.
Thank you, thank you, thank you, Ray and All of You!
Being coachable is mandatory for success.
You nailed it, not easy, but simple
Yep, I didn’t have a budget when I started, HAD to make it happen!
Ditto Nick!
Yes Sir Nicholas!
Me too, me too!
You got it David!
Protect the money of your reps!
Some small business owners dont even spend $1000 a month in advertising, definitely not duplicatable
You got it coach!
Thanks Blaine!
PLay with profit if you want to, but don’t speculate large amounts of money
Truth is the Truth.
I love what we have going on here at Numis for several reasons. For one we are COMPLETELY different from every other company out there in almost every single way.
We have a different product, a different comp plan, and most importantly we have a “different” set of leaders like Ray here that wants his team to keep everything cheap and simple.
Most leaders want you to buy ALL of their expensive courses (which I think can be a good thing because knowledge is power) but at the same time it takes away your focus at just sponsoring and helping your team duplicate.
In my opinion that is why Ray hit it on the head when he said having a big budget can actually lead to failure not only because it does not duplicate but certain things you spend your budget on can actually distract you from your success.
Hi Ray,
I simply love your plain and clear words. Having no money is an excuse, and spending tons of money on marketing an awesome way to avoid to do uncomfortable things.
Thanks for sharing your experiences.
Take care
Oliver
Hello Ray, Another awesome post. You sure put everything in its place. Thanks for your leadership, Andrew Gallop
I find that there are two ways to approach a problem. One is to throw money at it and the other is to be creative. The two approaches are mutually exclusive because the first buys the second. You pay someone to do your thinking for you because thinking is creating. Good post Ray. I hear the voice of experience in what you express. Thank you
Awesome post Ray. No wonder you have people that want to follow you. I come back to your website over and over for your training. Thank you.
Another great post Ray. It really amaze me how some of my prospect have this mentality that you need to be rich to make this business work.
I agree LunSundra. (Simplicity + System) x Action = Duplication
The formula for SUCCESS.
Xeroable sound like in going to be in a dictionary soon. Like bling bling 🙂
Your right about that Nelson that gave me an idea. If your going to making yourself. The best thing to highlight is your personal story. Painting the picture that people can relate to.