Investing Back Into Your Business
One of the questions I get fairly often once people start seeing checks come in the mail from their network marketing company, is “how much should I be investing back into my business?”
First off I should say that I love that fact that I get this question! It means that more and more people are realizing that network marketing should be treated like a business if you want to reach the higher levels of income!
Today I want to give you a couple insights and ideas for things worth investing your time, money and resources into as you build your MLM business.
1. Invest back in yourself – Personal development!
Without a doubt your most valuable asset in your business is yourself. You should invest both time and money into improving yours skills through books, events, courses etc…
2. Invest time into your team
Your next most valuable asset is your team and customers. Make sure that you’re investing the time and leveraging systems in order to truly take care of your customers, lead weekly team calls, run monthly trainings etc…
3. Investing money back into your team
I recommend that you set aside a specific percentage of your earnings each month to invest back into your business. Obviously this amount is going to vary depending on your circumstances. I recommend that if you can that you plan on rolling all of your profits back in for at least the first year and continue to invest a healthy percentage after.
Without a doubt your best investment in your team is going to be in things that will help build their belief and skills, aka company events, books, training etc…
This investment might be in incentives, books, helping team members get to events, promotions, sign up incentives, business tools (like a good laptop and phone), and traveling to support new areas and teams.
4. Invest in product
Having extra product is SUPER important. Make sure that you always have extra product for incentives, gifts, giveaways, recognition, samples etc…
When investing back into your business, make sure that you are wise, but that you also treat this as a business. Be willing to invest more than just your monthly autoship order. This skill and discipline can drastically increase your rate of success. =)
If you haven’t already, make sure to download and listen to my free audio training: