Starting a home-based company, or working from home, really is the best of both worlds for mothers who stay at home; you get to stay at home with your children, while doing something of interest to you and earning extra money. Working from home not only provides you with those additional earnings, it is a way to keep you intellectually stimulated while giving you a justified sense of achievement.
With advancements in internet technology, working from home has never been more simple or pragmatic; in fact, self-employed moms are one of the most rapidly rising sectors of the economy.
Making up your mind to work from home is the effortless part; figuring out exactly what to do (that would be profitable) can be a bit more tricky. Recognize what your strengths and talents are and go from there; do something you really enjoy doing and are good at.
If baking is your forte, become a cake decorator or try starting a small bakery out of your home. You can enlist friends and family to help get the word out about your delicious baked goods, a great way to start building a clientele.
Party planning (or freelance consulting) is ideal for creative women with a flair for entertaining; people pay charming party planners top dollar to put together the perfect bash because most do not have the time to do it themselves. You can do it right out of your home and put together anything from anniversary parties to bar mitzvah celebrations to costume balls.
Providing daycare services in your home is a great option because it provides fixed playmates for your own kids. Not to mention, daycare can be a very lucrative business; people will pay good money for a daycare provider they are comfortable leaving their children with.
Here’s an option that most stay-at-home mothers have not thought about: open your own online retail store using drop shipping services. A drop shipper will allow you to choose only the merchandise you want to sell without having to purchase or store any inventory; you order a product from the drop shipper only after a customer has ordered that product online.
Try working as a freelance contractor; it provides you with the flexibility and opportunities necessary to pursue your interests. If you enjoy photography, submit your freelance photographs. If you are a good writing, do freelance writing or copywriting via the internet.
It’s so awesome in so many ways and it has paved the ways for me to just live an awesome lifestyle.
but…..
Jumping into a home business and NOT knowing about the REAL Compensation Strategy will make it seem like your bank has a black hole just sucking down your hard earned commissions… ARRRR
Following is some video’s put together by my friend and teammate Lawrence Tam.
Compensation Strategy Video #1 – 1/2 Tier “Your The Team Effort”
1 Tier Compensation Example
This is where I stared and made a LOT of money… but it’s not all happy and great
Why?
You better be He-Man as your not going to get much love. All traffic needs to be self generated and 2nd tier does help but mostly won’t do much until you hit some crazy numbers well over 500 before you really know if you can duplicate… the mistake I made…
This is a great starting point but the traffic is never going to go viral. Your going to have to do all the heavy lifting and it’s going to be costly if you don’t get your traffic to income down.
Compensation Strategy Video #2 – Binary “Lost Inside”
Ah yes…. the Binary System so many companies have jumped on to.. It has made me money. It has made a lot of people okay money…
But take a look to how many are making money worth staying?
This was one of the hardest things to do… The company didn’t close but the writing was on the wall
If you sponsor your close friend on a “power leg” then you basically make $0 on their monthly autoship and volume productions. If you put them in your paid leg then your going to have shafted them by not giving them the bigger leg. Plus THEY get no real love now because they too have to build their “inner” leg and if your PERSONAL volume doesn’t flow well you just made your friend have to build 2 legs… shaking head
What kind of compensation is there really? Most of the binaries I’ve seen and the 2 I’ve been in do NOT have a car bonus or huge cash bonus until your on top of the comp plan with a huge downline….I’ve hit a lot of higher levels and let’s just say putting in 50+ people personally in a short period of time and I got a piece of paper that said… “thanks”
Look at the corporate emails to see how many people are actually “RANK Advancing”. It’s easy to see. If you have a company that is NOT growing how do you expect to change that trend? Sure early to market is one thing but you better have a better strategy than to rely solely on the compensation strategy to make you win some nice cash kick backs. One of the companies I was in out of the ENTIRE company there were like 25 people in TOTAL that were rank advancing…. Shaking head…
Compensation Strategy Video #3 – Unilevel “Go Wide”
Unilevel Compensation Plan
This is where I started and made a lot of offline money here.
I love this compensation plan except the fact people who sponsor more than #3 people will just go WIDE… yeah.. basically shafting everyone they brought in… Overflow is a very rare occurrence and even more more so once they rank advance.
If it wasn’t for going wide and that you can’t really help people because your trying to go wide to make sure to not “leave people” attached to duds who do nothing… it’s critical you do NOT pair up players to scrubs. It will kill your team atmosphere.
I mean… if this compensation plan could only have a way to put people on a waiting list so you can then pair up people AND have spillover….
Compensation Strategy Video #4 – Unilevel + Matrix + 60 Day Waiting Period “Spill Over Madness”
3 x 3 max. Rest Overflow
The image above is a visual way to see it. See. If you have real over flow in a 3×3 then it’s not longer a real unilevel. The way it’s changed up to allow people at top to send OverFlow volume down in a 60 day window is just magical.
The person at bottom is no longer the short man with the stick. It’s all about performance and if you do your work there will be volume from above waiting to help you get to the “NEXT” level.
See, this compensation strategy is one that lends itself to leveraging people at top to WANT to give you volume as long as you perform and hence the birth of “contesting” for spots and volume.
The psychology behind this is awesome. People want to “win” and what you did is build a winning organization vs one that complains about everything in the worlds.
Go get it done and this compensation strategy will come in to help you.
3×3 but with 60 days to PLACE people
This is just a full blown matrix of 3×3 but i want to just show that people MUST go down and people above are pushing down even though unilevel doesn’t have that… this is why I say it’s a unilevel + matrix
If you noticed… in Video #4 it is Business time…. I took my glasses off. ahhah
To come in and leverage my team, my overflow, my internet marketing groups, my offline training groups, and just to hang out with a cool bunch of people moving to make some “serious” money for the masses… putting $500/month + and a BMW in their drive way…. that my friends is how we are going to help out the middle class.
So what leverage?
I’m the #1 money earner in Empower Network (over $90k in 9 weeks)
#2 all time in leads generated in MLSP
Magnetic Sponsoring Super Affiliate
Have had plenty of $1,000 days while riding a rollercoaster and $10,000 days when on vacation
My sponsor joined Visalus at the same time (Toby and Layla Black) and using traditional offline skills and online marketing principles brought in over 50+ people into our team in 24 hours.
Where do you think people have to go in 60 days? …. Yep… under those who work and move. There is love for all that work… no love for squatters and position hoggers… Just real love for those wanting to change their lives.
See you on the other side and leverage a real compensation strategy that works for you vs against you
Here are 10 tools that no affiliate should be without. The time you’ll save and the extra money you’ll make by letting these machines do the heavy lifting make it worth getting your hands on as many of these as possible!
Free SEO Analysis tool- For a free tool this is an incredibly comprehensive collection of essential market research tools for the affiliate marketer. It lets you fine-tune your on-page SEO with the easy-to-use Page Analysis feature, run an effective PPC campaign with PPC Analysis and spy on your competitors with SEO Analysis! You can also use it to chart your progress over time by keeping track of your ad positions or ranking in the search engine result pages. Trusted Site tool – SEO experts know that backlinks from education or government sites are more valuable than regular links, because search engines trust these types of sites more than others. But how can you get these backlinks? This tool ferrets out.edu and.gov sites, particularly looking for those that allow you to add a backlink to your own site. It even indicates if the backlinks are dofollow or not. SEOmoz toolbox – This collection of basic affiliate tools from one of the kings of the SEO universe will give you a quick insight into either your own or your competitors’ sites, allowing you to identify potential opportunities. Market Strength tool – If you’ve been put off a potential affiliate opportunity because you stressed about competition then this is the tool for you. It analyzes a keyword phrase, taking into account a range of factors to determine how challenging this market really is. This tool can save you hours spent fruitlessly tackling a market that is currently too challenging, or by the same token, ensure you don’t miss any opportunities that might have initially looked too competitive. SeoQuake add-on – This handy add-on for Mozilla Firefox allows you to quickly analyze any website you visit for anything from PageRank to identifying nofollow links, perfect if you’re scouting for backlink opportunities! Term Extractor – You know what keyword phrase you’d like to target for a particular page, but how will the search engines view it? Use this tool to check your pages for keyword density and targeting. The Term Extractor tool analyzes the content of a given page and extracts the terms that appear to be targeted at search engines. AdWords Editor – AdWords Editor is a free Google application for managing your PPC ad campaigns. Use it to download your account, update your campaigns with powerful editing tools, then upload your changes to AdWords. PPC Ad Generator – Writing PPC ads can be a tedious task. Why not take the easy option and get inspiration from the top ads in your niche? With the PPC Ad Generator you just enter a keyword phrase and the tool will display the top ads for that phrase. You then just modify the ads to make them your own – Easy! WordPress.org – Not so much a tool as a powerful website content management system, WordPress.org has a huge number of plugins and themes, many of which are created with affiliate marketers in mind. WordPress can be downloaded for free from WordPress.org. The site also has a wide range of themes to dress up your site and plugins to add functionality to your site – all free of course. Zeadoo Link Manager – Good affiliates keep up with information from a wide range of sources. Bookmarks are a handy invention but what if you’re not at your usual computer or you’re working from your iPhone? Zeadoo lets you store all your bookmarks in one central location that you can access from any computer (or iPhone – it even has its own special iPhone app), share bookmarks with friends and organize them into categories. You’ll never be stuck trying to remembering the link to that great website when you’re over at your friend’s place again!
When comparing marketing with sales and considering how they relate to one another I always think of the medium sized business where I had my first job. The marketing department people were serious and analytical, always busy with statistics and campaigns and meetings. The sales people were breathless, always on the go, always on the phone or going to meet customers, always on the cusp of some enormous deal, some magic sale that would catapult the company’s turnover way over the annual target. As a junior it seemed to me that the marketing people and the sales people were from two different planets. I now know that they were simply two parts of the same continuum.
Marketing can be described as the set of activities that are undertaken in order to generate leads, while selling is the act of turning a prospect a hot lead into a buyer and later a repeat customer. The marketing and sales functions of any organization are glued together by leads. If there are no leads, the two will fall foul of one another. I saw this in that business I was describing earlier. But leads work both ways. The marketing department has to deliver them and the sales department must act upon them to maximum advantage. But leads must first be generated and that is why marketing tends to overwhelm the sales function when the two are discussed.
The various forms that marketing takes are well known because they are so visible. They range from cold canvassing to brand or corporate advertising, through to the more targeted types of marketing such as direct response advertising and referrals, where the particular benefits of the product is explained to the customer. If this is done properly, then qualified prospects will actually approach the sales people for assistance. Sales people love those leads. It is in fact when the sales people take over the communication function that the lead ceases to be a lead and becomes a prospective customer, then a customer and finally a repeat customer.
Actually I have painted a somewhat idealistic picture of the lead relationship between the marketing function and the sales function. It is just not that simple because not all leads are equal. An extremely tiny percentage leads are customers who are ready to buy. Most of them are merely interested in possibly buying at a future date and some are just mildly interested, just browsing. That’s why it is important to have some sort of lead management system so that potential customers can be turned into buyers and buyers can become repeat customers.
All follow up communication should be friendly and informative, definitely not hard sell. The company representative should be regarded as a helpful expert rather than a rabid sales person. Fortunately many of the follow up functions can be automated to take the form of email, direct mail, voice broadcast and fax broadcast. Obviously the lead would be encouraged each time to call directly if they have questions or a ready to buy. The follow up effort is usually a function of the marketing and sales departments combined.
Residual income is income everyone dreams about – recurring income that continues to be paid to you long after your efforts have ended.
It is much different that employment income, where you are paid for a unit of effort. Residual income is different in that it can pay much more than the value of the initial effort, and free up your time so that you can begin to work on additional sources of residual income. That’s what is called multiple streams of income.
Residual income can be created in many different ways.
Here are the most popular methods:
Create a product, and sell it over and over, ideally by using an automated system.
Affiliate program. Usually, for this to be considered residual income, the affiliate program should be selling something that renews, like a subscription or consumable product (so that a single customer can produce an ongoing stream of income for you). Affiliate programs are also called associate programs, or agent agreements.
Create copyright material. This is usually music or writing, and you get residual income in the form of commissions for every unit that is sold.
Compensation models. Some methods of employment do not include an hourly wage. The employer in this case usually works out an arrangement where a share of the profits will be paid to you in exchange for the work you do. This is common in commercial websites where a revenue stream is created – the web developer may be paid a percentage of ongoing revenues rather than paid up front.
Revenue creating assets. Some assets like real estate can produce residual income, by creating situations where rental income is produced. Residual income in real estate can also come from the assignment of property rights, like when oil is discovered and you assign drilling rights to a company in exchange for a percentage of revenues.
Network marketing. Companies that pay you to sell products and recruit others to sell are called network marketing or multi-level marketing companies. In network marketing, the effort is in building a group of others that also sell the product (called a downline), and then receiving residual income based on the sales of everyone in your downline. It is one of the more popular ways to earn residual income, but also one of the riskiest methods, due to problems like poor business plans, non-compliance, and management corruption.
Investments can also be considered residual income when those investments pay recurring income, like an income fund.
Residual income can be a gold mine for you, if you know how to secure a consistent ongoing income stream. While some methods require skills or creativity, other sources of residual income require only knowledge of the opportunity, and by taking advantage of those opportunities, residual income can be created.
Once a residual income source begins to pay, it can become extremely rewarding. Many people who receive residual income begin to actively seek out other methods to receive additional residual income.
Residual income is one of the best ways to achieve time freedom and enjoy the important things in life.
