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Stages of Business
written by Melodieann Whiteley |
If you have been in any kind of business of your own, then you know that it changes as time passes. You will go through stages while you get things up and running and then find your equilibrium. There are typically four stages to the life of any business and what you do during each of them can dramatically impact the life of your business.
The first is the “new business excitement” stage. You have just joined a great opportunity or launched your first product or put up your first site and you are jazzed! You have the best deal out there and you are going to whip the world. You are going to make so much money that no one will even believe you when you tell them. You are full of energy and new ideas and can’t wait to do them all. Unfortunately, that’s the problem at this stage. You may have a tendency to scatter your time and resources among so many different things that nothing gets accomplished and you get discouraged. You are so busy building your business that you forget about the rest of your life. As resources dwindle and energy drops, you begin to worry more and more about your decisions until – you quit, thinking your business idea was a bad one or the network marketing opportunity was just a scam.
Now is the time to focus on gaining acceptance for yourself and your business. Instead of scattering your precious time and resources on a variety of ideas, choose one key area of your business and focus on it. Choose one key niche or target market and go after it with all your efforts.
If you have joined a network marketing business, concentrate on finding customers for your products and team members for your downline. Decide how many prospects you can talk to effectively each day. That’s your goal. If you don’t gain a customer or recruit a team member that day, don’t keep pushing out of desperation. Panic shows! Just set it aside and start fresh tomorrow. And don’t spend all your money buying the videos or trying the products or going to the meetings. You will need to budget for these things while you grow your business.
Stage two is the “dry spell.” You have been working as hard as you can and yet you just aren’t growing you did in the beginning. You have run out of people to tell about your business opportunity. The initial excitement for your product has worn off. Your site just isn’t getting the hits it used to. You’re wondering “does this thing really work?” Don’t panic. This just means it may be time for some changes. Do a little reality check to see if your business is on the right track. Survey your customers and see if they have a new needs that you can meet – profitably, of course! If you are in network marketing, it may be time to stop concentrating on building your own downline and focus on helping your team build their businesses. After all, if they are successfu...
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