Way back in the last century (1991, actually) my research firm,
MarketWave, Inc., conducted a survey that included over 6,000 people who
were not, nor had ever been business owners. The question was a simple
one: If all obstacles were removed, would you like to own your own
business? In other words, if whatever was stopping you from starting a
business didn’t exist, would you at least attempt it? Basically, would
you prefer to be an entrepreneur or an employee? Eighty five percent
said, yes, they’d prefer to work for themselves.
That means 15% misunderstood the question on the survey. After all, if
whatever concerned you enough to keep you from attempting a business
venture didn’t exist, then you’d have no fear of doing so. I mean, who
wouldn’t want to be in control of their own life–have the freedom to
make their own decisions, work their own hours, and write their own
paycheck? Even using the conservative 85% figure, that would mean about
200 million Americans want to start their own business, but have never
even attempted it! We thought there must be some pretty compelling
reasons, so we set out to find out what they were. To no one’s surprise,
it was never about preferring to work for someone else’s business, but
rather the incapacitating fear of starting their own.
And it proved to be the same four fears, every single time:
1. It takes too much money. They didn’t have
tens-of-thousands, or hundreds-of-thousands of dollars to invest in a
business (and they didn’t know anyone else who did).
2. It takes too much time. They didn’t want to work 80 hours a weeks for the first year or two to get their business going.
3. There’s too much risk. Over 56% of all businesses fail in the first two years, and they’d have to quit their job, so there was no safety net.
4. Don’t know how. They’d never taken any
business courses. They had no business experience. They don’t know
anything about taxes, accounting, marketing, and the myriad of other
skills a good entrepreneur must possess.
Not all responded with all four objections, although most responded with
more than one. Surprisingly, “I don’t know how,” was the most common
response. A lot of folks said they wished they had taken the plunge
earlier in their lives, but they just weren’t the mavericks they once
were. They had a mortgage to pay and a family to feed. They felt it was too late.
Now comes the fun part. Would you ever consider going into business for yourself if:
- The total start-up costs were under $500?
- The total time investment could be as little as 5-15 hours a week?
- You could continue to work in your present job until the income from
your business was sufficient to earn you at least an equal income, so
there is little risk?
- Best of all, there were numerous consultants available to you who
are experts at running this business, who would train and advise you
personally for an unlimited number of hours for the entire life of your
business, absolutely free?
- There was another company that would take care of all your research
and development, labeling, inventory, shipping, payroll, payroll and
sales taxes, most legal questions, and so on. And, this company would do
this for you every month, for the life of your business, for around,
oh, $25.00 a year?
Right now, you’re probably remembering the old adage, “If it sounds too
good to be true…” Fine. But, hypothetically, would you consider it if
all this were true? “Well, sure…” You’re probably thinking, “But,
there’s got to be a catch!” Not only is there no catch, I didn’t even
hype the pitch one iota. These are exactly the conditions under which
thousands of successful network marketing ventures have begun.
Sure, some overly zealous networkers may tell you how rich you’re going
to get, how easy it is, and how fast it will happen. Please note, I
didn’t say that! Network marketing is a serious business, no less than
any other you might consider earning your living at for the rest of your
life. The reality is, network marketing is hard work, it takes time,
and you’ll probably lose some money in the beginning. The difference is:
- Most of the hardest work is done by someone else.
- Your work is done when you choose to do it.
- It typically takes a few months to turn a profit (some accomplish
this in the first month) rather than a few years, and what amount you
might lose at first has one, two, maybe even three fewer digits compared
to the start-up losses of most conventional businesses. Yet, you can
still reap the tax benefits of operating your own business, and you have
just as much, if not more income potential as most conventional
businesses!
Imagine becoming financially independent in one to three years without
having to spend thousands of dollars each month, without having to work
long hours seven days a week, without even having to quit your job
during the development stage, and without having to get a business
degree or hire someone who has one. If you are considering starting your
own business, and you’ve got access to, let’s say, $50,000 in start-up
funds (a very modest assumption), imagine how profitable you could be,
and how quickly, if you didn’t have to hire employees; you didn’t have
to lease an office and/or store front and/or warehouse; you didn’t have
to pay sales or payroll taxes; you didn’t have to spend one penny on
R&D, graphics design, or development of promotional material; and
you didn’t have to hire an accountant, lawyer, or business consultant.
And, imagine how much more money might go into your pocket if you didn’t
need business partners to help you finance and run the business. Think
about it, and try not to become giddy.
Now, here’s the really fun part. Imagine buying a McDonald’s franchise
for the modest sum of one million dollars. The business fails. You call
up McDonald’s corporate and ask for a “Return Authorization Number” so
you can get your franchise fee back along with a reimbursement check for
your unsold supplies and stock. While imagining this scene, also
imagine the sound of sirens wailing in the background. That would either
be the paramedics coming to assist the poor corporate officer who
you’ve just induced into a fit of hysterics or an ambulance coming to
take you to a really nice, soft room.
In network marketing, not only is this not an absurd scenario, it’s the
law! One of the aspects of a legitimate, legal network marketing company
is the ability of a failed distributor to get a full refund (usually
less a 10% restocking and processing fee) on all product and marketing
material that is in resalable condition. So, if pursued conservatively
and intelligently, there is a monumental reduction in risk relative to
conventional business start-ups, yet with a comparable or even greater
profit opportunity.
Those of you who are already actively involved in network marketing, be
aware that the vast majority of your “outer circle” prospects (those
who’ve never been involved in network marketing) do have at least the
desire to own their own business as opposed to working for someone else.
You don’t have to talk them into the benefits of something they’re
already dreaming about having. But, they also have some very powerful,
legitimate fears about starting their own business. You’ve first got to
open their mind to the idea that there is still a realistic way to
achieve that dream, and then define, or perhaps defend, the concept of
network marketing (gratuitous plug: my Case Closed cassette
tape is designed to accomplish both of these steps for you). Only then
should you introduce the benefits of your particular network marketing
program.
Think of it like this: before you can pour fresh, hot coffee into a
thermos, you must first open it, and then pour the old, stale coffee
out, right? Think of your business-phobic prospect as a sealed thermos
full of cold coffee.
Now, if you are considering starting your own business, or you want to
but have always been apprehensive, open your own mind to network
marketing. Think it’s too good to be true? I challenge you–find the
catch! If you’ve never pursued a network marketing venture, it must be
for one of two reasons: 1) you just didn’t know about it, or 2) you have
a prejudice against it. And that’s exactly what it is, a prejudice. You
have prejudged this business based on what someone else has told you
about it (usually someone who has failed at it, or who has also never
been involved themselves). In other words, you’ve chosen to adopt
someone else’s opinion of this business. Don’t let other people do your
thinking for you. Make your own decision based on your own evaluation.
Check this business out. Really put forth your due-diligence. And when
you are done, I would defy anyone, even the most devout skeptic, to not
experience a significant paradigm shift. I dare you to look and not be
intrigued!
- See more
2. LinkedIn
3. Manta
4. Business.com
5. Yelp
6. Citysearch.com
7. Superpages.com
8. Yext.com
9. Google Places for Business
10. Hoovers
