Tips for Starting Your Home Based Business
Starting a home-based distribution business carries a unique set of pros and cons. Direct sales companies often choose to work with distributors in order to physically access a market base. As a home-based distributor, however, you have a few hurdles to work with, such as lack of sales skills to close deals. Being a new distributor on the block will make it difficult for you to find direct sales companies and for them to find you due to the lack of brand awareness and network connections. Here are four tips on how to overcome these hurdles and build a successful distribution company.
Know the Market
Currently, the US multi-level marketing industry is joined by 99.6 percent of direct sellers. More importantly, 97.1 percent of sales generated came from direct sellers who used MLM campaigns. The industry of MLM distribution involves aggressive buying and selling tactics. One with sharp negotiation skills, sales abilities, and a knack for telling which product is the next bestseller will ultimately reap a huge chunk of this market. Study the niche or product category you want to start distributing for. Who are the big players? What’s the initial and ongoing expenses like? Who is your ideal customer?
Sharpen Your Entrepreneurial Skills
Any expert in the distribution business will agree to the fact that sales skills are a must-have. A sales background will absolutely help you find direct sales companies to partner with. In addition to being a people-person, you’ll also want to brush up on your operational skills including know-how in finance and business management. Some experience in these tasks will define how your business is shaped during its formative months. Lastly, be prepared to handle the back-end side of your business operations, which will generally include warehouse setup, packing and shipping, and IT support.
Polish Your Resume
Just like how startups garnish their business to attract investors, you’ll want to spiff up your distribution business to easily attract more direct sales companies. Sit down and vet your credentials and experience. You’ll need this information to set up a contact list of companies whose requirements match your qualifications. Look for weak spots on your prospect’s business that you can help with. It will be easier to find partners if you can immediately give them a reason/s why they should partner with you. It could be anything as simple as more competitive rates or a more sustainable and eco-friendly distribution approach, which can be used by the direct sales company as a marketable quality to boost their brand.
Join a Team
In order to be successful in multi-level marketing, you need to join the right team. Find a leader who not only has advanced industry knowledge, they need to have a proven track record of success. If they are not earning six figures or more, they may not be a good fit for you. Examine the business opportunity and company financials. Look for companies like Kyäni that have a strong history of success and are growing rapidly. Once you found the right business and team, get ready to start working hard to earn the success you deserve.
Ultimately, the success of your distribution business will depend on how proactive you are towards building your contact list and getting products out there for your business. The more hours of hard work you put into it, the faster your business will grow. Of course, any business should be treated as a marathon rather than a sprint. Take the time to build your own skill set and knowledge in the business.