Digital Marketing For Businesses At Various Price Points

Digital Marketing for Businesses at Various Price Points: A Comprehensive Guide

In today's digital age, marketing has evolved far beyond traditional methods. Whether you’re a startup with a shoestring budget, a mid-sized business looking to expand, or a large enterprise aiming to dominate the market, digital marketing offers a plethora of strategies tailored to different price points. Here’s a guide to help businesses of all sizes navigate the digital marketing landscape effectively.

1. Startups and Small Businesses (Budget: $0 - $1,000/month)

Key Focus: Maximizing Impact with Minimal Resources

For startups and small businesses, every dollar counts. The goal is to achieve maximum visibility and engagement with minimal expenditure. Here are some cost-effective strategies:

a. Social Media Marketing

• Organic Social Media: Utilize platforms like Facebook, Instagram, Twitter, and LinkedIn. Post regularly, engage with your audience, and leverage user-generated content.
• Community Building: Join relevant groups and forums to engage with potential customers and industry peers.

b. Content Marketing

• Blogging: Start a blog to provide valuable content to your audience. Focus on SEO to drive organic traffic.
• Guest Posting: Contribute to other blogs and websites to increase your reach and build backlinks.

c. Email Marketing

• Newsletter Campaigns: Use free tools like Mailchimp (up to a certain number of subscribers) to send regular updates, promotions, and valuable content to your audience.

d. Local SEO

• Google My Business: Ensure your business is listed and optimized. Encourage satisfied customers to leave positive reviews.

2. Mid-Sized Businesses (Budget: $1,000 - $10,000/month)

Key Focus: Scaling Efforts and Expanding Reach

Mid-sized businesses have more resources to invest in digital marketing, allowing for more sophisticated strategies and tools.

a. Paid Advertising

• PPC Campaigns: Invest in Google Ads and Bing Ads to capture high-intent traffic.
• Social Media Ads: Use Facebook Ads, Instagram Ads, and LinkedIn Ads to target specific demographics and interests.

b. Advanced Content Marketing

• In-Depth Articles: Produce comprehensive guides, whitepapers, and case studies.
• Video Content: Create engaging video content for YouTube and social media platforms.

c. Email Marketing Automation

• Segmentation and Personalization: Use tools like Mailchimp, HubSpot, or ActiveCampaign to segment your audience and personalize email content based on user behavior.

d. SEO and SEM

• Keyword Research and Optimization: Invest in tools like SEMrush, Ahrefs, and Moz for advanced keyword research and SEO strategies.
• Content Marketing and Link Building: Partner with industry influencers and bloggers for content marketing and backlinking.

e. Website Optimization

• User Experience (UX): Ensure your website is user-friendly, mobile-responsive, and fast-loading.
• Conversion Rate Optimization (CRO): Use A/B testing to optimize landing pages and improve conversion rates.

3. Large Enterprises (Budget: $10,000+/month)

Key Focus: Dominating the Market and Enhancing Brand Loyalty

Large enterprises have the advantage of substantial budgets, enabling them to leverage the most advanced digital marketing strategies and tools.

a. Omnichannel Marketing

• Integrated Campaigns: Create cohesive campaigns across multiple channels, including social media, email, PPC, and content marketing.
• Data-Driven Strategies: Use advanced analytics and data to drive marketing decisions and personalize customer experiences.

b. Advanced SEO and Content Marketing

• High-Quality Content Production: Invest in professional content creators, videographers, and designers to produce top-notch content.
• Enterprise-Level SEO Tools: Use enterprise-grade tools like BrightEdge or Conductor for comprehensive SEO strategies.

c. Marketing Automation

• CRM Systems: Implement sophisticated CRM systems like Salesforce or HubSpot to manage customer relationships and automate marketing tasks.
• Advanced Email Marketing: Utilize tools like Marketo or Pardot for complex email marketing automation and personalization.

d. Influencer and Affiliate Marketing

• Partnerships with Influencers: Collaborate with high-profile influencers and brand ambassadors to reach a wider audience.
• Affiliate Programs: Develop robust affiliate programs to incentivize partners to promote your products.

e. Innovative Technologies

• AI and Machine Learning: Incorporate AI and machine learning for predictive analytics, chatbots, and personalized marketing.
• AR/VR Experiences: Use augmented and virtual reality to create immersive experiences for your audience.

Conclusion

Digital marketing offers a spectrum of strategies that can be tailored to fit any budget. Whether you’re just starting out or looking to cement your position as a market leader, there’s a digital marketing approach suited for your business. By understanding and leveraging the right tactics for your price point, you can achieve significant growth and build a strong online presence.

Embark on your digital marketing journey today, and remember, it’s not just about how much you spend, but how wisely you spend it.

Digital Marketing Is The Cheapest Way To Achieve Rapid Growth For Your Business

The Power of Digital Marketing: The Fast Track to Business Growth

In today's fast-paced business environment, achieving rapid growth is crucial for success. One of the most effective and cost-efficient ways to scale your business quickly is through digital marketing. However, it's important to remember that marketing, no matter how brilliant, cannot compensate for a subpar product or service. A great product or service forms the foundation of your business, and digital marketing can be the catalyst that propels it to new heights.

The Foundation: A Great Product or Service

Before diving into the intricacies of digital marketing, let's emphasize a fundamental truth: your business must offer a great product or service. The most innovative marketing strategies will fall flat if what you’re offering doesn't meet customer expectations. Quality, reliability, and value are the cornerstones of any successful business. Once you have these in place, you can leverage digital marketing to showcase your offerings to a wider audience and drive growth.

Why Digital Marketing?

Digital marketing stands out as a game-changer in the world of business for several reasons:

1. Cost-Effectiveness: Compared to traditional marketing methods, digital marketing is incredibly cost-effective. You can reach a larger audience with a relatively small budget, making it ideal for businesses of all sizes, especially startups and small enterprises.
2. Targeted Reach: Digital marketing allows you to target your audience with precision. Through tools like Google Ads, Facebook Ads, and Instagram promotions, you can define your audience based on demographics, interests, and behaviors. This ensures your marketing efforts are directed toward those most likely to be interested in your product or service.
3. Measurable Results: One of the biggest advantages of digital marketing is the ability to measure results in real-time. With analytics tools, you can track the performance of your campaigns, understand what works and what doesn't, and make data-driven decisions to optimize your strategies.
4. Flexibility and Adaptability: The digital landscape is dynamic and ever-evolving. This flexibility allows you to adapt your marketing strategies quickly in response to market trends, customer behavior, and feedback. This agility is crucial for staying competitive in a rapidly changing environment.
5. Enhanced Engagement: Digital marketing provides numerous platforms and channels to engage with your audience. Social media, email marketing, content marketing, and search engine optimization (SEO) allow you to interact with customers, build relationships, and foster brand loyalty.

Strategies for Effective Digital Marketing

To harness the full potential of digital marketing, consider incorporating the following strategies into your marketing plan:

1. Search Engine Optimization (SEO): Optimize your website and content to rank higher in search engine results. This increases visibility and drives organic traffic to your site.
2. Content Marketing: Create valuable, relevant content that addresses the needs and interests of your target audience. This could include blog posts, videos, infographics, and ebooks. High-quality content helps establish your brand as an authority in your industry and attracts potential customers.
3. Social Media Marketing: Utilize platforms like Facebook, Instagram, Twitter, and LinkedIn to connect with your audience, share content, and promote your products or services. Social media is also a great tool for engaging with customers and gathering feedback.
4. Email Marketing: Build an email list and send targeted campaigns to nurture leads and retain existing customers. Personalized emails can drive conversions and build long-term customer relationships.
5. Pay-Per-Click (PPC) Advertising: Use PPC campaigns to drive immediate traffic to your website. Platforms like Google Ads and Facebook Ads allow you to create targeted ads that appear in search results and social media feeds, increasing your visibility and attracting potential customers.

Conclusion

Digital marketing is an indispensable tool for achieving rapid growth in today's business landscape. While it is not a substitute for a great product or service, it amplifies the reach and impact of what you offer. By leveraging cost-effective and targeted digital marketing strategies, you can scale your business efficiently and stay ahead of the competition. Focus on delivering excellence through your products or services, and let digital marketing be the vehicle that drives your success.

El Poder del Marketing Digital: El Camino Rápido para el Crecimiento Empresarial

En el entorno empresarial de hoy en día, lograr un crecimiento rápido es crucial para el éxito. Una de las formas más efectivas y rentables de escalar tu negocio rápidamente es a través del marketing digital. Sin embargo, es importante recordar que el marketing, por muy brillante que sea, no puede compensar un producto o servicio mediocre. Un gran producto o servicio forma la base de tu negocio, y el marketing digital puede ser el catalizador que lo lleve a nuevas alturas.

La Base: Un Gran Producto o Servicio

Antes de sumergirnos en las complejidades del marketing digital, resaltemos una verdad fundamental: tu negocio debe ofrecer un gran producto o servicio. Las estrategias de marketing más innovadoras fracasarán si lo que ofreces no cumple con las expectativas del cliente. La calidad, la fiabilidad y el valor son los pilares de cualquier negocio exitoso. Una vez que tengas esto en su lugar, puedes aprovechar el marketing digital para mostrar tus ofertas a una audiencia más amplia y promover el crecimiento.

¿Por Qué el Marketing Digital?

El marketing digital se destaca como un cambio de juego en el mundo de los negocios por varias razones:

1. Rentabilidad: Comparado con los métodos de marketing tradicionales, el marketing digital es increíblemente rentable. Puedes llegar a una audiencia más amplia con un presupuesto relativamente pequeño, lo que lo hace ideal para negocios de todos los tamaños, especialmente startups y pequeñas empresas.
2. Alcance Dirigido: El marketing digital te permite dirigirte a tu audiencia con precisión. A través de herramientas como Google Ads, Facebook Ads y promociones en Instagram, puedes definir tu audiencia en función de demografía, intereses y comportamientos. Esto asegura que tus esfuerzos de marketing se dirijan a aquellos que tienen más probabilidades de estar interesados en tu producto o servicio.
3. Resultados Medibles: Una de las mayores ventajas del marketing digital es la capacidad de medir resultados en tiempo real. Con herramientas analíticas, puedes seguir el rendimiento de tus campañas, entender qué funciona y qué no, y tomar decisiones basadas en datos para optimizar tus estrategias.
4. Flexibilidad y Adaptabilidad: El panorama digital es dinámico y en constante evolución. Esta flexibilidad te permite adaptar tus estrategias de marketing rápidamente en respuesta a tendencias del mercado, comportamiento del cliente y retroalimentación. Esta agilidad es crucial para mantenerse competitivo en un entorno que cambia rápidamente.
5. Mayor Compromiso: El marketing digital proporciona numerosas plataformas y canales para interactuar con tu audiencia. Las redes sociales, el email marketing, el marketing de contenidos y la optimización de motores de búsqueda (SEO) te permiten interactuar con los clientes, construir relaciones y fomentar la lealtad a la marca.

Estrategias para un Marketing Digital Efectivo

Para aprovechar todo el potencial del marketing digital, considera incorporar las siguientes estrategias en tu plan de marketing:

1. Optimización de Motores de Búsqueda (SEO): Optimiza tu sitio web y contenido para que ocupen un lugar más alto en los resultados de los motores de búsqueda. Esto aumenta la visibilidad y dirige tráfico orgánico a tu sitio.
2. Marketing de Contenidos: Crea contenido valioso y relevante que aborde las necesidades e intereses de tu audiencia objetivo. Esto podría incluir publicaciones en blogs, videos, infografías y libros electrónicos. El contenido de alta calidad ayuda a establecer tu marca como una autoridad en tu industria y atrae a posibles clientes.
3. Marketing en Redes Sociales: Utiliza plataformas como Facebook, Instagram, Twitter y LinkedIn para conectar con tu audiencia, compartir contenido y promocionar tus productos o servicios. Las redes sociales también son una excelente herramienta para interactuar con los clientes y recopilar retroalimentación.
4. Email Marketing: Construye una lista de correos electrónicos y envía campañas dirigidas para nutrir prospectos y retener a los clientes existentes. Los correos electrónicos personalizados pueden impulsar las conversiones y construir relaciones a largo plazo con los clientes.
5. Publicidad de Pago por Clic (PPC): Utiliza campañas PPC para dirigir tráfico inmediato a tu sitio web. Plataformas como Google Ads y Facebook Ads te permiten crear anuncios dirigidos que aparecen en los resultados de búsqueda y en los feeds de redes sociales, aumentando tu visibilidad y atrayendo a posibles clientes.

Conclusión

El marketing digital es una herramienta indispensable para lograr un crecimiento rápido en el panorama empresarial actual. Si bien no es un sustituto para un gran producto o servicio, amplifica el alcance y el impacto de lo que ofreces. Al aprovechar estrategias de marketing digital rentables y dirigidas, puedes escalar tu negocio de manera eficiente y mantenerte por delante de la competencia. Enfócate en entregar excelencia a través de tus productos o servicios, y deja que el marketing digital sea el vehículo que impulse tu éxito.

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Digital Marketing Is The Cheapest Way To Achieve Rapid Growth For Your Business #DigitalMarketing #OnlineAdvertising #SocialMediaStrategy #SEO #ContentMarketing #EmailCampaigns #PPC #InfluencerMarketing #DataAnalytics #BrandAwareness pic.twitter.com/ygmkkbquBE

— Paramendra Kumar Bhagat (@paramendra) July 1, 2024

@paramendrakumarbhagat Digital Marketing Is The Cheapest Way To Achieve Rapid Growth For Your Business #DigitalMarketing #OnlineAdvertising #SocialMediaStrategy #SEO #ContentMarketing #EmailCampaigns #PPC #InfluencerMarketing #DataAnalytics #BrandAwareness ♬ original sound - Paramendra Kumar Bhagat

How Digital Marketing Can Take Small Businesses to New Heights

In the modern business landscape, digital marketing has emerged as a crucial tool for small businesses aiming to reach new heights. By leveraging digital platforms and strategies, small businesses can enhance their visibility, engage with a broader audience, and compete effectively with larger companies. Below are the key ways digital marketing can transform small businesses.

Increased Online Visibility

• Search Engine Optimization (SEO): By optimizing their websites for search engines, small businesses can improve their rankings on search results pages. This leads to increased organic traffic as potential customers are more likely to discover their products or services.
• Local SEO: Focusing on local SEO helps small businesses attract customers from their immediate geographical area. This is particularly beneficial for brick-and-mortar stores that rely on local patronage.

Cost-Effective Marketing

• Social Media Marketing: Platforms like Facebook, Instagram, Twitter, and LinkedIn offer affordable advertising options that allow small businesses to target specific demographics. This precise targeting ensures that marketing efforts reach the most relevant audiences.
• Content Marketing: Creating and sharing valuable content helps establish a business as an authority in its industry. Blog posts, videos, infographics, and podcasts can attract and retain a clearly defined audience, driving profitable customer action.

Enhanced Customer Engagement

• Email Marketing: By building an email list, small businesses can maintain direct communication with their customers. Personalized email campaigns can promote products, announce sales, and share company news, fostering a strong customer relationship.
• Social Media Interaction: Engaging with customers on social media platforms allows businesses to respond to inquiries, address concerns, and gather feedback in real-time. This interaction can build a loyal customer base and enhance brand reputation.

Measurable Results

• Analytics Tools: Digital marketing provides access to a plethora of analytics tools that offer insights into customer behavior and campaign performance. Tools like Google Analytics, Facebook Insights, and email marketing metrics enable businesses to track ROI and refine their strategies.
• Data-Driven Decisions: By analyzing data, small businesses can make informed decisions about where to allocate their marketing budget, which strategies to continue, and which to abandon.

Competitive Edge

• Brand Awareness: A strong online presence can distinguish small businesses from their competitors. Consistent branding across digital channels helps build recognition and trust among potential customers.
• Agility and Adaptability: Digital marketing allows small businesses to quickly adjust their strategies based on market trends and consumer behavior. This agility can provide a significant advantage over larger, less nimble competitors.

Targeted Advertising

• Pay-Per-Click (PPC) Advertising: PPC campaigns on platforms like Google Ads enable businesses to target specific keywords relevant to their products or services. This ensures that ads are shown to individuals actively searching for what the business offers.
• Retargeting: Retargeting campaigns can remind previous website visitors of products they viewed but didn’t purchase, increasing the chances of conversion.

Global Reach

• E-commerce Integration: Digital marketing enables small businesses to reach customers beyond their local area. E-commerce platforms and international shipping options open up a global market, significantly expanding the customer base.
• Multilingual Marketing: Creating content in multiple languages can attract a diverse audience from different regions, further broadening market reach.

Building Customer Loyalty

• Loyalty Programs: Digital platforms can facilitate the creation of customer loyalty programs that reward repeat customers, encouraging ongoing engagement and purchases.
• Community Building: Online communities, such as social media groups and forums, allow businesses to create a sense of belonging among their customers, fostering loyalty and advocacy.

Conclusion

Digital marketing offers small businesses a powerful toolkit to enhance their visibility, engage with customers, and compete effectively in the marketplace. By adopting a strategic approach to digital marketing, small businesses can not only survive but thrive in the competitive business environment. Embracing these digital opportunities is essential for any small business aiming to reach new heights in the digital age.

Cómo el Marketing Digital Puede Llevar a las Pequeñas Empresas a Nuevas Alturas

En el panorama empresarial moderno, el marketing digital ha emergido como una herramienta crucial para las pequeñas empresas que buscan alcanzar nuevas alturas. Al aprovechar las plataformas y estrategias digitales, las pequeñas empresas pueden mejorar su visibilidad, involucrar a una audiencia más amplia y competir efectivamente con empresas más grandes. A continuación se presentan las formas clave en que el marketing digital puede transformar a las pequeñas empresas.

Mayor Visibilidad en Línea

• Optimización para Motores de Búsqueda (SEO): Al optimizar sus sitios web para los motores de búsqueda, las pequeñas empresas pueden mejorar su clasificación en las páginas de resultados de búsqueda. Esto conduce a un aumento del tráfico orgánico, ya que es más probable que los clientes potenciales descubran sus productos o servicios.
• SEO Local: Focalizarse en el SEO local ayuda a las pequeñas empresas a atraer clientes de su área geográfica inmediata. Esto es particularmente beneficioso para las tiendas físicas que dependen del patrocinio local.

Marketing Rentable

• Marketing en Redes Sociales: Plataformas como Facebook, Instagram, Twitter y LinkedIn ofrecen opciones publicitarias asequibles que permiten a las pequeñas empresas dirigirse a demografías específicas. Esta segmentación precisa asegura que los esfuerzos de marketing lleguen a las audiencias más relevantes.
• Marketing de Contenidos: Crear y compartir contenido valioso ayuda a establecer a una empresa como una autoridad en su industria. Publicaciones de blog, videos, infografías y podcasts pueden atraer y retener una audiencia claramente definida, impulsando acciones rentables de los clientes.

Mejora del Compromiso con el Cliente

• Email Marketing: Al construir una lista de correo electrónico, las pequeñas empresas pueden mantener una comunicación directa con sus clientes. Las campañas de correo electrónico personalizadas pueden promover productos, anunciar ventas y compartir noticias de la empresa, fomentando una relación sólida con el cliente.
• Interacción en Redes Sociales: Involucrarse con los clientes en las plataformas de redes sociales permite a las empresas responder a consultas, abordar preocupaciones y recopilar comentarios en tiempo real. Esta interacción puede construir una base de clientes leales y mejorar la reputación de la marca.

Resultados Medibles

• Herramientas de Análisis: El marketing digital proporciona acceso a una multitud de herramientas de análisis que ofrecen información sobre el comportamiento del cliente y el rendimiento de las campañas. Herramientas como Google Analytics, Facebook Insights y métricas de marketing por correo electrónico permiten a las empresas rastrear el ROI y refinar sus estrategias.
• Decisiones Basadas en Datos: Al analizar los datos, las pequeñas empresas pueden tomar decisiones informadas sobre dónde asignar su presupuesto de marketing, qué estrategias continuar y cuáles abandonar.

Ventaja Competitiva

• Reconocimiento de Marca: Una fuerte presencia en línea puede distinguir a las pequeñas empresas de sus competidores. La marca consistente a través de canales digitales ayuda a construir reconocimiento y confianza entre los clientes potenciales.
• Agilidad y Adaptabilidad: El marketing digital permite a las pequeñas empresas ajustar rápidamente sus estrategias según las tendencias del mercado y el comportamiento del consumidor. Esta agilidad puede proporcionar una ventaja significativa sobre competidores más grandes y menos ágiles.

Publicidad Dirigida

• Publicidad de Pago por Clic (PPC): Las campañas PPC en plataformas como Google Ads permiten a las empresas dirigirse a palabras clave específicas relevantes para sus productos o servicios. Esto asegura que los anuncios se muestren a individuos que están buscando activamente lo que la empresa ofrece.
• Reorientación: Las campañas de reorientación pueden recordar a los visitantes anteriores del sitio web sobre productos que vieron pero no compraron, aumentando las posibilidades de conversión.

Alcance Global

• Integración de Comercio Electrónico: El marketing digital permite a las pequeñas empresas llegar a clientes más allá de su área local. Las plataformas de comercio electrónico y las opciones de envío internacional abren un mercado global, expandiendo significativamente la base de clientes.
• Marketing Multilingüe: Crear contenido en varios idiomas puede atraer a una audiencia diversa de diferentes regiones, ampliando aún más el alcance del mercado.

Construcción de Lealtad del Cliente

• Programas de Lealtad: Las plataformas digitales pueden facilitar la creación de programas de lealtad para clientes que recompensan a los clientes recurrentes, fomentando el compromiso y las compras continuas.
• Creación de Comunidad: Las comunidades en línea, como los grupos en redes sociales y los foros, permiten a las empresas crear un sentido de pertenencia entre sus clientes, fomentando la lealtad y la defensa de la marca.

Conclusión

El marketing digital ofrece a las pequeñas empresas un conjunto de herramientas poderoso para mejorar su visibilidad, comprometerse con los clientes y competir efectivamente en el mercado. Al adoptar un enfoque estratégico del marketing digital, las pequeñas empresas no solo pueden sobrevivir, sino prosperar en el competitivo entorno empresarial. Aprovechar estas oportunidades digitales es esencial para cualquier pequeña empresa que aspire a alcanzar nuevas alturas en la era digital.

Digital Marketing Can Take Small Businesses to New Heights #DigitalMarketing #OnlineAdvertising #SocialMediaStrategy #SEO #ContentMarketing #EmailCampaigns #PPC #InfluencerMarketing #DataAnalytics #BrandAwareness pic.twitter.com/jUhmJhvB5o

— Paramendra Kumar Bhagat (@paramendra) July 1, 2024

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@paramendrakumarbhagat Digital Marketing Can Take Small Businesses to New Heights #DigitalMarketing #OnlineAdvertising #SocialMediaStrategy #SEO #ContentMarketing #EmailCampaigns #PPC #InfluencerMarketing #DataAnalytics #BrandAwareness ♬ original sound - Paramendra Kumar Bhagat

Tech Entrepreneurship: Public Service By Other Means

Bill and Melinda Gates during their visit to the Oslo Opera House in June 2009. (Photo credit: Wikipedia)

I think of tech entrepreneurship as public service by other means, and I don't mean you make billions to give away (why, thank you Bill Gates!) way.

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The Concept Of Residual Income

Cover of Robert T. Kiyosaki

Cover via Amazon

(written for Vishwa Sandesh)

The Concept Of Residual Income
By Paramendra Bhagat (www.paramendra.com)

There is a famous book called Rich Dad, Poor Dad by Robert Kiyosaki. Most financially literate people have heard of it. In it he pushes forth the concept of residual income, not his original idea. It is a difference in worldview.

There is the job mentality, and that is perhaps 99% of the people out there. You get a good education to get a good job with a good company. The income might be 20,000 dollars or 200,000 dollars, but that income is still linear. If you don’t show up for work, the money stops coming.

Nothing wrong with jobs. Jobs are how most people pay their bills, put food on the table. Jobs are wonderful things, but there is something beyond jobs. One has to be open to possibilities.

There is business ownership. Upendra Mahato might be flying around the world on NRN activities, but he is still making money at that time, because he is a business owner. Nobody says, but he did not even show up for work, let’s stop paying him. Why? Because he built something and put it into motion.

But then Upendra Mahato might be a bad example with which to highlight the concept. Because pretty much everybody would dismiss that example. How many Laxmi Mittals can the planet produce? Only so many. Even launching a restaurant with an initial investment of 200,000 dollars is beyond the reach of many people.

But then you might have seen small business owners who quite literally are always working. That can also put off some people. Where is the residual income in that, you might question. Also, it is not easy to start a business, it is not easy to sustain and grow a business, it is not easy to keep the lights on. A lot of businesses end up folding. People with the job mentality point that out. But look, they say.

Residual income is money showing up even if you don’t show up, because you built something and put it in motion. Residual income is you making money even when you are fast asleep because you put something in place and put it in motion. Residual income is being able to pass a business to your next generation. You can’t pass on your job to your son or daughter.

With a job you have only 24 hours, and chances are you are working eight, 10 or maybe 12 of those hours, some even manage 16. But it can never be beyond 24. That probably is the biggest limitation of linear income. Also, one person can acquire only so many skills. One person can only become so good with the skills he or she has.

But if you build a business team that has 10 people on it, you have 240 hours in a work day. If your average team member puts in 10 hours, you have a 100 hour work day. Chances are 10 people will make more money than one person. And 10 might not be your ceiling. Maybe you will take your team to 100, to 1,000, perhaps to 10,000. A job owner’s hours in the day are limited. But there is no limitation to how big a business owner’s team can be. And the 10 people on your team might have complimentary skill sets. Person A can do what person B cannot or does not have the time for.

Beyond residual income is a related concept: the concept of financial freedom. You have attained financial freedom when there is no longer a connection between what you do with your time and the money you make. You could be playing golf and still be making money. You go on vacation whenever you want, as often as you want. You spend a ton of time with your family, because that does not hurt your income stream anymore. Business ownership does not guarantee you financial freedom, but it is a vehicle that can take you there if you work hard and smart.

I feel like everyone who makes that conceptual jump and understands the residual income idea will go ahead and get started with network marketing. Robert Kiyosaki is a huge fan of network marketing. It beats job ownership, he says, and it beats small business ownership. But it has been amazing to me to see how easy it is to misunderstand this very simple business. People’s minds fly off on tangents. To many people to go from a job ownership mentality to a business ownership mentality is almost like changing religions. There is this huge inertia. They resist. They fight back. They come up with excuses. They rationalize their choices. You mean all that schooling I did was a waste? No, it was not.

Every time you watch an ad anywhere for products you buy and services you consume, know that you are paying for those. You just don’t see it that way. All network marketing does is it takes all that ad spend and give it to people like you who build a network to generate business volume. That is a hugely empowering concept. Sometimes I wonder if it took 10,000 dollars instead of 500 more people would do it, more people would take it seriously.

Those good at it have bothered to put in the effort to go through tremendous personal growth. I know someone who after a year of work is making 10,000 dollars a week. He has a good year every month.

With Patrick Maser And Rahman
The Appeal Of Network Marketing

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The Appeal Of Network Marketing

(written for Vishwa Sandesh)

The Appeal Of Network Marketing
By Paramendra Bhagat (www.paramendra.com)

I signed up for network marketing not long back. I don’t plan to quit doing the other things I am doing – tech consulting, my tech startup idea, my interest in Nepal hydro – but I am so glad I signed up. I once delved into it before I moved to New York City in 2005. I liked the business model, but I was on the road too much at the time to put in any serious effort. I was already familiar with the business model and a believer. What struck me this time was the products and services were things people were already using. There was this potential for mass appeal.

Traditional companies and distribution networks spend a ton of money on advertising. Network marketing companies do not spend on advertising. Instead they give that money to the marketers in their network. It is not a scam. It is a legitimate business model. Compare the million dollars you need to launch a McDonald’s franchise to the 500 dollars I had to put in to get started. That is a no brainer. This might be the only shot most people might have at business ownership.

There is hard work involved. This is not easy money. Many people sign up and quit because they thought it was effortless and it is not. And it does work. On October 3 Michael Maser showed up at my house. He flew in from Miami just for the event. He is my upline Senior Vice President, the top achievement in the business. He has been at it for 12 years now. He started part time. Then he quit his job once his income from the business matched his income from his job. Now he makes close to 80,000 dollars a week from the business. I saw those figures on his iPad. My most famous local upline is a Bangladeshi guy called Rahman: a bundle of energy and determination. Rahman signed up and made 150,000 dollars in his first four months. You might have seen Santanu at the TD Bank. He currently makes 8,000 dollars a month from the business.

Maser might make a few million a year, but that is not a billion. This is not a billion dollar idea for those who sign up, although it is for the founders of the company. A successful tech startup might be a billion dollar idea. But a million dollars is a lot of money. Less than 5% of Americans make more than 100,000 dollars a year. Rahman made 175,000 dollars in the past six months alone. The dude was driving a cab when he signed up, although he did have a calling card business on the side, which he still operates.

People sign up, go to an event, get excited, and then they go approach a few people and the force of rejection hits them so hard they either lose steam, or quit. The thing is you are not trying to convince people. Prequalifying is important. That way you reject them. They don’t reject you. You ask a set of prequalifying questions. Unless they prequalify, you don’t even bring up the topic. Once they prequalify, you bring it up the right away. And then you are ready for their answer: yes or no.

The support system is a tremendous aspect of the business. You are an independent business owner, but you are not on your own. Your uplines are so willing to go out of the way for you. Michael Maser showed up at my house before I had signed up my first person. Why would he do that? He would do that because he is part of a tremendous support system.

This is not for everybody, but it is for many more people than those that have already signed up. One speaker said, go find the PHDs: poor, hungry, driven people. Or go sign up business owners, people who are already striving to make a buck or two.

More than 99% of the people out there work jobs. Business ownership can feel like a leap of faith. It always strikes me how easy it is to misunderstand this very simple business. The mind keeps flying off of tangents for many new signups. Think about it, if the company is the same, the product and services are the same, and it is the same support system, it has got to be you. You are the reason why it is not working for you. You can become an Independent Business Owner for 500 dollars. But unless you are committed to being a team player and someone who seeks to go through tremendous personal growth, you might not make it. Most people fail because they give up. Most people fail because they do not make use of the support system. You plug into the system, and you plug your downlines into the system. And you learn. You soak it up every step of the way. Speakers get up to speak. You take notes.

Santanu who makes 8,000 dollars a month only signed up five people. He now has 800 people in his network and 18,000 customers. Those five people brought people who brought people who brought people. And all that happened in 12 months. You get the idea.

Some people first sign up as customers. Later they might or might not end up being Independent Business Owners. That is also a nice route to take.

To learn more go to http://bit.ly/1dndWg2

Photo Album: ACN: Saturday: Hotel Pennsylvania
Photo Album: ACN: Michael Maser At My Woodside Home
Relationship Marketing: The ACN Way: An Overview

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