Bloggeries Blog

A little knowledge goes a long way

Lyconet – Why Any Budding Entrepreneur Should Try Network Marketing

If you have dreams of one day becoming an entrepreneur then one of the best ways to start is to get involved with a network marketing company such as Lyconet. Network marketing goes by many names from affiliate marketing, multi level marketing and cellular marketing, these are all names for the same thing. The essence of this marketing model is that it offers a multi-tier sales approach which ensures that people at each level can benefit. companies who follow this model are a great option for a budding entrepreneur, and here is why it can be so beneficial.

Side Hustle

When you are working in network marketing there is no need for you to give up our day job and you can easily earn money and make moves in the industry, whilst still working hard to make money for your future investments. This not only provides you with an opportunity to make some extra cash, it gives you the chance to cut your teeth as a business owner without any financial risk.

Practice Building a Team

This is the crux of what network marketing is all about and it is also why it can help you to learn the skills which you need to build a great team. Let’s say that you start working for a company which sells beauty products, first off you will be selling directly either by phone, in person or by running events to showcase the product. This is the first way to earn in with this model. The next step is to build a team who you will train in line with company requirements, and then you will manage them, taking a percentage of what they sell.

The absolute goal here is to be at the top tier, with people underneath you who are running their own teams, and people below them running teams too. If you can achieve this and manage your team well, you can make great commission without having to sell yourself. The key is of course to build a successful team, something which you will need to do as an entrepreneur.

Passive Income

Saving up money for a business idea is not easy which is why it is so crucial that with this model you can both keep your day job, and make a passive income once you have built your team. There are some who are making hundreds of thousands from this model, and working just a couple of hours per day managing their team. If you do this well then even when you are launching your business, you can still be making money, allowing you to give up the day job, focus on your own company and not have to worry about a lack of salary.

If you really have dreams of one day becoming an entrepreneur, this is the model which you need to work within, it will teach you sales, management, finances and discipline, the cornerstones for success in business.

TaxAudit – Reasons Why You Have to Be Organized In Business

Two years ago I got the fight of my life after it was announced that my business would undergo a tax audit. The reason why I was scared was not because we hadn’t paid taxes or because we were dodging the system, we were in fact doing everything by the book, but because our office was an absolute mess. We had files all over the place, we had stuff on computer and other staff in paper format and quite simply we looked like a right state.

Somehow we managed to scrape through that audit, but it served as a lesson for us to be more organized in the future. We have changed the way in which we do things now, and we have found that it came with many more benefits. If you have a business which isn’t very organized, here is why you should change. 

Tax Audit

I’ll start with the obvious reason and that is a tax audit, although any audit can be helped by a better organizational system. The reason why this is so important is because any auditors coming in from outside are going to need certain pieces of information quickly to hand, if you are not able to do this because you are too busy swimming through a sea of paperwork then you are going to be unlikely to be looked upon kindly by the auditor, and they will think that if you can’t keep paperwork up to date then what does that say about your ability to run a business, or pay your taxes. 

Speed of Operations

Something which has greatly improved since the big clean-up which we did was to massively speed up our operations. There are so many moments in the business where we need to get a customer’s records or cite information from previous deals and in the past we would have spent a huge amount of time each and every day searching through the mountain of paperwork in order to find it. Now that we have a perfect system which is all filed in alphabetical and chronological order, everting is easier to find and as a result we have saved a huge number of man hours which we’d have previous used on searching. 

Morale

 As the business owner I really should have paid more attention to how our dgsorgnziaed business was impacting the morale of the staff. They never said much about it because it just became the norm, but they have all since spoken to me about how much they would hate having to dig through the files and how happier they are since we have changed it. This change has greatly increased the levels of happiness in the office and I would say that now morale is very evidently  in a good place. 

If you have been putting off that organization then don’t any longer, pick a day and get it done. 

Harmless Statements You Should Not Make As A Leader

As a manager, employees always look at you. They watch how you behave and are really careful about what you say. You have to always be intentional and be really careful with what you say. Some really simple statements that you often make might not have the effect you initially imagined. German Trujillo Manrique highlights some of the seemingly harmless statements that should never be made by a person in a position of leadership.

“Just Keep Doing What You Do”

This statement is usually made when talking to the high performers with the purpose of encouragement. Unfortunately, this type of feedback is actually really bad. The high performers will be left confused. They will be frustrated by what is mentioned since they are ambitious and almost always want to focus on improvement.

Constructive criticism is a huge part of being a leader. You have to offer this and try to mentor people, especially those that perform really well. A much better alternative would be to simply say what the performer is good at and what can be done to make future improvements.

“Was What I Said Clear?”

Such a statement always seems to be reasonable but it does not actually offer a truly accurate picture. No matter what the answer to the question is, you will not actually know if people understood what you said. As an example, many bright leaders offer a lot of information. The audience ends up being overwhelmed. When this happens, people do not really know how to answer. Also, when the question appears in a setting where many people are present, the possibility of responding is low due to fear of looking confused. Doing a quick review of what was presented is much better.

“Failure Is Not An Option”

This can only be appropriate when faced with a really dire situation. The best leaders understand that this is not something that should be the case with most meetings that happen. At first glance, you think that you are setting the bar really high. In reality, what you do is encourage mediocrity. When people are too afraid of making mistakes, they are not going to make any experiment. They will not try to find better ways to do anything.

A much better approach is to talk about calculated risks and put an emphasis on the fact that risks should only be taken in the event that there is a good possibility of success.

“Bring Me Solutions”

This is usually associated with something like “do not bring me problems”. The statement is normally made in order to encourage proactivity and problem-solving. What it does is stop many from talking about the issues that they do not know how to properly solve. As this happens, leaders end up being completely unaware of big problems that exist. Also, people end up being too invested in solutions. They want to sell ideas instead of working together with others.

As you can see, you have to be really careful about what you say. Some really simple statements you often use may be mistakes.