Financial freedom is an imaginary but possible attainable goal desired by everyone where you make life decisions without being overly stressed of their financial impact because you are in control with your finances. However, the path to financial independence does not automatically happens overnight. You need to work for it!
Dream big and get specific about your goal. If it would inspire you to read and ponder how ordinary people built extraordinary wealth, then do it.
One of the business tactics I am going to share with you that would help bring in money to the bank account is direct sales. The concept of direct sales is to find a solution to the pain points of the customer. It is all about solving a problem.
Direct sales help increase your skills and increase your income. Depending on the time and effort you spend on this business, you earn a significant amount that is enough to pay your car or home insurance, mortgage or rent and debt or credit card payments. To be specific, here are at least five ways it can help fill in your tattered pockets:
Reason 1: Sizable extra income
What is beautiful about direct sales is that you control how much time and effort you are going to spend on the business and of course, how much money you want to earn. Most people involved in direct sales do it as a hobby, extra income or nice full time income.
There is absolutely no entry barrier to direct sales. It is easy to start and inexpensive to run. You can do it from home or anywhere you like to work on it. However, this is not the same as MLM.
If you noticed on Facebook, there are many individuals now using it to sell something to the public or set of friends. This business model motivates people to sell products directly to their families and friends either through social media or by directly calling and meeting them.
Not to confuse you, many direct sales companies are also MLM companies like Avon. You have to learn how to sell to friends, including complete strangers. You need to be comfortable being in a lengthy conversation because you are selling.
You can also use this model in your made-from-scratch home business. For example, if you offer social media marketing services, then you can use the Messenger and directly message companies you think can benefit from the offer.
Reason 2: Work from home
You work flexible hours and do it from home. This type of business can grow and help you build up a reasonable income over time as you widen your circle of friends.
You earn a living working in direct sales in your pajamas. With direct sales, you are confident enough to set your own hours and choose where you work. Your efforts determine how far you take yourself to success. It is totally unique and flexible.
For example, the Etcetera allows you to work as a Trunk Show Stylist where you sell new styles in the privacy of your home. This way, the customer enjoys the one-on-one shopping spree and personalized service. You get a financial reward in helping someone find her style.
One thing you should admit, if you are not cut out for it, direct sales may not be you. You have to be creative and market the products in a variety of ways, such as home parties or internet.
Direct selling refers to selling a product directly to people in a non-retail environment where the sales process occurs at home, online and other non-store locations. You can use catalogs and sell online or host a party. Remember Tupperware?
Reason 3: Buy products at a discount
Many people joined Direct Sales because they are already using the product and they want to buy it at a discount. While there are no restrictions about how you are going to use the product or why you joined the Direct Sales, understand that you may not be able to earn much if your goal is just to buy the product at a discount.
You need to build your customer base to earn a salary equivalent to your full time work. The number of hours you invest determines how quickly you grow your business. You must be willing to work for your customer base.
Reason 4: Product potential is high
Choosing the right Direct Sales company is extremely important. Determine the potential of their products and duplicate the strategies of the other members of the company.
Ask how you can sell the products more effectively. Being keen to the capacity of the client to pay is also important because most Direct Sales products can be expensive. It would help offering an informal installment plan.
Clearly set your terms and be strict with the collections so you can properly manage your budget. Monitor your sales and A/Rs as well as your progress.
Reason 5: Little or no capital is needed
Besides the first kit you need to buy so you have items to show and sell, you may not need more capital to run the business. Just roll the first kit’s money and there you go.
You can build a team to serve as your downline and also earn from them. However, it is important that you work on your selling or marketing strategy rather than just sitting there and wait for your downline to work!
The planning and training you have set you to long term entrepreneurship. You gain skills here and you develop your own marketing strategy. With the right planning, it can transform into a very profitable endeavor.
Many people love Direct Sales because it allows them to work around their priorities. Although you can start any time you want, you should not forget to review and ask about their return policy. What about returned items from your customers? Are they going to buy back unsold inventory?
Do not fail to look into and understand the compensation plan. The larger scheme is to explore the market potential using a network centered business model. Direct Sales usually depend on the percentage of the designated sale commission. If you want to build a long term residual income, consider networking with your friends and families first.