After many months of talking to new internet marketers and aspiring network marketing entrepreneurs I have come to one forgone conclusion, no one takes the time to make a plan. Imagine that, going into the battle of business with no plan of action and no firm commitments to speak of. If you start you home business, like the majority do, on a wing and a prayer I will guarantee you will find yourself a casualty like more than 95% who fail in home business today. The importance of having a plan can not be overemphasized. Many don't have a plan because they go into the business believing that their upline or sponsor will give them the direction they need to be successful. Others simply have no idea that a real business and marketing plan is needed to have success. I've asked my trainees from time to time to show me their plan and I often hear that it's in their head. They have it memorized to some degree and that's what they build their businesses from, memory. If I had to rely on my memory I wold have been out of business a years ago. It's no wonder they are failing and can't seem to get any traction. This may seem a little negative but it is true and the truth isn't always so pretty. It's only when we realize the gravity of where we are can we make the changes we need. Let's look at a sports analogy for a minute. Let's just say a professional baseball team never wrote down their plays and practiced them consistently. They had talent or "potential" but they would never commit to practicing any set plays. What might their season look like? Probably wouldn't be too strong a season right? Network Marketing is the exact same way and there are too many losing seasons to count when it comes to our industry. Now I do realize that many Network Marketing companies have training and support to some degree, however, significant planning is really missing in most companies I've seen over the years. Many get skills that are never implemented because they were never added to the "Playbook". Most bounce from tactic to technique never really gaining any real momentum. We all know that doesn't work in any business or endeavor and that proper planning produces peak performance, right? So, that said, here is what I suggest you do first. Get out a piece of paper and write down your five year, one year, six month, 3 month and one month goals. Then start with your one month goal and determine what it's going to take every day for you to reach that goal. Once you've written these steps, stick to them, never quit and watch your business grow. Due to the limits of this article it is virtually impossible for me to go over everything in detail but it starts with transferring your thoughts to paper. If you'd like to check out my site I can share more with you and even unveil my proven formula for Network Marketing success.
Employment Conditions
When you look for properties, either avoid altogether or be very cautious if the area's economy is largely based on just one employer. If that employer shuts down or cuts back drastically, that entire area's real estate market will be dramatically affected and you could get burned.
One exception to that rule would be a town that is home to a large, old, and well-established university. Such an establishment will have a steadying effect on the community that surrounds it, and there will always be a need for the many employees and students who are associated with the university.
Stick with Proven Strategies
If you're not a gambler, it's best to stick to investing in tried-and-true single family homes. There's always a market for them once you've fixed them up and are ready to resell. If you plan to rent your investment property out, single family homes are the easiest homes to rent, assuming they're not too expensive.
Guard Your Money
Always maintain a reserve fund, because unexpected things WILL come up as you go through the rehab process; that's just part of the investment game. If having to pay for an entire roof, including the sheathing, will mean that you can't pay your own mortgage that month, you're too close to the bone. You must make sure that an unexpected expense isn't going to sink you.
Know how much you're going to make when you make your offer. Although we've just established that things will come up that you can't predict, you should know what the house will sell for before you make any kind of an offer. That way, you can build in a cushion that will assure you of making a profit, even when the unexpected takes place.
Plan Ahead and Act Quickly
Get through the rehab process as quickly as you can. That way, you won't be surprised if the economy takes a downturn later on. You know what the economy and market are like at the time of purchase, and you want to be able to sell under essentially the same conditions. That will take a big load off your mind.
Educate Yourself
Become an expert in a particular area and type of home. That way, you'll eventually get good enough at knowing what homes are selling for so that you can make your offers quickly and as accurately as possible. Quick action gives you an edge over any competition you might have when it comes to making bids on properties.
Whoever said "knowledge is power" knew what they were talking about when it comes to buying and selling real estate.
Both Kylon Trower & Jeanette Joy Fisher are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Kylon Trower has sinced written about articles on various topics from Network Marketing, Surveys and Work From Home. Don't Take Another Move In Your Business Until You Get Kylon Trower's FREE "Home Biz Survival" Training Series That Gives You All The Essential Tools To Survive In