After making back your initial investment in your direct sales business, your goal is to make it consistently profitable. Since there is so much more to direct selling than just pushing a product or service, it’s imperative that you have an understanding of the bigger picture. Here are three ways you can start and continue making your business a profitable one.
- Keep improving. If you aren’t moving forward, then you are stagnant. Improve yourself by continuing your education through professional development. Attend your upline’s local and regional workshops as well as your company’s annual national conference. Take free or low-cost business courses and webinars and listen in on conference calls given by your company or other experts in the direct sales industry. Subscribe to blogs relevant to your business. There is a wealth of information available to you to help you improve your business, so take advantage of it and aim to implement a few new improvements per month. This constant quest for advancement will give you the momentum you need to achieve long-term success.
- Find other streams of income that enhance your business. It’s no secret that your time is at a premium, whether your direct sales business is your full-time job or a part-time gig. If you need to supplement your income, try to find a way to do something that will help your business. For example, a direct seller of all-natural pet food and treats brings in a bit of extra money walking neighborhood dogs a few times a week. It’s a great way for her to meet potential customers, learn about the needs of pet owners, and spread word of her business.
- Spend less and save more. You should already have a set budget written down or typed out somewhere. Go through it regularly to see where you could cut your spending and put that money aside for a rainy day. Perhaps hold off on purchasing new inventory until it becomes clear which products are the most popular from the latest catalog. If you find yourself getting hit with fees for accepting credit cards, offer customers incentives to pay cash or check. Even the smallest things can add up to a substantial amount saved.
Which of these suggestions do you find most helpful? Is there anything you would add to our list? Please share your ideas below!