Four Extra Expenses for an Online MLM Business
When we started our first online MLM home business the initial cost to become a distributor was within our small business budget. Another expected expense was for us to buy products on a regular basis for our own personal use. If we were going to sell products we needed to be using them ourselves so that we could speak from experience. We ended up with four more unexpected home business expenses that made our list of home business expenses much longer. We ended up taking out a business loan. At least we were able to use these new expenses as tax deductions.
So here is our list of four unexpected home business expenses:
1. New Computer and Laptop
We realized right away how old our computer was because we needed more speed and a lot more memory. Our first big expense was a new desktop computer. Since I wanted to take my work with me, I bought our first laptop computer as well.
We realized right away how old our computer was because we needed more speed and a lot more memory. Our first big expense was a new desktop computer. Since I wanted to take my work with me, I bought our first laptop computer as well.
2. New Printer, Paper, Ink
Our printer had been working fine at the time of our online MLM business investment but gave up the ghost shortly afterwards. We went shopping and found a printer more suitable for a business. It had more features than our old one plus it had a fax machine component. My husband likes to print everything and keep hard copies so we needed a lot more paper and ink.
Our printer had been working fine at the time of our online MLM business investment but gave up the ghost shortly afterwards. We went shopping and found a printer more suitable for a business. It had more features than our old one plus it had a fax machine component. My husband likes to print everything and keep hard copies so we needed a lot more paper and ink.
3. New Home Phones and Cell Phones
We found out that our home telephones could not hold the charge for an hour long webinar so they needed replaced as well. Our cell phones were upgraded to iPhones so we could down load some of the business software, send emails, and use Face time to speak to new prospects.
We found out that our home telephones could not hold the charge for an hour long webinar so they needed replaced as well. Our cell phones were upgraded to iPhones so we could down load some of the business software, send emails, and use Face time to speak to new prospects.
4. Leads: Buy Them or Generate Our Own?
We realized that selling to family and friends was not going to grow our business large enough or fast enough to offset our growing expenses. We listened to our mentor and paid a high price for 15 targeted leads. Several of those leads were bad and had to be replaced but the people we were able to contact had no money and no interest in our business. Since leads were so expensive, we decided to invest our money in schooling instead to learn how to generate our own targeted leads. The idea was to find people who were already interested in what we had to offer plus we would have a much larger market. We paid for the schooling in monthly installments rather than trying to increase our business loan.
We realized that selling to family and friends was not going to grow our business large enough or fast enough to offset our growing expenses. We listened to our mentor and paid a high price for 15 targeted leads. Several of those leads were bad and had to be replaced but the people we were able to contact had no money and no interest in our business. Since leads were so expensive, we decided to invest our money in schooling instead to learn how to generate our own targeted leads. The idea was to find people who were already interested in what we had to offer plus we would have a much larger market. We paid for the schooling in monthly installments rather than trying to increase our business loan.
Since we had not anticipated these extra costs, we really weren't prepared to have our bills pile up so rapidly. Anyone who is serious about having a small home business needs to be aware that starting out with a shoe string budget like we did usually will not work. My advice is to be sure that you have backup money available in order handle any unanticipated online MLM business expenses.
If you would like to know more about how to find a great online MLM home business click here Online MLM Business. Annie Cook is the President of a home based business and an expert author of many articles related to home business success and internet marketing. Annie is also part of a team of successful business people who are willing to train new entrepreneurs. If you would like to know more about Annie Cook click here Home Business Success
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