Business Publications: Great Source of Ideas and Inspiration
Your Million Dollar Business and Self Development
One of the things that helped me build a successful business is that I always treated my network marketing business as a “Million Dollar Business.”
I've never treated it like a $1000 “home business” or “project.”
I knew you could make a Million Dollars and in my mind I always had the feeling that “I had a million dollars at stake” so I had to go out and do everything so that I would not lose my million.
Because I had this mindset, I would go out and study the topic of business and always treated my MLM business as a “traditional business.”
And because I never had experience and didn't know ANYTHING about business, it motivated me to read business magazines OUTSIDE of network marketing.
4 Ways Reading Business Magazines Helped Me
These magazines or journals were helpful to my successful because they:
1) Provided Another Perspective
I like reading magazines that are OUTSIDE of the Network Marketing Profession. This does 2 things:
1) Gives me another perspective
2) Puts me in the frame of mind that I have a real Million Dollar “business” and not just a small time “home business”
I'm not saying MLM publications are bad.
I read Networking Times Magazine on a regular basis and it is an excellent publication that I've been reading for years that I would highly recommend.
My advice is not just read about our profession but to read OUTSIDE of Network Marketing so that we can get a different outlook.
2) Provided Inspiration
It's always inspiring to read how other entrepreneurs had to struggle before they made their millions.
Their stories motivated and inspired me and reminded me every time I faced challenges that I was not the only one.
3) How to Think Like an Entrepreneur and Not an Employee
When we join our MLM business, we tell everyone that “we are our own boss” but unfortunately we don't think like a boss.
We still think and do things that employees would.
One example is often we are not self motivated. We need someone else (like a supervisor) to boss us around before we get our butts to take action.
But successful entrepreneurs don't have that problem.
They take action!
Reading and learning about traditional businesses taught me not just the habits of what successful entrepreneurs do, but more importantly how they THINK.
One example, is Entrepreneurs all EMBRACE hardship, rejection and failures because they know it is a prequisite for success. Rejection is nothing new to them and they are numb to it.
The pressure that network marekting distributors face is nothing compared to what traditional business owners face.
It is during the most intense obstacles that they find their breakdthrough so we should embrace the challenges and rejections as well.
4) Marketing Ideas and Trends
Lastly, reading business journals updated me on the trends and gave me IDEAS on how to market my MLM business and get leads.
One example is back in the early 2000s when Yahoo bought out Overture which was one of the early pioneers on a type of online marketing called Pay Per Click (PPC) advertising. At the same time, in 2002, Google officially started their own PPC advertising system as well.
After learning about PPC, I had a hunch that it would be big and decided to take action on my hunch.
By reading and learning about Pay Per Click, my mind started to think about how to use that platform to generate network marketing leads. A few months later, I had a website up and started to find excellent motivated prospects online. Pay Per Click advertising was one of the primary reasons I was able to expand interntionally fast and played a big part of my initial success.
I literally had dozens of prospects who wanted to join my business and I was lucky to find them because of that one idea I had with Pay Per Click.
And it all happened because I had read some article about Yahoo's acquisition of Overture.
Unfortunately Pay Per Click no longer works for the home business industry (Google and Yahoo frown upon home business ads and prohibit MLM advertising) but it worked amazingly well 10 years ago.
If I had never read I may have never gotten those ideas and generated the leads that brought in my leaders.
So… make sure you read and look for trends and you can take advantage of.
IMPORTANT: Most of Ideas Will Fail
One important note is that if you try out 10 ideas, 7 will fail… 2 will break even but 1 will be very profitable.
For every great Pay Per Click advertising idea I had, I had many other ideas that failed (such as selling products at basketball camps).
But Entrepreneurs never quit. They know that as long as they keep going, sooner or later they will strike gold.
Most distributors quit trying after 2 – 3 failed ideas and then complain the business never works.
They are wrong.
The business ABSOLUTELY works. They just have to be patient and keep going.
Remember, only 1 out of 10 idea will work!
What I'm Reading Now
I still read everyday and thanks to the iPad it makes reading so much easier now. There is no excuse to “miss an issue” because you can read it anywhere now on the go.
Here are some of the publications that I still read on a regular basis.
1) Wall Street Journal (daily)
2) Fast Company (monthly)
3) Entrepreneur (monthly)
4) Businessweek (weekly)
5) Inc. (monthly)
Those are the main ones that I read on a consistent basis. I still get inspired by them and they are a great source of ideas.
So what business publications do you read?
What is your source for ideas?
Sincerely,
Simon Chan
P.S. In the last 10 years, I have read almost every book and listened to every audio on network marketing and then took what worked and did not work and created THE S.O.W. SPONSORING SYSTEM.
If you want a short cut to your success in network marketing and learn a simple and duplicatable approach to sponsoring, go check out THE S.O.W. SPONSORING SYSTEM. It is proven to work and is backed by 4 Different Money Back Guarantees.
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