By Darnyelle A Jervey, MBA
The truth is there are tons of businesses you can start if you’re feeling bit by the
entrepreneurial bug. From franchises to networking marketing, the sky is literally the
limit. And there’s no “right or wrong” answer. The truth is, it depends on several things,
most importantly, it depends on you.
I have to be honest, this is a timeless debate and the decision to start any business really
has to be determined by your ability to take consistent action. This is because
regardless of the type you start, the activities you’ll need to master to grow it, are
exactly the same.
You’ll need to clearly determine which awareness generating activities you’ll choose to
get found by your clients as well as which revenue generating activities you’ll choose to
get paid by your business.
Having had a direct sales business before starting my own “ground up” business, I can
definitely share my two cents on Shonda’s question:
“Hi Darnyelle Over the last year or so, I have really begun to think that I could be an
entrepreneur. And I have started doing research to see if I can learn what would be the
best way to go for me. I’ve thought about starting my own “ground up” business and
also just joining a direct selling or network marketing business. I value your opinion and
business building expertise and I know that you’ve had a Mary Kay Cosmetics business
that was successful and your company has grown to 7 figures. So, what do you
recommend? Starting your own or working a business model that works?
Check out my response to Shonda’s question in this week’s episode of Incredible Factor
TV:
It’s no secret that I started my entrepreneurial journey through Mary Kay Cosmetics and
by following their business plan and doing the work, I met success – 5 career cars, two
of which were the Pink Cadillac, Independent Executive Sales Director (that means I
helped five other women start their own Mary Kay units.) And I enjoyed countless
awards, prizes, diamonds, etc. during my tenure. But, it wasn’t enough for me – being
paid a percentage of the sales my unit and I made and team members I recruited for the
company. I came to realize that if I’m going to work that hard, it should be completely
for me and my brand. So I sent my Pink Cadillac back and started on the journey I’m
enjoying today.
But that’s my story. You may be the type of entrepreneur for whom being handed a
business plan and model that you just need to action is ideal. And if that’s you, good for
you. Like I said, there’s no wrong answer. You just need to get clear about the vision
you have for your life and what vehicles you’d like to leverage to make it happen.
In case you’re unclear about the options available to you in starting a business, let me
share a few definitions:
Direct sales – if you choose a direct sales company with which to start your own
business, you’ve decided that you want to sell a product directly to a consumer and earn
a percentage of the sales you make. Most direct sales companies also offer you the
option to build a team and earn recruiter commissions. In most cases, the amount you
earn increases with the number of team members you add to your team.
Networking Marketing – also known as MLM – multi-level marketing companies are
similar to a direct sales company but your primary focus is building a team, you’ll earn a
small amount (typically) for the products or services you have available to customers
but you’ll earn a lot more when you commit to building a strong team with multiple
levels.
Franchise – a franchise gives you access to a proven business model and brand for a
specified amount if time to operate it as your own independent business. This is an
alternative to opening your own “chain of stores.” And it’s a successful business model
that many enjoy. Typically, you’ll pay a large fee up front, which gives you marketing
assistance and brand recognition and consulting support in some capacity from the
franchiser. And you’ll have the opportunity to renew your franchise based on your
results.
And of course, starting your own “ground up” business will be designed by who you are,
the problem you solve and who you solve that problem for.
There are pros and cons to each, so you’ll have to decide which will work best for you.
©2015 by Darnyelle A. Jervey. All Rights Reserved. Darnyelle A. Jervey, MBA, The Incredible Factor Speaker, Business Coach and Marketing Mentor, is the founder of IncredibleOneEnterprises.com, Incredible Factor University® and the Leverage Your Incredible Factor System® a proven step by step program for more clients, more income and more leverage in your business. For more information and a FREE audio CD “7 Critical Mistakes Even Smart Entrepreneurs Must Avoid for Clients, Connection and Cash Flow” visit IncredibleOneEnterprises
Recent Comments