We may earn money or products from the companies mentioned in this post.
Yesterday I wrote a funny post in my new direct sales business team group about grounding myself from ordering anymore product until I get paid the commissions I had already earned. Most laughed and agreed with me, saying they were in a similar situation, but there were some folks who’s comments concerned me….. enough so that I came over here to write a blog post because, no matter which direct sales business we are talking about, we’ve all seen it (or maybe even been there).
“I bought 2k worth of products….”
While my post was meant to be a funny moment where I really did have to stop and look at my cart before pressing submit, I want to share something. Honestly, it is *very* easy to get into a mindset of needing all the things because we are excited, then have a little buyer’s remorse when we get the credit card bill. It’s hard to understand that our friends may not be as into this new direct sales business as we are. I mean, clearly it’s the best thing since sliced bread! Why don’t they get it?
“….and haven’t sold a thing.”
Ouch. That right there can be a real bubble burster. All your excitement isn’t being reciprocated in the form of orders. Just likes. Well buster, likes don’t pay the bills. There are multiple ways to work your direct sales business (I’ve got a post about this coming soon) and you really need to be using a variety of them. Simply throwing something up on Facebook and announcing it is for sale is not going to do the trick.
One thing I think people really forget about is that this *is* a business and needs to be treated as such- meaning budgets, income and expenses, tracking, marketing, production/creation, promotion….all of the things that every corporation does. The only difference between you and them? They have a whole team doing it. This is just you, baby.
A One Person Show
Being that it’s just you out here in the trenches working your business, you really need to be organized and laser focused on what you pour your precious time and energy into. New product releases are a wonderfully exciting time! You get pumped up and your passion for your product is renewed. They can also be a huge time, energy & financial suck–all the new things are so exciting and you have to have them all and tell everyone about them and and and… The first thing I want you to let go of is the idea that because you like a product, you need it. So, before you even open that catalog or online shopping cart, set yourself a budget.
Whomp whomp, right? But by looking at your income, expenses and profit from your business since the last catalog release (or since launch if you’re brand new) is a great way to predict future sales. If you only profited $200 in the last 6 months, is it wise to spend $300 in new product? Going further with this example, did you only profit $200 because there were extenuating circumstances and you couldn’t work your business the way you wanted? Things like this need to be taken into consideration when setting your budget. Because spending that $300 might just be worth if if you schedule and commitment have gotten a refresh. That’s a decision only you can make for yourself and your particular direct sales business.
Clearly I’m not alone in feeling this way…. lots of comments and reactions in a short period of time.
Names have been changed to protect the innocent. #dundun #LawAndOrder
I’m here to say, out loud, this is HARD. I get it. The excitement of putting all of the things in your shopping cart and imagining that huge box showing up on your porch can be exhilarating. But don’t let that temporary excitement speak louder than your business sense. Because what’s super thrilling today, can lead to headaches and misery in the future. Stay tuned for our next post on exactly how to maximize your inventory ordering. In the meantime, check out how you can rock a Facebook party— one of the main ways that I sell my products!