Here’s a brain tickler for you MLM business builders:
Question: In an MLM business, why does credit card debt mean you are a lousy salesman?
Answer: Because credit card debt means you are buying trading your future labor (or earnings) to buy something today.
Credit Card Debt = A Sad Future
In other words, because you want something today but you don’t have the money to buy it, you are using your credit card to sell your future labor to get what you want today. It means that you are not a good enough salesperson today to earn enough to buy what you want, so instead of delaying your gratification to get what you want, you sell tomorrow’s labor to buy what you want today.
It’s a sad, bad deal my friend. It’s also an intriguing thought, right? I never thought about this until I read Robert Kiyosaki’s book “The Business School for People Who Like Helping People.” In this book he talks about the fact that getting instant gratification with the use of credit cards is like selling your tomorrows to the credit card company. Do this too often and you won’t want to face your future because it will be glum indeed.
Not All Credit Card Debt is Bad
Of course, this formula doesn’t apply to every little chunk of debt when you are building your MLM business. There is good debt and bad debt when it comes to building your business. Bad debt, as should be obvious by now, is buying a big screen television so you can impress your prospects when they come to watch the corporate DVD promoting your MLM company. A regular TV will do fine.
Good debt might include investing in leads, buying online services to promote your business, or buying tickets to fly out to the corporate convention to get educated about MLM. As with all kinds of debt, you need to keep it under control, and within limits with which you are comfortable.
Online MLM as a Cheap Solution
Doing your MLM business online is one way to rack up the least amount of debt while building your business. So many of the promotional tools you might use for online MLM promotion are free or very low cost. There is no need to hand out DVDs, CDs, or brochures because all of the information is stored online, either on a blog, a website, or in an educational article.
Online services you might need to invest in for your MLM business include:
- autoresponders
- website hosting
- networking and social media site memberships
- online educational tools about MLM
When you are first getting started, though, you might not even need many of these services. Instead of using an autoresponder, email people back personally. Instead of paying for website hosting, sign up for a free blog and get a corporate-approved replicated website. Limit your social media memberships to the free versions, and read online articles and free ebooks instead of buying online educational services.
These are only options, of course. The formula with online MLM, as with any business, is that you either invest time or money. If have money to spend promoting your MLM business online (without going into credit card debt), then by all means save yourself some elbow grease. On the other hand, if you don’t have easy cash laying around and don’t want to go into a lot of debt, start with free online MLM promotion and some sweat equity.
Whichever way you go, watch your credit card debt closely and don’t get in over your head. If the credit card hole gets too deep, stop digging. Consider using online methods to promote your business cheaply while your business grows. Copy?
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Credit Card Debt = Lousy Selling. It’s a unknown definition.