You have to treat your MLM business like a business if you want to succeed and to take all the advantages of what it offers for you.
Most people when they look at MLM start off as a hobby, thinking what if. What if I could have financial freedom, what if I could have time freedom. So they jump in and start to learn everything they can about the business, sign up to an MLM company and then start their product on Autoship, then they start to invest in company training of leads … basically anything that will help them to grow a substantial downline. During all of this they forget the most important aspect of what they are doing. THEY ARE running a business.
With running a business comes incredible advantages. Think Tax deductions. It doesn’t matter where you live the basic premise is the same all over the world. If you have a business, all of the expenses incurred in that business are a tax deduction. You can claim the cost of your autoship ( product costs ), your lead costs, your stationary costs, your computer costs, your internet costs, your promotional costs … the list just goes on and on. One of the best things that you can claim is the cost of your vacations. All you have to do is make sure that you conduct some business whilst on vacation and you can claim the cost of this business as a tax deduction. So get out there and hand out a few flyers or put them on windscreens ( if it is legal in your country ) so you can get claim your vacation as a tax deduction.
When you start to treat your MLM business as a business and not just a hobby your whole attitude towards it will change. You are the CEO of your own company. You are the one calling the shots and deciding how and where to spend your marketing dollars. You are the one deciding who you want to join you in the company and who carries too much baggage to be a good fit. You decide the opportunities you want to pursue and the ones that don’t fit in with your goals. You are completely in charge of your own destiny. It’s all up to you. That is both really scary and really exciting at the same time but the rewards are huge and the risk tiny.
The down side of treating your business like a business is that you will have to submit a tax return each year and have to start up a company. You will probably want to find a good accountant who has experience in the MLM world so they can guide you and make sure you claim your maximum deductions within the law.
Until next time …
