MLM Network Marketing Business Week
Diving into the different types of business structures will be interesting to see how they all play out. We have already covered Men in business with an MLM structure and Women in business with Self Employment Proprietorship structures so far. This week will be Women in an MLM business structure, Guest Sabine Gaudette with 3 Healths Solutions.
There are many different types to consider when you have a business. Belonging to an MLM type is mostly a “behind the scenes” type of structure. The MLM company will have a Back end business account when you register. Your account will have a back end, a dashboard and usually a website that you also get with your business startup. This account will show you who is in your team, where you sit in the tree with your up line. It will show your sales, income payments, next level rewards, and any progress with your own level. We will dive more into that part in our Podcast. Now in comparison with a regular proprietorship business structure you would be responsible for your own website, your own url address, your design for your site, your monitoring and blogs for the website. You would also need to have an accounting format either in a program or on-line, to keep track of your accounts and who owes you money and who you owe money to! Your Accounts payables and accounts receivables.
Social media will be the same for both structures, because you will both need to consider what social media platforms to use to market yourself, service or product, and what posts that you will post consistently to draw traffic to your page. So in both cases, family or loved ones, will need to know where you hold your website, or your account and how to access it. Remember, will this website continue when you are gone or will the website need to be closed.
So along with loved ones needing to know your website information, they will also need to know any social media accounts that you have. Will these accounts need to be closed if something happened to you? So, in a proprietorship business it is very important to have this organized in such a way that your family, special friend or loved one knows what your wishes are for the continuation of the business and website. Remember, I have clients that have a website, but really only blog on their page. They have merch for sale, they have blogs each week on their travels, or their life. But, in this case, what do you want that to look like? Do you want someone to take over your Blog and continue it when you are gone? Or would you prefer to close the page?
I am only touching on the surface on the limitless topics to consider when you have a business. Your social media can be taken over by the wrong hands, your account can be hacked when it’s not used, it is a prime target. So, let’s look at some of the reasonable strategies with having a business and only you know all of the information for your accounts. Are you solely on the title of your bank accounts, investments, property, vehicles, your website, your social media accounts, your MLM account, your digital accounts. This has really become a whole other world when we don’t have paper trails anymore when trying to complete someone’s estate or have power of attorney. We are not getting mail anymore, we are not getting a paper copy of the bills so it has become even a more difficult task in trying to locate what that person had for accounts.
In the majority of cases you would need to produce a court order to access their account. But, remember that’s when you know they have an account! What about the items that you are unaware of? So can you see the complexity of the situation? When you don’t have the information at hand for your loved ones to put the pieces of your puzzle together?
It’s going to be a fantastic Podcast this week, stay tuned for Tuesday 6 pm PST. Lots of topics to cover in the MLM Network Marketing world.
Check out last week’s podcast!
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