5 Steps to Massive Income through Financial Planning

The magic income number from all those folks that I meet is $10,000 monthly. I often hear the following question: How do I make $10K per month fast? There is a better question that these people should be asking: "How to I not go broke while I'm building my business?" The number one reason why network marketers fail is because of the lack of cash flow. The web has taken over as a main source for all our information. With a basic search we can find the answers to most of our questions. Results are obtained in a matter of seconds to minutes not hours, days, or months. Your dreams of creating a huge residual and immediate income can be done by analyzing your finances. Set up different stages of income accomplishments that are realistic and also take into account your monthly expenses.

Assuming that every month your expenses total up to $3,000 you will have rely on how much business you can generate. You will have to bring in 30 new network marketers every month at $100 each to stay afloat. The reality of multi level marketing is that you can't design a big business without driving depth in your organization. Bring in tons of new people into your organization is awesome but if you can't show people how to do the same you will lose your income. Master the following steps to network marketing financial management:

Step 1 - Eliminating Bad Expenses

List all of your monthly expenses
Utilize a minimum 3 months of statements from your financial institution, credit cards, and utility companies
Separate every expense into either business or personal expenditures by month
You should see a pattern to start emerging
Cut out all wasteful expenditures. They destroy your capacity to remain in business longer and cultivate a steady income stream
Point of Interest - You need to cut out any expense that doesn't feed, house, clothe, or improve your mindset
Cease paying with cash and utilize your ATM, credit card, or checks

Step 2 - Estimate Marketing Expenditures

Approximate how much it will cost you to bring in a new rep on and off the internet
Internet advertising will cost between $2.00 and $5 per prospect
Offline marketing depends on what methods you are going to implement: Business cards run about $75 for every 1000, flyers are $.10 to $.50 for every sheet, and mailers cost $.40 to $.55 mailed item including mailing fees

Step 3 - Entering Data

Input every part of your records into excel and analyze all your monthly and expected expenses
Color code actual and estimated expenses differently
When estimated expenses become real expenditures, adjust the font color again to maintain your spreadsheet organized

Step 4 - Forecast Revenue

After you have figured out your expenditures, you will need to know your breakeven point
If you are seriously going to run with your opportunity and have the determination to succeed then forecast at least four to five months to breakeven on your expenditures
Focusing on helping your downline sponsor more reps is the best way to achieve a massive income
Figure out the bare minimum new representatives that your partners have to generate monthly and the income potential to you from your collective efforts

Step 5 - Analyzing Your Results

Determine if you can get rid of extra expenditures
Where and how can you increase your income to reach your goals faster?
Determine if you are being real with your projections or not real enough.
How many individuals are you going to have to talk to on the phone or meet to realize your goals?
Go beyond your perception of reality and shatter the barriers to success!

Financial planning is solution to dominating network marketing. Running your own business can be fun and rewarding. Those who take network marketing seriously will get the benefits of lasting wealth. Reaching your destiny is in your hands. Become a star in your organization and demonstrate to others how to utilize these easy principals.