Entrepreneurship: The Commission Decison

When talking to people about entrepreneurship in the network marketing industry and as an independent startup, the number one question is always about how and how much cash flow can be relied on. These questions are very valid! I am aware that bills don't pay themselves and creditors do not accept excuses or allow extensions while you're trying to figure things out.

I am an entrepreneur in the network marketing arena and in the start-up arena as well. There are three basic and very important skills that an individual needs to be aware of before making the journey to entrepreneurship and making the commission decision. Most Americans have an employee/guaranteed paycheck mindset, and due to the "commission" nature of entrepreneurship, you'll need to develop these skills to survive!

Coachability: You must be coachable. If you are a start-up entrepreneur, you will NEED a mentor. Read books, hire a coach, and focus on personal development. The more willing you are to learn and deflect to wise counsel, the better off you are in the long run. You will be able to learn without the critical mistakes that most entrepreneurs have made.

System: Follow a proven system! If you are a network marketing entrepreneur, FOLLOW THE SYSTEM THAT YOUR UPLINE TEACHES YOU! This will ensure that you can maximize your chances of having the same results that top earners in the company have achieved. Don't try to reinvent the wheel. Just implement the skills that you are learning from your mentor.

Effort: Do you put in the same effort when you're alone that you do when you're around others? I have to be honest here. I truly believe that the issue with the commission decision is hat most people don't work their hardest when no-one is looking! I believe that we have come to a place where individuals are goofing off and doing just the minimum for a guaranteed paycheck! As an entrepreneur, you will need to work harder than you've ever worked.You will need to be accountable to yourself and your family as well as your upline (if you're a network marketing entrepreneur).

If for any reason you can not master or practice these skills, you are set for a truly bumpy experience! Challenge yourself more so that when you step out into the market, you are ready for the chllenges that are sure to come!

~Shanta

The Reaper Effect

What happens when a person dies? Their families lose everything they've ever worked for and move to an apartment a few blocks away from the projects, the children leave their home, their school, and their friends, and the remaining parent or caregiver struggles to make ends meet while the child struggles to cope with the loss of a parent and making new friends!

Wouldn't it be terrible if that was the grim reaper effect? Total loss? For far too long people have lived this reality and families have gone without proper protection from the reaper, and this has to stop! With the growing rate of single parent homes, we need to be educated on how to properly plan for our futures so that our children can grieve us properly! Death is inevitable, but it doesn't have to effect our children's lives any more than our loss already does.

Over the next few weeks, we will be talking about life insurance: dispelling the rumors, educating the masses, and how to get people the coverage they need on their budget! Let's change the reaper effect from total loss to plain grief. You can rebound from both, but loss lasts much longer!

As a single mother, this information truly changed my perspective on some things! Now I can truly say that my son will be financially established if I pass away.  Let's start the talk about insurance! Let's not stop until everyone has the coverage that they need!

~Shanta

GOOD BYE TAX SEASON: An Ode to Entrepreneurship

GOOD BYE TAX SEASON

An Ode to Entrepreneurship

 

Every year, millions of Americans file their taxes. This year and last year I spent some time in the offices of H&R Block as an income tax professional, and I must say that it is very educational. I learn so much every year and discover exactly how much variation there is in this country.

 

Normally, I have W-2 income and rarely any schedule C income (self employment) unless I am doing my own. There is a HUGE lack of entrepreneurship where I currently live and at times it makes me feel out of place, but the interaction is what keeps me going back! Truck drivers, school teacher, security guards, and all the rest all have a very interesting story to tell, and taxes tells it all.

 

These people work hard for every dime that they receive from their wages, but many of them are living below their potential. There are so many people that I meet who are "just getting by" and ready for a change. They want to experience the thrill of being their own boss, but the fear of change holds so many people in place.

 

We are taught, trained, & conditioned to get an education and join the workforce. We are taught that when we work hard for others, it will pay off with a large paycheck, a big house, new car, and the perfect environment to raise our families, but today I challenge that thought! We are not meant to work all day every day until we die. Other nations have a much better view of work than we do (think siestas)! What if you could live the American dream on your own terms? I'M TELLING YOU THAT IT'S POSSIBLE!

 

This new opportunity that I have discovered has truly opened my eyes to the reality that I can live the life that I want without breaking my back on someone else's behalf. It has also taught me that I did not need to go to college, and if I had listened to my mother in high school, I would be $90,000+ lighter in the debt department! Network marketing companies are a great option for those seeking to make a change but are not sure how to start. I know when you hear "network marketing" you may automatically be turned off, but let me explain.

 

Anytime you make a major purchase, you verify it with others. That means you look at reviews, you ask the people currently in the neighborhood, or you may even consult your parents or other trusted advisors for their opinion. We do it daily, for free! There exist in this world a number of companies that utilize this network marketing framework to build relationships and income for the dedicated individuals who can see the vision and bring it to life.

 

I've been an entrepreneur since 2013, and there was no system in place when I started. However, with my current opportunity, there is a system in place, there is no monthly purchase requirement, and I can get the experience and education that I thought college would give me for a much lower cost!! The company I am referring to is People Helping People. This opportunity is exciting because I have a team, I have a system, and my team is AWESOME!! They are there when I need them, and I believe in the vision of the company! If you are interested in making a change, let me know. PHO may not be the change for you, but you can find the company that provides you just the change that you are looking for! I'M TELLING YOU THAT IT'S POSSIBLE!

~Shanta

Education: MBA Entrepreneurship and Managing Innovation

On March 4th, I started my MBA program with Benedictine University online. There were several reasons that I chose this concentration, but most importantly I chose this option because I want a formal education on entrepreneurship. I started with the basics, of course, but I was finally able to take one of my concentration courses in entrepreneurship. I am very excited! The course sessions are 8 weeks long and run consecutively minus a short break for winter and summer.

Here's an excerpt from the Entrepreneurship course syllabus:

Course Description

This course deals with new venture management, examining entrepreneurial personalities, managing creativity, and establishing a successful enterprise.

Course Objectives

Upon successful completion of this course, each student will be able to:

• Develop an understanding of entrepreneurship and the entrepreneurial process.
• Assess the feasibility of new business concepts and ideas.
• Explain and analyze new business venture management principles including opportunity recognition, market assessment, and financial planning.
• Formulate a plan to identify resources and skills needed to grow a new venture business.
• Analyze various exit strategies for new business ventures.
• Create business plans for development and financing of new business ventures.

The weekly discussion posts were a great way to help me see other opinions and expand my thinking on the various subjects while the written assignments gave great opportunities for constructive feedback to help me improve my thoughts and processes. We also had a group project in this course. We chose to focus on developing a mobile app to search for lowest price textbooks and supplemental materials for graduate and undergraduate students. That was a challenge for me as I have no experience in mobile app development. However, it was a challenge that I now appreciate. We were also encouraged to create a business plan of our own or tweak an existing business plan, and this is what I will be working on continuously.

My next course started today, and I am very excited! This new course focuses on technology and innovation in business!! I am enjoying the learning platform and my instructors & classmates are amazing! Education is power!