Create A Cash Flow Show

Successful in Business? You’ve Got a Plan

All successful businesses are based in a solid business plan. As direct sales and network marketing professionals, we are no exception. Without a written business plan in place success is elusive because you do not have any idea where you really want to go.

(I am not giving you legal advice or advising you on your income tax liabilities. Please talk to a knowledgeable direct sales-specific accountant regarding your personal situation.)

A business plan has three purposes:

1. Create direction, clarity and purpose for the company. A written business plan is a system of achieving your goal. Like a road map, it will give you clarity and guide you on your trip.
2. Reduce income tax liabilities. Now is the time that we all think about taxes and paying as little as possible to the IRS. January is too late for that!
3. Generate growth in your sales force or affiliate members. Everyone in network marketing wants to grow a team. The best way to do that is to have a business plan that supports that part of your mission.

Direction, Clarity and Purpose For Your Business

A business plan is something that all leaders talk about at this time of year, in the form of goal setting. In order to achieve your goals, you must write them down, and make a plan to achieve them. The very process of writing them down will firm up your commitments and give you clarity in your personal desires for your business. Over the past 3 weeks I had been thinking about my plan for 2008. I then sat down to revise my business plan yesterday. It took me several hours to rework my previous plan. The process was very interesting because I found that some things on the previous plan were not in my life or business any more, and other things that I currently put in high focus were not in the plan at all. In the process of creating a plan, I became much clearer in my focus for the next six months, even though I thought prior to starting that I knew exactly what I wanted my direction to be this year. After printing it out and reviewing it again, I am ready to make some final changes and reprint it. I recommend that you take a look at your business plan biannually to keep your business rolling in the directions you want and with focus on the areas you want.

Reduce Income Tax Liabilities

The benefits of being self-employed in the networking business brings with it a vast opportunity to reduce your taxes. It is a year-long project, not something to think about just in January. The MLMer is entitled to more deductions due to the nature of the business. A good MLM rep is always promoting and networking everywhere they go. Every person you encounter is either a potential customer, sales rep or source of referrals. Based on IRS code this allows us to convert otherwise personal expenses into business deductions. (I am not giving you legal advice or advising you on your income tax liabilities. Please talk to a knowledgeable direct sale- specific accountant regarding your personal situation.) Many networkers take the income reduction strategy of the business for granted and just willy-nilly look for and take any deduction they think of. This is not a good business practice. Check out the article on Direct Selling And Tax Deductions that I wrote last year for more information on income tax reductions using your IRS compatible business plan. In brief, your business plan will include systems that cycle through the following:

• An intent to profit
• Business activity
• Documentation of activity
• Reduction in taxes and business growth

Please note that the above system indicates intent to profit. The business does not have to show a profit. You must only show that you intend to profit. The Power-UP Home Study Set includes a IRS compatible, direct sales-specific business plan written by my friend and expert direct sales accountant Steve Spangenburg. The 8-CD set has a whole section on dreams and goals. The business plan is included on a data disc that you can upload into your computer and fill in the blanks. Start your new year off right. Buy Power-UP set

(I am not giving you legal advice or advising you on your income tax liabilities. Please talk to a knowledgeable direct sales specific accountant regarding your personal situation.)

Networking & Prospecting: Using Your Business Plan & Tax Strategies

One of the goals of all network marketers is to grow a team. Using a business plan to spearhead your sharing program will guarantee success. Be sure that you have a section in the plan regarding your sponsoring goals. How many people do you want to ask to join your company per month? How many people do you want to interview per month? And of course how many are you going to start into the business? What activities does this require? A good business plan not only outlines your goals, it also outlines the activities necessary to reach those goals. When you utilize your business plan as a goal-setting and motivational tool for yourself, and link that to the dual purpose of creating income and reducing taxes, it becomes an awesome instrument for creating desire for your business opportunity.

Earn More Money, Pay Less Taxes

Everyone would like to create more cash flow, right? Being a direct sales or MLM sales consultant is like having two streams of income. One is the product or service that your affiliate company offers. The other is the legal reduction in income taxes your household owes as a result of being in the business of networking. Hence, your “job” brings in income by generating sales. The other “job” retains income by reducing tax liabilities. The system of intent, activity, documentation and results is what makes it happen. Who wouldn’t want to reduce their income tax liabilities at the same time that they create income?

Here’s the power of your business plan:

• It creates business momentum through goal-setting.
• It creates more cash flow through sales generation.
• More cash flow is also generated through income tax reduction.
• as well as through the powerful tool of sharing the opportunity of getting two streams of income for the effort of one.

A Direct Sales Business Plan

It is to late to do anything about 2007 taxes. Right now, January 2008, is the best time to plan for next year’s taxes and business growth through the implementation of the proven system of business success. Experience the power of planning, and write your business plan NOW! Buy Power UP and the direct sales specific business plan template by CLICKING HERE.

(I am not giving you legal advice or advising you on your income tax liabilities. Please talk to a knowledgeable direct sales specific accountant regarding your personal situation.)
If you need a new tax accountant who is knowledgeable on direct sales professionals or you do not have a business yet, give me a call 717.751.2793 or send an email