Manage by STATS
One of the biggest mistakes that is made by people when they
begin to embark on a new endeavor is thinking that they're
doing the right thing by how they feel. That's a huge mistake.
We must learn how to manage by stats.
To manage by stats we must first realize that there are
steps that need to be done in a specific sequence to be
able to produce a stat.
We'll detail those steps as we take you through the System.
Here is a brief outline of the steps.
Before you can produce a stat you must first "exist" within
the co-op. Just joining the co-op does not cause you to exist.
You do not exist within the co-op until you first get your
communication lines in. You have to know who to get
information from and who to give information to.
#1 Get your communication lines in:
Get a relationship with one of the BLC Producers! This person will be your mentor or they will be the link to your mentor.
Plug into the weekly training broadcasts and calls.
Once you have your communication lines in, you'll need to engage.
#2 Make it known with intent to uncover and discover what is needed and wanted:
Too many people are afraid to do until they know how to do... and that is crazy thinking. You don't know what you don't know. And the only way for you to know what you don't know is to do. You have to engage with intent to uncover and discover what is needed and wanted.
Once you have uncovered what is needed and wanted.
#3 Prepare to deliver what you have discovered:
This is where the work starts. This is where the co-op really starts to come into play. This is where you'll work on Your Attitude, Your Self-Image and Your Beliefs.
Most people never get to this point because they're looking to get something for nothing. They look at this as a lottery. They want to get their dreams without risking or changing anything. Just the fact that you have gotten this far, you have stacked the deck in your favor.
#4 Produce a result:
This is where the fun starts because you're starting to see results. You are acting like an Independent Business Owner. You now have confidence and certainty.
If you are willing to do the above, we recommend that you setup a home based business. The benefits of setting up a home based business are numerous and the least of which are the tax advantages.
The government allows any individual to deduct any expenders that are related to their business as long as the individual has demonstrated intent to make an income. If you've done the above, you have demonstrated intent.
Let's say you're joint taxable income is $60,000 per year and we're able to deduct $10,000 of your $60,000 disbursements per year. That should result in at least a $1,000 tax savings per year. (This is not a guarantee. This is just an illustration. Consult with your tax preparer.)
That $1,000 tax savings should be able to cover your investment as well as your monthly overhead to keep your home based business open.
Steps to Setup a Home Based Business
The steps to setting up a home based business are pretty simple. Step 1, setup a Business name. Step 2, setup a checking account. Step 3, setup an accounting system. Step 4, setup a projection. Step 5, keep good records. Step 6, make some money.
#1 Setup a Business name
Pick a simple business name that you can use as a schedule C for your home based business. (i.e. "J&L Enterprise")
#2 Setup a checking account:
Setup a personal checking account under your business name. (You'll pay less fees for a personal checking account)
#3 Setup an accounting system
Make sure your accountant has a good understanding of Network Marketing. If you need assistance in setting up an accounting system, get with your Sponsor to get the details on the Cashflow Manager System that we've made available through the BLC.
#4 Setup a projection:
We have a simple template that you can follow to assist you in this process. Check with your Sponsor for more information.
#5 Keep good records:
This process is incorporated in the Cash Flow Management System.
#6 Make some money:
Even though the government does not require you to make an income to be able to deduct your expenders, we highly encourage you to make an income as fast as you can. Follow the steps of our system to make some money (See the Pattern and System section).