This crazy economic time has really taken its toll on many different businesses. It seems everyone has been kind of holding their breath to see what their business will do, even in the MLM world. I’m no exception. I’ve been asking myself if the home based business industry will get bigger or fade away during this financial crisis.

All the experts say that it will get worse before it gets better. However, after thinking about it, I feel that the field we are in, home based business, still has some potential for growth because there are so many that have lost their jobs, fallen behind on bills or just need to supplement their income.

But then, having said that, if everyone is in desperate need of income will they still spend money on my business, product or related training materials?

It seems that more people are looking to our market for the income that they need to manage their lives and they are willing to buy. This really isn’t surprising as recently I watched a local report on a job fair. There were 10,000 people lined up all day long hoping that they would get a shot at one of the 200 jobs that employers were offering. 200 jobs…10,000 people.

Many networkers have seen a sharp increase in sales and home based business is definitely benefiting from a bad economy. But it seems that those that are willing to spend their money, especially those that are having to watch their money vary carefully, are returning substandard products. People are demanding higher quality for their money and like the security of dealing with people they have a track record with. This means that your relationships with your prospects and clients are more important than ever right now.

So… here is how to get through this economic crisis:

Look at it from the other person’s point of view.

When you’re a newbie, your biggest challenge wills too much info all at once. Lets face it there are so many ‘opportunities’ right now , that if I’m new I will want to know:

  • Who can be trusted?
  • What products are best?
  • Who has the best business?

If I’m a newbie, to answer these questions I will look at:

  • Testimonials from clients and team members.
  • Pages with pictures and screen shots of your results.
  • Your videos, video views and your ratings.
  • How many friends you have on social sites like MySpace, Facebook, and if anyone bookmarks you.

This will all build a newbies confidence in you and brand you as a leader that knows what’s going on before they even talk to you.

Branding…Branding…Branding.

Branding yourself, knowing how to get traffic and knowing how to ‘market’ has never been more important. You’ve got to get the education to get these skills down.

As well, remember that you have to call your leads.

People checking out the market will, on average, fill out 3-10 capture pages from different opportunities. If you take the time to show interest you have a better shot at their business than the business who doesn’t take the time. Remember your branding lessons when you are on the call…Ask insightful questions. Show yourself as a leader, and point then in the right direction.

Offer your products with a money back clause, whenever it’s feasible.

This let’s your customers feel more comfortable with trying out your product. Once somebody sees that your products are high quality, they’ll usually buy from you because they trust you and it’s easier to deal with a proven source.

Practicing all of this on a daily basis in our network marketing business will help us all to capitalize on the state that the economy is in, while keeping our own heads above water.