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How long to stay with a business opportunity that you are not making money with?

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Do you have a certain amount of time that you follow before you quit a business opportunity and move on to the next one?  What are your guidelines before you call it quits?
asked Oct 22, 2016 in Business Opportunity by marketwithkris IBO Specialist (42,190 points)
If no one took action after sending at least 1000 visitrs to your offer then you should start thinking hihihi

9 Answers

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I was listening to a webinar recently that included a couple of excellent online business people. They were discussing the actions of successful entrepreneurs and what they did to ensure that they didn't waste time and money on 'loss' ventures. Whilst they were talking specifically about affiliate marketing type ventures, you can relate this pretty much to any business scenario.

The key points that they made is that the successful entrepreneur first researches a potential niche ( or business) to find out initially what level of interest there is from the public. Secondly they would trial a business and give it full tilt attention to get it up and running and give it the best opportunity to succeed.

But the key is to let it go if it is not looking like it will work. But it doesn't mean stop the business, it just means try another niche, try another tactic,  try different methods of promotion etc.  Too many people (myself included) hold onto a website or a niche that we are marketing because we have put effort, time and money into them, only to get discouraged about it all rather than just moving and trying something different.

Remember - Test short / fail short.    Be prepared to fail on the road to success !
answered Oct 25, 2016 by NiuSavi IBO Guru (1,170 points)
selected Oct 25, 2016 by marketwithkris
A lot of good points here that make a lot of sense!  Thanks for sharing your thoughts!
7 like 1 dislike
If the program is useful and the person that signed me up is still working with me. I wont quit. I have almost always quit because I had to much expectations for the sponsor.  If I realize that the program is just a churn and burn I usually quit in 90 days or less. The program I am in now I have worked with the same guy for over a year. I have learned so much from my sponsor. He built an organization that has retained over 80% of the people for more than 5 years. He doesnt sell the products have a capture page or email auto responder.
answered Oct 24, 2016 by RikRodriguez IBO Guru (4,120 points)
Great story Rik, thanks for sharing!  Sounds like your sponsor is doing some good working with his team!
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Before I normally join any business, programme or service offered, I normally do some research to see how the existing business aligns with what I am doing. That said, as long as I can still see benefit from the programmes services being offered, then making money would not be much of an issue as one of my key objective is  still being met by the business so I would stay with the company and stick it out.
answered Oct 25, 2016 by garywelsh IBO Specialist (70,730 points)
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I think anyone can prosper in the niche if they are solving the right problem for the right audience. Most people are just shooting from the hip and now you can have research done for as little as $5 to hit the correct target market.

Knowing how to go out before you start makes all the difference in the world. If you're marketing to people with struggling budgets and your product cost $400.00 bucks to start then you need to go to the people with $400 buscks to start and from there it's just numbers ...

Took me some time to figure that out but you can WIN big when you learn it.
answered Oct 31, 2016 by bigticketguy IBO Guru (1,850 points)
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That's sort of a trick question... I have worked various MLM's and biz opps since 1994 or so and through the years I've talked to MANY MANY people about this subject in one way or another. 

I discovered early on that people's "tolerance" for risk and pain was WIDELY varied...

Some would spend every last cent they had to place some ads or further their knowledge to get ahead and some wouldn't toss a penny into a wishing well even if it was guaranteed to pay out like a loose slot machine.

In regards to how long to stay with a business opportunity that you are not making money with

Here's what my years of experience showed me..

Some people will work an offer for just 4 days then all of the sudden bail like their ship was going down once they've sniffed out the "next" HOT offer. Some will work a business for years even without doing much better than breaking even.

Quick Note: Those "4 day bailers" usually never work ANY program they find... they are so busy scouting the "next" money making program that they never work the one they're in. 

They seem to think the offer(s) will just start paying them money without doing anything.

It really depends on you... If I were talking to a lead on the phone or by chat let's say and they asked me this question about the business opportunity I was pitching, I'd say, "Well that depends on how you're going to advertise or promote this offer"... "If you give it a hobbies effort you'll get a hobbies result".

I'd also say, "If you're not going to put money into this and place ads or try and duplicate my efforts you're better off not even joining". 

This is a "safety" question.... a "develop an exit strategy BEFORE I really start to advertise" question... these questions never imply that a person plans to stay long term. 

It's like a person that wants to buy XYZ product, but asks the seller what their refund policy is... 

I don't think there is any "standard" answer one can give here... only the individual can determine that answer.

No business is successful without time in the trenches

If you're spending money without generating leads then question WHY then learn how to correct that. 

If you're building a list and gaining subscribers, but you get no feedback, make no sales when doing a broadcast or people are unsubscribing left and right question WHY then learn to correct that.

If your solo ads don't produce fruit ask WHY then learn to write better ads... learn how...learn what makes people buy.

NO business will dump cash in your closet on autopilot without time and effort put in.. the ones they say they will run fast the other direction.

Telling someone a time frame to bolt on a business is impossible, because we don't know the work ethic of that person. 

This is MY 3.5 cents on this matter hope it helped you

 

answered Nov 11, 2016 by ecommercepro (830 points)
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First of all, we have to evaluate if we've really put in the work. Have we done what is necessary to be successful?

If not, it doesn't matter what business we're in. We'll carry the same results everywhere until we're willing to do whatever it takes.

Once we're focused on the right income producing activities, give it a year. Shoot, give it five.

If the company is solid, the marketplace demand is strong, others are being successful at it, and the compensation package is lucrative, we're the only thing that is left as the variable towards our own success or failure.
answered Dec 7, 2016 by gosejd7 (550 points)
Jimmie, you are so right when you say "we're the only thing that is left as the variable towards our own success or failure".  My thoughts are "if it's gonna be, it's up to me"!
4 like 1 dislike
The definition of insanity is...

I think you make adjustments and try new strategies.  If you do not say favorable outcomes, the question to ask oneself will be "Why did I start in the first place?"

If you are not willing to make corrections and grow and be able to handle failures, maybe success is not your cup of tea...or shot of tequila.
answered Dec 9, 2016 by ToddTreharne IBO Specialist (43,090 points)
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How long would you stay on a job that did not pay you?  If your online business is intended to replace your income then the answer is obvious.  However, If you are doing the business because you love what you do then you stay until you see a return.  I have found that the problem with many online entrepreneurs is that they depend on Free traffic to get their businesses on solid financial footing.  In most cases this will NOT work.  It takes too long to see results.  You have to invest in the business, invest in yourself and invest in advertising.

The miracle of the Internet is that there is a customer for almost any product or service that you can imagine.  If you have joined one of those fuzzy business enterprises or you follow every new launch, new shiny object online then you will probably NOT see a return ever.  What is worse is that these "fuzzy" business cannot stand the test of time.

I always suggest that individuals have a back up plan or a supplemental business that feeds their main business.  You don't want to give up too soon but if you are doing all the things that you can and still see nothing in your bank account it may be time to jump ship..

I wish you all the best and loads of prosperity.
answered Jan 3 by vginasands (820 points)
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My views on this have changes somewhat. In the past I was all about making money only however, in later years I have noticed I now tend to stay with a programme till it dies. Why? Most of the programme that I join must be able to complement and aid my existing business and as such I have found it easier to cope and do well in them even if other do struggle as sometime it is not just about the quick money you can make from a programme but instead the added benefits the programme offers outside of its compensation plans.
answered Mar 15 by garywelsh IBO Specialist (70,730 points)


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