Business Process Explained
Simplified business process
This article is about a simplified business process that many people working from home can execute and get rewarded for by the company. Home Based Businesses typically execute 4 business processes. The company offering an income opportunity usually has very much simplified the actual processes so that they can be executed by individuals after basic training or no training at all.
In fact, the company is outsourcing specific - scaled down but essential - activities of their business processes because it believes that by doing so, they can sell more products in a shorter time.
Business Process Explained
There are 4 basic processes that can be done by individuals working from home using a system that has been set up by the company. There are different shapes and forms but these are the basic ingredients you need for anyone wanting to start his own business working from home and make money in a legitimate way.
Marketing
To enable you to make money, you will start by putting out your name and products in the best way that works for you personally and the group of people you are targeting. In these groups there are others interested in your business or products. These are called leads. These leads now are waiting for more information from your side to enable them to make a decision.
Steps: advertise -> generate leads
Lead Qualification
Once you have a number of interested people who have responded to your marketing efforts, you now call them back to further investigate if they are seriously interested or ‘just looking around’. The ones that are serious are the people you want to take the next step with: providing more information. After that you simply collect their decision which is called Sales.
Here’s something I found out about online sales: Most people, including myself, are not good enough sales people. They simply lack the skills and patience to ‘change other people’s brains and opinions around’.
That’s the reason why you see that a lot of income opportunities that don’t rely on any sales activities but rather promote a freedom of choice: they allow the potential customer to make his or her own choices rather than trying to convince them of someting.
Steps: qualification of leads -> provide information -> collect decision -> receive payments
Admin, Training and Team Building
Some of the people will actually buy products or start the business with you. Now it is a matter of supporting the most serious people in your group to allow for strong team building and generating more profits over time.
Steps: assist with start-up -> ongoing support and training ‘on-the-job’ -> receive payments
Companies who have found ways to optimize these steps in a repeatable fashion are positioned for strong growth and likely to be generating money for a long time. Worth investigating!
Payments are usually received as profits for selling products and parts of profits for building succesful teams. Finding the right combination of both will optimize your financial results.
Next entry: Why work from home?