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Archive for the ‘Building Your Business’ Category

Are You an All Star Leader???

How would you grade yourself as a leader in your industry?  A being All Star, B being Basically Average, and C being Common.  If you are completely honest with yourself and go through a full self-examination, and end up being a B or C, but would like to be an A, great, you can do it!!!  Being an All Star leader simply means you have to be an All Star servant or assistant.  Zig Ziglar said it best, “You can have everything in life you want, if you will just help other people get what they want.” Translation: Assist/serve others.

I went to the NBA All Star Games in New Orleans the weekend of Valentine’s day.  Now, I’m not a big basketball fan, for that matter, sports fan.  But I did enjoy myself and I learned a lot about being an All Star Leader.  At the NBA All Star Games, the NBA players are considered the best in the leagues.  How did they get there? Well, I am almost positive that it had everything to do with their team works and willingness to assist, rebound, and scoring.  They knew and understood that if they wanted to win a game they had to help make easy and success the way of their team mates to get that ball in the hoop. This type of assist made them to be the best leaders in their industry.  Watch this video to see and hear how you can be the best It Works Independent Distributor, or Leader in whatever business you are in.  Then comment below and share this post with other great leaders you may know.  I challenge you to be an All Star Leader.

 

Will you take the challenge to be an All Star in Your Business?

 

Business Building Month

Wow, we are in the second month of the year already.  Time surely does not wait on anyone.  This is why it is extremely important that we take time by the rope and use it wisely.  Most businesses plan their upcoming year in October.  This allows them to look over their current year for growths, dips, declining, etc. and to plan and project what the future year may hold for them. With that, they plan according to their budget, weekly, monthly, and annually.  Sometimes, the month of February is just kind of crammed into the quarter, due to the cold weather, depending on where you live, and people are recouping from the last three months of holidays.

I want you to begin to look at February a little different from here on out.  Look at this month as a wealth building month.  This will be the month that you will take every minute of the day grinding in productivity and building your business by building new relationships with people.  If you are into direct sales like myself, this month is vital for you.   While, I am not trying to force religion on any of my readers, I do want to point something out to you in the Bible.  In 2 Chronicle verse 2a says “And he began to build in the second day of the second month.” If you read further, you will see that King Solomon was building at that time the house of the Lord. He built with only the best woods, the purest golds, and the finest art.  The outcome ended in the most beautifully made temple for God.

Take that information from the Bible and apply it to your business.  If you take the month of February and build with all the resources that you have in your possession, take advantage of every opportunity that will allow you to get in front of people, you too can build an empire full of financial freedom and wealth to help others.  Take a look at these 2 videos to get more on specifics on how you can build your business this month.  Comment below, like and share this blog please.  Thank you.

 

2013 Tax Tips for your It Works Business

It’s tax time! Yes, it is time to prepare your 2013 income tax.  For many of you, this is your first time in a MLM or doing self employment of some sort.  Let me give you a few tips that will help you to prepare for tax season 2013.  Let me say this first, the first day you can electronically file your 2013 tax returns is Friday, January 31, 2014.  So you have a couple of weeks to gather your information if you are reading this now.

It Works Global anticipates mailing out forms 1099 misc. January 23rd and 24th of 2014.  If you have not earned $600 or more, you will not receive a form 1099 misc. from It Works Global.  This does not necessarily negate you from filing any income you have earned doing your It Works Business.  Your income will consist of monthly commissions you receive on the 15th of each month, party cash from wrap parties, and weekly bonuses. Consult with your tax professional or accountant for more information on that.

Now on to the good stuff.  If you have not filed a business status with your state, for example, S Corp, C Corp, LLC, Sole Proprietor, etc., you are considered and Individual.  This simply means that you will file a form 1040 as usual along with a form Schedule C.  For those of you who prepare your own taxes, using an online tax software of some kind, you will be asked for a Business Code.  The code that will work for the type of business we do with It Works Global is 812190 or 812990.  Both of these codes fall under Personal Services which include diet and weight reducing centers.

Some typical things that are tax deductible as an It Works Global Independent Distributor include:

Advertising: Google Ads, Facebook Ads, Blitz cards, Car Magnets, Banner, Website, etc.

Car Expenses: Mileage (going to and from wrap party or expos) or Gas, Repairs, Oil changes, Tolls, Parking fees, etc.  You can only choose one or the other to use a a deductible.  However, most tax software is created to choose the best option for you.

Travel Expenses: Conferences, Bootcamps, Hotel, rental cars

Meals: Any food bought during travel, for entertainment or while working.

Utilities: Cell phone, internet, portions of your home expenses if this is where you conduct your business. These expenses include your utilities.  To calculate the portion of expenses that can be used, you must know the total square footage of your home and the total square footage of the space that you use consistently to operate your It Works business.  For example, if my home is 1000 sqft and my home office is 10×10 which is 100sqft, then I am only able to deduct 10% of my utilities for business purposes.  Don’t be confused, most tax software will do the calculations for you.

Supplies:  Party Pads, brochures, catalogs, saran wrap, scissors, ultimate body applicators, facials, greens, fat fighters,profit, etc.  Your deductible supplies will consist of anything that you uses to keep your business functioning on a regular basis.

I hope this helps everyone. Remember to consult with your tax professional, accountant,  or with the IRS.

How to Market your Business on a Budget

First things first! If you do not have a monthly budget set for marketing and advertising for your business, you definitely want to create one.  This is extremely important if you desire to see and track growth in your business.  Your marketing budget should include: printed material, email marketing, social media marketing, online ads like Google Ads or social media ads.  You do want to consider the free forms of advertising and marketing as well in your budget.  You will be able to track what is working and what is not working.  Below are a couple of videos that I have done to talk about how I market my It Works Global business.  Feel free to leave comments or questions.  Happy Marketing!!!!