Borrowing from your credit card to invest in your online business or home-based business: good idea or bad move?

This is a great question that was posted on Work From Home Board by Debby Stewart. I wanted to share my response here.

From Personal experience, I say don't do it.

In my first business 6 years ago (an MLM) I invested over $1500 in products that were difficult to move and I spent about $1000 a month in buying leads. It was a lesson learned.

Long story short. If I were starting all over again with very little money, I would start with free advertising like free classifieds, blogging, article writing, squidoo etc. and then I would roll the profits back into my business until I could start doing some paid advertising like pay per click.

The only thing worth investing in would be personal development products that would help to teach me the skills that I need or perhaps a proven system to help me be successful. For example 2 years ago I invested in Mike Dillard's Magnetic Sponsoring. Because I wanted to learn how to "attract Prospects" rather than buy leads. It was a great investment.

Make sense? So I would only invest in personal development and do free marketing until I gained the skills to be successful.

I hope this helps.

~Wendy

What do you think? Borrowing from your credit card a good investment or bad move?

What is the best system to generate traffic without going broke?

On one of the forums that I belong to someone asked, "What is the best system to generate traffic without going broke?". This is a great question. All over the internet there are many people advertising that they have a system the "does it all for you". I'm sure you have seen those too. I can assure you that is a lie. I promise you over the last 6 years I have seen it all and checked out many "systems". Here's what I learned....

There isn't one system or method that will bring you traffic. But there are many ways very inexpensive ways to generate traffic to your site. Mike Dillards Building on a budget course is excellent for newbies learning how to build on a budget.

I use many methods to generate traffic to my sites.

Here are a few of the free methods that I use.

Squidoo is my number 1 method! I get huge traffic and it is free + you can get paid with them.

My second is my blog.

3rd is forums. Just write good content and never advertise. Place you link in your signature. When people like what you write, they will often visit your website to see what you are all about.

I also utilize facebook, twitter and myspace...........all free.

You just need to invest the time and don't ever directly market. Instead build relationships and help others. When people like what you have to say, they will click your link or visit your profile in order to check it out. It's pretty cool.

Attraction Marketing Reviewed

In Network Marketing you are constantly learning new things. You also learn a lot of lessons. Here are a few of the lessons I learned in 2008.

The first lesson was that old school methods like buying leads, home parties and bugging friends and family don't work. People don't want to be prospected. So I learned to become the leader that people would want to follow and people began coming to me.

I also learned that you need a proven duplicatable system to grow your business. This way your new prospects can easily follow you.

So I began researching different systems and signed up for two of them.

Both systems were very similar. They both focused on attraction marketing. They both had wonderful resource's to teach you the skills you needed to be successful. I loved them both and learned a lot from both of them.

Now in 2009 after incredible statistics and results I have decided to only use one of those two lead generation companies. Can you guess the name? It is Magnetic Sponsoring.

How did I decide? Well it was pretty much a no brain-er. First of all I don't have to pay for a website (The other system charged 19.95 a month). Second, I get paid to prospect. What this means is I get a check whether the person signs up or not. Last January I earned over $400 from Magnetic Sponsoring.

Learn how you can attract Prospects and distributors for Free.
Click Here for Free Video.

~Wendy Krick

Free PPC Leads

MIke Dillard Just released some new training material about PPC advertising. They are producing 150 leads a day. PPC is one of the best ways to generate traffic to your website. However there is a right way and a wrong way to do google adwords. Why not learn the right way from MIke Dillard?