Royale Business Options Basics

Royale's a good stepping stone for new businessmen

If you are new to Royale or is an old member but hasn't really explored what it offers, this blog is for you.

Most Royale Business Presentations focus on either the franchising aspects or the networking aspects. But there are really 3 main business options you can go into in the business club. These are: Franchising, Direct Selling and Networking.

Franchising

The Good - For people who really want to go into business but are not yet sure how business systems work together, franchising is the way to go. It's like a Business 101 practicum. You learn the basics of Operations, Margins, Accounting, Being a Boss. It also introduces you to the world of selling - softly.

The Not so Good - Franchisees usually leave the Marketing to the Franchisor which is really a waste of opportunity. Marketing is an essential aspect of business and is something you definitely have control over even if it is just small-scale. For seasoned entrepreneurs, franchising sometimes pose a challenge since you don't have all the control you need.

How to make it work - As with most businesses, location is essential. This is why Royale's franchisors' offer for a site-locator service is very useful in my opinion. Aside from a good location, it would really help if you do some form of marketing on your own such as go house to house to introduce your business locally. You can also expand your market by delivering to your neighborhood.

Direct Selling

The Good - The best part I see for a direct selling business is that you set your own limit. I have met people who earn 6-digit net incomes from direct selling. It also introduces you, sometimes harshly, to the wonderful world of Selling. Here, you cannot hide behind your office or cart while letting the brand or your employee sell for you, you do the selling yourself - which is a good thing by the way. If you want to go into business, you have to learn to sell.

The Not so Good - Direct sellers are usually go-getters but most do not see how business systems tie up together. Since you can succeed with a one-man team (yourself), it does not present a multi-faceted challenge of running an operation, marketing, managing staff and taking care of your brand.

How to make it work - Use the leverage of other people's time (OPT). You can form a team to sell for you, if you give away part of your profit. You earn less but offset this by selling more with less effort. It also pays to know your product very well and not just repeat what other people tell you.

Networking

The Good - Among the 3 businesses, network marketing offers the biggest income potential due to the fact that it heavily employs leverage. Once you take the time to build a network, income generated from your network base can become a good source of passive income later on. It also allows you to earn big money with little capital and also teaches you to sell.

The Not so Good - Networking is viewed with a stigma, which is really sad since it drives people away from a business that they could build big with little money. Also, the sweat equity you need to build a network could be substantial. It's not a surprise that only people who have learned to handle rejection can succeed in this type of business.

How to make it work - Develop your mental toughness and learn to handle rejection. Just like building a traditional business, you can employ systems in the people business to help make it grow. Train, train and train some more, most of us initially have very little skills to succeed in this business right away. It may look simple, but it actually isn't, just ask the millions out there who claim they got 'burnt' by this sort of business.

You can choose to do just one type of business or you can combine two or all three. Just don't spread yourself too thin. Remember: What you focus on expands. It's much better to focus on one than to do all and succeed in none, right?

In the next topics, I'll thresh out some details on what you can do for each business type to enhance your chances of succeeding.

Lastly, don't be afraid to fail. I read a quote before saying that failure is not success' enemy, rather one is necessary for the other. Do you agree?

Til next time!