As the owner of a new MLM business, you know only too well that dealing with the unexpected and the unpredictable is a simple fact of business life. The ability to guide your company through times of uncertainty is an asset well worth cultivating with a focus on MLM best practices.
But you also know that great leadership requires the ability to control what is in your power to control, to give people clarity, direction, and a sense of security, to chart a course and set goals your people believe are attainable.
Although the topic we will here engage, Your MLM Accounting System, may seem at first glance to be about as interesting as watching grass grow, in reality this discussion may prove to be the backbone of a renewed understanding of one of the most important and fundamental systems in your network marketing business. Your MLM accounting system can be, and should be, the place to which you turn and rely on for safety, certainty, and reliability. It’s one of your most potent starting points for decision-making and action.
If you already have your accounting systems in place, or if it’s something that your accountant or other professional will handle, then of course you will not need to take as much time with this section. On the other hand, because your MLM accounting system is made up of those tools and activities that collect data about every financial transaction your network marketing business will make, you will benefit from organizing the data in ways that transform the raw data into information you can use not only to comply with laws and regulations, but to give you the ability to quantify the actual results your business produces so that you can make decisions based on reality rather than guesswork.
Your MLM Accounting System is an add-in to the LaunchSmart workshop and learning system, created to address the unique needs of direct selling companies through the implementation of MLM best practices.