Business Setup

Welcome to iCB's Business Setup Webinar
Now the mechanics of setting up your Home-Based
Business is actually a pretty simple process.

You come up with a Business name and then you
setup a checking account. Then you setup an
accounting system and make a projection. And
structurally, that's about it.

But… if your goal is to be a Successful Home-Based
Business Owner… There's a little more to it.

First, you need to understand the key components that
make up a Home-Based Business Model; the Individual,
the Company and the System.

The Company's role is to provide you with a product or a service to sell, the means to distribute that product or service to the consumer and a compensation plan.

The System's role is to provide you with a pattern that you can follow to bring in new customers and IBOs and the process to teach the Pattern to everyone. And the System is also responsible for creating the culture that can help you develop into the person you need to become to achieve your dreams.

And the Individual's role is to build a business big enough to achieve their dreams.

I think you can see how all three of these components are interrelated.

Without a Company, the ability for the Individual to generate income is nonexistent because you have nothing to sell. And without a System, it's almost impossible for the Individual to build a large organization that stays together.

Now the System will have more to do with your success than anything else… because it's the system that will create the attitude that will lead to the action.

So, the first step that we recommend you take in building a successful Home-Based Business is… Get setup with the System.

The iCB System consists of our 8-Step Pattern, our Weekly Broadcasts, our Quarterly Events, and our Daily Activities. Just click on the Pattern, System and Live Events tabs of the System Site to learn more.

Now, before I share with you the next step, I'd like to have you buy into these truths:
  • 100% of the people who are not in Network Marketing have no clue what it is and how to build it
  • 95% of the people who are IN Network Marketing have no clue what it is and how to build it

If you can buy into these truths, you'll stop listening to people who have no clue how to build a successful Network Marketing business.

That includes your neighbors, your family and friends, your work associates, even your boss and other very successful people that you know. Just because a person knows how to run an automobile dealership, doesn't mean they have a clue how to build a successful Network Marketing Business.

Oh yea, there is one other person that you probably don't want to listen to either… yourself!

It's just common sense… if you just step back and look at it; if the newbies getting into this industry knew how to build a successful Network Marketing business… the failure rate wouldn't be so high.

So, in spite of everything that you have heard or have been told… one of the first things that a person needs to do to become successful in this industry is to Get your communication lines in. You have to know who to get information from and who to give information to. If you fail to do this step, there is a 95% chance you are getting direction from someone who has no clue.

And the person that you need to get connected with probably isn't your sponsor. Now, in some cases it is, but most often… it's not.
There is not a hierarchy in Network Marketing like there is in the corporate world. There is absolutely nothing wrong with going upline, above your sponsor, for direction. Your upline can direct you as to who you need to get connected with.

And I can tell you this, the person that you're going to get connected with, will be following the Pattern and they'll be plugging into the System. That's why our first step is… to get plugged into the System. Because the person you're going to get plugged into, will be there too.

NEVER TAKE DIRECTION from a person who is doing their own thing because you'll never become bigger than the source you are plugged into. Our 8-step pattern has produced more than one million active people in this industry. If you follow our pattern, you can have more than one million people in your business too.

Now that you are plugged into the System and you are connected to your Business Development Team, it's time to do those structural steps.

For you to have a legitimate Home-Based Business, you will need to establish a name for it. Pick a simple business name that you can use as a schedule C for your home-based business. (i.e. "J&L Enterprise")

Next, we recommend you get a separate EIN number setup under your Business Name. The EIN number is important as we show you how to establish Business Credit.

You can CLICK HERE to get your EIN set up.

Next, we recommend you open a checking account under your Business Name, using your EIN and then fund it with at least $100.

Next, we recommend you setup your accounting
system. Make sure your accountant has a good
understanding of Network Marketing. If you need
an accounting system, you can watch a short video
(To the right) of how to use our Cash Flow Manager
to track and record your tax-deductible expenditures.

Next, we recommend you setup a monthly projection
for your first year and an annual projection for 5 years. 
CLICK HERE to download a simple template that you
can follow to assist you in this process. Check with
your Business Development Team for more information.

Next, you will want to get with your tax preparer to
assist you in recalculating your withholdings on your W4 Form for you job.

CLICK HERE to go to an online Tax Withholding Estimator.

Many IBOs find they have a substantial increase in their take-home pay after their W4 form is updated.

And now that we have the structural part of your Setup done, we are ready to go into the Business Production phase.

Your Business Development Team will get you plugged into this webinar.

Congratulations and good luck building your Home-Based Business.

The IBO Training section is for IBOs only! iClub BIZ does not make any income guarantees. We will make available certain business support materials in hopes that they will assist the IBO in building a strong and profitable business but in no way are we making any guarantees.
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