One of the best descriptions for “Network Marketing” that I heard the whole weekend at Network Marketing Pro – Eric Worre event –
“Network Marketing is a Journey of Personal Development…with a Comp Plan”
I truly believe Network Marketing / MLM / Multi-Level Marketing / Direct Selling as a whole gets a bad wrap. I also believe this comes from a lack of understanding of the value being an Entrepreneur can provide a person and family. In traditional business you get a job and become comfortable in your job position and what you do day in and day out. Traditional business environments do not push you to become better, to evolve, to grow financially, mentally, and spiritually.
Because typically people (and especially people above you) are uncomfortable when someone else is growing and they’re not. They don’t want you to outgrow them. Out pace them. Out shine them!
This is so different in Network Marketing. You only succeed when you grow….when you help others below you grow and become better. How cool is that!!
Also, being an Entrepreneur for over 20 years and understanding all the facets of starting and running a traditional business. It’s tough! Why do most businesses fail within 3-5 years? Because there are so many things you have to worry about that in Network Marketing you do not.
Let’s analyze a few of the simple headaches that Network Marketing eliminates vs traditional business model.
1. Small amount of risk: There is a certain amount of inherited risk involved when you become an entrepreneur.
We are confronted with losing money, wasting time, not being in profit right away, etc. In a traditional brick and mortal business, the startup cost associated with opening that business is what holds many people back from becoming the creators of their own destiny.
People do not like risk and try to avoid it by all means. We’d like a “guaranteed bet” and stay within “our safe zone”. In business, you don’t eliminate risks you learn to minimize them.
The advantage of starting a Network Marketing business is that there is a small risk to get started. With a couple of hundred dollars, it is possible to get started with a company of your choice, marketing products that you consume already. The amount of financial commitment is insignificant compared to that of traditional business.
2. A huge demand for good quality products: There are a myriad of network marketing companies that promote very good products. If I were considering a company to get involved with, I would always ask myself:
- Would I still consume these products/services if there were no opportunity to market them?
- Do these products bring any benefits to a consumer besides the opportunity to make money?
- Would I bring “value” to my customers if they consume these products?
Every business needs repeat customers. Network Marketers only get paid when they have consumers for their products and when these customers continue that consumption, then that creates the money flow.
3. Residual income: I am sure that you pay your gas, your electricity, and your phone bill every single month. These are the types of services that for the most part provide an ongoing stream of residual income for these companies.
The greatest advantage of an Network Marketing is that it gives you an opportunity to enjoy residual income just like those companies do.
When the initial effort of getting a new customer is completed, you can enjoy the residual part of that business relationship.
We are so used to trading our time for wages that we often times don’t see the potential residual income of Network Marketing. By direct selling your products, you can also claim your share of the residual income pie.
4. The income potential: There is no cap on how much money you can generate. In my corporate jobs, my big limitation was that regardless how hard I worked for these companies; my income was tied to a “market standard” for someone with my skills.
In an Network Marketing, that’s not the case. It is up to you to decide how much you want to earn. A Network Marketing company doesn’t hold you back in the same way the corporate environment does.
As long as you have the skills set of a trained network marketer, you make whatever income based on your stamina, dedication, and your willingness to help others.
The skills set is key. Once you trained yourself to become a marketer, you can market anything you choose and generate that income you seek.
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5. No employees to hire: By far, this is a clear advantage over traditional businesses. Network Marketing is a business of people independently working together.
Without any employees, it’s possible to build a business right from home. This industry gives you that added benefit, be in business without employees concerns, by having a network of independent business owners working together towards a common goal.
6. No inventory: Traditionally Network Marketing companies would have distributors stack up on inventory. This concept alone has given the industry a bad wrap for years.
However, modern companies do capitalize on the technology and tools we have in place. We have:
- Internet Telephony
- The Internet
- Drop Shipping Ability
- Consumer Leads
- Conference Lines
- Web Conference
- High Speed Internet Access
Not having to inventory products will make your business more agile to any market condition.
7. Low operating Costs: The network marketing model makes possible to run a business at low costs compared to any other business model.
This is where your upline’s support should come in. A good upline mentor should allow you to piggyback on his expertise, on his knowledge, on his leads, and help you generate the funds to pay off your initial investment and get in profit early in the life of your business.
8. Leverage: Network Marketing is a:
- people business
- business of appointments
- business of helping consumers find what they have the need for
- business of helping others create businesses.
You reap the rewards by leveraging the efforts of those you help. This develops a collective mindset that promotes “win-win” relationships.
9. Portability: With the advent of technology, we can do today what distributors 15 years ago could not do and that’s to make our business portable.
We now have a phone technology that allows you to take your telephone and move it anywhere you like transparently to your customers.
As long as you have access to the Internet via DSL or Cable, you can take your computer, your phone, and continue doing business while you are on the road, on vacation, or visiting relatives whether that be in another city or another country!
10. The attainable freedom: Imagine having a productive business in network marketing providing you with a lifestyle that only the rich and famous enjoy. When all the pieces are in place, the life of a marketer can be very fulfilling indeed.
That’s the dream every new distributor chases and it is only attainable when there is a clear understanding of how to get there and when your marketing skills are sharp.
It is not just the money, but the fulfillment of a lifestyle that makes Network Marketing the best business to get in and your skills is what make it happen, period!
With all of these amazing benefits that a new Network Marketer is provided….why is there ANY uncertainty? Be certain to at least pay for your monthly subscription or auto-ship but be certain to make it work or don’t start at all!
I wish you all the amazing success being an Entrepreneur provides and the amazing journey of owning your life and responsible for as big as you want to be!
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So much love,
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