10 Reasons Network Marketing Rocks
Let me quickly give you 10 reasons why Network Marketing or MLM is the best business to get in to…!
1. Manageable Small Risk
There is a certain amount of inherited risk involved when you choose to become an entrepreneur.
People in general are not happy with risk, but there are several types of risk. It’s the bad risk we all want to avoid. To avoid risk we need some basic risk management tools – most of the time common sense seems to work pretty well. Like Peter Davies says;
“To have a future in risk management, one needs to include the future in risk measurement.” - Peter Davies, Askari (a risk management company)
Not only do we need to calculate risk for every single scenario throughout the day – and we do it all the time, unconsciously. We like the guaranteed bets and if possible we are not going to leave our “safe zone”.
In business you cannot avoid risk, but you can learn how to minimize it. To start in a MLM program, you only have a certain amount of risk. You spend maybe a couple of hundred dollars to get started and now you basically have your own business.
Starting a Home Based Business is significantly more affordable than starting a McDonalds franchise and the income potential might even be greater in your MLM.
2. Good Quality Products or Services
Some of the network marketing companies have the best products in the world. If you are joining a company registered with the Direct Sales Association (DSA), the company IS a good company and they do have good products – otherwise they wouldn’t be with the DSA.
Providing a good product or a good service is vital to your success in any business. If you provide a great solution, your product or service has great benefits and your customers are likely to come back. Loyal and repeat customers are crucial to any business success. What is a loyal customer?
”The desire on the part of a customer to continue to do business with a given supplier over time” - Sargeant and West: Direct and Interactive Marketing 2001
As a distributor in a network marketing program, you only get paid when you have customers. If they for some reason stop purchasing whatever you provide – your earnings will stop.
3. Residual Income
Residual income combined with the idea of getting paid a little of a lot of people’s effort instead of 100 % of your own effort, is the biggest benefit in network marketing. This is what all the big dogs on stage are presenting to the hotel meetings, to get new folks hugged.
The residual income goes hand-in-hand with the demand and quality of your products/services. When you acquire a new customer, you are getting paid residual income on this customer as long the customer stays on the books. Most companies have some sort of auto ship process to ensure that customers keep buying months after months.
Do not let this auto ship process fool you, your customers are not going to stay on the books forever – not even if you provide a phone service and they use the phone every single month. Some professor once told me; “Nothing good ever comes from being a loyal customer. You can always get a better deal.”
4. The Income Potential
This is a funny one. EVERYBODY seems to think they have the great opportunity with their MLM program. Trust me when I say; “There will always be a bigger fish!”
But no matter which company you choose to get involved with in network marketing you have no cap on how much money you can generate with your MLM opportunity. That is of course if it’s a good company and they are not going to cut out the distributorship – like Excel communications – or make an Enron on you.
No matter when you get started with your network marketing company, you have the opportunity to make big bucks. Yes, that’s even if the company has been around for 15 years or more. You just need to know how to effectively build a business.
In the corporate world, we’re so used to trading our time for money. A guy at once told me he didn’t get a salary to do his job, he got compensated for lost spare time. I have to admit I laughed, but even though he was funny – he was right!
Your skillset is the key to your success and what your income potential is. Once you’ve trained yourself to become a marketer and learn how to build a business from scratch. You can make just the amount of money you think you’re worthy of making and truly believe is possible. Again, there is no income cap – only in your mind!
5. No Employees to Hire
A great part of being a business owner in regards to owning a network marketing business is that you do not have to hire employees. You don’t have to get worried sick about your employees’ skillset, their level satisfaction and commitment, lateness, quitting, injuries, insurance or the costs and time involved with managing your people.
You don’t have to worry about any of the just mentioned factors, and you still get to leverage of other people’s efforts. In network marketing you have the benefit of being in business without employees and the concerns that goes with it, simply by having a network of independent business owners working together towards a common goal.
6. No Inventory
Back in the days, the network marketing companies would have their distributors stack up on inventory. Many got hurt in the process of trying to build a business; they had no friends left (after bugging them for several months), a garage with tons of products and no money in the bank (the money is in the products in the garage)
Today’s network marketing companies do not require you to purchase a ton of products to grow your business. Some might recommend you to, simply to reach a higher level in the compensation plan. Seriously, what good does that do you and your business if you do not have any customers? Your leadership level doesn’t matter, not even the qualification level to get compensated for your customers’ purchase – if you do not have customers…
7. Low Operating Costs
The network marketing model makes it possible to run a business at low costs compared to any other business model. This is where your upline 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
In network marketing you have the benefit of leveraging on your organizations effort. This is the concept of getting paid 1 % of 100 people’s effort instead of getting paid 100 % of your own effort. As Jean Paul Getty said:
“I would rather earn 1% of the efforts of 100 people than 100% of my own.” -J.Paul Getty, Billionaire
The beautiful part is that you’re not limited to 100 people. You can get paid on thousands and thousands of people’s effort, even when you’re playing golf, on vacation with the family or whatever the case might be. Working or not – you’re getting paid.
9. Portability
A lot of the Network Marketing companies provide you with the opportunity to do business in several countries. With the technology we have available today, you’re capable of building a business in multiple countries without ever leaving your home.
Actually, you can even have a laptop with a broadband access to the Internet and a telephone, you have a completely portable office and you can continue doing business while you are on the road, on vacation or visiting relatives and you can do it from almost anywhere in the world.
10. Financial Freedom is Possible
Can you imagine having a successful, striving business, producing cash on demand? Having your own personal ATM machine. Having the freedom to live the lifestyle only the rich and famous enjoy.
That’s the big dream, the most common big reason WHY; becoming financial independent, the income potential, the concept of leverage. When all the pieces are in place, the lifestyle following the success of a Home Based Business owner can be very fulfilling indeed.
One needs to know how to get there, when you learn how to be an effective marketer and a productive business owner, your wildest dream can come true.
If you didn’t snatch up your copy of: “The Power House Report For Network Marketers” you can still get YOUR copy for free here. Find out why 97 % in Network Marketing fail and what you can do right now to avoid being a statistic.
Filed under: Network Marketing
