Network Marketing…Do You Love It, Hate It, Or Don’t Care?
Are you an aspiring Mompreneur trying to figure out whether to include a network marketing business in your overall business plan?
If so, you’re in good company! Many successful Mompreneurs got their start in network marketing and for some, it remains the primary focal point of their business. For others, network marketing is one of several facets of their business.
Now…let’s be real here for a minute. For many people, the thought of network marketing makes them cringe, while others don’t have a clue about the industry or even care to have a clue for that matter.
Well, wherever you are on this spectrum, I plan to tackle the question with a series of blog posts about the network marketing profession. I want to let you know right up front that this post will discuss some of the advantages of network marketing for Mompreneurs.
Now before you start to roll your eyes and think I’m about to pitch you on my amazing business opportunity, not to worry…that’s not my style! And just to be clear, network marketing is simply one facet, albeit a very important one, of my overall Mompreneur business.
You see, I just happen to wholeheartedly believe in network marketing as a business model, and I’m an advocate for the industry.
That being said, I will be the first to declare from the mountaintops that this industry is definitely NOT for everyone. You heard me right! Despite what most network marketers would have you believe, network marketing is NOT for everyone, and not everyone is right for network marketing.
Well, I hope you now realize you can count on me for being honest and candid! Now that we’ve cleared the air…if you hate network marketing, let me assure you that I’m not trying to convert anyone here (although I am a lawyer and can be persuasive when I need to be!) So, if you think that network marketing is a scam or a pyramid…that’s OK…there’s plenty of people who feel the same way! Let’s just agree to disagree…and still be friends!
And if network marketing is not your thing, please feel free to move on (hopefully to something else on my blog…I’ve got plenty more to share with my fellow Mompreneurs.) I promise, my feelings won’t be hurt! Fair enough?
But, if you ever have given network marketing some serious consideration…then by all means, stick with me here and read this post, as I’m pretty confident I’ll be able to impart at least a nugget or two of inspirational information.
And by the way, if you’re currently building a network marketing business and love the industry as much as I do, then kudos to you my savvy friend!
Network Marketing…A Viable Means To Building A Residual Income
Network marketing, also known as direct sales or multi-level marketing (MLM), is the concept of marketing goods or services through a system of independent business owners. This global industry is responsible for moving over a whopping $100 billion of goods and services yearly, and has produced more self-made millionaires than any other single industry in America.
Would it surprise you to learn that the majority of rich and affluent people have created wealth through some source of residual income? The definition of residual income, also known as recurring income, is money that you are paid over and over again for work you did once. Do you like the sound of that as much as I do?
Would it also surprise you to learn that the field of network marketing has been instrumental over the past 60 years in making the residual income concept very popular, attractive, and attainable! In essence, you can start with a minimal investment, build a business part time or full time, and turn it into a long-term asset that earns you residual income. This is done by building a network of business partners who market the product and thereby generate income outside of your own immediate effort. Translation…teamwork makes the dream work!
The Advantages Of Having A Network Marketing Business
The first advantage of network marketing that comes to mind is that it’s a low-cost business model. Although it takes some investment upfront, it’s considerably less than you would pay starting any other type of business. It’s indeed a system that has launched many entrepreneurs (and Mompreneurs like me) who otherwise wouldn’t have started their own business.
Network marketing is also often touted as a way for busy people to start their own business. It’s designed for people with limited time and flexibility, which means that even full-time professionals or stay at home moms or dads can pursue it.
People from all walks of life, employees and entrepreneurs alike, have increasingly decided to start a part time or full time network marketing business. Why? Well, there are many reasons…financial security, an exit strategy from corporate America, or perhaps (like me) a portal into Mompreneurialship (I know that’s not a real word…yet!), just to name a few.
But amongst all the reasons, the most important for those who pursue network marketing is the power of residual income as a means to creating wealth. Building a network marketing business is indeed one of the most feasible ways for anyone, whether you are an established business owner, doctor, lawyer, accountant, school teacher, blue collar worker, or stay at home mom…to generate recurring wealth.
Now get this. Although the attrition rate in the network marketing industry can run as high as over 70% (which means that the majority of people give up after the first few months), the upside of this is that 9 out of 10 of those who stick with building their network marketing business for the long haul become very wealthy.
Pretty amazing, at least I think so!
So the next question is: Is Network Marketing Right For You?
Stay tuned Mompreneurs…I’ll be addressing that question in my next post!
To Your Unique Mompreneur Success!