Times are tough to be thinking along the lines of a starting a home business. Many business start-ups fail when times are good; it is even harder to succeed in this economy. there is, however, a niche out there that does make a lot of sense: network marketing.
Here are 14 reasons why network marketing, also known as multi level marketing or MLM, is worth exploring as a legitimate home business.
Low start-up costs: a typical business start-up could easily range anywhere from the thousands to tens of thousand of dollars. you can start you own network marketing business for literally a couple hundred dollars or less.
Low overhead: The genius of network marketing is that you can start making a profit instantly. you will not have to pay off a large debt load while you are building your business. In some businesses, you will not make a true profit for years down the road.
Debt free: Taking on a large debt to start a business in this economy is risky. Network marketing allows you to build a debt free business right from the start.
Residual: Taking advantage of the power of multiplication allows your network marketing business to grow exponentially. as opposed to most businesses that pay you directly for the work that you do, network marketing pays you for the work that those on your team do. there are other ways to make a residual income, but unless you plan on being the next American Idol or writing a book that hits the new York Time’s best seller list, network marketing may be your best option.
Unlimited expansion: Most businesses that I know of today are cutting back. Network marketing groups will likely grow at record rates as people are forced to leave the traditional job market and try something new. It is a great time to get into an opportunity that many others are starting to consider.
Unlimited audience: Many businesses are limited to a certain segment of the population. Take a restaurant for instance. their only potential customers are those within the vicinity of that restaurant at meal time. In this business, you are only limited as far as the internet reaches.
Low advertising costs: It is not uncommon for a business to spend thousands of dollars each month on advertising. not in network marketing. The person to person approach is your advertising. In modern day network marketing you can use this approach online, personally sharing your message with thousands of people without having to spend a penny.
No employees: Building a large, sprawling business usually correlates with having many employees. It also correlates to being responsible for:
- Interpersonal conflict
- Human Resources
- Etc., etc.
In MLM you have two main roles that lead to building a large organization with thousands of employees:
Look at the difference in the two lists. Which one looks more fun to you? If you can recruit and duplicate, you can build a team of thousands, none of which you are personally responsible for in any way
Do you realize how powerful this is? this one concept of no employees alone makes the business of network marketing totally worth it
Here is a real life example of a network marketer. he had invested the last 15 years of his life building a commercial and residential painting company with 9 employees. In a mere 18 months after becoming involved in his MLM, he had tripled the income he was making in his painting business. Needless to say, he sold his painting company. he now has a team of over 8000 members and growing. he is traveling the world with his family and friends and having the time of his life. he experiences much less stress empowering his team of 8000 than he was managing his team of 9 employees.
The beauty of network marketing is that your team never takes away from your profits–they only add to them. If someone on your network marketing team doesn’t produce you don’t have to fire them, you just keep looking for those that will.
More money: you will never be able to afford to pay yourself the kind of money in a traditional business as you have the potential to make in MLM. The income you can achieve in network marketing is literally limitless–only controlled by the depth of your downline and the generosity of your company.
Leverage the power of the internet: To build a business in the world today and to not leverage the power of the internet seems foolish to me. why not utilize the greatest networking tool in the world, the internet, to draw interested prospects to your online MLM opportunity.
Control your own schedule: one of the primary reasons many people want to start their own business is to control their own schedule. Unfortunately, there is usually so much to do they end up working twice as many hours as they did in their traditional job. through using the power of multiplication, this doesn’t have to happen in network marketing.
Part-time wealth: It is possible to start your network marketing business part time. this allows you to maintain the security of your full-time job until you are making enough to replace your current income. Imagine building your wealth in four years as opposed to the 40 years most people work to barely afford to retire.
In business for yourself but still part of a team: Talk about having the best of both worlds you are your own boss–you determine your own hours and your own strategy. but you also have the resources of thousands of people who have gone before you and those who are working right beside you. why start a business from scratch when you can join a company where those ahead of you have already taken the bumps and bruises. It has been said, If you are going to walk through a mine field, make sure you follow in someone’s footsteps. your chances of survival are much, much higher.
So, so simple: Network marketing is not difficult to understand. as a matter of fact, if you are making it difficult you are not doing it right. once you understand your product and your system, it is a matter of sharing this with others who are looking for an opportunity and duplicating yourself through them. That’s it. this is much less complicated than many other business starts out there. you don’t have to go back to school, you don’t have to hire consultants, and you don’t have to endure weeks of training.
So, there you have it–14 reasons to consider network marketing as a home business.