"If I had to do it all over again, rather than build an old style type of business, I would have started building a network marketing business."
“Of all the entrepreneurial opportunities available today, one of the most important is direct selling, also called network marketing.”
But is it right for YOU?
As a professional network marketer for over four years, I can 100% attest to the life-changing awesomeness that having a network marketing business can provide. Time freedom, financial freedom, early retirement, personal growth, amazing relationships, travel, free cars, trips, tax benefits... and the list goes on and on. I can also 100% say that it is NOT for everyone. It takes a special type of person to run their own business, be self-motivated, consistent, and all the other variables that go into becoming an MLM success story. Here is my take on the industry, what you should know, the questions you should ask, and pros and cons to starting your own network marketing business.
Choose the RIGHT company.
I can't stress the importance of this enough. The reason network marketing companies (or MLMs) have a bad-wrap is because not all of them are legit. Yup. Some of them ARE scams, some of them have bad management, high debt/income, faulty or un-patented products, iffy compensation plans, etc. I'm sorry, I just scared you didn't I? Now that that is out of the way- DON'T WORRY, they aren't all that way. Just be sure to be diligent when researching.
Where do you start?
I recommend that you start with someone you personally KNOW that has has success, or a referral by someone else that personally knows someone. REAL SUCCESS. Not 'Woohoo, watch me post lots of pictures about kicking booty on social media' kind of success but has a moderate track record (2+ years in ONE company), i.e. not jumping from company to company, has earned some of the 'perks' (all legit MLM's have said perks), cars, trips, bonuses, etc. Most MLM's don't allow income disclosure - so a great way to gauge someone's success is to look at what perks they have achieved. These cars/trips/incentives usually come at the higher income ranks of any company. Reach out to that person and ask to have a conversation or sit-down! I feel the BEST way to get past the 'shiny fluff' of any company is to ask good, hard questions directly to a real live person.
What questions should you ask?
If the person you are working with is any kind of savvy, they won't get offended by hard questions, won't get pushy, won't try to hard-close you, etc. If you start feeling icky- RUN. This should be an educational conversation and they should be okay with that. A good network marketer will WANT you to WANT to join them, they won't try to force you. So here are a list of Questions to ask when looking at any MLM. Additionally, I would find out the following from your personal contact:
Benefits and Cons of Network Marketing:
When I was looking into starting my own network marketing business it was because I was ready to start a family and get OUT the corporate grind. Time freedom was a must. Along with flexibility, extra income, and being your own boss, there are many benefits to starting your own network marketing business! Lets start with a few of my favorites and analyze the pros and the cons.
1. Flexibility/ Time-Freedom
2. The Money
3. Relationships / support
4. A Low-Start-up Cost / Little to no operating costs
5. Social Media Marketing/ Warm Market
Lastly, there will ALWAYS be a little voice telling you not to jump, not to follow your heart, to play it safe. My advice is to live with passion and do the thing that calls to you! Regardless of what anyone says- you can DO ANYTHING that you put your heart and soul into. Let passion lead the way, choose a great company, a solid sponsor and give it a shot! At the end of the day - what do you have to lose?!
Cheers to you and your success. I'd love to hear your thoughts. Drop a comment below and please include any other training topics you'd like to see me teach!
Think network marketing is right for you?
Check out the BUSINESS section of Stefanie's website. After helping hundreds earn supplemental income, Lexus Car Bonuses, 5-star vacations, and find time freedom she can help you move to the next step!
Lots of fancy unused education. Podcast Coach, Clarity Coach, & Top #25 Ranked Podcast Host for Christian Entrepreneurs.