Heard the Network Marketing buzz? Want to know what the fuss is about?
There are more than 30 million people involved in Network Marketing (aka Multi-Level Marketing or MLM) world-wide. There were more than $110m of sales in over 145 countries world-wide. The industry has grown by a staggering 90% over the past ten years - something must be right!
Let me explain...
There are a few ways to make money, for example:
Work for someone else (traditional employment)
Work for yourself (self-employment)
Network marketing (self-employment with support)
Work for someone else (traditional employment)
Working for someone else is the traditional way in which people make (earn) money. Essentially, you swap your skills or time for money. The rarer your skills or the longer hours that you work, the higher your value and the more money that you earn. That's why a surgeon gets paid more than a road sweeper - both perform valuable roles in society, but it takes a long time to become a surgeon.
Working for someone else is considered "safe": you have a job, income, prospects, etc. However, in today's economic climate, people are now realising that there's no job for life any more and wages don't always go up every year, jobs are not secure, pensions are mainly worthless.
Working for someone else is not considered "safe" any more!
Work for yourself (self-employment)
You could work for yourself as a self-employed person. In fact, there's been a significant increase in the number of people starting their own businesses in the past year or so. People have realised that traditional employment doesn't always provide what they want - or maybe they have been made redundant. To get true work-life balance, then you have to take control yourself.
If you have skills, then you charge for their use; you may open a shop, workshop or business providing products or services. Starting a business may require a high capital stock, buildings, equipment or people have to be hired or bought.
Your income is limited by your skills and the time you can work and you don't get paid when you're on holiday or off sick. You could employ staff to increase your income - employing people comes with its own headache!
According to Dun & Bradstreet and INC. magazine, 33% of all new businesses fail within the first six months. 50% of new businesses fail within their first two years of operation and 75% fail within the first three years.
Working for yourself is risky but can have rewards
Network marketing (self-employment with support)
Then there's Network Marketing - with all the advantages of self-employment and none of the disadvantages. You work for yourself but you have a company backing you - so you get supported and trained.
But how do you choose the best network marketing company for you? Here are ten questions you should ask:
Is the company well-established or a start-up? You don't want to work hard creating a team to then find the start-up closes down.
Has there been consistent growth? Good network marketing companies grow, even during a recession.
Does the company have international offices? That way, you can have an international business without leaving your home.
Are the products consumable? You want repeat sales.
Does the public buy the products on a regular basis? Better a regular sale of a bar of soap than a one-off sale of an air conditioner.
What support structures are in place? You need help to get started.
Do you get free websites? Allows you to concentrate on customer service.
Does the company ship the products for you? You don't want lots of high investment stock in your garage.
Is the marketplace saturated or growing? You want room for growth.
Are there any fees and do you keep all your profits? You want to make money not spend it.
The latest recession has made people think about their jobs. The "safe" job doesn't exist any more. More and more people are turning to network marketing to safeguard their future.
Why not find out if network marketing is right for you? All it will take is a little time and an open mind.
Simon Hancock - I wanted financial freedom and to be in control. After twenty years in the public sector, I achieved a pension of less than 4,000 pa! Then I founded a high-technology software company; within 13 years it generated a multi-million turnover and had offices across the world - I was the Technical Director. But the magic wore off as I saw less and less of my family and ended up working primarily for the shareholders.
Essentially, I was looking for financial freedom but more importantly, running one's own business gives serious freedom of time and control. Not only that, I wanted a business where I didn't have to employ anyone. I was introduced to Forever Living Products by a television repair man - I was impressed that he also had a technical background and was very successful. I didn't have any skills for this new role; the training and support was fantastic and aimed at making everyone succeed - it certainly worked with me. Now I have another international business - this time it's entirely within my control. I hav
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