Here are the benefits of network marketing.
Work From Home
One of the best advantages of network marketing is being able to work out of the comfort of your home. This is especially great for moms or dads that want to spend more time with their kids. No more commuting in rush hour traffic means more time and less stress. Also less gas expense and wear and tear on your vehicle. Additionally there is no need to lease an office space.
Whatever time you have, you can start this business part-time or full-time. You have full control of when and where you would like to do your business. Once you are earning the income you need or desire from network marketing, then you are rewarded with spending as much time as you want with your family, to travel and make wonderful memories.
Low Start Up Cost
Usually the cost is less than $50. Compared to a business franchise, which can cost up to $500,000 (McDonald’s) and the current top franchise (based on number of franchises) is Subway at $100,000.
3 Types of Income
The 3 types of incomes are as follows: 1) Earned income – from making a personal sale; 2) Passive income – when someone in your organization makes a sale; 3) Residual income – when you get paid for continuing sales from customers you and your organization signed up in the past.
Small Business Supported by Big Business
Having the ability of owning a business without having to worry about all the other aspects of running a business. With the traditional business, you as the business owner are responsible for every facet of the business. This would include sales & marketing, finance, product development, operations, human resources and more.
In network marketing, you are only responsible for one aspect – sales and marketing. The parent company takes care of the rest! Even with this fact, you have the opportunity to earn a comparable income to most businesses where the business owner is responsible for all aspects of the business.
Positive Social Relationships
In a network marketing business there are many positive relationships developed as a result of the business. This is a people helping people business where you have the opportunity to change somebody’s life – mostly financial but other areas too. If you like working with people, this is the business for you. This is probably the aspect of network marketing that I love the best!
There are many distributors who participate in network marketing who readily admit that some of their best friends, to this day, are people that they met and continue to work with in their network marketing business.
The nature of a network marketing business makes it very easy to develop quality lasting relationships. You are communicating with people in your network marketing business on a consistent basis. The people you meet in network marketing tend to be more positive and upbeat than people you meet elsewhere. This makes it a great way to build quality long-term relationships.
In fact, although I certainly don’t recommend you get involved in network marketing for this purpose; there are a number of network marketing distributors who have met their spouses as a result of participating in the business. The spouse was either part of their up line or down line or perhaps another distributor in the business they met at an event.
Those who choose to participate in the network marketing business model benefit in a number of ways. The key is to decide whether it is a business model that you feel you can get benefits from.
Here are the drawbacks of network marketing.
Some network marketing companies require you to stock up on inventory so you are able to sell them directly to your customers. This would require some storage space in your home or garage. There is also the risk of not being able to sell the inventory. Fortunately, some companies do not have this requirement.
Sell to Friends and Family
Although some people don’t mind selling to their friends and family, they would definitely be in the minority as most people. given a choice, would prefer not to. Also after you’ve exhausted your friends and family, then your left to approaching complete strangers which isn’t fun for a lot of people. This is where a lot of newbie network marketers fall short. They don’t know what to do after calling all their friends and family. Thankfully, there is another way to market your opportunity and goods and services using technology and the internet. There are a number of ways to market your business professionally. As they say, amateurs convince, professionals sort. Please see my upcoming post on attraction marketing.