The Benefits of Network Marketing: Is This the Right Business Model for You?
Many people just don’t understand network marketing. There are a lot of misconceptions about our profession. So today, I’m going to share with you the perks and what I consider to be the benefits of network marketing and this amazing business channel.
Benefits of Network Marketing #1: Flexibility
Network marketing is super flexible! If you have a traditional job, you have to go to work or you risk getting in trouble with your boss. If you own a brick-and-mortar store, you have to be there to run it every day. However, with network marketing, you can work from anywhere at any time.
You can run your business a few hours a week or full-time; it’s up to you. I run my business while my kids nap, during carpool, …heck whenever I can. 🙂 That’s the beauty of running such a flexible business!
Benefits of Network Marketing #2: Low Startup Costs
If you start a traditional franchise, it will cost you hundreds of thousands of dollars and a lot of time to turn a profit. Typically, it takes about three years for a traditional business owner to recuperate their initial investment.
That was the case for me. I used to have a wedding planning business, and I was trading time for money. It took me about three years to start turning a profit.
With network marketing, you can easily get started for under $1,000 and you’ll probably recoup your initial investment within the first month.
…..that is if you are consistent and you run it like a business.
Benefits of Network Marketing #3: Less Ground Work
To start a traditional business, you have to set up a website, marketing, branding, product development, patents, trademarks, etc. If your business is based on a service, you also have to build your skill and your network. It’s a lot of work.
With network marketing, you can plug yourself into a system that’s ready to go. Not only is the work of developing a product already taken care of, network marketing products are typically the best. Frankly, because they have to be.
With the best products, it’s easier to get up and running because you don’t have to think too much about it. This makes network marketing a great way to enter the market and start a business quickly and efficiently.
Benefits of Network Marketing #4: Scalability
Network marketing isn’t just flexible, it’s also scalable. You can expand globally without having to deal with international trade agreements, customs, or laws. Simply add people to your organization and grow your business without all that hassle.
Benefits of Network Marketing #5: Community
Through network marketing, you have the chance to build a business with others. For me, this is the biggest perk of network marketing. Owning my traditional business was a lonely venture; I built it on my own with nobody to help me. In fact, no one wanted to help me because I was their competition and could potentially steal their ideal clients away.
On top of that, I was a mom so I felt especially lonely being with my kids all day trying to build a business on my own. It was hard!
A common misconception about network marketing is that leaders only exist to make money off those underneath them. However, leaders aren’t successful unless you are.
That means most of the good leaders in network marketing will spend a lot of time and energy to develop you as a person and a leader. The only way you pay them for that time and energy is through your production.
If I wanted to hire a business coach to help me grow my old business, I had to pay thousands of dollars upfront. I don’t have to do that with network marketing. There are million-dollar earners who I talk to daily and for free because they want me to see me succeed.
Benefits of Network Marketing #6: Earning What You’re Worth
And finally, when you work in network marketing you earn what you’re worth. If you’ve ever had a traditional job, you probably know what it’s like to do all the work for a coworker who doesn’t do anything and yet they still get paid the same or even more than you!
In network marketing, you get paid for what you produce. If you build a stellar business, you earn what it’s worth. If you produce more than the person who introduced you to the business, you get paid more than they do. That’s another misconception: that you can never earn more than the people above you. It’s simply not true.
Are you cut out for network marketing?
So who is network marketing not for? Because let’s be honest: it’s not for everybody. Only 7% of people have an entrepreneurial mindset. If you’re not coachable and you think you know it all, this business is not for you.
If you’re not willing to push yourself outside of your comfort zone, take risks, and have people potentially raise an eyebrow at you, it’s not for you.
If you’re not willing to hold yourself accountable and do the work every day it’s not for you.
Like I said, you earn what you’re worth. So if you want a business that pays you well, you have to put in the work and the time. You have to build your business. For me, the benefits of network marketing greatly outway any of the work.