Perhaps you have been doing some research on starting a home business and you ran across the term network marketing. If you are like a lot of people, you may be wondering “What is network marketing or multi-level marketing (MLM) as it is sometimes called?
Here’s what it is: A distribution model that moves goods and services through networks of thousands of independent representatives. The representatives are compensated on their own efforts as well as those of the distributors that are part of their network or team. The concept of network marketing works because it is based on a system that is proven and leads to business success.
What is network marketing? – A way for an average person to begin a part time business without any prior experience in the industry. The great thing about network marketing is you don’t have to quit your job or stop running your existing business in order to begin a network marketing business. You also don’t need to be a salesperson because the business model is based on referring goods and services to people with whom you have an established relationship.
What is network marketing? – An industry that has created more millionaires than any other industry. One of the many benefits of network marketing is the ability to earn residual income (income that is paid out over and over again based upon a one time effort – referring a product or service). Many of the top producers in the industry earn incomes that rival or exceed those of senior management in Fortune 500 companies, so don’t underestimate the power of residual income!
Another great thing about the compensation plans offered by network marketing companies is they often include other bonuses such as luxury vehicles, vacations, profit sharing bonuses, stock options, etc.
What is network marketing? – A business that requires work! It is not get rich quick. Expect that if you join an MLM company and want to earn a significant income, you will need to invest 3-5 years building your business. You should know right up front that many people that join your team will quit.
Many people will only earn a few hundred dollars per year, while some won’t earn anything. However, because your income is based on your work ethic you get to decide how much you are going to earn. You may decide to do like I did and learn what was necessary to completely replace a nearly six figure income through network marketing.
What is network marketing? – An opportunity for an individual to learn skills and talents such as leadership, public speaking, effective communication, etc. I like to think of it as a personal development program that happens to have a compensation plan associated with it. To really succeed you must be willing to commit to personal development, learn a success system that can be duplicated by thousands and be able to identify, develop, train and lead large groups of people.
What I love is that you don’t have to possess all of these skills prior to joining a company. Network marketing gives you time to learn and develop the skills necessary to succeed. Your mentor in the company you join has a vested interest in helping you to develop into a successful leader.
In summary, network marketing is a great opportunity for people that are willing to work hard, enjoy helping people and want to earn a significant income.