As part of our MOM BUSINESS MAY 4-week series at Taking Back YOU, we've been talking all about network marketing and why it can be a great and totally viable way to start an at-home business.
The benefits are many, and while there are some downsides (like anything), the good definitely outweighs the bad.
Here are a few of the benefits and a couple of the downsides of network marketing (you know I like to keep it fair) so that you can decide for yourself.
Low Buy-in: Unlike network marketing of the past, companies have finally figured out that people don't have hundreds or thousands of dollars to invest when starting a network marketing business. So many of them have re-worked the buy-in process. Many companies now offer memberships, which are more like Costco or Sam's Club memberships where you pay a yearly fee to get your products as a discounted price. Some companies allow you to pass on these savings to your customers, if you so choose.
Many companies even give you a starter kit, that provides you with some products that you'll need to get your business rolling from the get-go. Having a bunch of inventory in your home is quickly becoming a thing of the past!
Set-up Is Done For You: Nowadays, when you decide on a network marketing company, they should pretty much have most everything set up for you. Usually when you join a company you'll get a branded website, a starter kit, and a "back office" which provides information for you that you can share with potential customers.
Back in the day, you had to come up with ALL of that by yourself.
Add that to the ease of sharing via social media and things are looking a lot easier here in good ole' 2019.
Flexible Schedule/Income Opportunities: Probably the BEST thing about network marketing is the flexible schedule and the income potential. You can do as much or as little as you need to do for your business.
But remember, what you put in is what you'll get back. So be sure to work your business enough to actually MAKE SOME MONEY!
I wouldn't be doing my job if I didn't at least mention a couple of the downsides of network marketing (we need to keep this fair after all) so here's a couple things you might want to keep in mind:
You Will Need To Know How to Sell Things: If someone who is trying to get you to join their network marketing company hits you with a line like "these products will sell themselves!", run for the hills!
No product, I repeat, no product sells itself. You have to know how to find out what people want/need and sell to them. You can't hide behind technology. You have to TALK TO PEOPLE and tell them about your product.
There's no other way around it.
Network marketing is a social business. It's all about relationships. That's how you sell products.
You don't have to have your MBA, but you definitely need to be prepared to have conversations with people about your products.
Sorry mama, there's no way around that one.
Network Marketing Can Have A Negative Connotation: I have good news and bad news for you. I'll give you the good news first:
Views on network marketing are starting to change. People are starting to see that they aren't the pyramid schemes that everyone fears they are, and that they can provide an actual stream of income for diligent and hard workers.
But here's the bad news... There are still PLENTY of people out there who think it's a scheme or who have been burned by the sketchy practices of the past. You're gonna have a hard time getting them on your side. You just are.
Don't take it personally. They just don't see the vision. And they may never see it.
So just bless them, and then go on about your merry way.
Network marketing is literally the fastest growing business model in the world today. And the reason for that? It works.
I personally know several mamas who are putting their children through college by selling products that they would use anyway. It is a viable source of income for those who have the desire and discipline.
Don't let anyone tell you different.
Here's a quick video to help you decide if the network marketing company you're looking at is a good one to work with:
Be sure to listen to my podcast episode on Network Marketing as well. If you haven't already done so, subscribe to the Taking Back YOU Momcast! We post a new episode every Wednesday!
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