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Multi level marketing is a growing profession all over the world especially in countries where the average person isn’t doing well financially. Many people aspire to financial success but have never had access to a vehicle that can help them make it a reality. In this post we are going to look at some of the benefits you can enjoy if you choose to become a multi level marketing professional.
1. A safe environment to test your entrepreneurial skills
Many people today desire to do their own thing and I’m sure you’re already too unless you’re already running a business. It’s understandable because having a solid business gives you options to achieve success in the different areas of your life. The reality is that not everyone is cut out to be an entrepreneur and it’s perfectly fine, there’s nothing wrong with that.
Multi level marketing allows you the chance to build a business in a non-high pressure environment. Like any business it takes time to build a network marketing business but it’s unlike working from a place where it’s do or die. Most people who have never done business tend to discover that they suck at business so they can either decide to learn the skills required to achieve success or give up. In this way you don’t jeopardize other important areas of your life.
2. Start part-time
This is one of the beauties of the network marketing profession. A few successful people today had the fortitude to start and build their businesses as their only option. Without any other source of income they managed to hold on to their dreams and make it. However it’s only a few people that can handle that kind of adversity.
“Work full time to make a living but part-time to earn your fortune.” ~ Jim Rohn
While you’re working full time at your job you can build your business outside your regular working hours. Again it’s a safe way of building up your income while you’re still taking care of your daily living expenses. Getting to a place where your business is making the same amount of money you make at your job is a wonderful thing. What some of the top professionals advise is to at least get it to double your job income if you’re considering doing your business full time.
3. Cost effective
A multi level marketing business is classified as a home based business which you can operate from your home or anywhere in the world. When you get into the profession you work as an independent representative and get paid commissions for the products or services you sell. You don’t have to worry about employee salaries though you have to lead your team of independent reps to be successful.
In most cases you don’t have to worry about rent, utilities, etc. The overheads are minimal and the start up fees can be a few hundred dollars and reasonable monthly fee. The other investment is your marketing material and attending seminars to learn the skills to successfully build the business. Compared to a traditional type business a network marketing business is cost effective.
4. Go at your pace
In this profession you can set your own schedule that works best for you. You can set it up in a way that it doesn’t affect other areas of your life in a negative way. What’s important nonetheless is to be consistent if you want to see some kind of results. For example if you’re only able to meet with prospects for one hour after work focus on doing that everyday for one hour after work. Being successful comes through consistency because you begin to get some kind of rhythm and build momentum. Some people speak to 1 prospect day, some maybe 2 or 3 and others 3-5 a day. It depends on what you want to achieve but what’s important is to be consistent.
5. It’s a team sport
You must develop your skills if you’re going to be a successful person in multi level marketing. Your level of skill determines how well you get paid for the work you put in to the business. While this is true you don’t have to be a master at all the required skills in this profession.
“I’d rather have 1% of the effort of 100 men than 100% of my own effort.” ~ J. Paul Getty
You may be good at inviting people to look at your opportunity but maybe not as strong at closing the deal. In such a situation you can ask someone that’s good at closing deals to help you when you present to your prospects. The other great thing is that you don’t get paid only for your own efforts but as well as for the efforts of your team of representatives. This is called leverage and successful people understand the value of using it.
6. Multiple lives
What I mean by this is that you can try again as many times as you want no matter how many times you fail to get it right. This is significant when you make comparisons to what would happen in the corporate world. In a formal job it’s common that if your performance is consistently poor you get laid off and in some industries you get blacklisted.
In a multi level marketing company however the leaders will be patient with you and help you as long as you engage in their personal development programs. Through the programs you first and foremost become a better person and develop the skills to become a successful person in the network marketing industry. I don’t know of any other industry where you can experience such a privilege to try multiple times until you get it right.
7. Passive income
Passive income or residual income is money that you get paid whether you’re working or not. Examples of this type of income include rentals, royalties and dividends from investments. To get rentals you need properties that require a significant amount of money upfront which not everyone is capable of doing. With little startup fees you can build up your business to a level where you can also get paid residual income.
This is special when you think in terms of retirement planning because you’re not going to have the ability to work forever. Having a residual income cushions you against economic depressions like that of the year 2008 which wiped out many people’s retirement funds that were left destitute. I remember someone saying when it comes to passive income that it’s better to have it and not need it than to need it and not have it.
8. Your business is willable
You can pass on your business to your children and children’s children as you prepare your will. Every good parent works hard to ensure that their children are taken care of even when they are long gone. It creates peace of mind knowing your children’s future is secure. No matter how hard you work at your job one day you will leave it and you can’t pass it on to your children.
Successful people prepare adequately for that inevitable event in their lives because they think ahead for generations upon generations. Live in the present but also live to prepare for the future. Think about how it would make you feel to be celebrated by your descendants for being the person that turned the fortunes of your family for the better. What you do today matters for your descendants.