What Makes a Good Network Marketing Home Business?
Working at home is a dream that many people have. Some never act on that dream because they just don’t feel confident enough to make their dreams come to fruition. Others give hands and feet to their dreams and make it a reality. They enrich their lives, have more time to spend with their loved ones and build a cushion to help sustain their financial portfolio for their golden years.
Being your own boss means that whether the job gets done or not falls on your own two shoulders. You’ll have to work hard to reap the rewards you want, but you get out of the business what you put into it. If you put forth a half-hearted effort, then that’s what you’ll get back in profit - the results of that half-hearted effort.
So what is a good network marketing home business? It’s one where you can begin without having to take out a second mortgage to do so. The cost of getting started should not lead you to the poorhouse.
Avoid the companies that require you to buy hundreds of units of their products. A good network marketing business isn’t going to promise you the moon. What it will promise you is that if you’ll work hard, you’ll succeed. There won’t be any wild hype or unrealistic expectations.
You can know it’s a good home business if the compensation plan is spelled out and is fair to all who join the company. Look for a company that’s offering a product you’ll be proud to stand behind, one that you won’t feel like you’re ripping people off by promoting it.
If you can get into a network marketing home business that’s also matched to what you’re passionate about, then it won’t seem like it’s work to you. You’ll be excited about what you’re doing and thrilled to let others know about the business.
Find the business that will teach you about how to bring in residual income - and not just tap into one line of customers or downline before moving on. Remember that network marketing is about establishing relationships and that goes for everyone you connect with in the business, whether customer or colleague or downline.
Because there are so many terms floating around online about marketing and so many ways it’s labeled, what exactly is network marketing? How is it different from multi level marketing or Internet marketing?
What Is Network Marketing?
Though network marketing has been given many handles, it all falls under the same basic category - it’s a strategy that interweaves people helping people while at the same time reaching financial goals.
The power behind any network marketer is his or her downline. Hence the power of networking. This type of business is not a one man show, but utilizes the ability and strengths of people in numbers to market products and build companies.
Just as a brick and mortar business relies on employees so show up every day and give the company their best ability and talent, so goes network marketing. Those who can create a downline of people who will work hard and make it their passion will quickly find success.
Those who scoff at network marketing do so because they don’t understand the concept behind the way the business is run. Take for example a famous pizza franchise. Individuals can buy into the franchise and then run each individual store as they see fit to a certain degree.
Whether the store flops or turns into a profitable venture will depend on how well management trains the employees, how good the products are and how well the employees will service others. The franchise is part of the same parent company, yet independently owned.
In network marketing, the profit will be determined by how good the upline or managers know the business, whether the product fills a void and how well they teach their downline to be successful in the business.
Each distributor, like a franchise, is independently working and yet is still connected with the parenting or the MLM company. The parenting companies are instrumental in making sure that each distributor has the training and information he or she needs.
That’s why it’s so important that you choose a company that will train you for greatness. All of the tools to win at network marketing are out there, you just have to find the right company and take hold of the training.
Network marketing is a wide open selling field and new businesses spring up all the time. Millionaires are still made in marketing every month and you can be one of them but only if you don’t buy into the trap of thinking it’s all about sales and all about you. Anyone can sell products, but not everyone can develop the kind of depth between two people that keep them returning to the product as a loyal customer.
You might be surprised to learn that network marketing is not just about selling. It’s about building through connections and you can forget about cold turkey calling random strangers or going door to door asking people if they want to try your product.
That method is so outdated. Today’s methods of reaching people in network marketing include using social media (such as Facebook, Twitter or setting up a personal webpage) and it also includes the easy to use method of lead generation (people who have already indicated a desire or shown an interest in the product or company).
What Is the Financial Possibility in a Network Marketing Home Business?
If a picture is worth a thousand words, can you believe the testimony of the guy who’s sitting on a beach with his arm wrapped around a bikini clad woman, a mansion in the background, near a car that costs what a small country would?
Some people do earn millions of dollars in network marketing. You might not be aware that some of the millionaires in the world today made their millions by joining a network marketing company.
Does everyone who joins a marketing company make millions? Some don’t. How can you tell which one will you be? That determination is not made by the company. It’s not even made by the customers. It’s made by you.
Of course, some network marketing home businesses do offer a better compensation plan that others do and you’ll have to decide which one will pay you the best rewards. There are network marketing companies where you can rise in the ranks and begin to pull in twenty or thirty thousand dollars a month.
Go into it with the mindset that you’re going to be one of those distributors but understand that bringing in that kind of income is going to take time and a lot of hard work.
Those who are looking for a quick buck are often desperate and desperate people make mistakes financially. You are the best person to look out for your well being. You’re also the best person who can determine whether or not you can work hard and stick with a company until you get out of it the financial rewards that you want to see happen.
One of the best ways to make sure you’ll stick with a company is not only find a product you believe in but also find a product or service that you yourself are passionate about. That’s the secret ingredient that shines through when you talk to others about the company - it’s your belief, your passion, your desire to share with others the same joy you get from it.
Because of the way network marketing is set up in the various compensation plans, you’ll work very hard in the beginning to establish your downline but once you train and support them, you’ll begin to make money by working once and earning repeatedly.
To explain that in plain language, it means that you’re going to benefit from what’s known as residual income. A customer buys a product you promote, you earn on that. This customer comes back, orders more product. You keep getting commission every single time they order.
But, as you grow your business by adding more people to your downline who are just as passionate about the product as you are, you earn based on their commission too. You earn a commission because you’re the one who brought them into the company, you’re the one who encourages, trains them and is responsible for working with them on any issues that might slow their success.
Because of that, as their upline or manager, you’re earning based on your expertise that’s benefiting them. You could compare the way the earnings are set up in the compensation plan to someone who pays for the services of a business or life coach.
Work at Home Perks
There’s a reason why the majority of people you’ll talk to you in life want to work at home. Usually, the top answer you’ll get is, “I want to be my own boss.” But besides the lure of being their own boss, everyone knows that working from home brings with it a great deal of perks that just make life better.
Working at home is actually cheaper than working in an office. It costs money to make money. When you work in an office, you have to either bring a lunch from home, buy it out at a restaurant (risking dwindling pay and expanding waistlines) or you get so caught up in work, you skip lunch and then ravenously either buy a meal home or pick up supper out to bring it home.
Travel expenses are cut when your office is in your home. You won’t pay for the extra gas it takes to drive the office, toll road costs or fees associated with parking permits. You’ll save the wear and tear on your vehicle too, thus extending the life of your car.
Office clothes are a lot more expensive than the clothes you purchase to wear at home, especially if you have to wear suits or anything that’s dry clean only. Mothers with younger children can slash or even cut out day care expenses completely.
You’ll no longer have to work your life around your job but will get to work your job around your life. There won’t be any more times of missing out on important family events or outings because you’re stuck at the office or stuck in rush hour traffic.
And in the event there’s a family emergency, you won’t have to clear it with anyone before you head out of town. By working at home, you’ll gain a great boss (yourself!) and lower the stress level of trying to please a boss who keeps raising the performance bar.
When the weather turns nasty, you won’t have to worry about traveling on roads that are dangerous and you won’t be dashing for cover under a pouring rain. You’ll get to slow down and sip your coffee as you start your morning dry and comfortable.
Because offices can be a warehouse for germs, especially in the winter months, you’ll have less chance of becoming ill or worse, catching those germs and bringing them home to your family.
There won’t be any office politics for you to get caught up in and you won’t get stuck between two gossiping employees while you’re trying to get your work done. You’ll get to avoid boring meetings, boring coworkers and the pressure from trying to meet impossible last minute deadlines.
But perhaps the best perk of all that comes from being your own boss and working from home is that you get to control your earnings. What you make won’t be up to what your boss thinks about how well you’ve performed of haven’t performed your duties. You’ll be free to set your own goals and make as much as you’d like.
Why Do People Get Into Network Marketing from Home?
People join network marketing companies and start up their own home business in it for many reasons. Some of those reasons are familiar but some are unique. Probably the number one reason people choose to make a living in network marketing is because they’re tired of having a boss call the shots of their life and they want more freedom than being stuck in a 9 to 5 position offers.
More than the freedom of time, though, people everywhere are searching for financial freedom. Most jobs today have a cap on earning, especially if you’re not the CEO. Once you top out, you just don’t get to go any further in prestige or income. That’s not the case with network marketing. In this business, there’s no limit to the amount of income you can earn or how high you can climb while doing so.
Since it’s been proven that network marketing is a reliable way to make more money than a regular job can offer, more people are opting to get into the business part time while still working and once the income level equals their day job, they quit to devote full time to networking.
The reality of spending twenty years working in a job only to have it end with a small pension can be an eye opening experience and with the economy the way it is and the cost of living rising, it’s going to take a lot more money for senior citizens to be able to provide for their latter years.
Worse, there’s the very real fear that a corporation can shut down with very little warning or the next pink slip could be personal. There are no guarantees that longevity in a job will bring security. Often, the person earning the biggest paycheck will be the first to go in order to keep a handful of lesser-paid employees.
People want the option of knowing they’re the ones determining how their job future will play out and that it’s not up to the whim of a boss or the winds of how the economy is blowing.
Joining a network marketing company and working from home is one of the most affordable ways to start your own business and change your future from the moment you make the decision. The start up costs are minimal, the knowledge given during training propels the newcomer easily into the business and the end results can be far greater than you ever imagined were possible.