Whether you’re interested in starting your own business or looking to build up your resume, network marketing can be an incredibly valuable way to make some extra money on the side. The benefits of network marketing aren’t just monetary, however; it can be a great way to meet people and expand your circle of friends and contacts so that you can get more done in the world around you.
If you want to learn more about what makes network marketing such an excellent opportunity, keep reading for a list of seven benefits of network marketing in India that will show you why this career path might be perfect for you!
Advantages and Disadvantages of Network Marketing.
Network marketing can be a great way to make some additional money, but it comes with several advantages and disadvantages. It’s important to understand both sides of network marketing before you decide whether or not it’s right for you.
If you do decide to try out network marketing, there are things you can do to help yourself succeed. Here are some pros and cons of network marketing, so that you can make an informed decision before trying it out.
Why Network Marketing is Better Than Job.
There is no compulsion or social pressure on you to join a network marketing business. In fact, if you don’t think network marketing is right for you, that’s perfectly fine. However, your non-involvement doesn’t mean your job isn’t subject to downsizing or layoffs; it doesn’t mean that another recession won’t hit and wipe out your savings; and it certainly doesn’t guarantee a secure financial future.
By choosing to involve yourself in network marketing, you at least have some power over how your financial future will turn out. Many people can attest that what has made their lives better is having extra income from home. To make more money doing what they love!
Why Network Marketing is Important for Students.
It’s college application season. Students will be making rounds at colleges, taking tours, and going on interviews to get into their top choice schools. If you’re a student (or know one), it’s important that you are aware of two resources that can really help your application process run smoothly: networking and mentorships.
While they may seem like an impossible luxury during high school, taking advantage of both during college can lead to some extremely helpful relationships when students start applying for internships, jobs and grad school programs.
Not only do these connections increase your chances of getting into grad school or landing a job after graduation, but they also allow students to network with professionals who share similar interests or goals. And what better way is there to do that than through business?
Businesses around the world have been using business-to-business networks as tools for growth and development since almost day one—and now, so can you! To read more about how to use network marketing as a tool for growth and development during college check out our guide here.
What is Network Marketing?
A network marketing plan is a type of business model that relies on personal relationships to sell products and services. Companies like Amway, Herbalife, Avon, Mary Kay and The Pampered Chef are all examples of network marketing companies.
The majority of professionals now use online tools to build their list and market their products or services to those lists. These tools include blogging, social media sites such as Facebook and Twitter, video conferencing applications such as Skype and Google Hangouts, and much more.
These technologies have drastically changed how people do business today. Now anyone can be an entrepreneur with access to these powerful online tools at their fingertips! If you’re thinking about starting your own home-based business it’s never been easier than it is today with access to these amazing resources available for FREE!
Why go into Network Marketing?
While you’ll learn a lot from any form of business, what sets network marketing apart is its emphasis on building personal relationships with your clients. The more time you spend with people, and the more active and engaged you are within your community, the more likely it is that people will respond positively to your sales pitches and business ideas. If you want to be successful at network marketing, don’t focus solely on product—focus on building strong bonds with your customers.
Is it Possible to Earn a Good Income Through MLM?
Yes, it is. When you build your own network and make sales through your network, you are earning a residual income. It takes time to build a network because people need to know who you are and what your business is about before they can buy from you.
But once you have created a solid foundation, everything should run like clockwork (that’s one of our favorite clichés). There will be times when you will wonder if anyone is buying from you at all, but don’t give up! Keep working on building your network; eventually, things will fall into place.
The key thing to remember here is that it does take time—but if you work hard enough at it, and if you stick with it long enough, then success should come calling sooner or later.
How Much Money Can Be Made?
The average income for a network marketer is $55,000 to $75,000 per year. When considering total combined income from all sources, it becomes even clearer how powerful and profitable network marketing can be. In fact, according to some estimates, there are more than one million millionaires created by network marketing companies worldwide. That’s not too shabby for an industry that has only been around since 1994!
What Kind of Products are Typically Sold By Network Marketers?
Most network marketers sell products like dietary supplements, skin care items, skincare products and beauty supplies. These kinds of products can be sold through websites or with parties that take place at your home.
The people who come to these parties are usually friends or family members and can be a great way to introduce your business to others you know. Network marketing is also a great way for stay-at-home moms or college students who need some extra money to make some quick cash from home. Network marketing allows them to still provide for their families while doing something they enjoy.
Some Pitfalls to Watch Out for While Joining an MLM Company?
Here are some pitfalls to watch out for while joining an MLM company: First and foremost, if you’re not really interested in selling, don’t get into it. No matter how much a friend or family member loves a particular company, if you don’t have passion for it and aren’t driven to succeed, most likely you won’t be successful.
Secondly, understand that your sponsor can potentially be a great asset and help – but only as long as he or she is actually helping and not just interested in making money off of their recruits. Thirdly, marketing requires time and resources – both of which many network marketers don’t put into building their businesses.
10 Benefits of Network Marketing.
i) Enhance your time management skills – MLM helps you to improve your productivity and therefore gain better control over your own time.
ii) Improve social skills – Being involved with MLM requires a lot of interpersonal interaction so that it is almost impossible for you to get nervous or shy. In fact, social activities are considered an important part of a well-balanced business plan, which means that people who join MLM should definitely expect some improvements in their social life too.
iii) Gain confidence – People who work in MLM are often under constant pressure to perform and deliver results. This can be extremely stressful but also very rewarding once you start seeing positive results. As such, working as an entrepreneur will help boost your self-confidence because you will know that if you fail at one thing, there’s always another opportunity waiting for you.
iv) Gain financial freedom – One of the biggest benefits of joining network marketing is financial freedom because once you start making money from home, there’s no limit to how much more money you can make each month.
v) Get out of debt – Many entrepreneurs have been able to pay off all their debts and live debt free thanks to network marketing.
vi) Learn new skills – If you want to become successful in network marketing, then you need to learn new skills on a regular basis otherwise you will fall behind everyone else around you.
vii) Have fun! – Network marketing has given many people new opportunities for fun and enjoyment in their lives; something they thought was not possible before they joined up with a company like ours!
viii) Enjoy family life – A lot of people think that when they go into business for themselves, they won’t have enough time left over for family members but actually, quite the opposite is true!
ix) Create a legacy – Most people who start their own businesses do so because they want to leave behind something special after they die. For example, starting a non-profit organization or building an orphanage are both great ways to leave behind a legacy that you can be proud of.
x) Make your children proud – When you’re in business for yourself, it’s easy to let other things take priority over spending time with your kids and spouse. However, if you’re running a network marketing company, then those priorities will change dramatically and you’ll find yourself having plenty of extra time on your hands to spend with them instead!
7 Advantages of Network Marketing.
Here’s why you should strongly consider joining a network marketing program:
i) Local BusinessIf you love to work from home, starting your own business through a network marketing company could be great for you. Instead of investing money into inventory, you simply put your money toward your initial kit and getting started. If you end up needing more supplies, there are ways to get them with little to no cost to you—through friends or other business owners who join like-minded companies.
ii) FlexibilityWorking from home has its perks, but it can also lead to isolation if you don’t have any support systems in place. Joining a network marketing company allows you to meet new people while still working on your business at home. You can make connections that will last long after you close up shop for the day!
iii) Income PotentialWhen it comes down to it, what most people want out of their job is financial stability and freedom; unfortunately, not everyone gets that luxury. Fortunately, some network marketing companies offer residual income options that allow you to earn a paycheck even when you aren’t actively selling products.
iv) Building ConfidenceSome people struggle with self-confidence and low self-esteem because they haven’t found their passion yet. As soon as they find something they love doing, however, it changes everything about how they feel about themselves. When you start building your business through network marketing, you build confidence in yourself by learning how to run a successful company. It gives you purpose and meaning beyond just putting food on the table each night.
v) Professional DevelopmentNetwork marketing offers more than just an opportunity to sell products. Many programs provide training and development courses that help you grow personally as well as professionally. Some courses might include topics such as time management, leadership skills, public speaking skills, professional etiquette and so much more!
vi) Travel OpportunitiesMany network marketing companies offer opportunities for travel all over the world—even if you only have one person under you in your organization. This means you can take trips around the globe and explore different cultures without leaving your family behind.
vii) Meeting New PeopleIt’s hard to believe, but meeting new people is actually one of my favorite parts about running my own business! I never thought I would say that since I used to be terrified of talking to strangers, but now I love making new connections every single day.
Being able to connect with others who share similar interests makes me feel alive.I encourage you to learn more about network marketing and see if it’s right for you.
The 7 advantages above are just a few reasons why you should give it a try. To learn more, check out my #1 recommended resource below. After reading it, you’ll know more about network marketing and how to get started.