Network marketing can be one of the most effective ways to make money in the business world today, whether you’re just starting out or are looking to add another stream of income to your existing business. But how much money can you really make?
There are many different network marketing companies and opportunities out there, so it’s important to understand the potential earnings of each one before you start your journey.
Here, we outline several network marketing scenarios to help you determine exactly how much money you can make with your own MLM business model—and what steps you need to take in order to reach those earnings goals.
5 Common Myths about MLM Businesses.
Misunderstandings, myths and lies abound in MLM. In reality, however, MLM businesses operate much like any other business. The following five common myths about MLM businesses are regularly perpetrated by both individuals within and outside of network marketing to encourage people to buy into a particular system or join a particular company.
Think carefully before you buy in—is it based on facts or is it simply smoke and mirrors? Let’s debunk these five common myths:
i) There are no boundaries;
ii) There’s no startup cost;
iii) Anyone can do it;
iv) It’s too good to be true;
v) Everyone is doing it.
While some of these may have been true at one time, they certainly aren’t anymore.So don’t believe everything you hear when someone tries to sell you an MLM opportunity. Most likely, it isn’t worth your time or money!
Why Is MLM So Popular Worldwide?
Not only are these products and opportunity attractive for new people, but most of them also appeal to experienced network marketers as well. Why is that? Because unlike all other types of business and entrepreneurial endeavors, MLM companies let you keep 100% of all profits from sales you make.
In almost every other industry on earth, you’ll have to pay some kind of fee or give up a cut of your commission if you want to remain with a company and sell their products.
This is why network marketing has become so popular worldwide – it gives ordinary people a chance to build their own businesses on their own terms and keep what they earn. Who wouldn’t be attracted to that opportunity? It’s completely counter-intuitive: an earning opportunity where everyone keeps what they earn!
Here’s What MLM Isn’t.
MLM is not easy money. That’s because in an MLM business, you’re competing with thousands of other people and companies for customers. You must always be on your toes and thinking about how to attract new customers or retain existing ones.
There’s also no guarantee that you’ll ever make enough money to make a living off it. As with any business venture, expect to pay a lot of start-up costs and to work hard before seeing any substantial returns.
Check out these tips if you’re considering starting an MLM business. If you decide to go at it alone, be prepared to set aside lots of time. And don’t quit your day job!
Benefits of Recruiting People in Your Downline.
Recruiting people in your downline helps to expand your own network. As more and more of your people start succeeding and earning you profits, it becomes easier for you to earn as well. Plus, by helping others do well, you’ll often earn even more money than if you were just focusing on yourself.
This is a win-win scenario for everyone involved. So don’t be afraid to invest some time into recruiting other people in your downline. It could end up being one of the best business decisions you ever make!
Think Long Term – Get Out of the Rat Race Today!
No one says you have to make all your money back in one lump sum, especially when you’re first starting out. Even if you only bring in $200 a month at first and it takes six months to break even, that’s a good start.
If you want to quit your job within one year, then your goal should be to earn an extra $5,000 per month. This will get you there much faster and keep you motivated as well.
For example, if you get off on different levels every time you achieve a new milestone – like losing 10 pounds, making $2,000 or signing up 10 people – then hitting those goals will give you something to look forward to and help drive your progress toward quitting your job for good.
The key is to make sure your milestones are specific, measurable and attainable (SMART). The more specific they are, the better chance you have of actually achieving them. For example: I lost 5 pounds is too vague; I lost 5 pounds in two weeks by walking 30 minutes a day is SMART! Once you know what your goals are, write them down somewhere where you can see them daily.
A huge whiteboard works great because it allows you to track progress easily over time. Seeing your accomplishments everyday will help motivate you to push harder so that not only do you reach these milestones quickly but also go beyond them. Then share these goals with others who can support and encourage you along the way!
Use these tips to get started with an MLM business today.
There are multiple ways to get started with network marketing. If you already have a business or some money in your savings, you can consider buying products and services for people at a discount. This is what multi-level marketers (MLM) often do when starting out because it’s an easy way to get more people interested in a product.
Selling products directly can be risky if you don’t have a lot of experience, though, since mistakes could cost you customers who want high-quality items they know they can trust. Starting out as an independent distributor with a multi-level marketing company—someone who isn’t tied to one particular brand or program—is also relatively risk-free, although there are plenty of things that could potentially go wrong too. That said, MLMs aren’t always scams, but it’s important to research them before getting involved.
Some companies hire only those who’ve been successful selling their products and services through other MLMs first. As long as you’re aware of these risks, you can work toward building a sustainable business.
Hey, You Made It To The End.
Most network marketing opportunities will require an initial investment of money for start-up costs and advertising. Be sure you’re not getting into a business that is going to take your money and run!
There are legitimate companies out there who offer quality products and exceptional training opportunities, but they do charge a fee. If you’re unsure whether or not a company is legitimate, do research on them first or reach out to previous distributors to get their feedback.
Most importantly, don’t let either of these situations scare you away—you just need to be smart about where you put your hard-earned cash. Your health is worth it. And if you can find a product or company you believe in, it’s definitely worth paying for.
The risk of losing weight is always better than living with obesity and its associated diseases. I hope my review helped; feel free to ask any questions below! And good luck with everything 🙂
It’s no surprise that starting a business can be risky. The failed start-up stories are well documented, but it doesn’t have to be that way. When you follow these steps, your chances of success will drastically increase.
The only thing you need to do is take action. Start today and turn those dreams into reality. Don’t let anything hold you back from your ultimate goal: Success!
Read also: 10 Network Marketing Tips for Beginners.
Read also: Network Marketing Success in 7 Easy Steps.