Starting In Young Living As A Business VS Starting Your Own Business

I’ve had the fortune to be a Paperboy, an Employee, a Business owner, and a professional Network Marketer.

When I was a kid I had the entrepreneur gene already. My dad, I seen started out in life picking cotton and then because involved in different aspects of construction and then on to starting and owning different businesses during his lifetime. By the time I came around, he owned a tire shop, and then later in his life a manufacturer of car wheels and his last business was converting interior vans into custom vans filled with couches, overstuffed chairs, carpeting, etc. So I was influenced by his lifestyle to make a buck offering services and products.

Seeing how I’ve had a full range of experience in being a business owner and starting my own business vs a Network Marketer, I wanted to go over the benefits and challenges of both. Both have their benefits and their drawbacks. No matter which you choose to do, it will require your sweat and time put into it, to make it a success, and when you first start out in either, it will take most of your time.

 

 

Starting a Business (products or services)                                                                     Starting a Network Marketing Business

*Inventory if product based                                                                                              *Minimum to no inventory needed

  • Equipment if service based
    • Employees                                                                                                         * No Employees
      • City License                                                                                             * Normally no City License required
      • Storage for inventory
        • Rental or ownership of a storefront office/building           * Work from home
      • High Startup costs ranging from $1000 to $1000000                 * Low start-up costs usually under $1000
        • Advertising budget                                                                      * Word of mouth
          • Transportation                                                                   * Transportation
          • Office supplies                                                                     *Office supplies
          • Phone                                                                                     *Phone
          • Toll-free number                                                                   * Toll-free number provided by company at no charge
          • Payroll                                                                                     * No Payroll
          • Accountant                                                                             * Accountant if necessary
          • Website                                                                                    * Company Website provided by the company, usually no charge or min.                                                                                                                    charge.
          • Computer/Hardware Software                                             * Computer/Hardware Software
          • Repairs to equipment if service business                            * No equipment to repair
          • Employee turnover                                                                  * Team attrition
          • Average failure within 5 years                                                * Average failure 95% within 1 year.
          • Sales needed daily                                                                     * Sales built into ongoing residual
          • Business Insurance                                                                    * No insurance usually needed
          • Benefits to employees such as vacation, sick pay,
            • short-term leave, etc. etc.                                                 * No employees, so no benefits have to be paid but must make enough
            •                                                                                                   income to cover private insurance if full time.
            • Full-time commitment                                                       * Part-time to full-time commitment
            • Willable to family                                                                * Some MLM’s are Willabe to family

 

Now the exception to this side would be Affiliate Marketing, which would be a lot like Network Marketing, except without the residual benefit; which could be a large determining factor.

 

As you can see, there are advantages and disadvantages to both. It has to be your decision and what you can swing financially. For most Network Marketing is low start-up and low monthly costs involved working from home, meaning you don’t need all the things listed on the left to get started or keep running your business. So for most, Network Marketing is a way to own your own business in an affordable manner.

 

If Network Marketing seems a viable business model to you and you’d like to get started, I’d highly suggest a Company that sells replenishable items (things that are consumed regularly) and one that has low attrition. (Turn over of Independent distributors). Also, you want a Company that has been in business for a minimum of five years, and preferably more than ten years. Of course, you’d want to choose a company where the majority of people could use the products being offered too. Young Living Essential oils is such a company. View the Young Living business opportunity by clicking here.

 

Questions?

If I invited you to this page or you just happened upon this page and have questions or want more information, you can Email me at DexterDBlack@comcast.net or call me at 717-467-5088. If someone else invited you, please get back to the person who sent you here for further ordering or informational questions.

You can also find me on facebook: https://www.facebook.com/WealthandRiches

May your days be filled with good health, good friends, good food, and most of all; much love,

dex-in-blue-background

Dexter D Black

* Disclosure Link http://dexterdblack.com/disclosures

 

 

 

 

 

 

This entry was posted in Network Marketing and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published.