Two quotes that will help explain why I believe in Network Marketing:
“Man’s mind, once stretched by a new idea, never regains its original dimensions.” – Oliver Wendell Holmes, Jr.
“A belief is not merely an idea the mind possesses, it is an idea that possesses the mind.” – Robert Oxton Bolt
And a graphic quote by successful and well known Network Marketer Art Jonak
It is true! Once you understand that the Network Marketing business model can build a residual income for you and your family, you’ll be so focused on making that happen, that you can taste success!
First of all, what is Residual income and why should you want it? Residual income is when you continue to get paid after the work is done. This includes royalties from books, movies, or songs and also income that comes from real estate or business investments where you don’t actually have to be present to earn it.
The Network Marketing model leverages time by incorporating into it other people’s efforts without having employees. It’s built on duplication and getting and keeping customers. What do I mean by this?
If you have a product or service that someone values, you will have a repeat customer which can create a residual income. Kind of like Cable TV does. You buy your Cable TV service and enjoy and use it month after month. The Cable TV Company sold it to you once, and you kept buying it every month thereafter creating the company residual income.
Duplication in Network Marketing is when you have a team of people working with you in creating their own teams in a system that anyone can copy. Just like McDonald’s has a system for making and serving food, a good Network Marketing company through their distributors will also have a system that is followed over and over, thus duplication.
For example, perhaps you are a Realtor. For the most part, you rely on the efforts of your own to make a sale. But if you were a Broker, you rely on a team of Realtors to make a sale and everybody gets paid. It’s the same with Network Marketing. When you build a team of people and they make a sale, they get paid and you also get paid, which of course is called a commission. If everybody on your team is working the same system and duplication takes place, the team keeps building and making sales creating a large residual income. (Unlike being a Realtor who sells a house once and is out of a job until he sells another house).
Besides for the income aspect of Network Marketing, there is also the time freedom aspect. Because you are not being paid for just your individual efforts, but also the efforts of your team or downline as they call it in Network Marketing you at times are able to have the time freedom to do what you want or need to do. This becomes especially important during a time of illness of a family member or yourself. Because of the residual income aspect, you still are getting paid even though your personal efforts have stopped.
Are you beginning to see the power of residual income through Network Marketing?
The other aspect of Network Marketing is the small amount of money you need to get started. Unlike a Cable TV company, Real Estate, and Investments, you don’t need usually more than $800 to get started. Most of the time a lot less, which is a good thing and a bad thing. A good thing when you are short on a large amount of money to start your own business, but a bad thing as you can easily take for granted your business because there isn’t much money wrapped up into it.
No employees needed! This is one of the things I love about Network Marketing. You never need to hire an employee if you don’t want to. Employees cost a lot of money. You have to contribute part of their SSI, and other things the Government requires an employer to pay part of. Most employees want an employer that provides a good medical and dental and retirement plan too. None of this is really needed in Network Marketing.
Little Overhead: Unlike a Franchise such as McD’s, your main office will be at home. Of course, you can choose to work anywhere so long as you have a phone and internet access. On the Beach, at the Lake, in an RV. It’s your choice!
No Inventory needed except for the products or services you are using for your own personal needs and wants.
No shipping on your part required (except for free giveaways if you so choose). The Company that provides the products does all the inventory and shipping for you.
No collections. This is a big part of a business. People who don’t pay. You get paid by the Company, so there are no collections involved.
Even though this article is about why I believe in Network Marketing, I do want to point out a few of the possible negatives. As with any business, it is not 100% perfect.
As with any business, it is not 100% perfect. The Company that created the product could go out of business.
The Company that created the product could go out of business.
The Companies management may make bad decisions that impact your business efforts.
The Company may have or start to have an inferior product.
The Company may not have structured the compensation plan correctly and suddenly you don’t get paid.
The Company can deem by certain actions made by you to ban you as a distributor, causing you to lose your whole business.
There are no health benefits. You have to buy your own at full cost.
Most people who join a Network Marketing business make very little to no money. (Due to many reasons of their own, such as a lottery mentality of thinking when they join they automatically will become millionaires. Little to no work ethic. Not teachable. And the list goes on).
So how do you hedge against these possible negatives that for the most part are out of your control? Most serious Network Marketers that are making a substantial amount of money have other investments such as Real Estate and Financial Investments creating a second or third residual income for themselves.
Now, I’d like to point you to Young Livings income disclosure link below and ask you to click on it and see the average amount of money an independent distributor can make at the different ranks. I can honestly not think of any job that can offer such an income without a college degree and even then there are ceilings on income that are put in your position that you are not able to break through unless you advance into another higher position which becomes limited as you climb the corporate ladder. Which brings me to another thing I love about Network Marketing. There is no ceiling! You make as much money as you want! Seriously! How much better can it be? Unlimited income potential, bonuses, and other goodies such as qualifying at different times for cruises and cars! Wow!
Once you grasp the great potential of Network Marketing in creating residual income and time freedom, you’ll be quoting the same quotes as me.
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May your days be filled with good health, good friends, good food, and most of all; much love,
Dexter D. Black
Disclosure Link http://dexterdblack.com/disclosures