After beginning my journey into affiliate marketing and other web based opportunities, I recently had lunch with a friend who is very successful in the Network Marketing industry. If you aren’t quite sure what network marketing is, then think of companies like Avon, Mary Kay, and Herbalife. Yes, I know that will probably bring up instant feelings about MLM (multi-level-marketing) businesses, with opinions that revolve around the phrase “pyramid scheme”. To be honest, I pretty much felt this way myself. In fact I felt that there was no way a common person could ever be successful with it until recently.
Over the past two years I had noticed that several friends of mine had signed up with various network marketing companies. Most ended up doing nothing with it, but a couple of them actually did well enough to quit their regular jobs and jump in full time with their new venture. So this sparked some curiosity and I decided to find out some more. After digging in, I discovered a few things about networking marketing that either makes it a good or bad decision for you. Yes, it is a very viable option for some, while others should steer clear of it all together. Let’s break down the how’s and why’s.
Network Marketing Cons
The immediate con that needs to be overcome by anyone thinking about jumping in, is your initial opinion. We all have visions of candle and makeup parties, while perpetually bugging the hell out of our friends and family to try and shame them into signing up into your organization. Is this the truth for some? Yes, it is. But today’s rising stars in the industry know how to talk to people and market themselves to more than their inner circle.
Leads. If you don’t have a method to or a mentor to help you how to understand lead generation, you are going to struggle. It’s called network marketing because you have to be able to effectively create and maintain your network. Your success is ultimately tied to this.
Maintaining your motivation to succeed. This is by far one of the biggest hurdles that new comers to the industry must face. The first couple of weeks are great, but being able to stay motivated and drive through the difficult startup period is key. One of the best ways to make it through this part of the game is having a mentor to help you through. If you signed up under someone who they themselves have no idea how to help you, then you need to search for someone that can. Many times its better to do this first to see if it’s your cup of tea or not.
If talking to strangers is something that makes your skin crawl, then you are going to have a difficult go at network marketing. Sure, any beginners blog will tell you to make of list of everyone you know from your grandmother to your mailman, but the likelihood of any of these folks actually being the one person in your down-line to earn you that new Mercedes is rather slim. You need to be smart and targeted with who you talk to, but you must be able to effectively talk to these targets.
Network Marketing Pros
Let’s go ahead and get this one out of the way. If you stick with it, find the right people, and most of all, the right company to sign up with, the money you can make is outstanding. The best part is that it is residual, or in other words, pays you every month as long as your down-line is maintained and productive. Easier said than done right? Right. You have to be a good leader and coach. You will inevitably sign up people who have never done it before and you will need to coach them up to get through the hard parts. This pays off twofold; 1. It helps the people in your group become individually successful 2. You earn more as your organization grows and produces more total results.
One of the other big benefits is being your own boss. The freedom of having your time become your own time again can be exhilarating for some. If the thought of a Monday thru Friday, 9 to 5, does nothing but bore you, then network marketing could be a good option for you. You don’t technically have to go through the pains of starting your own business, but can get a similar sense of satisfaction.
Finding a company whose products and mission align with your interests and beliefs is a nice change of pace. Unlike regular job hunting, where many times you have to accept a position at a company that doesn’t blow your mind, network marketing allows you to do all the research you want and find the company that is the best fit for you. Whether its coffee, energy drinks, makeup, health products, the list is endless. Find what you are interested in and your chances of success become that much better.
So those are some of the basic plus and minuses of network marketing. It certainly is not for everyone, but in the end I have found it to be a very valid method for a company to sell its product and services. Instead of spending tons of money on marketing, they spend it on the people who in turn market it for them. If your interested in giving it a shot, make sure to choose the right company, and sign-up with an experienced MLM’er. By aligning yourself with something you enjoy and a person who can guide you through the hard parts, you exponentially increase you chances of success in the industry.
If you have a question, post a comment below or reach out to me on my Facebook or Twitter pages. And as always, keep grinding!