You can:
- Mortgage your home and cough up a huge chunk of money to start a new business from scratch.
- Purchase an established business or a franchise with that $80 to 100k you have saved.
- Buy a "turn-key" one person business for under $1,000 creating gift baskets or personalized novelties, for example.
- Pay from $40 - $500 to join a network makreting organization with a sponsor who will help you work through your learning curve, so you get off to the best possible start.
This blog, among other things, will present the highlights of the MLM / network marketing industry. Let's start with what network marketing is NOT.
The network marketing industry has been around for about 50 years. In that time we have seen the con artists abusing the business model, and the great successes, and everything in between.
Network Marketing is not, nor should it be confused with the illegal pyramid scheme.
Pyramid schemes are called "Get Rick Quick" opportunities, but they are really scams. Watch out for claims of enormous overnight success. Average earnings in a true MLM business are typically modest at first. It takes time, effort and persistence to create significant residual income, just as any business would. And there is a learning curve, especially if you have never run your own business before.
A legitimate network marketing company does not make exaggerated claims of easy wealth.
A pyramid scheme operates by paying commissions to people to recruit other people. That is, profits are made from sign-up fees only. This practice is illegal.
A pyramid scheme does not have a real product for sale; the scheme itself is the product. A classic example is the chain letter - paper or more likely electronic these days - asking for money, and telling you to copy and send the letter to 10 other people to get paid yourself.
A legitimate company has a product that anyone can buy, even if they are not a distributor for the company. The products are often consumable and commissions are earned on sales volume only.
So how do you identify a legitimate MLM / network marketing opportunity?
Follow the money. What happens when you join? Is your sponsor paid even if you don't buy any products? Look for a product that interests you, that you think you could get excited and passionate about, and that pays you on sales volume, and you'll be fine.
Any other pay plan is risky as it will only be a matter of time before the company is shut down or forced to change there business practices. Neither of which is beneficial to you.
For someone motivated and willing to put in the time, effort, and persistence needed to achieve his or her financial goals, network marketing companies provide that opportunity. Developing a business owner mindset and applying a consistent effort, over the course of a year or two, can earn a decent second income on a part-time basis. Or you can spread your wings and achieve complete financial independence. The choice is yours.
The beauty of the MLM business model is that it is available to everyone. It's what you do with the opportunity is what makes the difference. You can earn little to nothing, or you can dig in and earn a very lucrative income, even achieve financial independence in 2-5 years with the right sponsor support, and the right company.
Add my RSS feed to your website to stay up to date: http://mlmworkathome.blogspot.com/atom.xml
Visit MLM Work At Home for more on MLM without the hype.
