Network marketing, sometimes referred to as multi-level marketing, is one of the world’s fastest-growing industries. It offers the opportunity to launch your own business without the typical massive start-up costs; the rewards in network marketing are immediate. A variety of network marketing businesses have been endorsed by entrepreneurs like Warren Buffett, Richard Branson, and Bill Gates.
While most “get rich quick” offers are scams, network marketing is for real; no other industry empowers so many employees to earn six-figure salaries within their first year.
You may have only just heard of network marketing, but it has been evolving as an industry for almost 100 years! Top network marketing companies like Nutrilife and Avon date back to the 1920s and 1930s, when they were known respectively as the California Vitamin Company and California Perfume Company.
Since these companies’ initial entry into the marketplace, network marketing has exploded to include hundreds of companies in every imaginable industry. Relying on innovative products, creative and effective marketing campaigns, and the hard work of individual distributors, many network marketing companies have become dominant enterprises in their industry. Several network marketing giants now rank consistently on the annual Fortune 1000 list.
Network marketing companies have a vast impact worldwide, as recent statistics list annual sales from network marketing companies at $182 billion. According to a 2015 study, Australian network marketing companies reached almost 1.5 billion AUD in annual sales last year. With these numbers growing each year, it’s no challenge to see how new entrepreneurs can become part of the success story.
Millions of people start new business ventures over the course of a year, ranging from small businesses and individual enterprises to large companies with significant backing. However, the facts don’t lie: the majority of new businesses fail within the first 12 months. Whether it’s excessive start-up costs, poor leadership, or a lack of support, something is keeping these businesses from getting off the ground.
The industry that stands against these figures is network marketing. Rather than producing failures, network marketing is producing success stories at an incredible rate. Whether they are committing full-time or building a business around the demands of an office job and family life, new network marketing entrepreneurs are finding success in an industry that rewards hard work and creativity.
The benefits to starting a network marketing company are numerous:
Once you go out on your own with a network marketing business, you set the agenda. Everything from your work hours to the location of your office is under your control, and you are no longer answering to anybody but yourself. Want to take a meeting at the beach? No one’s stopping you. Don’t want to answer an email before noon? Not a problem. You’re in control, and you can work in the manner that best suits your habits.
Employees in a big corporate office know the feeling: how can they possibly get work done when they’re being hounded day in and day out by overbearing bosses? However, the alternative is often the case with new entrepreneurs: how can they get work done with no structure? Network marketing offers the best of both worlds: no corporate suits watching over your every move, but a significant brand infrastructure to help you to succeed.
Network marketers make money. If you’re willing to work hard, you’ll be rewarded with the financial gain from your business. While your previous corporate work may have only benefited your managers and bosses, your growth in network marketing goes directly into your bank account. Many network marketing companies offer substantial incentives for successful distributors, enhancing the benefits of your effective work.
So how does network marketing work? And how do some network marketers earn such impressive salaries within just a few months?
The first and most important aspect of your network marketing income comes from direct sales. Without a product to sell, network marketing wouldn’t exist. From nutritional supplements to beauty products, network marketing companies fill gaps in the market with new and innovative products. Through hard work and determination, you can establish yourself as the local face of your industry and work your way up to impressive sales numbers. With a little bit of luck and a lot of effort, you’ll see your reward in the satisfaction you provide to customers and the profits from your sales.
While network marketing is often pitched as an industry where you can build a “downline” of team members working below you, it is a fallacy that you can make your millions on the work of others. Regardless of how big your team is or how many income streams you’ve established, your main source of profits will be your own hard work. In many cases, hard-working network marketers earn more than the person above them. The bottom line is this: if you are coming into network marketing expecting a carefree, easy path to a fortune, you’re heading down the wrong path.
As we mentioned earlier, network marketing opportunities can be found in a wide variety of industries. If you look around, you’ll find a company that interests you. Once you find an opportunity that you’re passionate about, the work becomes easy.
Network marketing businesses offer direct sales of everything from beauty and skin care products to food and beverages to clothing to electronics. Find a product that you think will improve the lives of your network of friends and family and then go into business. From that point on, your work is simply a matter of sharing a product that you are passionate about with family, friends, and new acquaintances. If you truly love the product that you’re selling, it won’t feel like a sales pitch – you’ll just be helping others.
With that, we’ll leave you with one of our all-time favourite entrepreneurs: