It has been said that 10% of new millionaires in the US over the past ten years have done it by building businesses through network marketing.
Even well known authors and business people such as Robert Kiyosaki (Rich Dad Poor Dad), Donald Trump (Trump University) and Tony Robbins (Robbins Institute) have all stated that Home Based Businesses and particularly network marketing, direct sales and MLMs will be the biggest growth industry of the next decade.
The highly respected Forbes Magazine forecast that an incredible 79,000,000 new home based businesses would start over the next three years. That’s over 500,000 a week – and just in the U.S.
Now that’s certainly not to say that the MLM business model suits everybody. There is always a rather large drop out or failure rate, but then that holds true for pretty much any business, online, offline, MLM or whatever. Most Businesses do tend to fail in their first 4 years, but out of the tens of millions that are started each year, there are plenty that do succeed.
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Entrepreneur Magazine estimates that the US home-based business industry may be worth over $420 billion a year; that’s more than pharmacy; food; and consumer goods combined; with an average home office household earning of 65,000 US dollars a year.
With increasing financial uncertainty; job lay-offs and a shift in thinking to create a better lifestyle, home based businesses as either an additional part-time income or replacement of primary income can only grow massively over the coming years.
So exactly what does it take to succeed with a network marketing business. Most experts tend to agree on the following attributes:
- You must be prepared to “network” with likeminded people. People who join network marketing companies and do nothing never get anywhere. The only way to succeed is to get involved and build your business. Now this doesn’t mean you have to become a leech to your friends and family and sell them stuff, or join them up. On the contrary, most successful MLMs run proper businesses, they learn the value and develop the skills needed to generate quality leads to their business. People who are already looking for the products or services they are selling and offer their products.
- You must have some marketing knowledge, or be prepared to learn some. The internet has been a godsend for people looking to generate leads to any type of business. Gone are the days when you had to run newspaper, classifieds, radio ads or letter box drops in order to generate leads. Nowadays anyone looking for pretty much anything is looking online. So all you need to do is know how to get your message in front of the people who are already looking for it. Most good network marketing companies offer some kind of basic level marketing support, but it’s always a good idea to seek out those who are willing to go the extra mile and teach you everything you need to succeed.
- You must be prepared to do some real work. A lot of people join network marketing companies looking to “get rich quick”. But the reality is, most of them are not prepared to do the work it takes to be successful. Yes there is a lot of money to be made in network marketing, but it’s not a sure thing, you still have to work hard, especially at the beginning if you want your business to take off. (just like you do in any business venture, or anything else worth doing for that matter)
- Believe in the products you are selling. This should be obvious, but needs to be said anyway, make sure you choose a company who sell products that you actually believe in, use and are happy to recommend other people use. To be success in your business you are going to be spending quite a bit of time talking about your products, so make sure it is something you can relate to and get excited about selling.
So if that sounds like you, then perhaps you have what it takes to build a successful network marketing business.
So the only question you have to ask yourself now, is which company will you join…
Here is a list of some of the more popular network marketing companies running today:
- AVON (Makeup & Cosmetics) – Visit Website
- Pyxism (Holidays & Vacation Deals) – Visit Website
- Mary Kay (Cosmetics) – Visit Website
- Melaleuca (Wellness Products) – Visit Website
- Herbalife (Weight loss Products) – Visit Website
- Lifepath Unlimited (Personal Development Courses) – Visit Website
If you think network marketing might be for you, don’t forget the points above and make sure you find a company with a good support network that can help you get started.
Featured Story: Meet Michael Force, A former U.S. Marine who now makes a 7 figure income online. Michael has trained thousands of people from all walks of life how to replicate his own success by following his proven successful system. Click here to read more.
I’ve done a few network marketing or MMM businesses before and actually made a few checks on one. As posted earlier, I agree you really do have to work and market your business to make it work. You always remember your Why’s when getting frustrated as with any business. My biggest feat was to educate a lot of people about it, especially when they were so hyped up about pyramids, fear and all.
Lots of great Network/ MLMs are even registered wth the BBB and have great histories and track records. Avon for instance and Mary-Kay are no different from Ameriplan, Nature’s Sunshine and some of the rest. It really comes down to basically one thing, either prospects will get the big picture or they wont. There are so many who are looking for great opportunities in this economy today. I would just suggest for anyone to take time to do a thorough research and never paid an extremely large amount as overhead for any business. Make sure your overhead cost is feasible for you and after successfully working your business you will exceed overhead cost and even more retuns. “A business will never work if you don’t work it”. Not stating all Network Marketing/MLM’s are great but some really are…Do the homework.
i enjoy network marketing,my goal is to quit my day job next year about july or august.its been a year and a half and im almost there.you do need a good and active upline to get off the ground.after that ,the work gets easier and your bank account grows!im looking for new wats to advertise my product,any ideas?
love your site!
Great site, and fantastic infos.
I originally started out with network marketing selling a range of nutritional products and it was going really well. However, in the old days (when the Internet wasn’t so prominent) it was a lot of hard work. It still hard work, but a lot of things can be automated now.
Hey You’ve got a great blog here! I’m definately going to bookmark you. I have a MLM Tips website which pretty much covers Automatic Lead Generation, Website Traffic, SEO and Basically how to Conquer The Internet for your Business. Come check it out when you have time.
Your blog is nice, however, using a more colorful scheme should help increase your number of visitors.
Great article!!! More education you have more chance you get but Only High education is not enough to get succeed so if you need to succeed Experience from Learning by Doing is the best way. Thanks for nice post.
I prefer affiliate marketing. I don’t like having to pay for and stock inventory. MLMs are great if you have a good teacher and are not so pushy. Of course, that’s with any business.
I completely agree network marketing will grow and grow. I can honestly say I find it fascinating to continue learning and communicating with like minded people and lets face it …. the Internet is an ever evolving machine so the learning will just go on and on.
i am newbie in internet marketing…please your advise
I like this article… Network marketing is really good opportunity to make huge money
Hye,
Thanks for this great info.
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Thanks for spotlighting ideas that were very helpful.
The information presented is top notch. I’ve been doing some research on the topic and this post answered several questions.
For someone who is been involve in MLM for past 2 1/2 years I must say I really love every thing about it. the entire instruction is build for success. for lots of people of course is not the same and I think its because they really don’t know how to promote their business.
I believe a Great upline for a newbie is a essential. They can pave the unknown path for them.
any way good post once again.
Kathy Kern