Why Network Marketing Is A Good Business To Be In.
Have you thought about having your own business? That is the question of the day. Many people think about having their won business but do not get past “thinking about it” simply for a variety of reasons ranging from not having enough start up capital, not believing they can succeed, they might or will fail, not knowing what business they would start, and the idea that this not the best time to start a business because of the economy are only a few of the reasons people who think about a business of their own do not start one.
Would you believe it if I told you the answer to each of these concerns and any other concern one could think of regarding starting a home business is Network Marketing. If you have ever thought of starting a business you owe it to yourself to read the rest of this short article and ponder what I am about to point out. Depending on your level of knowledge of network marketing or your experience you may be saying “you’re kidding me right?” No actually I could not be more serious.
The most common questions I get are:
Q. Isn’t that something like a pyramid scheme?
A. No, it is nothing like a pyramid scheme. First off those pyramid schemes are illegal and not tolerated by the Federal Trade Commission which should be a comfort to you.
Q. Isn’t it true that the first people in a network marketing company are the ones who do the best and make all the money?
A. Getting in early is never a bad thing, however this is not a guarantee of success nor is it mean that one who gets involved at a much later date has any less of chance to be just as successful as one who got in early or near the start of a network marketing company. In fact for a network marketing company to be legit it must offer all individuals the opportunity to exceed their or pass their sponsor in income if they are truly working the business harder than the person or person’s above them. This is another aspect that makes network marketing legal. For example if I sponsor you into a business and you work at it harder than I do and build your business more than I do mine, your should be compensated more than I am.
Q. Aren’t home businesses expensive to start?
A. Most network marketing companies allow an individual to get started for under $100 and average less than $200 per month to maintain. Ask yourself this question. What business can you start for around $100 dollars and maintain for around $200 per month. The average business start up is around $100,000 or more and costs tens of thousands of dollars to maintain on a monthly basis when you take building rent, supplies, inventory, and advertising to name only a few overhead items. There is no guarantee that any business will be successful but there is no business that has the return on investment a successful network marketing business has.
Q. What should I look for in a network marketing company?
A. There is criteria one should always consider when deciding on a network marketing company.
1. A good network marketing company should be completely debt free and have money in the bank as well as being forth coming and transparent about its financial health. This is important if one want to get paid on a regular basis.
2. When one looks at compensation 60% or more of the income should be getting paid back to its distributors. If this amount is less one should be weary and cautious. Network marketers are the advertisers of a company and they should be paid well.
3. The company should have a strict quality control mechanism overseeing their product. They should also have a strong compliance department to ensure no one is jeopardizing the welfare of the rest of the company and other distributors.
4. The network marketing company should provide training tools and events one can involve them self in to be successful in their business. Theses events and tools should be low cost or free. The company should not be making large profits off of their sales and training tools, after all they are not in the sales and training tool business.
5. Be careful to not get sucked into trendy or fad companies. There is a new juice every week that makes some claim that is often never substantiated as being true.
6. A solid stable company should not be promising thousands of dollars in income in order to entice people into joining. The product needs to be there enticing aspect not false promises.
7. If you want to get involved in a company and do not know someone personally you should interview the person who signs you up. That person should have been actively involved the business for at the very least 6-12 months. When I say actively I mean they should be devoted to the business and product the company offers. This is important because you do not want your sponsor running of to chase the latest craze out there. You want someone who is as devoted and committed as you are.
8. Avoid the companies that are advertising making $10,000 per month or week. While this is entirely possible to do with you own network marketing company, it is not where people start out.
9. Avoid the company that tries to convince you that all you have to do is sign up and they will do the rest. In theory this type of compensation plan sounds good, but they seldom work. You cannot get something for nothing. It just does not work that way.
10. You want to be involved in a company that does not require you to buy inventory but instead just what you will use personally in one month. Ideally you do not want to have to stock inventory as a part of you month business volume in order to maintain your distributor status.
11. You want to be involved with a company that will pay you at least bi-weekly, preferably weekly.
12. The company you choose should have a compensation plan that is easy to understand and make money at.
Q. Why do so many people have difficult times with the concept of network marketing?
A. The reason is that many people have either been hurt by false claims of their sponsor. Also people are out there on the internet and in the papers saying the same things on how to make money fast and quit your job, people making false claims and not keeping their promise give network marketing a bad name.
I have done a number of businesses and there is only one I have found that lives up to everything and more that I have wrote about in this article. If you are serious about starting a home business then you owe it to yourself to watch the video.
One of the greatest reasons to have your own home business today is so that you do not have to participate in this recession or what ever they are calling it today, and to help others. A true networking company is one that unites people together to work as a team.
Please feel free to contact me personally and I will answer any questions you may have.
Best regards
Bill Reinicke
505-261-6630
Email Me