According to a 2006 Yahoo poll, two-thirds of Americans want to venture out and create their own home business.
Most of us have been approached by someone, maybe a friend or family member, who is trying to sell us the latest vitamin or home product. They have just joined “the best company” out there and you need to get in on this deal before it’s too late.
They are Network Marketers.
This is the vision most of us get when we hear the words Network Marketing or Multi-Level Marketing.
But the truth is, when done right, Network Marketing can be one of the most powerful business plans available today. The most important part of the previous sentence is “When done RIGHT”.
Networking allows anyone and everyone the chance to create their own business. Do it for very little money down and start part time after work or on weekends.
The lure of easy money and testimonials of a few people who are making 6 figure incomes or tens of thousands of dollars every month have drawn thousands to the ranks of network marketing. They have been promised that they too can achieve this amazing wealth but are never trained to do it. Hence around 95% of them fail.
They warn their friends to stay away and bad mouth any person or plan they see that mentions network marketing. Network marketing has become the most maligned industry in the U.S. today.
So why should you want to start a business that involves Network Marketing. Because the 6 figure income is possible; you just need to get past the negative word of mouth and see how when done properly the Network Marketing Business Plan allows you to do something you love, be your own boss and still make a very nice living.
Here are some of the top reasons you should consider network marketing as your entry into a home based business.
1. Time Leverage – For most of us, we go to work, we put in our 40 hours for the week and we get a paycheck for the hours we put in. We trade our time for money. The only way to make more money is to put in more of our time or if you’re lucky, convince your boss to increase your pay.
Networking Marketing, however, frees you up to increase the time you get paid for. As you build a team and increase the number of people working with you in your downline, you also increase the number of hours worked in the business. You get paid for your 40 hours a week but you also get paid for the hours they put in.
This is leveraging your time.
Now let’s say you decide you only want to work 10 hours this week in your network marketing business. If you have 20 people in your downline that also decide to work 10 hours this week, you will get the benefit of your hours and theirs. That’s a total of 210 hours. Can you imagine trying to work that many hours at your “real” job this week? You only need to put in 30 hours a day!
As J. Paul Getty said, “I would rather earn 1% of 100 peoples efforts than 100% of my own efforts.”
2. Duplication – According to the dictionary duplication means … “To make an exact copy of” or “To repeat”.
For network marketers it means teaching, showing and helping other people to repeat or carry out a series of actions. Duplicating yourself means teaching someone else to follow a simple set of plans and repeat what you are doing. They in turn will duplicate themselves and your business will grow. This will result in your organization growing and taking on a life of its own.
This is how to begin to leverage your time.
3. Residual Income – The true power of network marketing is the power of residual income. It is the ability to get paid over and over for years to come on the hard work you do today.
When you first start your business you have not yet duplicated and therefore don’t have any time leverage. The hard work of planting the seeds will develop and grow into a wonderful harvest. The harvest is the residual income you earn from developing and leading others in planting their seeds.
This duplication creates time leverage and in turn creates a residual payout from the work of the downline you have grown.
Working and helping others to achieve their dreams builds your success. This is the TRUE POWER of NETWORK MARKETING. Your success depends on the success of those you train. It is in your best interest to help those below you and build them up. It’s a business plan of helping others instead of climbing over and stepping on those below you to reach the top.
4. Tax Advantages – Creating a home office can be one of the smartest things you ever do. Having a network marketing business that you work out of your home allows you to take advantage of many tax savings. The only requirement is that you do your work like a business and keep records of all the things you do. A journal is a great way of doing this and it’s easy too!
By having a home office, you can write off part of your house mortgage and the costs to maintain that part of your house. You can write off your car, lunches at the restaurant, trips, and many other things you are already doing. As long as the cost is business related and you document it, you can write it off.
The tax advantages gained by opening up a network marketing business out of your home can save you hundreds if not thousands of dollars each year. So before you have even signed up any downline or sold any product, you are already, in a sense, making money from your home based business.
Network Marketing truly is a powerful business plan. It makes everyone work as a team towards a common goal; A goal of success!
No business works itself.
There is no such thing as free money.
It’s all in the POWER OF NETWORK MARKETING!