So you’re considering joining a network marketing company and you’re not sure is MLM is for you? Wondering about some of the “pros” and “cons” of network marketing? Let’s break it down, first by looking at some of the PROS of network marketing.
- Low Startup Costs – For usually less than $500 you can access a complete “business in a box” that has the potential to generate a full-time income.
- Time Freedom – Unlike a “second job”, your MLM allows you to work as many (or as few hours) as you like.
- Build Your Skillset – A lot of people don’t think about this one, but when you run your own MLM home business, you’re also learning how to sell, market, manage your time, manage your advertising budget, and other things that can carry over to your success in almost any other arena of life.
- Personal Development – Network Marketers are some of the most positive and upbeat people you will ever meet. They believe that if you better yourself (by learning new skills), you’ll be justly rewarded. This optimism and drive to keep learning new things makes this a great industry to be part of.
Cons of Network Marketing
- Lack of Respect – You ashamed to tell your friends and neighbors that you’re involved in another MLM? So are most other network marketing reps!
- Low Success Rate – The stats vary, but it’s pretty clear that most network marketers never generate the kind of income that their upline promised them. There are a lot of reasons for this, and a lot of this can be overcome by using a funded proposal for generating leads (like this one), but most MLM reps don’t become rich and famous. Of course, 2 out of 3 every small business also fails, so it shouldn’t come as a surprise that network marketing has a similar success rate.
- A Money Pit? – I’ve known reps that spend a lot of money on leads, systems, and trainings and never earn much in return. However, keep in mind that your average Nascar or NFL fan probably spends hundreds (if not several thousand) dollars per year on their hobby. For some, network marketing is their “hobby”.
As you can see, on my list the pros outweigh the cons. To be honest with you, I feel a lot better about my business today just from writing this post! Is the journey difficult, yes, it is! Is it worth it? You have to answer that question for yourself, but for me, it’s been a great ride!
Are you happy with MLM? Please leave a comment and let me know!
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