The Rumors of Network Marketing
We’ve all heard the rumors of Network Marketing. Maybe your mother warned us it’s a Pyramid Scheme. Or your best friend told you the story of a friend who knew a friend who lost money doing “one of those things.” Whatever the scenario, there are plenty of horror stories out there to go around.
What is Network Marketing
Network Marketing is a business model in which a person (known as a distributor or representative) can build an income from their efforts, and the efforts of a team. Usually a distributor sells products from a Network Marketing company, and attains partners to join them in the business, and receives compensation for all of this.
Network Marketing is also known as Direct Selling, or Multi-level Marketing (MLM).
Many people who simply don’t understand the industry try to call MLM an Pyramid Scheme. The difference between a pyramid scheme and a lawful MLM program is that there is no real product that is sold in a pyramid scheme. MLM companies on the other hand offer products and services of value.
There are good and bad companies
As you’re looking into Network Marketing be sure to do extra research on any companies you’re considering joining. It’s important to find the right Network Marketing Company for You. Just like with anything else, there are good and there are bad. I would love to say that all MLM companies are super fantastic and legit,… just like I would love to say that about ALL businesses. But the truth of the matter is that there are unscrupulous people all over in this world. So do your due diligence to get connected with the right company. Read our article How to Find the Right Network Marketing Company for You and be sure to check out our Work at Home Directory of companies.
Can you get rich from Network Marketing?
Like anything else in life there are factors to consider that will play into your success or failure in Network Marketing or any other business venture. Here are a few things to consider…
- Have you ever owned a business previously?
- Do you have the time to invest?
- Are you committed?
- Do you believe you can do it?
Very few people get rich in Network Marketing and it usually comes down to a few things. Those things are lack of a growth mindset, not investing enough time or investing time on the wrong activities, not being consistent and committed in their daily money-making activities.