Amidst the ups and downs of the world economy due to unusual situations such as the pandemic, many businesses have been affected and are struggling to remain alive while some others have moved out of the market. However, there is a business that has kept thriving even in the face of all the challenges that shook the world. Those who are in this business continue to prosper and scale their business. This business is referred to as network marketing.
Network marketing is such an impressive, easy and excellent business model that even those that have been into other businesses and have succeeded wish they knew of network marketing when they’re just starting out. Some even went to the extent of telling the world that if they are opportune to start from scratch again, they’ll join the network marketing business. I am a good example of this. Despite the fact that I personally have 4 different businesses and invested in stocks and properties, I still go all the way to join the network marketing business. You might be wondering why I do this. It’s because of the endless benefits in the business model, which cannot be found elsewhere. These benefits are what we want to show you today. But before that, it’s important that you know what network marketing is all about.
What’s network marketing
Network marketing is a business that utilizes a network of distributors to generate leads and make sales and recruit more distributors. The network is built in a way that individuals serve as a salesman that makes sales for a company and brings in more sales agents under their wing, and gets rewarded for doing so. This reward is termed as commission. It involves a direct sale of products from the company to consumers through their agent instead of retailers.
It’s a business model that many rich and successful people endorse for people who wish to grow their wealth faster. Here’s what Robert Kiyosaki said about network marketing; “We found that one business model stands out of the rest. This particular business model creates passive income but requires relatively little cash investment to start up. It has a very low overhead and can be operated on a flexible part-time basis until it generates enough cash flow for the entrepreneur to transition out of his current full-time job. That business model is called network marketing”.
Network marketing has been called different names over time, some of which are affiliate marketing, multi-level marketing business, direct consumer marketing and home-based cellular marketing. All these names are derived from one or two characteristics of the network marketing business. But it’s not the name that matters to us. What really matters is the understanding of the business and how you can start your own journey of milking the sweet rewards in it.
Now that you’ve understood and had a clear mind about the network marketing business that has always rung a bell in your head, you want to know what is in it for you if you decide to opt into the business. Although the list is endless, below are some of the advantages that made network marketing exclusive among every other business model.
1) High Demand
We cannot emphasize this enough. Network marketing businesses have thrived in the rosy season the same way they thrive when the world is faced with challenges. The reason for this is that network marketing companies produce products that people always need. So, there’s immense demand for the products, which is why sales keep flowing in. This phenomenon of product demand is one thing that every business needs to take into consideration to be successful. With network marketing, everything is already done for you. Your job is to use the high demand to your advantage and make a huge profit for yourself and others.
2) Low StartupStartup Cost
The number one obstacle that usually stops a lot of people with good potential from starting a business is the lack of capital. The traditional business requires a huge amount of capital to set up and maintain its balance, which is a factor that has prevented people from starting their own business. However, network marketing has made the lack of startup cost to be a story of the past as you can now start your business with little capital and scale along the line.
3) Mentorship And Training
Unlike any other business, network marketing gets you covered when it comes to getting the right training and mentoring that will get you to your destination faster with fewer mistakes. This saves you from making the long journey of figuring out things for yourself and making a lot of errors and mistakes that can get you into trouble or send you out of business. Since you have someone who already understands the business environment bringing you in, you can receive the required guidance that will help you get started, make your sales and set you up for bigger wins.
4) Price Stability And Regularity
If there’s one thing sweet and exceptional about network marketing business, it’s the characteristic feature of price stability of network marketing products. Price manipulation is one of those factors that easily disrupt the upward flow of market sales of businesses. It can either be favourable or unfavourable to those involved in the business. This problem has been handled in network marketing as the products do not need to pass through retailers that’ll manipulate and deregulate prices. Rather, it’s passed to the consumers through agents that work directly with the company producing those products. This gives network marketers a better edge above any competition and eases the way to making sales for them.
5) Mouthwatering Commission and Profit
Just like the smile that appears when you receive a credit alert, one of the things that bring joy to distributors is the realization of their commission for the sales they’ve made. This profit is immense and much more than what a traditional business owner will earn from his products or services. If this is all that you can get a commission, it’s more than enough. But network marketing has more for their agents; you get rewarded for the activities of other marketers under your circle. This means that you earn from your sales as well as the work of other marketers below you, which amounts to greater profit at the end of the day.
6) Global Nature
Products sold in a network marketing business are usually global in nature. What do we mean? Everyone around the world, irrespective of their location, can use the products and get the best from them. This is an extra advantage for network marketers as there will be no limit on how much you could make and the part of the world where you can sell the products or services. It also means that location will not be a barrier for anyone who wishes to join the network marketing business, which is a great opportunity for the distributors.
7) Social Skills Improvement
Network marketing does not only provide an easy way to start a business. It also helps you to build and grow some essential skills, one of which is the social relations skill. By hearing the name network marketing, you will have had an idea that it comprises interrelationships between many people. This calls for skills that help you relate with other members of your team to achieve success together. With multi-level marketing, you do not only make money for yourself, but you also build excellent social relationships with other people towards a common goal. And this alone means you can get far beyond expectation.
8) Personal Growth
Network marketing is a business that develops everything about your life, from your mindset and productivity to your financial life.
9) Residual Income
Do you always love the idea of earning while you’re sleeping or on vacation to that city you always dream of visiting? Of course! Everyone loves that. But your job and business do not allow that to happen. You can easily achieve this with a network marketing business. And it comes in two ways; from the commission on sales, you made from your automated website and the residual income you get from your rank as a retirement plan. This makes the internet marketing business incomparable to other businesses.
10) Community Of Likeminds
If you always want to succeed and impact others’ lives with your success, network marketing is the business for you. It’s all about the success of everyone in the community. The system works in such a way that I have to help you to grow for me to grow and vice versa. The community runs like one family where everyone cares for one another, inspires, motivates and seeks the growth and success of the other, a kind which is not present in other businesses.
11) Minimal Effort
This is another vital reason why anyone would want to join the network marketing business. Unlike the traditional business where you have to keep working on getting your business moving, multi-level marketing requires minimal effort to start and move to achieve more success. The interesting part is that you only need to put in the necessary work at the beginning of the business and watch it grow with the commission from your sales as well as the activities of your downlines. With this merit, you can worry less about the success of your business when you decide to retire, as it’ll automate itself with the help of your network to keep bringing income even when you retire.
12) Time Management/consumption
Time is with no doubt one of the most precious assets in human life, which determines our success and cannot be regained when lost. We usually need it to accomplish many other crucial tasks in our life apart from making money. A network marketing business is the first of its kind that gives you the opportunity of time freedom while running a business. You can run your business based on your own terms and scale it how you want. The flexibility of the business model also means that you’ll be spending less time running a successful business.
13) Employee Free
This benefit is enough to join the multilevel marketing business as it creates flexibility and ease in running and maintaining the business flow. Managing employees, payroll, tax, and productivity all consume a lot of effort, but is not present in network marketing. You have to manage only yourself to make the best profit, and you don’t need to face the complexity of employee-based businesses.
14) No Billing/Account Receivables
One of the challenges of the traditional business model in the past was the stress of receiving money for the products you sell. The internet has changed the game for everyone so that you can easily receive payment online. This benefit of the internet works well with no business better than the network marketing business as it’s based online. You can easily bill your customers and let the company handle the rest.
15) Freedom Of Working Location
Many people dislike the location of their work. Some people prefer to work in the comfort of their home. A network marketing business provides the opportunity to work from wherever you want at whatever time you want. You’re not restricted to certain locations, which make it easier to practice than the traditional business. Once you have your laptop, internet and the mindset to succeed, you can run your business from anywhere around the globe.
16) Give to your family
Like every other business, network marketing gives you the skills and experience required for your personal growth and helps you to pass this on to your children. With this business model, you’ll have time and space to train your children and build them on a positive level to fit into the business world. You can also teach them this business and get them started from an early age so that they can achieve better results as they grow older.
17) Financial Freedom
The reason behind the establishment of any business is nothing but to get rewarded for your products or service with a steady flow of income. Multi Level marketing business is not left out of this. It allows you to make a profit from sales from your work and the activities of other marketers in your network. Since the goal of every community is to ensure the success of every member, it’s easier to make more money and enter the kingdom of financial freedom where you don’t have to worry about your finances anymore and can focus on other important aspects of your life.
18) Enhanced Business Growth
Whenever some people hear about the network marketing business, nothing comes to their mind other than a Ponzi scheme. However, the reality is not what they think; rather, it’s a blessed opportunity for anyone looking to grow a business. Multi Level marketing provides a growth pattern of building a business and scaling it for improved sales and overall success. Here’s it; as you learn from people who already have experience in the business, grow your own business and train others to become successful, the extent of what you can achieve with this business is beyond measure.
19) Tax Advantages
Yes! Rich people are not just recommending this business for the money or time advantage. They understand the importance of tax avoidance to create wealth, and that’s why network marketing impresses them. With this business, you have tax advantages over employees since you have your business. And you will spend less time and energy compared to a typical business owner. If you want to know more about your tax advantages, we advise you to meet your tax advisor.
As much as it’s important to have a source of income, the security of your income source is also essential. This is what we mean; the pandemic has shown that different business models are more secure than the other. Many employees lost their jobs as many companies went out of business. This emphasizes the need for income streams that stand the test of time and survive even in the hard times. Network marketing is one of those businesses that you can add to your streams of income for improved security.
In conclusion, network marketing is a strategy that has changed the game of the business world and has provided more opportunities that are missing in the traditional business. As mentioned earlier, we are not the only ones recommending this business strategy. Top influencers and successful people have also recommended and shown interest in the business.
Oprah, Donald Trump and Robert Kiyosaki all endorse network marketing businesses. They gave their reason that it’s easier to start and scale a business with other people’s products when it’s a good product. And in the end, it’s a win-win arena for everyone involved in the business, from the consumer to the producers and network marketers.
We are part of those who have benefited from this business model and have enjoyed the immense benefits from the commission, mindset shift, free time and financial freedom to the ability to work from home or anywhere we want. The network marketing company we distribute for is called Enagic.
This company has been around for about 48 years, which depicts their legibility and the stability and quality of their products. They have an amazing network pattern that can get you the best return and protect your future retirement.
With Enagic, you’re improving your health and wellness and that of your family and friends and improving your business by sharing the life-saving product with other people. You can start as a side hustle with your job and concentrate when you have grown your business to a reasonable level. This is the reason why we join the business despite having invested in other businesses, and investments and many other people keep joining the train. We can proudly say that the Enagic network marketing business has come to stay and stand as the future of human health that can change our wellbeing and financial status for good.
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Recommended books for further reading:
- The Ultimate Small Business Marketing Book
- The Marketing Book: a Marketing Plan for Your Business Made Easy via Think / Do / Measure
- The Business Book: Big Ideas Simply Explained
- Big Ideas… For Small Businesses: Simple, Practical Tools and Tactics to Help Your Small Business Grow
- Crushing It!: How Great Entrepreneurs Build Their Business and Influence-and How You Can
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