Would you join a Multi level marketing or Network Marketing company to start a business?
What is multi level marketing or network marketing and why is it so popular?
I came across this article from the Forbes website which talks about how the Multi Level Marketing industry is poised for explosive growth and can be a significant solution to any retirement saving crisis. Click here for full article. This stirred me up to highlight this subject .
To help you to understand what multi level marketing or networking marketing is, I want you to understand what it’s not.
Multi level marketing or network marketing is not a pyramid scheme, the two are vastly different! Pyramid schemes are illegal, multi level marketing is legal.
In a Pyramid scheme, recruitment is the must, where people pay to take part and are rewarded by finding others willing to pay to join (a get rich quick money game). At some point new recruits dries up and the pyramid collapses.
Network marketing is not like this. It is a legal business where legitimate companies provides people with bonafide products they need and want at a fair price, for their income, not on fees charged to new recruits. However, while some people do make a lot of money through the multi-level marketing business, their financial rewards is always the result of their own committed and dedicated efforts of team building that distributes real products and services.
How popular is multi level marketing?
Multi level marketing (Network marketing) is huge business and forever growing in popularity.This type of business is open to everyone, where ordinary people from ordinary background with no experience or qualifications can achieve their full potential. Network Marketing is now well respected and proving to be the profession of choice for the 21st Century.
According to the Direct Selling Association, the industry regulating body, in 2011 around 16m distributors generated sales of almost $30 billion in America and worldwide 92m grossed around $154 billion. Today that will be more.
The benefits of starting a multi level marketing business.
- Extra Income
- More time and freedom
- Retirement Income
- Meet new people
- Being your own boss
- To help others
- A better work/life balance
- Achieve your potential
- Career satisfaction
- Work from home
Choosing the right multi level marketing company.
Here are the best tips for choosing the right company. You need to establish the age and stability of the company, it should be financially stabled and debt free with year on year growth. It should provide excellent products and services that consumers will buy and need more of.
How the income is paid (the compensation plan), is it fair across all distributors. This is crucial because it incentivize distributors to move on to the next level of achievement. In addition, a good company will offer incentives like a car plan, international travel and profit-sharing for its distributors.
The integrity of the multi level marketing company and management. Research this as much as possible, check their history and background of the C.E.O. Make sure the company is vertically integrated, which means they are in charge of their entire structure, from plantation to production to the consumer. And must also be a part of the D.S.A..
A successful multi-level marketing company should have in place an outstanding training, support and business system. It doesn’t matter how good the products and services are, without these systems you will be wasting you time and effort.