You likely have someone you know who’s in the network marketing business industry. These businesses are rather easy to gain entry in. And, provide ample opportunity for those who want control over their lifestyle.
Whether you agree or disagree with the model, you can’t deny its effectiveness.
Like any other business, you get what you put in. Those able to commit have a higher success rate than those approaching it in a passive manner. Of course, like any business, there are risks and rewards no matter the commitment.
Should you get into network marketing? Is it a good fit for someone like you? Those questions and more get answered in this post.
What is Network Marketing Business?
One can see network marketing as salesperson’s role. Except, you’re your own boss, providing a higher upside if you create an amazing sales funnel. You do often adhere to brand guidelines, but otherwise, you have control over the business.
Why do people get into network marketing? It’s attraction includes:
- Having more free time because you’re the boss
- Creating supplemental or full income streams
- Getting product discounts from brands they love
- Meeting people and generally getting out of the house
In a network marketing business, newcomers typically invest in a business package. These packages could include products they’ll sell to others. Except, you’ll source these products from someone already in the business model.
There are two terms you should know:
- Upline
- Downline
The upline is typically your sponsor within the network marketing industry. These individuals provide coaching and support. And, are your contacts when sourcing products and materials for your own operations.
The downline is those you may recruit as the business grows. You can see them as salespeople within your team. And, like a business structure, money flows through the levels of its hierarchy.
You can choose to run an NM business without building a team. Though, you lose out on the residual income generated by their efforts.
In all:
A network marketing business is like a traditional business from yesteryear. You’ll often conduct business face-to-face, like a door-to-door salesperson. You’ll have control over its operations while given the opportunity to build a team.
So…
Is Network Marketing Right For You?
Network marketing is all about people.
Every interaction you have is providing two things:
- A helpful product or service
- An opportunity to build an income
Often, people fall into the network marketing model because they’re seeking a solution. They need a product and get a recommendation from a friend. Or, see a fancy ad touting its benefits and decide to give it a whirl.
Soon after, they’re in love with the product. They begin telling everyone they can because they back the product. Add in a compensation model for this effort and you have a network marketing business.
An Introspective Look
Qualities of a network marketing tend to be that they are:
- Hustlers
- Self-driven
- People-persons
A business carries its own set of risks. Having the hustle mentality has you working your tail off, trying to get it to work. Without hustle, you won’t create the sales and team needed to push beyond being a customer.
Likewise:
A good network marketer has the drive to wake up every morning and get into sales. They’re the type that looks for opportunities whenever they arise. And, jump into them when they show promise.
A good marketer is great around people, too. This business requires a lot of communication. So, if you’re not a people person than this opportunity isn’t likely your thing.
The short:
If you love being around people and vocal about products then yes, network marketing may be up your alley.
Important Questions Worth Asking
There is no shortage of network marketing scams. You’ll usually notice these because those participating seem too good to be true. They post to social, saying they’re making crazy money when really they’re struggling.
Worse:
These types tend to recruit like crazy to the point of annoyance. They’re the long-lost school mates that send recruitment messages. You sit bewildered since you haven’t talked in a decade or more!
What questions do you need to ask when qualifying an opportunity?
- Longevity — Has the company been around for 5, 10, 20+ years?
- Products — Are the products worthwhile, unique, and helpful?
- Finances — Does the company report their financials?
- Ethical — Is what you’re selling and doing ethical and moral?
You’ll also want to see if the product is worth selling all-together. A good way to qualify it is looking around, seeing the market. If you notice it’s been around for some time then you know there’s a market.
On the other hand:
If the product seems trendy and just starting then who’s to say it’s viable? A fly-by-night operation may be trying to swindle people. So, look behind the veil and see, for yourself, if it’s a trustworthy product and company.
The Common Types of Business Opportunities
Let’s assume you agree that network marketing is something you want to do.
What’s next? You ask.
You’ll find network marketing companies of all types. After all, the structure is applicable to just about any product or service. Yet, you will see parallels when browsing and hearing about the opportunities.
Let’s dig into the common types:
Health/Wellness
Health and wellness are the usual go-to products and services in this industry. Why? Because the market is one of the largest. And, almost everyone you talk with wants to improve their health in one way or another.
Common promotions include:
- Supplements
- Vitamins
- Essential Oils
- Dieting plans
- Alternative medicines
Many network marketers use these products every day. This lets them easily talk and share the product with ease. If they don’t, they’re savvy enough to identify those clients and customers who likely do.
Personal Care
Personal care follows closely with health and wellness. Except, these products typically include beauty products. This, too, is a massive industry.
Examples would include:
- Creams
- Perfumes
- Skincare
- Makeup
- Food
The allure in personal care is in it’s “feel good” products. You’ll promote products for lifestyle versus trying to overcome a need. If you enjoy treating yourself than you’ll likely enjoy this category.
Business Opportunities
This one is a bit “meta” because the product is the opportunity. Or, specifically, you’re teaching others how to make money. In a way, it’s like coaching but you’ll sell products vs providing the coaching services.
Examples include:
- Internet Marketing
- Make Money Online
- Side Businesses
- Hustles and Gigs
You can also team with e-commerce companies to promote their products. You’ll receive a commission for its promotion and/or sale. These products could be physical or digital.
You could also team with service-based companies. These could include anything from site building tools to helpful apps. You see this a lot when people mention training programs or marketing solutions.
Underneath it is someone’s desire to start a business. These tools are part of getting there. You, as a marketer, make money in their promotion.
How to “Get Into the Biz”
There are far too many network marketing companies to list. Instead, here is a couple to get the ball rolling:
- Scentsy
- Herbalife
- Primerica
- Monat
- Younique
- Jeunesse
- Stream (Contact us or for details or use code A2784764 to sign up)
…and the list goes on if you do a quick, “best network marketing companies”.
Tips for Getting into Network Marketing
The goal of getting started should include these:
- Don’t break the bank
- Don’t become an annoyance
- Don’t go in blind
Many opportunities require an up-front cost for inventory. You should never spend more than you can afford to lose when starting a business. It means don’t dip into rent and other bill money because you’re afraid of missing out.
- Save up money
- Time the entry
Next is finding your first customers — which may include:
- Friends
- Family
- Coworkers
Start with your small circle of friends and get quality feedback. Show, don’t tell, the product by enjoying it because you find it valuable. When friends ask, let them try the product and make their decision vs becoming pushy.
Repeat this process with family members. And, coworkers if your job allows you to promote products to another.
Finally:
Always research the company you’re considering. This includes those items we discussed and who are currently making money. Ask them questions, read reviews, and learn as much as you can before diving in.
If It’s “Not For You”
It happens… you give it a shot but it doesn’t pan out. That’s business, and it’s better to get out early than dig a deeper hole. There are more opportunities when you’re ready to give it another go.
Recoup some costs by selling products at a discount if you need. And, learn from your mistakes by keeping a journal.
Opportunities are Abound in Network Marketing
A network marketing business isn’t for everyone. It takes hustle, and you need to be a people person. It also needs you to do a lot of research.
All-in-all:
Network marketing is a great entry point for new entrepreneurs. The model teaches those hard and soft skills that apply to all business types. So, if you don’t enjoy it — you can take those into other opportunities.
One final thing: Are you a driven person with the entrepreneurial spirit?
If so, have a look at the business launch guide. This covers everything you need to know about starting a business with little or no money. It will go perfect with your aspirations to get into the network marketing industry.
As always, we hope you found this article ”How to Know if a Network Marketing Business is Right for You” both informative and entertaining. If you did, may we ask that you share it with your friends and family through social media. It really helps us a lot and is greatly appreciated!
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