Are you thinking about joining an MLM company and wondering what the benefits of network marketing are?
There are many reasons why network marketing can be more effective than other business models.
You should also know that the failure rate in MLM is high.
That shouldn’t scare you away from getting involved with network marketing.
But I’m not going to give you a bunch of “pie-in-the-sky” silliness about how everybody wins inside this industry.
While it’s true that anyone can succeed in an MLM business, the reality is that many don’t do well.
So, let’s explore all the benefits of MLM…
…as well as a few pitfalls to avoid so you end up in the successful group.
MLM Is Hard
Let’s get the elephant out of the room. While there are several benefits of network marketing, it’s not going to be easy to build your business.
COVID-19 Made Traditional MLM Hard To Do
Meeting people for 1on1’s at Starbucks, inviting people to opportunity night, bringing people to a home meeting or inviting large crowds to Saturday business meetings became more problematic after COVID-19 hit.
There are many varying opinions about the pandemic.
Some folks wonder if it’s really that dangerous.
Others are quite afraid of the situation.
I think the key thing is that we need to be respectful of all feelings that revolve around the issue.
And, that means some of your prospects simply might not want to meet personally…
…but, they still want to build a business with you and earn passive income from home.
You can solve this problem by becoming good at online marketing.
- Use Internet marketing to build a blog around your MLM product’s niche.
- Get leads from your blog or social media and invite them to Zoom calls.
- Use FB groups as the new community and opportunity meeting resources.
There’s always a solution. Find it and thrive.
One reason why many folks fail at MLM is insecurity. Most of us were raised with an employee mindset since birth and building your own business can bring up inner negative emotions.
It’s possible you don’t believe deeply you can work from home 100% and thrive. You may have issues believing others will follow you.
I encourage you to work on yourself. Read positive books. Listen to positive audios. Change your belief systems.
MLM Training That Lacks Quality
A second reason people might fail with network marketing is terrible training.
Most MLM companies teach their people wonderful tips about how to sell the product line. That’s great…you need that.
What’s lacking is true marketing training.
99% of network marketers I talk to have no idea how many people must see their offer in order to convert to one single sale. Most folks don’t understand how to get targeted leads.
Instead they do silly versions of the offline “3 foot rule” on the Internet and turn people off.
I encourage you to get the proper marketing training so you can win.
OK, now let’s explore more benefits of network marketing and why MLM is a quality money-making model when done correctly…
Benefits of Network Marketing: Unlimited Income
MLM marketing provides motivated individuals like you an opportunity to earn unlimited income as well as residual income.
Traditional jobs are characterized by an income ceiling. This means that regardless of how hard you work your earning potential is limited.
Additionally, the current state of competition in the labor market is high. There are people willing to do the same job at a fraction of your salary. Artificial intelligence is another threat to job security.
On the other hand, multi-level marketing offers the opportunity to get paid forever for the sales you make today.
Freedom: Time & Location
Modern jobs dictate where you have to live…as well as your working hours.
Additionally, the world is becoming more and more demanding as far as time is concerned. This is another reason why network marketing will always be preferable over other business models.
Technology has made it possible for you to do business from anywhere.
Mobile phones and Internet tools like Zoom allow you to engage in a continuous communication loop with team members, prospects and customers.
The following tools allow you to communicate more effectively with your target market when it’s most convenient for them:
- Opt-in pages
- Recorded webinars
Another reason why network marketing will always appeal to people is because you get to plan and manage your own schedule in terms of time.
Imagine a life of time freedom as opposed to your job where you’re required to be there from say, 8-5 or 9-6 and so on.
Small Upfront Investment
If you were to begin a conventional business today it would mean planning for rent, payroll, utilities and endless fees and permits.
Network marketing requires very low initial capital.
Specifically, it’s even possible to start in some companies with as little as $100.
Benefits of Network Marketing = Like-Minded People
Aren’t you tired of being around grumpy people at your job?
Even if your company has become a remote company due to COVID-19, you still need to interact with negative people.
Building an MLM business gets you into a community of like-minded people who are excited to build a freedom business with you.
The talking points around network marketing include:
- Positive mindset
- Learn new skills
- Set & achieve goals
This makes for a much more enjoyable work environment than dealing with people who aren’t happy at work.
Gain More Security
Does anyone truly believe in “job security” anymore?
Artificial intelligence has already put tens of thousands of people out of work and this trend is going to continue as AI becomes smarter.
COVID-19 had a devastating effect on jobs.
Working for someone else’s business simply isn’t something that puts you in the driver’s seat of your life.
Employers have a tendency to take advantage of the fact that people feel fear around their security. They’ll ask you to work longer hours and deny raises.
Why not build your own network marketing business and gain more control over your financial situation?
You can even get good at online marketing and branch out into affiliate marketing or building your own online products inside your MLM company’s niche.
Gain Appreciation & Recognition
How many times have you been recognized over the past year for your talents at work?
All of us like to be recognized for a job well done.
Building a network marketing business gets you inside a community of people that want you to succeed.
They also want to show appreciation for your work and make sure you’re recognized for it.
Recognition and appreciation are simply built into the culture of network marketing.
Remove Yourself From the 9-to-5 Rut
How happy are you to be forced to work even when you don’t feel like it?
Personally, my best work times are typically early in the morning or later in the evening. It’s just how my brain seems to work.
I’m not at my creative or energy peak at 1PM or 4PM. Yet, that’s when most employers want you working and hustling.
How about you?
Wouldn’t you love to set your own schedule, take time off when you want to and work when you have the most creative energy?
Giving Yourself a Raise Is One Of The Best Benefits Of Network Marketing
One of the reasons it’s difficult to get a raise at a job is simple math.
Your raise takes more money out of your employer’s pocket.
Where’s the incentive from the perspective of your boss to give you more money when they can hire someone else willing to work for less?
Your network marketing business rewards your partners with more income when your income increases. They have every incentive in the world to help you do well.
Think long term with your network marketing business and keep giving yourself raises over the years.
Create a Passive Income Stream
It’s one thing to put in time and earn an income.
It’s another experience entirely to continue getting checks for work you did in the past.
The residual income possibilities of MLM make this business model attractive.
Work hard. Build a team. Gain financial and time freedom on the back end of that work as your passive income becomes larger over time.
Imagine a future where you take a month off to travel with your family and you come home to a larger residual income than when you left.
This happens if your team is large enough and growing whether you put in active work anymore or not.
No Need To Hire Employees In Network Marketing
Why do you think employers are excited about Artificial Intelligence?
It’s because having employees is a headache. Labor costs are usually about 80% of the expenses a business must deal with.
You don’t have to deal with any of that mess with network marketing. You simply work as an independent contractor and work with other independent contractors that you recruit.
You don’t even need to hire employees as your business grows and you want others to do various tasks for you.
All you need to do is outsource that work to a virtual assistant. By the way, here are some places to find VAs:
I love the fact that we train people how to succeed and then let them loose to do their thing. Y
You don’t need to hover over your network marketing team because their success depends on their work…
…the same exact way your success depends on your work.
There’s no limit on how big you build your MLM organization.
If you can recruit one person, then you can recruit 10. If you can recruit 10 people, then you can recruit 100 or 1000.
Only you can place limits on the growth.
The great thing is that you can build your team as big as you want and then leverage that growth for greater passive income.
It’s like setting up thousands of vending machines all over the country and getting paid a little bit of money every time someone buys a candy bar.
It’s like building a blog and writing 1000 articles instead of stopping at 15.
The more you build, the more you leverage your past efforts into improved future earnings.
It’s up to you how hard you want to work at it.
Tax Benefits Of Network Marketing
I’m not an accountant, so I’m not going to give you specific tax advice.
However, you should definitely talk to your own accountant because correctly structuring your MLM business provides tax deductions you don’t benefit from as an employee.
You can write off all or a portion of things such as:
- Home office space
- Travel expenses
- Office supplies
- Cell phone costs
- Internet costs
- And many others…
Many years ago, my upline in the second MLM business I joined told me this:
“Network marketing is like a personal development program with a huge financial reward on the back end of it.”
What he meant was that you have access to some incredible personal development material inside any MLM company. If you improve as a person by using that material correctly, then you’ll become a better business person in the end…
…and that results in creating a passive income stream that pays you for years to come.
So, focus on your personal growth if you’re currently struggling with getting quality MLM results right now.
What do you need to become better at? Maybe it’s one of these:
- Communication skills
- Interpersonal relationship skills
- Public speaking
Whatever it is, identify it and make a commitment to work on it.
Your company will have many great trainings you can take advantage of. The Internet is full of ways to become better at any of the above skills.
Don’t underestimate the growth you probably need to go through in order to become more valuable to others. The more valuable you become, the more income you’ll earn.
Get Paid What You’re Worth
This one might excite you or it might scare you.
All depends on what type of person you are.
Some people love getting little cushy jobs that pay them their $50,000 per year whether they actually contribute or slack off all year.
Others hate that type of existence. Their inner being screams out for the chance to contribute in a big way and get paid big time for that contribution.
One of the best benefits of network marketing is that it pays for performance, not existence.
That’s entrepreneurship, my friend.
You won’t make a dime in network marketing if you aren’t a go-getter who thrives on opportunity.
I’m assuming you’ve read this far because you want it! You want to build a better future for your family.
That’s awesome because you can become rich in network marketing if you’re that go-getter who protects their attitude and perseveres through frustration (you’ll be tested here almost daily, so get ready).
You’ll be paid a fortune if you’re the type of person who loves the idea of trading cushy guaranteed paychecks for the elimination of any income ceiling based on performance.
Zero Educational Requirements
You’ll never be asked, “Where did you go to college?” or “What is your track record over the last 5 years?”
You can start your business in network marketing no matter your educational background.
This is a good thing and also a bad thing.
The good part is obvious: You can get started, learn new skills and build it as big as you’d like to build it.
The bad part is: You might not take it as seriously as you should because you don’t pay much to get started and there aren’t any tests to take or barriers to overcome.