With the economy spiraling downwards, more and more people are looking for alternative ways to generate income. Most are looking for financial relief, while some are looking for a vehicle to create total financial freedom. Coupled with that fact that more and more people, from Warren Buffet to Richard Branson, are endorsing network marketing, it's not too hard to see why over 175,000 people a single week are getting involved with network marketing.
If you're looking into the industry, or researching a company, you're probably wondering if it's even worth it to get started. In this short article, I will give you the good and bad of joining a network marketing company.
Network marketing can be a very fun and lucrative profession, but it can also be extremely frustrating. The network marketing industry, over the last 50 years, has created more millionaires than any other industry, but there is a staggering 97% failure rate in the industry. If you're thinking about joining a company, it's important to know what you're getting into before you get started.
First, let me tell you that I first got involved in network marketing in 1998. At the time, I was going to college full-time and working at a hospital. As excited as I was, that first year was brutal as I managed to make almost $3,000 (for the whole year!). And because I was spending money for events, tools and brochures, I actually spent more than I made. And if that wasn't bad enough, all my friends and family started avoiding me like the plague because the word got out that I was in a "recruiting thing" and I wanted to get them in the "recruiting thing" too.
During this time, the friends that I did get a hold of, were all telling me to quit and that it would never work. With that said, looking back at what occurred a few short years later, I'm glad I didn't take their advice.
Now, let's look at a simple comparison of what could have occurred and what has occurred. In 1998, a few months into building my business, I decided to take some time off from college to put more time into building my business. Long story short, I never went back.
After looking at some statistics, the average income in the US for someone who graduated high school but doesn't have a college degree is less than $26,000 a year. While I obviously can't make any income claims or guarantees, after taking some time to learn how to actually build a business, what could have been my annual income turned into my monthly income. More important than the money, is the time I have with my family and the cool places we get to travel to.
So does that automatically mean you should join a company? The truth is you should join a company if you plan on getting trained properly and treating your business like you spent millions for it. Now, I'm not talking about joining for the sake of getting a discount on the product or to get on a company's autoship because you're a consumer. That's all fine and good, but I'm talking about if you want to build a business that will give you financial freedom. And, yes, there may be a period where you are learning and not making as much as you would like. Just understand that statistics show that for anyone who is proactively building their network marketing business, and sticks with one company for at least ten years, the chances of earning an annual income of six-figures are significantly higher than any other profession in the country.
So the question you need to ask yourself is, are you looking to make a quick buck or are you serious about your long-term success? If you're serious and you're ready to build a professional business, then get going and don't look back.
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