4 Reasons to Start Your Network Marketing Business
What Is Network Marketing
Network marketing is a very straight forward and lucrative business if approached with the correct mindset and the willingness to treat and respect it as an actual business and not as a hobby.
Contrary to what people believe about network marketing, the average person conducts a network marketing conversation just about every day, however they don’t get paid for it – Let me explain with a few examples: How many times have you eaten at a great restaurant and felt compelled to share your experience about the restaurant? Did you get paid for referring the people you told? Or how many times have you recommended a store, a cruise to somewhere, an airline, a resort or a product? – But did you get paid for your referrals? Network marketing is basically something we all do in our everyday lives – its word of mouth or referral marketing. It’s something you already do! The difference is the network marketer gets paid and the average guy does not. Below are 4 reasons to start your network marketing business.
Why Network Marketing
1. Low Start Up Cost & Ease Of Entry
As a former retail store owner who spent over $150,000 in start-up cost and who’s dealt with the banks, landlords, employees, vendors and alike, I can tell you that it’s a bargain to get started in network marketing. You can get going in networking marketing for less than $600.00.
As for ease of entry, generally you will have to purchase a start-up kit of some kind and agree to become an independent representative. Some basic info is required, such as name, address, telephone number and tax id information and thus begins the building blocks of your business. Regarding your business structure and formation, it is entirely up to you how you want to structure your business.
2. Residual Income
This is huge! Once you understand what residual income is and how to leverage it, it truly becomes a game changer.
Residual Income is income that a person earns on a continuous basis for work that was done once. Unlike linear income where time is traded for money, like in a 9-5 job, residual income is a revolving source of income for a one time effort and there is really no limit to what you can make. Once you begin to earn residual income it becomes difficult for one to stick to a linear income situation. There are many Network Marketing Opportunities which offer this component to their compensation plan.
3. Independence & Freedom
The network marketing industry creates more millionaires than any other industry! It’s a great feeling when you can live a lifestyle where you can do what you want to do, and buy what you want to buy without financial worry and call your own shots. It’s the ability to have a millionaire lifestyle – no financial hassles, worries or burdens. Spend your time as you so desire and live and enjoy life the way it was meant to be.
4. Tax Advantages
As a home business owner in network marketing you have many tax advantages. Some of these advantages include deductions for: use of your vehicle for business, business travel, business use of your home, meals & entertainment related to business, business communication, advertising expenses to promote your business just to name a few. Always consult a reputable tax professional regarding your business tax related concerns and to ensure you are entitled all legitimate tax deductions.
Network Marketing Is…
There is no better time than now to take action – your future awaits you! The network marketing industry is alive and well and waiting for you to take your claim!
I really hope this post has or will move you to take some action or at lease will challenge you in some way. I’d really love to hear from you! So take a moment to leave a comment below and share on the socials.
Key: Find a product or industry you are passionate about.
Tip: When choosing a product, consider what the “value” quotient will mean to your potential prospect or customer – The Value Quotient is about the worth, importance and usefulness of a product in the eyes of the prospect in network marketing.
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