Why I Chose Network Marketing
Why should you be in the network marketing industry? If 100% of your income comes from 100% percent of your own efforts your are definitely limited to how much you can earn. You only have 24 hours in a day. So you must understand the concept of leverage. Billionaire J. Paul Getty once said I’d rather earn one percent off the efforts of 100 men, rather than 100% of my own.
Lets say you understand the true power of the network marketing business model. You have also determined that its the vehicle to get what you want in life via the leverage off of the efforts of others, and by harnessing the power of passive residual income… something your job can’t do for you. No one can deny that millions of people are catching on and getting into the industry in such pursuit.
People fail in network marketing because they get involved with the wrong company or don’t get the proper mentoring.
The question I have for you is what network marketing company do you get into? Getting involved with the wrong opportunity often leads to wasting time when you could be focusing your efforts elsewhere, loss of credibility, and bad relationships. I understand that people in this industry have good and bad experiences, the bad far outweighing the good, due to a lot of un-experienced people getting into the first program that their familiy member or co-worker introduces them to. Or maybe they were being led by some one not even making money in the business themselves.
In doing your due diligence here is a good place to start. Take a sheet of paper, and at the top of the page write the headings of each different industry within the industry. So put up there juices,vitamins,travel,web malls,water filters, insurances,legal services, etc. From there list the companies in the industry that fall into one of these categories. If you find that there are many companies that fit into one of these categories that is a good sign that there will be major competition. The fact that there are multiple companies within a category signifies that its rather easy to start up new ones, meaning if you are in that space and you really start growing your business, there is a chance that people who enter into that category will steal away your distributors. The question I have for you is can companies easily come along and say they offer the same product as well? Is it a “Me Too” product? You must find a “Non Me-Too product, with a huge barrier of entry into the space.
Another thing to consider is whether the product or service is something you would want to buy without an opportunity attached to it. What you will find is that people in network marketing more often than not were attracted to the company because there was an opportunity to make money rather than having a true appeal for the product or service. The day the business stops working for them is when they decide that maybe the product isn’t for them, maybe they pretended to like the product all along.
Another thing to keep in mind would be the strength and life expectancy of the company. It’s a fact that 60% of the network marketing companies fail inside of the first 5 years, it would make sense to find a blue chip company rather than taking a gamble and going with a company that is supposedly in on the “ground floor”. Most startups wont get things together in their first two years. So lets say they do make it to two years, the odds are still slim that they make it to the five year mark. If they do, I think they’re considered a success so far but then you have your competition. Once they find out there is a viable market then the wars begin. All of sudden you start losing your downline to the new companies that pop up. So here is the point that I was originally making, find a company that has been in business for at least 10 years and is still showing upward growth. Make sure its not just a company that’s been around for 10 years because it could be showing a downward trend in growth, there still has to be market potential in front of it.
I’ve been in the industry for a few years now and have seen companies come and go for some of the reasons I just explained above and there is one company that appears to have the best future opportunity and that is…