|Having spent 34 years in the business world, I was look for something that would allow me more flexibility and freedom to take care of my aging mother and spent more time with my family instead of hours on the road each day.
I wanted to retire but remain active and work in some capacity. I was tired of the rat race of a 60 plus hour work week with no opportunities to make additional income other than my annual raise. When the opportunity was presented to me 3 years ago I did my due diligence. I discovered that indeed MLM was what I was looking for, as it was going provide me the financial freedom and lifestyle I was seeking.
What are the benefits of MLM?
A major disadvantage of traditional self-employed business model, and the traditional 9-to-5 job, is the lack of freedom — time freedom. In a 9-to-5 job you sell your time for a given income. Your employer determines when you shall work and what you get paid.
The traditional business model is no different. While you may enjoy the benefits of being your own boss, you are likely to end up working much longer than you would had you been an employee. You become a slave to your customers.
Network marketing on the other hand eliminates these barriers.
With MLM you can leverage your time by developing other’s success. You teach your team how to do what you do and get paid for your efforts. Network marketing companies pay their distributors for work done by other distributors. So by systematically increasing the number of active distributors in your downline, you can simultaneously increase your income. And.you can do this without increasing the number of hours you spent at work. You can actually reduce your working hours and still see your income increase.
1. Passive Residual Income
Network marketing affords the opportunity to build an ever increasing passive residual income. Have you thought about a plan a retirement plans, saving for something special? this residual income will come in handy and it keeps growing
2. Low Start Up Costs
You can start a network marketing business with little or no money. You will of course need your supplies much like any other franchise i.e. a Tim Horton’s. In other businesses you need money for things like stock purchases, advertising, telecommunication, etc. Without these you are not in business. In fact, a big chunk of your money is spent on marketing. With MLM you do the work, you do the marketing, you do the training, there is no extra cost and the earning potential is still higher
3. International Business
A network marketing business can be operated globally. This is made possible by the internet.
One of the not-so-obvious advantages of network marketing is tax efficiency.
When you join a network marketing company you start a business – your own business. Businesses have various tax advantages over ordinary employees.
Possibly the greatest advantage of all is that as a business you are allowed to deduct your expenses from your income before calculating how much tax you should pay.
To paraphrase Robert Kyosaki…
Businesses earn, spend and pay taxes.
Employees earn, pay taxes and spend.
I like John Clench’s way of putting it. In his book, Being The Best You Can Be in MLM, he says…
“No other support system of which I am aware…so completely honors the freedom and responsibility of the individual.
From your very first day in Network Marketing you are free.
You choose with whom you want to work…
You choose when you want to work…
You choose where you work…
You choose your style of working: person-to-person, through the mail, over the phone, in small groups or huge gatherings of people. Every single aspect of your business is up to you. It’s your choice because it’s your business.”
You are your own boss this a good thing but it’s also a bad thing it up to you”
Yes, with network marketing you have this freedom
There is a saying in network marketing circles which says “you are in business for yourself, but not by yourself.”
As soon as join you become part of a team – you’re up line. Serious up line members become committed to your success because without it they will not succeed. As you start building your own business, you start a team of your own – your downline. This team will benefit from your personal support and those of your up line.
6. Personal development
Perhaps also at the top of the list of advantages of network marketing is personal development. Network marketers are prolific readers of personal development material. In network marketing you can learn such skills as public speaking, mentoring, coaching, how to relate with others etc. I’ve noticed that serious network marketers also grow spiritually.