What Network Marketing Means And The Ways It Differs From Ordinary Marketing
The first difference is that you do not need to rent or buy premises to run the business from. You can do it from your own home. You can also decide yourself how many hours per day you wish to work at building the business. You therefore save a lot of money in the process and gain something which money can not buy: freedom.
Unlike with a conventional business, a network marketing or MLM business also means that you don't have any paid staff members. No regular monthly paychecks to write. And no bonuses, medical insurance or pension fund contributions to pay.
Another difference lies in the fact that with Network Marketing you can build up a business that can one day deliver you with a regular income without you having to work at it any longer. This is called residual income and it's a quite unique attribute of this type of business. With a conventional business you will normally find that the moment you are no longer present yourself, things start to go downhill.
A further notable difference between an MLM business and a conventional one lies in the fact that you don't have to carry inventory. There is thus no huge investment in stock, no storage space rentals and no delivery vehicles to buy and maintain. The head office of the MLM company will usually take care of all deliveries on your behalf.
By now it probably sounds as if building a network marketing business must be the easiest thing on earth. This is not the case. You might be able to start with very little money, but what you lack in financial resources you will have to make up with dedication and perseverance. Recruiting your own downline is hard work. To train and motivate them to successfully build their own downlines is even harder.
Making use of the Internet to build a downline is something that wasn't possible a few short years ago. Nowadays there are numerous MLM businesses that trade solely on the Web. You never have to meet the members of your downline personally. You can stay in contact with them using email, forums, chat software or social networking websites.
To an extent this has made things a lot easier for Network marketers. Looking at it from another angle though, it has made things harder as well. Suddenly you are not just competing with the few guys in your neighborhood who are network marketers, you are competing with other marketers from all over the world. The more unique the product that you market therefore, the easier it will make things for you.
The right attitude and a willingness to work hard are essential attributes of a successful network marketer. If you're prepared to work hard at your network marketing business for a few years, you will no doubt reap the benefits. If you expect quick riches, you will be disappointed.