Even well known authors and business people such as Robert Kiyosaki (Rich Dad Poor Dad), Donald Trump (Trump University) and Tony Robbins (Robbins Institute) have all stated that Home Based Businesses and particularly network marketing, direct sales and MLMs will be the biggest growth industry of the next decade.
The highly respected Forbes Magazine forecast that an incredible 79,000,000 new home based businesses would start over the next three years. That’s over 500,000 a week – and just in the U.S.
Now that’s certainly not to say that the MLM business model suits everybody. There is always a rather large drop out or failure rate, but then that holds true for pretty much any business, online, offline, MLM or whatever. Most Businesses do tend to fail in their first 4 years, but out of the tens of millions that are started each year, there are plenty that do succeed.
Entrepreneur Magazine estimates that the US home-based business industry may be worth over $420 billion a year; that’s more than pharmacy; food; and consumer goods combined; with an average home office household earning of 65,000 US dollars a year.
With increasing financial uncertainty; job lay-offs and a shift in thinking to create a better lifestyle, home based businesses as either an additional part-time income or replacement of primary income can only grow massively over the coming years.
So exactly what does it take to succeed with a network marketing business. Most experts tend to agree on the following attributes:
- Multi-Level Marketing is simple but not easy. You have to commit 100% to your success going into it. If you are just going to see how much money you can make in a month and if it doesn’t happen you will quit, my friend, don’t even bother signing up. You have to focus on the long term. You more than likely will make money in your first month but you can’t go into it with a losing attitude
- Get your startup kit and get ready to make money immediately. This may sound crazy to some people but, most of the time, new representatives will not even pay for the startup kit to become successful. That is like opening a sunglass hut and telling someone ” I will get sunglasses in stock as soon as the money starts coming in. The money will never come in because you don’t have a product to get customers interested in
- Listen Up. Make sure you are following your up-line mentors example. If they tell you to make a list, make a list. If they tell you to paint your house, paint your house. You get the picture. As long as they are not telling you to rob someone then you should follow what they are saying.
- Go to all training events. I can’t tell you how important this is. I went to my companies International training event and it really changed the way I saw my business for the better. Stay plugged into trainin
- Never give up. I know how it feels to be rejected and to be stood up by some of your closest friends. Let me just say that it is all worth it in the end. Trust me, if you put up with it you will receive your prize. All I know is the only way to fail MLM is to quit. Most network marketers who stay in business for 10 years make it to the top of their companies compensation plan. You might think 10 years is a long time but at your job you won’t even be in the top 25% of wage earners in 10 years.
- Personal Development. Read books on success and personal development. Keep moving yourself forward. The amount of money you make in Network Marketing is in direct proportion to the amount of books you read. Every mansion has a library and you can be certain that the library bought the mansion.
So if that sounds like you, then perhaps you have what it takes to build a successful network marketing business.
So the only question you have to ask yourself now, is which company will you join…
Here is a list of some of the more popular network marketing companies running today:
- AVON (Makeup & Cosmetics) – Visit Website
- Pyxism (Holidays & Vacation Deals) – Visit Website
- Mary Kay (Cosmetics) – Visit Website
- Melaleuca (Wellness Products) – Visit Website
- Herbalife (Weight loss Products) – Visit Website
- Lifepath Unlimited (Personal Development Courses) – Visit Website
If you think network marketing might be for you, don’t forget the points above and make sure you find a company with a good support network that can help you get started.