Thinking about getting into network marketing but not sure if it’s for you? Network marketing or MLM as it’s also called sometimes gets a bad rep, with the word ‘scam’ being thrown around far too often.
It’s by far one of the most misunderstood industries, however in this article, we’ll debunk the myths and misconceptions you might have about network marketing, so you can decide whether this is the best path for you.
Misconception One: You’ll be making 6 or 7 figures overnight
Often people get into network marketing with false illusions that it’s an easy way of getting rich overnight. They buy into the idea that they’ll be generating 6 figures in 30 days, working only a couple of hours a week.
If you go into it with this mindset, chances are you’ll be left incredibly disappointed.
While network marketing, if executed effectively, CAN help you fasttrack your way to greater wealth and unlock your earning potential, you need to be in it for the long haul and be willing to put in the hard yards… especially in the early days.
Misconception Two: Network marketing is a scam
In my experience, I’ve noticed that this misconception is generally perpetuated by disgruntled network marketers who have failed in their particular venture.
This might be because they didn’t do their due diligence when choosing an opportunity, or because they simply weren’t willing to put in the work to get the results they wanted.
At the end of the day, networking marketing is no different to starting a business, or even a gym membership… it only works if you do.
Is everyone successful in business? NO. Many businesses fail. This does not mean that an entire industry is a ‘scam.’
Misconception Three: You can’t get rich through network marketing
Network marketing is an opportunity for people to earn a full time income, while working part-time from home. The amount of revenue you generate will largely be determined by your willingness to learn the skills you need to be effective as a network marketing and take massive action to generate the results you want.
Speaking from my own experience, I have been able to amass a large amount of wealth through network marketing over the last 15 years…
I started the industry part time while I was building 5 gyms. I started because I was looking for products that my gym clients would have an interest in. They were products in weight loss, health and nutrition. After 3 years I was more profitable from the commission from the network marketing business than owning 5 gyms. The next phase was to amplify this to another level in which I was able to then pioneer another company, exit my gyms and now I have business in over 100 countries and have created a lifestyle by design.
Misconception Four: Your income will be completely passive
Another misconception about network marketing is that your income is completely residual. While it does open up opportunities to generate a residual income, and live your life by your own design, this doesn’t mean you don’t have to put in the work to get to that stage.
When starting out with any opportunity you have to be willing to make sacrifices and put in the hours that will set yourself up for success.
Misconception Five: The market is too saturated
Too saturated? We’re talking about a $180 billion industry, that’s been going for 100 years, with over 10,000 different business opportunities for you to leverage…. The industry is still far from being saturated.
The key to being successful and standing out from the crowd is finding a niche opportunity and bringing this to a new demographic.
There are literally opportunities everyone. My vision and mission is to help open minded, hard working entrepreneurs create a lifestyle by their design. In my initial road mapping consult we discuss the huge potential. Some of the opportunities include launching new products into existing high growth niches, launching new products in existing markets and opening new markets.
If you’re still on the fence about network marketing, or keen to learn more about an opportunity that could help you build considerable wealth, I’d love for you to book in for a free no-strings-attached consultation with me.