Network marketing is a popular way to make money,but is it right for you? Here’s what you need to know about the downside to network marketing before you decide if it’s the right opportunity for you.
1. You may be investing more than money.
When you join a network marketing company,you will need to invest your time and energy. Many people fail to recognize that their time is equal to money in the sense that it’s valuable to them. Think about all of the things you could do with that extra hour or two. For some,giving up a few hours a week is no problem,but for others,this can become a real issue.
Think about how much time you’re going to have to give up when joining a network marketing company:
How often are you available?
- Once or twice per week?
- Once or twice per month?
- A few times per year?
- will you be doing it during those hours?
- Selling?
- Training new distributors?
- Attending meetings?
- How long will you be involved with this company before you start seeing some return on your investment of time and money?
The Major Pitfall of the Network Marketing and MLM Industry
2. You may be selling more than products.
When you join a network marketing company,remember that there are two things you’re selling: the product and the business opportunity. The reason the company exists is to empower people to sell their products or services,not just to sell them directly via retail sales or online storefronts. It’s common practice for most companies to encourage their distributors to host social gatherings at which everyone can get together and learn about each others’ businesses while also learning about how the products can benefit them. If you were to come across negative information about the company,would you be able to convey the benefits of using the products positively?
3. You may spend more than you earn.
Think about what you’re earning when you join a network marketing company. Most companies will encourage their distributors to get on an automatic monthly order system so that they can avoid thinking each time they make a purchase and put money towards their business instead. But how easy is it for your customers (the recruits who purchased from you) to also set up this system? For some people,having an extra $100 per month coming in might not be all that difficult,but for others,it could mean cutting back on other expenses like groceries or utilities to continue reaping the benefits of their business.
4. You may not be fully committed to your new job.
Many people start with high hopes when they join a network marketing company,but don’t realize how much time and energy goes into running a successful business. This can lead to resentment towards the business instead of gratitude for the opportunity it represents if you don’t maintain your initial level of enthusiasm throughout your career within the company. If you’re only giving the business half-hearted effort,then you’re less likely to reap any benefit from it at all.
5. You need to be comfortable selling yourself and your ideas.
Network marketing is challenging enough without someone constantly doubting that what you’re telling them about your products or services is true. It’s tough to build a strong downline when people don’t believe in what you’re selling. To be successful,you need to be comfortable talking about the product and the business benefit it provides as well as being confident that your potential customers understand that what you’re saying is accurate.
Network marketing is a legitimate way to make money and there are many benefits. But,you need to do your research and be cautious before jumping in headfirst because the downside can outweigh the upside. The success of network marketing depends on how much time,effort,and energy you’re willing to put into it. If this sounds like something that would work for your lifestyle then great! Now get out there and start networking with people who share your interests so that you can sell more products while also making friends along the way!