No. Network marketing is not for everyone, and you can see this by looking at the industry. The views on network marketing are far polarizing. On one end, some love it and are millionaires, thanks to network marketing, and on the other end, people hate it.
Like almost every other thing out there, not everyone will succeed with network marketing. Saying network marketing will be like saying being a doctor is for everyone.
Networking marketing is a business that millions of people can readily say they do. In fact, most will flaunt the earnings they have made from doing the business. They freely invite friends, family, colleagues, and even strangers to their lavish business meetings. From the outlook of things, they are both successful and happy.
Yet, most people do not trust the industry and would rather be unemployed than partake in any of it. So, that may lead many to ask if network marketing is really for everyone? Why are others making it big while others never make their initial investment back even after years of doing the business?
Network marketing is a profession. And while the appeal is that you can do it as a part-time business in addition to a full-time job, it is not something you can take lightly and succeed.
However, if you believe network marketing is for you, then you will be willing to see to it that it works for you; something most people never do. But why isn’t network marketing for everyone? Could it be for everyone?
This question is the subject of this article. We will also look at the network marketing industry, how to succeed as a new distributor and which companies you can start with.
Why Can’t Anyone Do Network Marketing?
Network marketing is a profession and a full-time job for many. However, it is also a part-time job for many who quit their jobs to pursue network marketing. If people succeed in the industry, why is it that most people do not thrive? Why is networking not for everyone? And it is simple.
Like any job out there, network marketing works best for some people and not so well for others. You pursue what makes you happy in a profession. Being a nurse means you love caring for the sick. Being a teacher means you love helping young ones acquire knowledge and become good citizens.
We don’t ask the teacher why their job is not for everyone because we know not everyone enjoys struggling with kids in a classroom all day for years.
Network Marketing is a Profession
While networking is a simple profession that would not work for everyone, there is a critical reason why most people fail and why it is not for them. And that would be the fact that network marketing is not considered a profession, and many kids never hear of it.
Most people hear of network marketing only when they are of their working-age, and a friend says, “Hey, would you want to make some extra cash with your free time?” Then they enter a whole new world.
It gets confusing quickly, and you feel you are dreaming. It is a whole new world you were never taught about in school, and neither did your parents ever mention it.
No One Teaches Network Marketing in School
Another key reason is that network marketing is not only a profession that most people do not understand. It is also a business. Only a handful of people in the world are business owners or entrepreneurs. The majority have been taught to get jobs, which is what most of us do.
So when you are introduced to networking, you have to switch from employee mindset to entrepreneur mindset, something most people cannot find a way to get done. Therefore networking is not for everyone.
How To Determine Whether You Can Do Network Marketing
Network marketing is not for everyone. But is network marketing for you? You can take a formula or test to determine if you are cut out for network marketing.
There isn’t anyone cut out for it either. But if you have certain traits and strengths, you can be positive that network marketing will come easy to you.
Here are a few pointers to help you decide if this is something you could do really well.
1. Open to Meeting People
Most people get introduced to network marketing through a connection. A friend, a family member, or a work colleague may have been the one to talk to you about a “Business Opportunity”. Prior to such a conversation, you may never have heard of the company, and neither may you have heard of their products and services. Why?
This is because network marketing companies work with independent distributors to move their products and services. This is mainly done through a network. A friend gets involved and they get you involved. You get your friends involved. And that’s how the cycle goes. Most people take the “Network” out of it.
If you are good with meeting people, very friendly, and love to have conversations, network marketing may come easy to you. This is because making friends and building your network will be a key part of your daily activities.
Holding conversations, getting contacts, and following up is the perfect skill set for getting started with networking. If this is you, you may probably be good at this.
2. Comfortable With Selling
Most people think of network marketing, and all they can think about is making money. But how do you make money? It is through commissions. By selling the product and services, you get paid commissions.
If the company spends 50% of its revenue on marketing and advertising, then it would channel that 50% to paying associates. This is because networking businesses move their products purely through people like you. They don’t have a marketing budget, and neither do they advertise.
You are their marketing plan, and you are their sales reps. So networking may just be for you if selling is one of your strengths.
3. Have a Business Mindset
Network marketing is a business. You start as a sole proprietor of your business and up into having thousand in your organization. The good thing about network marketing is that you do not journey alone like in a traditional business.
You join an already existing team that builds and nurtures you to become a business leader. Network marketing is one of the best ways to learn how to run a business and get into the self-development world.
4. Highly Effective
Network marketing is unlike most jobs in that you can simply do what is enough and close for the day. Part of the success in networking is being able to get results. And most companies have a system that restarts every month, much like sales targets for the month in a traditional market. You can get paid what your current level takes by maintaining your level every month.
The only thing that matters in a network marketing business is your ability to get results by following the terms and conditions of how the company is to be marketed. If you are a tough person who knows nothing but how to get results, network marketing may be for you.
5. A Good Team Player
Network marketing operates with teams. You will end up in lots of teams as your business grows. You may end up mentoring entire teams. Your leadership, communication, and team skills will come into force if you get into marketing.
By building talent as well as spotting talent and inviting them into your fold, your organization can grow fast and make you a millionaire in a few months or a year. It is possible, but without the rest of the skills mentioned here, it will take quite a long to achieve success.
6. Committed to Continuous Learning
One of the things about network marketing is that no one knows it all. You will definitely have mentors to teach and train you. But most of them will encourage you to take your personal development seriously. This is because your business only grows as much as you have grown as a person.
An absolute new person with the right personal development and skills can grow faster than someone now getting to know about team building, sales, and other skills.
How Network Marketing Works
Network marketing aka multilevel marketing (MLM), as the name implies, is a marketing strategy. But it doesn’t end there. It is also a business strategy. The network marketing business model works in a way that allows independent distributors called associates to enjoy the company’s profits by helping the company to first market the company and, more importantly, sell its products and services.
Network marketing companies have thousands and even millions of independent distributors who constantly tell people about the company, its products, or services. If the person is interested in pursuing the opportunity as a business, they get signed up on a starter pack that is always a pack of the company’s products or services.
One of the core principles of network marketing is benign products. This simply means you have to be someone who uses the products and services. That is one of the best ways to build belief about the product you advocate for.
Network marketers are people who join such companies with this business model as independent associates. They are in business with the company, not for the company. This is because they directly share in the profits of the company.
This is often based on a system designed by the company linked to product sales as well as the number of associates you introduce the business to. This is perhaps the main difference between a network marketing business and a pyramid scheme.
Difference Between Network Marketing and a Pyramid Scheme
A pyramid scheme focuses only on bringing in new associates and uses the cash deposits from the new associates to pay old associates. This means if new associates stop flowing in, the pyramid fails and collapses.
Another key difference is that pyramid schemes do not have products, and neither do they have services. Consequently, there is no new value-added—just a company reshuffling money from new to old registered members.
Pyramid schemes are illegal, while network marketing is a legal business model and results from the success of many companies.
Is Network Marketing A Pyramid Scheme?
No. Network marketing is not a pyramid scheme. Pyramid schemes have been banned and made illegal in the countries of the world, while network marketing is a thriving business model responsible for the success of many companies and individuals.
Can Network Marketing Make You Rich
Yes, absolutely. And there is proof everywhere. While the rumour that “network marketing has made the most millionaires in history” is not a certainty, there are certainly hundreds of millionaires who made their fortunes from networking.
Legit Network Marketing Companies
1. Amway
Amway is one of the most popular network marketing-powered businesses out there. Their success is attributed to the tenacity of their distributors. They are in the health, beauty, and home niche with lots of products for people to choose from.
Amway has been in existence since 1959 and is one of the oldest network marketing companies. They report revenues in the billions, most of which are paid out to distributors as commissions.
2. Herbalife
Herbalife is a global brand that makes dietary supplements and operates in the health, wellness, and fitness industries. The company was founded by Mark Hughes in 1980.
3. Avon Products
You may have heard of Avon, also known as Avon products. The company has been in existence since 1886 and has thrived since. The company deals in skincare products, cosmetics, fragrances as well as personal care products.
Network Marketing Alternatives
Network marketing is a great way to make a living. If you already have a full-time job, it could make for a good extra income source. But perhaps after reading this, you feel network marketing is not for you. That is totally fine.
There are lots of other options to consider, especially if you want to make money online. Here are a few online business ideas you can build.
1. Affiliate Marketing
Affiliate marketing is one of the best ways to make money online. It allows you to monetize any audience you have online. For example, are you a YouTuber, a blogger, a social media influencer, or do you simply have a large network of associates?
You can make recurring and instant income from referring them to your favorite products and services online. Affiliate marketing is a fast-growing business model making several people millions of dollars every year. The interesting thing is that anyone can succeed with the right resources.
2. Drop-Shipping
Dropshipping is a simple business model that enables anyone to build an eCommerce business without worrying about manufacturing, shipping, handling, and packaging.
As a drop shipper, all you need to worry about is generating sales which is much similar to affiliate marketing without all the team-building and social interactions added.
3. Amazon – FBA
Amazon is where the majority of people shop. With Amazon, you can get lots of sales. If dropshipping sounds like an excellent idea, then FBA is another great idea for you if you are interested in eCommerce.
Fulfillment by Amazon (FBA) is a system set up by Amazon to take care of handling, logistics as well as shipping for shops on their platform. They also take care of inventory tracking as well as sales.
All you have to do is get your products to an Amazon warehouse, and they will take care of them. Just like dropshipping, you can ship a product from a manufacturer in China straight to Amazon, do your marketing and make good money.
4. Freelancing
Freelancing is a great way to monetize your skills. Platforms like Upwork and Fiverr have made it easy to access millions of potential buyers each day. In addition, a freelance business can quickly transition into an agency or a big business.
5. Being A Creator
Being a creator allows you to take advantage of many monetization strategies like affiliate marketing, paid ads, and promotions. You can also sell your own physical products, services, and digital products.
Several people are succeeding online with this strategy. This four-step process shows you exactly how you can also succeed online.
Why Network Marketing Is Better Than a Regular Job
All professions and jobs are important. And so is network marketing. But comparing it to a regular job that spans 9-5, there is simply more to want. A network marketing profession means you get to enjoy the pleasures of your work as you are compensated in proportion to the work you do.
In addition, there are lots of bonuses, travels, and benefits you get from network marketing that would take years to get in a traditional job. Also, you get to use your time as you see fit. However, you can’t achieve that unless you’ve mastered the skills and the magic wand to convert prospects into sales.
On a deeper level, network marketing advocates for freedom, something most people working traditional jobs feel they don’t have. So there are definitely more gratifying advantages to being a network marketer.
A Better Way Than Network Marketing (Recommendation)
As I mentioned earlier, network marketing, aka MLM, is not for you if you don’t have the above qualities or you are willing to learn them. Personally, it didn’t work for me after trying several companies. However, I learned a number of skills that have helped me a lot in so many ways.
A common challenge with most of them is being stacked with a pile of products you have to buy every month in order to be active or qualify for bonuses. That was a difficulty for me as a student. That is not to say people don’t succeed, but you have to put in extremely much effort.
You need to learn the skills that professional network marketers possess to succeed.
However, it didn’t take much effort like network marketing when I discovered affiliate marketing with this platform to make money online. The best thing is that I can promote any product I want and don’t have to do monthly autoship to qualify for commissions.
It’s the best thing that has ever happened to me in my “my make money online journey”. What I like about it is that you can start for free. Click here to get started.
Over To You!
Have you tried network marketing before? And do you think anyone can succeed in the industry? Kindly share your experience in the comment section and I’ll be glad to connect with you. Until then I hope the article was of help to you.