In today’s world of high-speed internet, fast-foods, and super efficiency, the home-based business market is growing by leaps and bounds. While there are many types of businesses that people can do, working from the comfort and convenience of home, this article will focus on the pros and cons of multi-level marketing (MLM), also known as network marketing.
MLM can offer a person a wonderful lifestyle. Why is it, though, that an incredibly number of people fail to find success, even after years of working hard at their businesses? I have personally seen people who are far more intelligent than me, and who have been a lot more successful in their careers than me, fail miserably at network marketing!
Perhaps, the following lists of many of the advantages and disadvantages of network marketing will help you determine whether or not you should even consider pursuing this type of home-based business.
MLM PROS – Possible Reasons that MLM Could Be a Great Business For You!
- Usually, start-up costs are low.
- Many of the highest-quality products are manufactured by MLM companies.
- You can work it part time if you choose, which allows you to work a job fulltime and work your MLM business in your spare time.
- You can work from your home.
- Your business expenses will be deductible from your income tax.
- You will be your own boss.
- You choose which hours you want to work.
- You may develop a small extra income or possibly even a very large income, allowing you to quit your job, or have a great retirement.
- Your income will be a “residual” income, which will come to you month-after-month, year-after-year.
- You will have time freedom.
- You will meet many like-minded people.
MLM CONS – Possible Reasons that MLM Should NOT Be the Business For You!
firstyou could work very, very hard without making any money!
- The ease of start-up can cause people to get into several companies, with the mistaken belief that they can easily develop several income streams. This causes a lack of focus and makes the person far more likely to fail.
- The products could be overpriced and it may be difficult to determine whether they are any better than you could purchase at a discount store.
- People may look at what is possible to make with MLM instead of what is likely to happen. There are a lot of very inaccurate “
get-rich quick” claims out there. When success doesn’t come quickly, a person may be more likely to quit and join something else.
- It can be very hard to distinguish a legitimate company or opportunity from a scam.
- Many people do not seem to realize that it takes time and money to build a solid business.
- Ideally, MLM is based on everyone doing a little bit. In reality, most people don’t do their part, making it necessary for the few workers to work much harder to find any amount of success!
- The failure rate is extremely high.
- As in any business, to succeed with MLM takes a lot of dedication.
- Unlike a job where you may punch a clock or have a certain number of hours to work each day, no one is requiring you to do anything with your MLM business. YOU must be the one to decide to work
it,or invest your money into advertising. It takes true self-discipline!
- Your family and friends may not at all understand what you are trying to accomplish. Hopefully, you will get very helpful support from others, but realize that they may not support you at all, no matter how dedicated you are!
I suppose that both the PROS and the CONS list could go on and on, but perhaps, you see the picture. If you are a person who can visualize some awesome long-term goals for success, and have the dedication and self-discipline to do whatever it takes, network marketing or MLM could provide you some of the greatest benefits you can imagine. It may very well be worth extremely-hard work and sacrifices in order to realize your dreams.
On the other hand, you may not be cut out for this kind of business. Jumping in and out of one business opportunity to the next will not be what you need. If you do not have the dedication and self-discipline to persevere through the disappointments that you will probably encounter, then I think you should steer clear of MLM.