Everyone has been approached by various family members, friends, and even strangers about joining the newest and greatest business opportunity. Some of these approaches come with promises that the business is easy and you will achieve wealth in a small period of time. Some network marketers are using platforms like TikTok to recruit people, and they are able to cast a wide net using services such as TikTokStorm. But there are a few things you should consider before you get into the world of network marketing.
I have come to a few conclusions in my independent research of network marketing companies, and I would like to share five of those conclusions with each of you.
1) One of the biggest criticisms I hear of network marketing is that the companies are all pyramid schemes. Each time I would ask someone to explain this to me, the typical response was the people on top make money off the people on the bottom. The more I thought about this, the more I thought it sounded the same as any other business in corporate America. In any business, the top executives typically make the most money, and their continued profits are based on the production of the staff. While pyramid schemes do exist, they are illegal, and there are numerous network marketing companies that are not involved in this type of activity.
2) Network marketing is not for everyone. If a person has a fear of sales, then this is certainly not the type of business for you. In any marketing company, there is a product that must be sold. For this reason, if you choose to join a network marketing company, it would be wise to learn the product and ask yourself if the product is something you would refer to your family and friends whether you made money on the sales or not.
3) There are some network marketing companies that do not offer a solid product. One of the things I discovered in my research is there is a large number of companies that offer juice products or other health or weight loss products. While I do not know which ones work, which do not, or which cost a reasonable amount, the one thought that occurred to me is that it may be tougher to market a product to your friends when you have competition from hundreds of other products that also claim to be the best.
4) The vast majority of people who try one network marketing company will also try several others. This is not to say that this is a bad thing. Many of us also try different people before we get married, or different degree programs before we graduate, or different shoe stores before we make a permanent decision. There is a lot to be said for comparison shopping. I believe that the difference between those who are successful in these businesses and those who are not is their motivation for joining a particular company and their belief in the product.
5) Network marketing is not a method to get rich quickly regardless of what the claims may be. It is important to know the compensation plan, so you know what your potential will be with the company. And again, the income is driven by sales, so you will need to learn the product. Joining a particular company should not be because someone said you would earn money fast. The fact is that it takes most business owners two years or more before they see significant profits. For this reason, you will need to decide if you are prepared to make the investment and put in the work it will take to produce profits.
It is up to the individual to determine if joining a network marketing company is for them or not. There are some unique opportunities that are offered that many can benefit from. My word of advice would be to take the time to find a reputable company that has been around for a while. Check the compensation plan to determine if it works for your needs, and lastly, do not choose a product to market that you would not want someone else selling to your friends and family.