What is a Network Marketing Home Based Business?
A network marketing home based business is recognized as one of the best ways to generate a passive income or better yet, provide a full time income that is well above the average salary.
Working from home can be for anyone really. You don’t have to have university qualifications coming out of your ears either.
If you are willing to learn and develop your skills, are determined and have good work ethics then you are well ahead of the pack already.
Whether you are a stay at home mum, housewife, someone looking to replace the income of your primary job or simply wanting to make a passive cash flow, then working from home is possibly one of the best options you can look at doing to achieve this.
There are many legitimate network marketing home based business opportunities in the market place. But I must warn you, watch out for those scam artists and masterminds behind the countless schemes drifting around out there.
I can’t stress enough the importance of doing your due diligence.
What Does a Network Marketing Home Based Business do to Make Money?
By now you have probably heard about a lot of people working from home or how your relative or friend has a home business.
But what exactly do they do to generate an income?
The answer to this question is quite broad, because in reality you can sell any good or service you want.
As long as there is a demand for your product or service and you can tap into a market or a customer base, then there is money to be made!
Apart from having a network marketing home based business there are many other options you can choose from, so I recommend to first look at some
home business ideas
before continuing to read the rest of this page, that way you will have some examples to relate to which will help your understanding.
What Are the Advantages of Running a MLM Business from Home?
Just like any home business there are advantages of running a network marketing home based business too.
- If you compare it to a regular job, you won’t have to dig deep into those pockets of yours for coins to cover the expenses of your daily commute.
It can be very costly when traveling back and forth to work each day five times a week, people can easily spend over $100 a fortnight.
- Another benefit of working from home is the fact that you don’t lose 30mins to an hour and a half each day commuting. Imagine how great it would be claiming that amount of time back.
You might decide to sleep in or maybe do a light workout in the morning – heck, why not do both, after all there isn’t any rush.
- You may have also noticed that lunches and coffees tend to cost more when you are not at home too.
So even though this may sound small, go ahead, add up the costs of all the coffees you drink at work during the week and those expensive (usually unhealthy) lunches, you will be surprised by how you will save.
- You have the freedom to set your own hours. There is no need to slave away at that 40 hour a week job filling your boss’s pockets with money.
You can be as flexible as you like and you get to decide how hard you want to work and how much effort to put in. You will be able to do the errands and chores that you hardly get to do since there never seems to be enough time in the day to do them.
But hey, don’t get me wrong, there will be times when you will have to really work hard at your MLM home business, especially during the initial stages when you are first starting out.
If you want that money coming in you have to work for it, remember, nothing comes free in this world.
- If you really want to work from home, then using the internet is definitely the doorway to unlimited possibilities for your network marketing home based business.
It literally opens you up to the whole entire global market, this is a lot more exposure then that convenience store down the road will ever get.
- Owning a legitimate business usually means that you get to take advantage of many tax benefits. Check with a knowledgeable tax professional in order to maximize your profits and overall cash flow.
But What If I Can’t Start A Business From Scratch?
That very thought of not being able to start a business can be scary. It’s even harder if you don’t have knowledge or experience on a good or service to draw from.
Well, I have some good news for you, you don’t have to. There are many opportunities available to people that have done all of this initial set up for you.
If you have read Robert T. Kiyosaki’s (the author of the Rich Dad Poor Dad series) books then you are probably well aware of the cash flow quadrants. If you don’t then here’s a quick overview.
Imagine four separate quadrants separated by a plus sign ( + ). Now, out of these quadrants you can have a cash flow coming from each one. The majority of people have an income generating source coming from one or two quadrants max.
Here are the classifications of the four quadrants:
E=Employed – This is in the upper left quadrant and represents people who are employed and work an every day, run of the mill job, basically so other people can get rich off their backs.
B=Business – This is in the upper right of the quadrant and represents people who own a business.
The definition of this type of business is that it doesn’t require you to be there all the time for it to generate an income. This is where you want your home based business to fall into.
S=Self Employed – This is in the lower left quadrant and represents people who are self employed that own a business.
Now, the key difference between this business and a business in the ‘B’ quadrant is that an ‘S’ type business requires you to be there to make an income. Just like a plumber would have to turn up to do work in order to be paid. See the difference?
I=Investment – This is in the lower right quadrant and represents people who make investments in the share market and so forth.
In one of Robert T. Kiyosaki’s books, ‘The Business School, For People Who Like Helping People’ he emphasizes on the importance of transitioning over to the ‘B’ quadrant. This is because it’s where the rich make their money.
However, it can be very, very expensive to establish yourself in this quadrant and on top of that you have to try and be successful.
This is why most people can’t enter it, they simply can’t afford to.
Is it Possible to Have My Network Marketing Home Based Business in the ‘B’ Quadrant?
Yes! You already are! Not many people may actually realize this, but network marketing, also known as Multi-Level Marketing (MLM) uses a business model which puts it into the ‘B’ quadrant.
Network marketing is one of the best and easiest ways to access the ‘B’ quadrant and it is a very popular vehicle to financial freedom in the home business world.
Many people fail in the MLM industry because they are given such poor training by the company and their mentors.
Up to 97% of network marketing home based businesses fail, but when you compare it to the failure rate of standard home based businesses, which is 95%, there isn’t that much difference.
But if you really want to replace the income from that day job or earn an extra cash flow, then I recommend starting a network marketing home based business.
You will learn that this industry has a bad reputation, but those comments are only coming from people who failed and their failure was most likely due to lack of commitment, poor training in sales and marketing and also not to mention that they were probably get rich quick seekers too.
As you may have noticed, this website focuses on network marketing.
But the difference with this site is that it provides you with a lot of training on sales and marketing and effective methods on how to sell products, including a comprehensive guide on how to
start a home business
to get started in a home based business even if you don’t want to do a network marketing home based business.
Throughout this site you will also find ‘Contact Me’ forms, so if you want to ask me any questions, I will be more than happy to help.
But if you want to look into starting a network marketing home based business then you can start by learning the basics behind it here in this article on
'Start an MLM Business'
then you can proceed throughout the rest of the site and learn what you need to before deciding on what you want to do.
By bringing your
network marketing business online
you arm yourself with so many more capabilities than an off line network marketer.
I hope you enjoy the website, you will find very useful and valuable information on how to do network marketing successfully.
I also let you know what common pitfalls to avoid which tend to catch most people out early on in this industry and causes them to go down that road to failure, which hopefully won't happen to you from what you learn here!
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