|The Benefits of Network Marketing as a Home-Based Business
by Diane Hanson
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|Once you've become involved in network marketing, you will undoubtedly receive negative comments about the industry. Individuals who promise ludicrous amounts of money in the first six months of business are unfortunately all too common in the industry. However, if you "keep your eyes on the prize," which are the benefits and long-term income potential, there is great opportunity in network marketing.
Here are some of the benefits of network marketing over working as an employee or setting up other small businesses:
1. Minimal financial risk. The start-up costs are usually below $200, and often for less than $200 a month you can run a moderate to full-scale prospecting campaign. This is untrue in other businesses.
In fact, I just recently talked with an individual in New York whose home-based medical billing business had placed him $160,000 in debt afer 3 years. Apparently, between start-up costs, equipment, and inadequate marketing which had left him without accounts, the debt had risen astronomically. Once involved, he had so much money invested that it was difficult not to try and keep going to make it work, so the debt kept accumulating.
On the flip side, the low investment means that many people give up before they start---which they wouldn't do in franchising or medical billing where they have so much at stake. So it is important to remain motivated and realize the long-term potential.
2. You are in business for yourself and can choose the people that you want to work with. Network marketing offers you the opportunity to choose a team of players to work with.
3. You have a lot of flexibility. You can start working part-time, continuing working part-time, or go to full-time, if you want.
4. With network marketing, you have impressive tax advantages, and can legally deduct phone, home office, and travel expenses because they are business expenses.
5. There are no geographic restrictions. With the technology available today, you can work with people all over the United States and the world. There is also no time clock, no commuting, no employees, no ceiling on earning, no high overhead, no dress code, and no franchise fees or royalties to pay.
6. Network marketing provides individuals with a phenomenal opportunity for personal growth and leadership development.
7. Network marketing provides a very real opportunity to earn an extra $200-$500 a month part-time and $10,000-$50,000 a month and more full-time. Success comes from cooperation, not competition.