Network marketing is a business model that depends on person-to-person sales by
independent representatives, often working from home. There are many reputable network
marketing operations, but some have been denounced as pyramid schemes. The latter may
focus less on sales to consumers than on recruitment of salespeople who may be required
to pay upfront for expensive starter kits.
Network marketing refers to that marketing in which marketing is done by individuals
for companies through the network of individual and not through the network of the company.
Hence in case of network marketing companies do not market their products through channels
like television, newspaper, pamphlets and so on rather it is the individuals who market their
products through individuals own network that is family, friends, neighbors and people in the
workplace. In order to understand this concept better let’s look at some of Network Marketing
advantages.
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Advantages of Network Marketing
1.
International Business Owner
Do you love to
travel? You can literally work anywhere in the world where a network
marketing company is operational. As long as you have a smart phone /laptop,
WiFi and a burning desire to win, you
are in business! Meet new people from all over the world with just a tap on
your keyboard and see the world and experience it first-hand. I can literally
choose which province, state or country I want to build in. Truly, the
world is your oyster and keep in mind that as you decide where you want to
build your business, the next benefit is key to building globally.
2. Personal Branding
With all that you will learn through this profession, you may become an expert marketer,
however, if trained properly you will understand that you’re not a salesperson or a
professional marketer for your product or service. You are branding you and your values and
what you stand for. People buy into your company or products because they like and trust
YOU. Once you have established this for yourself, and you become a leader in your
community by using your voice and helping others, your level of success is exponential and
never capped.
3. the benefit from
Network Marketing
As far as individuals are concerned they also benefit from this marketing
because they get the opportunity to work from home and be their own boss.
Hence individuals who have the strong network of friends and family can make a
lot of money by just selling or marketing the product to their network. Hence in a
way this marketing helps the individuals to become entrepreneurs without too
much investment as this type of marketing requires strong network rather than
capital or money.
4. Low Start Up Costs
you can start a network marketing business
with either very little investment or no
investment at all. In most cases, your
initial investment you are required to pay as start-up
capital will not even
come close to your earning potential - which, if taken seriously will pay
out much more compared to other types of businesses. The best thing about
investing in this
type of business is that there are very minimum monthly costs
such as your monthly auto-
ship that can cost anywhere from $50 - $100/month
with products you consume. What’s great
is that the operating systems are
already in place for you such as a back-office, sales/financial tracker,
marketing material, replicated website, corporate training, etc. which
some companies charge a monthly fee for. Basically, you’re getting a business that is already built, market research and costs of formulas and patents are taken care of; it’s ready for you
to run right out of
the gates!.
5. Huge Tax Perks
One of the not-so-obvious advantages of network marketing that people miss are the incredible tax perks which an ‘Employee’ doesn’t have. When you join a network marketing company you’re starting your very own home-based business and even your capital invested can be written off. For those of you who have a traditional job, you too can be earning extra income and as a huge bonus, you will have various tax advantages over your colleagues. If you like to travel, dine out, entertain, if you have a mortgage, car payment, fuel costs, office supplies, etc. then this is possibly the greatest advantage of all as you are allowed to deduct your expenses from your income before calculating how much tax you should pay!.
I love Robert Kiyosaki’s cash flow quadrant: ‘Businesses earn, spend and pay taxes. Employees earn, pay taxes and spend.’ In other words, businesses spend what they earn before paying their taxes, while employees pay taxes before spending what they earn and it’s usually a 30% deduction of your hard earned cash - how fair is that? Remember, with the money you save on taxes that’s additional cash flow on top of the extra income you’re earning with your home-based business. Consult with your local tax specialist to find out what you can deduct and have them show you how this puts you at an advantage. As someone in the business, your tax liability is not calculated on how much income you have earned. No. It's calculated based on how much of what you have earned remains after taking off some of your expenses from that income. This is a no brainer!.
6. Freedom
Last but not the least, freedom of work-space, freedom of
work-culture and the freedom to
expand your business at your will is all possible with a career as network marketers.
With sharp marketing skills, strong connection building forte
and clear understanding of
where and how you see your business progressing,
attaining freedom in this stream is
easier. This type of a career doesn't just
offer good earning but also a lifestyle that makes
individuals choose these type of programs.
7. Like-minded Community
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