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One of the great ways to earn extra income is through Network Marketing. You can earn just a little extra money each month, or even a full-time income, through personal and team sales of products you use and love.
What is Network Marketing?
Network Marketing is simply the process of recommending and selling products to those you meet. In return, you earn a commission on those products. Most people find themselves involved in a network marketing company because they already love and use the products the company makes and they already recommend those products to others.
How Does Network Marketing Differ from a Pyramid Scheme?
There are quite a few people out there that assume network marketing is another term for a pyramid scheme. This is not true. First, a pyramid scheme is illegal while network marketing is not. Second, a pyramid scheme’s main focus is on recruiting members and participants only make money by recruiting. For example, the first member pays $100 to become a member. He then recruits 10 people who also must invest a $100 which goes to him, creating a profit of $900. Those people must go recruit more people to make money. It is very difficult for anyone at the bottom to get to the top.
Network marketing companies focus on selling products like any other store. Then they focus on building a team of salespeople who also sell products. The products are the main focus. Money is made off of sales in the form of a commission, not off of recruits. To put it another way, imagine you have a traditional store. Your store makes money off of its sales. One day, you decide to franchise your store and allow others to open one. You still make money off of your franchised locations while the new franchise owners make money off their sales. The only difference here is that the “franchise owners” or your team members can also then “franchise” their business by bringing in their own team. You can easily make a decent side income without ever building a team but, as in the case with traditional stores, your success increases when you build your business.
Most network marketing companies also have fairly low start-up costs. This money goes to the company for materials or products, not to the recruiter. Also, the commissions that are earned on your team members’ sales do not come out of your team members’ paycheck but from the company itself. So your team members always get the full amount from their own sales. In this way, every team member has the ability to be the head of their own sales team and every team member has the ability to outperform or out earn the anyone including their sponsor.
How much can you earn with Network Marketing?
While the earning potential with network marketing is unlimited, it is not a get-rich-quick scheme. The amount you earn is directly correlated to the work you put in, the amount of product you sell, and the team you put together. I, personally, know people who make as little $26.00/month and as much as $30,000.00+/month. They have spent years building a solid and loyal customer base and training their team members to do the same.
What kinds of Network Marketing companies are out there?
That are many kinds of network marketing companies. Over the years, I, personally, have been involved with 3 different companies – a skincare company, a jewelry company, and, now, a health and wellness company, Arbonne, that I have been with since the beginning of 2015. You can also find companies that sell cookware, travel packages, essential oils, bags and clothing, etc.
The key to being successful at network marketing is finding a company you love, with a product that sells, and putting in the hard work. If you do those things, you can make a great income through a network marketing business.