There are so many misconceptions about network marketing and many people still think it is a quick money making scheme. In below article I am debunking the myths of network marketing
MYTH 1 – You have to join a network marketing company at the beginning, otherwise the market will be saturated.
In actual fact, markets are rarely saturated. Also my advise is that you don’t have to be there at the beginning because 95% of companies go out of business in the first five years. So, you may want to wait until a company is at least five years old and is financially solid before joining.
MYTH 2 – You need to be lucky
Sometimes it may look like some people are lucky. One of my members is successfully building her business. When people hear that she is in my team, they think I’m lucky to have found her. However, they forget that I have enrolled many people before finding her. It’s not luck, but diligence
brings you success in network marketing.
MYTH 3 – The people at the top earn all the money
Although the top earners do earn very large incomes, the fact is that most compensation goes to the majority of members who are just everyday people like you and me and not the top earners.
According to Eric Worre’s Rise of the Entrepreneur, the annual global income of the network marketing industry is US$71 billion. Of that, however, only $1 billion is paid to the top earners, whereas $70 billion – representing 98% of the
total – goes to majority of people.
Everyone in network marketing has an equal opportunity to earn according to a single compensation plan that doesn’t discriminate by an individual’s gender, race of age.
MYTH 4 – If network marketing really worked everybody would be doing it.
The fact is, many people start but most drop out before seeing success. Unfortunately, some individuals promise unrealistic results from network marketing, and many say that you can get rich in a couple of months. But network marketing is not the lottery; it’s a business like any other and it takes time to build a network. Although I have the freedom to choose when I work, I still have to work diligently and consistently. In The Four Year Career, Richard Bliss Brooke writes that it takes an average of four years to get to the top. I can only agree with that; its taken me four years to reach a yearly six figure income
MYTHS 5 – Network marketing is a pyramid scheme
Pyramid schemes are based on the recruitment of members. There is usually no supply of products or services and they are illegal in many countries.
Network marketing companies offer a product or a service. The members are paid according how much service or product they sell and not how many people they recruite.
MYTH 6 – Network marketing can’t give you a secure income.
Many people stay in traditional jobs because they think those jobs are secure. The reality is, however, that job security no longer exists. You can be downsized at any time and you may not even get a decent payment for all the years you’ve ‘invested’ in your job. Many people are on contract and they can be made redundant without much notice.
Network marketing does provide job secutiry. You know that if you speak to five people every week and sign up five people every months, you’ll earn x number of dollars.
From the book: Live your dream – How to establish a successful networkmarketing that works