1. An Income Generating Asset - Most people's income source stops when they stop working. If you have a j.o.b you know that if you stop going to work, you don't get paid. Similarly, if you have your own business or franchise, you don't get paid unless you're seeing customers or selling product (in fact, it's likely that the business will own you rather than you owning the business). Can you ever build freedom that way? The beauty of network marketing is that once you build your network, it keeps working for you - generating income even if you stop working. That's what rich people do, they build and work hard to create assets that keep generating and growing their income. Network marketing companies give you the opportunity to build and create your own income generating asset by building your own network. What's easier, spending your life working to build someone else's network through a job, or working hard for a few years to build a network that will generate income for the rest of your life?
2. Low Start-up Investment - This is one of the best investments you can make for yourself today or in the coming year, considering the potential returns, especially in today's economy. You can typically get started in network marketing for under $500. In fact, some companies have programs for under $100. Although you should never quit once you get started - especially if you understand how this business works and what this industry can do for you, if you decide that network marketing is truly not for you, thousands of dollars would not have been lost should you do decide to quit.
3. Tax Advantages - I am not an accountant, but I know having a business can be a tax advantage for you. Rich people pay some of the lowest amount of taxes because of all the tax advantages they have. If you want to have some tax advantages when you file your 2011 return, you should start a business. If not a network marketing business, just start A business.
4. Personal Development - They say MLM is truly a personal development business. I mean, you really do have to do some personal development to rid yourself of all of the negative beliefs that are implanted in our minds throughout all our years. It's a continuous process that goes hand in hand with the industry. It's all about growing and investing in yourself and your mind and becoming a leader in the industry. And it is one of the reasons I believe you should start a business. If nothing else, you can change your mindset and attitude towards life.
5. Fulfilling Dreams - If you have dreams of working 9 to 5 every weekday for the rest of your life, then you should not start a business in this industry. If you have dreams of owning a rewarding business, traveling, and/or financial freedom then this business is for you. But only if you decide and work hard to accomplish those dreams. You can start now or wait for the new year, but either way I think it's better to begin working towards achieving your dreams instead of someone else's dream - what do you think?
6. Helping Others - One of my favorite reasons for getting involved in this business! Zig Ziglar put it best - "If you help enough people get what they want, you get everything you want". Your success in the network marketing industry is dependent not only on your desire, but also on the success of those you decide to help.
7. A Solid Business Model - Robert Kiyosaki, Warren Buffet, Richard Branson, Donald Trump. Do you think these individuals know something about money, cashflow, investing, and creating assets? Yup, you can say that's one thing they have in common - in addition to all having some involvement in the network marketing industry. The fact is, it is one of the fastest-growing business models in the world whose success has been documented by some of the most credible financial journals published - such as Fortune magazine, Forbes and The New York Times. I like it as a business model because, unlike a franchise I do not have to spend hundreds of thousands plus 80 hours per week to get involved.
So if you're looking to create some additional income in the coming year, consider getting involved in network marketing. And while you think about it, consider these questions:
1. When would you like to retire; in 3yrs, 5yrs or 10yrs?
2. How much money do you need monthly to retire comfortably?
3. How much money do you need to invest at a 6% return to receive your desired monthly income? (hint: take the answer from question #2 and multiply by 200).
Now, if you have a plan to achieve your retirement goal and accumulate your desired income, awesome! you're all set. If not, I that's yet another reason you should get into network marketing in 2011.
Could you use some real, actionable information for growing your network marketing business?
Felix Mack enjoys helping others succeed in their network marketing business. Visit www.felixmack.net for additional network marketing success tips, strategies, and information to generate more leads and build your network marketing business.
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