Network marketing – an overviewJune 12, 2008 at 9:25 am | Posted in business opportunity, multi level marketing, network marketing, Uncategorized | 1 Comment
Tags: business opportunity, MLMs, multi level marketing, network marketing, pure edge, pure:edge, Success University
It’s a fact that network marketing is one of the fastest growing areas of entrepreneurship today. It’s also known as multi level marketing or MLM for short. Multi level marketing is becoming the small business of choice for the 21st century for a number of key reasons:
- relatively small start up cost
- it offers the ability to leverage time, money, activities and knowledge
- can run alongside a full time job or business
- time tested systems are often provided making it easy to pick up
- team support offers a helping hand
- web based communication methods make it easy to communicate with a world wide audience
- economic trends are making it more appealing to a wider audience
Much negative has been said about network marketing. ‘It’s a scam’. ‘You’re benefiting from other people spending their money’. ‘It’s a pyramid’.
The Office of Fair Trading defines a scam as ‘a scheme designed to con you out of your cash’. Put simply then, if you get a valuable product for the cash you pay then it’s not a scam. When you go to a shop, you exchange money for a product. It’s the same within network marketing. If there’s a joining fee or indeed any exchange of money then you should get a product, be it a web site to get started, physical products or training. If that happens it’s not a scam!
Do distributors in network marketing or MLMs benefit from other people spending their money? Yes. Do shop keepers and business owners benefit from other people spending their money? Yes. Successful business is based on someone supplying a product that people choose to buy and the supplier of that product benefits from that purchase. (The buyer of the product should also benefit and the most successful businesses are those that supply a product that adds value to the person who purchases it). So network marketers introduce people to a product or business and get paid for it, just like a shop keeper!
It’s a pyramid. Now this is a sticky one! I’m afraid the whole world is one big pyramid. Who gets paid the most, CEO’s or the multitude of employees at the bottom of the ladder? Who earns more the green grocer or the huge supermarket chain? Does the little employee and the green grocer have a fair shot at either becoming the CEO or the owner of a supermarket chain? There is a small chance but no, not really. Is it fair? No. OK, so let’s look at network marketing. People introduce people to a product and/or business who then introduce people to a product and/or business who then…. Does the new person at the bottom have a chance to be the person at the top? Yes! It’s actually a fairer system allowing for anyone to progress based on their efforts. This has no limits like there are for the employee and the green grocer. Work harder, get paid more. If you work harder and faster than the person who introduced you then you’ll get paid more. Great! Pyramids are illegal anyway, large network companies simply couldn’t exist if they were even a little bit shady.
Instead network marketing and multi level marketing is a vibrant and successful industry. In 2007 it is estimated that worldwide retail sales by members of the World Federation of Direct Selling Associations accounted for more than US$111 Billion through the activities of more than 67 million independent sales representatives.
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Written by Sara Brown 12/06/2008