3 Myths About Network Marketing
Making money from home is an attractive proposition and has a great appeal for many people for many different reasons. The truth is that much like buying a lottery ticket your success in the network marketing arena is as they say a crap shoot. If you are looking to make money from home and are considering a network marketing or other type of online business you need to know about these 3 network marketing myths; “all network marketing opportunities are the same”, “network marketing requires no investment’, and “network marketing success happens overnight”.
All Network Marketing Opportunities Are The Same
Everyday there is a new breed of entrepreneurs that hit the web in search of yet another way to make money in network marketing. Most with the same idea that all opportunities are created equal and all they have to do is sign up and “BAM” the money starts to roll in. They fail to understand or perhaps have not been exposed to the statistics regarding this particular industry and other related industries such as affiliate marketing or MLM sometimes referred to as pyramid marketing. The fact is that the failure rate for most of these opportunities is close to 90%.
Let’s not right away lay blame on the network marketing or affiliate marketing opportunity as the failure rate in most cases is the result of over zealous entrepreneurs. They join one opportunity after another only to quit when the hype doesn’t meet their expectations after the first or second day. The main culprit in most cases is the feeling that online business are different than brick and mortars, that online business do not require any effort, that online businesses are point and click your way to riches. The list of misconceptions goes on and the failure rate remains for all practical purposes unchanged. First an foremost you need to understand that all opportunities online are not created equal but the path to success is the same. The underlying problem is that due to this misconceptions new entrepreneurs just don’t do any type of research before they sign up, never make any type of commitment to succeed, and last but not least are not willing to put forth the effort it takes to run their own business.
Network Marketing Requires No Investment
How many of you have ever heard that it “takes money to make money”, this was true when I was young and it is just as true today whether you are running a landscaping service or get involved in a network marketing opportunity. Just stop for a minute and think about it and it will soon become crystal clear for you. The type of expenses are almost intuitive for example in network marketing; you will have to pay a fee to join most opportunities (in most cases a recurring fee), you may need a domain name, you might need hosting, you will need marketing materials (banners, auto responders, etc..), training in some cases, and you will need to pay for advertising.
Some of these things you can do yourself like advertising on free classifieds or Craig’s List, you can spend countless hours on Google learning any required skillsets, and perhaps you can design your own banners maybe set-up your own blog or website. What most don’t realize is that this free stuff you do yourself is not actually free unless you work for free. It is a huge time investment on your part and your time must be worth something especially if you have the skills it takes to do some of these free things. This is not a bad approach in the beginning especially if you have a limited budget in other words more time than money. However, at some point you will realize that you cannot do everthing yourself and expect to get to the next level there just aren’t that many hours in a day.
Network Marketing Success Happens Overnight
Here is where we really need a reality check and we need to stop being blinded by the hype (shiny object syndrome) if we expect to be successful in our network marketing business. To start with we need to recognize the difference between a shiny object and a precious metal. You can not do this by reading some carefully crafted copy, or some screenshots of someone else’s income, and not even a few pages of testimonials. The main reason being is that what someone else may have made is no guarantee for your results and the same applies for all the testimonials. The main reason being that you at this point have no idea about the background or experience of these individuals, the resources they have access to, their available budget, or the endless nights they spent working to get to where they are now.
You may not be starting out at the same point, you may not have the same resources, you may not have the same budget, and you may not have the same motivations as those individuals. I am not saying this to discourage you or to imply that network marketing is not a great opportunity. Quite the contrary, merely want you to go into it with eyes wide open and know it can be a tough row to hoe. Get in the habit of looking past the hype and do some research about the opportunity before you get involved with it. Research their leaders, and the longevity of the organization you plan to join, this is probably the most important. Manage your expectations and treat it like a business as that is what it actually is. Don’t be expecting results in the short term odds are they will not happen.
Here is what I hope your walk away with today. I hope you have a better understanding of network marketing and the whole make money online arena. I hope you understand that not all opportunities are the same so do your due diligence it will pay off in the end. I hope you understand the investment involved and plan a realistic budget based on your situation or be prepared to supplement it with a time investment. Finally, I hope you understand that success is not going to happen in the short term regardless of the opportunity you join so manage your expectations accordingly. My goal as always is your success and I believe you can be successful online, I believe you have what it take for this success, and I am convinced one day it will happen.