My definition: Network Marketing takes the idea of franchising to dens and living rooms. Similar to any McDonald's or Domino's Pizza, a network marketing company allows someone to invest in a proven business, and market tried and tested products and services. What makes it unique however are two things: in a network marketing franchise, you have the ability to launch a business, in most cases, for less than $500. Moreover, you have the ability to introduce other business partners to your network, and thus, earn a small commission on all customers that come through them and potentially, your entire network. Along with myriad tax benefits, this profession has allowed many people to free up their time by building residual income. This is why so many people, including high paid professionals such as corporate attorneys, doctors, and engineers are flocking to this profession.
The network marketing industry (also known as "Direct Sales") garners nearly $200 Billion Annually and this figure is growing. People often ask, how is it that network marketing is so lucrative? It is because most network marketing companies invest millions of dollars in cutting edge products, services and business practices that meet a public demand. For instance, my company recently completed a record setting $62 Million Dollar deal as it created a health and wellness division. (Read more about this product and the ingredient deal, here).
Moreover, companies notice that consumers rely on word of mouth over traditional advertising and are very willing to pass along advertising revenue to these companies. (This is why our MLM company, 5LINX, deals with various providers such as DirecTV, GE, Sprint, Comcast Verizon and so many more). Simply stated: Network marketing allows people the chance share products and services via word of mouth to friends and family and get paid for it. So when people say, "I'm not a salesperson", I typically ask, "How much of a salesperson do you need to be to recommend a good product or service to someone you already know?"
That's the best way I can explain it. Still a little foggy? Check out these two videos.
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