Network Marketing, also known as Multilevel Marketing or Referral Marketing or Direct Selling, is like any other business. It is an opportunity that is popular among those looking to earn a second income or own a flexible business. Well-known companies in the US like Avon and Tupperware come under Network Marketing. Network Marketing has been in India for more than two decades but has shot into the limelight during the ongoing Covid-19 pandemic. It provided livelihoods to millions who lost their jobs due to the induced economic and unemployment crisis. Network Marketing is showing the way for aspiring businesspeople in attaining financial independence and becoming entrepreneurs. This article explains how Network Marketing is indeed an entrepreneurial journey.
Network Marketing – A Popular Business Model
Network Marketing is a business opportunity that incorporates the popular Multilevel Marketing (MLM) business model. That is the reason why it is also interchangeably referred to as MLM business. There are three types of MLM business models – Single-Tier, Two-Tier, and Multilevel-Tier. It is at the discretion of the Direct Selling company to deploy any of these MLM business models. It is therefore essential for an individual to know before partnering with a company which model it deploys. The Multilevel-Tier MLM business model is the most popular and beneficial as it also enables you to earn a residual income. And well-known global companies like Amway, Oriflame, Qnet, and Tupperware incorporate this MLM business model as part of their Network Marketing strategy.
Ah! the Dream of Becoming an Entrepreneur!
We all have dreams – some dream about driving fast cars, dream of living in a big house, and dream of owning a successful business and creating waves in the industry. To those wanting to get into business, becoming an entrepreneur can be their ultimate dream! So, who is an entrepreneur?
An entrepreneur is a person who sets up a business by taking financial risks in the hope of earning big profits. Being an entrepreneur allows you to fulfil your dreams, it allows you to make your own rules as you move ahead, and you are not answerable to anyone.
You do not become an entrepreneur overnight; it requires dedication and discipline. It would help if you were focused on pursuing and achieving your goals. You may have the flexibility to choose your working hours but, you still need to work – you cannot escape from it! So, is it worth taking the risk to become an entrepreneur? O, is there any other way to become an entrepreneur that does not involve many risks? The saying, “Where there is a will, there is always a way” holds. If you have the will, the next section will show how you can become an entrepreneur by joining a Network Marketing business.
Network Marketing – The Quick and Easy Way to Become an entrepreneur
There are four types of entrepreneurial businesses – Small Businesses, Scalable Startups, Large Companies, and Social Entrepreneurs. And all of them engage in entrepreneurship. Some people start their businesses and succeed right away. And some worry about making their business work and constantly doubt themselves! Network Marketing is a business that involves negligible investment and requires no prior experience. And neither you require any hi-fi qualification. All that you need is the passion for sales and making friends that can grow your people network. The Network Marketing program requires a low upfront investment to cover the product sample kit costs. As a Network Marketer, you earn a lucrative commission by directly selling company products or services to your customers.
Further, you also get compensated when recruiting other sales representatives – these recruits constitute your downline whose sales also generate an income for you – known as the residual income. Traditionally, Network Marketing involved door-to-door sales, but it has evolved over the years. The advancements in technology compounded by the affordable Internet have made it possible to connect with your customers and prospects online. It makes your work even easier as you can continue working from the comforts of your home during hours convenient to you! A word of caution, though. When it comes to launching your business, be more prepared and do your groundwork well. Collaborate with a company that complies with government rules and whose compensation plan match your expectations. Network Marketing is indeed an easy and safe route – it shows you how to attain financial freedom and become an entrepreneur.
Have a Fruitful Entrepreneurial Journey with Network Marketing Business
Your entrepreneurial process began with idea generation, evaluating the Network Marketing business opportunity, joining the company, planning, and finally launching the business. Having stepped into the world of Network Marketing, your entrepreneurial journey of a new business has now begun. Use innovative, unique, and digital ways leveraging technology, eCommerce, and the Internet to make your entrepreneurial journey more fruitful. All the best. Read more about the journey of a QNET entrepreneur here!
