ADVANTAGES AND DISADVANTAGES OF NETWORK MARKETING BUSINESS.

ADVANTAGES AND DISADVANTAGES OF NETWORK MARKETING BUSINESS.

Like everything else, a network marketing business has its benefits and risks.

Many people have succeeded in it and many people have failed in it too.

If you are new to the network marketing industry or if you are about to be part of it, this article will assist you make an informed decision.

Although I'm very passionate about network marketing industry and I always encourage people to participate in it mostly because of its impact on my life. 

Nevertheless, I'll try my best to be as objective as possible so as not to influence your decision.

This write-up is based on my observations. It may not contain all advantages and disadvantages but I believe it will help.

Let's proceed.

ADVANTAGES OF NETWORK MARKETING BUSINESS.

#1) FLEXIBILITY 

Network marketing offers you The Opportunity to build your business on your terms. You can work anywhere, anytime, with anyone, and with any tool. In summary, you are the boss.

#2) LOW ENTRY COST 

Joining a network marketing business requires low capital, unlike other business models. This makes it easier for a lot of people to participate.

#3) TRAINING AND SUPPORT 

Since network marketing business is all about leverage, you can't earn money if the people you brought into the business do not earn. The company won't grow if the distributors are not growing. 

Due to this, uplines offer free trainings and support to their downlines.

Some companies pay huge money for the training of their distributors and this can help distributors develop great business and marketing skills that will help them succeed faster.

#4) UNLIMITED EARNING POTENTIAL 

Another exciting thing about network marketing is its unlimited earning potential.  

Network marketing is one of the industries that you can start from zero earnings to millions within a reasonable number of years and there is no limit to your earnings. The amount of money you earn depends on your dedication and effort.

#5) PERSONAL GROWTH 

It's always said that network marketing is a personal development business with a compensation plan attached to it.  

Network marketing provides the opportunity for personal growth, you can only earn more when you know more because of this, you will be committed to developing yourself in almost all aspects of life.

In my opinion, network marketing cuts across almost every aspect of life. You will end up becoming good in every aspect of your life. You will become a better person in the process of building your business.

#6) LEVERAGE

Leverage in network marketing business simply means benefiting from the work of your downlines long after you recruited them.

In network marketing business you have the opportunity to recruit other distributors and they also have the opportunity to recruit their People. This is referred to as a team of distributors. Every activity carried out by your team members contributes to your earnings.

This is one key benefit that enables common individuals to enjoy the same principles that big businesses are enjoying.

#7) YOU CAN WORK WITH ESTABLISHED COMPANIES

For any company to stand the test of time, they have been able to structure itself right. They have developed a great product, strong brand, marketing system, customer service, and more. 

Partnering with an already structured company can enhance your chances of success.

DISADVANTAGES OF NETWORK MARKETING BUSINESS

#1) RESIDUAL INCOME DIFFICULTY

Although network marketing preaches about residual income but in reality it's not easy to attend it.

You won't attend residual income in network marketing when you think you should. This is because it will take time for you to develop the necessary skills needed. 

In reality, only a small number of distributors attend this level. Until you attend this level, you must keep on keeping on.

  #2) RECRUITING PROBLEM

Network marketing business is about moving Products from the company to the consumers through distributors.

This happens in two ways by buying from the company and selling to the consumers directly or by recruiting other distributors.

you can't earn good money by simply buying and selling you have to recruit more distributors and this isn't easy for a new distributor.

Recruiting is one of the major challenges faced by networkers and it can be frustrating when you are new.

#3)NEGATIVE REPUTATION

The Network Marketing business model has gained a negative reputation due to unethical marketing strategies used by new networkers. 

Like everything else, there's a right approach to doing something but if you don't learn, you will fail. And in the network marketing profession, the unethical practices by uneducated network marketers affect the entire industry due to this, even if you are a professional, you may be misunderstood once someone knows you are involved in network marketing.

This negative reputation in the industry might delay your growth.

#4) LIMITED CONTROL OVER THE BUSINESS.

As a distributor in a network marketing company, you may have limited control over certain aspects of the business like products, pricing, compensation plan, and other aspects of the business. This can make it difficult to build a unique brand with loyal customer base. 

The reality is that your company's management can change any aspect of the business at any time.

#5) LEGAL  ISSUE CHALLENGES.

Just like every other business, there are right and wrong ways in carrying them. Some network marketing CEOs may have the right intentions for their business but limited knowledge of how to operate it, therefore, unknowingly violating the law. 

Some network marketing companies have faced legal challenges over their business practices, such as pyramid schemes.

This might be risky and uncertain for individuals participating in businesses like this.

#6) MARKETING IS A MUST TO MASTER

while many networkers will tell you that all you need to do is use and share the product, you have to know that if you want to earn money in the network marketing business you must be a great marketer.

Marketing is a skill like every other skill. It can be learned and mastered but you must be willing to sacrifice the time for it.

Marketing includes everything you need to do to recruit or sell the product.

Discover your networking strength and learn how to market in your area of strength. 

Discover if you are comfortable building your network marketing Online or offline. 

Once you identify your area of networking strength learn how marketing is done in that area and it will be easy for you.

You may want to get a mentor or watch what other successful networkers are doing concerning your area of networking strength this will help you too.

I hope you got value from this training incase you are interested in making your first million in your business I have a coaching program that will assist you do that. If you are interested kindly join this WhatsApp group.