If you're thinking about launching a network marketing career, there are a lot of things to consider before you take the plunge.
Network marketing offers unique business opportunities for the right entrepreneurs. But some people lack the personality and experience to be truly effective in the fast-paced and smooth-talking world of network marketing.
The people who should avoid network marketing usually don't know it's a mistake until it's too late. That's unfortunate because all they needed to make an informed decision was a little information about what to expect from a network marketing career.
Before you try to find a network marketing business to pursue, make sure you understand these common characteristics of network marketing entrepreneurship:
- Self-Direction. As a network marketer, you may be accountable to a supervisor or sponsor. But make no mistake about it – you will be self-employed. In addition to tax and payroll considerations, self-employment means that you will be responsible for motivating yourself to succeed. No one will be looking over your shoulder to make sure you're doing the work, so if self-direction isn't your strong suit then a network marketing career probably isn't right for you.
- Selling to Acquaintances. If the very thought of selling to friends, relatives, and other people who know where you live makes you cringe, you may not last long as a network marketer. Network marketing pros specialize in creating networks of business relationships and frequently rely on existing relationships to spawn sales leads or recruitment prospects.
- Shared Compensation. In network marketing, your sales commissions are shared with other people in the organization, specifically individuals who sit higher on the ladder. Although shared commissions are a common business practice, some people find it difficult to accept network marketing tiered commission plans. If it's any comfort, just remember that people who occupy lower rungs of the ladder will have to share their commissions with you, too.
- Recruitment. The way you fill the lower rungs of the ladder is through recruitment. In addition to selling your products, you will have to recruit other people to join the operation if you want to reach the pinnacle of network marketing success. Selling products is one thing. But some folks simply can't picture themselves convincing others to "join the team".
- Stigmas & Stereotypes. Network marketing attracts a diverse cast of characters. Get-rich-quick fanatics, shady players, and many others have staked claims in the network marketing world. As a result, network marketing suffers from certain stigmas and stereotypes. Even if your network marketing company is completely on the up and up, it may be difficult to convince some people that you are a legitimate business professional.