Good Bad and Ugly in Network Marketing – How Some Trash the Profession

Welcome to the Street Smart Wealth Podcast, show #110.

There is no doubt that there are lots of opinions about Network Marketing out there. Some good, some bad and some ugly.

On today’s show, let’s get into why exactly there are so many opinions about Network Marketing out there and some things you’ll want to know if you are just getting started and how to have conversations with others when some of the “bad and the ugly” concepts come up!

SPONSOR

Are you looking for coaching to be successful in your Network Marketing business? Want to also learn how to generate your own leads online? My Inner Circle Coaching Program may be just what you need. Learn more at – JackieUlmer.com/coach

iTunes Show Review Shout Outs!

Shout out to Dale Callahan, who writes - All those people I know doing network marketing and making nothing happen should be listening to this. Common sense advice from someone who knows how to make it happen!

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The Good Bad and Ugly in MLM

1. Start your own business for less than $500 typically.

2. Learn great business skills, if you will be coachable and apply them. Sales, marketing, networking, communication, leadership and certainly plenty about your own strengths and weaknesses.

3. Passive and Residual Income – understand the difference. Residual is recurring, month after month, passive is what you make without doing much for it. Builds over time,

4. Tax advantages, if you run your business right. This is one huge benefit most people don’t get and don’t take advantage of.

Learn more about Tax Saving Strategies from SANDY BOTKIN

5. Personal growth, stretching yourself.

6. Business you can will, sell and pass on in most cases.

7. Fabulous income potential.

The Bad Side of Network Marketing

1. Simple business concept and simple to do – not easy. This is largely due to mindset.

2. In the past, it has been associated with “get rich quick schemes.” Not by the company itself, but by crazy reps, who don’t get it.

3. Often attracts the wrong type of people – those with a lottery mentality.

4. Most people will quit after talking to no one, or maybe just 2 people or within 60 days. There is a reason we say it is a minimum 2-5 year plan

5. It takes a serious focus and commitment.

6. Low cost of entry – sounds funny to be listed as both good and bad, but because it is low cost, people quit easier and figure they’ve just lost some cash.

7. You still don’t TRULY own a business – your company does. And, you are at their mercy.

The Ugly Side of Network Marketing

1. Those who promise get rich quick – here are some things that you might see or hear –

2. No selling

3. Never talk to anyone

4. We do the work so you don’t have to…

5. Many people who quit never take personal accountability and responsibility – they just go out and bash the network marketing profession.

6. Frontloading by some

7. Most people will never make a dime and will feel they “lost money.”

Here’s the bottom line – if you truly want freedom and lifestyle, and are willing to actually follow a system and do the work, you can have what you want. And, it might just be the perfect fit for you.

If you are someone who is overly concerned with what you PERCEIVE that others may think of you, it’s going to be a long, tough road full of frustration and it may not be for you.

If you are way too caught up in the “ugly” side of things, it may not be for you. Everything negative that is said about the network marketing profession has a solid explanation. Yes, there are bad people out there in our profession, just like any profession.

Show me any business that doesn’t have this.

If you decide MLM is for you, don’t use the bad and ugly as a crutch or justification for why it won’t work for you.

ACTION STEPS

1. Get clear on your own mindset around network marketing.

2. Surround yourself with the type of people within MLM who you want to emulate; who you trust and want to be around.

3. Do some inner soul searching – are you like me? Driven to be one of the 3%, and then 1% and then even 1/2%?

4. Put your blinders on and get to work!

Learn more about building an effective Network Marketing business both online and offline in my Direct Sales Online Coaching Program!

Has this show helped you? Tweet me – @jackieulmer and if you have a question for the show, add the hashtag #JackieUlmer

Good luck in your business

Do you have a question? Ask it at JackieUlmer.com/questions

Until next time – remember this – Hesitation Never Cashed a Check!