A popular question I receive as not only an entrepreneur, but as an influencer is what do I think of Network Marketing. Or MLM.
I like to respond to this by starting with the fact that whatever my opinion might be, Networking marketing as an industry is unquestionably successful. And like any industry, some companies thrive and some die.
To be transparent, I tried several MLMs in my 20’s and I failed. Not that I did not recoup my own money, but the companies failed and I lost credibility with my downline and I was too immature to be persistent and stay in the industry and keep learning. I quit. And like many, it left a sour taste in my mouth.
With that said, today I have many very successful friends who make 6-figure incomes in MLM and some really do it as a side income. Yeah, 6-figure side income is possible.
Here is one beautiful thing of a quality MLM. They do all the product development, marketing materials, accounting, order fulfillment and most customer service. All one has to do is recruit and sell. That is why it can truly be a side business.
If you owned a company, you would be responsible for all those tasks and that is why business owners work 100+ hour weeks in the early years of their business.
Now, to answer the question.
Personally, I have grown to love being a business owner. I love owning all those tasks and building my own team, similar to how the corporate part of MLMs companies work. I do not simply want to represent a company, make sales and recruit other sales people. That is not my passion.
With that said, I would encourage anyone to try working in the network marketing industry. At a minimum, you will learn about relationship selling, building a brand, surround yourself with like-minded individuals, and have the opportunity to build a great income without all the risk of starting a business.
This can also prepare those that have the aspirations of building their own company some day.
I could write a novel here, but this is the high level answer I give when asked.
The lesson is this: Regardless of whether I personally believe in something doesn’t mean that business or industry is not a great opportunity. That is the beautiful thing about life. We all choose our path. And if Network marketing is your, I say be the best you can be.