The following is a guest post from my friend Michael Hale. Michael is passionate about financial freedom for all and believes that we can overcome anything. He loves to connect and meet new people. He has built a global MLM business.
I invited him to write this post, because I believe there are a lot of incorrect assumptions out there about MLM businesses. Sure there are pushy people who deceive others and make unfounded claims… but those people exist in any type of business.
I believe that for many people starting a MLM business is the best way to get started. There are many different ways to gain financial freedom by starting your own business. I hope this article helps you determine what path is right for you.
What are you thoughts and experiences about running an MLM business?
Share your thoughts in the Comments
The essence of the American Dream is to own a business. For many people it seems an elusive dream to be your own boss. Most never attempt to start a business because of the barriers to entry, specifically the need for start up capital and the need to eat while the business is not yet profitable.
Many entrepreneurs do find a way to raise the capital. They often buy a franchise or start out on their own. Entrepreneurs often overlook the multilevel marketing (MLM) industry. Let’s examine 7 reasons why MLM is a very good choice for business ownership.
- Return on Investment – Unlike most other businesses, the barrier to entry is very low. Most MLM companies allow you to get started for just a few hundred dollars. Yet you can develop a six figure or maybe even a seven figure income if you are willing to work very hard for several years.
- Low Overhead – There is no need to rent an office or store. You run your MLM business from you home. No need to hire employees, no need to make payroll, no franchise fees, no royalties to pay.
- Coaching and Mentoring – Most MLM companies have a system of coaching and mentoring. This usually involves local team meetings with training, larger seminars and conferences, and one-on-one coaching as needed. Some coaching systems also provide options for online training, as well as audio and video training resources.
- Freedom – With MLM you can live and work anywhere you want. Want to live and work at the beach? You can do that with MLM. You can live in a small town where there are few opportunities and earn a six figure income.
- Learn by Doing – You can keep you day job to put food on the table while you are gaining experience at developing your business. No need to risk it all.
- Income for Future Generations – You can’t put your job in your will, but you can put your MLM business in it. Your heirs can assume control of your MLM business, or you can sell it, just as you would any other business.
- Solve Problems for People – With any business, you must be meeting a real need people have. Most people, whether they will admit it or not, have a need for more money. Virtually every family has at least one of the following financial problems:
- student loans
- credit cards maxed out
- inadequate retirement savings
- inadequate college savings
- inadequate emergency fund
- lack of job security
If you are looking for a new business idea, take a hard look at several reputable MLM businesses. You might be surprised at what you discover.