Discover the Lifestyle Benefits of MLM
If you have been thinking of starting your own business or working from home, you might have considered network marketing. Millions of people around the world earn comfortable livings from this type of business. This type of home based business offers a variety of lifestyle benefits.
One of the most significant lifestyle benefits is the ability to earn residual income or passive income. This means that the effort you put into your business today can continue earning you money for months or even years in the future. Compare this to a standard job in which you only get paid for the hours you put in. With a standard job, if you want to earn more money, you have to put in more hours, which leaves you less time to enjoy the things you work so hard for.
Why is this a lifestyle benefit? Over time, it allows you to earn a larger income without putting more hours into your business. This means that you can have vacations, cars, a nicer home, and more discretionary spending money while still having time to enjoy these things.
Passive income does not stop with your own efforts. Many companies provide you with override commissions on sales made by people you add to your downline. This means that if you attract talented people to your business, you can earn money from their efforts even while you are sleeping or on vacation. Recruiting more people and adding them to your downline creates more income, so focusing on helping others build passive income can substantially increase your residual income for years to come.
While the principles of network marketing remain the same in nearly every business that follows this model, there are companies that offer a wide variety of products and services you can provide to friends, family members, and business contacts. No matter what you want to offer to your prospect list, chances are you can find a business opportunity that is right for you.
Choosing a business that is aligned with your objectives allows you to find a product that you believe will benefit people around you. For example, if you are passionate about skin care, you can join a company that offers products designed to help your downline members enjoy healthier, more beautiful skin. Likewise, if you enjoy helping others enjoy increased energy and vibrant health, you can find a business opportunity that offers personal wellness products.
Personal freedom is an important benefit for many people who choose to begin a network marketing business. Although you will have to make and keep appointments with prospects and downline members, you can set these appointments around your other obligations.
The ability to set your own schedule allows you to tailor your work to your life instead of having to manage personal obligations outside of a traditional work schedule. This means that you won't have to worry about a boss telling you that you can't keep a doctor's appointment or other commitment because you have to be at work.
Personal freedom is particularly important for network marketers who have young children. The rising costs of daycare can be difficult for traditional employees to manage. In addition, you may not want to trust your child's well-being to strangers for several hours each day. Choosing this type of business can allow you to spend more time with your children instead of sending them to a daycare facility each day while you go to work.
The flexible nature of this type of business also allows you to schedule time off when you need it instead of having to rely on a boss to approve vacation or personal time. If you have the income to support six vacations each year, you can simply elect not to schedule appointments during your vacations.
Working from Home
Another attractive lifestyle benefit of a networking business is the ability to work from home. If you have a personal computer, a telephone, and a spare room, you can manage many of the functions of your business from the comfort of your own home.
By working from home, you will save money on commuting costs, Also, you won't have to spend hours on the road each week traveling to and from a brick-and-mortar job. Of course, the ability to work in a t-shirt and sweatpants is another perk of the work at home lifestyle.
When you work from home, you may also enjoy tax benefits that help you keep more of the money you earn. For example, you might be able to deduct a portion of your mortgage interest, utilities, and home maintenance costs from your federal tax liability. Also, you may be able to deduct costs directly associated with your business, such as paper, toner cartridges, work-related mileage, computer purchases, and telephone costs. Contact a tax professional to ensure that you receive the maximum tax benefit from your business efforts.
Network Marketing companies commonly offer a variety of incentives to marketers who achieve certain sales goals. For example, you might earn a monetary bonus when you add a certain number of people to your downline. You might also earn a vacation when you meet a particular goal.
Incentives can also include conferences in desirable locations such as Fiji, Hawaii, and Las Vegas. Top performers may earn invitations to these conferences and may also earn airfare, free hotel accommodations, meals, and outings. The ability to enjoy relaxation time in these locations can give you the opportunity to have experiences that most people never get to have.
Some companies also offer other prizes as incentives. For example, you might win prizes such as laptops, tablets, cell phones, or portable digital music players.
Although network marketing / MLM as a home based business involves quite a bit of hard work and patience, the effort you put into this business can provide you with a variety of lifestyle benefits you can't obtain from a traditional job.