If you've ever heard of Network Marketing (NWM) or Multi-Level Marketing (MLM), you've probably heard it said that it is essentially a people's business. Some have also labeled it a people's franchise because of the similarities between the business models of network marketing and franchising. Advocates of the industry name it as the ultimate people's business and say there is nothing quite like it. People that are in network marketing will immediately respond positively to this.
One of the unique characteristics of the network marketing type of business is that every individual distributor is in business for themselves but never by themselves. They will always be part of a larger organization and the compensation models are designed in such a way that every person can count on some form of support from their upline.
It is no secret that fortunes can be made in this type of business and many have done just that. Of course this is not the majority of network marketers, but every individual distributor does have the same chances. Success or failure in network marketing is not dictated by politics, race, age, background or gender, but always by results. In that respect it is probably also the fairest business model in the world.
For many people however the true value of their home based business is not directly in the financial return. The lessons a person can learn while building his or her own network marketing business are truly priceless. Many people are totally transformed through the personal growth they experience as a direct result of their challenges in their MLM businesses. It forced them to get out of their comfort zones, grow, and in many cases become a better person.
So what is so unique about network marketing in this respect? Doesn't every entrepreneur have to deal with challenges? The answer of course is: Yes, they do. And they also experience personal growth as a result from this. However there is a significant difference. Most entrepreneurs are self made and many of them learned their trade largely outside of formal education. Either they were taught by a family member, a mentor or perhaps they learned everything the hard way: by trial and error. Very rarely will you find an entrepreneur that has an extensive library of books and tapes on personal development. Most businesspeople don't attend seminars and motivational trainings. They think it's all a bunch of hype. While in some cases this can be true, there are many trainings and seminars that teach the principles of success better than any textbook found in business schools.
One of the great things about network marketing is that this type of education is built into the training systems of all good companies. There is no business on the face of the earth that places such a strong and direct emphasis on the importance of personal development as the network marketing industry. Many companies might argue that they spend a great deal of their budget on education; training employees and as such assisting them in personal development but in most cases what they are actually talking about is personnel development. Although the words are almost identical, their meanings are vastly different.
Network marketing is all about building people. It is probably the best school on the planet if you want to learn about what it takes to be successful in life and you don't need rich parents or some kind of scholarship to enroll.
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You may already now would like to start your business in Network Marketing, here are two ideas for two total different interests, both with a sophisticated business concept and very lucrative compensation plan.
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Direct selling is usually associated with party-plan and network marketing companies. Although these companies use direct sales, they are not the only ones. Many businesses that sell business to business (B2B) use direct selling to sell to end customers.