More and more of the youth are starting up their own business in order to find their own new source of income, away from the traditional work life. New business ventures are increasing the number of young millionaires every year and allowing people to explore new options.
Startup businesses for people of all ages are becoming the next best way to make an additional life-changing income. Especially for the youth, creating a business is a newfound discovery of wealth. Through network marketing, the youth can use opportunities via connections with friends, family, and colleagues, to make a profit.
We’ve compiled the best reasons why network marketing is helping so many young people become millionaires, what is network marketing all about, and specifically why network marketing has created more millionaires than any other business.
1. Allows the youth to easily partner with experienced veterans.
Network marketing is an open-ended business model. This style of business can allow new startups to work alongside credible and seasoned companies that have certifications and valuable advice. These companies will also be certified by the government and can provide the standards for running a business and train you on how to run the ropes.
As people of the youth, learning from experienced businesses can enable you to grow in your knowledge and experience before deciding to start off with your own business entirely.
2. Learn leadership skills and teach others to share and learn from each other.
This isn’t solely about selling — the biggest misconception about network marketing is that startups and businesses will have to sell loads and loads of product to earn a profit. Wrong!
It’s about learning from others and also passing on this knowledge to others to continue this network model. Through network marketing, businesses and startups can interact and leverage the time they worked on to share what they have learned. Individuals interested in pursuing their own businesses or selling and reaching out to the community will definitely gain valuable business experience from working in network marketing.
3. It’s inexpensive to get started.
A network marketing business can cost as little as $200 or less — maybe even free — to get started. This includes full training and a jump into the business, all included in the low, easy starter initial capital. The low initial investment is all you need to pick up a starter kit to begin selling a distributor’s products to the public.
Contrary to traditional businesses where you will need to invest thousands of dollars to kickstart your business, network marketing businesses run on the networks that they are made with, and can work with a low initial capital, which can help relieve the risks and stresses of being a new business.
4. Network marketing is not a pyramid scheme.
Many well-known and established companies use pyramid schemes to incentivize customers to subscribe to their service or products in exchange for monetary compensation. For example, Herbalife was busted in 2014 for being a mega-pyramid scheme company.
Pyramid schemes are seductive methods to having customers attract more customers through payment or promise of compensation — this is an unrecommended form of attracting attention to your business because it is unsustainable and isn’t benefiting your product’s or services’ sales. Rather, a business would be paying salespeople to recruit more salespeople in selling your product, and the numbers exponentially increase as the pyramid grows in size. This hierarchical setup is not only illegal but also detrimental to a business model because of its unethical and inorganic traffic.
Network marketing is rather a form of marketing that involves a distributor that grows organic connections in order to sell products. Some popular network marketing companies include Tupperware and Avon. The biggest difference between network marketing and a pyramid scheme is that the profit from network marketing is from selling products, while the profit from pyramid schemes is solely from recruitment.
The power of network marketing is the ability to properly leverage your time. For the youth, this is the perfect opportunity to earn a side income along with school or work and can enable you to gain more time to complete what you’d like to do in the future. Network marketing does take hard work, however, and is not the ultimate “get rich quick” scheme.
Contrary to the old perspective of network marketing as a job that requires sellers to host home parties or sell products door-to-door, network marketing has revolutionized due to the Internet. No longer does the job ask for the tireless physical asking and begging for sales; nowadays, as long as you have a computer or a smartphone, (with Wi-fi connection), you can complete network marketing from anywhere in the world.
Here are some other added benefits of network marketing:
- Time Flexibility – No restrictions on set hours for working. Network marketing works best for busy individuals who are seeking an extra source of income that can curtail to their time needs.
- Financial Freedom – Even if you’re not working, you can still generate an autonomous income through the selling and recruitment of others to sell these products for you. That’s the magic of network marketing!
- Tax Exclusion – Network marketing is exempt from taxes, which is extremely beneficial for startups and individuals who don’t want to go through the hassle and the deductions.
- Vast Industry – The network marketing industry is over $100 billion in the U.S. alone, and is rapidly expanding with the rise of technology and innovation.
- Suitable for Anyone – There’s no interview process, job application, and no experience needed. Network marketing jobs are suited for anyone interested in selling products and making money along the way. Since there’s a low initial investment, there’s no risk in trying out the job and seeing if this is something you can do for higher margins and profits.
Network marketing is the one of the best and easiest money-making avenues currently available today. For the youth, this is something you must try.