Most people are looking for a little more income these days. Those who relied on overtime to pay down bills are now glad to have a full time job. It simply does not make sense to get a part time job, because most of them only pay $9.00 per hour. That is only $36.00 for another half a day of work and it’s less after taxes. It hardly seems worth it.
Many are discovering the power of owning a part time business. There are substantial tax savings for business owners. Check with your tax preparer for details. But you may be thinking that you don’t have time to get a new business off the ground. Don’t they typically take years before they turn a profit? Yes, unless you join a company that has an established product or service with adequate market demand. You will find many of these companies when you investigate Network Marketing.
Network Marketing is much like the old co-ops, which were started by farmers. It was too expensive for a small farmer to own a large warehouse, so they pulled with other farmers and worked together. Everyone benefited because of the combined effort. You can make profits by only working 10-15 hours per week with a Network Marketing company. You can work by yourself or you can recruit others to join with you. You will help train and encourage them, and the company pays you a bonus on the work they produce. Many have produced more income form their part time business then they make at their full time job.
Passive or residual income is an important consideration when choosing a company. passive income is when you make one sale, but get paid over and over again for that sale. This happens when customers reorder or continue paying for a service year after year.
Here are some things to look for in a Network Marketing company:
- Two or more years in business. Network Marketing requires a large volume of cash to operate and pay everyone. During the 1980s, Texas Instruments decided to market a home computer through Network Marketing, it was called Tronics. The division went bankrupt within two years because Texas Instruments was bleeding cash and could not keep up with product demand.
- Evaluate the market demand. Is anyone else providing similar products or services? Search Ebay and Craigslist to see if you can find products discounted. This is a bad sign.
- Is the company selling something that will continue to be valuable for years to come, or is it a fad like the pet rock?
- How easy is it for someone to reorder? When someone runs out, how long does it take to get more? If it takes too long, they will buy something else at the local store.
- Does the company have a good reputation or do people run in fear at the mention of the name? Amway is one of the oldest Network Marketing companies in the country, but their reputation has been damaged by aggressive recruiting techniques. They are now spending millions of dollars to rebuild confidence in their name, but it will take years.
- Go with a company where distributors do not make money by recruiting someone. They should only be paid if someone purchases products or services. Otherwise people will simply concentrate on recruiting rather then training and selling product.
I am involved in a company with a strong history and very little competition. If interested, you may E-mail me for more information.
Ken Bear Cole