Network Marketing Review – Is Network Marketing A Scam?
From The Office Of David Wood, Attraction Marketing Coach
Attention Network Marketing Fans: Learn How I Dominate The Search Engines In Hundreds Of Competitive Niches, For Free (This Is My Secret Weapon):
What Is Network Marketing?
Network Marketing, a home based business opportunity and a telecommunications specialist has been on the internet scene for Network Marketing companies since 2001. Although the initial hype and growth spurt of Network Marketing is mostly over, they still occasionally are on the horizon with a new product innovation, or they get written up in a home business magazine of one sort or another.
Basically, Network Marketing has several communications products built around VOIP technology, a rapidly expanding division of global communications.
Is Network Marketing a Good Opportunity?
Although I have strong ties to the MLM profession, love the industry, am a proponent of every legitimate company (including Network Marketing) and have been successful building organizations all over the world – I would not recommend getting involved in Network Marketing.
Before you leap through the computer screen, ranting and raving about how great the opportunity is – let me share with you my reasons why. Also, if you are already in Network Marketing – I would encourage you to stick with it, at least until you learn how to build a successful MLM organization.
Why I Would Never Join Network Marketing:
Simply put, I would spend any significant time or energy on any company that relied solely on technology products. There are a LOT of reasons for this, but let me share my top two:
First, technology based products are great for traditional business, but not good for network marketing because of the negative price pressure of the marketplace. In other words, you could offer a service – say you have the latest and greatest new ‘magical phone’ that offers instantaneous communication across the galaxy. Let’s call this new product ‘iGalaxy’.
Well, when you first launch iGalaxy – the response is phenomenal – not only do you have the only product that offers sub-space instantaneous communications, but you have a 75% profit margin because of lack of any real competition. Because of the ridiculous profit margins, you start a MLM company and you’ve got distributors from 14 different solar systems earning $12 million a month.
The stories don’t keep coming, though, because 10 months later China decides to step into the intergalactic communications scene with a new product that behaves exactly the same – only they’re willing to get by with a 5% profit margin – making all of your customer swarm to the cheaper, better product.
To compete in the marketplace, your company reduces the cost of iGalaxy by 70%, causing a 95% reduction in your monthly commissions and…
…Presto! You’re back from square one building a new MLM from scratch. Which brings us to reason #2:
Simply put, I’ve never seen a technology based product last long term in the MLM industry – they are simply competing with market forces that pressure them out of business. Remember Excel Communications? They had some people earning some of the biggest checks in MLM history. NOBODY thought that they would ever go out of business. Yet the pricing pressure of the marketplace forced them out of business. An example of this is that the average earnings of Network Marketing representatives dropped by 50% over ONE YEAR – from 2006-2007 according to Network Marketing official income statistics.
When it no longer costs 80 cents a minute to call long distance, it’s hard to pay out huge commissions – which is EXACTLY what you see in Network Marketing - some of the smallest checks among the top earners in the MLM industry. The closest thing I’ve seen in MLM to a company that could potentially make it long term is ACN, and I’m doubtful about that.
However…
If you do want to make money in Network Marketing, realize that your ability to create a successful organization is completely independent of any company that you join. Simply put, success in MLM has more to do with who you are as a person than it does your company.
Too many distributors in MLM fail to learn any real marketing skills and as a result, they join great companies and earn dismal monthly checks that can be surpassed by getting a part time job at McDonalds…
If you want to make money with Network Marketing or any other real Network Marketing company, learn how to create endless prospects and influence offline through the power of Attraction Marketing. That way, it won’t matter if Network Marketing goes out of business or all of your distributors start earning tiny checks – anyone who is worth his salt and understands Attraction Marketing knows how to instantly create a loyal organization in any company they choose.
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