Just like in any industry, network marketing has its pros and cons. In order to find your way in this industry, it is important to know both the pros and cons. Why? Because then you are fully aware of what you have chosen. After all, you can’t start with something if you’re just going for the benefits. Below you will find the most relevant advantages and disadvantages of network marketing so that you know that you have made a well-informed choice for this way of working.
Benefits of Network Marketing
You can achieve success without education, if you do it right it can give you a good stable income. In most professions that you practice, you are expected to have diplomas and they would like you to have work experience. That is not the case here. Because you work with people, it is important that you get along well with people. You will have to talk to them. The better you get at this, the more successful you can become. You do not need diplomas for this. If you do it right, it will give you residual income. This can lead to financial independence.
You decide when you want to work and how much you want to work, which is not possible with other types of companies. When you work for a boss but even if you have your own company it is not always possible to determine when you want to work. Because you now want to build something at your own pace next to your work or study, you can indeed set your own pace. No one can do that for you. It means that no one determines what you do for you.
Special training requirements and major financial investments are not required. As we said before, diplomas are not required. Anyone can start with network marketing regardless of their work experience or background. Your background or experience can be an advantage for the necessary skills that can bring you faster success in network marketing.
You can support, help and motivate the people you have attracted, increasing your profits. You yourself have influence on your team and can help and support them so that they feel motivated to grow, which can also work out in your favor.
You can gain a lot of marketing knowledge and sales techniques, you also learn a lot about personal development. This can help you build your team and increase your sales revenue.
Disadvantages of Network Marketing
An unstable income; because, especially in the beginning, your income depends on the sales you make and you have not yet built up a large sales team, the income can in principle be disappointing. That’s why there isn’t a stable income stream yet. This has yet to be built.
You can get high moral stress, constant pressure from customers; It can happen that when you create customers they hold you responsible for things that don’t go well. This can cause pressure. People can also experience pressure from their environment because of the negative thoughts that some have about network marketing.
You need to have a high level of responsibility for those involved. When one builds a team of fellow salespeople or representatives.(begrippenlijst?), one feels a responsibility to help these people to success. This takes time and effort. These people depend on you as a leader to
As in any other type of business, there is a certain amount of risk in network marketing. Depending on the initial investment, it is possible to turn a loss if one would not earn anything. That would mean that one incurs more costs than one earns. This can happen when one does not undertake sales activities that yield results.
Improper approach to newcomers to this company leads them to fail in the first months of their work. This is a real event as many newcomers are often led by their enthusiasm and thus disregard the warnings given to them by their sponsors.
There is a risk of disrupting relations with relatives and friends, if you have attracted them to this company and for some reason do not achieve the desired result. You may be accused of fraud or guilty of their loss.
To really pick a perspective direction for network marketing, you have to work hard. This is often underestimated because it is too often assumed to be a get rich quick method.
These are the things you should be aware of when starting with network marketing.