Here’s a Quote from Forbes Magazine:
“At some point in your life you’ve been pitched a multi-level marketing (MLM), direct selling, or network marketing business opportunity. While the pitch varies from company to company, it basically promises a chance to ditch your 9-5 work schedule, be your own boss, and make lots of money while making new friends in the process.”
The Wake Up Call
Sound familiar? Of course it does. But here’s the issue. While 99/100’s of your being said “nah”, the other part was wondering “Is there really anyone normal who’s done that ?”
The answer is NO. There. Feel better? No one normal has made a six figure income in network marketing . But a whole truck ton of extraordinary people have. People who didn’t care what everyone thought. People who started out just like everyone else but persevered or found out something most people miss: that leverage is UNBELIEVABLY POWERFUL.
Back to Forbes
Here’s them again: …”I believe that the entire industry is poised for explosive growth and can be one of the most significant solutions to America’s current retirement savings crisis.”
Did you know the AARP estimates that half of all baby boomers (76 million people ) are interested in starting a business and the makings of a massive trend are in place ? Hmmm…
As far as the retirement saving crisis is concerned, more and more people are coming to terms with the fact that they probably aren’t going to be able to save enough money to just sit around and slowly deplete their nest egg from age 62 to 100. With the average 50 year-old estimated to have less than $50,000 in retirement savings, there is an obvious need to find alternative ways to either save more or generate supplemental income starting now, and continuing throughout retirement. Moving beyond just the dollars and cents, boomers are growing tired of feeling guilty over their past savings habits & are interested in moving towards possible solutions.
Another growing reality that could benefit MLM and related businesses is the increasing number of baby boomers who are disenchanted with their current careers. They’re worn-out from years of the corporate grind and don’t feel the connection between their job and the people it impacts outside their office walls or company grounds. They’re shifting their focus from accumulating a giant nest egg to a desire to be part of something bigger and better… to have a positive effect on others… and working in retirement. Facets of life that can be fulfilled with specific types of products and service available through some MLM or Direct selling opportunities.
Recommended by Forbes
MLM and direct selling programs also offer very low barriers into entrepreneurship, often providing training, support, and ample encouragement along the way. As retirees begin to realize they need activities that keep them busy, relevant, in good health, and connected to others, the time, energy and cost to participate in these kinds of companies make them very appealing to large segments of the population caught up in these dynamics.
This is not a ringing endorsement for the entire industry. Like any investment of time, money, and energy, people need to be aware of what they are getting into and do their homework. The primary beginnings of researching on the topic consisted of reaching out to regular everyday people involved in these types of businesses & who were willing to skip the hype and offer a transparent view of the programs and give their opinions as to whether this can be a realistic source of retirement income.
Most use the extra money they earn for things like travel and spoil the grand kids.
“Having studied the psychology and behavior of boomers, this example represents a major shift in my thinking about the industry. I no longer perceive these types of opportunities as money-making pyramid schemes. Instead, I now see it as a way to enhance many of the personal aspects of retirement that are rarely discussed let alone planned for, with the added benefit of supplementing other popular retirement income sources such as pension and social security.
Daria M. Brezinski Ph.D, a practicing psychologist and former marketing director for a multi-level marketing magazine, cited quotes like ‘I’m doing this because I’m meeting amazing people … making so many connections … and I feel so good about myself.’”
Dr. Brezinski’s point is well taken and easy to see practiced by popular network marketing companies. Many MLM and NM companies tout a three-to-five year plan to attain freedom and wealth, yet many of the people running company meetings have been in the business for five or ten years and still haven’t left their full-time job or landed on easy street. “As it turns out,” Dr. Brezinski notes, “when other human needs are being met, the members and consultants don’t focus solely on the financial aspects.”
It’s always recommended to keep your current job while making the transition into MLM. Even if you’re ( heopfully ) able to replace her full-time income but explains, It doesn’t happen overnight. It takes discipline and you have to treat it like a business.
Tracy Willard of California began her MLM career out of necessity. “Prior to getting involved in my business, I told my friends to never let me join one of those things… but when our family was hit by the mortgage crisis I had to do something different.” She started her business with the intention some retirees may also find themselves. “I started with the idea that I just needed to make my month easier. My company helped me figure out what I needed to do in order to make an extra $500 per month.”
She reiterated a common theme I heard throughout the interviews. “If you treat it like a hobby it won’t pay you like a business.” She also acknowledged that, in spite of her success, she doesn’t sit around eating bonbons every day waiting for residual checks to hit the mailbox. “That’s a common misconception,” she said. “I work hard at my business every day, although it doesn’t always feel like work. Similar to other entrepreneurs who profit from their passion, she says “It’s rewarding because I found a product that has made in difference in how I look and feel… and I love selling it and helping other people start a business.”
Some people, like Staci Cahill, runs their company in a way many people can appreciate- keeping a personal life separate from business life; avoiding home parties,instead opting for workshops that educate prospects on the products she offers. “I didn’t want to be that person others hid from because they thought I was going to ask them to host a party. I like to keep my business life and personal life separate.” ”
Success Comes from What ?
Finding value in waking up and going to bed knowing you can change the lives of others.
Here’s how the article concluded:
“The interviews and psychological connections lead me to conclude that Network Marketing companies, along with other small businesses opportunities, are important considerations for anyone entering retirement. In fact, many believe the concept of starting a business for retirement income will become one of the most significant trends impacting retirement in the 21st century. It has to start with redefining entrepreneurship and framing it into a retirement lifestyle. That means helping people find ways to turn a passion, hobby, or personal desire into extra money in their pocket… not to mention helping people see the importance of planning for the non-financial aspects of retirement such as replacing a work identity, staying relevant and connected, as well as keeping mentally and physically fit.”
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