If you’ve talked to a small business owner in the past 12 months, you are probably aware of the concern, stress, anger and fear they are feeling. Many have poured their whole life savings into their businesses, and they can’t imagine what will happen if they fail. Not only are the financial pressures mounting, the time freedom they dreamed about when they started is a distant fantasy because they are now working overtime to make up for the employees they had to let go.
Like it or not, our economy is shifting. In order to take advantage of these new opportunities, savvy entrepreneurs are looking for three main criteria when starting a business:
1) Start-up costs that are affordable without a loan.
2) Hours that are reasonable and flexible.
3) Earning potential that is unlimited and residual in nature.
It’s quite obvious that entrepreneurs don’t go into business for themselves to work longer, make less and go into more debt; but for some reason, this is exactly where many of them end up. Today’s entrepreneur is looking at network marketing as a way to avoid the pitfalls of a traditional small business.
1)Low Start Up Costs – For those who can’t get or don’t want business loans, network marketing is the answer because it typically costs between $300 and $10,000 to get started. Most people can afford this with the help of savings or credit cards. Students, Stay-At-Home Moms, Retirees and those looking to start a home based business part time can all see the value in this low cost way to start a business.
2)Reasonable and Flexible Hours – Entrepreneurs like freedom and the ability to be their own boss. The problem is that most small business owners end up working twice the hours they would have worked in a traditional 9 to 5 job. Today’s entrepreneur is serious about quality of life, and Network Marketing is truly flexible; especially with internet based opportunities. You can work anywhere and anytime. In most cases, a 4 to 6 hour work day is sufficient once the fundamentals of your business are in place.
3)Residual Earning Potential – It is a fact that you can’t become truly wealthy unless you have a residual or leveraged income of some kind. Example: it nearly impossible to become wealthy as a real estate agent. You can make a lot of money, but wealth is in a different league. However, if you become a broker and have 50 agents working under you, wealth becomes much more attainable. If you sell insurance, you don’t create wealth with the commissions you earn each year; but you could create wealth with the residual checks from years and years of policy renewals. Many entrepreneurs have abandoned traditional small business ideas for network marketing because it offers leveraged income opportunities.