Network marketing has many ways it can create great value for you. Network marketing is, at its core, a relationship business. It’s not a business that revolves around making sales; it is a business that revolves around making connections. It’s about establishing relationships, coaching and training, and teaching and mentoring. The actual day-to-day work of building a network is less like carving out a sales territory than it is like building a community.
What People Need
People really need to learn how to build their own wealth. A young journalist approached me a few years ago and said, with obvious passion, “We have to make women aware that they have to take charge of their money. They cannot depend on someone else to do that for them!” As we talked together, I soon learned where her passion was coming from. It turned out her 54-year-old mother had recently moved in with her after going through a divorce that had left her with basically nothing. She was now supporting her mother as well as herself. That was enough of a wake-up call in itself, but what had really shaken her up was when she took a close look at her finances to see what resources she had to support the two of them. She realized that if her steady paycheck were for any reason to stop suddenly, the only thing she had to fall back on was about $7,000 in savings. For a household of two, $7,000 wouldn’t go very far. She and her mom were both a few thin paychecks away from poverty and even homelessness. No wonder she was passionate about the subject of women taking control of their finances!
1) The Statistics
The statistics about women and money, in particular, are startling. The following are U.S.
statistics, yet for other countries throughout the world, the statistics are very similar or are trending in the same direction.
In the United States:
47% of women over the age of 50 are financially responsible for themselves.
Women’s retirement income is less than men because as the primary caretaker for the home, a woman is away from the work force an average of 14.7 years, as compared to 1.6 years for men. Add this fact to the lower salaries women still receive, and you have retirement benefits that are only about one-quarter those of men. (National Center for Women and Retirement Research—NCWRR)
Women are expected to live and average of seven to ten tears longer than men (Ann Letteeresee, June 12, 2000), which means they must provide for those extra years. However, married women who are baby boomers can expect to outlive their husbands by fifteen to twenty years, on average.
Of the elderly living in poverty, 3 out of 4 are men. (Morningstar Fund Investor)
Approximately 7 out of 10 women will at some point live in poverty. What do these statistics tell us? That more and more women are not educated or prepared to take care of themselves financially, especially as they grow older. We’ve spent our entire lives taking care of our families, but have no ability to care for ourselves in this vital way.
2) Avoiding Dependency
You don’t get into a marriage expecting a divorce. You don’t begin a new job expecting to be laid off. But it happens, and today with more and more frequency. If you are depending on a spouse, a boss, or anyone else for your financial future, think twice. They may simply not be there. Too often, we may not even realize just how dependent we are until we’re faced with our own personal wake-up call.
3) No Glass Ceiling
Along with all the challenges facing the corporate employee in this post-2008 world, we all still face one additional, huge obstacle: the infamous “glass ceiling.” And for women 50 or older, trying to re-enter the world of corporate employment? You don’t even want to know. In the world of network marketing, the very idea of a glass ceiling is ludicrous. Your network marketing company doesn’t care if you’re female or male, black or white, a college grad or a high-school dropout. It only cares about how diligently and effectively you build your network—and as I pointed out, there are four times as many women as there are men doing exactly that.
The key is your skills, education, and experience. There are no limits and no ceilings, glass or otherwise, for women in the world of network marketing.
4) No Limits on Income
Because of the glass ceiling and the still-present wage inequality between men and women in the job market, people are often limited in the amount of income they can make. But a network marketing business is fully scalable. Regardless of gender, in network marketing, the size of the income stream you can generate by building your network is without limit.
5) Increased Self-Esteem
Being dependent on anyone for your financial life can lead to a reduced sense of self-worth. You may do things you otherwise would not do if money were no issue. I’ve seen people’s self-esteem soar once they know how to make it on their own financially. Higher self-esteem leads to greater success, which ultimately leads to the greatest gift of all—freedom.
6) Control of Your Time
When it comes to devoting energy to building genuine wealth, one major impediment people often have is the simple matter of time. I hear often “After I come home from work, I have to get dinner ready, help my kids with their homework, and clean up the dishes. By the time everyone’s in bed and I have a free moment to myself, I’m exhausted!”
As a network marketer, you are in control of your time. This business is something you can do part time or full time. It is something you can do from your home, on the phone and computer, in the evenings, weekends, anytime, anywhere. It is a business that can travel with you, that you can keep in your pocket, and that you can engage in half-hour increments, if that’s what your schedule and circumstances dictate.
Wealth-Building Is a Necessity
These six reasons support why people so strongly need to learn how to build their own wealth. The statistics prove how much times have changed, and point out that our need for real-life financial education is no longer a luxury; it’s a necessity. Depending on someone else for your financial future is like rolling the dice. The reward may be there in the end, but the risk is steep.
Create Your Wealth … and Have Fun Doing It
Regardless of what that compelling reason is, you have to remember one more thing when starting a network marketing business, and that is to have fun. Yes, it’s great to think that you can earn an extra $100, $1,000, or even $10,000
a month, and that you can avoid dependency and have control of your time, but if you are not having fun, it can quickly lead to that same rut many find themselves in out in the corporate world. Simply put, you have to be passionate about what you do; the lack of it will reflect in your bank account.
Interestingly, during turbulent economic times, the industry continues to fare well. In fact, this is one reason the network marketing industry as a whole is such a force to be reckoned with. With an annual global wholesale revenue of $182 Billion (2015).
What’s the message here? Network marketing companies offer a low-risk, highly rewarding opportunity for anyone looking to take charge of their financial future..
Know What’s Important
I hear people all the time say they are too busy to get involved in a part-time home-based business. I tell them, “Here’s the key to making your business successful: You have to look at your life, really look at it, and ask yourself, ‘What is it that is so meaningful to me that I have to have it in my life?’ What is important enough to you that you’ll make the time and devote the effort to building a business that generates its own income, and then use that income to build wealth that will take care of you for the rest of your life? Because if you don’t identify what that is, it’s just not going to happen.
Freedom is different for everyone; success is different for everyone. It’s personal, and it should be personal. Numbers are abstract; whether it’s five thousand dollars or one million dollars, it doesn’t really mean anything until you give it the meaning it has in your own life. You have to go out there and make things happen. And the only way you are going to do that is if you know what is really, truly important to you, and you realize that the only way you are going to have that is to create it yourself.