This was a hot topic that came up in a recent interview we recorded for the new Marin Women at Work podcast; and I thought it would be valuable to talk about it here as well. It’s such an interesting and important question and one that we often don’t want to answer for ourselves! So many times we are so busy in the “getting by” part of life, that it becomes comfortable. I like to challenge women to think bigger and run towards their goals and dreams, to truly get ahead and create the life they want for themselves and their families.
The podcast itself was about network marketing — the #1 resource women turn to for an additional income — but the broader question for us all is will our current job or business help get us where we want to go. And “go” meaning from both a financial and lifestyle perspective. My network marketing business is one vehicle for change, and one that I’m passionate about because of the flexibility and income potential that it offers. I really feel that it’s so important to know what options are available for us, and for our communities as well.
That said, enjoy this recap of the podcast and find out why I’m so passionate about this business model!
What Is Network Marketing Really About Anyways?
It’s actually a super simple business model! Individuals sell directly to customers. There is no retail store, it’s all word of mouth advertising. So instead of companies paying to distribute and market in stores or through online advertising, they pay commissions to independent representatives to promote and sell their products to their own networks.
The days of stocking inventory and relying on home parties are long gone. We are in the world of e-commerce now - so everything is online!
How Many Hours a Week Does Someone Need to Work This Kind of Business?
That’s one of the true beauties of this business model - as It really depends on what you want to create. I have team members that just want to pay for their personal products -- so their time is much different than someone who’s covering their mortgage or paying tuition or creating replacement / retirement income. On average, most women that are starting out are looking at 10 hours a week. (Keep in mind that this is time that you are on the phone and on your computer…..so it can absolutely be done in 15-30 minute chunks vs. all at once behind a desk or computer on someone else’s time clock!).
A great example of how we work this business on the go is that I have a team member with three young children and a full time job…..who works this business on her commute to and from work. She’s paid for private school for all three kids through this business model. Now that’s some serious leverage of her precious time!
How Much Money Can Your Really Make?
It really is totally up to you and that’s the beauty of it. We make money in two ways.
1) By selling products directly to our customers and
2) By finding and training a team of distributors to do what we do, we can expand our reach and have the leverage of many people each doing a little bit. We are not limited geographically - that’s the power of this model. It’s not location-dependent.
Who Gets Involved in Network Marketing?
The real question is who doesn’t! I have women on my team who just want a great discount on their skincare products…and I have others that are choosing to leave their full-time jobs because of this business model. I work with stay at home Mom’s, retirees looking for extra $$, business people looking to diversify, people like me changing careers at 50, lawyers, real estate agents, dentists and doctors that are tired of the grind and want to retire early, you name it, they’ve benefited from this business model. It really comes down to what do you want your life to look like, and then taking action on that vision; that’s the common thread.
What Are The Key Benefits To This Business Model?
That’s actually a really individual question as each person defines success / benefits differently.
For me, it’s given me time flexibility - something I never had in my corporate life. I can work where and when I want, there’s no glass ceiling so to speak, my earnings are up to me. I’ve been able to create what I’ve coined as a dual location lifestyle -- where I live in Hawaii part time and the Bay Area part time -- something I never would have even considered in my corporate life. I have also built a substantial residual income stream so I feel great not only about retirement, but also navigating what comes up in life day-to-day. To me that’s a huge benefit.
The bigger picture is that it’s a vehicle to create a life that looks the way you want it to - and for women in particular I think that’s something that’s always evolving. Ultimately it’s about creating choice for yourself. Whether that’s time, money, or both.
Is This a Sales Job?
Yes and no. I think ultimately everything is a sales job. I know I sell my hubs on where to go to dinner and my dog on taking a pill he isn’t too excited about. In Network Marketing, we are paid to move products, so yes, we definitely sell. However, the success comes from literally sharing products that we know like and trust. I know I do this with dozens of products every day and don’t make a commission from them… today I’ve recommended a mascara, a movie, two restaurants, a juicer, yoga pants, a food delivery service, the list goes on. We talk about what we love and what works for us. The difference here is that we make a commission from it and create a network of people that love the products, and the results they gain from them, as well.
Is That All You Do?
Yep, rinse and repeat. The model is simple. For many, the hardest part is putting themselves out there and actually talking to people. What I’ve found through this model is that my conversations, and my relationships, are much deeper and more meaningful because now my conversations are about what we’re creating in our lives - and how we can work together to achieve that. It’s very rewarding in all aspects.
What is Residual Income And How Can I Benefit From It?
Residual income is simply an income stream that is not tied to hourly labor. In this case it’s tied to a consumable product ...ie people consume it so it has to be re-purchased for continued results. So you sell the product once, and when a customer loves the product they repurchase, (and refer!) and that becomes residual income.
JB Bio: A career advertising exec, Jayne had a course correction after the 2008 recession. She sold her ad agency of 17 years, and is now a multi-passionate entrepreneur. One of the businesses she runs is a network marketing organization where she leads a team of women dedicated to improving their lives and the lives of all around them. She’s reached the top 1% of her company with no prior sales experience or experience within this industry and created a dual location lifestyle where she lives in both Sausalito, CA and the Big Island of Hawaii. Jayne believes that it’s all about having a vision for what you want your life to look like, and then implementing a plan to achieve that...and she helps her team to do the same in their lives.
If you’d like to know more about network marketing, or get my free report on how to evaluate a network marketing company and see if it’s right for you, you can reach out to me at firstname.lastname@example.org! It’s all about creating choices for ourselves, and building the life we want on all levels.