With corporations laying off hordes of workers, it makes one wonder when the economy and job market will improve. Both are terrible right now. National unemployment is gradually approaching 10% and could peak out over 11% next year. The number of people out of work is at a multi-decade high.
But despite the dubious statistics, people are still starting businesses during this recession. While many may tap into 401-K accounts to finance their business or buy a franchise, there are still some businesses that require very little in start-up costs, such as network marketing.
The start-up expenses for a network marketing businesses are relatively small compared to a traditional business or franchise. You can start your network marketing career for under $100. Many require that you purchase the product on a monthly basis while you recruit other members.
Most network marketing pay plans allow you to earn a percentage off those you recruit. Some pay plans are multi-level, while others use one or two-up pay plans. This means that you simply give up your first sale or two, respectively, to your sponsor. The pay plan is an important consideration. Multi-level marketing plans typically earn you very little at first then grow exponentially as you recruit more people. The one and two-up pay plans can get you into profit quicker.
When selecting a network marketing opportunity, you should look closely at both the pay plan and the products you are marketing. If you are interested in nutritional products, there are a ton of good companies out there with excellent products. If you like more technical products, information or low-cost health insurance, one of these may best suit your interests.
There are a number of ways to find good network marketing companies. You can search the internet for them. One of the best network marketing publications is "Home Business Connection." You will find hundreds of network marketing opportunities in this magazine.
Despite low start-up costs, network marketing businesses require some up-front capital. Most of your expenses will be allocated to marketing your business. There are a number of ways to promote a network marketing opportunity. The low-budget approach is to acquire a phone list and cold-call your prospects. Other ways to promote your business are through postcards, direct mailings, advertisements and card decks.
Network marketing can be a lucrative career choice, but you must be prepared to work extremely hard in the beginning to get your business off the ground.