Baby Boomers Short on Cash for Investments Evaluate Other Options
Boomers are Finding Creative Ways to Supplement Their Retirement – Part II
So you took your time and looked at the franchise options available. Maybe you even found one that looks really good. Now comes the scary part – the franchise you’ve chosen requires a healthy investment, let’s say somewhere between $10,000 and $100,000.
What if it doesn’t work?!
You have a friend who’s just gotten involved in a network marketing business who tells you about all the people he’s met who are making gobs of money. The investment (from as little as $10 to about $500) to get started is a lot easier to handle than the investment for the franchise and it sounds like a good product/service.
What if it does work?!
But network marketing? Isn’t that a scam – a pyramid scheme? What will my friends and family say? When it comes to advice, you can pretty much divide folks into three groups;
1) those who have never done what they’re talking about, but have “heard” all the reasons why it doesn’t work, 2) those who have tried it before and failed – and, of course, if they weren’t successful, then you couldn’t possibly make it either, and
3) those who have done it and succeeded.
Now think about it, if you’re researching a subject, who should you listen to, the person who has gotten the results that you would like, or someone who has never done it or tried and failed? So before you close the door on network marketing as a viable option, let’s take a look at “Old School” network marketing vs. network marketing in the age of the internet.
Old School Network Marketing If you’re familiar with the early days of network marketing you know that the way to make this marketing model work and keep the investment affordable was to use “word of mouth” advertising.
The new recruit was taught to first invite friends, family and neighbors to their home to take a look at their new business. Some were trained to just invite people over and tell them little or nothing about the purpose of being there – others were more forthcoming, but not much.
Maybe half of the people invited showed up, and of those, some saw value in the product or service and supported the budding entrepreneur by making a purchase. Others, who might have had an unfulfilled dream, may have seen the possibilities and decide to get involved in the business. And, of course, there was probably someone who scoffed at the whole idea saying something along the lines of, “You must be crazy to believe that’s going to work!”
Aside from the potential for anything from part time income to financial independence, the thing that attracts most people to network marketing is ability to dust off dreams that have been tucked away and almost forgotten. For the average American there’s more month than there is money.
The very idea that you could live a lifestyle that had been reserved only for the very wealthy – doctors, lawyers and owners of traditional businesses – with only a minimal investment, determination and the desire to help others achieve their dreams along with you sounds almost too good to be true. Yet it’s happening to more and more average people every day.
The New Network Marketing Model
It used to be that marketing methods used in traditional business models were just not affordable to someone in network marketing. The “key” to success in network marketing (also known as multi-level marketing or MLM) is duplication.
Today, there are so many FREE sites available via the internet, that a person who is willing to learn the marketing skills necessary to use internet network marketing can produce tremendous success in almost any network marketing venture.
In the new network marketing model, you learn to attract people who want what you have to offer. You become a provider of solutions to the problems that people are having today.
You learn to build your credibility ranking so that instead of chasing after your friends, family and even total strangers, you have people asking to join your team.
If this sounds to you like a better way to build a successful home based business, check back for future articles, where we’ll discuss the New Network Marketing Model in more detail.