Today, I want to talk about the future of MLM, as I see it. I should start out by stating that I am a big advocate for the network marketing industry. I love the industry. It is my chosen profession, my calling in life. The industry is still growing every year and millions of people around the globe participate in our business model.
The Future of MLM: My Perspective
I think the future of MLM is very good, especially in this tough economy. More and more people are realizing that finding and keeping a good job is hard to do. People realize that there are fewer jobs to go around and even more people to compete with for those jobs.
In addition, more and more of the high paying jobs are going away and many people are under-employed, only making a fraction of what they should be making.
As a result, more and more people are open-minded to non-conventional ways of making a living (other than a job). They’re looking at different business models to find out what their options are.
Because of our low-cost barrier to entry, many people who would like to start a traditional business, but can’t afford it, are turning to the network marketing industry to pursue their dreams. In addition, many people don’t want the headaches of a traditional business (employees, large inventory, large monthly overhead, large start-up costs), so they see network marketing as a good alternative.
Unfortunately, we’re also attracting a lot of unemployed folks and financially destitute folks who are looking for magic dust to get them out of their bad financial situation. These are the folks who will try out our industry for 30 to 90 days and then say they were scammed because they didn’t make millions of dollars in a few months.
I think that MLM will continue to grow in 2019 and beyond. Even with the high failure rates, negative stuff on the internet, and the large number of new companies entering the network marketing world, we will continue to grow.
For most people there aren’t a lot of good alternatives. Even if you have a good education and lots of work experience, it’s still hard to find work that pays you a decent wage and offers good benefits. In addition, many people are tired of hopping from job to job, having long commutes and working in jobs that do not fulfill them.
Many people value the cottage industry; the ability to work from home. I can’t speak for you, but I wouldn’t trade my lifestyle for any 9 to 5 job, regardless of how much they paid me. Even though I earn less than I did when I had a traditional job, my quality of life is 10x better. No commute, no boss, work in my pajamas, wake up when I want to, etc.
While franchises and traditional businesses sound sexy on paper, most people do not have the working capital to get started. Nor, do they want to slave away at a business for 80 to 100 hours per week. This leaves them with very few choices, other than network marketing and several other home-based businesses.
Here’s the question you need to ask yourself.
What other business model offers leverage without employees or money, residual income, low start-up costs, no need for employees, have a free mentor, work from home, start out part-time, and have no financial risk?
If you can name even one other business model that offers all of these things, please tell me more about it in the comments section. I’d love to know about it.
How MLM Will Change & Evolve in the Future
Nothing stays the same forever. Things are constantly changing and evolving. MLM is no different.
While technology is constantly changing and improving, MLM will continue to be a people business. Success will boil down to the number of quality relationships you can build and maintain.
In the years to come, the biggest struggle in our industry will be people thinking they can replace relationships and connections with technology. While you can leverage technology to build your business and work smart, the personal touch is the glue that will keep it together.
Why? Because consumers have more choices than ever. They can order anything they want on their Smart Phone in just a few minutes and have it at their doorstep within 48 to 72-hours.
What consumers are missing and want is a sense of belonging and purpose. People want to be appreciated, recognized and be part of something bigger and greater than themselves. People want to be connected to other people they like, know and trust.
The successful network marketers of the future will be the people who can leverage technology AND the personal touch effectively.
In summary, the future of MLM is very good. I think so anyway.
MLM will continue to grow in the years to come. Some people will earn huge fortunes in our industry, many others will supplement or replace their income, and most will earn little to nothing. Don’t let that scare you off though.The opportunity to succeed is there if you embrace it and get to work!
This industry is a gift. Treat it accordingly.
What are your thoughts? Tell me what you think about the future of MLM! Leave a comment below to let me know what you think. I look forward to hearing from you.