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 industry and I love the industry. The industry is still growing every year and millions of people around the globe participate in our business model.
I think the future of MLM is 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 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. Some of those business models include traditional businesses, online businesses such as eBay, affiliate marketing, freelancing, or blogging, and network marketing,
Because of our low cost barrier to entry, many people who would like a traditional business, but can’t afford it are turning to our industry to pursue their dreams. In addition, many people don’t want the headaches of a traditional business (employees, large inventory, large monthly overhead), 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 financial rut. 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 2014 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. In addition, many people are tired of hopping from job to job, having long commutes and work 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. 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 involved. This leaves them with very few choices, other than network marketing and several other home businesses.
Here’s the question you need to ask yourself. What other business model has leverage, residual income, you can get started for less than $500, not need employees, have a free mentor, work from home, start out part-time, and have no 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.
In summary, MLM will continue to grow in the future. 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!
What are your thoughts? Tell me what you think about the future of MLM! Leave a comment and let me know. I look forward to hearing from you.