Today’s post is about when to go full-time in network marketing. In other words, when should you quit your day job or traditional business and just focus on growing your network marketing business?
As a quick disclaimer, I should tell you upfront that this is a personal decision and everyone’s situation is different. What works for one person might not be good advice for someone else. Ultimately, only you can decide what is best for you.
My goal today is to simply give you some tips and insights so you can make an informed decision about what is best for you and your family.
When to Go Full-Time in Network Marketing
Choosing if/when to go full-time in your network marketing business is a HUGE decision. Don’t take it lightly or rush into it. There are many six figure earners in our industry who still work their day job, because they love what they do for a living and/or they have no desire to go full-time in their network marketing business. Don’t feel like there will come a point where you HAVE to go full-time in your MLM Business.
I can’t speak for you, but creating a $1k to $5k per month residual income on TOP of your job income would drastically improve most people’s standard of living and quality of life.
What do you think? Would it help you?
From the people I’ve interviewed, going full-time in network marketing too soon is a CURSE, not a blessing. It’s a common mistake that a lot of “newly successful” distributors make.
They get so excited about their MLM Business, and their future, that they don’t look at things objectively. They rush into decisions that hurt them later on down the road.
When you go full-time in your network marketing business too early, you put way too much pressure on yourself to perform, financially.
Most people think that if they have more time to focus on their network marketing business, their income would grow. That’s not necessarily true. Just because you have more time to do something doesn’t mean you will be more productive or get better results.
It’s how you spend your time that matters most.
Success in this industry has NOTHING to do with how many hours you work your business, and everything to do with the number of contacts and exposures you make. Someone working their business 1 hour per day can easily outperform someone working 8 hours per day, if they make more exposures.
In addition, there’s actually a beauty in doing this business part-time. For one thing, it forces you to work smart. You have to be disciplined with your time. You have to balance your job, family, hobbies and business all at once.
Another great thing about working your business part-time is your story. When you can tell someone you make $10k to $30k a year part-time, that is a much better story than making that same income full-time.
Also, I had a mentor tell me once that earning $24k per year in network marketing part-time is better than making $100k per year full-time. I have to agree, especially when you break it down into an hourly wage.
Many top earners are working 80 to 100 hours per week just to maintain their business. If you broke that down into how much they made per hour, you would see that working the business part-time would have been a much better option (earnings per hour).
In my opinion, I think it’s best to go full-time in network marketing when your monthly earnings with your MLM Business (net) are at least two to four times your job income, you are debt free, and you have at least six months worth of living expenses saved up in an emergency fund.
By following this approach, you give yourself a good safety net in case anything goes wrong.
Questions to Ask Yourself
If you’re not sure what to do, here are some questions you need to ask yourself, before you make the decision to go full-time in network marketing:
- Am I good at managing my time?
- How many hours per week would I work my business if I went full-time?
- What activities would I do on a daily basis to build my business full-time?
- Would I enjoy working the business full-time?
- Do I have six months worth of income in savings?
- Is my monthly MLM Income at least 2-4 times the amount of my job income?
- Do I have six months worth of living expenses saved up in an emergency fund?
- How does my spouse or partner feel about this?
- What does my successful mentor recommend?
- What is my gut feeling about this?
These questions are a good starting point to help you make the best decision for you and your family.
Another Piece of Wisdom
Another thing I highly suggest is that you sit down and talk to 3 or 4 full-time network marketers. Explain your situation and ask them what they recommend. Ask them when they went full-time in the business.
Ask them what mistakes they made and what they would do differently if they had to do it all over again. Ask them any pointers they can give you about when is the best time to go full-time. This advice will be invaluable.
The bottom line is that most people go full-time in network marketing way to soon. As a smart entrepreneur, you need to put some serious thought into the decision to go full-time. While the idea of being full-time in your network marketing business might excite you right now, it could turn out to be a catastrophe if you aren’t mentally and financially prepared.
As a final note, I must also mention this. If you are brand new to the industry and expect your MLM Business to provide a full-time income from day one, you are in for a big surprise. Even if you work your business full-time from day one, it will NOT provide you enough income right out the gate to live on.
Most businesses typically take two to five years to provide a full-time income, if not longer.
The best advice I can give you is to get a job to keep the financial pressure off your back, and build your MLM Business part-time at night and on weekends.
Work it as a side hustle UNTIL it financially makes sense to do it full-time.
What are your thoughts? When do you think someone should go full-time in network marketing? Leave a comment below to let me know what you think. I look forward to hearing from you. Have a great day.