The first thing I want you to know is that I am not the expert here.  I actually just opened my very own Multi-Level Marketing (MLM) business.  That means that this is all a totally new experience for me too.  But what you should know is that I am someone who puts a lot of thought into everything I do, I’m extremely analytical.  So when I did open my own multi-level marketing business it certainly wasn’t a rash decision.

There are so many benefits to owning your own multilevel marketing business.  The problem is that people seem to be afraid of doing it because of the huge stigma that has been built up in our society about these businesses.  These businesses are not just run by middle-aged housewives, are we STILL living in the 1950’s – please! These businesses are not ‘pyramid schemes’ – do yourself a favour and learn the facts before you start making those judgement calls… Most people don’t even know what a pyramid scheme is.  The Flip Flop CEO (great book – give it a read if you’re a sceptic) said it right when they explained that a pyramid is a shape, a pyramid scheme is a scheme developed by someone where no product or some type of worthless product is being sold.  Anyway, here are the top ten reasons why I think that opening a MLM is one of the best decisions you’ll ever make:

1. The tax Benefits

Bet you didn’t know that in Australia when you earn $10,000 a year doing anything.  Yes, anything you are entitled to small business tax benefits.  That means you have to pay tax, but that you also get to claim all of your business expenses on your tax.  That includes coffee dates with clients, your fuel, insurances, product purchases, trips – you name it.

2. The socialising

You can earn money by connecting with people.  These people might be your friends, or they might be new connections that you’ve met purely as a result of your new business.  Either way, you’re networking all the time and that means more friends, opportunities and learning!

3. The ‘get me out of my comfort zone’

When you start your own MLM business, you are immediately forced out of your comfort zone.  It’s not easy selling things.  You have to know your product, you have to interact with people in a way that is probably totally foreign.  You’ll have to introduce yourself to new people, give presentations, teach your team what you’ve learnt, inform your clients about the products they’re buying and mentor your own team.  It’s scary and hard.  But it’s the hard things in life that make us better, right?!

4. The low initial cost

Like any business, you’ll need to invest a little to open your own MLM business.  But generally it’s a couple of hundred of dollars, compared to thousands for conventional businesses.  You get all of the benefits of owning your own business with none of the responsibility if it fails.  You don’t need to do any product development, manufacturing, branding, standardising or research.  Someone else has already done all of that for you!  Now all you need to do is sell that product and develop a team of people who love the product or want to sell it… Seems pretty fantastic to me!

5. The high rewards

Most MLM companies offer their own rewards.  Things like bonus checks on top of your commissions, cars paid for when you reach certain levels, massive product discounts, gifts for achieving certain things.  Its not very often that a company will reward you so much for doing your work!  Plus, on top of what the company is giving you, you are also earning all of that residual income from your team of network marketers.  There is a lot of potential to earn big in these businesses.

6. The life experience

We all learn, develop and grow all of the time.  With every interaction we are learning something new.  The thing is that this type of business requires you to get out there and do things that normally you probably wouldn’t be doing.  Let me explain this using my own example, I’m a 22 year old engineer working for a global consulting firm.  Don’t get me wrong, I LOVE engineering.  But as a 22 year old, you’re not exactly presenting your findings with important clients, leading design projects, or changing the engineering world.  So as a MLM business owner, I get to (or get forced to, whichever is fitting) do all of these things.  That means I’m learning well beyond where I need to and I’m developing my own skills with every interaction, every client meeting, every team member I sponsor.  On top of that, I’m learning from all of these people too.  People who I normally wouldn’t interact with, or know anything about.  It’s an invaluable experience.

7. The residual income

Yeah yeah, I know, the life experience is great and all but at the end of the day, we probably wouldn’t be doing it as enthusiastically if there wasn’t some kind of monetary value involved.  A residual income is an income that is working for you, while you might not be working.  Conventionally you go to work and do your 40-hour working week and you get paid for those 40 hours.  When you own a MLM business, your team might be working while you’re not.  That means, you’re being paid to not work.  Your downline, or the people who you sponsor and introduce to your business work, and as their mentor and sponsor you will make money on any money that they make.  That doesn’t mean that they earn less money, it just means that the company you’re working for is paying you part of what they’re earning too!

8. The time

I’ve found with so many people that the main reason behind not wanting to open their own MLM business is time.  Let me tell you: TIME IS NOT AN ISSUE.  You will have time; this business is designed to fit into the nooks and crannies of your life.  You get out what you put in, and if you have time to put in 5 hours a week (that means an hour less of TV each night – think about it) then you have time.  Any time that you are willing to put in will reward you.  You also have to remember that this is your business! If you want to work 60 hours a week then you can, but you can also run this business in addition to a full time job.  That’s what I do, that’s what most of us do!  Which leads me on to my next point.

9. The security

It’s a scary world out there right now.  I live in the luckiest country in the world and redundancies are all too common.  I’m not sure about you, but I sure as hell do not want to be left jobless with no backup plan in this economy.  I don’t want my life and everything I want from my life to be governed by a massive company who, while amazing, need to keep making money.  If there’s no money, there’s no job for me.  I want to wake up each morning and know that I’m doing what I do because I’m choosing to.  I want to go to work each day and enjoy it, but feel safe in knowing that if push comes to shove, I have the financial freedom to look after myself if something should happen to my job.  It’s a dog eat dog world out there, and no one’s going to look after you, but you!

10. The skills you will learn will make you better at your day job

You will be better at your day job as a result of learning these new skills outside of your day job.  Everything you learn from running a business will make you a better employee.  Plus, you’ll probably be a whole lot happier knowing that eventually, you might not have to be at work if you don’t want to.