If you have been following my Network Marketing Today series you will know I have covered the following:
- Network Marketing Today – the beginning of the industry
- Network Marketing Today – part 2 – More history including some of the reasons the industry had a bad name
- Network Marketing Today – part 3 – I shared my own personal journey and how I came to understand the value of Network Marketing.
In this part of the series we look at why in today’s economy more than ever Network Marketing is such a powerful model for wealth creation.
Paul Zane Pilzer said in his book The Next Millionaires, “Direct selling provides an opportunity – open to absolutely anyone at all, regardless of background, specialized skills or accrued capital worth – to create a significant residual income.”
I ask you to think about where else you can find such an opportunity – to become wealthy from any background without accrued capital.
Let’s consider property…
Prior to the GFC (Global Financial Crisis) I witnessed many people make considerable money in property. I was the CEO of the company that brought Robert Kiyosaki, John Burley, Dolf de Roos and other great teachers to Australia and New Zealand in the early to mid 2000s. During that time I saw people become millionaires by flipping properties, wrapping, doing deals with no money down and borrowing up to 100%. Anyone with the right education and courage could get into the game. I know it was the same in the US and I am sure in other parts of the globe.
The sub-prime housing crisis in the US followed by the GFC changed the rules maybe forever. Now even the most solid investor has to jump through hoops to obtain a mortgage. (I know – my husband is a Mortgage Broker and I work some of my time with him).
I have no doubt there are good property deals still out there but for someone with no capital they cannot get started.
Again I am sure there are excellent opportunities available to anyone who is very educated and knows what they are doing. You do need capital to start and in the current climate there is indeed risk. The days of borrowing for all and sundry to do margin lending are no longer with us.
Traditional Business perhaps….?
Certainly you can make money in traditional business however you do need some capital to start and should consider:
- How much capital do you need to start
- Will you put your house at risk by borrowing against it
- If you are growing a business you will have salaries to pay
- Superannuation in Australia (retirement fund)
- Premises – how much rent will you pay?
- You may be carrying stock
- Debtors etc etc etc
I also have observed over many years that many people who go into a business do not have all the skills necessary to grow the business.
If you listened to my journey in Network Marketing Today – part 3 you will remember my story. Let me share a little more with you.
Please leave me your comments below. I love hearing what you have to say. And please share this post with your Twitter and FB friends by clicking on the share buttons. I appreciate you telling others.