If all things were possible, how many people would prefer to work for themselves? If you did a survey among your family members, friends and acquaintances, you would probably find that the vast majority of them would say that owning a business is a dream of theirs but that they are afraid to make it a reality. Here are four ways MLM eliminates start up fears and can get a newbie on the road to entrepreneurial success.
Low Initial Costs
One of the main reasons people hesitate to start their own business venture is cost. They think that if they don’t have a five or six-figure reserve to start with, they won’t be able to get a business off the ground. One of the benefits of a MLM business is that someone can get started with a small investment. In many cases, the initial outlay is $500 or less.
Limited Time Investment
Someone who already feels pulled in many different directions due to career and family responsibilities may be hesitant about starting a business. They may feel adding anything else into the mix would be the proverbial straw that broke the camel’s back. MLM doesn’t have to be a full-time effort (at least not right away) and the time investment can be as little as five hours a week.
When people talk about their reasons for not starting a business, perceived risk is one of the main things holding them back. If over half of new business ventures fail within the first two years, it’s understandable why someone would not want to give up his or her main source of income to take a chance on something which does not have a built-in safety net.
A MLM venture can be started on a part-time basis, which definitely lowers the risk associated with starting a new business. The new business owner can take the time necessary to build the business without giving up his or her day job until the business is generating enough income to make it worthwhile to do so.
Lack of Business Knowledge
People who may otherwise be interested in starting a business may be afraid to start one because they haven’t taken business courses. Someone who is not familiar with business accounting, taxes and marketing may not be confident in his or her ability to start and run a successful venture.
A main advantage to a MLM venture is that new business owners get the benefit of working with experienced consultants who will share their knowledge at no extra charge. MLM members can take advantage of this service indefinitely. Other business activities, such as research and development, inventory, shipping, sales taxes and payroll, are also handled for the business owner, and at a nominal cost.
The four ways that MLM eliminates start up fears listed here give a prospective entrepreneur good reasons to consider this business model. It provides the benefits of running a business while lowering the risks associated with a new venture.
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