There is always a Price to pay!
When you start out as network marketer, the obvious cost to you as a new rep is the start-up money. This can be anything between $100 and $500 depending on your opportunity. Once you have paid that start-up money the real action begins.
You need to understand that the investment that will build you a successful business is bigger than the money that you pay to get started. If you had not done the exercise of calculating the full price to pay for you to succeed in your home business, then now is a good time. It is never too late to do a cost/benefit analysis of any venture that you are in. Taking that kind of stock enables you to make necessary adjustments going forward.
I will endeavour to highlight for you the major hard and soft costs that you must be prepared to pay if you are to be successful network marketer.
- The First Price To Pay – Your Dignity and Status
Network Marketing is still considered an abstract way of making a living by a lot of mainstream thinkers. So what it means is that 98%, if not all of the people you know will not understand you for taking the route of building a career in this industry. You are going to meet ridicule, resistance, well-meaning advice and even outright disrespect for your choice. Coming from a conventional professional background as a water scientist myself, I know what I am talking about.
Best practice as a new rep is to share your product with your hot or warm market first. Starting out without a success story of your own, the professional colleagues, friends and family members who constitute that first stream of potential customers for you can be the worst people to talk to. The sad thing is that many of them are not brave enough to tell you to your face what they think but will instead send out these innuendos and vibes that say “You have lost it. Shame.” This is when self-doubt sets in. You start questioning your decision to be a network marketing entrepreneur. If you do not prepare yourself mentally to pay the price, you will quit and I do not wish that for you. Be mentally and emotionally geared for it by resolving to stick to your dream no matter what other people say or think.
Now before any red flags start flying and you vow never to tell your warm market about you product and opportunity, read this article I wrote on How To Correctly Engage Your Warm Market
- The Second Price To Pay – Time Constraints
My assumption is that you are doing network marketing on a part-time basis for a start. That is how I started as well. This comes with its own challenges. Obviously, you had a life before becoming an entrepreneur. Juggling all the roles that you had before with your business venture will be a challenge. There are time sacrifices that you will have to make to accommodate your business and meet your goals. What kind of time sacrifices will these be? Obviously, if you are in full time employment, those 8-9 hours at work are not available for your business. You have the few hours outside of work to do everything else and then be rested enough to be functional at the office every day. So, where will the sacrifices need to be made? It is in the amount of time you spend socially and with family.
- You will need to reduce TV or sports watching. Do I hear a moan from the soap loving ladies and the sport-loving guys?
- Time with family will need to be negotiated to accommodate your business goals. You need to make your family understand that they will see less of you but you will make it worth everybody’s while once you achieve what you set out to do. If You make that promise, discharge yourself well in your business, achieve the promised results and build your credibility with your loved ones.
- There are chores that friends may have asked you to do for them in the past. It will become more difficult for you to carve out time for such commitments. You need to find a way of dealing with that.
- Obviously, this list is not exhaustive. I would love to hear from you in the comments below what other time related sacrifices you have had to make to grow your business.
- The 3rd Price To Pay – Training Costs
Without a doubt, training (Team and Corporate) will play a significant role in growing your business. You will also need to purchase personal development books, audios and videos. Chances are when you saw the presentation and decided to become a rep, you really had not been looking to become a business owner that day. That means you probably have no experience as an entrepreneur. Team and Corporate training will help you with developing the skills that you need for success. Personal development training will build you up as an individual to have the mental capacity and emotional intelligence to grow your business into a flourishing entity. Training will cost you in money as well as time. With regards the money I love our profession because we get paid as we learn. It is possible for you to raise the money to cover training from initial product sales that you make on your way to greatness. With regards to time, see (2) above.
As you face the challenge of paying for the above 3 costs keep this in mind: Anything worth having has a high cost of acquisition. If you are willing to pay the price, the glorious benefits of becoming a successful network marketing entrepreneur will be all yours. Are you willing to pay the price?
If you found this post of value to you as a network marketer, please leave your comment below.
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Nomusa is a loving mother of four sons. A professional water resources consultant with a Masters degree in Water Resources Engineering and Management, she has mastered the art of mindset shifting and integrating her conventional professional training with becoming a successful God praising network marketing business owner.