When is a good time to start a Network Marketing Business?

May 14, 2009 – 3:35 pm

The short answer – when you don’t need to.

 About five years ago a prospect signed up because his market had shrunk and he had too few contracts in the pipeline for comfort.  A network marketing  business would give him a decent secondary income and something to fall back on when his primary income slowed down.

 And then – he secured a series of contracts and never did anything to develop a secondary income.

 There have been several occasions over the years when his business has slowed down and he needed to generate income quickly – like to pay the bills at the end of the month!

 So far he always manages to scrape out of the situation and find something to tide him over.  What I have failed to persuade him is that he needs to develop a fallback income before he needs one.  A network marketing business, like any other business, takes time to grow and the worst time to do that is when you’re desperate. 

 

To put all this another way: 

 

Don’t wait until you’re thirsty before you start to dig a well.

Posted in Network Marketing

Beware Pyramid Schemes

May 11, 2009 – 9:56 am

According to the Office of Fair Trading (OFT) pyramid schemes are costing UK consumers £420m a year.  Consumer Direct, the government advice service, has posted advice on avoiding falling victim to such scams on its website – www.consumerdirect.gov.uk.  They also have a helpline for individual advice – 08454 040506.

The OFT have begun to use their new criminal powers under the Consumer Protection from Unfair Trading Regulations 2008 with the arrest of three women in the Bristol area in connection with a suspected unlawful pyramid scheme.

 If you’re looking for additional income and want to build a profitable home based business the doing your own due diligence before signing up is a must!  There are plenty of genuine network marketing opportunities that, in the words of the OFT, “a legitimate form of business activity offering individuals the opportunity to earn money by selling the scheme’s goods or services from home” so don’t get taken in by hype and pressure to sign up now for “unmissable opportunities”.

Start by downloading my free report “Why Network Marketing? Why Now?” and book a free coaching call for a down to earth chat about network marketing and how to recognize a good opportunity.

Useful websites for further reference:

www.dsa.org.uk/

www.consumerdirect.gov.uk

www.oft.gov.uk/

www.firstclassmlm.com

Posted in Network Marketing