Forbes Magazine, a popular American magazine that features original articles on finance, industry, investing, and marketing topics, just released the article “Would You Join an MLM for Retirement Income?” and has the MLM (Multi-Level Marketing) distributors of the world celebrating that, once again, a prominent business authority is on their side!
“Would You Join an MLM Company for Retirement Income?” is going viral across the Internet and Network Marketers are applauding Forbes Magazine for explaining to the general public what they have been trying to explain for decades now!
The Forbes article promotes MLM by focusing on how the MLM business model can be a solution to the lack of savings of retirees and, as we will see later, for our youngest of generations. Forbes goes on to say;
“At some point in your life you’ve been pitched a multi-level marketing (MLM), direct selling, or network marketing business opportunity. While the pitch varies from company to company, it basically promotes a chance to ditch your 9-5 work schedule, be your own boss, and make lots of money while making new friends in the process.”
“It all sounds good on paper, yet there is a seemingly endless debate over whether these companies and programs are legitimate business opportunities or not, so I dug in and got the real scoop. As a result, I believe that the entire industry is poised for explosive growth and can be one of the most significant solutions to America’s current retirement savings crisis.”
This statement is as important as ever in today's current retirement situation. First of all, people do not believe in the Social Security System anymore. There is a slim chance that there will be enough funding when we retire and, bottom line is that the amount of income that one receives from Social Security is at a poverty level for the majority of Americans.
Secondly, because of how the economy has been the last several years, people are having to dip into their savings in order to survive, which means the money that they did have for “retirement”, has been depleted for many.
As the author describes later on in the article;
“With the average 50 year-old estimated to have less than $50,000 in retirement savings, there is an obvious need to find alternative ways to either save more or generate supplemental income starting now, and continuing throughout retirement.”
Obviously, $50,000 is nowhere near what a person needs to retire, which means they have to continue to work until the wheels fall off the car or their dead, whatever comes first. Unfortunately, this is not the American Dream that we all have been sold for so many years.
But, as the Forbes article promoting MLM says, this business model can be a solution to the retirement problem.
Why? Because MLM is a legitimate business where people can inject themselves into an already existing business model without all the headaches of starting a traditional business. The Forbes article promotes MLM further by saying;
“MLM and direct selling programs offer very low barriers into entrepreneurship, often providing training, support, and ample encouragement along the way.”
Now, there are literally thousands of MLM and Direct Selling companies out there, so one needs to be careful when joining a new MLM business. The Forbes article also gives its own warning;
“Like any investment of time, money, and energy, people need to be aware of what they are getting into and do their homework.”
Before entering the MLM Industry, you want to make sure you are getting into a great company to work with. Your main points of emphasis are;
*Strong Management: Is the company run by a strong set of Executives? In order for explosive growth to happen, you need to have a team that is dedicated to it.
*Compensation Plan: What is the Net Payout of the company and how much emphasis is put on Residual Income (not Bonuses)?
*Good Products: Do the products work? Is there a high demand for the products? Are the products at a good price point?
*Ethics: Is the company ethical and with high integrity?
*Business Processes: Are the business processes easily learned which leads to duplication throughout one's Network Marketing organization?
*Social Network Marketing: Is the company set up to be shared easily on the Internet? This is huge as the future of Network Marketing will be more and more about Internet based tools.
The Forbes article gives real life examples and maintains a Baby Boomer theme throughout. But it is not only Baby Boomers that are looking to capitalize on the MLM Industry. The Millennial Generation (18-39) is also poised to jump into this business model due to the fact that they do not believe in the traditional “American Dream” of going to college and working for someone else for 50 years. This Millennial Generation has more of an entrepreneurial spirit than many of the generations before it.
With that said, we have about 50 years worth of people to satisfy with our Network Marketing business model, and, as a result, the Network Marketing Industry could soon experience larger than life growth, spurred on by Baby Boomers looking to adjust their retirement plans and Millennials ready to become the entrepreneurs of tomorrow!
The Forbes article promoting MLM is just another piece of evidence as to what this business model can do, not only from a personal level, but from a global view also in terms of creating long lasting Residual Income streams.
As discussed in the body of the Forbes article, if you see what Multi-Level Marketing can do for you, the best thing you can do for yourself is find a great company to partner up with.
I personally am involved with two companies (sister companies) and have been for ten years. Based on the way the MLM Industry is going, I would suggest looking at Ditch The Can™, which is very much technology based. If you aren't into technology and would prefer the traditional Network Marketing model, then Life Force International could be a great fit also.
Whichever company you choose, the main message is; do NOT let the Network Marketing Industry pass you by!
Ben & The Balance You Need
Forbes: Would You Join an MLM Company for Retirement Income?