What is Network Marketing?
Network marketing or multi-level marketing is a method of marketing products by providing opportunities to individuals instead of companies' own opportunities. In this system, products reach the buyer directly. Since country, regional distributors, distributors, wholesalers do not intervene, only the person who facilitates the sale of the product makes a profit.
How Does It Work?
Product Sales: People who become members of a network marketing company earn income by selling the company's products.
Creating a Network: People who become members find new members in their own circles and thus create a wider sales network.
Commission: A commission is received from each sale and the sales made by the new member. These commissions usually have a multi-level structure. In other words, the member of the member brought by a person also earns a commission.
Advantages
Starting Your Own Business: It offers the opportunity to start your own business at low cost.
Flexible Working Hours: It gives you the freedom to determine your own working hours.
Additional Income Source: It offers the opportunity to earn additional income in addition to your main job.
Product Usage Opportunity: It gives you the opportunity to use products at a discount or for free.
Disadvantages
Failure Risks: Not everyone can be successful, it requires patience and effort.
High Competition: The market is quite competitive.
Misconceptions: It can be misunderstood by some people as a pyramid scheme.
Continuous Work Requirement: It is necessary to make continuous effort to be successful.
What to Consider Before Starting Network Marketing?
Company Research: Detailed research should be done on issues such as the company's history, products, commission plan and member comments.
Product Quality: The quality of the products to be sold and customer satisfaction are important.
Legal Status: It should be made sure that the company operates legally.
Determine Your Own Goals: Determine what you expect from network marketing and how much time you can devote to this business.
In summary, network marketing is a system that you can turn into a supplementary income or even a full-time job with the right strategies and disciplined work. However, like every business, it has its risks and challenges. Therefore, it is important to do detailed research and evaluate your own situation before making a decision.