August 28th, 2020
Phil Guido on the Advantages of Network Marketing
Team, I felt compelled to share this excellent message from Phil Guido about the benefits of network marketing. This is a great article to read because it offers some excellent advice and insights which can benefit all UFOs and helps explain and frame our business in the greater context of network marketing. Phil does a great job explaining the benefits and advantages of this type of business & why it works for so many people. Take a moment to read Phil’s insights because they are on point and really help explain why businesses like the UnFranchise are so popular in the modern age!
The Advantages of Networking
By Phil Guido, Director of the GMTSS, Americas
When you are prospecting, does anyone ever ask you if this is a network marketing company? How do you respond? Here is my list of the top benefits of network marketing.
You can earn ongoing income and there is a compounding effect that can cause that income to grow exponentially. An insurance agent earns residual income because she sells you a policy and then earns each year on the renewal of that policy, but there’s no compounding effect. However, as an UnFranchise® Owner over the past 20-plus years, while I have sponsored a relatively small number of partners and personally created some customers, my partners led to thousands of other partners who now make up my team, and I have thousands of additional customers created by my growing network of business partners. All of the volume created by my growing team and all of their customers is what determines how much I earn in commissions. The ability to create exponential growth in my ongoing income is huge!
You can operate your network-marketing business part-time. When I started as an UnFranchise Owner (UFO) I owned a pharmacy business. I was only able to put in part-time hours as a UFO, and hoped to generate an extra few hundred dollars per month. Over time, staying committed to a consistent part-time effort that was focused on actions that produced results put me on a path to creating an ongoing income that enabled me to leave my full-time pharmacy business, and for the past 20-plus years I’ve enjoyed the income and lifestyle of a successful UFO.
This leads me to my next favorite benefit: You have no employees and none of the costs and headaches that go along with that. Prior to Market America, in my pharmacy, I had to pay my employees for everything they did during their workday. They were always asking for a raise. I had to provide health benefits, pay unemployment insurance and more. In network marketing it’s simply a cooperative team effort, with every one of the independent business owners on the team working together to achieve success.
No geographic boundaries
I live in New York, but I own a condominium in Florida and I stayed there sheltered in place with my wife, Sue, for the first six months of 2020. In fact, I can go and stay anywhere for as long as I please. As long as I have an internet connection I can operate my business. By contrast, my pharmacy business felt like a ball and chain around my ankle. I simply had to be there in the building. I couldn’t go away for anything longer than an extended weekend, if that.
Your weekly paycheck is significantly reduced (in some cases by 30% or more) by the payment of taxes before you get paid. However, as a UFO I am paid my full commissions earned, and receive a 1099 tax form at the end of the year. If I purchased a new laptop, paid for internet service, purchased a ticket to a training classes, or paid for travel expenses to travel to training seminars, the government allows me to take deductions for all of that before I pay my taxes.
Lastly, I have the ability to work with people I want to work with. I have a friend who refers to the people at his job as JAWS, which he says stands for Jerks At Work. He hates working with them, but he has no control over it. It’s his job. I also have two brothers who are teachers; whenever there is a family gathering you can find these two off in a corner comparing notes on their struggles working with difficult teachers, department heads and administrators. As a UFO, I choose who I want to spend my time with, and I love that.
Those are my top reasons why I love being an independent business owner with a network marketing company. What are yours?