https://www.personalfinanceforbeginners.com/mlm-side-hustle/?utm_source=rss&utm_medium=rss&utm_campaign=mlm-side-hustle Take the First Steps Toward Financial Independence Thu, 31 Oct 2019 20:05:09 +0000 hourly 1 https://wordpress.org/?v=6.2.2 https://www.personalfinanceforbeginners.com/mlm-side-hustle/#comment-1756 Thu, 31 Oct 2019 20:05:09 +0000 https://www.personalfinanceforbeginners.com/?p=7689#comment-1756 Network marketing is the best hustle one can venture in but it depends on a person’s mindset. If you take an MLM as a get rich quick scheme, you will be highly disappointed but if you get in with the right mindset and take MLM as a get rich sure scheme and take it as a career, it will greatly pay back. The financial and time freedom that is promised in MLM does not come overnight, it’s hard but it’s worth it at last.

]]> https://www.personalfinanceforbeginners.com/mlm-side-hustle/#comment-1712 Sun, 20 Oct 2019 05:08:43 +0000 https://www.personalfinanceforbeginners.com/?p=7689#comment-1712 I have been involved with good and bad MLMs. Some were exactly as you described were I did spend more money than I have earned. However, the business and personal development education I received from those companies have helped me earn more money from sales in my other profession. Prior to entering into those sales jobs (which at times paid six-figure annually) I worked in law enforcement and other white-collar jobs and the people skills honed in my MLM “side hustle” aided me in earning various promotions and therefore income. All of this “learning” was achieved at a far lower cost than a university based education which, unless it was an applied science degree, still did not teach me the the real life aspects of a career and upward mobility. Those I had to learn through the schools of hard knocks.
A good MLM won’t promise you instant riches but in fact tell you it’s a journey which will take a different amount of time to complete based on your starting point. The MLM company I work with now had a $99 startup cost and has a $24 monthly cost for the product. A product btw that has saved me over $12,000 in fees I would have had to pay to companies such as a cell phone provider, attorney, auto parts and others. I can choose to build a sales team or sell the $24 product directly which is where I have concentrated and that has put thousands of dollars in my pocket and still pays me on a residual basis outside of the sales team overrides.
So is MLM a “bad side hustle”? I don’t believe so but then like every other good career choice, I learned about the industry and chose the right company.

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