I remember many years ago an episode of the 80’s sitcom, “Three’s Company,” in which Chrissy Snow, a character on the show, quit her day job to pursue network marketing full time. She had the euphoric high that she was going to get rich over night by signing up all her friends and family into her new business. Jack and Janet, her roommates, did not like that idea at all.
The reality about network marketing is that many people can not afford to quit their day jobs just yet. Many networkers should start a home-based network marketing business online on a part-time basis. By working a regular job during the day, they can still earn their wages and benefits while doing online recruiting at night. Their wages and salary will cover their personal living expenses such as rent or utilities. If you have signed up with any network marketing or multi-level marketing company, it is recommended that you use this approach when starting your business on your kitchen table.
In choosing whether to begin part time, take into the account the time constraints. If you work a 9-to-5 job, you have nights and weekends to pursue working your online business. You might not be dedicating yourself enough to your business. There may not be enough hours in the day for you to work your day job and spend the necessary time your online MLM business needs to grow. Perhaps you may be too exhausted to do a very good job in your own business. When I first started online marketing 3 years ago, I was doing both. I hated it. I worked a 9-to-5 job and was at my computer from 6 p.m. until 1 a.m. working the business. Then the cycle started over again the very next day. It was very demanding on me, but I was determined to win at all costs since I have a wife and no kids.
If you have a spouse and kids, you may have even less time to do your business. If you work your business at night, you might not have time to see your daughter’s piano recital. This work schedule could work for you temporarily, but it most likely will not work indefinitely. According to the U.S. Department of Labor, about 1 out of 17 workers has more than one job even if that other job is your online business. Both jobs could be taxing on a person.
There are advantages and disadvantages to both starting an online network marketing business and working the business full time. If you find yourself in this position, ask yourself the following questions before you quit your day job:
- Can you still pay your bills if you quit?–Be sure to include the cost of your health care if your spouse’s job does not cover you.
- What happens if your business fails?–Will your job still be there if you go back, or will you go out and get a new one?
- Can your self-esteem handle the pressure if you incur a drop in salary?–Do you feel at ease with your spouse by depending on him/her for financial support?
Some people run an online business throughout the year as an added cash flow and never turn it into a full time venture. That is great! The extra cash from your online MLM business can supplement your current income and pay for a trip to Hawaii or your child’s college education or pad your retirement account.
The beauty of owning an online MLM business is that the “extra money” you make can relieve the pressure on you of depending on your day job as your only source of income. Even though you have not achieved total financial independence with that extra cash flow, you will still have financial peace of mind.