Is a 6 figure income possible in network marketing?
On average, I’d say that about 1% of all network marketers are making $100,000 or more per year. It is possible to make 6 figures. Although, it’s not probable.
Most people, me included, join a network marketing company in hopes of making the ever elusive 6 figure income. Most people have no idea what it takes to earn that kind of money. Making $100,000 per year is a good living, but it’s not really that much money. You’re probably not going to be featured on “Lifestyle of the Rich and Famous.”
Let me start by asking you this question.
Are you making $100,000 per year or more in your current occupation? Only about 7.4% of Americans can say yes to that question. If you aren’t making over $100,000 in your current situation, then it will that much more difficult for you to earn that amount in network marketing.
The longer that you’ve been in a situation where you aren’t making that amount of money, the more you believe that you can’t or won’t make that kind of money. This has more to do with mindset than anything else. Believing that you can make that much money and believing that you are worth that much money has as much to do with it as having the knowledge and skills to earn that much.
Let me follow that up with 4 more questions.
How long did you train to be in the occupation that you are in?
Did you go to college or trade school to learn how to do you job? That would take about 2-4 years of training, if you did. Maybe even longer.
You might have just graduated high school and gone straight to work. Generally speaking, the more education you have the more money you are likely to earn. That’s not true in all cases, but it is in most cases.
How long have you been working in your occupation?
You could have been in your current situation for 20 years or maybe you started last week. Either way, you have put some time in on your job.
Now add up both figures. Let’s just say for the sake of example that you went to a 2 year trade school and you have been in your current occupation for 8 years. That’s a total of 10 years that you’ve invested into that job.
How much money are you earning each year?
The average (median) household income in the US is about $52,000 per year. Maybe you make a little more than that or a little less, but 92% are making less than $100,000.
Let’s use our example, from above, and say that they took 10 years to train and work their way up to the average income of $52,000. Let me ask you this question.
How long will it take for that person to train and work their way up to $100,000 per year, in network marketing?
Keep in mind that they have been working a 40 hour week for those 8 years. They have developed a certain amount of expertise in those years. They are being paid for those 8years of experience. A brand new network market comes to the business with little to no experience.
With all of that in mind, do you have an answer?
Do you think it will take 90 days to get to $100,000? Or will it take 1 year? What amount of time would it be reasonable to think that they’d reach $100,000 per year income? Will it take 5 years or maybe 10 years? Will they ever get to $100,000?
Obviously, this hasn’t been about a hypothetical person. It’s about you. Are you willing to do what it takes to get to a $100,000 per year income?
Are you willing to make that kind of time investment into your network marketing career?
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