Full time in network marketing?
If you are wondering when you can go full time in your network marketing business, you have a good problem. It’s a question that most people never have to worry about. There are those network marketers who will do really well or fairly well and they will be faced with answering that question.
Most people who join a network marketing company have a job to go to everyday. They have to build their businesses part time. They dutifully sacrifice their evenings and weekends to build a better life. You have to admire them!
After a few years of hard work, they realize that they are making as much money from their network marketing business, part time, as there are making in their full time job. This can create a dilemma for them. They will want to quit their job and go full time. That is the goal, right? They joined to be able to fire their boss and now they can.
The question becomes should they?
In my opinion, they should wait to quit their job. That’s probably not the answer that most people would want to hear, but it is the prudent thing to do. Here is my rationale. See if you agree with me or not.
You’ve worked yourself into a position of having twice the income that you had when you first got started in network marketing. Your job is still paying you what it was paying you and now you are making the same amount of money from your business. Your income has doubled.
If you quit your job, you’ll be back to making what you were making before you started your business. Most people join to make some extra money each month. Without both incomes, you back to square 1.
Once you have twice the income, you will have several options. That is if your employer goes along with some of my ideas. Since you were trying to make some extra money each month with your business, you could keep your job as a part time thing. Your business income would replace your job income and your part time job would now be your extra income each month. Your employer might not like that idea and tell you it’s full time or nothing.
You could quit your job. The thought here would be that you’ve built up a nice income as a part time business owner, how much more money could you make if you were to go full time? Things could work out like that. In fact, I’d say that if you’ve built up an income, that matches your job’s income, then you would probably do even better working your business full time!
My biggest fear, with someone going full time, at any time, is the fact that some network marketing companies go out of business. If you go full time and your company goes under, you’re kind of out of luck. You quit your job. You might be able to get your old job. You might be able to find a new job. You might even be able to join another network marketing company and drag your old down line over to the new company. Even if you are able to do any of these suggestions, you’re going to have some interruption in your income. If you have planned for this, then you might make it through these tough times.
What I would tell someone who is thinking about going full time is this. Don’t quit your job as soon as you’ve match your income. Keep working until your network marketing income is 2 times what you are making in your job. I say this because a network marketer needs time to build up their savings.
Saving up enough money to be able to pay your bills for 12 months is the other criteria that must be met, before you quit your job. Sounds like a lot of money, doesn’t it? It probably is. You’ll need to add up every penny that you spend in a month and multiply that by 12. You must count your mortgage or rent. Your electricity bill, phone bill, water bill and food bill. Your insurance bills, your credit card payments, car payments and anything else that you spend money on every month.
Who knows, you might have $3,000, $4,000 or even $5,000 of bills every month. That would mean that you’d need to save up $36,000 to $60,000 before you could leave your job.
You need to keep that much money, on hand, in case your company does close down. Having that much money,in savings, to pay your bills for the year, will bridge any gap in income. This will allow you to take your time and make the right decision for your next move.
I’m sure this isn’t going to be my most popular article. There will be people who hate this idea. Most my sincere wish is that you get the opportunity to at least think about what I’ve suggest here, for real! That would mean that you’ve at least match your job’s income with your business income!!
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