Network Marketing For Retirees
Network Marketing For Retirees : In this article we are going to discuss whether network marketing is something retirees or those approaching retirement should consider either as a business to earn additional income and be able to work from home (or anywhere) or alternatively as an interest outside the workplace you have given or are still giving your time to. The truth is there are two big problems for the “baby boomer” generation (that’s us). It’s lack of money to fulfil our retirement lifestyle and/or lack of something interesting and worthwhile to do every day.
We were first introduced to the concept of network marketing back in 2004 whilst we still had our management consultancy business. We loved the whole idea but back then we didn’t really have the time to develop it but the words “passive income” stuck in our minds and at the same time we began to pursue personal development not knowing where it would lead us down the road.
What is Network Marketing
Definition: A business model in which a distributor network is needed to build the business. Usually such businesses are also multilevel marketing in nature in that payouts occur at more than one level.
Network marketing is a type of business opportunity that is very popular with people looking for part-time, flexible businesses. Some of the best-known companies in America, including Avon, Mary Kay Cosmetics and Tupperware, fall under the network marketing umbrella
Network marketing programs feature a low upfront investment–usually only a few hundred dollars for the purchase of a product sample kit–and the opportunity to sell a product line directly to friend, family and other personal contacts. Most network marketing programs also ask participants to recruit other sales representatives. The recruits constitute a rep’s “downline,” and their sales generate income for those above them in the program
Source : Entrepreneur
Why Network Marketing For Retirees
Speaking again from experience these are the reasons that we would highlight and they are very much the same as we talked about for affiliate marketing
- Small capital outlay
- Relatively low operating costs
- Can be done from anywhere
- No physical effort
- Can be done part time while you are still working if you haven’t yet retired (that’s what we did)
- You set your own hours
- You are your own boss
- No limit to what income you can generate
Many network marketing businesses are managed via the internet so we would suggest you have a laptop computer and also a smart phone as both will help you build our network marketing business more effectively and profitably.
Often you will hear the expression around a network marketing business as being a “leadership factory“. Personal development is very important in this industry and we would agree and why we believe it’s well suited to retirees or those approaching retirement. We’ve gained skills throught our careers and corporate or business life so now we can put them to good use for ourselves and have fun along the way.
We’ve spoken to many people from all walks of life who have decided to pursue network marketing in their retirement and it seems from much we have read that there are many benefits.
Before you commit to a network marketing company make sure you are very clear that if you want an income from it as a business then you must treat it as a business. If you treat it as a hobby you will get paid as a hobby… not problem there just be realistic!
Our colleague Robert Laura wrote in a Forbes Article back in 2014 and this is an extract from that article:-
“The interviews and psychological connections lead me to conclude that MLM and NM companies, along with other small businesses opportunities, are important considerations for anyone entering retirement. In fact, I believe the concept of starting a business for retirement income will become one of the most significant trends impacting retirement in the 21st century. But it has to start with redefining entrepreneurship and framing it into a retirement lifestyle. That means helping people find ways to turn a passion, hobby, or personal desire into extra money in their pocket… not to mention helping people see the importance of planning for the non-financial aspects of retirement such as replacing a work identity, staying relevant and connected, as well as keeping mentally and physically fit.”
Whether you’re interested in starting your own business for retirement income or helping others explore this entrepreneurial path, download our free guide: How To Start a Business For Retirement Income here
We’re huge advocates for starting a business in retirement for all of the reasons cited by Robert and we have a network marketing business and an affiliate marketing business because we love both.
We love to travel and a network marketing business in the travel business suited us not just because we want to travel more in our retirement but because quite honestly there was nothing else in any other industry that truly floated our boat.
Travel may not be your thing and all we would say is find something that you enjoy doing, and comfortable talking about with friends and prospects. Traditionally a network marketing business is built person to person but these days it is easier with social media and online marketing but ultimately it’s what you feel comfortable with.
Why not take our quiz and see where it takes you…
Enjoy the journey and have fun along the way
You may also like to read Affiliate Marketing For Retirees
Thanks for reading and do leave us your thoughts or any questions you have below – we are real people and we try to respond within 24-48 hours
Who Are We
We’re former accountants of a certain age with 5 great kids, 4 grandchildren and a cat called Vincent ? We love skiing, the mountains and traveling the world and have achieved a fabulous life helping others to start and build successful businesses online and now speak on international stages following our passion. Our business is centered on online marketing, financial and business education for those in or approaching retirement. You can find out more and ways to work with us here
Authors : The Mindset Shift The Mindset Shift Goal Setting Secrets Retire Inspire
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