Financial Freedom in Network Marketing

April is the month in which we as South African celebrate the birth of our democracy and commemorate the first democratic elections held in South Africa on 27 April 1994. The South African government is dedicating this whole month to celebrating progress in democratic freedom.

This inspired me to talk to you about financial freedom and how that relates to us in the direct selling, and network marketing industry.

Financial freedom usually means having enough savings, financial investments, and cash on hand to afford the kind of life we desire for ourselves and our families. It means growing savings that enable us to retire or pursue the career we want without being driven by earning a set salary each year.

Whenever I ask a person what it is that attracted them to the direct selling network marketing industry, the answer most of the time is: “I want to be financially independent.” What all of these people realized is that no one will offer us financial freedom on a silver platter. We cannot simply rely on the Government or our employers to look after us if we don’t start looking after ourselves today.  

I have read many articles and many offer very good advice, I want to share with you my top 3 tips for gaining financial freedom.

1.   Goal / Budget

    We all have bills to pay and financial obligations to meet. But we don’t want to work only to pay the bills. Set yourself some goals to achieve the lifestyle that you desire. Have short-term goals and long-term goals. You may want to have enough money to pay for your children’s school fees, but you also want to save for their education should they wish to study further after school. Work towards your goals and how to achieve them.

2. Work for knowledge and not money.

Regardless of what your goals are, the world does not stop moving or waiting for you to get caught up on your skills.  Empower yourself with knowledge. Understand the Company's compensation plan and how you can use it to maximize your income. Throughout my career in this industry, I have seen countless people who never took the time to understand the business they were in, to understand what they had to do to make money. So many people only want to do the bare minimum and expect the money to come rolling in. Like to many things in life, it is all about ‘what you put in, you get out.’ Network marketing is not a get-rich-quick scheme; it is a full-time career. Those people who took the time to understand the business are also the ones that are constantly asking for advice and improving their skills. It is also no surprise that they are the ones that are making money in the industry.

 

3.  Make money work for you.

Recruiting other people into your network is the easiest way to earn money from other people’s efforts. But this means that you will have to invest time and money into developing these people. Spend time with your downlines and teach them to be better in the business than what you are. The African saying goes: Give a man a fish and feed him for a day, but teach a man how to fish and you feed him for a lifetime. What it does not say is that in network marketing if you teach him how to fish, he will not only feed his own family but also your family.