4 Benefits of Network Marketing
Network Marketing has grown steadily for years, but the internet has seen interest explode, with incredible programs able to stretch across the world and enable millions of people just like you to make money from home. But with all the different options we have today to work from home, what are the benefits of starting a Network Marketing business?
1. Low Cost Entry
Starting your own business from home can be daunting even for the most confident among us, if you are having to invest a large sum of money as well, it puts even more pressure on you. Network Marketing has a low entry cost, enabling you to get started with minimal risk.
Network Marketing gives you two kinds of freedom, the first is freedom from the set work schedule, enabling you to plan your day around both your own and your family’s needs. That itself is empowering, especially for those new to working for themselves, getting your work done and being able to spend time with children, attend events and so on is one of the most valuable benefits of all.
The second kind of freedom you get from Network Marketing is the freedom from limits. Network Marketing gives you the tools and opportunity, and then lets you run with it. Your hard work brings in earnings and success, and there are absolutely no limits to either. You could double your income in a year with the right opportunity and the right approach. There are no rules to stop you, no boss to tell you to be happy with your 2% pay rise (if you are lucky!), it’s all in your own hands.
Now, we all know we have to pay tax, but few are happy about it, however there are definite tax advantages to running a network marketing business that make that tax bill a little less painful. As a business, you get the tax arrangements of a business, and that means expenses are deducted from profits before you pay tax.
Think of it this way, as an employee, you earn money and pay tax on what you earn, then you spend what’s left (and hopefully save a bit). As a business, you earn income, you spend money on things you need, you pay tax on what is left.
That means car, gas, phones, internet, anything you use to run your business, is an expense you can deduct from profits before you calculate tax. The precise details of what counts as expenses varies depending on where you are, so it is something to check with an accountant, but regardless of the small detail, you have a significant tax advantage.
4. Passive Income
Finally, we need to mention that income itself, you can build a passive residual income from network marketing, that is an income that does not rely on you doing some activity, it comes in no matter what you do. That is very powerful, and incredibly liberating to develop a passive income over time, providing funds whatever you are doing.