.png)
_edited.png)
WHAT IS THE 2in1 BUSINESS CONCEPT
The 2-in-1 business concept blends Network Marketing with Freelancing Services. You’ll not only gain valuable digital skills but also earn money by selling products. Plus, you can build your own team of sellers, creating ongoing income while offering freelance services.
ERIC WORRE's EXPLANATION ON NETWORK MARKETING
What is Network Marketing?
Network marketing, also known as multi-level marketing (MLM), is a business model where individuals (also known as distributors or affiliates) sell products or services directly to consumers, typically through word-of-mouth recommendations, personal connections, or online platforms. In addition to selling products, these individuals can also recruit others to join the business as distributors. As the network of distributors grows, so does the potential for earnings.
The key idea is that instead of selling through traditional retail channels, network marketing relies on direct selling through a network of individuals.
How Network Marketing Works (in Simple Terms)
-
You Join: You start as a distributor or member by purchasing a product or enrolling in a business opportunity.
-
You Sell: You sell products or services to others and earn a commission on each sale.
-
You Recruit: You also invite others to join the business under you. When they make sales, you earn a small commission from their sales as well.
-
You Build a Team: Over time, you grow your team by helping others succeed, and as they recruit more people and make sales, you continue to earn a percentage of their sales too.
In essence, your success is based not only on your sales but also on the sales of the team you build (your “network”).
Compensation Plan
The compensation plan in network marketing is the structure of how you get paid. It rewards distributors for both their personal sales and the sales made by their recruits. There are different types of compensation plans used in the industry, but here are some common elements:
Direct Sales Commissions
You earn a percentage of the sales you make directly. For example, if you sell a product worth $100 and the commission rate is 30%, you make $30.
Override Commissions
You earn a percentage of the sales made by the people you recruit, known as your downline. The more successful your recruits, the more you earn.
Team Bonuses
When your team reaches certain sales targets or recruits a specific number of new distributors, you can earn bonuses.
Leadership Bonuses
As you climb up the ranks in the company by consistently building a large, successful team and driving more sales, you unlock higher-tier bonuses and exclusive leadership rewards. These rewards often include special incentives, increased commissions, and recognition within the company.
Residual Income
This is one of the most attractive aspects of network marketing. Once you have a large team making consistent sales, you earn a steady income each month based on their sales. Even if you step back from active selling, you can continue earning from your network’s efforts.
Benefits of Network Marketing
-
Low Start-up Costs: Unlike traditional businesses, network marketing often requires very little upfront investment. You can typically start with just a small purchase of products.
-
Flexible Work Hours: You can work part-time or full-time, and you control your schedule. This is especially appealing for those who want to work from home or around other commitments.
-
Potential for Passive Income: Over time, as you build your network and help your team succeed, you can earn residual income, where your earnings continue even if you're not actively working all the time.
-
Personal and Professional Growth: Network marketing encourages personal development, communication skills, and leadership abilities
-
Scalability: Your income potential can grow as you expand your network. There is no limit to how big your team can get, and therefore, no limit to your earning potential.
-
Community Support: Many network marketing companies foster a strong sense of community, offering mentorship, group events, and recognition for achievements.
-
Product Discounts and Perks: As a distributor, you often get access to product discounts, special promotions, or exclusive items.