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How much money can I make?

Thursday, December 9, 2010 , Posted by Munib Shaukat at 9:49 AM

 
How much money can I make?

Theoretically, you can make a phenomenal income from network marketing, though very few people ever do. Many people have used this business model as a springboard for creating personal fortunes of hundreds of millions of dollars, though they are a tiny minority and most people will never earn enough to give up their day job. Theoretically, you could make nothing whatsoever. Actually, if you pay money to join and then do absolutely nothing, you'll probably lose money! Some people complain about this, but of course you're entering a business, and you must expect to do some work in order to get paid! Go down to your local shopping centre and ask some of the merchants there how much money they lose for every day they fail to open their shop. Then ask them how much they paid to set up the shop in the first place. That should help to put things in perspective! Remember that this may be a simple, straightforward business model, but it is still a business, not a hobby. If you want to work it like a hobby then expect to lose money, as you would do on any hobby.

Also, bear in mind that most companies are under strict regulations not to claim that very large incomes are easily obtained, so the top earners are rarely found to disclose their exact earnings. In addition, network marketing requires a lot of work to get to a decent income, by the nature of the business model. If you think that someone's monthly income is low, try multiplying it by twelve months a year for the rest of their life!

Finally, by owning your own business you are entitled to write off business expenses against income tax. That means that you can legitimately claim back some of the money spent on travel, equipment, phone bills and attending functions. All this helps to cut the cost of the first few months in the business, even if you make very little from the business itself. It also helps you to make some more money once your business is up and running. 


Note - don't form a business purely for the sake of saving tax! This can often be illegal. Please take professional advice from a registered tax adviser in your country.

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