You, like many others, are probably wondering what the future holds if you cannot be the writer of your own destiny. So much cannot be predicted: whether interest rates will rise or fall, whether groceries will be the same price six months from now, or whether you will get that bonus if salaries will be frozen next year.
These thoughts were on my mind when I began to watch a film about our current economic and career situation. The documentary The Rise of the Entrepreneur (hereafter called Rise), believes that becoming an entrepreneur is one way to control your own financial and professional destiny. Why work 40 hours a week to fulfill the dreams and expectations of someone else? Why fear how job stability will affect your mortgage payments?
Here is a statistic to chew on if you didn’t bring popcorn: 70% of workers want to be their own boss. You can probably relate. Think of the last time you had to work late at your supervisor’s request. Or the time you were sweating bullets, thinking that your last job review would be your last because your boss disapproved of something you had done?
Rise has a clear solution for you, if you want job security, if you don’t want to go back to school to learn a new career, and if you don’t want technology to replace your job. Become an entrepreneur.
There are a few ways to become your own boss. Buy an existing business. Buy a franchise. Start a new business. Become an investor.
You’re probably thinking that you love those options. If you buy an existing business, or a franchise, everything is pretty much set up for you. If you start a new business, it’s all your own, and you get to introduce the market to your life-changing invention. You’ll get to be your own boss at last, and become one of those people you used to envy because you saw them going to the movie theatre in the middle of the work day.
However, there are high risks, especially if your business savvy is the equivalent of a five-year old’s. There are also high costs to starting and running a business. And if you don’t have a lot of money to play with, being an investor could be a scary roller coaster ride that has you gambling away your vacation.
You’re partway through the documentary at this point, wondering if they are just going to keep scaring you, or teach you some way to make that pile of bills on the kitchen counter disappear.
That’s when Rise says that network marketing is the answer you are looking for. Low risk, low investment, and it is the business school for entrepreneurs. Instead of spending 50% of your budget on marketing, as you would for a traditional business, you can tap into your network using word of mouth advertising. Your network would also reach out to potential clients and demonstrate the product for you, so you don’t have to create expensive ads about the benefits of your product.
Alarm bells go off in your head. You’ve heard about network marketing before. Your friend tried it and didn’t make any money. He’s still working 9 to 5 with only a two week vacation. He told you it’s a pyramid scheme in which the people at the top suck money from the people at the bottom, meaning only the people at top achieve their financial dreams. The people at the bottom continue to slave away for years, never achieving financial freedom.
But wait. There is another comparison to consider. In a typical large corporation, it’s the CEOs and top managers who make the big salaries. Those at the top are the smallest percentage of the total staff. The largest percentage are at the bottom of the salary pyramid – the clerical staff, trainees, and assistants. Most of these people will never become a highly paid senior manager, especially if the company is large.
Rise says that many successful business people endorse network marketing. In a separate link from the documentary, I found a list of well-known people who believe in network marketing. The names include Robert Kiyosaki, Warren Buffet, Bill Gates, Jim Rohn, Les Brown, Tony Robbins, Sir Richard Branson, Tony Blair, Donald Trump, and Bill Clinton. All of these people, whether you like or dislike them, are financially successful. The host of the show, Eric Worre, is also successful.
The last part of the documentary provides four points to help you decide which network marketing company to join. First, you should decide if the product or service meets a need in the marketplace and is priced to sell. Second, you should examine the company and how well it is run and if you like the management. Third, you should check its compensation plan. Can you make an income quickly? And depending on your financial goal, can you make a reasonable part time or serious full time income from it? Lastly, you need to look at the support you will be receiving in terms of training and business tools.
There is no magical solution to ensuring a stable financial future. But if you are willing to learn new skills, and invest the time, the documentary makes a strong case that becoming an entrepreneur is the route to choose.