I started this EIEIO Series to illustrate my own observation why it is that so few people would embrace the Network Marketing industry. For those readers who have not been following my post, you may want to read the first of my series to get the context first. Click here for that post please.
Today, I am going to talk about ‘I for Immediate Rewards’. I will talk about the most common immediate rewards for employees and employers. Then, I will cover some non-monetary rewards that Generation X, Y and Z love. Lastly, I will talk about the unique situation of stay-at-home mums. I share these views from what I have observed during my nine years network marketing journey.
Employees’ Immediate Rewards
Most people who are working for others are paid whenever they provide their labour or services. This is called Active Income. Whether you are a high paid banker or a working class labourer, there is one thing in common. No Work = No Paid.
These days, many people are living from paycheck to paycheck. With the rise in electricity bill, water bill and the high cost of living in general, many people have their focus fully on how to earn more NOW. Some choose to take on another job for another source of income. Others work harder and aim for a promotion and pay rise.
For those who explored Network Marketing and decided to give it a go, the immediate monetary reward often disappoints them. Many network marketers typically face challenges along the way and conclude that the hard work is not worth it. Investing the same amount of time, they could have exchanged their labour for more money.
Employers’ Immediate Rewards
Here, I refer to the employers who owns a traditional business – online or offline. Very often, small business owners need immediate rewards to pay for the overhead and marketing. No market = No Cash. More often than not, employers’ focus is on ways to generate money NOW. They time, energy and effort are typically spent in the actually running of the business for immediate rewards.
When a network marketing opportunity is presented to them, many would conclude that they simply do not have any time left for a side-business. Any ounce of effort would likely be spent in generating more cashflow.
Generation X (born 1965-83)
This group is the children of Baby Boomers. Typically, they are self-reliant. They often prefer immediate rewards such as fine dining, social gatherings, material goods and travelling.
For those who have a family, their top priority is having a great family life. When they are not a work, they would be spending time with friends and families.
Generation Y (born 1984-2002)
This group is famously known for their peer orientation and their seeking instant gratification. Their immediate rewards are often around themselves and their friends. Social function, group activities and anything that is enjoyable NOW. Many in this group enjoy travelling as a group to places around the world as far as Iceland and Europe. (I am in Australia.)
The idea of having to work 3-5 years for ‘financial freedom’ often is a far-fetched idea for them.
Generation Z (2003- present)
They are also known as the ‘Digital Generation’. Everything they do tend to be fast-paced. Like Gen Y, they also like to spend time with their peer group. The plan of having to schedule a 7-10 hours a week on ‘business’ is beyond comprehension. For them, NOW is the golden age. They prefer to meet up with friends and have a great time.
Vision for the Future
You can appreciate that if a network marketer cannot ‘paint a picture’ for their prospects to see a different (and brighter) future, they will not join a network marketing company.
Now, let’s take a look at the stay-at-home mums.
While the child is growing, every moment is treasured. For this group, the immediate reward is to be with their children and having great family life at weekends. Family vacation is often their yearly reward from the mundane household work.
Parenting is a challenging role. Many stay-at-home mothers that I know find it hard to have ‘spare’ time to do other things. However, for those with older children or those who are great at juggling various tasks, network marketing can pretty much be weaved into their lives.
It is a way to generate a supplementary income from home at low start up cost. The paycheck for running a part-time network marketing business may not be a lot at the beginning. Many would like to get started because any money earned is more than the initial ZERO income. For those with entrepreneurial mindset, they can see that the income potential is huge.
Besides, sharing products or services that they love gives them meaning in life (helping others) and recognition. These immediate rewards can be the prime motivation for them to do well.
Are you one of the Stay-at-home mother network marketers?
What attracted you to network marketing?
What is the biggest challenge for you? How did you face your challenges?
I’d love to hear from you!
PS: If you have not *met* me, click here to connect with me. Feel free to grab a copy of my e-Book ‘Navigating The Network Marketing Maze’ if you would like to explore more. You can do this by filling in your name and email address in the form on the right hand side of this post.