Two years ago I started a network marketing business without even really knowing what I was getting myself in to. I had been a licensed CPA for nearly ten years at the time and while I was a natural networker, sales wasn’t necessarily what I saw myself doing. I had just started my accounting practice about six months prior though and cash flow was tight. This required relatively no capital for me to start and was a fast way for me to bring in some cash while my brick an mortar business grew. Now, I’ll give you some fine print that I was already deeply in love with the company’s products and using them all myself, so it was a natural transition for me to share the same way we all recommend restaurants and movies to our friends and family, but for the most part I had no idea what I was doing. I learned as I went.
What I discovered along the way was a couple important things. The first being that network marketing has by far the most incredible leadership and development training in the world at the lowest price. I saw Tony Robbins speak not ten feet away from me for $249. In all my years of accounting, I had also not seen another industry create so many self-made millionaires. The short version of the story is I created a five figure residual income in less than two years which afforded me the cash flow flexibility to make a lot of decisions in my brick and mortar business that I would not have had the luxury of otherwise.
As I started to learn more and get more involved in the industry it made me a better accountant for my tax clients. The tax code is still about 30 years behind the direct sales industry. There’s more gray area than there are answers when it comes to the tax treatment of a lot of these at home businesses. To add fuel to an uncertain fire, most individuals achieving success in this industry aren’t necessarily business trained and are looking for guidance when it comes to tax and legal implications of their non-traditional business model. Accountants who don’t take the time to understand the industry are missing out on a huge population of clients earning six and seven figure incomes. What’s more, is you’re missing the opportunity for yourself to earn residual income more secure than the market place and at a lower cost of entry.
What to do if you’re not up on your network marketing knowledge? If you’re interested in learning how to earn an income in the industry while also learning to better serve your clients, I train all my sales team members for free. If you’re interested in being educated just on how to better serve your tax clients, contact me at firstname.lastname@example.org.