What does legacy income really look like in network marketing? If you have a killer first year, should you expect that to continue? In this episode of My Extra Mile, David T.S. Wood chats with Anna and Morgan Richards about network marketing. More specifically, they talk about why it’s not treated like a legitimate profession and what can be done, and misconceptions about how network marketers make income. If you’ve been on the fence about network marketing, this is the episode that could change your mind.
You will want to hear this episode if you are interested in…
- Anna and Morgan’s podcast: The Anything Goes Podcast
- Why many feel the need to legitimize network marketing
- Why network marketers don’t have the courage to own their profession
- How networking marketing impacts your spouse
- The journey of leadership in network marketing
- The raw truth about building a legacy income
- Why network marketing made sense as a career move for Anna
- Why the network marketing industry is dominated by women
- How different ranks come into play and impact you
- Why YOU should go into network marketing
Why network marketing is frowned upon by so many
Why are so many people turned off by network marketing? Because they think of the inexperienced or the worst examples of network marketers as the standard for the entire industry. People come into this wanting a change or transformation in their life, but they lack the experience. They don’t have the training and understanding. People form an opinion on network marketers who are in their infancy. What do Morgan and Anna do differently with their teams? How does it make an impact? Listen to find out.
Success is about showing up—no matter what
When Anna left a six-figure job and threw herself into network marketing, she was arguably not ready. But she got to work. She was training women in a profession she didn’t know and learning alongside them. She learned that she needed to take the pressure off of her “title” and simply be present. It was about being in the trenches with everyone else and failing forward. It was about showing up no matter what.
Building a legacy income isn’t linear
Every business has natural peaks, valleys, and plateaus—network marketing is no different. Anna’s first year—working harder than she ever has—she made $400,000. Every year since then, they’ve done approximately $200,000 or so a year. Anna’s highest income was her first year. Why? Partially because of when she started in the year and how different events and promotions can amplify the income. But they’ve earned multiple six-figure incomes in network marketing for seven years. Dropping from $400,000 to $200,000 is a normal business cycle. It’s a process of learning and a challenge to overcome.
That’s why it’s important to understand the natural cycle of building a legacy income. It’s about building a foundation and developing a team. Morgan and Anna note that while you’re building stability and a solid foundation, you should keep your life simple. Ride out the peaks and valleys as you build your legacy income, so you NEVER find yourself in a place of desperation. Anna and Morgan continue to discuss how different ranks impact you, why you shouldn’t make drastic lifestyle changes, and why comparison will take you out of the game. Don’t miss it.
Why should YOU go into network marketing?
Why should you say “Yes!” to network marketing? Anna and Morgan have spent six years figuring this out and they’re grounded in it. Anna points out that it’s not a matter of if you’ll do network marketing—but when. Everything is becoming referral based. You’re already doing it.
Morgan points out that approximately every 10 years or so, the economy lets us know that jobs and security can be volatile. It is a necessity to have something like this to give you breathing space to fall back on in times of desperation.
The more good people that can find their way into the profession will raise the tide for all ships. It will continue to legitimize network marketing. Financial wellbeing and longevity will become more important. Ai and robots can’t do what network marketers do. It’s about taking freedom to another level.
Why is the network marketing industry dominated by women? Why does Anna believe she was destined for network marketing? Listen to the whole episode for her story!
Connect with Guest Name
- Anna + Morgan’s podcast: https://officialanythinggoes.podbean.com/
- Anna + Morgan’s Website: https://annaandmorgan.com/
- Anna on Instagram: https://www.instagram.com/annarose_richards/
Connect with David T. S. Wood
- Follow David on Facebook: https://www.facebook.com/davidtswood
- Follow David on Instagram: @DavidTSWood
- Follow David on Twitter: @DavidTSWood1