Many people share the dream of leaving their current job and working in a lucrative industry that lets them set their own work schedule.
After all, why wouldn't you want a better work/life balance while significantly boosting your income?
One such company that offers this opportunity is Vector Marketing. However, a quick search on Google raises several concerns that are worth looking at in more detail.
Let's consider if Vector marketing is a good business opportunity.
What Is Vector Marketing?
Vector Marketing is the sales arm of Cutco which has been manufacturing kitchen cutlery, accessories and sporting knives since 1949.
In 1981, Vector was founded in Philadelphia to sell knives direct to consumers through a network of independent sales reps. On its website, the company claims to sell over $200 million of high-quality Cutco products each year.
The fact that the business has been trading for 40 years suggests it has a successful business model that independent reps can use to make money.
The high yearly seven-figure sales figure is also likely to attract the attention of many budding entrepreneurs.
The company also has some attractive messaging on their website advising their primary focus is helping individual sellers to succeed. By teaching reps new skills, they can help people develop into successful sales professionals.
Reassuringly, Vector Marketing states that they are not a multi-level marketing (MLM) company. Legitimate MLM companies sell products to consumers, but they also encourage their members to bring on more recruits.
An MLM company can grow quickly, but often only the people at the top of the organization make a high income. Independent sellers at the lower levels typically make very little money and may leave when they see poor results.
Vector Marketing also does not operate a pyramid scheme model whereby the only way to make money is to recruit others. This trading method is illegal, and you should never partner with a business that operates in this way.
So far, Vector Marketing appears to be an excellent company that takes good care of its sales partners. However, a closer look raises some potential issues.
Can You Make Money With Vector Marketing?
This question is not easy to answer. Somewhat unusually, the company offers what they call a base salary. This guarantees payment to the sales rep if they present the products to a qualified prospect, even if they don't make a sale.
While this initially seems to be a good deal, there is no section on their website to advise how much they will pay. They also do not mention if this fee covers transportation costs or how it equates to an hourly wage.
The company also seems to offer fantastic opportunities for reps to progress up the ladder. This can lead to working in more advanced sales positions and management roles.
But, again, there is no data displaying how or when you may qualify for these jobs. These vague statements do not mean Vector Marketing is being shady, but it is a concern.
Many other direct marketing companies also trade in this manner. By offering potential benefits to independent recruits, they hope to benefit from their sales endeavors.
However, the sales reps often find themselves receiving very little in return for their efforts. This is one of the reasons there is a high turnover in the industry.
Another reason to be wary is that you need to find a target market that can provide a steady stream of customers. People generally do not replace kitchen knives that often, so you are unlikely to make many repeat sales.
Also, it is not easy to sell to customers in the internet era. Many people will already buy online, or larger companies can advertise to them through paid targeted ads.
Benefits of Affiliate Marketing
Affiliate marketing allows you to sell other people's products with zero upfront investment. You can work with a partner that shares your values and provides products and services that align with your passions.
There is also no need to limit yourself to selling one product; you can choose as many different goods as you like and sell them simultaneously.
If you do not have an advertising budget, you can still make sales from the comfort of your own home. For example, you could write blog posts, record podcasts, or create video content and post them online.
When an interested consumer clicks on an included affiliate link and makes a purchase, the seller sends you a commission. This can range from a few dollars to thousands of dollars, depending on the product you sell.
If you prefer to use paid ads, you could preplan your marketing strategy and allow the ads to run on autopilot. You can also use a combination of paid and unpaid advertising methods.
However, it is possible to waste time and money using ineffective affiliate marketing techniques. You could become discouraged and give up before you begin making money.
One way to increase your chances of success is to work with others who have an excellent track record in the affiliate marketing industry.
An experienced team can help you avoid common mistakes and guide you towards more powerful strategies.
Choose Legendary Marketer
This Vector Marketing review can help you decide if the company offers the right business opportunity for you. If not, you may find affiliate marketing is a better fit.
The Legendary Marketer team has combined their many years of experience and expertise. We've created coaching and consulting programs to help you achieve your online marketing goals.
But, we don't pretend this is easy; it can take hard work and dedication to become an authority in your chosen sector.
In order for you to develop your skills, you should consider taking a free or paid marketing course. There are a variety of digital marketing courses you can take from businesses that can help you enhance your skills. As of writing this, over 80,000 new marketers have taken the Online Business Builder Challenge (only $7), and that might be a good starting place for you as well.