Multiple MLMs - Does It Work? ECommerce Articles | February 2 Cheap NFL Jerseys Wholesale , 2008 Those of us in MLM are often asked to join other programs. This article discusses the pros and cons of a single vs multiple income streams and how they apply to MLM
Top leaders in your company tell you to focus on one business - theirs! Is this really in your best interest, or is it better to ahve multiple streams of income in case something goes wrong with your current MLM?
When I got serious about MLM, I started building an organisation. I folllowed everyone up. I sent out regular newsletters by snail mail. I travelled extensively. I ran home presentations and company meetings. After 18 months of pretty consistent work, my income grew to $1 Cheap NFL Jerseys Free Shiping ,300. Then something happened. Someone in my organisation 4 levels down took off with the business. While this seems great, it meant their volume broke away from mine and I lost a whole lot of bonuses. I was paid just $600 the following month. I was devastated!
My sponsor had the idea of a portfolio of businesses. I followed him and joined a number of other companies. When income from the first one dropped so dramatically, I lost interest and decided to focus on another business. This one grew to $3,600 a month. Then my upline started poaching my downline for another business. That started a steady decline in one line Cheap NFL Jerseys From China , which has steadily eroded the income to $1,300 a month or less.
In 2005 I came across Mike Dillard and Magnetic Sponsoring. What he said made sense so I joined the program and purchased his book. I made a profit for about a year and built a list of 150 or so. Some of you reading this might be on that list. I then purchased MLM Traffic Formula to take it further.
Straight away, we learned that the reason most people are in business is for financial reward! What a revelation. You mean it wasn't to make the advertising media rich! It wasn't to make my MLM company rich! It wasn't even to make my boss rich. This completely changed my thinking.
If you haven't yet shut down your browser and decided I am crazy, consider this. Everyone wants you to put all your eggs in one basket. What do the big boys do? They earn money from several busineses. Real Estate Investors own a portfolio of properties. Those successful on the share market own shares in many companies. Even movie studios make several films a year.
There is a reason they do this. It is called insurance. If one investment or business fails Cheap NFL Jerseys China , they are still OK because they have other sources of income. Let's face it, if you have a job and you get laid off at over 50, there is a good chance you won't get another. If your MLM company goes broke, or something happens to remove a large chunk of your organisation Cheap NFL Jerseys , and you are solely reliant on that for your financial future, where do you stand if this happens? It is not a pretty picture.
Having decided to follow Mike's advice, I took another look at what I was doing. No more blindly following one thing. I evaluated each company to see the optimum way to build it. That is how I came up with my Customer Acquisition System (CAS) idea. You see I now have 3 MLM businesses plus another internet business. They are all profitable and all pay me in excess of $1,000US every month. I am building them through marketing products and they all grew during January. Even if one failed Cheap Jerseys Wholesale , I would still be in good financial shape.
Yes, there are some challenges with this idea. First, if you are starting out, it is difficult enough to build one business Cheap Jerseys Free Shiping , let alone 3. So, I would start with one, build it up, get it on autopilot and then work on the second. The important thing is to find a way to build it without losing money. This is called a self funded proposal. As long as more money comes back to you than you spend on promotion Cheap Jerseys From China , you can simply spend more and grow the business faster!
I trust I have given you a long term vision of how you can succeed in this industry and have insurance against any challenge that may come your way. Even though you can't do this instantly, you will be very happy you did. When looking at a new business, work out the costs and financial incentives to recruit new team members. The business I am building at the moment pays up to 50% of the first sale. That means I can spend a lot to get a recruit. I have a few others in my organisation doing the same, and a nice monthly cheque as a result.
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