Multiple Streams of Income -vs- Multiple Streams of Outgo
I've been home on medical leave (I had knee surgery last week, Tuesday, December 2nd, 2008), and the pain and rest have been very sobering and has made me think a lot about our wonderful network marketing industry.
Best-selling author, Robert G. Allen, wrote a great book a few years ago called Multiple Streams of Income, and having multiple streams of income is indeed a desired condition.
However, the mistake that most MLMers make is that they try to establish multiple streams on income simultaneously and that is generally not possible.
Another cool guy named Robert, Robert (aka 'Rich Dad') Kiyosaki, in his joint book project with real estate mogul, Donald Trump (the book was entitled Why We Want You To Be Rich) gave us a great acronym - f.o.c.u.s. -- Follow One Course Until Successful.
Robert Kiyosaki is an avid fan of MLM and says even if you don't make one red cent from your MLM business, what you gain in how to develop networks and how to sell, will serve you well in other entrepreneurial endeavors.
Be very careful about trying to start new income streams before you already have your first deal up and running.
If you try to start several things at the same time, you will not create multiple streams of income, you will instead create multiple streams of outgo.
In network marketing legend, Randy Gage's latest book, Why You're Dumb, Sick, & Broke, he suggests that MLMers follow the following course of action:
- Get your MLM up and running, and self-sustaining (RESIDUAL income, not bonuses, that can support you)
- Purchase real estate investment properties (rental income)
- Create your own information products ('how to' / 'self-help', etc.)
Another thing is that multiple streams of income suggest a diversified portfolio - not two or more MLMs. For instance, working two or more MLMs at the same time is a no-no.
People may tell you otherwise, but being the professional network marketer that you are, remember to ask them Dr. Phil's famous question: "So, how is THAT working out for you?"
Nine out of ten wannabe 'multistreamers' will start babbling and not give you an answer. The one of of ten who may be making some cash may be doing something that you probably cannot duplicate, or they are not telling you how much money they are laying out to earn 'x' amount of money. They may actually be in the negative.
If you're having problems selling your products or services, and building your downline, you may have to tweak your marketing message a little bit. I strongly recommend that you download Kim Klaver's free ebook entitled If My Product Is So Great, How Come I Can't Sell It? CLICK HERE, and/or listen to the companion audio file entitled 100 Customers In 100 Days by CLICKING HERE.
Well, there you have it folks, I hope that this information helps you out a little.
All the best,
7 Free Videos: Create an Endless New Stream of Distributors Knocking Down Your Door, Credit Card In Hand!
Now You Can Literally STEAL 7-Figure Secrets For Getting 1,000's of Red Hot Leads Every Single Day...
EASY and AFFORDABLE Unlimited Web Hosting Starting at $3.96/Month!