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Comments: 11 In my 31 years of network marketing, I've never seen a better company than Yoli, that's why I came out of retirement to build another huge business. Fill in the form below for a FREE bottle of Alkalete!
Working Multiple MLM's
Through my 31 years of network marketing, I've had many people approach me with the idea of working multiple mlm's. Some were asking if I thought it was possible and some were just trying to get me in their deal, even though I had told them I was committed to mine. I've heard all the so called rationale for working multiple companies - multiple income streams, spreading the risk (not putting all your eggs in one basic), diversifying your offerings, using one to promote another, etc and while that all sounds good, the reality is that I have never been able to work simultaneous mlm's and I have not met anyone else who has successfully done so either. Now, I have worked a company until it was solid, retired and then built another, so that I had multiple streams of residual income, but I was not building both at the same time.
Here are my concerns about trying to build two or more businesses at that same time:
1. Loyalty - when you enroll with a company and commit to an upline, you are saying that you are going to devote your time and energy to building a business with that company. If you have a good upline, they are going to commit to your training and on-going support. If you're working multiple businesses, then you are splitting your loyalty and that doesn't seem quit fair to either the company or the upline.
2. Time - we all only have 24 hours in a day and most of that is taken by work, eating, and sleeping. For most people, if they can squeak out 10 hours a week for a business, they're doing well. So, if they are then splitting that time between 2 or more businesses, there just isn't enough time to build a successful business.
3. Confusion - when you are working more than one network marketing business, how do you decide who to put in which company. What if you find a really tremendous prospect, which company do you put him/her in? This causes confusion and confusion causes procrastination and paralysis. Plus, imagine how it looks to your upline, downline and prospects. You begin to look like the street peddler who has a coat full of watches and other nicnaks.
As you can tell, I'm not real high on working multiple mlm's, however there is one exception. There are a few companies out there that offer products that will help you build your primary mlm business. Some examples would be Magnetic Sponsoring, which offers a great funded business proposal, enabling you to prospect for your primary business and get paid to do it.
Another one is Send Out Cards, which I've used for some time now to send cards to my downline members who sponsor their first person, achieve new ranks, or just need a little encouragement. I also send cards to prospects. It's a very convenient and less expensive way to send a personal message to someone through the mail. Plus it enables me to remember people's birthdays and anniversaries and send out a card, which is always a great relationships builder.
A company I have recently connected with is Talk Fusion, as they offer a tremendous set of video related tools I can use to build my primary mlm business. I love the video e-mails, as they give a much more personal touch to e-mails I send to my downline or to prospects. Also, I can set up video capture forms on my web sites and the system will automatically send out follow-up video e-mails. They will also be introducing a full featured video and web conferencing system in the next week or so, that will rival Go to Webinar and Webex for a fraction of the cost. Since I do weekly webinars using Go to Webinar, this is another great tool that will save me a bunch of money.
Finally, I am also using the new marketing system from iBoostBiz, which has a nice selection of web sites with video and capture pages, plus autoresponders, a nice contact manager, e-mail campaigns, a toll free number, live chat, and much more. I use the various capture pages with an ad code, so I can see which ads and sites are pulling the best.
All of these are either affiliate or mlm programs, but I don't work any of them as a primary business. Now, at times, people will see the systems and enroll themselves, which does create another stream of income, but my loyalty, focus, and energy is all pointed to my primary business.
Perhaps you are better than me and can successfully build multiple, simultaneous mlm's, but my encouragement is not to try. It's difficult enough to build one big mlm business, much less two or more. I highly recommend that you find the very best company you can find and then focus all your attention there for at least 5 years. Build it to the point where you have several layers of committed leadership and a nice weekly or monthly residual income. Then, if you want, you can pursue another venture and build another stream of income.
About the Author: Rod Nichols
Member Since: 08/06/2007
I'm a Distributor For:: Yoli Blast Cap Technology
Other Company: I am a founding distributor and Triple Diamond with Yoli
Industry: MLM
Primary Web Site: http://www.AlkalinityBiz.com
Working Multiple MLMs
Hey Rod,
That was one of the most sane articles I've read on the subject of working multiple deals. You also answered a question that bothered me for a while...I've been a member of SendOutCards for a while and I don't build it, but I use it as a service and of course welcome anyone to sign up to do the same. I didn't want to give the impression that I was building two companies, but you laid that to rest for me with your explanation of how you use the tools you use with your primary company. thanks, great article.
You Are Welcome
Rasul,
You are very welcome. Glad the article helped your thinking. This was an area that bugged me for years, until I finally put it to bed, which enabled me to move on with confidence and build big businesses.
Have a great day!
Rod
Pretty Foolish To Build More Than One Company
Building more than one company is just like spinning five plates at the same time. Your plates are going to crack and you will make such a fool out of yourself that people will make excuses like being too busy to join you in your company.
Lawrence Bergfeld
Rasul, you bring up an
Rasul, you bring up an interesting point. I see too many people avoid other Direct Selling companies because they misguidedly feel that they might appear to be disloyal. I've always said it's the opposite in that it shows that network marketers have fierce loyalty to their industry and the belief that we do in fact have superior products & services.
There are some magnificent companies in the MLM space and there is not one company can cater to everyone.
If I can source a product within the NM community that my company doesn't offer then I view it as supporting not only that small business owner who is willing to separate from the pack and build an asset for themselves, but it also shows others that we as network marketers put our money where our mouth is with regard to our own industry.
I'm with multiple companies for product or business use and am happy to recommend them. For instance I use both Arbonne & Melaleuca because I try not to have anything toxic around my kids in our home. My own company doesn't have a solution for household or cosmetic items.
I use plethora of business products such as some of the one's Rod talks about. I don't 'build' any of them but yes I do get checks from them from time to time.
Can you imagine what the Network Marketing industry space would be like if we were product customers or wholesale customers of others within our industry? I don't see a downside.
not 6 or 7 figure by a seven figure earner
I don't mind buying as a member other company products, what I don't believe is building more than one, I have been in this industry long enough, I have been in four different companies in 18 years, 7 with the last one, I can tell you that the only time I got distracted trying to build 2 non competing companies my income drop, since I have been focus on only one I have been able to earn several million dollars in my current business, you can't do that if you have too many to handle, I don't know anybody who earns $20,000 per month or more who is building 2 or more companies at the same time.
George
Great Post
I was plagued by having too many irons in the fire. I have recently learned to do one thing and do it well. And has it ever paid off. I agree with some of your add ons. Send Out Cards will be one I eventually will befriend. I have a friend who is excelling in it.
Thanks again for a great post.
Diane
Makes alot of sense
That is the first time i ever heard that argument and actually changed my opinion, you are absolutely right i feel stupid now....... Time to do some thinking. I always thought me having this opinion was wrong. Everybody else has 100 companies maybe i should. But i feel good about not joining 100 companies at once now.
Nope Doesn't Work for Me
I can't concentrate on more than 1 company at a time. I spend too much time focusing and building my prmary business, so when do I have the time to build more than one? I don't see how others do it either.
Well Said
I have been approached by marketers trying promote multiple businesses, sounds good but many don't succeed because they can't focus.
I like the use of systems like MLSP that offer tools many marketers can use in building their business.
Great article & some even better comments
Rod,
Your article hit the nail on the head & made a hell of a lot of sense to me. Also, many of your readers that commented gave some awesome feedback & advise that would help anyone with this great topic.
I myself subscribe to the fact that if they are tools that you can use to build your primary business then yes, for sure join & if others end up buying them but be careful to buy things that are useful & keep track or you'll keep paying useless ongoing subscription fees (remember that's how gyms make their money). :)
Thanks again for a good & informative read.
good article- another side of it
I have i the past had trouble splitting time as it is not duplicatable, however, I have to ask myself, what am I really in the industry for- the product(s)? If I am honest with myself it is not the product although I am passionate about the few I represent. It is about financial security and freedom and helping others do the same.
On the other hand I also realize that the majority of MLM companies do not last forever, and the issues with being a 1099 employee. The fact I even have to think about what tools I can use such as send out cards and video email is insanity to me. Why have to worry about that? Is it because we don't really own anything, thus the the point of this article at all- eggs in one basket. The eggs in one basket theory is valid and we can not deny that.
However, there is someone that has answered both these problems and it will revolutionize your thinking and the industry in itself. If you have not heard about it, it is called Monitium. You can find out how you only have to concentrate on building one team in a permanent genealogy, and get your cake and eat it too. Check out http://monitiumleader.com and http://Monitiumvideos.com and you will see what I mean.
Here's to having one basket and knowing the eggs are safe.