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[willie robertson Contribution Level: 4]

Good day all,

I have a question to ask that has been weighing heavy on my heart the past few weeks.

As a business owner, specifically with regards to MLM and self employment, should we have, or should we consider having, more than one stream of income to rely on as entrepreneurs?

It is some scary sh-t going on in the world economies, and let us not assume it can't affect the MLM/Business opportunity arena, that's probably wishful thinking.

Just last night I was watching a webinar where a gentleman was in affiliate marketer for a vendor where he was earning upwards of $6000 per month.

Out of the blue the product owner made some changes and there went the affiliates large income. Fortunately this guy was a creative thinker and was able to work something out with the product vendor.

But...

What about you and me?

I love the MLM industry but i'm not sure I am comfortable nor do I want to take the chance of building my MLM, putting all my eggs into one basket or in this case, one income stream/company.

Currently I do some affiliate marketing of others products and my ultimate goal is to create and sale my own products also.

What is your take on having or not having all your wealth building eggs in one basket?

Much Appreciated.

[Joyce Penner Company: Life Force International Contribution Level: 8]

Hey Willie. I just heard (and I can't remember who said it) but you can't ride a horse with two asses.

Made me laugh but what I eventually learned through all my ups and downs in network marketing is this:

Work ONE business - your MLM !

Then take your profits from your MLM and make that money work for you !

Invest it!! Diversify your portfolio so you have multiple streams of income coming in from a variety of different sources.

So for a brief time you will have only one income stream with some small affiliate commissions coming in from the tools you recommend to your downline.

But after you've worked your butt off in your MLM and the rewards start coming in, you will or can have as many multiple streams of income as you choose.

The risk of single income stream? A year? Maybe less, maybe more but the ultimate goal is not to make $15 in affiliate commission sales but to make many thousands per day from your money working to make you more money.


Joyce

[Ty Tribble Company: Shaklee Corporation Contribution Level: 2]

Since I started online, I have always focused on one Network Marketing company.

I've never met a 6-figure earner who focused on more than one company.

However, I do affiliate and Internet marketing and those opportunities create income and in many cases leads for my primary business.

[willie robertson Contribution Level: 4]

Hi Joyce,

That actually was my train of thought, payoff my debts, invest for the future.

I have been following some of Mike Dillards Elevation Group information.

It's just scary though, even with MLM, people invest time and money in the business and for whatever reason, the venture, through no fault of the distributor, goes under.

Thanks for your input.

[willie robertson Contribution Level: 4]

Hello Ty,

Yep, that's one reason why I give consideration to affiliate products, they can, if done right, help to offset your business expenses and potentially generate business leads.

Thanks for your input.

[Lydia Baker Contribution Level: 1]

Hey all.

Definately multiple income streams, you dont want your eggs in one basket incase that basket gets cut off in any way!

Lydia

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[Joyce Penner Company: Life Force International Contribution Level: 8]

Willie, Ty is right

I've never met a 6-figure earner who focused on more than one company.

Pick the right MLM company and go hard. Fear is what keeps people from success and you (we, all) need to overcome that fear. F (false) E (evidence) A (appearing) R (real).
Joyce

[Mario Sanders Company: Life Force International Contribution Level: 6]

It is good to have one income off of MLM business. But everybody would not be buying from you. So to attact more people to your site, you would have to offer more items for more people to view your site and have a better chance to view your main product.
So if they don't buy from your main product line, they would be offered other items they may picque their interests. Each product would complement each other.
The main idea is to attract and retain more customers who visits your site.

[Melvin Goodrum Company: AdvoCare International, L.P. Contribution Level: 4]

Good day all,

I have a question to ask that has been weighing heavy on my heart the past few weeks.

As a business owner, specifically with regards to MLM and self employment, should we have, or should we consider having, more than one stream of income to rely on as entrepreneurs?

It is some scary sh-t going on in the world economies, and let us not assume it can't affect the MLM/Business opportunity arena, that's probably wishful thinking.

Just last night I was watching a webinar where a gentleman was in affiliate marketer for a vendor where he was earning upwards of $6000 per month.

Out of the blue the product owner made some changes and there went the affiliates large income. Fortunately this guy was a creative thinker and was able to work something out with the product vendor.

But...

What about you and me?

I love the MLM industry but i'm not sure I am comfortable nor do I want to take the chance of building my MLM, putting all my eggs into one basket or in this case, one income stream/company.

Currently I do some affiliate marketing of others products and my ultimate goal is to create and sale my own products also.

What is your take on having or not having all your wealth building eggs in one basket?

Much Appreciated.

I recently got hit with that. My ecommerce business was doing about 15-20k a month until Google make changes to their Merchant Program.....I basically got the worse Google Slap ever imagined and my income from the business went to practically zilch.....

I've made the needed changes and I have other income from other things but I have to re-evaluate my entire business model and come up with a new games plan....but that's life and things constantly change in the business world and you just got to keep going. One good thing is that Google gave me 100 dollars in Adwords and reduced my CPC rate by 10% until the end of the year so I expect my traffic to come back within a month. I'll just enjoy the vacation in the meantime

[Michaelangelo Flores Contribution Level: 1]

I reckon both. Focus on ONE first in the beginning.
And keep only focusing on that ONE thing until it is at a level where it grows without you actively engaging in it.

THEN when you reach that level, you can move on to build something else. It's like having multiple power plants to power your city. If one of them gets damaged, you still have others to provide energy while the other one is being repaired.

OR

You can focus on TWO things at a time - a primary and a secondary. I've had business projects, which although can be classified as two separate projects, there are instances where two projects co-relate or compliment each other. One grows with the other one growing with it. So yeah be mindful of that too and be creative.