Tuesday, September 25, 2012

Working Multiple MLM's

Through my 33 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.

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.