MLM Multiple Streams of Income

multiple streams of income from network marketing businessesIf you decide you want to work more than one MLM business, thus creating multiple streams of income, what is the best way to present yourself to prospects?

A friend recently asked my opinion about this. He is involved with two different MLM businesses that he is very passionate about. He was interested in creating a business card to have on hand when people ask what he does. He wondered whether he should put both businesses on the same card.

I don’t recommend trying to focus on more than one MLM business, because it takes quite a bit of effort and dedication to succeed with just one. Diluting your efforts like this can lead to a little income from multiple MLM products, but usually not a lot from any one of them.

However, I also recognize there are situations where you can have two non-conflicting opportunities and products that complement each other. This is the case with my friend’s businesses. One of them is related to nutrition and health, and the other provides tools to help marketers grow their business both online and offline.

My advice to John was to choose one of his opportunities as his primary, and put that on his card and represent it as his business, Working multiple opportunities isn’t really the best way to create multiple streams of income, in my experience.

MLM is a people business where you build a team and establish an identity, but offering multiple opportunities complicates things and takes the focus off the team concept. It’s a challenge to learn to lead one team successfully, much more so two or more.

There have been exceptions to this. Has anyone been around in MLM long enough to remember Gery Carson’s “C-Team” that was popular and successful in the late 1980’s and early 1990’s? This was an example of a diversified approach and the object was to attain multiple streams of income from two different MLM opportunities under one umbrella.

Initially, one opportunity was a nutritional products company and the other was an advertising vehicle (Money Maker’s Monthly, a newspaper devoted to MLM and network marketing). These two complemented each other, and were promoted under the one “C-Team” umbrella. You signed up for both opportunities and promoted them together, using some pretty slick and professional promo materials that Gery created.

This is one example of a portfolio approach to creating multiple streams of income that was successful in its time. It can be done, but most people wouldn’t have the resources to make this work on a big scale. Today, I believe the best path to success in network marketing is to choose one great company with a quality product that has lasting appeal, and put your eggs in that basket.

Sure, the company could go out of business, but the answer isn’t building multiple streams of income with different MLM businesses, but rather with building one business big and investing your money into creating income in other areas that don’t conflict or share the stage with your primary company focus. Make sense?

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Eldon Beard, Home Business Success Coach

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