Tuesday, August 18, 2009
How Not to Create Multiple Streams of Income
I just read an article by an mlm guru. The guru stated he believed in multiple streams of income because at least four mlm companies had failed him in the past. Did you get that? Four network marketing companies failed him. In fact, he said that the owners of the first company he joined were not the type of people he wanted to be associated. His second company was a start-up company that ran into legal issues after the very first year. He only joined that company because of their proprietary, cutting-edge products. The third company switched from multi-level marketing to direct sales, thus, eliminated the multi-level compensation plan and thereby cutting their commission checks by 90%.
For this reason, he always has more than one network marketing business going so as not to put his eggs in one basket.
His experiences are not unique to network marketers unless they have a crystal ball. Okay, there is no such thing as a crystal ball. Oh really. I beg to differ. The Mentoring For Free Training & Education System is just that. Mentoring For Free teaches you exactly how to know that you know that you know if a network marketing company will fail you. We teach you how to determine if the mlm company owners have integrity (a company that changes from mlm to direct sales does not have integrity.) We teach you why to never join a start up company (too risky as most start-ups never survive past two years). We teach you that having proprietary, cutting-edge products should not be the main reason to join a company. While I agree with him that nothing is ever 100% guaranteed, there is a way to know if you at least have a chance to create residual income in a work at home business that will last for years to come.
These are only a few things we teach at Mentoring For Free.
While I believe in multiple streams income, I don't believe you should have more than one mlm business at a time. If you do, where do you focus. If you do, which product or service do you promote. If you do, will anyone take you seriously? Our heavy-hitter guru feels that all you need to do is use an automated downline builder to generate leads and sell your products and/or enroll your new distributors. Then all you have to do is focus your energy on training your new affiliates after they join you in business. He hasn't realized that network marketing is a relationship business and people generally do business with people they know, like and trust.
What about you? How do you feel about multiple streams of income? As I mentioned, while I believe in multiple streams of income, working more than one network marketing business is not how to create those multiple streams.
Be empowered to prosper!
Irma L. White
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