MLM Businesses: Should You Have More than One MLM Business?
What are MLM businesses? And should you have more than one network marketing business at the same time? I define MLM businesses as someone involved with two or more network marketing companies at once. I’m not really big on the idea, but your situation might be different than mine. So, we’re going to take a few moments to help you figure out what’s best for you, so you can make an educated decision. Listed below are several questions you should ask yourself, BEFORE you decide to start an additional network marketing business.• Do the products compete with each other? If you are thinking about having multiple network marketing businesses, it’s a good idea to make sure the two different companies have different products. If their product lines are similar, it will only hurt your business. However, if one MLM business features weight loss products and the other business features skin care products; it could work. • Does your company have a “non-competitive” clause? If you haven’t already read your company’s rules and procedures, you should do so right now. Many MLM Companies have a “non-compete” clause which states that you can’t be involved with any other MLM Company while you are involved with their company. I know that sucks, but you don’t want to get involved with a second company, and then get booted by your first company for violating their rules. • Are you making money with your current company? If you aren’t making money with your primary MLM Company, don’t assume that another network marketing company is easier. It’s not. If you are failing in one company, you will fail in another company UNTIL you hone your sales and marketing skills. • Do you have a good mentor? In your current company, do you have a mentor who helps you? Are they successful? If not, I think it might be better to join a different company ONLY if your potential sponsor is a high earner and is willing to help you. • What is your ultimate goal? Is your goal financial independence, an extra $500 per month or something else? Personally, I think it’s easier to earn $100,000 with one company than it is to earn $50,000 per company, with two separate companies. When you work with one company you can FOCUS. When you have multiple businesses, you become distracted. • Do you build your business online or offline? If you are an online marketing guru, it’s probably quite doable to have multiple businesses. However, if you are building your network marketing business via old-school techniques, it’s much harder. • How long have you been involved in MLM? If you don’t have much experience in network marketing (less than five years) I don’t believe it’s a good idea to have multiple businesses. I think it’s better to FOCUS on one company and learn the ropes; until you become proficient at selling, recruiting and marketing. • How much time and energy can you invest into your MLM businesses? If you are already full-time in the industry, it’s probably pretty easy to have multiple network marketing businesses. However, if you have a day-job and are trying to balance your MLM business with your family life, free time, job and other commitments, I don’t think it is a great idea. • Do you enjoy network marketing? If you LOVE network marketing, you might consider joining an additional company. But if you don’t LOVE this industry, don’t join a second company. Once again, the decision to have multiple
businesses is up to you. The ideas I discussed in this article are simply my opinion. Although I do believe it’s important to have multiple streams of income, I think there are much better options than having multiple network marketing businesses. I think you’d be better off starting your own blog or website, and sell affiliate products, advertising space, and marketing programs. These opportunities offer residual income, in case your MLM income dries up.
New! CommentsHave your say about what you just read! Leave me a comment in the box below. Copyright 2010-12 MLM Resource Center / All Rights Reserved. All trademarks and copyrights are held by their respective owners FTC Disclaimer: I do earn commissions from some of the products I recommend This site is for informational purposes only and should not be considered as business, legal or financial advice |
