Should You Build Multiple Network Marketing Businesses?
So, you probably heard that it’s a good idea to build multiple streams of income by joining multiple companies.
After all, many other product sellers are doing so – they sell multiple brands of products from different suppliers. Look at the pharmacies and shopping malls, they are earning good money (assuming it’s good money) by selling multiple brands of products. So this logic should work well in network marketing products too, right?
Well, it really depends on what your income goal is.
If your goal is just to make an extra few hundred dollars for the short term by selling products, then, yes, please go ahead with selling products from multiple network marketing companies.
However, if your goal is to build a long-lasting business with true residual income, then focus on one.
7 Reasons why you should not build multiple network marketing businesses:
Reason #1: Network marketing business success is not based on product selling
Yes, product selling is important as that’s how the company rewards you financially. More sales volume will reward you with more income.
However, the sales volume is not coming from your own effort. It’s the effort of your entire team. Thus, your business success in this industry is based on how you build your team – a team of customers and business builders that loves the products and also the business.
Network marketing business success is not based on product selling, but on how you build your team. #workfromhome #homebusinesstips #networkmarketing Click To TweetReason #2: You are sending a confusing signal to your market
Well, as a human being, it’s hard not to have favouritism towards one particular brand. Your potential customers may be looking for a product brand that is different from your favourite brand. But when you recommend them to other brands of your favourite, you will most likely lose your customers.
Reason #3: You are dividing your passion, time and effort
It takes passion, time and effort to build just one network marketing business. We all only have 24 hours.
Building multiple network marketing businesses will spread yourself so thin that you won’t be able to stay focused on anything. This is especially true if you are already busy with your current commitment such as a day job and your family with young kids.
To succeed in anything, staying focused is the key. So, choose one company to stay focused on.
Reason # 4: You are building a weak business team
When you are joining and using products from multiple companies, your downline team will do the same to you.
Your main residual income should come from your team sales volume. But now that your team is also spending their money on other companies’ products, they won’t be consistently using products from your companies. And this will directly affect your team’s sales volume.
Not only that, but you are also showing a bad example of no loyalty to your team. And they will do the same to you – no loyalty.
But hey, loyalty is one key to your business success. Do you know that?
Reason #5: It makes you look unsuccessful
Ask yourself, if you are already doing well in one company, why would you want to join another company? Only when you are not making money from your current company, then you will join other opportunities to try your luck. Right?
That’s exactly how your potential prospects look at you when you are joining multiple network marketing companies.
Reason #6: It badly affects your trust and reputation
People join those that they can trust and follow for a very long time. If your prospects see you joining multiple companies, it’s really hard for them to trust your leadership. They will be wondering how long you will stay with them if they do join you. They will be wondering when are you going to leave them and work on other companies instead?
Once they start thinking about all these questions, no, they won’t feel secure to join you.
Not just that, your upline leaders will not trust you too since you show no loyalty to them. Therefore, they won’t put in their time and effort to help you succeed.
Reason #7: You don’t build multiple streams of income by joining multiple companies
It may sound clever that you can build multiple streams of income by joining multiple companies.
But no.
You don’t build multiple streams of income by joining multiple companies. In fact, you are building multiple streams of income by recruiting, developing new leaders and customers on your team. You build loyalty – the loyalty that constantly brings in new customers that loves the products and also the business.
You can then use the income that you earn from your network marketing business to invest in stock, properties and so on to grow even more multiple streams of income. That’s how you do it.
In conclusion, carefully evaluate the products, income plan, company and the team you are going to join. From there, make a decision to choose only ONE company.
Bonus Tips:
If you truly want to build a long-lasting residual and passive income, it’s important to know how to choose the right company with the right products or services, and also about how they reward you financially as you work on your business.
(Photo Credit: Domenico Loia on Unsplash)
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