Multiple streams of income

[wahm_in_mi]

Do any of you have more than one MLM business? How do you advertise, promote and work them equally?


I'm involved with Shaklee and Natural Family Boutique - two wonderful businesses that complement my main business (Motherhood Naturally, childbirth and new parent education and postpartum doula services). But, when it comes time to promoting, organizing, record keeping and monthly activity I'm finding it hard to manage as I should.


Those of you who do mltiple streams of income, who are you involved with and do you have organizational, advertising and general maintenence tips?


Is there a business planner/organizer made for MLM businesses, or could I create me own (can you share ideas?)


Sarah of Motherhoood Naturally www.motherhoodnaturally.com

[crisstar]

I do multiple businesses and it was probably the biggest mistake I could have made. I read books on network marketing where they warned that you can't build downlines in two companies successfully at the same time. I should've heeded that warning.[img]smileys/smiley5.gif[/img]


Multiple streams of income is building one business successfully at a time, then you go on to the next business. By having multiple businesses or even two for that matter, it is difficult to give any one business the attention, money, advertising and marketing it deserves.


My resources are now split due to my bad decision making. If I could do it all over again, I would just do one biz, get it going residually where i'm satisfied and then go to the next business and do the same thing.


Corrisa

[TonyRush]

Corrisa, like you, I read those same books and even applied their advice for a time. I've never met a top earner in any company who was also trying to build other businesses simultaneously. I've seen it tried by hundreds of people -- heck, I tried it, too -- but I've never seen anyone doing it.


Oh, I see people who HAVE two businesses. Or who SAY they're working two businesses. And it might be true that they're getting more than one check. But, if you look at the level of income they're attaining, I don't know that I could call them overly "successful".


But, this concept of "multiple streams of income" was never intended to mean multiple MLMs. The phrase was coined by Robert Allen in his book by the same name (Multiple Streams of Income). In it, he recommended real estate, investments, a network marketing opportunity, and other things.


In other words, he never recommended that people start multiple MLM businesses and try to run them all simultaneously. He was referring to someone earning income in multiple ways: collecting rent on an investment property; having money in the stock market earning a return; building an MLM business; using tax lien certificates, etc.


Today, I earn income from five separate streams. But, I only build ONE home based business: Liberty League International.


Tony Rush

[rhondap]

I'm with Tony.


I too earn an income from a few differernt streams but I am only building ONEhome basedbusiness, Ameriplan.


I feel you can not build more than 1 at the same time and give each the time, attention and financial investment it takes to grow and build them properly nad to the financial means that I would like.

[valeriemk]

I believe as the other achievers on this board that when you chase more than one rabbit, chances are that you won't catch either one. (Mary Kay Ash said that quote)

It all depends on what you want from the business. My favorite quote is
many desires, few results
few desires, better results
single desire, fantastic results!

[wahmommyto3]

I'd like to chime in that I thought I could work 2 businesses as well. Can't really be done. At least not 2 network marketing cos. I have since "let one go" not really quitting but not really working it. I work the one that pays--LOL. Show me the money!!


I think for me, the hardest part was accepting my first biz was not all I thought it was. Great company but all the right tools were not in place. Now I've found both and it sure pays off.

[happybrats3]

Boy will you be amazed at this! I work 6 businesses! One main company I really promote and make incomeand the others I now use for personal use. I have built uplarge teams with my other companies so I don't promote them too much.


In one year I have built up over 200 downline members for3 of these companies..the other3 I just use my personal discount for things.


Yes, I suppose I could have more if I concentrated on just one business, but I like the variety and they all compliment each other nicely. Plus I get just about everything free with my commissions and discounts.


I like having all these businesses, I can go to any demographic area and sell/recruit for whatever they would like. I tailor my advertising towards demographics and products. It's easy.


Tracey


http://ww.soycandlesarebetter.com Main income here!

[smbwallace]

Sarah, there is a new Shaklee folder on this board that you might want to check out.


Great website, by the way, and such cute kids! [img]smileys/smiley2.gif[/img]

[wahm_in_mi]

Thank you all for your input. I do appreciate it.


Thanks, btw, for the compliment Michelle :-)

[donnavaldes]

I have only met a few, VERY FEW, that were able to focus on two businesses at the same time. You know what they say when you have a foot on each side of the fence.... you spend more time sitting on it.


While many people, including myself, have built businesses in one company, and then will go one to focus efforts in another one, allowing the original company's leveraging to work. I continued to earn checks from my other company while I was building my current business. This only proves this industry is one of the best today!


Take care