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  #21 (permalink)  
Old 08-11-2012, 07:50 AM
FreeElectricity's Avatar
Theresa Wilkins
 
Join Date: Feb 2012
Location: Upstate NY
Posts: 1,242
Default All Your Eggs in One Basket

Quote:
Originally Posted by EstherL View Post
One issue is belief. If you want to convince other people that business A is totally doable, can provide a long-term income for them, and is a great business opportunity, but you are doing business B at the same time, how believable are you? Will people believe that they, too, need to do 2 businesses at the same time in order to get the income they want? Also, where is your belief in the company's long-term viability? Again I recognize it's good to not "put all your eggs in one basket", but at the same time, if you are always feeling like you need a second or third business, then perhaps you really don't believe business A is really going to be around 5 or 10 years from now.

The second issue I have is that, more often than not, someone who has more than 1 home based business often is what I call a business hopper. They are always hopping on to the "next big thing" that comes around in networking marketing or direct sales. So one minute they're with Business A and B, the next with B and C, and so on. They are always looking for the one that's gonna get them rich, rather than sticking it out and being consistent with a real business. It's easier to do in home based business world than the traditional business world, because these types of businesses don't cost nearly as much to start up. But what kind of credibility does this person have? When I see colleagues jumping ship for the next "ground floor opportunity", they lose some credibility in my eyes, and I think, in the eyes of those around them. Again, I recognize there are times to change companies. I have done it - once. I won't be doing it again, because I know the company I am with is the one I want to be with for the rest of my life. But, I realize there are times that change happens. That's not what I'm referring to - I am more referring to the "serial hoppers". And again, I see this much more frequently with the people who are trying to build more than one business.
I understand what you are saying, but what I have come to realize is that today NO company is safe. Whether it's out in the brick and mortar workforce or online marketing or network marketing, and so I want to avoid putting all my eggs on one basket.

The leaders of Ambit Energy are amazing men of integrity and I am just in awe of them and what they have done with the company within the industry and the opportunity they have given to so many - HOWEVER what if one of them dies, God forbid, or some other unforseen circumstance? I of course hope that they both have great longevity in their lives, but what if something did happen and someone got into a position of power that did not think like these men think and do like they do? I hope that's a longshot and will NEVER happen. But I have been suprised at solid companies that have folded, lost large amounts of revenue, etc.

And so I was introduced to a couple of other opportunities that I enjoy, that I believe are solid and have integrity as well - which is very important to me - far above compensation plans. I did have to try a few things before I found them and I only joined wih people that I felt I knew pretty well and some of them stayed in other things that they got me to join, but I left, but sometimes the only way to find out is to get in. And of course I don't ask my best friends and family members to look at everything I do - only those that I'm sure of, like Ambit.
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  #22 (permalink)  
Old 08-11-2012, 10:05 AM
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Location: Arkansas
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John Doe really wants and needs something to earn income but realistically he can't afford business A. That means he doesn't qualify by most MLM mindsets. On to the next one right?

The problem with that in my thinking is that John at least exhibits willingness to put forth some effort, which is more than I can say for alot of people. I can show him business B that will get him to the point of affording and building in business A.

There's a whole lot more of John out in this world than there are of that person who most automatically think qualify. You can let John go or make him into a future money machine.

So to me it's not about balancing. More like providing what people need based on what they have to work with.

The issue with most MLM's is that of cross recruiting and you usually can't advertise one in the same place as the other. You get caught and most will boot you. If you have a good system, nobody in business A will even need to or ever know you are in business B or two MLM's if that's the case.



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  #23 (permalink)  
Old 08-11-2012, 04:40 PM
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Location: Nashville, TN and Puerto Vallarta, Mexico
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I think it's easier to do more than one program if part of what you are doing is a product that supports your other businesses. For example, maybe you have a business that promotes blogs or one that has hosting and tools or a marketing system that pays for referring other people to use their system. In that case, you can focus on building one main business and the other things might be just tools to support that business that also provide an additional income. Who knows, maybe one of those side businesses might wind up paying you more than your main business.
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  #24 (permalink)  
Old 08-11-2012, 07:22 PM
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Location: Syracuse, NY
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Quote:
Originally Posted by Charlie Little View Post
I'm crazy I guess. Going for 3 startups with different companies within the next year, starting in just eight days with Day1, that is if my system works like I vision it. I'll soon know in a few months. Next will be Organo Gold and then Restart. After those I'm getting my Mia Bella shirt back on since I'm out of candles and maybe Vemma. I think I can balance all of these with a single system. Sounds fun huh!
Young man I admire your resolve! Make it happen! Don't get burnt out though!
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  #25 (permalink)  
Old 08-11-2012, 07:25 PM
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I'm not even affiliated with the company but based on their teachings and products, it would sound like Empower Network would be a great company to get involved with as a second business as they teach people how to market and obtain leads effectively. Therefore, you can promote your main business and then follow-up with Empower which will be beneficial to your downline because now they will have the tools to create a successful business.
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  #26 (permalink)  
Old 08-20-2012, 01:36 PM
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Location: Oklahoma
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I actually brought in all my areas separately. I started as an independent paralegal about three years ago and, of course, worked my butt off. I only recently (May) put out a website. For a LONG time, I was primarily word of mouth. It was okay for side money...but not completely profitable. I didn't feel like learning how to market it properly. I don't know why...I just didn't.

Then in July I brought in my second business which is consulting and giving free marketing advice from a website. At that point, I had two babies to juggle. The ideas I came up with here, I applied to my main business.

Toward the end of July, I started with XPress...so that makes three babies..LOL I'm a glutton for punishment. I spend more time with it because the other two are fairly well set up. I get around 200 hits a day to my other two businesses and my cell rings close to non-stop for paralegal work. I am able to devote most of my online time to XPress.

So now I have about three hours a week I commit to advertising myself as a paralegal and I still have to turn work away on a regular basis. I market my other two businesses daily.

For me it was just a matter of finding what would work and not trying to do everything at once.
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  #27 (permalink)  
Old 08-20-2012, 03:25 PM
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Location: suburbs of Atlanta
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I absolutely believe in my company and their product line. It has taken tremendous time and effort to achieve the level of success that I have. Trying to balance this with a family and a life, I can't imagine taking on a 2nd opportunity.

That said, if it were company with a complementary product line that I believe in, I might consider it.
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  #28 (permalink)  
Old 08-21-2012, 05:04 AM
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Join Date: Nov 2011
Location: Alvin, TX
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Quote:
Originally Posted by DD2010 View Post
I am a firm believer of not keeping all of your eggs in one basket so to speak, especially when relying on income from working at home.

I know many people work with multiple companies. How do you manage this?

Thanks!
Dee
Just got back from Pink Zebra Reunion and Belinda Ellsworth was our speaker. Can I say Amazing! If you have never seen her definitely make it a point to!

I am a believer that to truly be successful with any company you must give it 100% for long term residual income, but if you are just wanting to make immediate income then yes you can do several different companies at the same time.

Just make sure to have organization and a set plan for each every day.

Instead of one hour broken down into 15 minutes at a time, make sure you do 2 hours and break them down for each company!
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  #29 (permalink)  
Old 08-21-2012, 06:01 AM
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Location: Illinois South of Chicago
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Quote:
Originally Posted by doTERRAmama View Post
I absolutely believe in my company and their product line. It has taken tremendous time and effort to achieve the level of success that I have. Trying to balance this with a family and a life, I can't imagine taking on a 2nd opportunity.
Amen to that! I don't even have the time I want for my main business baby!
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  #30 (permalink)  
Old 08-21-2012, 10:35 AM
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Quote:
Originally Posted by DD2010 View Post
I am a firm believer of not keeping all of your eggs in one basket so to speak, especially when relying on income from working at home.

I know many people work with multiple companies. How do you manage this?

Thanks!
Dee
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