There is a segment of the Network Marketing industry that today still promotes this concept of Multiple Streams of Income…. The pitch is that you cannot rely on just one income just incase one company goes out of business etc.. therefore you need a plan A and a Plan B company.
In theory it is a logical concept, lets dissect this…
I am now in my 31 st year of this great industry of Network Marketing so for 99% of my adult life this is all I have done as a career…. I have never met someone or seen someone who has succeeded building 2 network marketing company’s to success and keeping that success over a long period of time. I call that a clue…..
There is a number of reasons for this…..
#1 is focus.. Years ago I was having Archery lessons and had a hard time hitting the centre of the target. The instructor came over to me sensing my frustration and told me that I needed to quiet my mind and just focus on the target. Well it did not take me long after this advice to hit the centre of the target… I tapped into the Power of Focus – what we focus on the most in our life we will attract. Building 2 Network Marketing company’s at the same time takes away from our focus creates challenges in what business should I share with this person? Other Growth challenges would include our time and when we should focus on X Business and Y Business. Success in Business takes 100% all in attitude and focus without it you will never succeed.
#2 Organization. If you have your organization doing more than 1 company it will become disastrous for most people it is so hard for them to create habits of disciplines that distractions for the masses always win. Building 1 company and getting to the top takes a 100% commitment of focus and daily disciplines. Without it failure is sure to be the end conclusion.
#3 Leadership…When you build a sizeable organization in leadership people are always watching what you do… Belief in a product , the leadership, the company, the business model is critical for an organization to flourish so if the team members see their leaders building other company’s in the industry it will strike at the heart of belief & so many negative questions will arrive from this.
A good example of this is occasionally my social media profiles are duplicated by unscrupulous people and immediately due to the size of my organization and reputation as a leader I get text messages notifying if I was the one that sent that message regarding another business… These people know 100% I would never do such a thing however, let’s say if that was the truth immediately it would squash the belief in my company. Belief Questions would arise why would Joe join this company, whats wrong with the our company etc…..
Another great metaphor would be that you and your spouse build a beautiful family and he/she finds out that you have another family that you have been building at the same time what do you think will happen? The Foundation of Belief, Faith, hope the Dream of a future will all disappear.
I will end with a true story a number of years ago I enrolled a very talented leader in the industry he ticked off all the boxes in terms of a person that could be an incredible long term successful distributor. Due to his previous experience in the industry he was with a company that he hit one of the top ranks and build a sizeable organization, eventually that company imploded in the markets he was doing business in and failed to pay him tens of thousands of dollars in commissions. So he bought into the multiple streams of income mindset where he needed a Plan A and a Plan B company, to prevent this from happening in the future.
I sold him on my company that we would open in the markets where he had the most influence. Despite me knowing he was participating in other company’s my plan was that I was going to influence him enough where he would buy into my philosophy. As his organization started to explode I had numerous conversations with him about his other company’s and that he needed to make a decision on focus and that when his leaders found out he was doing something else it would create many leadership challenges. He responded that he was a professional and he knew what he was doing no body would find out…
Sure enough his team leaders started to contact me and let me know about his other business and they were upset. They did not want him in their market again that they were worried if others in the organization would take on that philosophy in building and it would destroy their business.
Make a long story short we had our last conversation on this topic by that time it was too late as the company needed to enforce the policies (Ultimately this is where the multiple streams of income concept ends..most all company’s in the industry have strict policies for leaders with this type of behaviour any complaint about cross recruiting or any sniff of it company’s will enforce the policy) as there was some overlap which he desperately tried to prevent on cross recruiting…
A year later he had messaged me that I was right and he had understood now the consequences of this Multiple streams of income mindset and it did not work got to be 100% focused on going to the top in one company…. That organization by the way has done millions in sales.
My definition of what is ” True multiple streams of income” is take your income you are making and reinvest into your business, into safe proven stocks and bonds, other assets like Real Estate… This is what I have done very successfully to create more income streams…..
I hope this was of value to you!!!!
Joe