Do you have additional sources of income besides your mlm? It’s said that most millionaires have at least seven streams of income coming in.
Here are three ideas for side income outside your network marketing company to help get you started.
Build Your MLM Online
If you just started building your network marketing business, there is a good chance you were told to make a list of your family, friends, co-workers, basically anyone you know that is breathing. While I highly suggest that you do this, there are a few key things you need to keep in mind.
The list of people you know is going to run out at some point, most of the time sooner than later. So what are you going to do once you get to the end of that list?
Well, I was in that exact position when I came online a few short years ago looking for ways to build my business using the internet. What I found was a way to position my products and services in front of people who already like the network marketing profession. All of this is done using a little secret that all top earners online use.
The secret is attraction marketing, and you can learn more about it by going here.
Should You Build Two Network Marketing Companies?
One of the best views on building two mlm that I’ve come across was from Ray Higdon, he broke it down like this, building two mlm is like trying to be a pastor at two different churchs. For example, on Friday night you are preaching at the Catholic church and on Sunday’s you are at the Baptist church. Can you see how that will confuse your team? But let’s take this a little farther.
If you are not making any type of money in your current mlm, joining another company won’t solve that problem. It all boils down to your skill set. Once you learn how to prospect and talk to people, the sky is the limit. You need to work on yourself more than you work on your business.
Confusing Your Down line
Like I mentioned you will confuse the heck out of your down line and they will think they should do the same thing as well. What usually ends of up happening is you have this team of people spread out all over different companies and nobody is doing anything. Put 110% of your efforts into building just one company.
Besides confusing your down line your distributorship at one or both companies will more than likely get terminated once they find out. So at the very least if you are entertaining the thought of joining two mlm, make sure you read the fine print when you go to sign-up.
I recommend that you do NOT join more than one network marketing company and try to build a business.
Building Income Outside Your MLM
Now I know what you are thinking, why on earth would you want to do anything outside of your network marketing business. Well there are a few reasons.
So let’s say you’ve built up a nice check inside your network marketing company and they decide to change the compensation plan and now your check has been cut in half. Or even worse if they were to get shut down.
Now I know you want to think that nothing will ever happen to your company but the reality of it is having all your income just from your mlm is a bad idea. You want to have different sources of income. So in the event that one goes away or something happens you won’t get caught in a bad situation.
I’ve personally experienced getting kicked out an mlm and let me tell you there is no worse feeling than trying to log into your back office and can’t and you call up the customer service department only to find out your account has been terminated.
Luckily during that time, I had a full-time job. But I’ve seen it happen time and time again where people put all their eggs in one basket with their mlm and something happens and they are left scrambling.
That’s why you should NEVER brand your company but brand yourself instead and have other ways that you can make money besides your network marketing business.
Some additional trainings for you:
13 ways to generate leads online Free audio teaches you 13 ways to generate leads online.
In the video below I talk about three different ways on how to make side income from home in that wont interfere with building your mlm business!
Video: Side Income Outside Your Network Marketing Company
Was that video helpful? I can’t stress the importance of having multiple streams of income enough. Let me know in the comments below if you plan on moving forward with setting up some new streams of cash!
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P.S. If You Could Use More Leads, Reps And Money For Your Business You Might Want To Take A Peek At The System I Have Been Using- Click Here For Access!
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