Building Multiple Network Marketing Companies Simultaneously
Episode description
Over the years, I’ve watched countless people attempt to build multiple network marketing businesses simultaneously. And I’ve never seen a single one succeed.
At least not by my personal standards of what success looks like in network marketing. And though I’m working to Re:DEFINE those standards, it certainly doesn’t include hopping company to company, sometimes juggling two or three to make a quick buck before moving in to the next new hot thing.
Here’s why you can’t build multiple company’s at once:
One argument for building multiple companies is that it’s a great way to diversify your income. In reality, you’re not diversifying your income but rather you’re diversifying your effort.
It’s like dating multiple people at the same time — you end up with none of them because with your attention split multiple ways, you end up actually neglecting everyone.
Same thing with network marketing.
Simply being a part of a company doesn’t equate to income. It takes a tremendous amount of focused effort to build a network marketing business. If that effort is divided, you’ll never gain the traction needed to build any momentum.
Now, there might be the argument that with having more offerings increases your chances of having a product or service that people are looking for. It’s the Walmart and Amazon model — more stuff equals more sales.
You’re not Walmart or Amazon… especially if you’re still promoting the network marketing business opportunity as your primary unique selling proposition (which typically is where most companies still are).
The effectiveness of network marketing rests on the connection you make with your prospect and the service you provide. We succeed because we make an impact in people’s lives.
If you’re approach is to offer a suite of products, your prospect will know and feel like it’s more about the sale and less about helping them. Not that there’s anything wrong with sales or even salesmanship. That may lead to a couple of dollars here and there but it will never create the legacy type incomes.
Then there’s the argument that once you’ve built a solid business in one network marketing company you can move on and build with another. Sure. But if you choose to do this, I encourage you to build it from scratch with a whole new network of people.
“Well the products don’t conflict with each other so why not?”
The products may not conflict with each other but the interests do.
This is a natural tendency because what audience do network marketers have the easiest access to and influence with? Their existing network.
If you do this, it then becomes an obvious money grab and the relationships and communities you spent so much time nurturing are instantly devalued.
The easiest answer:
Learn marketing.
With marketing skill, you’ll never have ti tap into existing networks to turn a quick profit. You can in good conscience build multiple companies and have a diverse line of products and services you promote if you just take the time to learn how.
That’s what the Re:DEFINE Network Marketing event is all about. Happening May 4th - 6th, this event is going to absolutely revolutionize the industry and change the game forever
Stay tuned. Details to come
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