How Many MLM Businesses To Promote At Once
A Controversial Point!
Now, I don’t want to upset any readers here as this is only my opinion – and my personal experience. There are exceptions, and YOU may be one of them.
However, I was discussing the concept of networking businesses (MLMs) with another blogger, James McAllister of HelpStartMySite, and he asked me a question that got me thinking:
“How many companies do people tend to promote at one time?”
And, from my personal experience, and from MLM training I’ve had (admittedly from MLM companies!) I had to answer that:
How many mlm businesses to promote at once“Successful people promote one business. Many unsuccessful people (which has included me in the past) try to promote more than one at once.
“There’s a saying in the MLM industry that if you try to chase two hares at once, you’ll catch neither!”
Of course there are exceptions and you can probably name some high-profile networkers who are successfully juggling two or three businesses and dominating the leader-boards.
But I bet they have a bigger budget than you and I, work those businesses full-time, and probably even have assistants working for them, just to keep all the balls in the air.
Also…. it may be that they have big teams who “follow their lead”, so the teams are doing most of the work at the coal-face, while the leader just hunts out the next “big thing” to move onto when those at the coal-face have have tired of not making enough money to cover their monthly costs.
Well done to them for having built up such a great following. They must be doing something right to have loyal teams.
I’ve been part of this movement, I’ll admit, but I’ve had enough of it now.
Promoting two (or more) businesses doubles your costs and the effort you need to be successful. Two sets of auto-responder messages, two sets of squeeze pages, two sets of “thank-you pages”, two sets of business cards, two lots of traffic to buy / find – and so on.
What would happen if you put twice the effort into one business? Especially if that business didn’t have monthly product auto-ship costs to add to your expenses….
If you have the time, money and a loyal team – sure, go for it.
But statistics suggest that over 90% of networkers can’t muster all the resources needed to make ONE businesses successful, let alone two. It’s a moot point whether people “fail” or “drop out”, but whichever term you prefer to use, if a networker were happily making a profit, they would still be in the business!
Shouldn’t You Spread Your Risk?
Some people may fear that it’s too risky to put all your eggs in one basket – i.e. promote just one business. But all business by its very nature is risky. Over 90% of conventional entreprises fail too. At least with MLM the cost of failure should be manageable.
But who wants to fail? So here are three ways to minimise that risk:
- However tempting they appear, steer clear of start-ups. They have a higher risk of failure in the early days. Go instead for a company that has a successful track-record of paying out affiliates over several years.
- NEVER let any MLM business be the sole keeper of your list of contacts. ALWAYS add people first to your own auto-responder, and maintain a good relationship with them. My favorite auto-responder is GetResponse – take a free trial here.
- Choose a company with achievable sales targets, so that if you need to take a break from promoting and purchasing due to pressures of work, time or money, you can leave the business for a few months and return when it suits you, having retained any rank you achieved before your break and continuing to earn from work done earlier.
Premier Cashback As A Second Business
That said, I’m very happy attracting people who are already promoting another MLM, because they only need to make one purchase to qualify for life with Premier Cashback.
So if they later abandon their original business (and most do, because of tough sales targets and costly, monthly auto-ships) they may then decide to promote Premier Cashback – and their earlier purchase will have put them some way along the route to cashback rewards.
Get Rich Quick – Or Slow?
Are you familiar with Aesop’s famous parable about a race between a hare and a tortoise?
Check it out on the link above if you’re not familiar with it. The rough message is:
“Slow and steady wins the race”.
For those who apply consistent and steady actions, and don’t get side-tracked from the original aim, reaching that target will happen faster.
Success with Premier Cashback is a goal well worth pursuing.
Are you a hare or a tortoise? How many businesses do you promote at once, and how has it worked out for you?
Answers in the comment box below please.