Network Marketing - Should I Join More Than One Company?

You should definitely have the mindset of 'multiple streams of income.'

Understand that MLMs come and go in this industry all the time.

It isn't unheard of that people have depended on the checks they are receiving from their MLM only to have their company go out of business a year or two later.

Don't Put All Your Eggs In One Basket!

Promoting only one company means that the residual income from your opportunity is just one source of income for you.

You really should think of your opportunity as just one of several products that you have to offer customers.

Ann Sieg, a well-known and respected international business coach says in her ebook, The Renegade Network Marketer, "It's almost a mathematical impossibility for the average distributor to grow their business and turn a profit fast enough."

Sad but true, many people have to give up their dream of building a successful home based business because they run out of money. The sooner you generate a steady income, the better for moving your business forward using the marketing tools needed for long-term success.

It can be an advantage to market products similar to each other. This way when you build your own personal website (do not rely solely on a company replicated website!), your site theme can flow smoothly from one product to another.

By including several products on your personal website, your potential customer has the opportunity to purchase whatever fills their need. It's monetization at its best!

Learn about affiliate marketing.

There are tons of products available on line that you can become an affiliate with and earn commissions just by having your affiliate link for a particular product on your website, blog, newsletter, or other forms of marketing.

Speaking of websites, I love SiteBuildIt!

SBI! is the all-in-one, site-building-hosting-and-marketing system of software tools that delivers success. Read why by clicking here.

SBI! is a tremendous supporter of building a healthy, stable business that will bring in multiple streams of revenue and teaches you a variety of ways to monetize your website.

It depends...

Personally, I think it is best to join one opportunity at a time and learn all of the ins and outs about it before joining another one. Eventually, you really can have any number of opportunities (lots of eggs in your basket...).

Be sure you utilize your companies training to learn about your product(s), and if your goal is to build an organization, you will need knowledge about the policies, compensation plan, and other pertinent information.

If you are new to the MLM industry (and even if you're not), I strongly recommend you get an education about building a home based business before you even join a company. It really isn't as easy as 'they' make it sound. But, it also isn't difficult to learn how to become a successful network marketer.

I recommend the book, The Renegade Network Marketer. It sold well over 2 million copies in the first year it was launched.

With the purchase of the Renegade e-book, you also get a whole backend affiliate system that provides you with your goal of multiple streams of income.

Then, do your homework before joining any network marketing company.

I like to Google for reviews of products or organizations. You should not go strictly by the reviews on the company's website. I understand some company's will post positive reviews on their own sites, sugar-coating the review, of course.

Also, don't necessarily go by one or two 'bad' reviews. Given there is a 95% failure rate in the MLM industry, there are any number of people who have failed and put the full blame on the company, when it most likely was a lack of time, a marketing budget, not enough people to contact, and a lack of skills.

Besides any business start up costs, many company's require a monthly 'autoship' to remain a distributor, some even to receive any residual earnings or commissions. By all means, don't join a company whose autoship is beyond what you are able to pay until you start making a profit.

Finally, your decision of whether or not to join more than one company also depends on how much information your brain can handle at any given time. Too much going on at once can get you going in so many different directions that you literally don't get much accomplished at all!

Some people are able to digest information quickly and hit the road running. Be mindful of your own personal limitations.

To learn more about The Renegade Network Marketer, just click the book below:

Evaluate and do your homework before joining a MLM.

A great place to start is by reading the free report, The 7 Great Lies of Network Marketing," written by Ann Sieg.

Then determine...

Is there a real vision - from the starting and finishing point of the company plan? Is the plan realistic or hyped up?

Remember, the hype is there to get you excited and wonder why you didn't get into this business a long time ago, and gosh -- just think of all the money you'll be making!

Is there a promise to get rich quick?

Realize it does take time to make a significant profit. It can take 2 - 3 years to earn a six figure income in residual earnings. This is the reality, especially if you are working your business part-time (8 - 10 hours a week).

With the arrival of 'attraction marketing,' the MLM industry is exploding like never before.

Many marketers are making thousands of dollars at a much faster rate than before when using traditional marketing methods. If you really want to accelerate your profitability, learn attraction marketing.

Does the business require personal effort? (It should.)

It's ALL about the action - your action. This is what creates results. It won't happen without effort.

Don't be fooled by the "no selling - no recruiting" hype.

Think about this - if it didn't take action on your part, why would the company need you?

Any time you come across a business that tells you that you can make a ton of money and there is no recruiting or selling involved and anyone can succeed... it IS a fake!

Learn if your potential opportunity has a 'conflict of interest' clause in their policy.

This is critical!

Personally, I would never join a network marketing company that doesn't allow you to promote any other business.

Sometimes the policies are vague. Even more than that, I know of a network marketing company where several successful marketers literally lost sizable down lines because of some bogus, made-up violation of their distributor agreement, all because that company felt they were paying them too much and wanted their monthly check.

Don't believe this happens?

Just check out the DRA (Distributors Rights Association) at www.MLM-dra.org to see more examples like this. They even have seven different categories for the types of terminations that companies will use in order to "acquire" organizations from high earning distributors. One of them is personal conflicts.

It's important to note that there are tons of legitimate, reputable companies in the industry who have the best interests of their distributors in mind. The scams and fakes are the exception, not the rule.

The safest way to avoid these kinds of things, as well as your company going out of business, is to have your own list.

Learn from Mike Klingler, of Renegade Professional, how he built his first list. Click the icon below.

Just as important as knowing how to promote your products and services is how to promote yourself.

If there was one main theme of The Renegade ebook, it would be this: "Your business needs to be centered around you so that you have complete control over it, and in order for you to make as much money as possible, you need to develop your own business assets." (Ann Sieg, The Renegade Network Marketer.)

People are looking for solutions. It is only when they feel that you have the solution to their problem will they be interested in you or your product.