Should You Diversify Your Network Marketing Efforts?
60MLM Network Marketing Business
If you have been in network marketing for any length of time you have probably already been approached by another network marketer about joining their opportunity.
Why would you want to join a second MLM opportunity?
Many network marketers will suggest to you that you don't want to have all your eggs in one basket. That by having a second MLM Network Marketing business you are assuring your success. They may even use the analogy of diversifying your investments, like you would with the stock market.
Successful Network Marketing is NOT the same as the stock market.
The stock market is a passive investment of your money. You put your money into the stock and let it sit there. Hopefully you will earn dividends and that the stock grows in value. If not you take a loss.
With network marketing you are starting YOUR OWN business, which is anything but passive. You are investing your time, effort and money. Your MLM Network Marketing business will usually take more time and effort than money. You must be an ACTIVE participant if you expect to have successful network marketing business.
Would you really want to try to manage two or three different businesses at the same time? It is unlikely that you would be able to manage them effectively and probably all would eventually fail.
Besides, once you get to the point where you are making a full time income, or better, do you want to spend your extra time with another business, or would you rather spend that time with your family and friends?
With your network marketing business you also have a responsibility to your downline. MLM is about personal relationships and not about leading people from one business to the next. Network marketing is not a game of leapfrog!
Your conviction to your product or service and the success of your downline is your number one priority.
Successful Network Marketing
As a Network Marketing Coach, I would have to advise you against diluting your efforts. It's just not going to work out in the long run.
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Comments
Hi David,
Great points made here. There are so many offers being thrown at us all the time. Put your blinders on, focus and stick with the business of your choice. Don't jump around. Find a business that has something you believe in and just go for it.
With all the help on the Internet these day's, you can be successful in ANY Network Marketing business. If you're new to the world of Internet Marketing, find a coach to help you along the way. David here, would make a great coach. He has the knowledge and experience to guide you along the path of Internet Marketing.
Michelle Moseley
Totally agree. It's often challenging enough to reach the top pin title in 1 company and max out the comp plan. It will take years of total dedication and focus in 1 company, on 1 plan, to be wildly successful with the opportunity.
As for the stock market analogy, I prefer Warren Buffett's advice,"Put ALL your eggs in 1 basket...and WATCH that basket!"
I guess Buffett's advice applies to network marketing as well.
Willy Lim<a href="http://www.financially-free-advisor.com">The Financially Free Advisor</a><a href="http://www.internetwork-marketing-asia.com">InterNETwork Marketing in Asia</a>
Good point to consider. I do feel there are exceptions - like when two opportunities compliment one another or serve two different passions. Many successful entrepreneurs have their fingers in more than one pie. However, I think your most important point - the obligation to lead your downline to the best of your ability is extremely valid. If you can't do more than one job well, you owe it to your team to devote your time and efforts to them first. Thanks for another insightful hub.
Hello David,
I agree with your article, David. We have to concentrate on one business at a time. Also, have a passion for it.
Great Article!!
Donna Wells
Great Hub! Good Post too. I do agree with this. This holds the great stuff and ideas.. Thanks
Jason Parker says:
16 months ago
I completely agree, it takes focus to build a successful business and when you start spreading that focus to thin, all things suffer. Great point of view to re-visit.