FREEBUSINESSES
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Joined: 15 Oct 2009
Posts: 408
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#25 · Posted: 12 Sep 2011 08:49
Interesting,
This has been a big debate for years, and in my experience, having owned a traditioonal business, as well as several online businesses, it all depends on the person. There is no such thing as a black or white yes or no anwer in my opinion.
As example, I had built my business on referrals, and always provided the best of customer service and the best savings without sacrificing the personalized service and always treated my clients as if they were my only clients. Of course, this is old school and a given when you are in a professional business where clients expect more.
The point is, it all depends on the business and the owners experience level. When I started my first business, the first few years was a learning experience, what marketing works best, which doesn't, what people are best to hire, which are not, never mind cultivating referrals by going the extra mile and rewarding my customers with incentives and rewards for their referrals. So as you can see, there are too many variables to say yes or no to more than one business.
When the first recession hit the economy, and all businesses started to feel the losses, you either think outside the box or you go out of business, so I chose to add services which would appeal to my professional client base, and it worked. One lesson I learned is that it is far easier to offer more to your existing clients than it is to establish new customers, so this was my first experience with owning more than one business, and it worked out great for me.
When I saw the market trends changing, I moved my business to online, so again, it depends on the business. As one who has always been aware of the power of leverage, just as I learned how referrals are similar to compounding, if done right, it will grow your business, just like in the network marketing arena which depends on this leverage. Online businesses are easier to work more than one business at a time, much easier in fact, so this is exactly what I have been doing well before it was considered wise or not by the old timers. Think about it, what does any leader want, they want you to focus on their deal, not split your effort between two or more for they end up losing money, simple, so who do you believe?
Again, it all depends on the person, just like most people like the structure of a job, one task, easy route, etc., others like myself get off on the challenge of doing it my way, as in, being an entrepreneur, so to each their own. I don't say working more than one MLM is the best idea for most, but as we see on this thread, it is more acceptable now than ever, but how many companies have gone under for various reasons, or changed compensation plans, etc.? I got burned when a telcom decided to drop independent network marketing agents division when new management came onboard, and people like myself lost a six figure income overnight. Thankfully I still had my traditional businesses and this was my third business which I brought in under my umbrella of services, so lesson learned, never put all your eggs in one basket. I am sure that is familiar phrase to everyone. lol
Bottom line, I believe is working more than one, and once burned, I would never rely on just one business, company or product or service as too many things change in the market day to day, year to year. Another example, what is hot today is not guaranteed to be hot tomorrow. Telcom is perfect example, land lines and public phones are long gone as far as profits go, never mind demand. Mobile smart phones have superceded the former, just as they are now superceding PC's, the markets are forever evolving. Look at the severe economic collapse, who would have thought home values would tank, fortunately, I did, and adjusted my focus from mortgage broker to helping my clients save their homes from foreclosure. Who would have thought that millions would be facing foreclosure, unemployment over 9.1%, and how many business owners were prepared? Not enough sadly, and now I am doing commercial foreclosures, so never say never, be prepared, and always plan on having more than one business is my best advice, well earned advice from years of experience in traditional and online businesses. By the way, online is far more profitable and far easier than my traditional businesse ever were. lol
Success to all,
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shannontaylor
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Joined: 18 Apr 2012
Posts: 3
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#29 · Posted: 25 Apr 2012 14:57
I don't see a problem with having two MLM business. I think the key is balance. You need to find two products that can work together rather then competing. What I mean by this is find two products that complement each other or rather a product that you can use to sell another product. I'll give 2 examples so that it makes sense!  For example if you are going after the health shake market, Vi for example, it would be a natural fit to choose another beauty product to "complete" your look. You could almost sell them together because they compliment each other. Now next option is to find a product that you can use to sell the other product, and I mean this literally. Like the company I sell, YouDazzle, is a online file sharing and collaboration tool. Meaning I can share files, conduct web meetings, screen share, and view analytics. Now what I do is I use the features such as web meetings to meet with clients to not only show off this product but another another product. I could show the different types of options for one product like health food shakes while showing off the features of YouDazzle. I can even screen share to walk them through the sign up process of one or two of the products I am selling. It definitely can be tough to juggle multiple jobs let alone multiple MLM opportunities. You just have to think a little outside the box in order to accomplish 2 MLM's I feel!
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