WINNING MLM

MLM Training – When to Develop Multiple Streams of Income

I’ve made millions in network marketing, I’ve made millions through investments, and I’ve also lost a lot of money too. Profit from my mistakes and learn how to best invest the money you make in your MLM business.

Network Marketing professionals often ask me how to manage the profits earned from their MLM income.

Can you make more money by diversifying into investments such as stocks, bonds, real estate, etc., and have your money working for you in other areas besides an MLM business? Or would you make more money by really focusing and investing your money back into your MLM business?

There are three items to think about when answering this question for yourself.

A. What else would you do with your time?

B. What else would you do with your money?

C. What else would you do with your attention (definition: the ability or power to concentrate mentally)?

Every investment (stocks, bonds, real estate, your sister’s business) requires that you learn about it. And just the learning costs time and attention. And it is the using up of your attention that rarely gets factored into the “diversify your money” advice.

Probably what’s most important here is, the greatest amount of money you will ever lose, is that amount you will never make because of misuse of A, B, and C from above.

I was listening to a radio talk show about 10 years ago and the advice given was to “Select the top three stock market sectors based on trends. Put one-third of your investment capital in each. Wait 10 years and you should be wealthy off your passive investments.” I was making about 50 thousand dollars a month above my expenses – so I thought, “Why not?”

I chose the following sectors: Health Care, Technology, and Telecommunications. After losing about half of my money I changed to three different sectors. I looked at my portfolio today and I have lost another $11,848.78.

Don’t get me wrong; there have been times I’ve made over $50,000 dollars in the stock market in a day. Fun! And there have been times I’ve lost $150,000 dollars in a day. Not fun.

In addition to that, I’ve spent an enormous amount of time on my “passive” investments. Many hours (per week) have gone into “pondering” (wasting item C from above) what the stock market is going to do next. Reading newsletters, magazines, newspapers, watching the stock market news and commentaries on TV. And still my return has been negative.

The only thing that has remained very stable and predictable is my network marketing income. Had I taken the same amount of money, roughly $500,000 and invested it into promoting my MLM home-based business would I have had a greater return? Yes.

So what about the “Rich Dad Poor Dad” philosophy of “Buy assets that produce more income?” Or the more common way it’s stated, “Create multiple streams of income?”

As you may know, I created a prospecting tool based on that philosophy where I explain to prospects how wealth is created by investing in assets. So I’m very close to this subject.

However, if you listen closely to the way I stated it in the online movie, I say, “So what are assets? Well the most obvious ones are: stocks, bonds, real estate…” Then I say, “…education and businesses.” And to that I’m referring to educating yourself about businesses. Whether that be your MLM home-based business or your pinball machine business.

Two common mistakes in making decisions on A, B,and C from above are:

1. Making decisions based on now vs. decisions based on future. Of course you need to pay your bills now. They’re screaming at you! But keep in mind what I talk about in Brilliant Compensation – it’s not faster (in the long run) to tie your young son’s shoes than teaching him how to do it himself. If you tie his shoes for him you silence the screaming urgency, but you’re still stuck with the job UNTIL you teach him to tie his own shoes. When you make financial decisions make sure you’re looking at the long-term. Residual income that can be generated from an MLM business is sweet.

2. Making decisions based on “could you” instead of what you “will you” do with your time, money or attention. Example: A guy determines that it’s a poor use of his time and attention to mow his own yard, so he hires the boy down the street to cut his grass. Now, what does he do with that extra time (A), and the extra attention (B)? He watches TV. Bad choice. When he was making the decision to hire the lawn boy he thought, “It’s a waste of my time to mow the grass when I could be doing more important things like building my MLM business.” Make sure when you free up any of the three resources you use them wisely.

Summary: My personal opinion is invest your time, money and attention into KNOWING your MLM home-based business and getting really good and profitable at it. Find and study MLM training that is proven and effective, and master it.

Continually reinvest your profits back into your network marketing business by promoting it more, that’s where the high return is. When you have a surplus of income, buy a secure investment like Treasury Bills, until you’re ready to learn another business FULLY. By business I’m including all investment activities as well. Then focus your time, money and attention (from the surplus only) on knowing THAT business.

From my experience, diversifying my money has done nothing more than dissipated my focus, which has in turn lost a lot of money, time, and attention.

About the Author

Tim Sales helps network marketers gain the confidence and skills to be an MLM success. Learn how to become a true network marketing professional and sign up for his free MLM training newsletter and listen to free training at
www.brilliantexchange.com

Tony Robbins “THE MLM RADIO SHOW”

Multi Level Marketing Or MLM: ”The Best Way To Financial Freedom”. Fact Or Fiction?

So is MLM the best way to financial freedom? Well, before we can answer that question, we need to talk about what MLM really is. Multi Level Marketing is not something new. It has been around since 1965. Nowadays MLM represents around 0.5% of total US retail sales.

MLM stands for Multi Level Marketing. This is where you get paid for selling products for a bigger company. You also make money of what people under you are selling, or the people that you get to join the MLM as well.

The company is willing to pay you a little bit extra for what the people selling under you are making, because overall, you are making them a lot of money. If you get involved with the right MLM, then yes, it can be a good way to get to financial freedom. However, before you go running out the door to join one of these groups, there are a few things that you need to keep in mind.

First of all, there is a difference between MLM programs and pyramid schemes. Although it can be hard to tell at times, there is a big difference. Pyramid schemes are not really offering any products to sell. All you are doing is getting people to pay sign up fees to join this pyramid scheme. However, with MLM you have actual products you are trying to market. To tell the difference between an MLM program and a pyramid scheme, you have to look and see if there is a sign up fee. A lot of times the pyramid scheme will make you pay a sign up fee. That is because they are not really selling anything, so the only money that they are getting is by getting people to sign up. With an MLM a lot of times you get to join for free, because you only make money off what you sell.

There are a lot of companies out there that are kind of like MLM programs. This includes such things like online survey companies, Avon, and Mary Kay. Although some of these places claim not to be a MLM business, they have all the makings of one. You get money off the products you sell, and you get money off the people that sell stuff under you. If you know what you are doing, then yes, a MLM program can give you the financial freedom that you want and need.

However, most often than not, the MLM businesses are just a way to make some extra money in your spare time. A lot of times people find that they are not worth it. Of course, there are people out there that make a living doing it, so it’s really up to you to choose for yourself. Like any form of other business MLM marketing requires you to work hard and steady. Like I always said there is no free lunch! So don’t waste your time with MLM unless you are serious about it.

To Your Success!

About the Author

Do you want to learn more about Internet Marketing? I have just completed my brand new guide to Search Engine Marketing Success: ”How To Consistently Drive Thousands Of Targeted Visitors Every Day With Search Engine Optimization”. Download it free here:
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Serge Daudelin is a
Search Engine Optimization
specialist and consultant who has written over 300 articles in print and 5 published ebooks.

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