Are You Hoarding MLM Businesses?

There is something that has had me scratching my head for awhile and wondering about the thoughts that go through people’s minds. Some business owners I have met are running multiple mlm businesses and sometimes in addition to a full time job. It is one thing to want to maximize your earning potential but how many is too many?

Although it seems like a good idea on paper, running multiple mlm businesses is actually counterproductive. First, you are splitting up your time, energy and resources between multiple projects. That’s like attempting to talk on your home phone and your cell phone at the same time. You can’t really give your full attention to either conversation and you actually spend more time trying to complete both conversations than you would if you focused on having one at a time.

Multiple MLM Businesses Breeds Confusion

Another reason trying to build multiple mlm businesses at the same time is probably not a good idea is because of the possible confusion that may result as you attempt to market yourself. When you meet a prospect how will you determine which business opportunity to pitch to them? If they show no interest in one opportunity will you then launch into a sales pitch about your “other” opportunity? It is already difficult to engage people enough to sit through one sales presentation. It is highly unlikely that a prospect is going to allow you to continue to take up their time with another one.

Are You Allowed Multiple MLM Businesses

Lastly, you may want to check your contract with your network marketing company for possible non-compete clauses. Some of these network marketing companies are competing fiercely with each other and will not tolerate a network marketer concurrently promoting another mlm business in the same industry. Doing so can result in you having both of your mlm businesses taken away by the parent companies and sued for damages. Not to mention the hit to your credibility as you attempt to sell competing products to the same people in your social network.

Now I want to make it clear that I do not oppose owning more than one business. I firmly believe that financial security requires that you have multiple streams of income flowing into your bank account. That way if one stream fizzles out, you have several others that will take care of your needs until you find something to replace it.

However, I also believe in being smart about your business development. Work on building one business to a successful level before jumping into another one. When you are focused 100% on what you are doing, you’ll communicate your vision more effectively, connect better with prospects, and spot opportunities quicker. Which all means you will achieve success much faster.

If you are starting multiple mlm businesses because you are not experiencing the success you want or none of them are providing you with what you need to succeed, then read a few articles on this blog for ideas on what you can do to kick start your business.

Download my free social media checklist (sign up in sidebar) for a daily to do list of all the things you need to do to increase your following. For personalized help, contact me for a free consultation on the best way to market your MLM businesses online including using Twitter and other internet business tools.