Multiple streams of income is the mantra of professional network marketers. As team builders, we need to be able to speak fluently on this subject in order to educate others who are seeking solutions that network marketing can provide. Especially in today's economic climate, the value of multiple streams of income is fundamental.
We tell prospective team members that network marketing is not something to do "instead of a regular job." There are benefits to a regular paycheck, and there are benefits to the income you build over time through a network marketing business. One need not preclude the other. For many, the combination is ideal, and promoting our business as something that people can do without compromising their current job opens the door to more candidates.
Disparaging a person's "J-O-B" is passé; it has no place in today's networking environment. In fact, the two can coexist beautifully, and thinking inclusively rather than exclusively can be very good for your business.
A network marketing income can also solve the financial dilemma for someone who is between jobs. Times have changed. A new college grad told me recently that the expectation for new job duration right now is around two years. On average, it takes about one month per $10,000 of desired annual income to find a job; for example, finding a job that pays $80,000 a year should take about eight months. For someone whose full-time job is looking for a job, taking a small percentage of that time to build a business whose income is potentially perpetual can be an attractive proposition.
People who love what they do, but whose work doesn't provide them with the lifestyle they want, constitute another category of strong candidates for our business.
Teachers are a classic example: since they are typically not paid very well, they are often unable to do things like travel and buy a home, luxuries that are affordable for people with higher-paying jobs. A network marketing business can be a perfect complement to a teacher's salary, especially since most teachers have summers off, know a lot of people, and often want more out of life than is feasible on teachers' wages—and they can capitalize on their native talent, which is teaching, since that is a lot of what we do as team builders.
As entrepreneurs, having multiple streams of income means that we can serve people in more ways. Often this takes the form of finding a network marketing business that complements the work we do in our chosen field.
For example, a general contractor can market environmentally friendly household products to his clients. A hair stylist can provide excellent shampoos and conditioners in her salon. A fitness trainer can carry a line of weight loss and nutritional products that help her clients optimize their results while training with her. Why limit ourselves? Why not capitalize on our talents, let one business feed another, and be paid in more ways than one?
What is so valuable about multiple streams of income is that if one faucet gets turned down or off, even temporarily, another one can stay turned on. For example, if a trained electrician loses clients or gets laid off, his network marketing business can fill the financial gap. We all know many realtors who are unhappy with the current state of real estate. If they build a side business that offers skin care products to their clients and colleagues who want to look their best, they will be much better protected when there is a long gap between the closing of escrows. With the income from a network marketing business, there is no reason to suffer when the market slows down or when prices drop and commissions are lower.
The concept of multiple streams of income is so core to what we offer that it pays to become an expert at helping others understand it. Being able to explain this can change lives, including our own, as we guide others to higher financial ground.
ROSIE BANK is a successful network marketing leader
and author of You, Inc.: Own Your Business, Own Your
Life through Network Marketing. She founded
Manifesting Vision International, a global organization
that provides training and support for entrepreneurs
around the world.