There is a myth circulating around the Internet and in seminars that is strangling many network marketers and killing others. It's called "multiple streams of income."
The original concept, as Robert Allen expressed it in his 2000 bestseller Multiple Streams of Income, was to create one strong income stream, from a business or job, and then take a portion of that income and invest it in passive income sources, such as real estate, network marketing or stock investing.
The idea was brilliant. The problem is in the execution.
Many enthusiastic network marketers have taken the concept to mean that they should create multiple businesses and work them simultaneously to generate multiple income streams. But I have never met anyone who has successfully built multiple businesses simultaneously by themselves and lived to tell about it. If you are the jack of many trades, you'll be the master of none. Which means you probably won't make much money from any of your multiple businesses endeavors—not until you focus on just one.
Some network marketers even take this idea further, and try to build multiple network marketing businesses at the same time. That's a recipe for disaster.
It's simply not possible for one person to successfully work multiple MLM businesses and make a lot of money from any of them.
To build a strong, healthy, high-earning network marketing business, you need to have FOCUS: Follow One Course Until Successful.
Once you've built a great organization that is throwing off a lot of cash, you can then look for passive investments that will make your money work for you.
In my own experience, I stumbled upon network marketing while managing my own marketing company. One day someone showed me a network marketing product that was a perfect fit for my marketing business customers, and I started selling it. It sold like crazy. It was an easy transition for me to build a network marketing business around that product.
Today, I take my excess earnings and put it immediately into passive investments that I call my "retirement assets." I take the cash from those investments and throw them right back into my passive investments so that when I grow older, my family and I will never have to worry about running out of money.
DAVID FREY is author of the Small Business
Marketing Bible. His Video Newsletter is seen by over
50,000 small business owners around the world.