I’m a big proponent of the concept that many of stated, but my mentor, Robert Allen, made part of our business vocabulary — “Multiple Streams of Income”
Businesses are cyclical, the ebb and flow like tides, and sometimes cashflows are high and sometimes they are low. When you have multiple streams of income, the result is usually more consistent business results.
Take for instance, a vendor of umbrellas. That vendor might sell a few on sunny days, but chances are the bulk of the purchases by customers are on rainy or overcast days. Now if the vendor also sold sunglasses, he has another stream of income for when the umbrella sales dry up.
(ok, bad pun, I know)
In the past I’ve avoided Network Marketing (aka MLM) as a stream of income entirely. I had some bad experiences early on with a network marketing company and as a result I lost some credibility as a business owner, and even more money. That bad company aside, the usual way people approach MLMs seem to be a lesson in “how to lose friends and alienate people”
You know the type…
However, after a many-year absence, I’ve returned to a network marketing company.
Well, I took a lesson from my mentors first, I heard this story (I have no idea if it’s true)
Late night legend, David Letterman, interviewed billionaire DONALD TRUMP not long ago on The David Letterman show. Letterman asked â€œThe Donaldâ€ what he would do if he lost everything and had to start over from scratch.
Trump’s response was that he would find a great network marketing company and get to work. When he received some hisses and boos from the audience, he looked out at them with complete and total authority and responded, â€œThatâ€™s why Iâ€™m sitting up here and you are all sitting out there!â€
True or not the point is a solid one, network marketing takes the most powerful elements of traditional business (marketing and incentivizing) and systemetizes those elements for maximum effectiveness.
Seriously, this enough wasn’t enought to have me wanting to join a network marketing company. But it did shift my paradigm about the format being a legitimate business venture.
Another thing that happened was I learned that someone that I love and admire makes the bulk of his income (he’s independantly wealthy) from a MLM. His secret? He got in early.
Which brings me to today. The thing that changed most is I was given the opportunity to get in early. From the head of the company himself… who happens to be Bob Allen, the same mentor that taught me the benefits of multiple streams of income in the first place.
He’s starting a new company called Bookwise
And when I heard about it, I made the decision to join on the spot.
Why? Well, three reasons really.
1. The product is books. It’s a book of the month club (which I belong to) only better. With this book of the month club I also get a free audio book and ebook each month, and classes on speed reading, tax savings and sales training. Additional books can be purchased for 40% off the cover price. In essence, it’s a good product.
2. The financial obligation is small. Just $39 to enroll and $35 a month.
3. The business system is backed by powerful people. Robert Allen owns the company, with Richard Paul Evans (the author of the Christmas Box). Bob’s a passionate guy, and the kind of business person that creates successful businesses. And because it’s a new business, I had the opportunity to get in at the top.
Yep, it has all the elements that make it a successful business. Good revenue model, good product, good marketing, passionate people.
Oh yeah, and I have the opportunity to get in at the top. Here’s my upline
Tom Painter and the Enlightened Wealth Institute (at the top of the matrix)
Mark Victor Hansen
Tad (a friend and very successful MLM producer)
Why is this important? Because in MLMs, new associates in the organization fall into a forced layout, called a matrix. This means that everyone Mark Victor Hansen brings in, falls “under” Mark. I’m under Mark, occupying a position on level two of his matrix, that means when new people come in, they go in level 3 (under me)
and when that level gets filled up, they go into available slots in the levels under me (in other words, their marketing efforts go to fill the spaces under the people I bring into the organization too)
Pretty nice position. I figure with giants like that marketing over me, success is pretty much guaranteed.
want to play too? Visit http://www.credit-millionaire.com/bookclub