How and why should you diversify your income with a MLM or Network Marketing company? Before we get to the why and how lets get the stigma of an Multi-Level-Marketing company out of the way.
Let's just get this out in the open. I am SO tired of seeing so much bashing when it comes to Multi-Level-Marketing. MLM is also know as Network Marketing also known as Word of Mouth marketing. I totally understand the skeezy, spammy marketing that goes on in lots of MLM's. Do I like it? Heck no! Do I understand why they do it? Heck Yes! Do I run my business that way? Heck no! Before you leave, keep reading on to understand why a MLM works perfectly for diversifying your income.
Let's break this down. Why do people become spammy McSpamerson when they start a MLM? Well when anyone starts a business whether it be a MLM or a brick and mortar store you expect or at least hope that your friends and family support you. When you invest in a MLM business you are investing sometimes a lot of money, time and energy. It is exciting but also SO scary. Sometimes people share their excitement in the wrong spammy way. The next time someone messages you about their business do me a favor. Step away from the computer and look at this in a different perspective. The perspective of, "hey Suzy just started XYZ company and maybe she is just wanting to earn a little income to pay for Sally's ballet" . Do you have to buy anything? Nope but you can definitely share her website, comment on her posts! Those things help more than anything. OK stepping off the soapbox for a second.
Back to explaining this so the people in the back can understand a Network Marketing Business. When I bought a starter kit from Young Living who has been around for 25 years, I essentially bought a franchise. If your best friend bought a McDonalds franchise would you not go and buy food from them because they bought a McDonalds? It is the same thing. Young Living does not pay marketing dollars. Instead they give it to us who sell their products. When you support your friends who sell a product like Beauty Counter, Shakeology or any other company like that you are supporting her small business. Owning a business is not for the faint of heart. It takes grit and lots of hard work. Those friends that have started a business are providing income for their families while being moms, or friends or wives or husbands or dads. For someone to not support you just because you bought a mlm franchise is the most ridiculous thing ever. You don't have to sign up, just support your friends and family!
Now that we have gotten the Stigma of Network Marketing out of the way, let's chat about why you should consider an MLM as a way to diversify your income and why you should do it.
"Never rely on a single source of income" ~Warren Buffet
Why Diversify your income?
Warren Buffet was a financial legendary genius. He urges us to find multiple ways to bring in income. If you aren't earning "mailbox money" or passive income you are doing it all wrong. Never rely on a single source of income. If one income stream fails you have another income stream to support you. In times of uncertainty it offers more freedom.
Why Health and Wellness like Young Living? When Jeff Bezos buys Whole Foods you know that the health and wellness industry is booming.
- The Health and Wellness industry has a revenue of $2.5 trillion dollars. Yes TRILLION
- 34 Billion dollars are spent on out of pocket alternative healthcare
- Educated consumers are demanding high-quality and sustainable goods.
What should you look for in a company when considering diversifying your income?
- The company should align with your brand and morals.
- The company should have consumable goods.
- The company should have longevity. Young Living for example has been around for 25 yrs
- Low start-up and monthly overhead. Young Living has a start up cost of $35 to $265 and optional $50 monthly expense.
- Choose a company that has strong training and educational resources.
Why the Young Living Business?
- They are the world leader in essential oils for over 25 years.
- They are a full wellness company with consumable products.
- The company offers residual income.
- Low start-up and monthly overhead.
What is the income potential?
- For the full income potential visit here.
- The income ranges from $0 to $3.1 million annually
- You get to build your dreams on your terms among people that support your path.
- You get full support, whether your goal is to get a few free oils, an entire lifestyle shift or complete financial freedom.
What is required to earn another income stream via Young Living?
- The low cost of any Wholesale Membership $165-$265 (this is a ONE time fee)
- Consistency and Education. This is a business. Treat it like a business. There is no magic trick or pill.
- People over profits. The more you care about helping others, the more successful you will be.
- All the tools, resources and knowledge will be placed in your hands so that you can be as successful as you desire.
Frans!!! in the best Moira Rose from Schitts Creek accent I can do. Let's not fall into the MLM "is terrible trap". Instead let us think of this as another way to diversify your income. I would love to help you use this as a way to earn financial freedom.