Creating Your “Money Wheel” (MLM Example)
As you consider branching out into new opportunities and creating a suite of businesses that make you money, I recommend a couple things:
Network marketing is great, but there’s one major problem you run into.
Many companies have rules against combining your business with other businesses, which stops you from capitalizing on the business building effect that I described above using Kiyosaki and Trump as examples. Let me explain…
I called 10 of the top network marketing companies, and with the exception of one (Amway/Quixtar) none of them had any problem with you joining another network marketing company (I called these companies to see if any network marketers would get in trouble for joining my IMFBO affiliate program. Here are details on who I called etc…).
While it’s fine to join another MLM or affiliate program, many of them do have rules discouraging you using one opportunity to build another opportunity (e.g. you’re not supposed to market anything to others in the company).
This means that you can build a business at two separate MLM’s, but you can’t cross-promote them to each other to help them build on each other.
This stops you from interrelating your business activities like Kiyosaki and Trump do (I mention them in the “12 Ways” book). You can’t build one business and then using it to build another business. Both your MLM businesses are simply two isolated streams of income that compete for your time and energy.
2 Things
So as you consider branching out into new opportunities, I recommend two things:
First: Find businesses that will take your own learning to the next level.
I mentioned this in the video–the route to wealth that I chose looked like:
learn internet marketing –> learn to run a business –> learn real estate investing
Once I identified that, I found affiliate companies that would teach me how to do those things while allowing me to market their education to others.
Second: Find businesses that are compatible with each other.
You want to find opportunities that allow you to take people from one business to another without getting in trouble with any of the companies you’re affiliated with. This way, if you find someone who is interested in one of those areas, you can cross-promote your other opportunities to really capitalize on every lead you get.
Example:
For example, if I have a friend, Jill, who wants to learn internet marketing for their small business, I can introduce her to the IMFBO site and I’ll make some money there.
Once Jill gets good at marketing and she want to branch out into real estate (if she agrees with Robert Kiyosaki that business ownership and real estate are the best ways to wealth) then I can introduce her to real estate investing and earn some income there. And then business ownership education.
Then Jill can introduce her friend, Jack, to the real estate business, the internet marketing business, and the business that teaches him how to run a business, giving him the tools he needs to succeed from start to finish, and both Jill and I make money on anything Jack participates in.
You get the idea.
Then we put the money we make into real estate properties for another stream of residual income, and when people see what we’re doing they start wondering how they can do it themselves, and around we go!
Find your route
I’m not saying you have to join the same companies I have, or even go the “internet marketing –> business ownership –> real estate investing” route like I have. If you want to know exactly what I’ve found and what I do you’re welcome to contact me and I’ll be happy to show you (and details on the IMFBO affiliate program can be found here), but what I’m saying is you want to find the route that works best for you and then find a company that will not only teach you how to take each step while being able to build a business around it, but your want to find companies that will let you cross promote your businesses and really capitalize on everything you do.
- Choose your route to success
- Join quality companies that teach what you need to learn
- Make sure each company has an affiliate program that you can cross-promote
It doesn’t matter if you want to make your fortune in the stock market or the health and wellness industry. You just want your business activities to build on each other, such that success in one business leads to success in the others. That’s the kind of situation you want to create for yourself!