To my loyal readers.
As most of you already know, over the last several years I have been advocating multiple streams of income.
The reason for this is because several years ago I built up a large organization in a network marketing company. The ownership and management of this company quickly let all of its distributors down and went out of business.
Knowing what I know now, I can honestly say that getting involved with that company should not have happened for several reasons. First of all it was a start up. So of course there was a strong risk involved.
Did you know that over the last 50 years that the Direct Sales Industry has been keeping records, that around 51 thousand direct sales companies have registered to do business in the US and Canada? Of those companies only 75 has managed to hit the $100 Million mark in cumulative sales – NOT IN A YEAR – but in the lifetime of their company.
In addition to that, it is a well known fact that most companies fail within their first year and the majority of the ones that make it that far will close their doors by the end of their second year in business.
What does that tell us?
Obviously start ups are risky and almost never make it to long term success.
After getting burned by the above mentioned company I decided to forgo MLM all together and put most of my efforts into marketing direct pay companies that pay me off of my efforts. And I have done very well with these programs.
But these types of programs are just like a J.O.B. in a lot of ways. There just is no real leverage involved.
However, during the last few years I have known that if I truly wanted to achieve my goal of building a real walk away residual income that I would have to get back into network marketing.
Best of Luck to you all.
The HBB Advisor