Why do so many people work for more than one company?
This is a question I hear all the time, and a great one! The truth is, there is not one specific answer for this though. People do multiple companies for many reasons, and I’ll share a few of them, and my thoughts on it! Because I know you are dying to know If I agree or disagree with this practice.
Reason 1- Larger Market Target
This is the MOST common reason people do multiple companies. It allows them a larger market to sell to and thus more income in their pockets each month. For example, if you sell makeup, you are normally only reaching adult women. Some men will buy makeup for their wives, but most don’t. If you add in a another product, such as vitamins or clothes detergent, you now are increasing your target as you can sell to men, women, and kids. Having something for everyone is important when you are trying to make an income every month. If your market is just a small amount of people, then your income potential is lower.
Reason 2- Perishable Products
Some people sell items that don’t perish such as bags or jewelry. These are great, but the truth is most people do not need new earrings every month. If you add in a product like makeup which runs out, you increase your sales each month. If you are passionate about jewelry, don’t quit!!! Just add in something that does run out each month so your customers keep coming back to you!
Reason 3- Boredom
This may sound funny, buy many people get bored easily and if they promote more than one product, then they don’t get bored! I personally found I got bored very fast, once upon a time when I sold just a protein shake. Few people use that item, so my customer base was small and I got bored pushing it. Once I added in a fun product that more people would use, I found a better balance between the two!
Those are the most common reasons with the top reason being it gives you a larger target market so you make a larger income each month. Did you know the average millionaire has 7 streams of income??? They don’t put all their eggs in one basket.
Now it does take some skill to balance more than one company. Here are my tips for finding balance.
- Make sure you are well established in your first company, before adding on another. You don’t want to start TWO companies at the same time. It will cause confusion with your customers, plus you will have to learn about two product lines and compensation plans at the same time. That’s too much! Work on one, and then add in the second.
- Don’t over promote. You need to balance how you share your items so you aren’t driving people crazy with selling things all the time. Schedule out when you are going to talk about each item and remember you want to do 80% of your posts NOT about business. So if you post on facebook 4 times a day, only one of those should be about your business.
- Don’t team build for two companies. Team building is hard, and your team needs you to be there to help them learn and succeed. If you are planning on building large teams with multiple companies, you can’t devote much time to training your team when you have TWO teams. Your team needs you to be present for them, not juggling them and another team. It also sends the message that you aren’t successful which is why you need two teams. I recommend promoting a product you love for fun and the commission, and then promoting with a team for your second company. Sometimes you can balance having small teams in two companies, but if you plan on going to the top of a company, you need to focus on team building with just one!
- Have private groups- Having a VIP group that you can share both your products in at the same time is a lot easier on you! Plus you can post multiple times a day in your group about your products. And it allows people who want to follow you, to see what you have on a daily basis!
At the end of the day, remember to pick companies that you will enjoy working for and you will use the products. The best way to make an income is to SHARE why you love the products, why you use them, and how they will change other peoples lives. Share, share, share! The more you share, the more you will earn.
Want to come work with me??? I work for two great companies and can show you how to balance AND be successful!!!