Most MLM companies pay commissions in several different ways at the same time, so you kind of already have multiple streams of income built into he program. The problem with this is that they typically all depend on your recruiting efforts, so you are really only getting paid for the same people, just in different ways.
Now it’s also true that you will get paid commissions based on your own recruits efforts too, but this is typically a small portion of what you can earn for your direct sponsorships.
This article today is going to discuss how you can create multiple income streams outside of your network marketing opportunity that actually add value to your team, and your prospects in whatever business they may be in.
The intent here is that people can benefit from your training and from investing in the tools you use as part of your business, so that even if they don’t join your primary business opportunity, you can still help them and earn some commissions in the process.
Some multi-level marketing companies contracts include a clause that you can’t belong to another multi-level opportunity, so please check your contract and make sure you aren’t violating the terms by promoting other offers. Some of the tools and services i use have tiered commissions built in, so it’s fair warning to you to understand your contracts for anything you promote.
1: Promoting Tools & Services Directly To Your Team
As you develop and grow your own home network marketing business, you will no doubt find tools and services that can make your life a whole lot easier. This might include hiring a Virtual Assistant (VA) or contracting freelance article writers, or using link tracking software, Search Engine Optimization (SEO) services, creating Press Releases, or having free value-loaded reports to give away, or any other number of tasks you might do in your business.
Chances are, if you find these tools and services useful, so will other people on your team. As you sponsor new people into your business opportunity you can suggest tools and resources to them that will help them in their own business.
I’ve belonged to opportunities before where certain paid tools and services were a requirement, and that actually sucked when i was getting started because it was a lot more overhead when i was first getting started.
Most tasks can be handled manually when you are first getting started so go easy on your team, only offer them tools when they make sense to do so – when their business is at the point where it needs help in order to grow. Either they are doing too many time-intensive tasks every day that can be outsourced (such as if they are following a content strategy, you can outsource writing the content), or they are manually tracking too many prospects (introduce them to an email autoresponder service), and so on.
Affiliate Commissions
Bringing them on-board through your affiliate link will earn you a commission. If you use tools with a monthly subscription, then you will earn commission every month as long as they remain subscribed.
Now, the key factor here is that you recommend a service that helps them out, that gives them more value than they are paying for so that they want to stay subscribed. At the same time you are freeing up their time to work on attracting more prospects and more customers, so their business should be growing as a result… your team will thank you for leading them to a service that helps them out.
2: Promoting Tools & Services To Your Prospects
The second group of people you can promote paid tools and services too are your prospects.
Chances are they found you because they were either looking for an opportunity to join, or they were looking for training so they could make the opportunity they already belong to work better.
Either way, you know what tools and services are working for you, which are saving you time, which are doing the tasks you either don’t like, take too long, or you just aren’t good at – and if they work for you, they will work for others as well.
So long as you are only promoting tools you know work, and that you stand behind, you will find your prospects are often interested as well. We all need time savers, management tools, eventually even out-sourcers and even a VA. Personal recommendations are the often the easiest way to make a sale (note – lying to try making a sale will come back to bite you sooner or later, just don’t go there).
Most of the online tools and services you will use will be a one tier program, someone you refers buys a product and you get a commission. If it’s a monthly subscription, you’ll get commissions monthly too. There are some programs that have tiered affiliate commission structures too, so anyone the people you have referred refers will also generate you commission, albeit a much smaller amount.
Personally, i would still go for the better tool over the better compensation plan any day. My primary objective for using a tool is to improve something in my business, getting commissions from referring other people to use something is just a nice bonus.
Another nice side-benefit of this approach is that if you ever change companies, you still have other income streams working for you while you make the transition.
Do you promote affiliate programs as part of your network marketing business? What tools and services do you find most useful? Let me know in the comments below.
