I learned about the You, Inc. concept from Mike Dillard. This is one of the most profound lessons I have ever learned in network marketing. The concept boils down to this: It is much wiser to have your MLM Company bonus check be one of your income streams, rather than be your only income stream. Mike teaches you how foolish it is to just build a downline, and only have one source of income. I have to agree with him!
There are several problems with just being a distributor. First and foremost, you could be terminated at any time for any reason. So all the hard work you did could be gone overnight. Next, the company could go bankrupt and shut down, leaving you with no bonus check. Furthermore, when you are just building a downline, you don’t own anything. You don’t own the company name, the products, the intellectual property, your distributor list or anything. The company is in complete control and you are at their mercy.
Simply put, just building a MLM Downline is not a real business! Some people might argue with this, but I am going to side with Mike in this case.
That’s why I believe it’s very important to build a You, Inc. business, just like he talks about. But what is a You, Inc. business and how do you do it?
A You, Inc. business is when your MLM Company is just one income stream of several in your business. It’s when you promote yourself first. It’s when you have different things to offer your prospects, such as leads, training, affiliate products, systems, etc. It’s a business that you own and can’t be taken away from you.
Here’s an example of how to build a You, Inc. business in your network marketing business.
You set up your own blog about network marketing. On your blog, you promote 2-3 different affiliate products, you could sell books from Amazon, you have Google Adsense, you could promote a few of your own training products, you could recommend leads from a lead company, you could sell advertising and coaching and services, AND you could promote your MLM Business. In this example you have several income streams to include:
- Amazon Affiliate
- Google Adsense
- Clickbank Products
- Selling Advertising On Your Site
- Coaching or Mentoring Program
- Your Products
- Lead Program
- Affiliate Products Such as Magnetic Sponsoring
- Your MLM Company
Each income stream provides you a monthly income. When you add up all of the different income streams it is a nice amount each month. Even better, you now have a way to make money even when people tell you NO to your business opportunity. And if your company ever goes out of business, or terminates you, or you decide to switch companies, you don’t lose all your income overnight.
Another thing that you need to keep in mind is that it typically takes several years to build up a significant MLM Income (3-10 years). By having multiple streams of income you can stay in the game longer and be profitable much sooner.
When it comes to my business, I consider my blog a separate business from my MLM Company. I simply leverage my blog to help me build my downline. Both are separate businesses, although they do compliment each other.
Following the You, Inc. concept allows you to diversify AND create multiple streams of income. It allows you to build an asset (in this example, your blog) that you can sell or keep earning a residual income. Simply put, it gives you control and puts you in the driver’s seat. It also lets you work smart.
As I see it, this is the best way to build a network marketing business. Just building a downline is scary because there are too many things out of your control.
What are your thoughts? Do you think the You, Inc. business model is better than just building a downline? If so, why? Why not? Leave a comment below to let me know what you think. I look forward to hearing from you.