Where are your eggs?

Presented by: Elz Boltleri - specialising in identifying zero or low-cost platforms with very low or no ongoing fees and simple to implement structures. Having spent 30 years in the MLM and DS industry, identifying the pros and cons of different platforms and presenting them in a no-nonsense format, the information provided is invaluable and offered on a no-fee basis. CONNECT WITH ELZ now.

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Yes, you are happy with your current business. That’s great! It really is! Actually, it is super fantastic! Being happy should be the primary goal for everybody.

Are you treating it like a business, not a hobby? {YES …. is the response I hear}. Terrific. We all should take our livelihoods seriously. When you completed your SWOT analysis, what were the key points identified?

{What’s a SWOT analysis?}

Every business should be completing a thorough SWOT analysis. SWOT stands for

Strengths – What are the strengths of yourself and your platform?

Weaknesses – What are the weaknesses? Perhaps these are skills that could be developed or tasks that could be outsourced.

Opportunities – What business opportunities can you identify that will aid your future success?

Threats – Identify some challenges you could face that could adversely affect your success? Some may be within your control to eliminate. Others may be totally out of your control, but if you are aware of them, you may have a strategy you can implement to minimise the impact.

If you haven’t completed a SWOT analysis for your business, perhaps you should in the near future.

A Common Threat

This report focuses on a common threat to all Multi-Level Businesses, including franchises.

A significant threat is that the Primary company or Master Franchise may cease to trade. Unfortunately, it can often happen with little or no warning either. The impact of such an event on the small business owner is phenomenal. Often their funds are all invested in the business and they rely on the income generated for the family coffers. Attendance at a private school and participation in extra-curricular activities are regularly only possible with the income derived from an additional “sideline” business and it is not uncommon for the business income to be the entire family income.

Assuming you don’t decide to employ a “stick your head in the sand” strategy, having now identified this potential threat, it is possible to create a strategy to minimise the impact if such unfortunate circumstances do occur. If you are a franchisee, you will generally have rights to rebrand and continue to trade. If you are operating an MLM however, your entire income stream and product line is attached to the primary parent operation.

What strategy could you develop if you are in Direct Sales or Multi-Level Marketing?

Over the course of 30 years’ experience, Elz has witnessed many multi-national and financially strong MLM and Direct Sales businesses cease to trade. The participants in those platforms have found themselves without an income, almost overnight. They may have a strong downline that can rebuild in another platform, but it certainly still impacts on lifestyle choices in the interim.

Yes, FOCUS is important. You should be absolutely committed to the business that you have selected as best meeting the needs of yourself and your family.

Just as when you are investing, you should spread the finances in different pools to minimise the risk, you can do similarly with your MLM and Direct Sales business approach.

Don’t put all your eggs in one basket

The primary business often requires a significant time, and sometimes financial, impact, especially in the early or growth phases. To ensure your eggs are not all in one basket, and the threat impact can be minimised, having a few other income streams that are neither time or cost intensive can offset major damage.

If your parent organisation is heavily product sales oriented, consider some service-based platforms or totally passive-income based. As a responsible leader, you should be recommending your downline team protect themselves also.

Examining and thoroughly researching such platforms is heavily time-intensive as well; time which you could better spend in your primary business. By using the services of a consultant who specialises in providing an objective overview of possible platforms, you can choose the most appropriate ones for your goals and objectives that do not conflict with your primary business, thus eliminating this problem and implementing a sound business practice of protecting the incomes of your entire team.

Where to from here?

Elz Boltleri specialises in identifying zero or low-cost platforms with very low or no ongoing fees and simple to implement structures. Having spent 30 years in the MLM and DS industry, identifying the pros and cons of different platforms and presenting them in a no-nonsense format, the information is invaluable. Being able to provide this service on a no-fee basis allows the “give back to the industry” goal to be met also. Send a Direct Message to find more about the options available for all responsible team builders to protect their incomes and the incomes of their downlines by minimising the threat of their parent business collapsing, however unlikely you believe that may be.

This article was published on 06.09.2016 by Elz Boltleri
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