"mlm company shutdown"

MLM Company Shutdown

What to do in an MLM

Company Shutdown

If you are reading this post today my hope is that a MLM company shutdown has not happened.  Whether the MLM company shutdown or your company is undergoing a merger, it can be almost equally as damaging.  After several years of building my first network marketing company I thought I had made it.  I was one of the top recruiters, top income earners, and was featured in many of the company’s promotional materials and videos.  Despite the success the company was experiencing the owners had a change of heart and for reasons I won’t get into on this blog they sold the company and merged into another MLM.  Today’s post comes to you from my personal experience of what I learned and what you can do to prevent losing your income like I did.

Lessons From MLM Company Shutdown

When the mlm company shutdown that I was a part of, I lost my income overnight. Well it was actually a merger that took place but when we merged 90% of my downline did not make the merge with us.  While this was painful and sent me scrambling to recoup the income I learned several powerful lessons.

#1 God is my Source – For me I had put all my trust and relied entirely on the network marketing company to meet and supply my needs.  I had drank the company koolaid and was 110% sold out to the company.  When the mlm company shutdown it was almost as if I had lost a loved one…yea I was baited, hook, line, and sinker.  The company was essentially my god and I was in idolatry.  I learned the hard way that God is my true provider and that all wealth comes from him.

“The silver is mine, and the gold is mine, declares the LORD of hosts.” – Haggai 2:8

"mlm company shutdown"#2 Brand Yourself Not the Company – The  mistake I made was focusing on promoting the company, its products, and their brand.  Normally that doesn’t sound like there is anything wrong with that, right?

Wrong.

If you only focus on the company and promoting their products and something should happen to the company you have no equity, paycheck, or assets that you own that you can take with you.  However, when you brand yourself and develop a following you build relational equity and you create a valuable asset – an email list!  You may have heard the term, “the money is in the list.” This couldn’t be more true; why does the cashier ask you for your email when you make a purchase?

When you brand yourself people will follow you.  This is important because then your downline will be more loyal to you than the company and if your MLM company gets shutdown you can lead your downline into another company.

Branding yourself creates authority, demonstrates leadership, is a higher level of professionalism, and establishes more credibility in the eyes of your prospects and team members.  You may notice that you are reading this on my personally branded blog.  Does having a website like this separate me from the thousands of other distributors in my company? How many people in your team are using a blog to attract customers and potential distributors to themselves?

"mlm company shutdown"See most network marketers chase, beg, and bug friends and family.  Some networkers graduate and start prospecting on social media (which I love, teach, and support).  However, if you want to build a large team fast without hours upon hours of prospecting, brand yourself and learn online marketing.  Some of the best ways you can do this is through blogging and video creation.  It does take some time and work but I can tell you it is absolutely worth it.  This prevents you from incredible pain and years of time to rebuild a distributorship downline like I did.  To learn more about branding yourself watch my free training about attracting leaders to your network marketing company.

 

#3 Create Multiple Streams of Income – If I had created multiple streams of income I wouldn’t have lost everything.  When my company merged I had to get a job selling furniture and then as a candy maker and work part time as rebuilt a network marketing income stream and learned to market online.  Over time and by God’s grace I was able to become a top recruiter in another company and do well for myself.  I found comfort knowing that it was also in line biblically to create multiple income streams and not have all my eggs in one basket.

“Cast your bread on the surface of the waters, for you will find it after many days. Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.” – Ecclesiastes 11:1-2

 #4 Build Relationships With Leaders – The network marketing industry can be some what volatile at times.  While there are plenty of great companies that have been in healthy operation for decades this is not true for all of them.  Building relationships with leaders in other companies has multiple benefits. 

  • Quality professionals network in their profession
  • You may want to work with another leader in the future
  • If an mlm company shutdown happens to someone they may look to bring their team over to your company

My most important lesson is that network marketing is something I love, but it is not the end all be all in life.  What good is a high income if it came at the cost of missing out on years of family, shallow relationships, and actions motivated only by profit.  God has given me and you gifts, talents, and callings.  Not all of you reading this blog are supposed to be in network marketing.  However, anyone can build an income in this industry and it can be done no matter who you are.  I would just make sure that when you lay your head down to sleep if you are at peace with this profession.  It comes with incredible responsibility to impact people’s lives, make great money, develop people and their skills, and help people personally develop.

Have you been part of an MLM company shutdown? Leave a comment below and share what happened.

RonG561abymalu

 

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P.S. Remember to follow this, “Seek first the kingdom of God and His righteousness, and all of these things shall be added unto you.” – Mathew 6:33

P.P.S. To learn more about MLM company shutdowns, regulatory information, and other industry information visit http://MLMWatchdog.com.

About The Author

Ron Gelok

I'm a full time home based business entrepreneur. I love to meet cool people, God, Love to skateboard, go fishing, and water sports. Traveling is what I'm into and loving life. I'm here to empower ordinary people to do extraordinary things. The entrepreneurial gene runs deep inside me. I believe in abundance and taking control of my life and future.

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