Is taking on two business opportunities a common mistake...

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Is taking on two business opportunities a common mistake...

Postby melmel on Fri Feb 29, 2008 10:41 am

I'm new to Direct Sales and am currently doing two. One I love the products because they add style in my home. The second, I love the product because how it keeps my family healthy and active!

It's challenging enough to balance family and one business... but what is the best way to balance family and multiple businesses? Let's face it, you don't need a lot of money to be successful, but it sure helps :-)

Is taking on two business opportunities a common mistake or can they both be managed successfully? Is anyone here in the same boat and can you provide any tips and/or lessons learned?

Thanks in advance...
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Postby Audrey on Sat Mar 01, 2008 12:12 pm

I've been in direct sales for 25 years. I did switch companies (long story, law suit involved), however I've never marketed more than one company.

I have accounts with two companies today. I have a Watkins account. They have the best products, but I don't market it at all.

Then I have my Tupperware account. That's what I market.

My reasoning is this:

1. the time it would take me to market another business, I'd rather build my team/customer base with Tupperware

2. when you have two businesses, it's near impossible to convince your team they only need one business, and when your team is putting some time into YOUR business and some time into another business, I feel you are losing money.
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Postby tam2005 on Mon Mar 03, 2008 12:46 pm

I'm not in direct sales....but if I were, I would pick just one company and give it my all. Just my 2 cents. ;)

Audrey...I didn't know you were with Watkins.
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Postby lindastacy on Mon Mar 03, 2008 7:59 pm

I think it depends on when and why someone started the second business.

If one business is successfully running pretty much on autopilot, then joining another company may be manageable. But all too often, consultants start a second business before they know how to build and profit from the first one, and they end up with two unsuccessful businesses.

Having multiple streams of income is a good thing, but joining multiple companies probably isn't the best way to do accomplish that. Adding related services or information products to your primary business is a better approach. For example, with a home decor business you could offer an organizing service and/or informational products on organizing and storage.
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Postby melodyt on Mon Mar 03, 2008 9:47 pm

I agree with both Linda and Audrey, they have made good points.

If you have a team and customers then you need to ensure you do your very best to serve them, as people are the most important thing in your business.

Do what you will, do what you might, things done by half are never done right. (Not sure if I have this quote right but it goes something like that) :lol:

It is challenging to balance family along with one business and I don't know of anyone who has become successful trying to build more than one DS business at the same time.

Take care,
Melody
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Postby Audrey on Mon Mar 03, 2008 10:08 pm

Audrey...I didn't know you were with Watkins.


I've had an account with them for over 10 years now. Like I said, they have awesome products.
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Postby lwillard on Wed Mar 05, 2008 12:16 pm

I'm also going to have to agree with Linda and Audrey. I'm a Melaleuca customer and love their products. But my business is with Scent-sations. I like the simplicity of candles as well as the different ways you can make money. You can focus on retailing, team building or fundraising....Not everyone wants to work their business the same way. So, we give you options.

Now, I am a part of a few affiliate programs. But all of these programs have helped me in my core business. So, I do believe in other monetization avenues. These have only made my income bigger and helped my core business.

I believe if you continue to work the two, you will eventually find out which one is right for you and where your true passion lies.
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Postby melodyt on Wed Mar 05, 2008 12:57 pm

Oh, I heard another saying, "You can only chase one rabbit at a time!" :lol:

Take care,
Melody
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Postby AvParties4u on Thu Mar 06, 2008 12:15 am

I have a couple different businesses.. My first business is my party store, I've been doing that successfully online only for over 5 years now.. When ever I look at a company, I think to myself how would that go with my party store. I added scent-sations back in Jan of 07 after my party store was established enough to where I could handle it, and I'm doing well with that business too.. Having more then one business is not for everyone and I think it depends on what type of business your doing. I don't suggest starting two businesses at one time, but if you have a business that's established enough and you can handle taking on another one then go for it.. You have to have the passion for the business and be very consistent..
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Postby morgana on Fri Apr 11, 2008 4:26 pm

Hi Moms - here's my two cents:

I think it's a great idea to work two projects at the same time, provided they are very diffrent from each other so that there would not be a conflict of interest.

However, you might want to get one up and running solidly before you take on another so that you don't overwhelm yourself.

I would never suggest to a newbie to start two projects at once. That's a receipe for disaster!

I think that multiple streams of income are very good, if you are organized and good at keeping your ducks in a row. Also, it certainly isn't uncommon for a company to change it's marketing focus and put a lot of it's reps out of commission, so a secondary project will ensure that your main sorce of income is not taken from you for reasons that are beyond your control.

Personally, I work with two projects, one primary in the field of technology, and a secondary project that is for book lovers. One project is six times more costly to get started with than the other, so I find that having a solid secondary to filter people into if they are on a limited budget is a great way to avoid leaving people behind.

In so far as marketing goes, on certain days I market one project, and on other days, the other. The marketing process is basically the same for either project.

It's working for me :D

Cheers!

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Re: Is taking on two business opportunities a common mistake

Postby MaryA on Tue Jul 08, 2008 5:57 pm

melmel wrote:Is taking on two business opportunities a common mistake or can they both be managed successfully? Is anyone here in the same boat and can you provide any tips and/or lessons learned?

Yes taking on two businesses can be a mistake and yes two businesses can be managed successfully.

Timing, complexity and the time it takes to work different businesses would be important factors to consider. You wouldn't want one to suffer at the expense of the other.

I enjoy variety and earning income from more than one source. I don't want to have all my eggs in one basket but realize my limitations too. If I can't stay in touch and keep all of my customers happy then I know that I need to change my focus or work strategy until I can.

We can multitask and get good at it. Variety in business can bring a really good balance. If you have two or businesses and they are all health products that probably would not be a good balance unless they were so different that they actually complimented each other.

Remember to use wisdom and trust your gut when it comes to YOUR business.
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Postby Audrey on Sat Jul 12, 2008 6:16 pm

I enjoy variety and earning income from more than one source. I don't want to have all my eggs in one basket but realize my limitations too. If I can't stay in touch and keep all of my customers happy then I know that I need to change my focus or work strategy until I can.


I'm not sure if you and I agree or disagree here ;)

I have a scrapbook website. On the site are affiliate links and googlle ads. Since the site gets hits, I earn money and I love it.

I get emails at least one per day from someone with a scrapbooking question. I invest the time to answer.

So, I am earning money from a source other than my Tupperware business, but I am not putting time into building a business, marketing a business etc. In fact when I send an email back to those with the scrapbooking questions, I put Tupperware site into my signature, so I'm really marketing that, not the scrapbooking.
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Re: Is taking on two business opportunities a common mistake...

Postby janice2009 on Fri Jan 16, 2009 10:31 am

Wow... That's really challenging... The idea has tempted me before but I don't think I can juggle both of them well... Business is a gamble any way, it's a game of high stakes and profit... I wish you all the luck! :D
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