I received word last night that iLearningGlobal has shut down their networking marketing department. Just like that, all their “consultants” had lost income streams. iLearning Global is a professional development company offering education in all areas of business and personal growth. Membership offered access to the development tools, an incredible core of teachers and a way to make money by sharing these education tools. With low overhead and high payouts it seemed like an incredible opportunity.
But businesses often change course or focus and that can leave its employees or distributors holding the bag. Whatever your passion, network marketing to traditional business, here are some tips to help keep you in the game.
- Industry awareness – Network marketing is a business model with its own resources. From online watch dogs to industry magazines keeping on top of the comings and goings of business can be a little overwhelming but a necessary activity for the MLM professional. Watching and understanding trends and longevity position you as a leader in not only your company but in the industry.
- Affiliate income streams – Industry professionals use many tools and education programs to further their own foot holding and business knowledge. Most of these programs offer affiliate commissions available through simple advertising and promotion on your website, blog or social sites. This type income can offset your cost of business (ie marketing and personal development) and should not be over looked.
- Contact Management – Owning your own list is a gold mine in business. Think of how often your name and information has been sold in the retail market so a store you’ve never bought a thing from can market to you. Owning your own “opted in” lists allows you to market, educate, qualify, support and share information with people that have chosen to hear from you.
A business closing may change your direction but it doesn’t have to knock you off the horse!