Fading Giants—the Tendency for Recognized Leaders to “lose It” as Mega Builders

Eileen Silva asked:

On his left was another legend of MLM— heir to one of the largest MLM fortunes to ever be amassed and owner of the company that was, arguably, the most charismatic and wealthy meteoric-rise-to-riches ever to hit our industry. My husband, Taylor Hegan, and I, who have made in excess of three million dollars the last few years, as well as creating over a dozen other millionaires in the last decade, rounded out the circle.

When the subject of industry leaders’ ability to repeat their successes as they move from one company to another came up, we collectively decided that very few “big” leaders are able to change companies and repeat their track records.

Perhaps the most compelling reason for this is the nature of the dream we sell: “Build an empire that you can manage from the beaches of the world.” “Create financial freedom, which gives you the time freedom to spend with your family and your hobbies.”

We, who have actively helped mold the industry for the last three decades, have noticed that those who hit the big incomes seldom continue to build and work the business aggressively from a recruitment and growth emphasis after their checks surpass $20,000 a month. In light of that sabotage phenomena, I thought it would be useful to offer up some guidelines to help you avoid becoming a statistic once you hit it big!

I suggest that you: 1. Hire a staff to help you run your business like a business; 2. Never abandon doing the leadership steps that got you there. These include: retailing, advertising, sponsoring, mentoring, training, personal development work, leadership management, daily communication, and event planning. With the current trend in compensation payouts and telecommunication systems, as well as recruiting systems, distributors tend to develop their loyalty to their products and company. One of the biggest money earners of all time recently made this interesting statement: “If I wanted to leave my company today (after more than a decade and $35 million commissions earned), I wouldn’t be able to move people with me. They are all so product-bonded that it’s not about me, or the lure of an opportunity; it’s about the results they are creating through retailing systems and new recruiting systems.”

In your less successful days I would encourage you to sponsor your weakness — in other words— if you don’t like doing mail order, I would encourage you to sponsor someone who did. As you progress up the ladder of success with MLM, let me implore you to hire your weaknesses— so that within your immediate direction, your office continues to execute all the necessary phases of the business.

Let me also suggest that at the very least you plug back in 10% of your income toward business expenses…. and quite possibly it would be appropriate to invest considerably more than that. Taylor and I spend many thousands per month on expenses, but as he is quick to point out that we have steadily amassed a fortune in the face of this expanded tab.

If you want to avoid becoming a fading giant, you must continuously assess your business developments and surround yourself with a mastermind group that will stimulate you to be the best you can be. Remember: the true great leaders of MLM are not necessarily the biggest earners; they are the most well- rounded performers with industry staying power. Make sure, as you take your career to the superstar level, that you remember the importance of continuing to execute the tasks that originally got you there! You will then be, as multi-millionaire, Charles Givens, has always said, “Ten feet tall and bulletproof.”

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