Multi Level Marketing – Bad Investment or Bad Rap?
The purpose of this forum is to seek positive and negative experiences in various marketing ventures.
I always get a little upset when people say, “That’s a Pyramid Scheme”, without understanding why that phrase is so widely used. In the past there were few if any laws to control company marketing plans. It was not uncommon for people to have hundreds of dollars of product in their garage that they couldn't sell or even give away. Sometimes the company went out of business before a distributor could make that promised fortune, and sometimes the company was just run by people without any integrity or ethics. I’m sure there are a lot of existing companies that may be bad investments but how about all the companies that are still active after many years and still generate pay checks every month?
I have participated in unsuccessful MLM’s in the past, yet I know a few people, who have made thousands per month in various MLM companies. Yes, I'm sure this type of income is not made by the average distributor but with dedication and some sales ability I believe that the average person can make a good supplemental income or even a good full time income in some cases.
During the first week of February 2008, I received a phone call from one of the individuals that I knew to be successful in the past with MLM, he told me that he had not been active in any marketing program for 15 years, but wanted me to look at a program that he felt was the best opportunity he had come across in all these years! Sound familiar?
Remembering that many people fail numerous times before they “strike it rich”, I decided to take a look at this “Great Opportunity”. To my surprise the company looked as good as my old MLM acquaintance had told me, in fact it looked like you could participate at no risk, even get your initial investment back by returning the used or unused product within 60 days! Most impressive was fact was that one can get the product at an unbelievable wholesale price. So I'm signing-up to try and fulfill that dream of finacial success!
Please tell us about your experiences, good and bad.
Notice: I recommend that you use your own due diligence before becoming part of a company or purchasing their products.
I always get a little upset when people say, “That’s a Pyramid Scheme”, without understanding why that phrase is so widely used. In the past there were few if any laws to control company marketing plans. It was not uncommon for people to have hundreds of dollars of product in their garage that they couldn't sell or even give away. Sometimes the company went out of business before a distributor could make that promised fortune, and sometimes the company was just run by people without any integrity or ethics. I’m sure there are a lot of existing companies that may be bad investments but how about all the companies that are still active after many years and still generate pay checks every month?
I have participated in unsuccessful MLM’s in the past, yet I know a few people, who have made thousands per month in various MLM companies. Yes, I'm sure this type of income is not made by the average distributor but with dedication and some sales ability I believe that the average person can make a good supplemental income or even a good full time income in some cases.
During the first week of February 2008, I received a phone call from one of the individuals that I knew to be successful in the past with MLM, he told me that he had not been active in any marketing program for 15 years, but wanted me to look at a program that he felt was the best opportunity he had come across in all these years! Sound familiar?
Remembering that many people fail numerous times before they “strike it rich”, I decided to take a look at this “Great Opportunity”. To my surprise the company looked as good as my old MLM acquaintance had told me, in fact it looked like you could participate at no risk, even get your initial investment back by returning the used or unused product within 60 days! Most impressive was fact was that one can get the product at an unbelievable wholesale price. So I'm signing-up to try and fulfill that dream of finacial success!
Please tell us about your experiences, good and bad.
Notice: I recommend that you use your own due diligence before becoming part of a company or purchasing their products.
Views: 1
Replies to This Discussion
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Permalink Reply by blessed2 on -
Me too :>)
Which businesses are you in?
have a great day!
Mary
Myles Harman said:Hi,
I did research on many, MANY home based business. Some which use the network marketing model and some that use a different business model. I am happy to share my knowledge with anyone who is interested. As a result of my research I was able to find the company that was right for me.
Today, I successfully run three home based businesses and many of the people I surround myself with are in the same position. I now help people to find which home business works best for them.
Cal me on 1-810-299-1688 or visit my URL www.homebasedbusinesshelper.com
I look forward to speaking to you.
Kind Regards,
Myles
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Permalink Reply by Mike Kelvin on -
Hello Nice Post.
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Permalink Reply by Todd Klimson on -
These are my 4 rules to test whether a network marketing company is genuine.
#1 Do they make guarantees or promises or even outlandish claims as to how much money you will make. Any claim of immediate success or :”you will be rich in 6 months” should make you run for the hills. In fact, I would run far if any one of them made any claim as to how much money you can make in a specified period of time.
#2 Do a thorough background on the leaders of the company. Find out their experience. I even went so far as to find out where they live. In the US thats all public information. Ask yourself this question “Do I want to join an MLM with leaders that live in a $50,000 house or leaders that live in a multi-million dollar mansion? ” (I’m not implying to not associate with people who live in $50,000 homes, All I am saying is join a company with successful, proven leaders). A persons current life style is a pretty darn good indication as to how much money they make and if they are successful. The 3 leaders in my MLM company have several years of actually setting up and consulting hundreds of mlm companies world-wide. That’s proven leadership. Many companies hired them to consult so if they had a bad reputation I don’t think they would get that much business.
#3 There are rules and regulations governing conduct of MLM companies and their reps. DOES THE COMPANY HAVE A COMPLIANCE DEPARTMENT TO MAKE SURE THEY ARE FOLLOWING THESE RULES. My company has one of the top marketing /compliance leaders in the world and the first thing you see when you join is the compliance video. Thats a pretty darn good indication they follow the rules.
#4 Who’s endorsing the company? This is another biggie. My MLM is endorsed by one of the top coin collectors in the US. He sold over $125,000,000 in numismatic coins last year. IN A RECESSION!! He is a leader in the company and an expert Numismatist. I highly doubt a person of his stature would jeopardize his reputation with a shady MLM company.
Hope this helps. And good luck!!
Todd Klimson
http://internetmoneymagnet.wordpress.com
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