I have always felt trying to get rich in MLM is like trying to cross the Atlantic in a canoe. While it may be possible, it may be the dumbest way to get across.
Considering all the ways to make money in this world, and considering the history of all the ways people have made money, MLM might be the at the very bottom of the totem pole.
I would bet more people have gotten rich merely saving a few hundred bucks a month in mutual funds than have in MLM (and probably a lot more secure too). Of course, MLMers will claim that MLM has produced more millionaires then something or other which is a total line of BS since there is no evidence of any of that.
Anyhow, always enjoy hearing the thoughts of others, even the biased MLMers themselves. Type on!
(as a last note, this is merely a thought provoking question. MLM is fundamentally flawed since you cannot expand past 30 levels with even a 2 by 2 downline structure - a canoe with no bottom perhaps ).
2006-12-04 10:23:23 · 10 answers · asked by Marcello 2 in Business & Finance ➔ Small Business
Definately the worst way. I have yet to meet someone who can get financing for a house or a car by doing MLM full time.
2006-12-04 10:36:54 · answer #1 · answered by Joe K 6 · 2⤊ 1⤋
Actually, I disagree. MLM is a viable way to make a lot of money. There may be some other great ways out there to make money, I doubt there are any as good as MLM for the average person. Not everyone is going to be able to reach the top levels in sales companies where they might make large incomes, some people, in fact most people are better off slowly building a downline with soft sales.
Its using your own network and using people you know. The more you bring into your downline, the bigger base you are going to build and the more money you will make.
I would much rather build a downline than say, start a business from scratch, own a franchise, or attempt to make my millions in high pressure sales. As long as you keep the right attitude in MLM, such as "some will, some won't, so what" then you are destined to succeed eventually.
If everyone could build a mere 6 people wide and 6 levels deep, you could all be rich. Thats only 36 people in your downline, 37 if you include yourself. With everyone only having to find 6 people, how simple is this? Certainly easier than starting your own business.
If it was not for MLM I do not know what I would do.
2006-12-04 10:47:53 · answer #2 · answered by Mr_Moore 1 · 0⤊ 1⤋
Well, one thing Mr Moore wouldn't be is a mathematician!
6 x 6 x 6 x 6 x 6 x 6 does not equal 36!!!
Its the worst way, and its people like him that present the reason why. Its supposed to be a sales driven system but in actually is made of of people who could not cut it opening their own business or doing normal sales positions thus you have the parent companies generating nearly all their revenue from sales of the reps buying their own quotas. If MLM was made up of sales superstars it would be the most popular thing on the planet, but there is a reason why MLM has not picked up after 50 years of existence and why any good sales people stay away. Mr. Moore might have showed it best (math abilities aside!).
2006-12-04 10:52:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I think it depends on the person. There are certain personalities that work well with MLM. For the general population, I would say, it is the worst way.
My brother-in-law has made MLM work for him, he has the personality for it. And he certainly makes much much more money than I and my husband combined. I have tried MLM once, and it was to let my husband discover his own mistakes. He does not have the same personality as his brother and subsequently failed in the endeavor. I found out I was way too cynical to even pretend to "buy" into it.
I think that MLM is less like using a canoe to cross the Atlantic but more like trying to cross it by convincing pirates that you can make them reach beyond their imaginings if they would only let you use their boat.
2006-12-04 10:38:49 · answer #4 · answered by joycedomingo 3 · 1⤊ 1⤋
Worst way.
Trying to get rich in MLM is more like trying to go to the moon using tooth picks and a paper clip and telling your friends and family that your upline has already been to the moon because you heard about it in a business meeting just to sell more tooth picks and paper clips.
No matter how many people come out of the woodwork to tell you MLM is just another means of making money or the most brilliant model since the beginning of time, it will never change the fact that the only people making constant money in MLM are the ones selling the training material. The fools who keep buying it are a sad bunch, but there is a sucker born every minute and suckers and MLM go together like peanut butter and jelly. Sorry to say I have a family member who is a total sucker for it.
2006-12-04 10:36:57 · answer #5 · answered by Megan S 2 · 2⤊ 2⤋
To a biased Anti-MLM'r that would be true. But to an experienced one, you and some other people's 'facts' here are so ridiculous that it's like asking a bunch of kindergarten kids about real estate investing.
You say "considering all the ways to make money in this world"...how many people actually make money. How many do you think will retire comfortably? Not very many. Most retire broke or close to it and rely on the government to support them through their 'golden years'.
You would lose your bet that that more people have gotten rich merely saving a few hundred bucks a month in mutual funds. Yes, it's another stream of income, but iffy at best. Just ask a few senior citizens who have tried to collect it what the tax man has done for them.
There is tons of evidence of MLM'rs earning phenomenal incomes. Not by preying on their downline either. Don't know where you people get that from, it's beyond ridiculous.
This is not even close to a thought provoking question, it's just another attempt to get others to jump on your Anti-MLM bandwagon and slag it with their so called 'facts'. You and these other naysayers have never been involved with it...obviously...and conjure up all these zany facts and post them as truth. Nothing could be farther from the truth.
Rich people take advice from people who are richer than they are. Poor people take advice from their friends who are just as broke as they are.
Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion. Resenting promotion is one of the greatest obstacles to success.
I for one, certainly don't want to be anything like you. I will continue promoting my product and my value regardless of your petty little objections.
2006-12-04 20:43:31 · answer #6 · answered by Anonymous · 2⤊ 1⤋
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2014-07-12 08:58:00 · answer #7 · answered by Rishi 1 · 0⤊ 0⤋
http://en.wikipedia.org/wiki/Ponzi_scheme
The people on top always seem to make the most cash, and there is always a loser so I would say NO to MLM
2006-12-04 10:33:04 · answer #8 · answered by cowrepo 4 · 1⤊ 1⤋