Is multi-level marketing a good way to become a millionaire?

Question

A colleague trying to recruit me into a multi-level marketing group (PrePaid legal) told me that most millionaires in America became wealthy through multi-level marketing. Have you heard that? Any truth at all to this?

Answer 1

Sure, there are a few who have made money doing 'multi-level marketing', but the majority of folks who get into it lose their backsides. It's basically a pyramid scheme. I'd avoid it.

Answer 2

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RE:
Is multi-level marketing a good way to become a millionaire?
A colleague trying to recruit me into a multi-level marketing group (PrePaid legal) told me that most millionaires in America became wealthy through multi-level marketing. Have you heard that? Any truth at all to this?

Answer 3

I don't know about most millionaires in America becoming wealthy through MLM, but I certainly know some. However there are some things you must get clear in your mind first.
Probably the most important thing is to look at it with an open mind, forget about those who say it does not work and be wary of those who say you will be a millionaire.
Success in MLM is up to you, you have to have the correct mindset because you will be working with people and I will promise you one thing, that can make it a roller coaster ride.
If you have a winning attitude and a white hot burning desire to succeed then you should consider it, but realise that if you get involved you must stick with it until you succeed, there is no point in starting and giving up within one year minimum. You will have to consider your first year as a training period, rather like going to the School of Success, the only difference here is you can still be earning while you learn.
The other thing to look at is the company itself and more particularly the owners, what do they actually know about MLM, have they been involved as reps, if not be wary as they may well be putting the company's finances in front of the reps income.
What you need to do is study the compensation plans, and try to find out how they have been increased for the benefit of the reps over the last few years, if they haven't changed walk away.
MLM is the fastest growing industry in the world today, it is the driving force in the new distribution revolution which is advancing throughout the world, as companies strive to get their products to customers in the most economic way.
Yes you will get people saying it is a pyramid scheme, but pyramid schemes are highly illegal and MLM with a good company is certainly not, sure there are bad companies, but that happens in the traditional world as well. In fact any large company has a pyramid shape, one man at the top and increasing layers of employees below, the man at the top earns an income from the efforts of the employees.
If you would like any more of my thoughts send me an email and we can chat some more.

Answer 4

Here are some stats... http://www.businessforhome.org/2014/04/top-150-worldwide-earners-in-mlm-april-2014/

Network Marketing can be very lucrative. No formal education required. MLM is just smart leveraging if you join the right organization.

Let's face it we are ALL in a MLM. The question is are YOU leveraging where you work ... or are YOU being LEVERAGED?

Three big challenges:
1. People join thinking its a lottery ie they are going to sign up a superstar who will bring them to the top
2. People are not treating it as a profession
3. Attrition

If you treat it like a profession. There are Network Marketing companies who have little to no attrition. That my friend is golden! Then it's just a matter of share share share! http://tamararogers.com

Answer 5

I 100% agree with Douglas B. He's a very wise and knows this world very well. He's a highly successful business man, just take a look at his profile. I know a lot of people involved in the company he is in that are very well off. With all organizations like he said, Look at the compensation plan through the business. Check out to see if things change, income etc. It also all depends on what you do. If you put a commitment ( a solid commitment, not half fast) then you will succeed. If you half fast it, you won't. The main thing is being coach able and do everything they tell you to do and nothing less.

Answer 6

Network Marketing is, in my opinion as well as many others, the most ideal way to create wealth. In that same sense, it's not for everyone. It takes consistent work and effort, and most people are looking for some get rich quick type of business, but that is just not doable.

It's like this...
If a custodian decides to stop mopping the floors, the money stops.
If a lawyer stops suing people, the money stops.
If a teacher decides to no longer teach, the money stops.

This is true in almost every profession, when you stop working, the money stops. But this is not true in network marketing.

Network marketing is just the opposite. In the beginning, you do a lot of work building a foundation, getting a team started and what not, work that you don't get paid for, or at least not enough for. But in the end, you get a whole lot of pay even when you don't work.

Most people quit before they've experienced the latter side of network marketing.

As for becoming wealthy...many most likely have created great wealth through network marketing, then used that with other avenues of investing. It's the multiple streams of income and assets that solidify their abundance.

Overall, it all depends on the person. I mean why is it that some people can make it work, and others cannot, even though they have the same tools and training?

Answer 7

Mlm Millionaires

Answer 8

Network Marketing is a very lucrative industry. It is growing quickly due to modern conveniences such as the internet which allows you to network from home. I found a very successful company that is producing leaders earning a six figure income monthly, but it's not for everyone. If you are looking for an opportunity don't go with a multi level marketing company, find a direct sales company. The difference is payday. With DS you get paid when you make the sale or signup, with MLM you get paid after the big fish above you has taken 75% of your profit. Most DS companies will require you to forfeit your first one or two sales, but after that all the profit is yours. MLM's don't do that. You will always share a % of your profit with someone else which sucks when you are doing all the work. Hope this helps! Good luck!
www.moretime4life.info

Answer 9

Its a lie, most millionairs made thier money in REAL ESTATE through the devaluation of the dollar and the increasing demand for the little land around cities.

To make it in mlm you have to be a sleaze, you sell potions or lotions people do not oftern used for prices higher than the dimestore.

Im not particularly pitching me but the GDI opportunity sell a product, domain names, lots of people need them no potions or lotions, $10/mo recruit 10 and yours is free, not each month but free then on out...

Answer 10

I have tried like 5 mulit level marketing over about 3 years and they dont work.

It took me 3 years to understnad this. Find someone that makes YOU money.