I have a few acquaintances (I wouldn’t call them “friends”) in multi-level marketing. The ones who enjoy it do it as a hobby. They throw a couple of parties each year, don’t do any other solicitation, and fill orders for a relatively small list of family/friends.
I also have a few acquaintances who are really serious about MLM. I can’t tell you how well they’re doing because whenever they get near, they have their order book out and I spend my time trying to avoid them.
Or they do it to get a discount on the products.
Why do I get the feeling that you are ignoring all the pitfalls we’ve laid out before you? Doesn’t anything we’ve told you make you question getting into this business?
Because eventually once they’re joined up, we get to hear what they’re selling…
MLM is really hard to make money off of nowadays. In days of yore, before the internet, yea, before the Sears catalog, you could make a good living selling tools, cosmetics, guns, etc. in small farming communities. Nowadays, why should people buy from you when Amazon.com has it for the same amount? Why should they trust you and your small business with no reviews?
So how did the tax return look?
Or are you still trying to make a decision by looking only at the sales brochure? If so, boy do I have the used car for you. Only $1000 as a special to you, but the blue book is at least $5000. Nothing wrong with it at all, trust me. Um, no, you can’t have your own mechanic look at it first. I would never steer you wrong, though.
This is a great article about Amway, and by extension most other MLM’s.
The article is long but fascinating. It describes the type of MLM that sells dreams. Please read it and watch for the troubling signs that your friends business is using the same practices.
The best way to know if this is a legitimate opportunity is to listen to what your friends are trying to sell. If the primary focus is on building a down line of people then run away as fast as you can. People in these MLM’s are HEAVILY encouraged to show signs of wealth which they cannot afford. They’re told that you have to “think rich to be rich”, and “fake it until you make it”. Neither of these are mantras you should hear from your “boss”.
Of particular note - you mentioned the word “dreamy” which is a major catch phrase and red flag. Just read the first couple paragraphs of the article above to see why.
This has been on Penn & Teller’s Bullshit
Their lawyers warned them against using the term ‘Ponzi Scheme’ but that’s what it is.
Bottom line, everyone but those at the very top get screwed.
Correct. It’s more daydreamy.
I work over seas so the time difference is off but I am reading all the suggestions.
I’ve decided to hold off on the “business opportunity.” Thanks for all the opinions!!
Well done, you.
High five to all the posters who laid out the reasons this was a spectacularly bad idea!
Reported as spam
Seems legit.