The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Is MLM so bad?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

ScottRams

New Contributor
Dec 4, 2017
10
8
14
27
Texas
Hello everyone. An old colleague of mine just approached me with a business opportunity to work for World Financial Group / Transamerica. Does anyone have experience with these companies or this opportunity? He's doing extremely well (18k last month) and has been at it for a little less than 2 years. I am trying to decide whether or not to start my own business (service based business in the Auto industry) or let him take me on as a mentee and try my hand at selling life insurance and financial products. It is a MLM business model, sell the products and sign up others under yourself. I've seen mixed reviews on the company.. I know people aren't too MLM friendly around here so let me disclaim, I am not promoting their products or company, just asking for honest feedback. Thanks!
 

Don't like ads? Remove them while supporting the forum. Subscribe.

rollerskates

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 10, 2017
367
984
341
Texas
I'm really anti-MLM, but think of it this way, what's your big goal? Work for yourself? Just do something to pay the bills? Is this part of your big life plan? Will you resent the bigger earnings your friend makes for putting you in his downline? Is this company something you believe in?

I have gone through times where I'm dead broke, and not once have I considered selling candles or tacky clothing or oils or all that other stuff my friends peddle. It's a terrible way to make money, and mostly you are working to increase other people's income when you do this. Consider how it would affect your friendship as well.

If you're doing it solely for the money, I recommend going a different route. You don't have to actually answer my questions but it's something to think about.
 

Scot

Salad Dressing Empire
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 10, 2016
2,975
13,760
2,796
Florida
selling life insurance and financial products. It is a MLM business model, sell the products and sign up others under yourself.
Do you have friends and family?

A decent number of friends on Facebook?

Are you the kind of person that cares about what others think of him?

Then... be prepared to piss off everyone you like. Can you honestly say that you've ever wanted to talk to someone trying to sell you Life Insurance or Retirement? Or did you avoid them like the plague.
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
30,463
110,966
3,751
Fountain Hills, AZ
Is MLM so bad?
Yes. It's that bad.

Does anyone have experience with these companies or this opportunity? He's doing extremely well (18k last month)
I wouldn't call that extremely well, but yes, extremely well in an MLM.

I'd guess your friend would kill it if he put Fastlane principles to work instead of subordinating himself in a hierarchical control structure.

And if you think MLM is great, try declining your friend's offer and see what direction your friendship goes.

Now extrapolate that to all your friends and family.

You don't want to be the annoying guy at the party, on Facebook, at the picnic, or at the ballgame -- but eventually all MLMs will do that to you-- they turn you into the "no, don't invite him!" annoying guy.
 

garyfritz

Silver Contributor
Read Millionaire Fastlane
Summit Attendee
Jul 16, 2011
675
711
318
Colorado
See my previous MLM response here: Anyone involved in Worldwide Dream Builders/Amway?

If your buddy is making $18k/month -- are you SURE that is $18k NET PROFIT?? -- then he is incredibly exceptional. Probably 99.9% (or more) of the people entering the company don't succeed like that. And he's probably alienated a whole lot of his friends and remote acquaintances to get there.

Apply your energy to your OWN business and you'll almost certainly better than you would by trying to build an MLM organization.
 

DrunkFish

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 25, 2015
182
268
176
25
Missouri
I have literally never in my life liked being around someone who 'does' mlm for a living. Family or not, successful or not.
 

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,139
365
Various
If you get in at ground level, and the particular scam MLM you're in takes off, and you're sure they've fully skirted anti Ponzi scheme laws, and you're happy getting wealthy primarily off other people's stupidity and desire to piss on their reputations for a few bucks, then yes it's not so bad.
 

Bhanu

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 23, 2017
156
275
170
34
Run..Run as fast as you can from anything MLM .
I have been a member of a MLM and believe me it started affecting my relationship with friends,family .Plus pressure from member above you was so stupid . I felt like a slave working in MLM .Never going there ever .
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Bennu

Contributor
Read Millionaire Fastlane
Apr 19, 2018
15
41
22
I was involved in a couple of MLM's over the years, and there are two reasons I will never touch them again:

1. You are constantly working and will never be able to stop. It's worse than a job. You literally have to make it everything you think about and do 24/7 to get anywhere and not just for a couple of years, but for as long as you do it. Those top people who have all that money? They didn't make it through the MLM. They're the ones selling it to people like you. They're shills, stand-ins, fakes. It's like the cups and balls game or three card monty on the street. A couple of friends of the guy act like "customers" and they "win", showing how easy it is to win. Then the dupe tries and they get played. You may as well give all your money to a televangelist for all the ROI you'll get.

2. It forces you to look at everyone you know and everyone you meet as a prospect. It will make people avoid you. You'll never be able to have any kind of normal relationship with anyone because everything is filtered through whether or not they'll get on board with the MLM. MLM's will take the most well-meaning, earnest people and turn them into annoying douchebags. Stay away!
 

Raoul Duke

You wouldn't get it.
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Feb 26, 2016
1,561
5,504
1,285
...
 
Last edited:

Rabelo

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 4, 2017
60
106
131
secunda
MLM is not bad at all... what matters is...which side are you on? Founder or the other ? Most people fall under the "other" and that's what makes it bad.
In summary...build one ..if not...just stay away from that industry
 

garyfritz

Silver Contributor
Read Millionaire Fastlane
Summit Attendee
Jul 16, 2011
675
711
318
Colorado
In summary...build one ..if not...just stay away from that industry
If you can successfully build and run an MLM company (which requires all the same "skills" as a lowly distributor building his organization from scratch, in addition to company-running skills), and if you don't mind using people and lying to people (you have to sell everybody on the dream, even if you know 99% of them will fail), etc, then yes, you might make good money.

But I would say "stay away from that industry" anyway. Go build something that doesn't take advantage of gullible and desperate people.
 

Rabelo

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 4, 2017
60
106
131
secunda
if you don't mind using people and lying to people (you have to sell everybody on the dream, even if you know 99% of them will fail), etc, then yes, you might make good money.
it depends what product you are selling. there are some good MLM companies that sells good product but rare,this industry has been saturated by crappy MLM Companies aimed to trick people and deliver 10 times less than expected
 

garyfritz

Silver Contributor
Read Millionaire Fastlane
Summit Attendee
Jul 16, 2011
675
711
318
Colorado
it depends what product you are selling. there are some good MLM companies that sells good product but rare,this industry has been saturated by crappy MLM Companies aimed to trick people and deliver 10 times less than expected
If the PRODUCT you are selling is the MLM's actual PRODUCT, then fine. But you'd be better off to sell your own product without the overhead, stigma, etc of the MLM.

If the PRODUCT you are selling is, in reality, the MLM ITSELF and its "opportunity" -- then not fine. Refer back to my earlier posts.

And yes, I agree with @Vig. This topic has been beaten to death many times before. You're not likely to convince anyone here.
 

HackVenture

Digital Marketer
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Mar 11, 2011
342
489
236
Planet Earth
People run away from you as soon as they hear that you are into MLM.

Friends and relatives look at you with pity and dread in their eyes.

That should be enough to turn anyone away from any MLM, even if it makes you money, which it often doesn't.
 
OP
OP
ScottRams

ScottRams

New Contributor
Dec 4, 2017
10
8
14
27
Texas
Wow, it seems pretty unanimous! Thanks to everyone who offered some advice. Real Real Denver, that was the best info I have been able to find on WFG so far, I really appreciate you posting the link. It's safe to say I will be moving in a different direction.....
 

Don't like ads? Remove them while supporting the forum. Subscribe.

KenCorigliano

TCMethod
FASTLANE INSIDER
I've Read UNSCRIPTED
Jan 29, 2020
40
40
107
Washington DC area
What's frustrating is that there is a company that has a really amazing product. Many of the world's most accomplished athletes and performers use the product. I don't understand why they do MLM. Why can't they just have a store? What is the real benefit? If the product is good, which I know it is, because I use it and get it from a friend who is a distributor. But this MLM interface is a disaster.

Has anyone used or seen lifewave.com products?
 

Tourmaline

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jun 4, 2019
793
902
333
Texas
Does lifewave raise any red flags for you?
 

KenCorigliano

TCMethod
FASTLANE INSIDER
I've Read UNSCRIPTED
Jan 29, 2020
40
40
107
Washington DC area
Does lifewave raise any red flags for you?
I don't know. I know I'm very frustrated as I recently signed up and can't figure out how to just copy and paste some links to people. I have no plan to deviate from the fast lane or being unscripted, so I will not be pushing this product. It seems like I have to sign up distributors just to keep ability of buying it, so yes that part is a red flag. Why would a company make it stupid just to buy stuff. They have this very interesting stem cell regeneration patch that is making some waves with folks. Older more affluent people are buying these things up in hopes of extending healthy years. The people using this are not really speaking about it as it's kinda strange tech, but perhaps they'd rather not have all their competition using it. Who knows.

I am in advanced technology and specifically biohacking stuff is really part of my lane so I do get stuff like this and road test it. This is one of the very few things that have outsized benefits.

Just talking about it I feel the slimy feeling one of the other guys on here was talking about. Just don't get this business model.
 

Tourmaline

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jun 4, 2019
793
902
333
Texas
MLM makes crazy money for the founders. Amway is the classic example.

I was referring to Lifewave's main product, the X39 patch. Super sketchy.

I suppose because I'm in the metaphysical space, stuff like this irks me. It gives the whole space a really bad name.

It uses 'phototherapy' to 'activate stem cells'. Specifically, they claim it increases the amount of the GHK-cu peptide found in the body. How does it work? The heat from your body causes light to be put off by the patch. Sound so believable and simple right, it's just like the sun and how that makes you produce Vitamin D!

The cost is just $150 for 30 patches, so $5/patch. And they promote using multiple on your body at once.

Oh and of course it's like super amazing: Increases wound healing, Pain relief, Increase energy, Better sleep, Younger skin, Anti-aging, Faster workout recovery, Scar reduction.

Like who doesn't want some if not all of that?

So yeah. A few red flags. And by few I mean like 18.

And then if you really want to have fun, look into the founder. lmfao

"As a result of his innovations, David was presented with an honorary doctorate by Dr. Alexander Marinaccio of the International Hall of Fame of Inventors. "

Hmm interesting, International Hall of Fame of Inventors. Well I've never heard of it, but that sounds awfully prestigious right?

LMFAO

Bro I can't make this shit up.

30322

So A. the International Hall of Fame of Inventors doesn't appear to exist and B. WHO THE F*ck GETS AN HONORARY DEGREE FROM A NON-EDUCATIONAL INSTITUTION?


In conclusion,

Lifewave both appears to be an overpriced mostly-scam-crock-of-:shit: while being an exploitative MLM.

And this is coming from someone that sells crystals so I have quite the open mind towards metaphysical mumbo-jumbo.
 

ecommercewolf

Bronze Contributor
FASTLANE INSIDER
Speedway Pass
Jan 8, 2019
258
238
156
Dallas, TX
A fair amount of successful people did MLM and aren't against it because it built the foundation for personal development, sales etc...

However the common pattern from what I've seen is that they pivoted outside of MLM to achieve success and income...

That says a lot.
 

Kevin88660

Gold Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
1,020
1,004
365
Singapore
Hello everyone. An old colleague of mine just approached me with a business opportunity to work for World Financial Group / Transamerica. Does anyone have experience with these companies or this opportunity? He's doing extremely well (18k last month) and has been at it for a little less than 2 years. I am trying to decide whether or not to start my own business (service based business in the Auto industry) or let him take me on as a mentee and try my hand at selling life insurance and financial products. It is a MLM business model, sell the products and sign up others under yourself. I've seen mixed reviews on the company.. I know people aren't too MLM friendly around here so let me disclaim, I am not promoting their products or company, just asking for honest feedback. Thanks!
It is a bad business because of the way it is being run.

1) They sell overpriced products which are not competitive in the market place.

2) Hence the business strategy relies on recruitment, selling the dream of making money from the “greater fool”.
 

JAJT

Ha Ha! Business
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Aug 7, 2012
2,780
15,026
3,256
Ontario, Canada
An old colleague of mine just approached me with a business opportunity
This is how the MLM game is played - you have to squeeze the life out of your network (burning every bridge you cross while you're at it) in order to make it work.

This means calling on everyone who has ever known your name to offer them a "business opportunity" and impressing them with a nice big number (like, say, 18k last month!).

The reason is simple - you need a show-stopping "hook" to get such weak connections to give a shit and the promise of even a chance at 10x their current salaries is the perfect bait to get people to let their guard down just long enough to have a chance at exploiting them.

There are three ways that an MLM goes:

1. You have a weak as shit network. You almost certainly won't do well because you'll be tapped out for leads almost as soon as you start and have no place to go from there. So you fail quickly. This is honestly not a bad way to go since failing fast is always better than failing slowly.

2. You have a strong as hell network. This means you'll probably do okay for a while but it will mean burning your network behind you with every successful step you take. Nobody wants to be a "lead" in a network - they want to be a valuable connection of mutual benefit. So either you piss them off by even asking, or you piss them off by "winning" their business when they snap out of it and realize they've been conned. Besides - even a strong network will run dry sooner or later like this. So you'll fail slowly, but you'll still fail, and you'll have burned every bridge you ever knew in the process.

3. Regardless of your network - you absolutely F*cking kill it. This is the funniest option. It's funny because if you are the type of person who can make an MLM work, keep the leads coming and sales closing and network expanding, then you are EXACTLY the type of person who can do 10x better in a real sales job. So even in success, you're trading your time and skill for pennies on the dollar.
 

Laâziz

New Contributor
Nov 19, 2019
9
1
11
I use the MLM project as a wealth accelerator only to obtain funds and thus be able to invest in my initial project of building a business of 1 million dollars
Hello everyone. An old colleague of mine just approached me with a business opportunity to work for World Financial Group / Transamerica. Does anyone have experience with these companies or this opportunity? He's doing extremely well (18k last month) and has been at it for a little less than 2 years. I am trying to decide whether or not to start my own business (service based business in the Auto industry) or let him take me on as a mentee and try my hand at selling life insurance and financial products. It is a MLM business model, sell the products and sign up others under yourself. I've seen mixed reviews on the company.. I know people aren't too MLM friendly around here so let me disclaim, I am not promoting their products or company, just asking for honest feedback. Thanks!
 

Process

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 19, 2017
243
520
249
Solving Pain
Its a fantabulous idea because you get to tell everyone about the great sage Kiosaki. You also get to ask every random person to meet with you for a “job opportunity.” And circling giant numbers on a piece of paper is the icing on the cake.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Kill Bigger Incubator
Hi Kyle, I sent you an email a couple of days ago. Just letting you know, in case it went to...
  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
I'm thinking about joining the program. How is it like joining from Asia (Japan specifically)...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Well, we made it halfway through the year. Don't know what the rest'll bring, but it's gonna be...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Not really a teaser but it does employ a fictional story, so that is similiar. This upcoming...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Dropping a quick note in here to say... if you are on TFL, you are part of an elite group of...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom