Is MLM so bad?

[Laâziz]

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!

 

[TCMorgan]

Are MLMs bad? Yes and no.

Is your goal to make a worthwhile living while maintaining a work-life balance and a social circle? Then yes, MLMs are terrible.

Is your goal to put a few extra bucks in your pocket, and you've found a company that allows you to sell a product people actually want? Then no, MLMs aren't that bad.

Two stories: one to the first point and one to the second.

1. A friend of mine got into insurance sales in a MLM structured company. After working 60-hour weeks and wringing his network dry, he had made $29k in a year. He spent a whole lot of time and annoyed a whole lot of people just to find out he could make more working in a warehouse 30 hours a week. Clearly, the MLM wasn't what he was looking for.

2. My wife wears Colorstreet nails. They're essentially nail polish strips that come in different designs. They're sold by consultants in a MLM structured organization. She would get a dozen compliments on her nails a week, and would often refer people to the consultant she purchased from. She became a consultant simply because she could pull 25% from selling these nails to people instead of referring them to someone else. No pressure, no cold outreach, and no expectation since it's not her sole source of income. This is the ONLY way I'd recommend an MLM.

Bottom line - It's not fastlane and definitely not worth pursuing as a career.

 

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