• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. The forum software will be upgraded on Sunday May 26th and may not look normal during the transition. Some functionality may be offline. This is TEMPORARY and is expected to last up to 8 hours.
  2. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

USANA - any advice here?

Discussion in 'General Entrepreneur Discussion' started by Mr K, Jan 21, 2008.

  1. Mr K
    Offline

    Mr K New Contributor

    Messages:
    45
    Likes Received:
    6
    Joined:
    Jan 14, 2008
    Rep Bank:
    $44
    Hi there

    So I'm looking at ways to offset my day job income & I chatted last night to a couple of guys who sell USANA products & fanchises. I'm always a bit skeptical of these type of things - for a start the encourage floggin' stuff off to your family and friends - which I always dislike doing (although I guess if the product is that good, then yeah I have no probs).

    I'm wondering if anyone here has advice about Direct Selling businesses, these MLM type (USANA say they are not MLM, but you do earn your points based on the people below you). www.usana.com is their global site

    Cheers
    K
     
  2. MJ DeMarco
    Offline

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    28,044
    Likes Received:
    93,357
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $404,781
    Admin Post
    * Reserving space .... will comment later ***
     
  3. JScott
    Offline

    JScott Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    3,861
    Likes Received:
    6,447
    Joined:
    Aug 24, 2007
    Rep Bank:
    $46,582
    Not to detract from what I'm sure will be a fun post for MJ, :), but I believe the general rule on this forum is no discussion of MLM-type businesses...

    Some people love MLM, some hate it, and while there are probably decent MLM businesses out there (maybe), most of them look to take advantage of the "greater fool" theory.

    It's MJ's forum, so it's his call, but based on what I saw over at RD, these types of dicussions eventually start to permeate every thread, every sig, and generally detract from the goodness of the forum.

    Just my $.02...
     
  4. MJ DeMarco
    Offline

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    28,044
    Likes Received:
    93,357
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $404,781
    Admin Post
    :notworthy: Thx J ... How about we start with an explanation of the "greater fool" theory. I never heard that but want too!!!!
     
  5. andviv
    Offline

    andviv Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    5,411
    Likes Received:
    2,172
    Joined:
    Jul 27, 2007
    Gender:
    Male
    Location:
    Washington DC
    Rep Bank:
    $3,421
    well, I saw this thread and thought "oh boy, another thread to lock down" but was surprised that MJ didn't do it first.

    I can only assume that the main point is again the same... if you are the one buying the franchise you are somebody else's fastlane plan. If you are the one selling the franchises then you are creating your fastlane business.

    The problem here, in my opinion, is that Mr K is just looking for offsetting his day job income. He does not want to make this his fastlane idea or business development. Problem is, you are probably not offsetting it, you are just changing jobs.
     
  6. JScott
    Offline

    JScott Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    3,861
    Likes Received:
    6,447
    Joined:
    Aug 24, 2007
    Rep Bank:
    $46,582
    Wikipedia says it better than I can:

    "The bigger fool theory or greater fool theory (also called survivor investing) is the belief held by one who makes a questionable investment, with the assumption that they will be able to sell it later to "a bigger fool"; in other words, buying something not because you believe that it is worth the price, but rather because you believe that you will be able to sell it to some one else for an even higher price.

    It might be on some occasions a valid method of making money in the stock market -- however, the market participants eventually realize that the price level is too outrageous and the speculative bubble pops. The bigger fool theory relies on market optimism concerning a particular stock, an industry, or the market as a whole."


    http://en.wikipedia.org/wiki/Bigger_fool_theory

    The greater fool theory is often responsible for those things we consider as "bubbles." For example, the tech bubble of the late 90's, people were buying stocks at ever higher prices -- REGARDLESS OF THEIR ACTUAL VALUE -- because they believed they could find some other "fool" who would pay even more. Eventually, it all came crashing down. And the biggest fool ended up without a chair... (how's that for mixed metaphors :))
     
  7. Mr K
    Offline

    Mr K New Contributor

    Messages:
    45
    Likes Received:
    6
    Joined:
    Jan 14, 2008
    Rep Bank:
    $44
    Mr K goes red in face - makes noobie mistake bringing up forbidden topics ... sorry all. Thanks for responding.

    @JScott
    You are 100% right, I wasn't particularly looking for endorsement of a particular product. I am itching for a way to offset my income. I desperately want to put something in place that allows me to generate passive income.

    Thanks all, the general advice I'm getting from all places is - create a real business :) he he

    Feel free to lock this thread MJ
     

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page