What's the truth on MLMs?

[AndyG7]

I have recently started working with Amway. This is my first experience with an MLM. I can say that I have put a lot of time in so far for not a lot of money yet. I have heard both positive and negatives. Can anyone give me the truth on MLMs? Should I do it, or should I seek a different entrepreneurial vision?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DeletedUser394]

The general consensus: Start an mlm, don't join one.

Good luck.

 

[Tony I]

get out asap

 

[Mrs. BRKb]

Can anyone give me the truth on MLMs? Should I do it, or should I seek a different entrepreneurial vision?

You're asking the right questions. Good thinking.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[FionaS]

https://www.thefastlaneforum.com/community/threads/mlm-debate.28457/

The above link may be useful to you.

The general consensus is that MLMs are a waste of time for most people. You could learn some selling skills, I suppose. But for making money? Not recommended at all. Unless you own the MLM - if you are at the very tippy top of the pyramid, it's a money maker. As a drone, not so much.

 

[Gruby Phil]

MJ was pretty clear about MLM in his book. It violates fastlane commandments. Big money is made by founders of these networks. You are making THEM rich. Did you read TMF ?

 

[AndyG7]

I did read TMF . I need to read it, it has been awhile. I can easily get out, but I have this entrepreneurial spirit. I need to do something else. An MLM seemed to fit that void. I am not sure what else I should direct my energy in at this point in time.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[throttleforward]

I should direct my energy in at this point in time.

Asking people and businesses what frustrates them in their daily life. Also look around your own life - what could be more efficient? What frustrates you every day? Google Dane Maxwell idea extraction for more info on this. Also, check out his other free content (and study how it all comes together in relation to The Foundation - Dane and his team are master marketers). Once you have some frustrations, come back here for more guidance.

Ultimately business is about solving problems and providing value to others, so identifying problems is the first place to start.

 

[Formless]

but I have this entrepreneurial spirit... An MLM seemed to fit that void.

Sales 101. You've been sold a dream.

 

[Kak]

I have recently started working with Amway. This is my first experience with an MLM. I can say that I have put a lot of time in so far for not a lot of money yet. I have heard both positive and negatives. Can anyone give me the truth on MLMs? Should I do it, or should I seek a different entrepreneurial vision?

The truth is you are working for less than minimum wage. I never understood why people would get into this stuff. You can private label your own brand of similar stuff and get all of the profits.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Tiago]

You can't control anything on an MLM. One day you can be making 1000$/day and the next day 0.

 

[MJ DeMarco]

I did read TMF .

If after reading TMF you join an MLM (and then post this question) you are either

1) Not a very good reader.

or

2) A liar.

 

[MyronGainz]

If after reading TMF you join an MLM (and then post this question) you are either

1) Not a very good reader.

or

2) A liar.

Check out this article on MLMs, sums up the business quite well.

http://jathu.ca/casestudies/herbalife-business-model/

If you still want to join an MLM after that, I don't know what else to tell ya!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[randomnumber314]

The general consensus: Start an mlm, don't join one.

Good luck.

http://www.forbes.com/companies/amway/

@AndyG7 hope you're within the trial period, get a refund. Re-read TMF

 

[IAmTheJeff]

http://www.forbes.com/companies/amway/

@AndyG7 hope you're within the trial period, get a refund. Re-read TMF

Holy shiznit!!!!!!!!

 

[DeletedUser2]

amway... the old amazon....

Z

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Gabino Luna]

Joining an MLM is not exploiting your "entrepreneurial spirit", it's exploiting someone else's.

 

[wadza]

If you join an MLM then essentially you're subscribing to the 'consumer' mentality. You're a customer of the MLM, they've 'sold' you on a so-called business opportunity that's neatly packaged up for you. except it isn't really a business and the only way you can make your money back is by selling the 'opportunity' to others who then have to on-sell it to others.

You gotta go from being a 'consumer' to being a 'producer', provide a service or product that people actually want or need.

 

[RHL]

Here are the shortcoming of all jobs, and MLM more than most. It's so painfully simple, but I never realized it before I came to FLF.

Everyone broke says "I need a better job" or "I can't find a job."

Money doesn't come from jobs. It comes from customers. Saying money comes from jobs is as stupid as saying water comes from bottles at the corner store. Yeah, it does, in small quantities, at high prices, and if a manufacturer feels like distributing it in your area. But there's a river out there-millions of gallons of water free to anyone who can walk to the banks (pun intended) and dip their hand in.

MLM and other jobs are someone with more control than you saying, "Make me $100, I'll give you $10." Doesn't sound like that good a deal now, does it, because the guy up the chain made multiple times what you did. But MLM takes it a step lower by foisting most of the risk onto people who sign on. In a normal business, someone has to pioneer an idea and they're taking a risk too, but in MLM, that risk is typically diverted onto the employees, along with the necessity of earning multiple times what you're paid. So whereas at, say, Wawa, the owner has put out $250K for the storefront, $50K for inventory, and pays $14,000/mo rent for the hopping location on the corner, then leverages those tools to allow his $10/hr checkout person to sell $850 worth of product each hour, in an MLM, you buy your demo kit/samples/sale items, you arrange the meetings, you take all the risk, and somebody else still profits.

It does really teach you hustling and sales skills, but only because your situation is so desperate that you're bound not to screw around if you ever want to see your money back. CENTS is like a force of nature, and in the same way that the basic principle of F=MV can both move me to work in a car or murder me at the end of a gun, being on the wrong end of NECEST will murder you, just as surely as it built an empire for the person who had the equation on their side.

Few people NEED what MLMs sell.
The barrier to ENTRY is so low that some, like Vector, spam college student job boards and have to use coercion and trickery to hire people.
You CONTROL nothing.
You can only SCALE by duping other people, and for every dollar you scale your own network up, the people above you make 5x+more.
TIME is your enemy because whether you're trying to recruit or holding sales demos, MLM is a glorified (and extremely shitty) hustle.

Better idea: Ditch this bullshit and read RichKid's post history and learn how to hustle instead.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[IceCreamKid]

You want the truth about MLM's? Here it is:

You have a .001% chance of breaking even on your investment and an even smaller chance of making a living off of it. They'll tell you all kinds of BS like, "All those guys who failed at MLM simply gave up on their dream and weren't willing to work for it!". That's crap. The math doesn't lie...your upline does.

It baffles the hell out of me how some people don't wake up to the facts even after being in an MLM for 5 years. They're stuck in that pipe dream of hope where success is "just around the corner". Lies.

If you were an INSIDERS, you could check out my marketing thread where I reverse engineered the psychology behind why MLM's are so effective at manipulation. When you have the ability to understand and see through the BS, your light bulb moment will arrive.

 

[AndyG7]

Thank you for the responses. MJ, I will be re-reading TMF by the way. I don't have many entrepreneur friends in real life that i why I decided to ask this community of entrepreneurs. I feel pretty dumb for falling for the MLM trick and I will be getting out of it.

 

[Formless]

There you go. On MLMs. And funny.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[AndyG7]

That is funny. Right after I watched this I saw an ad for the MLM Pure Romance and just broke out laughing. I do feel pretty dumb for trying a MLM. Over the past 4 months I have spent countless hours and around $1000 on seminars and products with only a rerun of a little over $100. However I did learn some valuable skills such as the power of reading success books, listening to success CD's, and the power of association. I need to find other entrepreneurs in my area to associate with and become friends with. Power of association is a huge factor in being successful.

 

[MattCour]

In that Ryan Blair doc he said Visalus makes $20 mil per month plus. The answer is clear, start your own MLM and print money! Do not join one.