Business Opportunities - Network Marketing (M.L.M.)
Number of Customer Reviews for Network Marketing (M.L.M.): 3
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Network marketing or commonly referred to as Multi-level marketing (MLM) has been nothing short of a marketing phenomenon. Over 20 years ago back in my 20’s I had my first MLM experience. It was like a religious experience because the meeting was so emotional. For a starry eyed young entrepreneur I thought I had found the promised land, the proverbial pot of gold at the end of the rainbow.
Boy was I mistaken. The only thing similar to religion was I felt like all I was doing was making a donation to my up line and getting nothing in return. I learned over time that very few people make very good money in MLM. The marketing approach is riddled with problems.
Back in the 80’s front loading was a common problem and many people like myself ended up with 1000’s of dollars of products in our garages, because to hit the higher levels of pay you had to buy a lot of product. One of the worst for me was Herbalife. I could have gone on 10 lifetimes of diets I had so much product.
The attorney general’s of states all across the union were all over this problem as well as many others, especially the outrageous claims that are constantly made in so far as money claims and results of using their products. It was like a carnival and a snake oil salesman.
It wasn’t long before I realized that there was a bigger junkyard of dead companies then there were financially solid companies that you could develop an excellent income with. The only ones making a financial killing were those at the top, and or the owners. They appealed to greed and an irrational belief in what you could accomplish representing their products. The worst experience was that the different MLM gurus that had huge down lines would bounce from company to company just raping their down lines. It became nauseating, especially when your best friend would start pitching Amway to you. Well, there went another great friendship.
Ten years later I met up with a Stanford MBA. Jointly we jumped into MLM together and tried it all over again. But to solve the problems that we both had experienced before in MLM we decided to become a marketing company, and similar to Baskin & Robbins 31 flavors, we would represent a number of different companies that passed our test of financial stability and future profitability. We raised over 500k to get it going.
Wow, it went crazy and six months later we had recruited 1000,s of people. But I got burned again. The emotional and greed thing just got in the way of sound business principals and our down line would not work and go sell products or recruit people. They, like so many, lived in la la land and thought that money was just going to come out of nowhere. It was like a flash in the pan. Well, such is life. We moved on.
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The following are some comments of others in regards to Network Marketing:
1) “Multi-level marketing was the biggest growth industry in the 1980's. It is the industry that has made corporate giants of Amway, Shaklee, Mary Kay and Herbalife. The first multi-level companies sprung up in the 1930's, but they were dinosaurs compared to modern marketing strategies. It wasn't until the mid 60's that MLM gained international prominence. In 1985, it was estimated that $5 billion worth of new products were sold by this method.
Because network marketing is not easy, if you don't know what you are doing make sure you have a product that is life changing, and where the people above you are real leaders concerned with more than just getting you in as another body. If you have life changing products you have a better chance of being successful.
Make sure the company has been in business for at least one year, preferably three to five years. You also want to make sure there is great leadership at the top with people who have a good track record and the company has great financials.”
2) “Multi-level marketing (MLM) has finally gained respectability. It is being taught in the Harvard Business School and both Stanford Research and the Wall Street Journal have stated that approximately 60% of all goods and services are being sold through multi-level methods.
MLM is being hailed as the marketing style of the 21st century. This is a multi-billion dollar industry and of the 3,500,000 millionaires in the world, 20% made their fortune in recent years in MLM, otherwise known as network marketing. Moreover, statistics show that over 100 people become millionaire's everyday through multi-level marketing.
As with all multi-level marketing or network marketing businesses, business is built by recruiting new partners and selling products. Because of the global nature of the Internet, new business partners are recruited from all over the world and products are sold all over the world.”
3) “If you are thinking about starting a home business or are already in one, this could be very important information to you. I have spent the last five years of my life and hundreds of dollars lost in home business offers in network marketing. To be quite frank with you, I was so tired of handing over my hard earned money to them only to get one empty promise after another.
Still believe you can earn $100,000 FAST IN MLM? GET REAL! Statistics show that 95% of people who get involved with MLM or network marketing fail. Those are very disturbing statistics. Don't get swept up in all the hype of these network marketing companies that are high on promises and low on results. Also, don't invest your hard earned money you don't have to these companies only to see it wasted on ANOTHER empty opportunity and/or promise of wealth.”
The biggest problem I have with MLM is the fact that there is so much exaggeration, and that so many of these companies are just a flash in the pan. It is hard to trust the words that come out of an excited greedy persons mouth.”
I only recommend MLM when you realize that it is like any other business in that it takes enormous dedication and resources to succeed. If I were to ever go back into utilizing the marketing techniques that MLM affords I would start my own product line, or if I wanted to just be a distributor for extra money I would become a distributor of a long standing company and ignore the hype and build my business on sound business principals.
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