The cons of mlm are that most people getting into mlm don’t understand mlm. They apply the incorrect philosophy and it becomes a recipe for disaster. I see dozens of people monthly that join a mlm, don’t work and don’t yield any results and as a result, leave with a bad taste. But with correct leadership that problem could be averted. That is precisely why I love my company. It has the best leadership (in my opinion) and they properly train their agents.
Your comment and it’s militant nature are the EXACT OPPOSITE of what I believe the doTERRA culture is founded upon. I hope anyone reading this thread choose to look past your article and it’s attack on YoungLiving when basing their decision as to which company they choose to go with. I want them to know that the manner in which you needlessly attacked them is in no way a representation of all the other reps nor the company itself.
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Other than that, great info, but I’d have to respectfully disagree with the logic behind not being a part of an MLM. It’s one business model. And whether you want to make it your full time job or just dabble, so long as you find a product and company you love, it can be a great way to diversify your income streams. $5000 a year (or $5) is more than most people make on their 401K, savings or any other conventional ways of investing. It’s an investment, and for those that chose to continue through the plateau, it results in residual income. Don’t like sales? Some of the companies are moving away from the door to door type sales models and putting a lot more emphasis on team building and adding value. And many companies are also discouraging distributors from spamming on social media- again- it comes down to the individual and their own business acumen. We can spend our lives blaming they systems or we can just own ourselves and be grateful for whatever we’ve learned from, and created out of each opportunity presented to us. It’s the choice of the individual at the end of the day but one thing I can say with certainty is that someone who blames MLM for their lack of success is lacking responsibility for themselves in other areas of their life too.
The structure of MLMs is very similar to a pyramid scheme. This doesn’t mean that all MLMs are pyramid schemes, but some certainly are. Those interested in pursuing a career in multi-level marketing should do research before joining a particular MLM. Generally speaking, if the bulk of the money you stand to earn comes from recruitment rather than direct sales, it’s wise to be very cautious.
Although each MLM company dictates its own specific financial compensation plan for the payout of any earnings to their respective participants, the common feature that is found across all MLMs is that the compensation plans theoretically pay out to participants only from two potential revenue streams. The first is paid out from commissions of sales made by the participants directly to their own retail customers. The second is paid out from commissions based upon the sales made by other distributors below the participant who have recruited those other participants into the MLM; in the organizational hierarchy of MLMs, these participants are referred to as one's down line distributors.
Hiring an expert is the way to go if you want to do this fast and effectively. In the long run, new clients are worth more than what you have to pay to get help finding them. You’ll make far more money on one turned lead than you will spend on getting someone to help you get that lead. If that’s not the case for you, however, then things may need to change a little. You’ll want to go do some looking at reviews for various lead generation companies to see what they can help you with and if they are worth your time to work with.
Amway stresses that the main difference between a legitimate MLM business model and a pyramid scheme is that a legitimate MLM is focused on selling products, not recruiting more salespeople. In a legitimate MLM, it should be possible to make money by simply selling products directly to customers. With that main criterion in mind, here are some other ways to identify product-based pyramid schemes:
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Many self-proclaimed entrepreneurs send me invitations and accolades to join their favorite Multi-Level Marketing (MLM) or Network Marketing company, but these all sound like "get rich quick" schemes to me. For me, the essence of an entrepreneur is creating something new and innovative, whereas an MLM is a traditional formula on an existing product with a high premium on pyramiding.
MLM itself is a legitimate business strategy. However the subject of ethics can be rather vulnerable. The pyramid scheme, unlike MLM, is clearly a scam. In a pyramid structure, a member pays a fee to join. A portion of the money will then be remitted back to them when they bring a new member into the scheme. No products are involved in this scheme, simply get more people to dump in money for your chance to make more money.
If you want to learn about the wonderful (and massive) world of internet marketing from the pros, Digital Altitude is where it’s at. Their products might cost up to $10k+, but you’re getting access to a toolbox of pure gold. Then there’s their commission rate…up to 60%. Just take a second to think about what a 60% commission rate on a $10k+ product looks like. Not bad, huh?
As a last resort, you could try cold calling by phone. This is probably the most depressing and soul destroying activity on the planet. Even if you get past the usual questions such as ‘If you’re selling something – I’m not interested’ and ‘How did you get my number?’ you need a really slick and professional script and the ability to recognize and avoid lonely old ladies who just want to interact with someone, anyone, in fact.
To understand better, let’s employ the word “Network Marketing,” which is the most common used term that points out to the same marketing strategy. As you have heard many times, there are thousands of Network Marketing companies that exist today and all of them are applying the MLM principle which is very effective and powerful in spreading the word out to the marketplace than any paid media advertising.
Multi-level market (MLM) or network marketing is an American institution. Companies like Amway, Tupperware, Herbalife, Avon, Mary Kay and The Pampered Chef support huge networks of distributors and recruits who sell every type of product from dietary supplements to kitchenware to beauty products. Salespeople are called independent business owners (IBO) and generally work from their homes.