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FIB - Scams 101 - Ye Olde Archives
Posted By: Larry Foster <blackstonecap@yahoo.com> In Response To: Re: Not So Fast (Chuck Huckaby)
Tuesday, 11 January 2005, at 7:10 p.m.
I also do not think MLM is inherently flawed. But you are right that there needs to be a product in place that is salable and that recruiting is not the sole function. Actually, I think the FTC made that illegal quite a while ago.
Your car dealership is a good example of how one person sells and the manager gets an override. One thing, though. I agree that a lot of car salepeople come and go. This model is more pronounced in the insurance industry because of the over ride structure as well as the fact that there is residual income.
There is no doubt that there are lousy MLM companies but there are some pretty lousy conventional companies, too. Enron, World Com to name the worst but there are many other examples of extremely poorly run companies that reward their top management excessively even when the company loses money.
I do think that the value in an MLM is recruiting in order to develop a residual income.
Before anyone else jumps on here, I am not involved in any MLM, although in the past I have been involved with several.
Glad someone else here likes Kiyosaki.
> I disagree about MLM being inherently flawed if only because every
> organization is Multi Level and a hierarchy. The front line sales person
> makes the sales commission, the supervisor earns an income from the
> production of the whole sales staff, and the owner of the dealership's
> income is derived from everyone's activities.
> And like any MLM, many front level salespeople come and go.
> But, in execution, individual MLM Companies can have many inherent flaws.
> Notice how a car dealership compares to the typical MLM company... it's an
> established distribution system with predictable results that sells a real
> product to real people.
> The key 100% of the time to the legality and future prosperity of an MLM
> is similar: does it sell a real product to real people and can someone
> make a decent living without recruiting another soul?
> Most of the time, the MLM's you encounter aren't meeting this definition.
> They're selling distributors on a dream but the average person would NOT
> buy the product they sell because it's overpriced, useless, or both.
> By this definition there are very, very few legitimate MLM's.
> I like Robert Kiyosaki too. I really liked the book/audiobook
> "Success Stories" where real folks had applied what he wrote.
> That was exceptionally encouraging. I use the story about the dyslexic
> lady who couldn't spell coffee but ended up having a huge consignment
> chain in a seminar I teach from time to time.
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