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FIB - Scams 101 - Ye Olde Archives
Posted By: hdoyle In Response To: Thinking About MLM? Read this first. (William Smith)
Sunday, 27 March 2005, at 6:46 p.m.
Hi William,
I've got to say you are right on regarding people losing money in mlm. But there are also people losing money in all kinds of businesses. I don't know exactly what the statistics are but new business failures are quite common.
I think the reason mlm gets a bad rap is because there have been some unscrupulous companies out there preying on people looking for a better life...promising to make you rich.
The low cost to get into the business is very alluring, I think people are looking for the short cut to East Street and let's face it there is none. Any successful business is going to take effort.
Fact is if it sounds too good to be true...it surely is..let the buyer beware.
I've been involved in couple of network marketing companies because the products usually are so great. I did not have the desire to commit to building the business though so I've just been a happy customer and casual referrer. Never have I felt like I'd been taken advantage of and I know I've never taken advatage of anyone else.
I think network marketing is a fantastic way to start a business inexpensively. You get get marketing materials all ready to plug in and you get to work with a team of people (your upline) that all have a vested interest in your success and some really great unique products...doesn't sound like a losing proposition to me...just be carefull and choose your company carefully...
Just my two cents.
Wishing you the best William,
Heidi
> I noticed that there are posts relating to MLM opportunities (Quixtar) and
> I thought that if you are considering, or are presently involved in MLM,
> you may want to go to a website I have listed here and download the free
> book about one person's involvement with MLM. The book is a little over
> 300 pages. At first, his story sounds like fiction, then you get the sick
> feeling in the pit of your stomach that this guy is the real deal. It is a
> thoroughly depressing read and I highly recommend it. Go to
> http://www.merchantsofdeception.com/ and start reading.
> A long time ago, in a lifetime far, far away, I once prepared thousands of
> tax returns over a twenty year period. I had the opportunity to witness
> first hand the financial end result of MLM activity. Of the vast majority
> of MLM participants, most lost money, some quite a lot, and of the very
> tiny minority who made a profit, that profit usually represented only
> pennies per hour for the time invested.
> This is not to say that MLM is not profitable; just not in the world where
> I lived. What is remarkable is that the big losers in MLM constantly tried
> to recruit me. Go figure.
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