MLMs- joining the discussion.
Hi, everyone,
Recently, one of my friends posted a question , asking WAers to share their experience with various MLM companies. https://my.wealthyaffiliate.com/chuka/blog/the-bes...
I've posted my opinion, but decided to elaborate a little bit more on the topic thus I'm writing this post. If you're ready to read this long post, read the original question first.
I don't think it makes us more productive or attractive by dismissing some ideas or industries, which have proven to be profitable for many people. In terms of profitability or viability, MLMs are making the same pattern, as any other idea or industry out there. As often as you can get burned with overhyped MLM company and product, the same is true for an online scam, anyone had this experience? And in order to make money online- do you or don't you have to work and be productive and creative?
To me, MLM is not much different in terms of opportunities than WA and affiliate marketing. It's been mentioned below (in the comments to the original question post) that only a few people have real success with MLM. But look at affiliate marketing statistics. 2% affiliates make 50% of the money, 10% make 90% of the money. Guess what? The same is true for MLM. If you didn't make money there, at the same time when others did, then you've haven't done something they did. I myself wasn't too lucky, but I don't blame the idea of MLM. I believe that when applied properly, it's the best way to bring you really substantial residual income in the LONG run.
As for my experience, I was in Herbalife, years ago, and currently, I'm still with Amway.
As for Herbalife, I wasn't really doing anything there, except that using some of their products, which I really liked. But selling the idea of a necessity of taking these products permanently in order to lose weight and keep it off is is tough. People are breaking out gain their weight back and spread the word that Herbalife doesn't work.
As for Amway, they have a much broader list of products and these are products you everyone needs in everyday life, which makes the task of selling the Amway easier.
You DON'T have to buy half a store of products, you DON'T have to attend seminars, the same way you DON'T have to pay for your Premium WA account and you DON'T have to spend time on Jay's webinars and Kyle's training and you DON'T have to spend money on everything associated with your online marketing business. But guess what? All top marketers spend tons of money to keep their business at that very top. The same applies to Amway and other MLMs.
For the conclusion, you have to do your research, BEFORE joining MLM company- products, statistics, customers, demographics, potentials.... Sounds familiar?
Thank you for reading this patiently.
I wish everyone the best success with your online business. Kirill.
Recent Comments
11
Hi Karill, You are spot on with this blog. MLM is just another marketing system that can be good or bad depending on the particular company and their product and system.
I have had some family ties to Amway as my wife's uncle was high up in corporate and my wife worked in their legal dept.
I was a distributor but didn't have a lot of success as I did not put as much as I should have into it. Their own products are very good.
What I look for in a good MLM is a good product or service that is backed by the company and in need by many.
I don't think that distributors should be forced to buy products and it should be affordable to be a distributor.
There should also be plenty of opportunity for those just getting started as well as the established. A long good track record speaks for itself. I have found this with Advocare.
Thanks for a good perspective on MLM.
Marty
Thank you for sharing, Marty!
I believe, that anyone, who failed to achieve success in something WHERE OTHERS DID, should have a courage like you just did- I didn't put enough in.
Amway's products are great, although the price is a little bit on the high side, even for distributors.
Unfortunately, most of MLMs are charging membership fees- that would be great, if they didn't.
I don't think there is a perfect marketing solution out there, but what we can do is to weigh all pros and cons, before stepping in.
Thank you, Marty.
Kirill.
Thanks for your post! My blog is about being successful in Network Marketing and in small business in general. I think what you say is totally true and I totally. Agree. I'm not a millionaire (yet) but that's because I haven't bee working hard enough at it. I will though ;-)
Anyone, who's starting a new business is being thrown in the water- swim or drawn. The one, who understand, how to swim in that particular pond, will survive. MLM, affiliate, traditional- all of them have their own specifics and approaches. If you want to succeed with MLM- learn how to succeed with MLM, not with online store business.
Thank you, Liz. All the best.
Kirill.
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I have been involved in several MLMs also. i currently am still involved with Organo Gold passively. I was not super successful financially but i liked the Cheerleader mode. Kind of like WA. The thing about WA is that there are so many new people that build the income of the owners that you don't want to tell them the truth. You want them to keep hoping.
Unlike most programs like WA where the owners are out in the industry doing things well. The owner of WA is right here. Promoting WA. That is fine with me. We have not been very successful doing things the WA way. Less than $1000 of our monthly revenue comes from Generic traffic. Last week we tried a little tip from a group like WA and in 2 days we have booked $11,000. We still need to get back with 20 of the companies who contacted us yesterday.
Well, my partners are very unhappy so I probably will be leaving WA over the next few months unless I fund it myself. I might just do that. I like Site Rubix that much.
Thank you, Izpowashere! I will miss you if you leave- I love your posts, they are very educating for me. I'm in the very beginning of my online career and try to absorb any knowledge that has value. I'm really appreciating your tips and would be happy to get some more. Kirill.