November 10, 2009

Is MLM for you?

When I interact with clients and potential clients about their financial health, especially Debt Pay down Strategies I get a fair amount of questions regarding Multi-level Marketing. Whether it is “should I pursue a MLM opportunity”, or “should I stop investing my time and energy into it”. Having been a bank manager at a local community bank, I had limited exposure to folks who sold Cell Tech’s Blue Green Algae, as well as Amway. I cannot comment on the products specifically, or the overall structure of these businesses, but I have seen many more people who are NOT successful in the MLM business than are. That being said, I do not believe that there is not a good upside to investigation this opportunity for passive income, but it will take an awful lot of time, energy and effort to lay the foundation for future success.

There are other names for it – network marketing, social marketing, direct distributing. Legally speaking, most of the legitimate companies that use this form of marketing are not pyramid schemes. At least not legally. However, they do strongly resemble pyramids in their structure.

Please find below three resources I suggest to people who ask my opinion. After they read through these sites we have a very different conversation.

MLM Survivor

The Pink Lighthouse

Pyramid Scheme Alert

Granted, these are all on the negative slant, but if you are getting the “I’d like to discuss a business opportunity with you” pitch from a sales person, sometimes that is just what you need to counter. Both sides, fair and balanced, and then make an informed decision.

Have you been asked to join a MLM business? Tell me your experience.

Tom Sirois Great Barrington, MA

No comments:

Post a Comment