“I’ve got a business opportunity to talk to you about.”
I’ve learned to hate that phrase…
Years ago I promised myself that I would always listen to anyone who wanted to discuss a business opportunity, without exception. There had been several times when leaders ignored an opportunity I brought to them, and one time I started a successful business to take advantage of the idea myself. They missed out.
I don’t want to make the same mistake myself some day.
And so I find myself regularly approached by eager 8pm Warriors looking to tell me about their “big opportunity”. Unfortunately, it’s usually Muli-Level Marketing (MLM) or Network Marketing like Amway, Quixstar, or Market America.
I still respectfully listen to the pitch for a while, but I usually end up stopping them with a earnest plea to do something profitable with their passion. After all, they just wasted their gas, money on samples, marketing materials, and time.
Today, when I read Robert Vander Roest’s blog post “Is MLM a Scam?”, I felt compelled to share my thoughts with more than just the poor guy who came to visit. Here they are…
Because I deeply understand and appreciate the motivations for finding a way to make dreams come true, I’m going to offer some respectful, but pointed advice for people looking to be successful through MLM:
Don’t do it.
You can make more money with your time. 99% of people who try MLM’s lose money.
There are people with billions of dollars to invest, and you can watch them to see what sort of business is a wise investment. However, I’ve never seen a successful entrepreneur decide to join an MLM, and they have larger reputations and more resources to make it work.
Why? Because, recruiting recruiters to recruit more recruiters isn’t a real business, and neither is buying product from yourself to make money.
Hear me out.
If any part of your “opportunity” includes buying from yourself while recruiting distributors to recruit distributors, and you don’t work for a recruiting firm or HR department of a wildly successful startup, you need to be skeptical. Think about what it means to recruit just four levels of 18 people recruiting 18 people…etc.
You —> an eager, talented 8pm Warrior
18 —–> your closest friends who believed in you
324 —–> their closest friends who heard you were an 8pm Warrior
104,976 —–> more people than the population of Green Bay, Boulder, or Berkeley
If you are talented and passionate enough to be the patriarch of an organization the size of a mid sized American city (without losing anyone along the way), I’d like to personally introduce you to some very wealthy investors that would make your dreams come true for accomplishing a similar task with a real business model.
Need more facts? Check out Dr. Jon Taylor’s research on the topic
The bottom line is that you can find similar “products” online somewhere for cheaper. Save your money and find a way to use your 8pm Warrior passion to sell something that people want…leaving you with your money, your pride, and most importantly, your relationships.
Don’t just be passionate, be proud of what you do!
Have a proud night,