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8 years ago in #promoted by mikehere (60)
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Mike I like you but I can't upvote this MLM post. Multi-Level Marketing is a system that is statistically worse than playing the roulette wheel at a casino. It is 99% failure rate and is designed that way. I'm unfortunately an MLM expert because I have an online resell business and was purchasing some products that were manufactured by one of these companies from a distributor and reselling them online. I had no agreement with the MLM but they decided to file a lawsuit against me for $1 Million. This is a big part of why I got washed out of my crypto position. I didn't back down to the bullying. It was an epic battle. Me vs 15 blood thirsty rat bastard lawyers. Soon on my blog I will share the experience and what I learned.
Thanks for the comment Brian. Wow, so sorry to hear your story and what happened. Yes I can agree with you on the lawyer part. But I'm sure that there are many that would disagree even that since they needed them and it worked out for them. But bad experiences can happen with any industry and that doesn't mean the whole industry is bad.
The reason there is a high failure rate is because most people don't do them. They are either customers only or they get in and don't even try. Or they talk with a friend and their friend says no or ignores them and so they give up and say it doesn't work. Then some even go as far as saying they were scammed just to justify their not trying.
Of course there are many bad people and bad companies out there that will take your money. I try to stay away from those. Here with SBC for example the highest package is $179 for 6 products. Good products too with good ingredients. So the so called risk is really nothing.
Now my money losing experiences all come from so called normal activity. For example I bought a Ford C-Max for $33,000 and it was always going to the shop for different things and after 3 years I got tired of it and traded it in. The most they would give me was $12,000 since it was rated so bad. So I lost $21,000 in 3 years! What a bad deal but I still bought a new car from another company.
Also people go to college hoping to get a good education for a good paying job and most will end up in major debt and working someplace they never thought they would. To me college is a scam but for some it is required for what they really want to do or try to do. Still they take the chance.
Now I don't see these networking companies as easy money or get rich quick. You have to like the products and it has to be something you can have a testimony with to be successful.
We have a fantastic group with SBC and many people are advancing in rank because of the system they designed because every distributor earns a commission. For me and many others this one is a winner.
Mike I know your intentions are good and I have to disagree with you on several points. The whole failure rate thing is something the company and top distributors who are often times fabrications of the company will say that stuff and tell everyone not to quit. In reality it often becomes people selling the dream and not an actual product. The product in these companies is ancillary. It just has to be a consumable product. Typically skincare or supplements. They pay a group of doctors to put their picture in the marketing and call them a "scientific and medical advisory board" and act like their product is superior when it is just average at best. All MLM companies are cookie cutter and unfortunately in everyone I have seen relies on false income claims. Herbalife has been injuncted several times to quit producing marketing with false income claims. They continue to do it. Now they have settled with the FTC for $200,000 so that the FTC wouldn't label them a Pyramid Scheme but if they actually follow what the FTC says to do in the settlement their US based business is pretty much finished. I fully expect them to completely ignore the FTC just like they have ignored every other ruling and continue their path of financial devastation.
No matter if an MLM uses a binary structure, a matrix, or a unilevel structure they are all the same. Purposely high failure rates, selling mainly the dream, and a cult like mentality.
I would agree that college can be a scam if the institution is promising that they are going to help with job placement and they don't. It becomes fraudulent misrepresentation.
I'm not against the premise that someone could sign up under another person and the person above would earn a commission from it. I'm against these companies deceptive practices and their whole marketing pitch is based around selling a fictitious dream. The top distributors are almost always fictitious fabrications with manufactured downlines placed under them or certain people strategically are kicked out of the downline so that the person they are trying to promote gains more legs. It is extremely unethical.
Just a few days ago I got a message on eBay from another shit bird MLM. I bought up $4,000 worth of skin care products from a distributor trying to offload them. The law firm is pretending that they have a claim against me for selling my own property. It is a complete joke and these MLMs need to just be incapacitated to where they can't do business here in the form they are currently operating under and their ability to file lawsuits should be completely taken away.