MLM and network marketing

lovewealthhappiness

Hi everyone,

I'm not sure how well this post will go down, but I'm really interested to hear from people who have succeeded with an MLM/Network Marketing business.

I know there are strict rules about divulging how much money you make, I'd just be really interested to know if anyone actually has an income from one of these companies (I don't need to know which company - I think we all know the main ones) that would allow them to retire early/have the lifestyle that the companies say you can achieve (if you put in the effort).

I'd like to understand more about how realistic it is to earn a residual income from these companies that equates to full time work wages.

Have any of you achieved the dream? How long did it take? And what did you sacrifice to achieve it?

Thanks so much.

x :j

NigeWick

I know a few people who did well. They put a lot of effort in for about five years before they saw enough success to retire. They all still "work" at their MLM because they enjoy it but they take a LOT of holidays.

I "failed" because I did not put the hours in on a consistent basis and then lost interest. Most people start with a company and treat it as a hobby. That is why they fail, it has to be treated like any other job. Doing those two hours or so every day is the only way to keep momentum going until it's almost like a perpetual motion machine.

MLM is simple but not easy.

grapefruit

I totally agree with the previous poster.

I joined a network marketing company a few years ago
but didn't succeed. However, one of my closest friends is
still involved and earning a substantial income but it has
taken a lot of dedication and hard work.

I still use the products associated with the company, I get a
discount because I'm still a distributor even though I'm not
actively building a business.

I also now have a part-time job working in one of the company
centres which I thoroughly enjoy.

It's key to find the right company with products that you love
and would have no problem recommending to people.

Maz

I'm with a NM company and have been for around five years. I enjoy the financial leeway it's given me but have to say that I'm quite lazy with it and could do a lot better if I put the effort in. For my first couple of years, I practically ignored it so, it's taken about three years of very part time work for me to be where I am at the moment.

Haven't actually done anything at all with it for the last three months, still got paid every month tho'.

Am I successful with it? Depends on your definition of success I suppose but it pays my big bills every month and means I don't have to work full time. Which is just as well 'cos there aren't any full time jobs around where I live!

My area is quite rural and the only jobs available are minimum wage and part time so, in a way, my NM stuff has been a godsend really. I'd be in the cack if I didn't have that income every month as the employment opportunities simply aren't there. Or would have to have two part time jobs which would eat up all my time and energy! :eek:

To be honest, I value my time more than huge amounts of money and I am able to spend time in my garden, read a book all day if I want to, go to the seaside on a whim etc...

Appreciate it doesn't suit everyone but I do know quite a few people who are making substantial residual income from it.

Looneylee

I've been working for an NM company for 7 years now and love the flexibility. It fits really well around my children who are 7 and 3 and I love the products that I sell. A passion for the product is an absolute must to be successful! I decided when I had my first child that I wouldn't be going back to my office "9 to 5" job, so had to throw myself into my new business.

I have been successful and now earn a decent income. It took a while for this to build up. I've also won several travel incentives to some lovely places, and in luxury, which I'd never be able to afford myself.

I have worked hard to get where I am now, and have to always be working hard at it, as you can't sit back and let the world go by. And I still have a long way to go...

The key to success is building your own team, as you can only do so much sales yourself. I guess this is the same with all the relevant companies.

alhermette

The biggest probmel with MLM is the drop out rate. The company's marketing will always demonstrate how much money you can make with your 'downline' but they always work on the basis that everyone in your downline will be working hard. The hard truth is that it really isn't for everybody and it is a constant struggle to keep on replacing people in your downline that drop out or become inactive. Quite simply if people do not see results fast they move on to something else (shiny new object syndrome).

A friend of mine was working away at an MLM business and from what I could tell 95% of his sales were product that he ended up purchasing for himself just because he had to maintain a minimum amount each month. i would be very careful before getting into one of these schemes - they don't have a bad reputation for nothing.

cybermum

I am quite new to NM compared to posters above.Great thread too..will follow this.
I echo the above ..I joined my company on its launch day and got going quickly.
I had no warm market to go to and so went straight into building up a customer base steadily..not always been easy and no way is it instant easy street.
If anything I think it requires dedication and consistency to build something with longevity and that residual income.
I now have a team of 80 and growing..hit leadership level but so much more I want to achieve .
I devote at least three hours per day helping my team,learning the business and finding and adding ongoing customers.

And most of all I truly truly enjoy and love what I do....that is vital also:)

lovewealthhappiness

Thanks for all your replies,

It's interesting, I am personally yet to come across anyone who has made *significant* money from one of these companies even though they say you can have the life of your dreams with them, but lots who spend an awful lot of time on them.

I know a large majority of people who sign up are doing it as a second job, they already have full time work and do this on the side which means that to put in the hours required would leave them with very little time for themselves or their loved ones, it's that whole live to work or work to live question, and I know that the result of these is to live without having to work at all, but is it worth the sacrifice of time and, in some cases, relationships, earlier to have more later? I hope that makes sense....

Cybermum, would you say that with your team of 80 you earn enough to live on from that income alone? Do you have other full time work as well? Also, as a side note I think it's really great that you are loving what you do, too many of us really dont.

Thanks again for all the replies, it's really interesting to hear peoples views.

billsavings

So are you in network marketing yourself lovewealthhappiness ?

russxiii

just wiki'd MLM. one of the references is:

In an October 15, 2010 article, it was stated that documents of a MLM called Fortune reveal that 30 percent of its representatives make no money and that 54 percent of the remaining 70 percent only make $93 a month. The article also states Fortune is under investigation by the Attorneys General of Texas, Kentucky, North Dakota, and North Carolina with Missouri, South Carolina, Illinois, and Florida following up complaints against the company

and another

Roland Whitsell, a former business professor who spent 40 years researching and teaching the pitfalls of multilevel marketing": "You'd be hard-pressed to find anyone making over $1.50 an hour, (t)he primary product is opportunity. The strongest, most powerful motivational force today is false hope

this is wiki'd and not my opinion as i dont have one on this matter.

lovewealthhappiness

No, I'm not in network marketing myself.