GET RID OF YOUR-SIDE HUSTLE - MULTI LEVEL MARKETING
Jim Ziegler, CSP, HSG, OG
President @ ZIEGLER SUPERSYSTEMS, INC. | Retail Automotive
GET REAL - GET RID OF YOUR-SIDE HUSTLE
Every Day I get offers from startup entrepreneurs wanting me to get in their downline selling all sorts of incredible, revolutionary, cutting-edge health elixers, vitamins, sex-drive enhancers, coffee, weight-loss magic potions, water purifiers, soap products, hair regrowing elixers, and secret formulas designed to mke my man-parts grow larger (who's my wife been talking to?
"It's Multi-Level Marketing" designed to make multi-millionaires out of you and me. Let me draw you some circles and show you where you are in the plan? We just attended a conference in Orlando, and they had five couples and single people there who are Zillionaires selling this program; people just like us. Let me subscribe you to our online presentation?"
Sounds Good? Sounds familiar? Let the Old #AlphaDawg slap a little water in your Face here for a moment or two. Is the person trying to get you to signup driving a beat up old car wearing a "Mullet Haircut" wearing flip-flops and mustard-stained shorts, driving a 2008 Jeep Patriot, and living in a rooming house? They might not be that distressed, but you get the picture here... "Never take advice advice on how to be a millionaire from a person who has no money."
First of All: Your "Side Hustle" never works out. You'd make more money and be happier concentrating on your Day Job and getting ahead the good old fashioned way by climbing up the ladder instead of going for the "Fast-Track" impossible dream. The Car-Business has created more millionaires than all of those MLM Companies combined.
Secondly: The headline from AARP Research (extensive 100,000 sample) concluded "New Survey Reveals 73 Percent of People who Participate in Network Marketing Opportunities Lose Money or Make No Money" AND, your downline is continually dropping out faster than you can recruit new ones. Many people sign up just to get rid of you.
Okay Ziegler, that still means that 25% of them made a profit, That's me! I am going to be one of those winners right? NOPE, the resarch went on to say that... "Only One-quarter (25 percent) made a profit. "Of those that made money, more than half (53 percent) made less than $5,000." ... "
"Two-thirds of participants said knowing what they know now, they would not join the same MLM company again and 62 percent said they would not join another one."
Thirdly: Chances are overwhelming that MLM you're so smitten with won't be here in five years. Even the big ones run their life cycle and fold. ASK how many other other MLMs the principals have started up? What happened to those other companies? Other than the "Fat Cats" at the top, who else is really making money? People that you know? Is there a possiblity that some people might be Lying about the money they made? OR, are some of those big checks they showed you 'Bogus Fake Checks'?
Facts is Facts: And they hook you in by telling YOU that YOU are going to be the "Superstar" even though percentages say NO. Most of them never last little more than a year and flame out, and the Fat Cats that started it are off to the Next Startup MLM after they (and usually they alone) made any money at all.
When they tell you You're getting in on the ground floor, you're gonna be so stinky-rich; "It's a great opportunity to get involved with them at the "ground floor". The ones that make it do give great rewards to the adventurous distributors that take them up on their offer. Unfortunately over 85% never get to fourth phase of stability. Less than five years and then POOF! It's over.
The ones that make it to this point (more than five years) becomes the Amways, Mary Kays, the Avons, the Tupper Wares; the gold-standard of that industry, reaching billions and some trading on the stock market. BUT, remember, none of those icons started up recently. AND, I feel the opportunity to achieve immense wealth in those companies has peaked and passed.
The reason so many fail is... their products are ridiculously expensive because they have to payout the downlines. The profits come from signing up recruits and NOT from selling the products. Most recruits are required to buy a ton of product, there's your sales. Once they've pissed off all of their family and formerly close friends (since it appears you've joined a cult), the well runs dry for most people and you are having getting people to take your call, and co-workers seem to disband in a group fater than a 'Roadrunner Cartoon' when you approach. You might be more socially acceptable if you wear a sign that says "Contagious Leper".
The old saying is that... "Even in Amway Someone Has to Stop and Sell Some Soap."
YOU WANNA GET RICH? My advice is get better educated and move up in your Day Job with total concentration on growing and learning and performing. Most entrepreurs are not emotionally or stability focused to do it when they try to step out early. The Car-Business is where your real opportunity lies, if you're up to. Truth is YOU are just trying to fast track with earning it. Pay Your Dues First Meathead.
Small Business Accounting & Tax
5 年If some people hustled as hard in a profitable small business as they did in MLM, they'd make a lot of money.
Business Development Manager at Datasys. ALWAYS trying to do right for my clients!!! :Let's make money TOGETHER!!
5 年Maybe you didn't find people looking for the side hustle for the right reasons.? Meaning a single parent with 3-4 kids that needs to work 2-3 jobs to make ends meet.? It's about HUNGER!!!
Automotive Direct Marketing CEO | Driving Growth, Building Strong Teams | Making AI Data Intelligent
5 年?I had hired 30 of the "side hustlers" with my former employer and 100% of them failed because they did not share the same passion and dedication as I did. I have always believed that if you are looking for something on the side, you are no longer passionate about the job you already have. The most common reason for failure is "Broken Focus".
President Campus Automotive President Campus Ford President Newport Auto Plus LLC
5 年Lol. Look at whats going on at Advocare right now! The Pyramid if full...
Director of Business Development - Southeast - Entrepreneur - Hustler - Digital Sniper
5 年Great read. AdvoCare had great success and now they are getting lit up by the FTC for fraud. Their MLM model was totally disbanded.