Yesterday I looked at the 9 reasons why MLM may be the right business opportunity for some people.
Today, I have flipped that around to list 9 reasons why MLM way be the WRONG business opportunity for many people -
- Its likely that you will have to start off working very hard for little reward
- Products may be hard to sell if they are priced higher than alternatives available in stores
- Get rich quick claims may lead to disillusionment – MLM is not easy!
- There are many pyramid scams out there, dressed up as MLM
- The structure only works well if everyone makes an effort – lazy downlines will affect your earning potential
- The failure rate is extremely high and is often quoted at over 99%
- Success in MLM requires more dedication and time than many are prepared to invest
- Being your own boss means you need extreme self-motivation in order to succeed
- Friends and family may not be supportive, especially if you try to recruit or sell to them!
Do you think MLM is the right or wrong business for people to join?
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{ 2 comments… read them below or add one }
The 99% or higher failure rate just about sums up mlm for me. Who would invest time or money into a business in which the cards are so heavily stacked against them?
Strangely enough Andy, an awful lot of people do just that. I guess the dream is so enticing that they don’t actually stop to think things through?