Yesterday I was doing my normal social media routine and I went through my notifications on Facebook and found that I had been tagged in a note. I’m very particular about who’s notes I read. This note happened to be written by one of the smartest people I know. A man named Dr. Tom Edwards and he’s talking about MLM or Network Marketing.

Read Dr. Tom Edward’s “OUR WAKE UP CALL: Be Careful When You Drink The MLM Kool-Aid”

I have my own thoughts about MLM, especially as a person that has failed and succeeded at it. Since the recession, everytime it seems that I’m out and about I get approached by someone to, as Dr. Edwards says it to, ”Take a drink of the Kool-Aid.” I’ve been the guy holding the cup a few times (in my early 20’s) Now don’t get me wrong, I’m not here to bash your dreams of sitting atop the pyramid but is this the best way to live your dreams? In my opinion, no!

As the MLM training company Leader’s Club says “98% of all Network Marketers fail!” And that is true. In any business venture there has to be a level of industry knowledge, and a business plan. In MLM most people have a misguided passion (that is usually driven by money) for the product and the plan is pre-written, all you have to do is have a “WHY!”

Ummm, I pass. I know one very successful network marketer and let me tell you what, his success didn’t come from pitching a product. It came from connecting with the individual. But, most people don’t make it past that first list of contacts because unfortunately people HATE the smell of Network Marketing Cologne! Oooh, smells like a bottle of 1982 Hai Karate on a hot summer’s day. 

The other truth is that the bar of entry is too low. ANYBODY can join a MLM opportunity. That’s the gift and the curse. But here at Ultimate Money Fight it’s ALWAYS about the MONEY and truth be told, it takes a lot of money to invest in MLM. I like the idea of entreprenuership but if it is something that you’re passionate about, love, and it is what you REALLY want to do.

I spent maybe $2,000 in product alone from Network Marketing companies. I’d love to have the $2K back to invest in an IRA or even with more marketing for Ultimate Money Fight. The thought of MLM makes me want to run through walls! AHHHHHHH

I’ll give you my most memorable MLM horror story. It was 2005 and I met this couple that seemed to be really nice. We just happened to both be faily new members of a church. They had the look of success. It was like blood to a shark. I was jaws. They had a beautiful Lexus LS, looked really financially astute and etc. So, I invited them to dinner at Brio Tuscan Restaurant. We had a BEAUTIFUL time, great conversation, and really hit it off.

Then I pull out the presentation. You talk about deflating the evening. I murdered the night. It should have been a crime. I felt slimy afterward. They didn’t jump on my opportunity and I’m pretty fortunate that they still like me! Eventhough the Mrs looked at me really suspiciously for a long time afterwards!

Take caution on this my friends! Without a plan you will spend a ton of money on product and “business” tools that could have went towards your retirement, OR THAT YOU CAN MONEY FIGHT WITH. If you are going to MLM, then make sure you keep it in perspective. AND NO, I’m not interested in your opportunity LOL!