Hi Kyle. You should have mentioned that most MLM recruits do not understand how economics and markets work. For an MLM to succeed and remain sustainable, human population, resources, and market share must be infinite. Since they are obviously not, this is why over 99% of people fail no matter how hard they work, and that only members at the top reap all the rewards. The basic pitch of recruiting just 3 – 5 people into the business, and then showing them to do the same is very flawed; the entire human population would be recruited just 14 levels down… That’s a lot of milkshakes and vitamins! Statistically, you have better odds of making money as a “professional” gambler in Vegas!
Exactly the case. MLM fails when typically when the recruitment of others into the larger scheme stops. You see it all the time and the most successful MLM you see around actually have products that customers are buying, not just those being sold into the recruitment process.
The FTC came down hard on Herbalife a few years back which rattled the industry, but changed it in a positive manner. There are now many more provisions in the MLM space that specify that a higher percentage of sales must be through the actual sale to customers outside of the scheme, versus pure recruitment revenue.
To put it briefly, it seems nothing works, or it takes more time, money, dedication and mental attention that I want to expend – but its always put to me as so easy and “done for you”.
I would be happy to entertain all comments, questions, and experiences here within my comment thread
Still, I have spent thousands just this past year, making NOTHING on affiliate marketing, expending quite a bit of time and effort while of course, I could have spent ONE thousand dollars on ONE Bitcoin and made $20 grand doing nothing!
Because of this, now I simply must look into Crypto currency of course, and stop wasting my time on fruitless Affiliate Marketing “businesses”, at LEAST for the time being…
But I wish I COULD make money at Affiliate my a failing business model where I am supposed to be spending hours on Facebook, Youtube and telling them I’m making money, when I’m really not, trying to sell people into doing the same thing…
Affiliate marketing is no different than any form of sales. You, as the affiliate marketer, are working to build an audience (traffic). This is done ideally through your website, which you can build out in any niche.
There are over 550,000,000 products/services that you can promote as an affiliate. If you have not been successful up to this point in affiliate marketing, chances are you are looking in the wrong places for an education. If you have spent thousands, you certainly have wasted your money and if you want to get the elite training in this space, I recommend you check out Wealthy Affiliate.
Affiliates are making billions every year, this is only going to continue to go up as time goes on. If you get caught up in “what is hot” (things like crypto), expect to get burned and expect the fact that you are not going to actually be creating a real business.
Hi Kyle, I really enjoyed the assessment you have of MLM companies. I joined an MLM company once, ironically, It was because of MLM that I discovered Affiliate Marketing. Anyways, I was just getting done with work, and I went to a friends house to hang out. There were three different people I never met before, and what would normally be a normal evening of chilling with my buddy and watching tv, turned into four people trying to sell me this MLM opportunity to join World Ventures.