Mlm Stories - The Life And Death Of A Network Marketer
Posted on March 3, 2008 - Filed Under Health and Fitness, Home Based Business |
This is a story about my friend Stan. A brutal divorce had left Stan hurting for money. He had a fairly good job as an accountant with a men’s wear company, but he needed more money fast to deal with marital debts and child care expenses.
A mutual friend told him about this great, new work at home opportunity. Stan was slightly skeptical, but he figured that he was going to have to be open to find something that would allow him to get going quickly and the idea of working from home appealed to him, since that would give him more time with his son.
He went to the meeting and it was an MLM opportunity.
Stan was psyched by the prospect of having his own business. The products seemed super, especially since they treated so many diseases, they practically sold themselves, he was told.
Heeding the advice of the leaders, that you have to be a product of the product, Stan bought the Gold starter pack and came in at a level where the commissions were the highest.
Naturally, he signed up for auto ship to qualify for overrides on his team.
Stan was really impressed with the incomes some of the people were making and was optimistic that he would be knocking down some good bucks pretty soon as he was a determined, hard worker and then the residual income would kick in…
Fast forward 5 months. Stan was out of the business, discouraged, deeper in debt and nearly broke.
What happened?
He, like most of the people entering into their MLM business had no idea of how to market. Almost 80% never sponsor anyone, Stan at least had brought in one person, his Uncle Lew.
Once Stan was rebuffed by his friends, family and co workers; his ex-wife actually taunted him when she came to pick up their son one evening he was humiliated. She had heard from mutual acquaintances that he was in one of those Amway things.
When his warm market ran cold, Stan was faced with selling to strangers, not an easy thing for a numbers guy.
After a few excruciatingly awkward attempts to obey the 3 foot rule, talk to anyone about the business who is within 3 feet of you, wherever you are, he was ready to give up.
Fortunately, or so he thought, his upline counseled him to never, never give up, and encouraged him to buy leads. These were people who were actually seeking business opportunities, and were just waiting for his call to start their business.
This was going to be his salvation, he thought. He would now be talking to people who wanted to talk to him. Stan actually bought an expensive, Blue Tooth cordless, hands free phone so that he could pace the floor and use body language to be more persuasive on the phone.
He even switched his phone to an Internet service, like many of the other guys had done and could not wait to download his first batch of Hot and Hungry Exclusive, Leads.
Knowing that you had to spend money to make money, he wanted the highest quality to insure success. He bought 300 of these prime leads for $5 each spending a total of $1,500 that month. He figured he could call 10 per day.
It was rough going, but Stan expected it and, pumped up by the Think Success CD’s he bought from the company, he pressed on.
Being a numbers guy, he faithfully kept track of his results. He could never reach nearly half of the leads; wrong number, not home, answering machine, etc. That was the good news.
When he did reach someone, they were often rude, did not remember receiving the mailing, (Indirect mail, perhaps?) or giving their name, leaving Stan on the spot trying to defend his company, his products and even himself, when on more than one occasion he was told in colorful language not to ever call again.
His second month, he bought even more leads, 500, knowing that he would not be able to reach so many. He bought even higher quality, Local, Fresh leads, for a total of nearly $3,000. This was it. He was desperate and certain that out of 500, he could at least sell 5% and that would return much of his capital.
He also spent $150 for a course that purported to make him into a “phone shark”, or at least that was what the sales letter on the website said. It even came complete with call scripts that answered the dreaded question,” Is this a Pyramid?”
Half way through the month, he attended a big regional convention in Las Vegas, feeling very much like a “real” businessman traveling for business. He even splurged a bit on his room, figuring he had to “fake it to make it” as his upline told him.
Pumped up by the hoopla and big checks being given out on stage, Stan spent nearly $1,800 in total at the convention.
He returned home on fire and actually went door to door giving out sample packs and CD’s he had purchased in large quantity at the convention.
Why didn’t I do that sooner, he asked himself. Once they begin taking the product and seeing the results, his neighbors would beat a path to his door.
No one did.
Stan eventually succeeded in spending himself out of the business 2 months later, bitter, nearly broke, embarrassed, his dreams dead. You would not want to try to talk to Stan about your MLM opportunity.
Fully 95% of MLMers never succeed in making a full time living in the business. Over 80% never sponsor anyone and among those who do sponsor people, they average 2.5 people, not quite enough to generate the elusive passive stream of income.
These shocking but true statistics tell us that MLM as we know it with the 3 foot rule, the hotel meetings, putting flyers under car windshields at the mall and other 1950’s marketing methods is dead, but it doesn’t know it yet. Long live Network marketing!
Copyright 2007 Bill Young. Bill is a Personal Financial and Work at Home Coach. He has used the Internet for over 5 years to develop automated systems for real estate investors. He has recently turned his attention and expertise to showing Home Based Businesses how to market themselves more effectively. You can use the same Internet Marketing system Bill recommends to his private coaching clients to build their home based businesses quickly without buying leads!:
Internet Based Marketing
Bill will also show you to use your home based business as a stepping stone to financial independence in a few short years. He can be reached for free, confidential 30 minute consultations by calling him directly at 631-615-7974
Tags: advertising, Internet marketing, mlm, network marketing, recruiting, work at home
Related Posts
- Is Mlm Or Network Marketing A Scam?
- How To Sell Network Marketing
- Best Mlm Promotion - Why You Should Be Writing Mlm Articles
- Top 10 causes of death in Dubai
- Ann Sieg?s The Renegade Network Marketer - A Review
Comments
Leave a Reply