I was contacted by a friend who was very excited about a new multi-level marketing scheme. He wanted me to get on board so that we could both get rich quick AND have residual income forever.
And while all of these enterprises seem very legitimate, they all depend on mathematics that just doesn’t add up. It is really very simple. For every dollar earned, someone else has to pay a dollar.
The numerical certainty is that that most net payers are on the bottom levels while the few net gainers are at the highest levels. And there’s no way around the numbers.
And so I told my friend that I’ll pass on the opportunity. I wished him well, and told him that I hope that I am wrong and that he will become very rich with his new endeavor.
I really do. And I’ll make my money the old fashioned way.
I’ll earn it!
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Richard, I do agree. Those pyramid themes are everywhere, and some make a killing, but you really end up working as many hours at that as you do anything else. In the end, it's all hard work...
I agree!
Was that a KW agent? JK JK JK. I'm a little old fashioned also.
Good evening Richard,
I knew I liked you for a reason..you believe in earning every dollar you make not off the backs of others!
Richard.....no one gets rich quickly.....it takes time, thought and a lot of energy to make significant income.....but most importantly it takes dedication to the important tasks that apply to your profession....
If you ever watch Penn & Teller's show Bulls*&% then you have to catch the episode on Multi-Level Marketing Schemes. You'd love it. Then next time a friend wants you to join them in such a business, point them to the episode. It says it all.
Richard, pyramid schemes never work for those not at the top level. If it's not a win-win, then don't do it. Good for you. I love your integrity!
In a bad economy these things spread like wildfire with people spending money they can't afford to spend to get going and making nothing in most instances. People who start them make all the dough.
Richard.....I was told by some guys in dark jackets that I am not allowed to print money anymore! So, I will have to do it your way!
Dagny...
We are seeing more and more of them. Thanks so much.
Misty...
Thanks.
Paige...
As a matter of fact ... it was ...NOT! lol and thanks/
Dorie...
I'm just not going to do it. Thanks.
Barbara...
And ANYONE can do it if they put their mind to it! THX
People are still getting sucked in by these MLM schemes? You would think that Bernie Madoff would have quashed those urges.
Unless of course you buy the right scratch off huh? LOL
I'm in total agreement. I hate those skeems. I've turned down several "business opportunities", and am every day happy that I earn a living doing something I love.
Chris Ann...
I haven't seen it bit I'll look it up. Thanks/
Marney...
And yet so many people join based on hope. THX.
Cameron...
It's a sad reality, but desperate people will try anything! Thanks for the comment.
Michael...
And they don't care one bit THX.
Bill...
I know that they still frown on that. Thanks so much.
Like my rental property Richard it's a get rich slowly plan. I have seen these things come and go over the years and I am sure they will be around forever.
Oh I just hate hate hate when someone approaches me for one of these schemes. Why do people buy into them? I guess it just sounds sooo good. I avoided someone I know and like very much for years because of this type of crap.
Great approach. . .making FAST money is attractive to so many people and I also see my friends and family fall down like dominoes after just a few days in their schemes. . expensive lesson for some of them.
My standard response
I'm sure this may be the opportunity of a lifetime for you . . well, for me is real estate and it needs 100% of my focus to make it work.. . my free time?is for my family. .thanks, but I'll pass. .
Richard, they are in high gear in RI & i've been approached twice in the past 3 months to get on board, they're earning great residuals & money just flows to you...they were both realtors & one has filed for bankruptcy i found out...so much for his past mlm's!
I like to think of a lot of these as get poor quick schemes. Very few really do anything with these types of marketing.
The key is if you make your money primarily by recruiting others rather than selling or providing something of value, it is a ponzi scheme and will collapse. When times are tough, these guys really do come out of the woodwork to take advantage of desperate people. Very sad.
Richard:
The proliferation of MLM schemes is really a sign of the times, isn't it? Some people are becoming so desperate to make more money that they will try anything. When I am approached by someone to join one of these it makes me a bit concerned about that person and their well-being since those things often end badly.
I have tried the MLM thing a couple of times...lost my butt! I am with you - I will earn it! But I will accept donations, contributions and a winning lottery ticket!
Richard, It seems that the old ones some back around and new ones are created every day. I hate to see people, friends, who use their last dollar and have such hope.
Richard, It seems that the old ones some back around and new ones are created every day. I hate to see people, friends, who use their last dollar and have such hope.
Isn't it all about risk/reward? I have friends that are always excited about a huge opportunity, and it seems like all they can see is the reward, but none of the huge amount of risk involved. If they win big, I'm happy for them. If they lose big, I don't pity them.