I recently attended an MLM meeting hosted by a company that buys & sells real estate. For those of you who don’t know, MLM (which stands for multi-level marketing) is where there is a product or service sold and the sales force is compensated not only for their own sales but also for the sales of any salespeople that they recruit. I watched the videos & listened to the sales pitch and started wondering how people get rich off f these “schemes”. The program sounded so good in the video & looked good on paper, but how does it all really work? And if it works so well, how come everyone doesn’t sign up? But more importantly, where do people who weren’t born rich get the startup money to even get involved with an MLM? Everyone had to start from somewhere, right?
I wasn’t born with a silver spoon in my mouth and have worked for pretty much everything I have. Sure, I can afford to drop a few hundred dollars or even a thousand or two on a solid investment but how can I get to the “real” money? You know, the tens of thousands of dollars it usually takes to make a more significant investment. Well, I think I may have it figured out – you can get money from other people who have the money to give.
Think about it, you have people in your very own network that you can use as investors. Didn’t your uncle send you money to help you out when you were in college, or your grandmother slip a couple of dollars in your birthday card when you were younger? Well, as an adult I’m sure these same family members want to see you succeed in any business venture you pursue. Or what about family friends? I am in the process of starting my own business now and while I haven’t been soliciting for any financial assistance from anyone, I’ve had people offer just because they want to help. While I may not be accepting any money right now, I certainly hope to rely on them for emotional support (business referrals too!) and leverage the relationships that I’ve already built with them.
I’m not trying to sell anything or get anyone to sign up for a sales pitch. Yes, it takes money to make money but you don’t have to be rich to get rich