I'm kinda curious this morning.

I want to know your mind.

Why do people hate this industry so much?

Some reasons are:

Fear.

Lack of sales skills.

Comfort zone syndrome.

I've met with a few of them but I'm yet impressed to have decided in its favour.

I'll be breaking that jinx this year. I dare to fail in it.

dearpreye:
Some reasons are:

Fear.

Lack of sales skills.

Comfort zone syndrome.

I've met with a few of them but I'm yet impressed to have decided in its favour.

I'll be breaking that jinx this year. I dare to fail in it.

I love that quote!

1. MLM is a business: Nigerians are more salary motivated and are often unable to understand that building a business takes time. The comfort of earning basic monthly salary often over shadows the stress required to build a business from start-up to profitability.

2. It is NOT a get rich quick scheme: No thanks to internet marketers who say make $1000 daily. Even though this is possible, many people expect to start making that amount in their first month. The truth is people who make such amounts have been in the game for more than 2 years, at least. This misconception often gives new marketers unrealistic expectations and when they don't meet with their targets they get discouraged

3. Outrageous start up fees: Some network companies, especially in Nigeria, require you to start with 50k and above. Where the money? I still prefer foreign programs because most times it is free to sign up and get your own affiliate link whereas in Nigeria some companies will charge you to create an affiliate link

4 Ridiculous compensation plans: For instance, when you get so-so points you are able to buy products at a lesser price. So, someone who has been in the business for over 2 years can buy the product for N10,000 and resell for N12,000 whereas a new member has to start buying at N15,000. The new member is already at a disadvantage. Like I said, ridiculous.

5. Expensive products: Lots of mlm companies in Nigeria sell at outrageously high prices. They seem to forget that Nigeria is a third world country and expect everyone to spend money like our corrupt politicians. For those who don't know, when people refer to Nigerians as rich they are actually referring to money spent by corrupt politicians, fraudsters and drug barons. The minimum wage is N18,000 per month for crying out loud

Op, that's all I think about for now

hahn:


I love that quote!

Thanks, my brother. I think the fear of failure is really doing us much damage. I'll be starting one later this month. If not for anything, lemme get the experience.

dearpreye:


Thanks, my brother. I think the fear of failure is really doing us much damage. I'll be starting one later this month. If not for anything, lemme get the experience.

I just edited that post. Check it out again

hahn:


I just edited that post. Check it out again

I'll do that.

Because MLM is almost a ponzi scheme where new money is used to service old money,

suyamasta:
Because MLM is almost a ponzi scheme where new money is used to service old money,

Aha!

This one sounds interesting. This are the people I was looking for.

"Almost a ponzi scheme"........can I ask you a question?

What is a Ponzi scheme?

Ganoderma:


Aha!

This one sounds interesting. This are the people I was looking for.

"Almost a ponzi scheme"........can I ask you a question?

What is a Ponzi scheme?

check my previous response it clearly defines a ponzi scheme wia u use new money to service old money

I suppose perception is key.
If you invest in buying rolls royce cars without going out to market your products, who do you blame?
If you invest in gala but are too ashamed to market your products, who do you blame?
Do your due diligence on the company, it's products and your own abilities to know if any business is for you.
Stop using others as your excuse for your own short-comings.

suyamasta:
check my previous response it clearly defines a ponzi scheme wia u use new money to service old money

New money to service old money

Help me out here. What does that mean?

Pls try this network. Etisalat /dfci
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The problem with MLM is the people

in it especially Nigeria
once some people get to some levels
in the network they begin to take advantage of
others
eventually the top flourishes while
those tricked by the affluence of those
at the top suffer greatly.


The MLM system was designed to spread
wealth but Greed, greed, greed will keep
hunting man

hahn:


I love that quote!

1. MLM is a business: Nigerians are more salary motivated and are often unable to understand that building a business takes time. The comfort of earning basic monthly salary often over shadows the stress required to build a business from start-up to profitability.

2. It is NOT a get rich quick scheme: No thanks to internet marketers who say make $1000 daily. Even though this is possible, many people expect to start making that amount in their first month. The truth is people who make such amounts have been in the game for more than 2 years, at least. This misconception often gives new marketers unrealistic expectations and when they don't meet with their targets they get discouraged

3. Outrageous start up fees: Some network companies, especially in Nigeria, require you to start with 50k and above. Where the money? I still prefer foreign programs because most times it is free to sign up and get your own affiliate link whereas in Nigeria some companies will charge you to create an affiliate link

4 Ridiculous compensation plans: For instance, when you get so-so points you are able to buy products at a lesser price. So, someone who has been in the business for over 2 years can buy the product for N10,000 and resell for N12,000 whereas a new member has to start buying at N15,000. The new member is already at a disadvantage. Like I said, ridiculous.

5. Expensive products: Lots of mlm companies in Nigeria sell at outrageously high prices. They seem to forget that Nigeria is a third world country and expect everyone to spend money like our corrupt politicians. For those who don't know, when people refer to Nigerians as rich they are actually referring to money spent by corrupt politicians, fraudsters and drug barons. The minimum wage is N18,000 per month for crying out loud

Op, that's all I think about for now

I've read the above over 5 times and I saw myself all the while. Your points are very valid.

hahn:


I love that quote!

1. MLM is a business: Nigerians are more salary motivated and are often unable to understand that building a business takes time. The comfort of earning basic monthly salary often over shadows the stress required to build a business from start-up to profitability.

2. It is NOT a get rich quick scheme: No thanks to internet marketers who say make $1000 daily. Even though this is possible, many people expect to start making that amount in their first month. The truth is people who make such amounts have been in the game for more than 2 years, at least. This misconception often gives new marketers unrealistic expectations and when they don't meet with their targets they get discouraged

3. Outrageous start up fees: Some network companies, especially in Nigeria, require you to start with 50k and above. Where the money? I still prefer foreign programs because most times it is free to sign up and get your own affiliate link whereas in Nigeria some companies will charge you to create an affiliate link

4 Ridiculous compensation plans: For instance, when you get so-so points you are able to buy products at a lesser price. So, someone who has been in the business for over 2 years can buy the product for N10,000 and resell for N12,000 whereas a new member has to start buying at N15,000. The new member is already at a disadvantage. Like I said, ridiculous.

5. Expensive products: Lots of mlm companies in Nigeria sell at outrageously high prices. They seem to forget that Nigeria is a third world country and expect everyone to spend money like our corrupt politicians. For those who don't know, when people refer to Nigerians as rich they are actually referring to money spent by corrupt politicians, fraudsters and drug barons. The minimum wage is N18,000 per month for crying out loud

Op, that's all I think about for now

Fraudsters, Corrupt politicians, Drug barons...........so to you these are the only guys that have money in Nigeria?

Well, we didn't forget that Nigerian is a third world country. We also realize that the minimum wage is N18,000.

But those two facts doesn't stop the average Nigerian from throwing lavish parties. It doesn't stop the average Nigerian from lavish spendings at bars and nightclubs. It doesn't stop the average lady from spending on vanity -hair extensions, bags, shoes, dresses, makeups etc

That our products appear to be expensive shouldn't stop you from joining a good MLM company. The products may seem expensive, but I still sell the products regardless. All I simply need to do is identify those with a problem that my product solves and that is all. It doesn't matter what the price of the product is. So long as I am selling to the right people, price is not even an issue.

Remember when MTN first started. Remember how much it cost to get a phone and a line back then. The phone back then will not even compete with the average kpalasa phone today. But look at how ridiculous the price was. But people still bought it nonetheless. Even people you thought couldn't afford to buy. I remember jumping molue back in those days and you would hear a ringing phone inside molue. Imagine. And you are here saying that product is to expensive.

Its just a defeatist mentality that you cannot sell a product because it is expensive and that the minimum wage is N18,000. Fortunately, there are more people in Nigeria who make far more that N18,000 so that really is not my problem.

Ganoderma:



Fraudsters, Corrupt politicians, Drug barons...........so to you these are the only guys that have money in Nigeria?

Well, we didn't forget that Nigerian is a third world country. We also realize that the minimum wage is N18,000.

But those two facts doesn't stop the average Nigerian from throwing lavish parties. It doesn't stop the average Nigerian from lavish spendings at bars and nightclubs. It doesn't stop the average lady from spending on vanity -hair extensions, bags, shoes, dresses, makeups etc

That our products appear to be expensive shouldn't stop you from joining a good MLM company. The products may seem expensive, but I still sell the products regardless. All I simply need to do is identify those with a problem that my product solves and that is all. It doesn't matter what the price of the product is. So long as I am selling to the right people, price is not even an issue.

Remember when MTN first started. Remember how much it cost to get a phone and a line back then. The phone back then will not even compete with the average kpalasa phone today. But look at how ridiculous the price was. But people still bought it nonetheless. Even people you thought couldn't afford to buy. I remember jumping molue back in those days and you would hear a ringing phone inside molue. Imagine. And you are here saying that product is to expensive.

Its just a defeatist mentality that you cannot sell a product because it is expensive and that the minimum wage is N18,000. Fortunately, there are more people in Nigeria who make far more that N18,000 so that really is not my problem.

Lovely points. I totally agree. The topic of the thread is why most Nigerians HATE mlm and I only addressed the topic. Nothing personal.

The issues you raised are very much on point and the "deafeatist" mentality you highlighted is a serious problem which has affected not only the mlm industry but businesses in general and it's also a big hindrance for Nigerians. We would achieve more as a nation if we chose to tackle problems squarely instead of making up excuses. I think you should create a thread and share your experiences in mlm so people can learn. Don't forget to mention me

It is not complex. There are 3 sets of people when it comes to MLM in Nigeria.

1. FRAUDSTERS: They are out to scam people of their money.

2. FAILED PARTICIPANTS: Those that entered the business and failed.

3. SUCCESSFUL PEOPLE: Those that joined a genuine company learnt the business and then excelled at iit. You can indeed make a great income from MLM but you must do the required work.

I joined a company late last year and it has been a positive experience so far.

hahn:


Lovely points. I totally agree. The topic of the thread is why most Nigerians HATE mlm and I only addressed the topic. Nothing personal.

The issues you raised are very much on point and the "deafeatist" mentality you highlighted is a serious problem which has affected not only the mlm industry but businesses in general and it's also a big hindrance for Nigerians. We would achieve more as a nation if we chose to tackle problems squarely instead of making up excuses. I think you should create a thread and share your experiences in mlm so people can learn. Don't forget to mention me

one thing that I've noticed about multi level marketing is that, it allows people to take advantage of other people in order to build their wealth.

which is ironically a Good thing. I've found that every business or company in the world takes advantage of other people in order to create wealth. MLMs however, offer the advantage of a potential to create own wealth.

one thing I advice people to look out for is, make sure the company is NOT pyramid scheme which will exploit you. the money you are paid should not come from payments, but from purchases of certified products which you can sell anyway without having to bring people into the business for an immediate profit.