Multi-Level Marketing (MLM) has more value than a Masters in Business Administration (MBA). The funny thing is that MBA’s are likely to be offended by that statement. (My apologies in advance to MBA’s. This is to demonstrate a point that will make sense later.)
Masters in Business Administration (MBA)
An MBA likely spent four or more years in University and $60,000 to $100,000 of someone’s hard earned or borrowed money. Many graduate with large student debt and missed the opportunity to make double that income. That means the true cost is likely upwards of $300,000. (Average cost of Tuition in Ontario: $8,474)
Now it’s time to find a job or start a business. I have heard of people graduating with their MBA only to end up in a retail job making $30,000 a year with a debt load equal to two times their annual salary. Let’s see, the cost of a $60,000 loan would be approximately $552/month at 2% for 10 years. That’s if you are lucky enough to get away with 2%.
Should you want to start a business, it will cost you thousands if not hundreds of thousands of dollars to buy a franchise or start a business from the ground up. Let’s see, you have a monthly commitment of $552 a month with no source of income and you want me to lend you money to start a business?
Congratulations! You’re an MBA!
Multi-Level Marketing (MLM)
This is a Life Long Learning Plan! “Tuition” may be as little as a couple of hundred dollars, once. From there, the ongoing costs can usually be controlled by you.
For example, one my wife and I are involved in has a one time cost of $249 and then the only fixed cost is a monthly membership in a #LegalSavingsPlan that ends up saving us far more than the cost of the plan itself. Some people make a few dollars a year while others make hundreds of thousands. Like any business, it’s what you are willing to do that makes the difference.
Between meetings and our membership, our average operating cost is about $150 per month. You can’t realistically work in any sales industry for less than that. When I was in financial services, my monthly cost as a consultant was about $1,000 per month. If you can’t afford $150 a month, you shouldn’t get involved in any business.
What are the benefits?
- Ongoing education.
- Personal development.
- Income limits are self imposed.
- Control over your time.
- Inclusive community.
Most MLM companies provide continuous education in areas like financial planning, sales techniques, time management, personal development and more. They also provide a supportive environment where you can feel safe and try new ideas.
What are the negatives?
- Income limits are self imposed.
- You have control your time.
- Resistance and criticism of friends and family.
- Business building takes time.
The reality is we, ourselves, are the negatives. Success in a MLM opportunity is totally up to you and what you are willing to do. Will you focus on your activity and use your time effectively? Can you make the choice to tune out the naysayers?
MBA or MLM
Only you can decide. What’s the old saying? “Different strokes for different folks”!
Some need the structure that an MBA and employment bring to their life. Others are more entrepreneurial and self directed and will find MLM a better way to go. There is no right or wrong direction, just the right or wrong one for you.
In my opinion, MLM is a path that those who lack huge financial resources can take to achieve their life goals, not necessarily just money. I have seen huge personal growth and transformation in many people over the past few years in our business, including an MBA who came to heed his father’s advice after trying corporate Canada!
What will you choose?
Make it a great day,
P.S. What am I thankful for today? I’m thankful for opportunity. I’m thankful for differences. I’m thankful for life long learning.