A hmmmmmm question on MLM

[rousemark]

"Starting your own independent insurance agency requires start-up capital. The amount you will need can range from as little as $5,000 to $50,000 or more, depending factors such as where you’re located and how you plan to operate your business".

I know many that started agencies and went on to be very successful that had no money on hand when they started... in fact they even had negative net worth... They got their license, contracted with a company and with rate book in hand, started knocking doors. .. The $5-$50K is a scare tactic used by captive companies to keep their agents from leaving to go out on their own.

 

[HoosierLife]

And what are you offering underneath your picture? Interesting that you also offer a "kool- aid":

Final Expense Entourage

Difference is my koolaid has sugar mixed in.

 

[toolbelt]

"A pyramid scheme is a sketchy and unsustainable business model, where a few top-level members recruit newer members, who pay upfront costs up the chain, to those who enrolled them. As newer members in turn recruit underlings of their own, a portion of the subsequent fees they receive is also kicked up the chain. Often called “pyramid scams,” these operations are illegal in some countries".

I never received a dime from anybody who paid the $100 to get recruited. So that whole pyramid thing goes out the window. Oh and if somebody applies for a policy and then change their mind or they don't get approved, nobody gets paid.

Well it appears you have Ponzi schemes confused with Pyramid schemes which is a typical MLM response. Pyramid schemes typically have products and services, though internal consumption is often the acid test they fail.....when investigated. The FTC currently allows all but the worst of the worst MLMs to "self-regulate", with no reporting required whatsoever, unless formally requested during an investigation.

 

[toolbelt]

I never received a dime from anybody who paid the $100 to get recruited. So that whole pyramid thing goes out the window.

Yes or no answers required. Do you receive any commissions (or overrides) when a policy or investment is sold to a new recruit?????? Is your contract level dependent, in any way, on the number of reps/recruits in your downline? Are internal contests held that reward, in part, recruiting performance?

 

[DayTimer]

Difference is my koolaid has sugar mixed in.

I knew you weren't keto no more ... shame! shame shame shame! Now here, drink this ... it's called Keto Aid

They got their license, contracted with a company and with rate book in hand, started knocking doors.

Is that like an iPad?

 

[rousemark]

I knew you weren't keto no more ... shame! shame shame shame! Now here, drink this ... it's called Keto Aid



Is that like an iPad?

Not if you are starting broke.. iPads cost money... rate books are free..

 

[Tahoe Ray]

"Starting your own independent insurance agency requires start-up capital. The amount you will need can range from as little as $5,000 to $50,000 or more, depending factors such as where you’re located and how you plan to operate your business".

That is completely ridiculous and not at all accurate.

 

[toolbelt]

I personally know a lot of them. Do your own research. Yes, they have big teams but they all started as a Training Associate.

Does that include Hubert Humphrey and his 24 top lieutenants that jumped ship from Primerica, many of whom are still your top earners????

 

[toolbelt]

"Starting your own independent insurance agency requires start-up capital. The amount you will need can range from as little as $5,000 to $50,000 or more, depending factors such as where you’re located and how you plan to operate your business".

How does the word "Independent" get referenced by MLM'ers, who are the furthest thing from independence???? 100,000 Advocare distributors were also independent, up until the corporation said bye bye to the MLM business model.

 

[Guest - 73894]

Wow, so many answers.

Toolbelt: Real Estate Brokers receive an override when one of their agents makes a sale, how is that different?

If you read what I posted about WFG as an agency, you would understand why we recruit. You can actually get promoted almost to a Broker position without recruiting, but to get promoted to Broker you have to have somebody to replace you on that team. Yes, the Broker will still get overrides from you regardless, but your contract also goes up as well.

And you asked me about the top income earners. I'm not old like Hubert Humphries, I'm from a newer generation and I know a lot of the people who are making the income that I said.

I'm out and more than done, have a nice Sunday and have a nice life.