Is MLM The Answer To Debt Recovery?

Andrew McLellan at Network Marketing Inspiration Blog published a post today entitled, “I’m In Debt. When Do I Start?”

I only read this particular article, so I don’t know a lot of Andrew’s slant on the MLM Industry as a whole, but today’s entry makes sense.

“A few people a month contact me and say they want to get involved in Network Marketing. One challenge they have is that they’re either jobless or in a serious financial bind….”

“…It’s very difficult to start and maintain a Network Marketing business when you’re in a financially unstable position. It adds pressure to what you’re trying to accomplish every single day, and that’ll show when you tackle any aspects of the business – making it more difficult to focus on success.”

He goes on to say,

“My advice to people who are in this situation, whether they want to hear it or not, is to focus on getting a J.O.B, pay off debts, and move towards a financially secure position. While doing this, you should take advantage of the time to research the company and sponsor you’d like to work with. This way, when you DO have the resources to start a Network Marketing business part time, you’ll have educated yourself to some degree and more prepared for what lays ahead.”

If you expect MLM to be the magic cure or similar to a lottery windfall in clearing up your debt, then you are living a fantasy. Businesses rarely succeed overnight and have expenses of their own. Undercapitalization and debt are death knells for major businesses and will affect a small MLM venture as well.

Mr. McLellan’s offers sound advice. On The Road With Dave has covered debt management previously way back in December of 2004.

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Now Appearing in an Extended Engagement! Join Dave Robison as he takes you into his world and his daily life of reviving a stand-up comedy career. Prepare for side trips exploring Public Relations, marketing and business ethics. Enjoy some frequent detours describing his observations on life. Read the exploits of this self-proclaimed Renaissance-man and blooming blogger as you go On The Road With Dave. From Mobile, Alabama comes Dave Robison, a confessed Internet-aholic, middle-aged-married-man, who's generally a nice guy--he just has one or two issues. Stand-Up Comedy by Dave Robison is available for corporate events, college campuses, and nightclubs.
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