In 2011, I once sat down with him and one of the few highest-ranking leaders of an MLM company (still very strong at the time) in which he was also involved.
He shared that he had previously started Viba Pliers but failed, then moved into multilevel marketing. Many business owners turn to multilevel marketing after their “dreams shatter” because MLM is very good at appealing to “dreams of being your own boss with very little risk” compared with traditional business models, since you do not have to worry about substantial capital, branding, legal matters, premises, and so on. But in fact, the success rate in multilevel marketing is only about 1%. That is comparable to the riskiest business model, Startups (99% fail after 5 years), and riskier than SMEs (70% fail after 5 years). Anyone quick to judge and say I do not understand multilevel marketing should take an opportunity to sit down with me so I can explain the deepest aspects of this model right down to its roots.
On the surface, multilevel marketing leaders share an interesting similarity with politicians: they often appeal to the masses by showing off their ‘happy families’—financial freedom, spouses working together, health, beauty. Who wouldn't want that? It fits the majority's ordinary understanding of ‘happiness,’ and few people in society move beyond ‘moral templates’ that cause human suffering, as Osho did, for example. Yet when an inner value becomes a tool, it can create a kind of ‘light’ whose targets rush toward it like moths to a flame.
The same thing happens in the coin market, except for the people I know who truly have good intentions. Otherwise, the rise of the coin market means that “anyone who joins makes a profit,” even a fool. A rising tide lifts all boats, but the fool thinks his boat has risen because of his own “talent.” That fool then starts believing he is a coin expert and begins livestreaming his insights to raise more capital. Bear in mind that, most recently, when Jack Ma visited Vietnam and was asked for his views on coins, he answered: “Honestly, I don't understand anything about Coin.” Once the tide goes out, we will know who has their pants on and who does not.
Returning to the person mentioned in the article, he is returning to Entrepreneurship. I hope it is not old wine in a new bottle—a startup bottle filled with multilevel-marketing wine—or the use of tricks! Producing real, lasting value is just one of many paths. He is returning to it. I wish him all the best!
