We’ve all received the dreaded text message or DM from a person we haven’t spoken to in years pretending to catch up. They mention the too-good-to-be-true promise of an extra $1,000 working from your phone and the “be your own boss” mentality that comes from a shiny new “business “opportunity…that comes with buying inventory and hosting parties.
MLM’s, network marketing, pyramid schemes, or whatever name you choose are becoming increasingly popular with millennials.
And though there’s nothing more frustrating than the way some MLM’ers approach sales, it’s helpful to understand the appeal and motive behind the decision to work for these companies.
Here are the top reasons millennials are chasing after these MLM opportunities instead of corporate careers.
Work from anywhere mindset
It’s no question that wanderlust consumes culture.
Unless you find a company that offers unlimited vacation time, the Bureau of Labor Statistics claims that 76 percent of private industry workers (who make up 84.7 percent of all workers in the U.S.) only receive 10 paid vacation days annually.
That’s about two weeks to squeeze in travel, so it’s no wonder why the MLM appeal of working from wherever you desire is appealing. Multi-level marketing companies are entirely commission-based, so distributors have the flexibility to set their own schedule.
Unfortunately, many stereotypes peg millennials as being lazy, or without the desire to work. More often than not, the case isn’t necessarily that millennials don’t want to work, they just want to work on their own terms.
Growing up immersed in technological development, many millennials inadvertently have become accustomed to constant stimulation. Likely, this has resulted in a preference for positions and companies offering work-life integration as opposed to work-life balance. Multi-level marketing opportunities integrate life and work in a way that enable partakers to cultivate relationships in the process – sometimes to a fault.
Can’t find jobs
With the job market becoming increasingly competitive, many struggle to find relevant positions within their field of expertise, or find themselves overqualified for given positions. As a result, many recent college graduates pursue such opportunities in place of full-time income.
Full-time jobs aren’t enough
With crippling student debt and a lack of alternatives to pay off loans, finding high-paying jobs in a graduate’s given field is nothing short of challenging.
Most millennials have student debt hovering around $33,000, not including interest, and many are desperate to find a career where earning potential isn’t capped in order to find freedom from debt.
As a result, some look into network marketing opportunities as a side hustle to pay down monthly expenses on top of their current salary.
Stay-at-home parents have typically had the upper hand in this industry because of their engaged network of friends who help host “parties,” but millennials have replaced them because of their knack for social media networking.
Social media has become one of the most popular platforms for those in this industry to build relationships, and because millennials are the social media generation, they’ve adapted.
MLM’s do bring community and connectedness because a distributor’s upline commission depends on the sales of the person below them. This creates a mentor-mentee relationship, in addition to a community of partakers within the same upline. And even though we live in a world more connected than ever, we all have experienced mindless scrolling while feeling utterly alone. It’s possible many millennials find that community within these industries.
Multi-level marketing companies have become a necessity for many millennials to live out their desired work styles and pay down debt with the ideals of owning their own business – just without equity and risk.
However, there are plenty of reasons working for these companies may seem desirable, but the return on investment might not be as good as it seems because of the amount of time spent, pyramid structure, and commission levels. Not to mention, the reputation amongst employers and peers.
Want these same ideals, but in a way that’s scalable, not commission based, and on your own terms?
Try freelancing instead.