Herbalife Takes Another Hit
Herbalife (HLF) can't catch a break lately. News on Thursday afternoon of Illinois coming after the health food multilevel marketing company sent shares lower for a second end of week time in a row.
Like the boy who cried wolf though, this time had a little less punch to it than last week, and certainly less than in March when shares really took a beating. It's amazing how polarizing the issue has become. I'm not a fan of network marketing, but I'm also objective enough to know that just because I don't like it, doesn't mean it's bad. I don't like cold calling neither, but I don't think it should be illegal.
I know some wish cold calling and network marketing would become banned, but to what purpose? Are some sold a bill of goods that doesn't pass the smell test? Sure, but that doesn't mean it's a bad experience unless the person chooses on their own to make it a bad experience. The truth is, and many hate to admit it because it destroys the victim theory in bashing MLMs, that most if not all fail because they didn't put the effort into it. Tough words I know, but true.
Like most sales, it's the amount of effort placed into learning the craft and executing that determines who makes it and who doesn't. For example, I was a licensed insurance salesperson. I could have made really good money and made a career out of it. I didn't because I didn't enjoy making cold calls. Didn't enjoy means I avoided it and without cold calls I wasn't' going to gain a critical mass of customers so that I could survive and prosper.
I could have done it, but I choose not to and I can't blame anyone other than myself. Did the recruiters paint a picture of how much money a successful insurance agent can make? You bet, but he never said it would be easy. The same is true with any type of business, including distributing Herbalife products. If you're starting at zero, it takes time, effort, and perseverance to make something out of nothing.
Calls for Herbalife's end because it's not "easy" to make money are scary because we risk losing the ability for people to better themselves.