Comments on: What is the lowest cost, lowest risk way to start a business?

By: AJC

AJC — Fri, 25 Apr 2008 04:14:35 +0000

@ Alex – It’s not for everyone … but, there are some [very few] people who have made a lot of money in MLM’s … the guy that I mentioned in this article doesn’t even bother working his ‘downline’ any more, yet he rakes in more than $1 million a year for life:

http://7million7years.com/2008/04/05/why-did-warren-buffet-buy-half-dozen-mlm-companies-last-year/

… well, at least until the company goes broke and/or changes the rules

By: Alex Le

Alex Le — Fri, 25 Apr 2008 03:07:14 +0000

Just recently (about 3 weeks ago) I was approached about Quixstar too. A family which I randomly bumped into while at … Walmart was actually trying to get me into Quickstar. For some reasons, hustling people to buy something (directly, face-to-face that is) is never my thing so I don’t think I’ll go with becoming a seller. I can probably make more money from my consulting business than selling health products to friends (which, unfortunately, the Vietnamese people that I know are very conservative about spending money, especially on luxury products such as the nutritional health stuff Qixstar is selling) I haven’t tried MLM stuff but I think I’ll take a different route to making money on the side

By: AJC

AJC — Thu, 24 Apr 2008 02:55:28 +0000

@ blogrdoc – Quickstar (a.k.a. Qixstar) was started by the former owners of Amway, which was the biggest success in MLM history. The advantages of MLM (as I mentioned in a previous post: http://7million7years.com/2008/04/05/why-did-warren-buffet-buy-half-dozen-mlm-companies-last-year/ ) include the residual income that you ‘may’ be able to get … kind of like ‘selling a business then investing in an annuity’ all-in-one. The disadvantage, is the very low success rate.

By: blogrdoc

blogrdoc — Thu, 24 Apr 2008 00:21:18 +0000

Just today, a coworker was selling me pretty hard on Quickstar. It’s like an online version of Amway. I haven’t entirely ruled it out of the realm of possibilities. My college buddy’s family is loaded and as far as I can tell, it mainly based on their Amway business.

By: AJC

AJC — Wed, 23 Apr 2008 13:29:48 +0000

@ JB – My 13 y.o. son struggles with that every day. He has found reasonable results (+$30 / wk which is GREAT income for a kid!) by searching for online wholesale suppliers and/or drop-shippers in niches and listing those items on e-Bay. Naturally, you can’t compete AND scale with product that everybody else (who bothers looking!) can get their hands on, too.

But, my son’s advantage is that his profit requirements are modest so he can always be the low-cost supplier.

But, your suggestion – “knock on the door and ask if you take their leftovers” – is spot-on! Other people are too lazy … take advantage of this and go knocking! You may even be able to get stuff on consignment and/or have them drop-ship for you …

By: JB

JB — Wed, 23 Apr 2008 12:45:15 +0000

People always say it’s so easy to start an internet business. I would love to sell leftover goods from manufacturers on eBay. How do you go about doing it? Do you knock on the door and ask if you take their leftovers?

Great post!