ILearningGlobal (iLG), the Personal Development MLM, Announced Today They’re Shutting Their Doors

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 17, 2010 -- iLearningGlobal is an online personal development program that delivered it’s content through high definition videos via a paid membership site. iLG used mlm or network marketing as its distribution model. Recently, the company announced they are shutting the mlm side down due to lack of growth and profit.

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ILearningGlobal (iLG), the Personal Development MLM, Announced Today They’re Shutting Their Doors

iLearningGlobal’s top distributors were Eric Allen and David Wood. David Wood built a very successful business in less than 6 months. The news that iLearningGlobal will no longer operate as a mlm or network marketing company means both Eric Allen and David Wood (along with hundreds of others) are going to lose their checks.

When a situation like this occurs it gives a lot of people a bad taste in their mouth when it comes to network marketing. It’s sad that so many mlm companies have started with good intentions and eventually gone under. According to the stats, 65,000 mlm companies have started in the last twenty-five years and only 100 have ever reached a $100 million in sales. And less than five only made it over $1 billion.

A lot of people really enjoyed iLG’s content. Plus, I personally know of many people who relied on the income that it generated. It’s really too bad that good companies like iLearningGlobal end up not working out. It shows that no matter how good the potential is of a “mlm start-up”, you are still gambling against the odds if you decide to build it as a business.

Does this mean that people should give up on network marketing? Are all mlm companies bad? Should you be afraid to join a network marketing company after hearing all the ones that go out of business?

It’s not that people need to give up on network marketing or multilevel marketing but rather they need to learn how to choose the right network marketing company. In other words, people need to be educated on how to make a wise decision when joining any mlm company. After all, network marketing is a real business and successful businessmen do their due diligence before investing in any business.

It is not worth joining a start up company if you are going to have to re-build in another two or three years. It doesn’t matter how good it sounds, or how much people say, “this one is different, or how hyped up the compensation plan is … it’s time to wake up and treat network marketing with a sound mindset. We need to stop buying into all the hype and make a good business decision based on sound principles.

I know what it is like to be at the very beginning of one of the fastest growing mlm companies in history. Our group did $975,000 in sales in our first month of business. And recently we walked away from our six-figure residual income to join something more solid. Remember, our reputation is at stake and you can only re-build so many times. It is better to choose something good once and then stick with it.

To be honest, I am very familiar with iLearningGlobal. My brother and I built a small iLG business on the side (second stream of income) and we had the top enroller, David Wood, in our downline. We believed in personal development and really looked up to Brian Tracy. Apparently, we had over half the company in our downline.

To hear iLG is closing their doors hits home with us. We had a decent sized check coming in and it is going to really effect us. However, we are extremely relieved that we didn’t make iLearningGlobal our main source of income. We learned from our first company that start-ups are not the way to go.

I’m sure there will be people from all over the world searching the Internet for news about why iLG would shut their doors. We had people from Canada, U.S., Europe, Australia, Germany, UK, Iceland, Mexico, Malaysia, Hungry, South Africa, and many more countries in our downline.

Let’s hope this serves as a lesson to all of us to be more careful when you choose your next deal. Don’t rush into it. Do your due diligence. Look at the track record of the company, make sure it’s been in business for over 5 years, interview your upline, and look to see if it is publically traded.

There are some really amazing opportunities right now in network marketing that are solid and will not leave you stranded. For more information please click on the link in my bio below.

David Wood     done     eric allen     finised     iLearningGlobal     ILG     mlm     network marketing     news     over     quit