I read a Richard Paul Evans book that I picked up for resale--Five Things a Millionaire Taught Me. It wasn't a bad book, so I signed up for his rags-to-riches newsletter. Got my first one yesterday. It seems he's pitching some kind of MLM book club--Bookwise--that will transform the financially bereft into online bookselling powerhouses. Has anybody heard of this?

The thing is, I can't figure out how the heck anyone is expected to make money with this. Their catalog is limited, their special "associate" prices, atrocious, and the MLM-speak has got my head spinning. Apparently we're supposed to sign other people up to sell overpriced books online, and take a matching comission on the zillions of ensuing sales. Is there something I'm missing?

There is legit MLM (good thing) and ponzi schemes (bad thing).

Anyone can start a ponzi scheme using any 'product'.   The product (books in this case) is not the issue, no one cares what the scheme is selling, only that you get alot of people under you buying.

You can start a ponzi scheme selling a dot on a fax paper.   Get everyone you know to sign up under you and then fax this dot to everyone on the list (like the old chain letter).   Keep bringing in fresh blood with fresh money and those on the top make money.   Everyone on the bottom loses theirs.

I haven't read the information about this one, but I would guess it's more ponzi than MLM.

A true MLM can be a great idea.  It's just getting paid a little for each time you refer someone.  Think of every one you told that some movie is a good one, and they went to see it because of you.   If you got a percentage of each of their tickets and got a check mailed back to you each week, wouldn't that be cool?

Think of the times you raved about "that great new restaurant that opened" - if you got a percentage of all the meals eaten there by people who went based on your referral, that would be cool.   It would be so nice to have those checks just come in the mail every week. 

Another variation on the theme is those "stuffing envelopes" scams.   To make it legit they have to have a product, can't just send out chain letters for money, so the product is a flyer advertising the stuffing envelopes scheme itself.   Talk about a closed loop.  

Anyway, you're better off reading all the stuff on these boards and creating your own rags to riches story.   Most of the ones selling "How I Got Rich" type things actually got rich by selling that book to you. 

"transform the financially bereft"  That would be me.

You should be writing! 

I should be doing the dishes.

LL

While this will probably get me kicked off, I can relate the facts to you.

BookWise is more than an online bookstore, yes you can buy the top 85% of the best selling books in any given month, but their is more. Richard Paul Evans and Robert Allen have put together a program that also has an ongoing educational component. Every week there are teleconferences that teach you how to be President of your business and your life, another that teaches you how to improve your wealth. Every month there are tax training conferences and another where best selling authors, publishers, publicist and agents will teach you what it takes to be a Best Selling Author. (the last event culminates in a 2 day writers conference in October)

It costs $39.95 to join and $35 per month of which you get your choice of any book on their list, plus an audio book (this month "The Seven Habits of Highly Effective People) and an e-book).

The list of avaialble publications will grow substantial over a very short period of time. There is a mondy back guarantee that if you belong for 1 year and do not find that it improved your life, you get your money back and you keep the books.

The mlm aspect is actually robust. You can earn money 6 ways and frankly due to the lact of attrition, (less than 1 tenth of 1 percent) you business always seems to grow. They have a 100% commission match of whomever you sign so it is a rather good program.

I believe in hedging my bets..... no reason you can't be an Amazon affiliate as well as a BookWise Associate... For more info

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Amazing - a book MLM.

It does miss the mark of the best MLMs however.   The first thing you want in an great MLM product is something that is repeat order.   Think Amway (soap), herbal supplements (Herbal Life), etc  Stuff that people use up and have to replenish often - usually monthly and with an autoship feature that puts their order in automatically and keeps em hooked in month after month after month.

But books?

Is the idea that you assume they'll be read and thus consumed constantly and the hunger will have to keep being fed month after month?

Unfortunately I have donated a small fortune to MLMs and I now run, never walk, in the opposite direction when I hear anything that mentions levels and commissions and downlines and uplines and how easy it is to make lots of money.

(Interesting too that the only posts these 'defenders' have ever made here is this one on this thread.)