Dave Ramsey: “Are you sure this is your dream? Are you sure that this is the best entrepreneurial way for you?”
Eric Worre: “Dave Ramsey is Wrong”
There’s a major business beef that’s going viral between GoPro’s Eric Worre and radio host Dave Ramsey. They share their thoughts on this one key industry that’s deemed controversial to most 99ers, and a financial God send to many entrepreneurs around the world.
Check it out below and observe both sides of the argument to make your own conclusions. Then I’ll share my spotlight on it and hopefully help you make an inform decision if this industry resonate with you or not.
Video courtesy of DaveRamseyShow via YouTube
This week Eric Worre takes on Dave Ramsey… Recently during Dave’s radio show he had a woman call in regarding her opportunity in network marketing. Mr Ramsey’s response to this young lady’s questions were filled with misinformation about the profession and Eric Worre is here to set him straight on the truth about Network Marketing …
In the radio show, Dave asks this young lady, “Are you sure this is your dream? Are you sure that this is the best entrepreneurial way for you? You know, these network marketers, they make it sound so easy, but it’s hard. It’s hard work… And do you realize that for the rest of your life you’re just going to be recruiting? And is that really what you want to do? Do you want your friends looking at you funny because these network marketers drive everybody crazy? And what about getting stuck with product?” Dave went on to pour cold water all over the hopes and dreams of this young woman, and pigeon holed the Network Marketing profession into his very limited understanding of what it is all about.
This lit a fire under Eric, and he had this to say in rebuttal to Dave Ramsey, and also to the young woman (or any person) looking for an entrepreneur based business or looking for opportunity …
As far as entrepreneurial options, network marketing is the most financially responsible of all choices. The average person in the United States that wants to start a traditional business, spends $65,000 into a business that they know nothing about most of the time, and 90% of those fail over the course of five years. But in network marketing your investment startup is typically $1,000 or less. Also most companies have a 90% buy back policy, so the investment risk on $1000 is now down to $100. Network marketing is the most risk-free when it comes to just the dollars.
Another firing point was Dave told her that “all you’re gonna be doing is recruiting.” Eric offers this advice on how to actually explain it: “All you do is you expand your network and you expand the productivity of that network.” Which, as Eric points out, is exactly the same business model that Dave has followed… he expanded his radio network, he expanded his financial advisor network, and all of those advisors in every state, all over the world are providing advice for Dave within his network, and then giving him a little piece of the pie. The wealthy people in this world build networks, look for networks, and then increases the productivity of those networks. Network marketing is no different. It’s the same.
Eric also continues to provide rebuttal to the “it’s hard” comment, and the “bothering your friends” mentality that Dave and some people might have about the profession. There is a lot of misinformation about the network marketing profession floating around, and Eric sets the record straight on what is real and what to expect.
In conclusion, Eric has this to say — network marketing is not perfect, but it is better if you have an entrepreneurial bone in your body, it’s better. And to Dave Ramsey if he is listening, “You come into my world and talk about network marketing like you know it – I’ve got to call you on it. Sorry, man. And I respect your work, but in this case, you’re off base.” And for the young lady on the radio show, or anyone who is in the profession: “I hope someday we meet and you tell me your story about how you crushed it inside of this network marketing business and you took all the doubters, including Mr. Dave Ramsey, and you proved them wrong.”
Video courtesy of DaveRamseyShow via YouTube
Hear what iconic entrepreneur and billionaire Sir Richard Branson has to say about the potential and future of network marketing …
I want to give an appreciation to both Eric Worre and Dave Ramsey on their thoughts, opinions and advice regarding the network marketing industry.
I’ll first pinpoint my agreements with both Eric Worre and Dave Ramsey on this : financial responsibility is key to get, AND keep your balance sheet and spending in order across the board. Your finances is numbers that don’t lie to you, and give you a helicopter view on what you believe in, who you are, and what you put your focus (or distraction) on based on where you direct your money to (your purchases). Credit card and financial companies track your spending all the time, thus know more about you than you know yourself anyway, so mind as well do a better job than they are checking your own financial interaction. Taking responsibility will help you cut through a lot of financial bullshit, and see right through others.
Now I’ll point out my disagreements with both Eric Worre and Dave Ramsey: business from a traditional or network marketing is hard work as we’ve been told it is. Despite popular rhetoric and beliefs, hard work is the spiritual and mental part where your intuition comes to play. I understand both of these men are somewhat financial advisors for their respective professions and audience, but I want to reinforce the “hard work” part and differentiate it from the mainstream definition that has caused so many business owners to fail most of the time. We’re going to touch on that in a minute.
WHAT I DISAGREE WITH REGARDING DAVE:
His observation in network marketing. It’s been awhile since I’ve listened to his show, but the last time I observed, Dave Ramsey is a personal finance adviser, not a business adviser. The reason I say that is because there’s nothing “personal” about finances, and when you take your finances personal, it can get you in deeper trouble. Dave Ramsey is in business to advise his followers to make a lot of banks rich without reciprocation, just pay attention to his advertisers; there’s a reason why you’re hearing their commercials on his show. Dave Ramsey advises mostly middle class Americans to do the same script of finances that has been given since the 70s. Make no mistake, I’m not bashing Dave Ramsey, there’s some things he talks about that I do agree with sometimes, however I don’t think he’s right or wrong, he’s just protecting his business, his industry, and speaking to his audience that needs someone else advice on how they should handle their own finances. If some of his audience disagreed with him, they know what they have to do, other than that, he has a target market that resonates with his personal finance tips; getting too personal with numbers.
WHAT I DISAGREE WITH ERIC WORRE:
The “laws of average” principle:
There are laws of the Universe; attraction, karma, relativity, gravity, physics, nature, hypnotic rhythm, I can go on and on. But one law that I never heard of was THAT; laws of average. To me, the laws of average sound like a law average people follow because they believe they’re average, so they do average things which produce average results. To me, this laws of average thing beats out the entire laws of abundance principle, because abundance and average don’t get along with each other. Now if there IS a law of average, please inform me about it and I’ll be glad to update it here on this topic.
Now if you believe in the laws of average, it must be true to you which comes from the laws of attraction; what you think about, believe, and live by, you put out into the Universe, and the Universe always says “yes, with every mental ACTION, there’s an equal and opposite RE-ACTION. So if you believe in average, I MUST give you average results back”. But if you believe that you beat out average every time, the Universe has to respond to your thinking based on the law.
WHAT I UNDERSTAND BOTH MEN ARE COMING FROM:
Both men have a passion to help people with their finances. I can see that. From my observation, Eric does what I call a transition from personal to business finance. Network marketing from a numbers game is business in the eyes of the tax code and the IRS, so it’s important that both Dave and Eric highlights the business side which Dave did mention. Eric is in the business of network marketing and helping people get involved in it if they’re interested. Just like Dave Ramsey’s niche audience, Eric’s advice caters to those IN network marketing where there’s a greater amount of members in this industry that they most likely done massive personal and financial growth. Eric’s audience is more open minded to opportunities, and train their minds to identify them when it comes across their path. Most of Eric’s guests are well known entrepreneurs of huge enterprises with state of minds that produced the very products that Dave’s audience direct 99 percent of their earnings to buy. Eric has an audience that resonates with his message regarding network marketing and finance; DON’T get too personal with numbers.
At the end of the day I look at it like this regarding both men:
If network marketing ceased to exist overnight, and everyone in this planet and country decided it was no longer for them and they went back to the life of an average 99er and worked the 9to5s, Eric might lose his business advising network marketers, GoPro would be irrelevant, and he might look into other business ventures.
In contrast, if all 99ers and “personal finance” mentalities ceased to exist overnight, and everyone on this planet and country decided to go into network marketing and wanted advice on how to be successful in it, they quiet their 9to5s and saw being a 99er as an insult to their financial intelligence, and they all of a sudden got the principle behind network marketing and went full force in the industry, Dave Ramsey might lose his business advising 99ers on average incomes, saving their earning from their jobs, his show would be irrelevant, and he might look into advising for network marketing or just other business ventures.
In other words; they have an industry to defend.
Now I am a network marketer and I love what I do. However, when my intuition call me to do something based on my passion, the LAST thing I do is call some “guru” for his or her advice. They’re not in my head, they never seen my dreams or goals, and they don’t know me or my potential.
I don’t believe network marketing need defending at all. You don’t defend why 1 adding to 1 equates to 2 do you? It is what it is; you redirect what you’ve been spending from traditional products at traditional retailers to your products that pays you when someone buys from you through word of mouth. It happens all the time, there’s nothing complicated about that, but society needs complication. When you present someone to network marketing, they’re not skeptical of the industry, they have no problem with network marketing promoters, they have a problem being called out on what they buy. Some buy on unconscious impulse without thinking, which becomes an addiction that doesn’t require thinking, apart from network marketing that requires you to ask “am I going to make money mentioning this product, brand, or purchase?” Network marketing doesn’t need an ambassador to speak on its behalf either, because most people who aren’t opened minded to hear about network marketing isn’t a target market.
So every rebuttal or debunking isn’t going to “wake somebody up” to the industry if they choose to live in their own financial lie. I look at it like this; most of Dave Ramsey’s audience shun network marketing even if they were looking into checking it out. They have their minds made up, and their crowd is loud enough to persuade them away from it. Dave knows this, and therefore I don’t blame him for telling the young lady what he said.
WHAT I WOULD SAY TO THE YOUNG LADY WHO CALLED:
She heard advice from both men so I won’t repeat them. However I encourage her to do some deep soul searching on who she is, why she’s here, and no longer take advice from someone else except if they come across her path as confirmation of what her intuition already told her. Network marketing isn’t good or bad, it’s a vehicle that she can use to reach a milestone for herself if she choose to. However, the last thing I would do is convince her to go for it. Convincing someone is justifying which means you don’t have the confidence or trust in yourself to say “do you”. Even if they give you all the data and information out there that allegedly prove network marketing to be anything but successful, convincing is the hard work part where I do agree with Dave; they are annoying and will look at you different.
TO ALL NETWORK MARKETERS:
Stop defending your business, and the industry to naysayers. They are their for a reason, and allow them to call it everything under the sun. Most people shun the wealthy for how much money the wealthy making, but you can’t beat them buying the products the wealthy produce and you don’t see the wealthy breaking their neck to defend themselves. They refuse to waste their precious time defending, they let other be, think the way they want to think, and the wealthy continue to create, so these complainers can line up at their stores at two in the morning late November to buy their products.
Tell the naysayers they are correct, give them their “I’m always broke but right about everything” fix, leave them be, and you be rich.
And one last thing: for all you network marketing promoters that see your company as “better than the rest” and other network marketers as “competition”, let me say this: you’re more likely cannibalizing your own business watching what your so call “competitors” are doing. It’s none of your business what they’re doing. The entire network marketing industry as a collective has one goal; helping our fellow human beings become better both spiritually, mentally, physically, AND THEN…financially. I say financially last because if you’re not stable spiritually and mentally which automatically trickles down to a desire of taking care of your body, then the finances don’t even matter. We are a family that are assisting the masses into finding their own unique voice and sovereign potential one person and relationship at a time. Then we utilize the laws of attraction to make it go like cruise control. So if you see this as “competition” of demeaning other companies apart from yours, don’t message me about coming to my team and I encourage you go back to the hard knocks life of corporate America. They’re still hiring.
Regardless of your company and its products, respect others and whatever company they resonate with and their intuition called them to do business with.
There’s nothing to be upset — or beefy about there.