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ChooseFI | Financial Independence Podcast

Expand Your Zone Of Awareness

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Investing, Business, Careers

4.85.2K Ratings

🗓️ 24 May 2019

⏱️ 59 minutes

🧾️ Download transcript

Summary

MLMs promise wealth through recruitment, but 99% of participants lose money. Jonathan and Brad share their recent experiences with these predatory schemes and explain why the business model is fundamentally broken—you're not selling products, you're selling the dream of selling products to others. Brad's radar went off when an old colleague sent a vague email about a "business venture opportunity." Jonathan faced a similar pitch at lunch the same week. Both recognized the telltale signs: evasive answers, recruitment-focused compensation, and products that can't compete on their own merits. The hosts break down why MLMs fail most participants and contrast them with authentic entrepreneurship. Rather than chasing questionable opportunities, they advocate for side hustles that genuinely excite you and business models built on real value. Beyond MLM warning signs, the conversation explores how expanding your "zone of awareness"—the range of knowledge shaping your decisions—opens doors to legitimate wealth-building strategies. They also examine energy audits as a practical example: some efficiency improvements deliver 18% annual returns while reducing environmental impact. Chapters Introduction to MLM [00:00:00] Brad's Opportunity Experience [00:01:01] Jonathan's Lunch Meeting [00:02:19] Defining MLM vs. Authentic Business [00:08:03] Zone of Awareness Discussion [00:12:26] Energy Audits [00:47:30] Podcast Conclusion [00:58:35] Key Quotes "You're not just selling a product; you're selling people on recruiting more sellers." - Jonathan [00:04:59] "A real opportunity should allow all questions; anything less is a red flag." - Brad [00:07:46] "Choose a side hustle that inspires genuine enthusiasm." - Jonathan [00:13:02] "It's about aligning spending with personal values, not mere frugality." - Jonathan [00:30:05] "Action leads to growth; focus on the process, not just outcomes." - Jonathan [00:52:34] Resources Design Your Future by Dominick Quartuccio [00:57:24] Episode References Episode 067: Discussion on Financial Independence [00:17:10] Episode 121: Sustainable Living with Angela [00:47:30]

Transcript

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0:00.0

On today's episode we discuss multi-level marketing side hustles expanding your zone of awareness and energy audits.

0:06.0

Welcome to the Ultimate Crowdsource personal finance show. This is your Friday Roundup.

0:10.0

You're listening to Choose Applied Radio.

0:15.0

The blueprint for financial independence lives here.

0:18.0

If you're looking to unlock the secrets to financial independence and early retirement, you're in the right place.

0:25.0

Stay tuned and join a community of like-minded people who are getting off the answer.

0:30.0

And taking control of their lives in the pursuit of financial independence. Choose FI, your home for financial independence online.

0:48.0

All right guys, super excited to dive into this past week's episode and help me with this. I have my co-host Brad here with me today. How you doing buddy?

1:02.0

Hey Jonathan, I am doing quite well. Yeah, we're getting ready to go to camp 5 minute Lanark this weekend. That should be fun. I'm hoping as always to hold on to my voice here. But other than that, you know, doing well.

1:13.0

I have something that I just have to like almost interrupt you to tell you. So I just can't believe this came in my radar. What an opportunity.

1:20.0

I got an email from an old colleague that I had worked with back in the day and the email basically said, hey, I saw you get your doing something online.

1:27.0

And I was wondering if you're open into additional business venture opportunities. My like red alert radar system was like going off and just spelt like that.

1:36.0

Yeah, that's a spidey sense thing, right?

1:39.0

When you get like this vague super super vague email actually Brad that same day I message you and I said, Brad, I think I just got pitched on a

1:47.0

an MLM type program, one of these kind of multi level marketing type programs. I'm not sure it was super vague. And there is context for just going to hang out and catching up. But I'm pretty sure I just got invited to a MLM lunch and just with our particular situation is

2:01.0

podcasters in the personal finance space who talk about stories in her own personal lives. It almost felt too good to be true. But I messaged you if you remember and to which your response was no, no, I'm sure it's I'm sure it's just a catch up.

2:15.0

But my spidey sense was like it was tingling, man. So I go to lunch, I go get coffee and sure enough within five minutes the binder has been broken out in its amway.

2:27.0

Now, when I was 18 years old, I was quite literally this is story that spans a decade, right? When I was 18 years old, I was walking around in a best by looking for a Sony Walkman or something of some such maybe was a CD player this particular point time and I had a similar person kind of solicit me in the aisle, ask me if I would said I look like a very entrepreneurial type of person, ask me if I was interested in a business opportunity.

2:49.0

I don't know why that's always the opening line, but at the age of 18, it was just yeah, of course I'm interested. You tell me there's a guaranteed path to wealth and I can I can work my own hours. I can have this creative lifestyle. I can design my own future and all I need to do is come with you to this to the seminar. Why not? Well, I did not end up pursuing it there mostly because just I don't know what it was even at that point at the age of 18 that just felt like something didn't quite connect.

3:16.0

But now at the age in my 30s, I'm presented with this exact same opportunity and I'm sitting down from lunch and I don't know if this guy exactly knows what he's getting into when he's sitting down with me, but it was a much different conversation and I think I think I want to share parts of it with you.

3:33.0

So you you pushed back you didn't just sit idly by and listen to this feel right like you actually push back on it. I did push back yes, yes, I push back so I'm listening to pitch and I said all right, well hang on.

3:45.0

Just a second. Let's just pause for a second here. I don't particularly want to be selling these types of products like nothing in the amway lineup looks that appealing to me like energy drinks. I can get energy drinks somewhere else. He's like, well, no, that's not the point.

...

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