The three foot rule basically states that marketers are supposed to consider anyone within 3 foots of them (literally) to be possible clients. It was brought about in order to force people to extensively look for clients and recruit more marketers into the business. However, this rule has really brought about a lot of controversy among many business elites. Some claim that the rule is not realistic while others are for it 100%. It all depends on how you take it or use the rule.
Personally, I think that it all depends on how well you put the rule into practice. Generally, people do not appreciate it when strangers approach and start talking to them persuasively about business opportunities. In fact, some do not take it lightly. They think that you have seen them to be failures that need a job; and this might even end up in a scuffle. If you are the type that will approach people in the streets or fellow passengers in a bus, then you are doing it wrongly. Look for areas that have a lot of business minded individuals. Take for example business seminars; most people attending such are individuals that spire to be entrepreneurs in the future. This is one group that will not mind hearing bout a particular network.
Furthermore, if you analyze the amount of time you will use up talking to everyone you meet then you will be astonished. One thing is for sure, not everyone will accept your proposal. Maybe only 20% will take time to listen to you. Mathematically, you will have wasted about 80% of your day talking to people that do not give a heck about what it is you are talking about. If compared to someone who strategically points out to potential clients, then you will have earned approximately half what he or she has earned on that particular day.
All in all, the three foot rule is not bad. It tends to be bad when used wrongly. In fact, it is a very strategic method of going about your day to day marketing and recruiting spree. Just look for the right people to confront. Do not jump around talking to every Tom, Dick and Harry that you spot on the streets; this will not take you anywhere. As a matter of fact, it will waste you.