Is MLM a good business?
I have been invited by Pharmanex, which is a billion dollar corporation which is well established and is official, even used in the White House and the Olympics. But I have been invited as a distributor in its MLM networking. I am just a student so is it a good idea?
Has anyone joined any MLM… is it good even for me, a student? I’m from the PHilippines btw. You’re thoughts please
Most MLM Marketing methods are similar to Pyramid selling schemes but are changed slightly to get around Pyramid selling laws to make them legal and rely on three things 1:-, one or more quality or unique products, 2:-, an expanding stream of family and friends to hold meetings to generate sales and expand the levels of people/ consumers in the Pyramid, the third item in many cases is where the proffits for the top of the Pyarmid really lie and that is 3:- ongoing training and support, books, tapes Cd’s and video’s which the lower levels of the Pyramid need to keep buying to progress up the many levels in the Pyramid.
Pyramid selling is illegal in most countries as it is considered a kind of scam, the early ones just involved each member of the pyramid scheme putting in cash to attain a level then they would get a cut from anyone else that they persuade to enter the pyramid, once the scheme reached a certain level it crashed and everyone lost their money apart from the top handful of people, this is the reason the schemes were banned as it was just a scam preying on the greed and vunerability of the people involved.
Now I an not saying MLM marketing companies are scams these days but they work through trading laws to find a way to stay within the law but the principles are the same.
To be successfull you need to be proficient speaking in front of small groups of people in their homes persueding them to buy the products and become a distributor. Once you get further up the pyramid you have to speak publicly at huge gatherings/ meetings around your country to tell your story of how you became rich by joining the scheme, this then persuades others. Although the products may be unique or cheaper than in stores, the training items to be successful never are as this is the main profit center for the whole organization. Do searches on yahoo on MLM (multi level marketing) frauds to get a better Idea. Some of the schemes don’t even have anything to sell that you could not walk down any high street and get a better deal yourself.
My main point is, even the more honest MLM schemes it is only the top 1% that profit, the rest are the support groups, so you will need to be in the top 1% to win.
http://www.scam.com/
http://www.merchantsofdeception.com/
http://www.mazu.com/scams/pyramid.php
http://www.mazu.com/scams/ponzi.php
http://www.mazu.com/scams/mlm.php
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