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Quick Things You Should Know About MLMs

Quick Things You Should Know About MLMs

The term Multi Level Marketing (MLM) refers to a strategy used by some direct sales companies to sell products and services. MLM encourages existing members to promote and sell their offerings to other individuals and bring on new recruits into the business. Distributors are paid a percentage of their recruits’ sales. New recruits become the distributor’s network or downline and are, in turn, encouraged to make sales to earn money. Many MLM schemes are legal but there are illegal operations that are run as pyramid schemes.
With the rise in a surge of series of network marketing/multi-level marketing flying around, I thought to share with you some red flags you should look at for, the next time you are invited to come and ‘invest’ in a “financial opportunity that will change your life”.
No / low-quality product or services: there are so many things to be mindful of, but the most important is a business with no product/services. All they are concerned about is you recruiting more people for you to get paid.
They want you to join ”now”: a business opportunity that doesn’t allow you to calm down and do your research or ask any “silly” question may not be a good one, after all, you are investing your hard-earned money. Don’t fall for the lure to get you on the ground floor.
Fee-based ‘fast track’ program: MLM businesses having some start-up costs is understandable, but be careful of those that push or pressure you to have inventory that requires additional investment, or fee-based fast track programs.
Poor company communication: Don’t be afraid to ask hard questions. If you don’t get solid answers or are chastised for not being a positive thinker or believing in the company, consider it a red flag.
If the rep is hesitant to answer your questions or glosses over your concerns, then you might need to have a rethink.
Deceptive Advertising Practices: I’m sure you must have come across some ‘job’ offers only to find out that they are MLM programs after applying. MLM isn’t a job, it’s a business.
Other practices include making income guarantees or suggesting you’ll make money doing very little work.
Finally, before you join any MLM, make sure you do your underground research, how sustainable do you think the business is? Don’t be carried away with the calculations and the pleasures they painted for you.
Even if they have products they sell, how much do you yourself believe in the product, do you have a feasible market? or you are just hoping, because of the ‘wonders’ they told you the products perform, not minding if the market is already saturated.
Can you, yourself buy the product?

Remember, the fact that there are a number of MLM scams around doesn’t mean that there are no good ones, you just have to be careful and smart enough to discern them.

So,  what’s your view about MLM?
Have you any experience?
We’ll love to hear from you.
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