Are you in interested in making easy money? Maybe MLM is for you!. However, before you look at MLM you may want to consider the following issues.
MLM or Multilevel Marketing Can Be a Good Thing
Multilevel marketing (MLM) is an attractive business proposition to many people. It offers the opportunity to become involved in a system for distributing products to consumers. The distribution of products is a very important component.
Unlike the person starting a business from scratch, the multilevel marketing participant has the support of a direct selling company that supplies the products and sometimes offers training as well.
How MLM Works
As a consultant or contractor or distributor (different companies call them different things) you make your money by selling the products to other multilevel marketing participants. Some MLM’s offer sales to non-marketing participants. You always have the opportunity sign them up as members.
Besides earning money off your own sales, you also earn a percentage of the income generated by the distributors that you’ve brought into the program (your downline). Often there are bonuses for selling particular amounts of product or signing up a certain number of new members; you can earn cars and trips as well as cash.
A pyramid scheme is a fraud based on recruiting an increasing number of investors.
Typically, new recruits pay a sum of money to join the “program” and become a distributor of a product or service, and are told that they’ll make money based on the number of new recruits they in turn bring in. The basic idea is that the higher up on the pyramid you are, the more money you’ll make.
In reality, what happens is that only the originators of the pyramid scheme make money and the rest lose theirs when the pyramid scheme collapses.
Eventually ALL pyramid schemes collapse, as the recruiters on the lower levels fail to bring in enough new participants to support those above them.
Is a MLM a pyramid scheme?
1) Are you required to “invest” a large amount of money up front to become a distributor? This investment request may be disguised as an inventory charge. Legitimate MLM businesses do not require large start up costs. They suck you in by providing you with low startup costs. Then some will require you to get websites, and begin paying monthly fees.
2) If you do have to pay for inventory, will the company buy back unsold inventory? Legitimate MLM companies will offer and stick to inventory buy-backs for at least 80% of what you paid. I’m not really sure of this, but they definitely recommend you buy monthly inventory to give as product demos, to help entice new members to join, etc.
3) Is there any mention of or attention paid to a market for the product or service? Multilevel marketing depends on establishing a market for the company’s products. If the company doesn’t seem to have any interest in consumer demand for its products, don’t sign up.
4) Is there more emphasis on recruitment than on selling the product or service? Remember, the difference between multilevel marketing and a pyramid scheme is in the focus. The pyramid scheme focuses on fast profits from signing people up and getting their money. If recruitment seems to be the focus of the plan, run.
These next two questions will help you determine what the focus of the company is:
5) Is the plan designed so that you make more money by recruiting new members rather than through sales that you make yourself? This is the signature of a pyramid scheme operation. MLM’s show the profits that you can make by recruiting new members and get them to recruit more new members to increase your tree.
6) Are you offered commissions for recruiting new members? Another pyramid scheme trademark. It’s the number of people who are willing to sign up that matters in a pyramid scheme, not the products or services being offered.
7) MLM’s continue to change and merge with other MLM’s or they change their products and encourage you to go along with them. You will usually be allowed to bring your existing customers, but you will be required to buy new websites, more product, etc.
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These are a few that I am familiar with.