For many people MLM is not associated with the positive opportunity it can be. Mainly because many people in the industry, including some MLM companies, use sales tactics which does not meet people’s expectations in 2018. It don’t help that people are told how easy it is to make money when the reality is the opposite, making money in MLM is not easy, but if you set yourself realistically targets and work long term you can earn millions. Just be realistic, it will not happen overnight. What to look for before joining a mlm company is our simple test to help you make the right decision.
Spotting a bad business opportunity is not that difficult, spotting a scam is normally fairly simply. And keep in mind, jumping onto a scam just because it can make you some easy money is always a bad idea, you cannot buy back your reputation!
- Do you receive a real product by mail for your money? That is a good first sign of what to look for before joining a mlm company.
- Does the product cost seem to be more or less on average retails pricing? If yes great, it mean you can actually sell the products, this is the key question to look for before joining a mlm company.
- Have the company been in business for a long time? Most traditional MLM companies offer decent business opportunities, but some have become very old school, their income potential are far from the best. On the other side, some of the newer companies offer much better pay plans, so new is not bad, you just need to keep in mind that newcomers sometimes fail.
- Can you join the business for free? Great, now we are talking, it is risk free so we don’t see any problems joining. Keep in mind that there will be products which cost money, it is after all a business opportunity.
Make at least one extra check, possible mlm scam
- Is the product solely online? Be sceptical, it can still be a great business, but you should ask more questions.
- Is the online product books, videos and other stuff that you probably could find for free? Stay clear, these are typical MLM scam products (no product).
- Are the business concept based around travel and marketing, where significant sums have to be paid to be in tittle to the products? Be sceptical, there are some big players in both the vacation market and marketing sector which some might argue do offer beneficial deals, but the reality is often that you can travel for less on your own, or get the marketing products (such as video) for free.
- Are crypto in some way the main products, education and/or mining? So far most companies we know about are scams, so be sceptical. Crypto are existing stuff, but too easy to setup for a MLM scam. But we know there are some truly exiting businesses to be launched that use blockchain technology, which also crypto uses, so we will eventially have some great crypto alike MLM businesses.
- Do the company solely take payments in crypto. It is a scam, so stay clear. If a business cannot accept payments by card or bank transfer it is not a real business.
- Are you being offered signup packages costing thousands of dollars/euro, in some cases we know about from 5000 to maybe 500 000? It is a fraud, yes you get crypto for your money, but it is worthless crypto. Your money will be lost, so stay miles away from anyone who are selling you this!