The days of going door to door to sell Mary Kay or Amway have shifted to businesses being built through social media. Now, Mary Kay and Amway are still forces to be reckoned with in the sales arena, but now there are a multitude of companies in which people can get into simply by having a social media account!
I know you see a lot of opportunities on Facebook where individuals are offering you the chance to be financially free in a hot flash....well most likely that is an extreme exaggeration. However, there are many REAL opportunities where REAL money can be made through social media and marketing.
I do not care what the opportunity is, you will find a video on YouTube where someone is explaining how it is a scam. Herbalife, Amway, Avon, Mary Kay, and the list goes on and on, however I can tell you from personal experience that these are LEGITIMATE BUSINESSES! I say this to impress upon you that it is critical to do your own research and consider the source when taking the advice of others. I would avoid speaking with a disgruntled sales rep who didn't want to put in the work about the possibility of making money with a company...they are mad because they didn't get rich overnight in most cases.
Also known as network marketing, MLM is a system of retailing in which consumer products are sold by independent salespeople (distributors). Earnings in MLM are based on effort and ability to sell consumer products supplied to the distributor by the company. A MLM company will also encourage distributors to build their own sales force by recruiting, motivating, supplying and training others to sell products, earning a percentage of the sales from the sales force.
Red Flags of a Questionable MLM Opportunity:
What are Pyramid Schemes?
Pyramid schemes concentrate mainly on making quick profits earned by selling the right to recruit others. Pyramid schemes focus more on recruiting other participants than selling the product or service, making little to no mention about the market for the item. Pyramid scheme participants try to recoup their investment in products by recruiting potential investors.
Red Flags of a Pyramid Scheme:
Ultimately, you will have to take risks if you are truly interested in starting your own business, being a entrepreneur or even working side hustles. What is even more risky is depending solely on a 9 to 5 without a PLAN B. It is ALL RISKY. The key is to so your research and DO THE WORK! I am personally involved in several MLMs and I can tell you, you will find tons of opinions on them being AWESOME as well as twice as many of them being SCAMS. I had to make a call for myself and after research, I jumped in...with NO REGRETS!!
Real estate is always a primary part of those who are wealthy portfolio. Become a realtor and learn the game from the inside out!
Invest in yourself and learn a skill that will allow you to make money whether the economy is up or down! No recruiting required, however if you do share this opportunity with others, your Forex education could be free!
Learn financial strategies and gain access to powerful financial tools to secure your family's financial future. While doing so , you can work to help others do the same if you choose!