Welcome to Day 3 of June Series Multi-Level Marketing in the Philippines. If you missed the introduction then you can click this LINK. If you missed Day 1 What is "Multi-Level Marketing"CLICK HERE. If you missed Day 2 How to Succeed in NetworkingCLICK HERE or visit the post yesterday.
Is Multi-Level Marketing a Scam? That is the question we will be answering in today's post. Networking received quiet an amount of hate from the public especially those who don't understand how the system works. Before you join any MLM business it is important that you know what you are doing.
Day 3 is all about revealing the good, the bad and the in betweens of Network Marketing. We will try to gain more knowledge on the truth networking you might not know.
Quick Review
Before I proceed let's have a brief overview of yesterday's post. Click the Smart Goal Setting Worksheet below download it and share it to others as well.
What is Network Marketing and What is it NOT?
To easily distinguish between what network marketing is and it is not let's put everything on record. See below notes for comparison.
- Networking is LEGAL.
- Networking IS NOT easy money.
- Networking is a BUSINESS STRATEGY.
- Networking is NOT PYRAMID SCAM because of Products.
- Networking is UNSTABLE.
Now, Can You Really Make Money in Networking?
I have friends and people in my circle who have made money in networking based on what they post in their social media. Our high school valedictorian now has a car of her own. A senior from my college years who's also a magna cum laude owns not just one but I believe three high-end cars plus a lot of small business like eatery, computer shop etc. thanks to networking. So to answer the question briefly I believe YES, you can make money in network marketing BUT not everyone can.
Let's take a closer look on how one earns in an MLM business.
- Each networking business has their own pay plan or commission plan. It again works in a business model similar to this:
- You have to recruit new distributors if you want to earn commissions. As more and more people go to your downline your ranking will go up. Thus, your earning potential goes up too because your donwlines mostly do the hard work for you.
- It is also worth mentioning that most of the product sales come from members themselves not by the demand of the market. This situation makes joining networking very risky since money comes from the inside rather than outside of the business.
- The multi-level marketing system may only benefit those who have the upper hand already. Meaning the money you invest is what makes one of founding members become a millionaire. It works in hierarchy and those your uplines support you all the way it is still work the same. The money made by one member is a lost to another member. They need your money for the system to continue and for them to succeed.
FREE CHECKLIST FOR YOUR NETWORKING JOURNEY
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In Conclusion
As I've said in the introductory part of this SavingsPinay Series I am not way affiliated to any networking/Multi-Level Marketing business. I do not support nor do I discourage you from joining. The point of this whole series is purely for education purpose only. For me MLM business is great itself only and only if it focuses on the product that is high quality, consumable and solve the problem of the people.
At the end of the day it is your call not mine. I just hope you make the right decision for you and for your family's sake. Goodluck!
I hope this post helps. Share to others okay?
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