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sorry it lagged out and accidentally posted twice!
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You should buy three more squares.. 
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I've never seen a pyramid scam that wasn't a scam.
Can someone tell me how Amway is still in business?
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I only joined cause I was bored... and was looking for a real challenge in my life... cause I KNOW the what the status quo thinks about pyramid schemes... which is why the task is near impossible... I'll report back when I acquire a business partner... or if I come up empty
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I recall joining one after the esthetician I went to at the time convinced me to go with her to the meeting ....lol their whole scam got squashed over time. I feel so stupid now not knowing better lol.
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If you're not in the first levels you're gonna lose your $$$.
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You really got to do your homework. Most people are uneducated and just call out pyramid without realizing that they themselves are in a pyramid. Everything is a pyramid: your job, the government, MLMs, affiliated marketing, and most organizations.The difference is whether it’s illegal or legal. Many of my friends have made millions and get a life that most will never have. Are they scammers? No. They are one of the most genuine people and one of the most giving people out there. That doesn’t mean that there isn’t scammers. Just like in every industry, there are scammers and these type of businesses don’t go unnoticed. That being said, I really admire that you started something because most people never start anything. I would still recommend you to do your homework really well and visit reliable website (like .gov) to identify if it truly is an illegal pyramid scheme. I would avoid websites like reddit and YouTube since some companies pay individuals to trash on their competitors. If you know for sure that they are legal, then study the people. Just because they are operating something legal, doesn’t mean they can’t use the business in unethical ways. So really study the people and the business!
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Great insights guys... I'm still in the preliminaries so we'll see
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In my experience, the only folks that make any kind of the money that these MLM's boast about are the ones that started it or are very close to the ones that started it.
Average Joe six-pack off the street, not so much. And your friends/family will hate you when you try selling to them.
Looks up all the scandals about Herbalife and Amway.
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From what I know both companies give a good portion to the community and have surpassed what very few businesses do. I will agree, I have seen A LOT of people do sketchy things with both businesses (I am not a fan of that), but we can’t really blame these companies for what people do with them (like we can’t blame all mechanic shops because of that one time a mechanic lied). I have also seen people do great things with those businesses for the good for others. All I can say is that they are legit businesses that could be used for good or bad. I have seen some of my closest friends (who by the way were never close to the person at the top nor did they start years ago) still make it. Success applies to every industry and it applies to everyone. If you put in the effort, then eventually you will begin to see results. Proud of the man starting one though. Time will just tell if he joined something sketchy or not.
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Social Security is a pyramid scheme.
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Legitimate MLM companies derive revenue primarily from selling products, not from recruiting members (that means that recruiting is legal as long as the revenue is made through sales). When fraudsters attempt to make money SOLEY by recruiting new participants into a program, that is a pyramid scheme. One of the ways to find out is if you are in a pyramid scheme is if there is compensation for recruiting others (than for product sales). That being said most top MLM companies like Amway, Avon, and Herbalife do not fall into this category since most don’t profit unless there is a sale made (it’s usually the start up MLM companies that get into trouble). For example, if a business owner of a legal MLM begins emphasizing “high returns in short periods of time” with “little effort”, then the business owner runs the risk of losing his entire business. If the MLM does not have any business codes of conduct in place, then the MLM company runs into legal issues and possibly being shut down (this is an illegal pyramid). I would recommend those interested in joining one to go to the (ftc.gov) website or the (investor.gov) website (not to some random person who knows nothing about the law). The (.gov) websites are the best type of resources and they will break down what is legal and what is not.
That said, Social Security is considered a legal pyramid scheme. I can see why it can get confused (I thought so too) but there is nobody empathizing “little effort” or “short periods of time”. If so, they would be considered the biggest legal scam. I personally don’t like how Social Security works though. I rather go with a legal MLM. It just makes more sense.
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If you are not connected and if you do not have any info you never can do any of it
But if you are connected
And if you have some under table in formation of course if you're interested you become big as I see couple of examples shoot for 500 million
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Why not venture in to timeshare sales while your at it..... I saw a few used car dealerships looking for salesmen on the way to work as well... please man raise your aspirations.
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The one thing that is common to all pyramid schemes is that they eventually collapse from their own weight. Having said that, consider that Social Security is a pyramid scheme! Scary thought if you are under 30 years old!
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"Legitimate MLM companies derive revenue primarily from selling products, not from recruiting members (that means that recruiting is legal as long as the revenue is made through sales)."
MLM is barely legitimate based on the ones I see around me and includes Amway. The newly recruited members are really the primary source of "product revenue." I am willing to bet that 80%+ of goods sold as "inventory" to the MLM structure "business" members are never sold to "retail customers" as intended. I think the entire MLM structure is based on its members to spend money to support the required legal structure on reimbursement: regular purchasing of inventory, and bonus payment based on products ordered by new recruits.
That said, my cousin is a hugely successful Amway lady. She derived her revenue from suckers in SE Asia and has a 6,000 sq ft house in Dallas.
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Pyramid schemes are a great way to alienate your friends, family and co-workers. If this is your goal, then go for it.
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You mean... SCAMway!
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One of the best networking companies, I've been involved with, was Pre-Paid Legal which was publicly traded on the NYSE in the 90's and early part of 2000's
It was one of the top performing stocks of the 90's.
It was purchased by a private company and now called Legal Shield.
I still receive some residual income from the compay to this day.
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I became an Amway distributor a few years after graduating from college in 1974.
At that that time, they had an excellent program in business and personal development
that helped me with my business career in corporate America.
Several of my associates whom I helped train in the Amway business went on
to have successful careers in business.
The Amway business helped me to understand the realities of being an entrepreneur.
Most people who join these networking companies have few skills to run
their own business and are too lazy to learn and therefore fail.
The key to success in business is your ability to SELL!
It's an ability most people have to learn and develop.
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| There are 20 comments on this blog. |
