Is MLM a Scam? 3 Signs Your Biz Opportunity is NOT Legit
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Disclaimer: I'm not a lawyer, and none of this should be construed as legal advice. I'm simply stating an opinion based on my MLM industry experience.
I don't think that MLM is a scam...not at all. However, just like in other industries (Insurance, Finance, Car Sales, etc.) there are scam artists that will try & con you out of your hard earned money.
In this short article, I'm going to give you 3 simple signs that the MLM business opportunity you are thinking about joining could potentially be just a cleverly designed pyramid scheme.
I don't think that MLM is a scam...not at all. However, just like in other industries (Insurance, Finance, Car Sales, etc.) there are scam artists that will try & con you out of your hard earned money.
In this short article, I'm going to give you 3 simple signs that the MLM business opportunity you are thinking about joining could potentially be just a cleverly designed pyramid scheme.
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1. What is the product?
Is there a valuable product attached to the program? For instance, the program I'm involved with provides in depth, behind the curtain training from a 7 figure/year internet marketer...you get everything you could ever possibly need to build a successful business online. So there is extreme VALUE in the product.
2. Can you use the product without having to sell it?
If you can't use the product without having to sell it, then you probably need to run the other way.
3. Does the product have an established reputation?
This in itself does not mean a product is not legit...however, you have to be careful with new MLM opportunities that promise you that you can get in on a "ground floor opportunity." In fact, when I hear that phrase I typically run the other way.
The truth is, thousands of new people look to the internet each day to make extra income...so the fact that a "ground floor" even exists is a myth. There will always be new prospects for ANY business opportunity that is legitimate.
Is MLM a scam? The answer is no, but you do have to be careful, and research each company before you join.
Is there a valuable product attached to the program? For instance, the program I'm involved with provides in depth, behind the curtain training from a 7 figure/year internet marketer...you get everything you could ever possibly need to build a successful business online. So there is extreme VALUE in the product.
2. Can you use the product without having to sell it?
If you can't use the product without having to sell it, then you probably need to run the other way.
3. Does the product have an established reputation?
This in itself does not mean a product is not legit...however, you have to be careful with new MLM opportunities that promise you that you can get in on a "ground floor opportunity." In fact, when I hear that phrase I typically run the other way.
The truth is, thousands of new people look to the internet each day to make extra income...so the fact that a "ground floor" even exists is a myth. There will always be new prospects for ANY business opportunity that is legitimate.
Is MLM a scam? The answer is no, but you do have to be careful, and research each company before you join.