Be Street Smart
I few days ago, I listened to a presentation given by someone who presented an “Opportunity”. You know the type where they drop words like system, technology, the first in the market type that at the end, is network marketing in one form or another. I have no problems with MLM or network marketing or direct marketing. But let’s call a spade a spade and not call it something else. I’m not going to mention the name of the company here because I don’t think it matters. What matter’s most it what you do when you spot one like it.
You see after 35 minutes of talking a lot but not saying much i.e. we asked the guy to get straight to the point, what do we have to do, and the answer is to pay RM 1,000 ringgit for the privilege to be a part of the scheme. I’m calling it a scheme at the moment and not a scam because it seem you get equivalent value of some sorts worth RM 1,000. Otherwise I’ll call it a scam. After paying the RM 1,000 and when you bring is a few friends (who also pays RM 1,000) you get back say RM 300 (sorry can’t remember exactly). There’s a lot more to it to this scheme off course.
What I reckon something is not right is that, why jump through all these multiple hoops and hard to understand system. (I was paying attention initially to give the guy a fair chance). A workable system need to be that difficult to digest. After all, I’ve done my engineering studies and did my financial planning course, and those comes with more complex formulas to grasp.
Anyway the thing that doesn’t make sense at all is I don’t see why I should pay you for the privilege to introduce people/business to you? Excuse me. It would make sense if I pay say RM 50 or even RM 100, to join whatever you have, and if I introduce other people/business in which you make a profit and then give me a cut of the profit say X%. This just smells like a rat to me. While there are network marketing that sells products that cost a lot, at least people who buys them thinks it is worth the price and then if you the upline gets a cut, that still fair but just barely by my books.
Okay, the next thing to look out for is when the presenter start to call it investing your money. Excuse me? I not saying all MLM or network marketing is not genuine but look out for these red flags. If you still want to go ahead, it’s your money and your time.
In time such as these, there will be a lot of such opportunity springing up. So be careful. Anyway, that’s just my 2 cents.