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Hey, everyone!
If you have been following my "What is Network Marketing?" series, you'll know that I have talked about both network marketing and pyramid schemes.
Over the course of my entrepreneurial journey, I have been approached by many people pitching me their amazing business opportunity. As I hope you all understand by now, I am all for new opportunities so I usually make sure to listen. Due to this, I have been able to know what is the difference between a network marketing opportunity versus a pyramid scheme. After hearing multiple scams and multiple businesses, I have come across a legitimate opportunity that I'm a huge fan of.
But....
I have also developed these 3 red flags that apply to all pyramid schemes. If someone approaches you with a possible opportunity, I encourage you to listen. But I strongly encourage you to be informed and be cautious. Use these 3 red flags to distinguish between legitimate business opportunities and pyramid schemes disguised as "opportunities."
3 Red Flags
1. CEO/Owner is Anonymous
This should be common sense but too many people become oblivious to it. If the CEO/Owner of the company that is being pitched to you is unknown, then that should be a HUGE red flag. If the creator of the company is willingly refusing to acknowledge their connection to the company, then that tells me that they already have their escape plan so that they run away with lots of money with no consequences.
Whether you get a regular job or join a business opportunity, you NEED to know who the CEO/owner is. ALWAYS.
2. Product/Service of Value
One of the distinguishing factors of a pyramid scheme is that the "business opportunity" doesn't have any form of a product or service. In a legitimate business, money flows up but VALUE flows down. The end customer receives value, a product or service, in exchange for their money. That's how a business has always worked and that's how it always will work.
3. Promised Profits
The only time you are ever guaranteed money is if you get a job. In a job, you exchange your time for money.
In a legitimate network marketing opportunity, you are paid based on your own efforts and on the production of your network. It's not a job. You are not exchanging your time for money. You can put a lot of time in a business but if the business doesn't actually produce anything, then there isn't any money.
Many times, a pyramid scheme will tell you that you just have to pay an X amount at the beginning and you will get Y amount every day forever. If something like this comes your way, I highly suggest you take a second look. Any entrepreneur, whether it be network marketing or from a traditional startup, will tell you that they worked hard for their business and financial returns were never guaranteed. They were earned.
Take these 3 red flags and protect yourself, everyone! Don't fall into the trap of promised luxury vacations and sports cars. The only way you'll get them is if you earn them. :D
Also....
Of course, if what I'm talking about peaks your interest, then simply message me on my Facebook Page and I'll provide you with more info about what I do. :D
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Best Wishes!
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