Now-a-days, this is the most searched topic on the web specially by Students, that "is Multi Level Marketing good or bad?" So if you are also confused about the MLM then you are at right place.
In this article I am writing about The Truth of Multi-Level-Marketing and Pyramid Scheme.
Hey there, I am Madhusudan Somani and your are reading MSS Articles. Let's continue...
|The Truth of Multi Level Marketing|
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Before some time(3-4 months) I was also confused about the same. I am a student of B.Tech. 1st year, and don't have much knowledge about marketing. But this topic inspired me to do research. And I am writing this article from my experience and researches, which include, discussion with business consultants, discussion with MBA professors and students, and from Google, YouTube, many other sources.
The first thing which I understood is that it can be a very bright industry, if it is relevant to you. If your personality meets the requirements of this industry. In Multi-Level-Marketing, if you join then you will be given a product and information, and you have to connect the service directly with customers. This is also called Network Marketing. And if you make other people join the group then you will be given commission for that. That's all about this.
What is Multi-Level-MarketingMulti Level Marketing is a type of Business. And a Business is a pre-planned process or industry in which you have to sell a product of a company to the customer., and you will be given commission for that. But in current decade some companies are in the market who sell SCHEME not a PRODUCT. And according to many business consultants, "A business without a product is not a business, it may be a kind of joke or fraud".
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So be aware, if anyone contact you to join a MLM company and if the company doesn't have any product them don't join that company. And if many people of MLM are saying that this is a business of becoming CROREPATI, and they show you their payment proof, then it may be true that some of the people had reached this level, but do you know how many ?
A little from all those who join MLM. Promoters always say I have a team of thousands of people under me, then ask him, Do you know all of them?
They will inspire you that you have to join the company and then you have to make people join under you and commission will be yours. But ask him what is the purpose of joining?? A business is all about the purpose, if there is no purpose, there is no business.
And one more thing from my own experience, you may have earned a lot of money from MLM, but what your job is, to influence people to join the team, and if you force them then you only have money not fame. And fame should be given the first priority than money.
In these companies if there is any product then also, the main point of inspiration of the members is MONEY. They make you see dreams about luxurious life. The product is not the main point of discussion, then how will the company survive for a long time. And there were some companies who came in the market, grown up like a blast, and after taking money from thousands of people, then suddenly the news came that the company was fraud and the money of many people were wasted in that. Many companies had came and gone and many are in the market right now, I don't want to name any one, you can search for that on internet.
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What RBI says about Pyramid SchemeReserve Bank of India(RBI) also warned people about the MLM.
"The Reserve Bank has also said that acceptance of money under Money Circulation/Multi-level Marketing/Pyramid structures is a cognizable offence under the Prize Chit and Money Circulation (Banning) Act 1978. Members of public coming across such offers should immediately lodge a complaint with the State Police." said the Principal Chief General Manager Alpana Killawala on press release of the official RBI website.
I request to read the full information on the website of RBI and it will be clear to you the Truth of this fast growing industry Multi-Level-Marketing.
And finally I request you to share this article with all STUDENTS and help them to take the right decision in the same condition, because student is the most influenced target of this industry.
How was the article? Let me know in the comment box.
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