During past few years, I’ve come across several network marketing companies. I’ve seen Amway, Modicare and recently QuestNet(GoldQuest) from close angles. I’ve also attended presentations by around 6 other network marketing/MLM companies, names of which I do not remember. I never cared to enroll into any of them, but have been following the developments and their business models out of curiosity.
In this post, I am presenting my general observations about MLM companies. These are not targeted to any specific company(not yet) and there can be some exceptions/ differences/ deviations w.r.t. some companies. Expect some more posts of this kind in near future.
General observations about Multi Level/ network marketing companies
1. No MLM/Network marketing company wishes to identify itself as MLM/NM company
There’s a saying- "if it looks like a duck, swims like a duck and quacks like a duck then it IS a duck". But despite having all characters of a MLM/pyramid scheme, no network marketing company wishes to call itself as such.
2. Products are for namesake. Main job is to enroll more members
Most of these companies use products as a cover for their chain membership scheme. Products are for namesake. Main objective is to find new prospects and make them enroll under you. They don’t care if you’re a PHD, MBA, MBBS or uneducated or whatever- just hunt for new prospects and sign them up-that is the one and only task for everyone involved…