Multi Level Marketing Scams Nigeria - Beware of Network Marketing Scams!
Multi level marketing scams Nigeria - Scams are everywhere. The perpetrators know that millions of Nigerians are living below poverty level and are looking for a quick fix for their financial problems.
Consequently, they offer them spurious money making schemes. And some of these make money fast schemes turn out to be multi level marketing scams.
How do you identify a network marketing scam?
It's pretty simple. Use this rule of thumb.
Any network marketing company that is offering you a multi level marketing program where you're not required to sell any product is selling you network marketing scams.
How do multi level marketing scams operate?
First, they offer a remuneration package or pay plan that is absolutely irresistible. You see the pay plan and you're like, "WOW! This is out of this world!"
Second, they offer a product that cannot stand alone as a product . . . a product that people would not buy ordinarily to any significant degree because it's either criminally over-priced or ridiculously insignificant.
For example, some popular multi level marketing scams a few years back involved a company that paid its members for selling recruitment forms.
Each new member that joined the business opportunity was issued five forms on registration. And he was to recruit five new members using the five forms he bought.
In simple words . . . each member recruits five members who each will recruit five members, and who each will recruit five members, and so on.
The commission payout was so enticing and thousands of people jumped into the bandwagon.
This is a classical example of network marketing scams.
Well, it is obvious that no sane person will go into a store and request to buy a sheet of paper for the price the mlm company was selling it.
Second, the product being sold (a form or company membership) had no real-world value. It wasn't membership into a health club with health insurance benefits, a travel club with travel benefits, a leadership club with training benefits, and any such value adding club. It was simply for the money.
This is exactly how multi level marketing scams work.
Network marketing scams pay members for selling products that do not add any real-world value or for selling a product that no sane person will buy if not for the income opportunity attached.
Network marketing scams do not last.
It's pretty obvious.
It's not REAL. And anything that is not real does not last.
That is why most network marketing scams blow up and close down within two to three years of operation.
The painful part is this . . . millions of Nigerians lose their money in the process.
Avoid network marketing scams like the plague! Protect what you have!