Know you company in Network marketing (MLM)
Banking sector in India has initiated ‘KNOW YOU COUSTOMER FIRST’, why can’t we do the same in Multi-Level Marketing (MLM). I have come across many networkers who are interested only in companies, who are doing ethical business, for some it does not really matters; they are interested only in quick money. Some in Network Marketing business question, the whole concept of ethics in MLM.Do ethics still exist in today’s competitive market? Where everyone is in the league of cut throat business. I would say yes, it is not for how long that company remained in the market, keeping ethics forefront and collapsed after some time.
Question is, when an MLM company collapses, the people who joined at the bottom, feels cheated. Mostly the reason, why an MLM company collapsed is due to these reasons:-
- Distributing more money to associates than actually collecting.
- Business plans sound very lucrative, but for longer run, it cannot sustain.
- New joining rate is very slow; companies with sound business plan needs a minimum joining rate in a month to sustain.
- Are they following ethics and business conduct in case of fraud done by an associate?
- Check their registration, whether they are registered in your country.
- Are they registered with DSA & DSAI; it’s always better, but not mandatory.
- Know the intentions of people who are running the company.
- If you find anything suspicious, get it verified independently, rather by your uplines.
- Check it on Google, like type your company name and scam eg, (company + scam)
- Talk to top achievers, figure out what they are upto.
Everyone in this business has good potential, but every time after some time joining a new mlm company and then creating a team is a daunting talk, be careful about your company. It’s better to be a slow learner, but take your steps wisely.
Share about your MLM company in the comment section.