Speak Asia‘s press conference, raised many questions. Even company’s loyal panelist were not aware of many things like Speak Asia online is not a company but a panel service provider, the money they have paid to the company is for the subscription of e-magazine published by Speak Asia not investment. Many panelist are saying that they never heard of such e-magazine and no one ever told them during the business presentation that they are paying Rs.11000 for the e-magazine. Speak Asia tried to explain business model from their point of view, which is different from what panelist have explained in the business presentations.
Speak Asia was uneasy about sharing the business model of company with journalist but unless they don’t share the business concept to the panelist, how they expect panelist to increase the growth of 1 crore by Dec.2011? They must understand that things have changed.
The real question, will Speak Asia survive in coming time. There are two things two look at. If Speak Asia‘s business model is not money circulation as media has projected, then even without enrollment of new panelist, company would survive. Second thought to the business model, without new enrollment, if it’s based on Ram’s hat on Shyam’s head and Shyam’s hat on Sanjay’s head, then company will run out of funds to pay to the panelist for the regular survey income which company has promised to the panelist for a year term.
Currently there are 19 lakhs panelist, their money, pride, future and the most faith is at stake. Media’s role is to cover a story, not pass judgement, in this case they have done their job as per journalism standard, though they have created lot of tension, hue and cry among panelist. If somebody to be blamed, the government agencies role comes in-question, were they sleeping when alleged scam was happening at the national level. The truth will come out when investigation would be done by RBI & the Enforcement Directorate.
There is a classic case of person called Bernard Madoff in the US. He ran a Ponzi scheme for about a period of at-least 20 years. He ran this scheme successfully, things changed during the start of economic meltdown in 2008. People were withdrawing money and there were no new investment came along to pay off old clients. The estimated fraud is of $60 billion US dollars. Read more about him – Bernard Madoff.
The question is not who lost or won during the press conference, the interest of panelist should be kept at the top. Panelist should not be the loser among company and the media. our advice to the panelist is that limit you activities, don’t enroll new people, unless you are fully confident. The moment your money is back in your hands by filling regular surveys then look at the business opportunity given by Speak Asia Online.