I meet with so many people every month & I have found some of them are totally close minded & think as if all MLM Companies are fraud. It’s it really like that? Let’s first understand the definition of Fraud.
What is a Fraud
“Fraud is intentional deception made for personal gain”
There are some people who start the MLM Companies with wrong intentions, at the beginning their motive is not legal or ethical or morally right. Whatever we can term it like. And that’s very unfortunate thing that such MLM Companies are able to open up. MLM Companies starting with such intension are definitely there to cheat people, to do fraud. Definitely there are fraud mlm companies in the market.
But still there are some MLM Companies which get started with the right intension to serve the society. Today there are many MLM Companies which are running successfully in the market from many years, doing the business successfully & having Millions & Billions of Dollars turnover.
Concern with MLM Companies & MLM business in India
Yes, there is more concern with MLM Companies in the Indian market because as of now there are no strict rules & regulations for MLM business in India. There is no governing body which can control such activities, that’s why many people open the businesses of investment plan, money rotation & all kind of such crap in the market & many innocent people get affected by it sooner or later. But soon it’s expected that Indian Government will come up with regulations to monitor MLM industry in India.
By the way this happens with any new industry. When insurance industry got started in India there were lot of issues, but once the regulatory body was formed things got easy & today insurance industry is contributing in the big way to the Indian economy.
What’s the solution for people of India?
Obviously all MLM Companies by no means are fraud!! What I suggest to people who raise up such concern to me is – they must avoid getting associated with MLM Company that has origin from India, other any other country where mlm laws are not there. Reason being as discussed earlier we don’t have any laws to monitor MLM industry in India, as a result in many cases it comes out to be fraud. Even if the company runs for sometime intentions of people can change later on as there is no watchdog to punish.
So it’s always better to get associated with an USA / European / some other established company which is already running from some time. Please don’t only join on blind trust of your near & dear one because sometimes your near & dear ones get into wrong company unknowingly. And once our close one joins any MLM company & asks us to do same, without understanding the concept we join it.
Read Here: How to Choose Best MLM Company?
Who is associate with MLM Companies & MLM Business
You might have seen some good educated people, people working at good positions, having good business joining the mlm companies, but you might not be aware some of the top shots people in this world are also associated with MLM Companies & MLM Business. Some of them are:
Warren Buffett: owns 7 mlm companies
Bill Clinton: endorses this industry ..
Richard Branson: former owner of Vie at Home
Donald Trump: owns MLM company
Robery Kiyosaki: strongly recommends MLM business to a common person
I will not elaborate who are the above personalities you can just Google it & you will come to know the heavy weights involved in mlm.
By the way these people know more about life & money, than YOU & ME! Hence when they have involved themselves in MLM business, it’s better one should increase his knowledge & try to understand this powerful industry with an open mind.
Obviously all MLM companies are not fraud else such people would have never associated themselves with this industry & even there are regulatory bodies in the developed nations to monitors operations of mlm industry. It’s just a new industry that’s getting started & is there from few years. Some patience is required sooner or later rules & regulations will be there. Till the time you can definitely do the mlm business with any good mlm company.
By the way this article was not to convince about mlm business, etc. if you understand the power of this industry get involved in mlm business with any good mlm company to change your life, else you are already living an ordinary life!!