Yes, the same principle that built FaceBook, Instagram, WhatsApp, Linkedin etc was based on YOUR EFFORTS of inviting your friends into a network that fooled you into thinking it was FREE. Just because you are not paying in cash doesn’t mean it is free my friends. In the Digital Age YOUR information is CASH MONEY. The worst part is, none of these multibillion dollar Companies paid you one cent to say thank you for giving up your information and recommending your friends to do the same.
So, what is wrong with this system and why am I writing about it? As someone who has a degree in Marketing and understand the amazing power of “Pyramid Schemes (bad name) aka Network Marketing, MLM, Referral Based Marketing and any other name you have for networking, I HIGHLY recommend them as a method TO BUILD A BUSINESS, as they are the only and I repeat the ONLY method for any small business to grow WITHOUT GOING BROKE SPENDING MONEY ON MASSIVE ADVERTISING CAMPAIGNS.
Think about it, wouldn’t you love to have your friends, family and small circle of influence recommend your business to their friends and have their friends do the same? If you answered No, you are an idiot and should stay in your 9am-6pm dead-end life. The clear answer is YES.. Well dear friends welcome to MLM, Pyramid Marketing, referral system etc. whatever the hell you want to call it. The movie industry, your hair dresser, restaurant and even your drug dealer depend on you to do the same, refer business to them.
The term “Pyramid Scheme” got a bad name from the media back in the days (google it) however it is not the system that is the problem, it is the company and the product that must be carefully examined. If there is no product, it is a Ponzi Scheme. (google it , if you don’t understand what Ponzi means).
I am writing on this subject today simply because I was telling a friend of mine about a referral based system I am involved with and was recommending it as a way she can make some extra money and build a little savings on the side with very little time. She dismissed it as unethical due to the fact that it was a referral system. I was a bit put off for two reasons, 1. she thought that little of me that I would be involved in something unethical, even though I have worked with her husband and helped earn her family an income for over 5 years in my traditional business, 2. Now this poor mother works and commutes over 15 hours per day to earn crap wages and have no other choice and casually dismissed the only method that will earn her some extra income. She did not understand and refused to examine with care, a common problem with “workers”.
Sure the digital world is a mine field that most people have a hard time navigating. Yes, you must tread carefully, however if you want to get from one end of the financial field to the other you have to take a step, examine the ground and step again. If not you will die a cold financial death standing still. Entrepreneurs understand that there are risk in taking a step, but they also know the risk of not taking one is much greater. Remember your money sitting in the bank is loosing value, not only with no interest but those damn bank fees are eating away at every single month.