I have actually tried my best not to comment about this for 1yr and a few months now. I have learnt by experience to mind my own business and not talk down another person’s business. I have learnt that mudslinging only dirties the participants. Many times however, I have seen people who love and respect me make blunders because in the moments of their error, I was silent. While I certainly am not responsible for the world, I am at least responsible for some people who trust my judgement, who can benefit from my experience and who don’t need to make the same mistakes I have made in the past. If you fall into any of these categories, then this little piece of mine should be instructive. If you are however ahead of me or don’t value my opinion, please kindly ignore.
I said no because of the following reasons, sorry if they sound brief, I expect this to only be valuable for people who want to be shown the right direction, not people that are already lost.
1. I have been involved in my days of ignorance in a number of board based network marketing companies. I even dared developing a model myself. I learnt the hard sad way, that network marketing companies with boards or forced matrix are a time bomb. The systems will congeal after 18 months; the boards will grind to a halt!
2. I have learnt by experience that the profit margin for the owners of the company is so slim that they depend on those who will never make it to earn. All those stuck in the boards are known as breakage, and this money’s cannot be spent until you are sure the boards have become relatively frozen. Once the owner takes profit, the businesses either getaway, or the owners say bonvoyage. At this time, the pay-out options reduce and the only way you can get any money is by using the vouchers you earn to pay for new people.
3. Board based Network Marketing companies have another fundamental flaw, they allow for cheating. Well, if you run your life by true north principles this would be difficult for you. How? Many of the first movers buy 10, 20, 50 positions (of course you don’t need 2 of the products being sold, one is enough). They buy these multiple accounts so that when they market their friends, they can “cycle out” about 10 times before things get warmed up. Many have realized that the hope of one account earning more than 5 times in the entire lifespan of the business is a pipe dream. The boards are flawed and allow for gaming and cheating.
4. Some people say, “I know it will crash, but I will make my money first”. I am sorry; I cannot live my life knowing that I am putting other people into jeopardy. In the time of Ignorance God winks at. Now that I know for sure it will crash, I can’t be a part of it.
5. I saw the beginning and end of getawayclub, diamond cash club, six star travel, eplatinum club, family home club and travel access club. I literally knew when they started and when they ended. Boards don’t last, they are not built to.
6. The earning potential is good in the beginning, you earn $1000 in the case of Bonvoyage which is simply identical to Travel Access Club for doing very little, but if you have one account and earned on it more than 5 times, it means you already have a team nearing 30,000 or you have been conning your downlines out of their referrals. As time goes and the company grows you realize there is no residual income value from these businesses, once you stop being active, in a maximum of 2-3 months you totally stop earning. The early birds realize that they can no longer earn without a lot of personal effort, their zeal to help new comers reduce and they are all stuck… until another program shows up, and they begin to tell this same people to come to something more exciting.
7. Finally, if not for the grace of God, and the fact that I wear my heart in my sleeves and genuinely am interested in people. I would have by now earned an irreparable reputation for just my strong participation in one of these companies. Because these companies sell products that people can’t fall back on when the system crashes, there is really nothing for those who paid and didn’t get money back. The lack of value of the product only goes to further show that these are not even network marketing companies in the real sense.
These are 7 reasons why I said no! I still get called by people who believe if they can get me, they will get thousands of others, well, I’m sorry, you cannot get me. If I didn’t know what I know, I would have been the first person in many companies in Nigeria… the company owners know who to approach. I have learnt to decline. There are opportunities that are not worth it on the long run.
What do I suggest?
1. If you are in already, don’t bother to invite your friends to get you out. Leave it, and consider it a business loss. It’s better to lose N63, 000 than lose the trust link that can make you positioned for greater things.
2. If you are considering it, don’t. It’s almost 18 months and the end is nearer than you think.
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Date: 6th to 11th February 2012
Venue: NECA Building Alausa, Ikeja
Time: 8am-12noon or 6p-8pm daily
Matthew Abolurin is the Principal Consultant/CEO of Pep Access Ltd, a consulting outfit responsible for Business conception, actualization and growth, Sales and Marketing Training and HR Management. Matthew Abolurin is the President of Transformation Network International, a multifaceted Network where wisdom is given to create a life of Purpose, Passion, Peace and Prosperity.