By Cathy Harris, The Ethical Black Business Coach
Because of the sagging economy, Pyramid Schemes are continuing to render people into a state of denial, despair and hopelessness, which ultimately leads to homelessness. Multi-Level Marketing (MLM) also called Network Marketing, Direct Selling, Referral Marketing and Pyramid Schemes need to be exposed. Multi-level Marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors.
There are tons of lawsuits across this country against these Pyramid Schemes, which still draw government scrutiny. There are so-called black leaders and business owners trying to get black communities all over the country involved in Multi-level Marketing, which is a type of fraud. Fraud is described as deceit, trickery, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage — so Pyramid Schemes are a form of fraud or in so many cases in the black community, a form of “Black on Black crime,” which uses the same tactics as predatory lenders, that prey on the weak and uninformed.
Why give energy to someone else’s dream while ignoring your own — so why would you sell someone else’s products instead of making and selling your own? The only thing good about these networks are the camaraderie formed with each other. But remember the old saying “misery loves company.”
Many admit they have lost friendships and had to distance themselves from family members and other acquaintances who have become obsessed with selling or recruiting them for these illegal Pyramid Schemes. The more these people invested, the worse their reactions to you. Is this what you want to live with for the rest of your life — not being able to look a loved one in the face because you have brought them into something that have taken their hard-earned money and hope?
Don’t miss these keywords when investigating these types of ventures – financial freedom, financial independence, independent distributor, and residual income. Getting involved will only hold you back from becoming the person you are supposed to be, while setting you back emotionally and financially, and stealing your dreams. Instead use your own ‘God-given’ creative talents and passions to start and build your own legitimate business. Walk away before it’s too late or while you still have your sanity.
Cathy Harris is known as “The Ethical Black Business Coach” and is the author of 24 non-fiction books including “How To Take Control of Your Own Life: A Self-Help Guide to Starting Your Own Business” and “The New CEO: 185 Easy-To-Set Up Businesses for Youth and Adult Entrepreneurship. She is available for Seminars, Workshops and Consultations and can be reached through her company, Angels Press, P.O. Box 19282, Austin, TX 78760, Phone: (512) 909-7365, Website: http://www.angelspress.com, Email:firstname.lastname@example.org.