For sure, you are familiar with the line: ‘Open-minded ka ba?’
And I am so much willing to bet my
life one thousand peso bill that you know.
Trending kaya ‘yan… So imposible namang hindi mo pa narinig.
Yup, I am talking about network marketing which Pinoys fondly call simply as networking.
And our knee-jerk reaction when we hear this word is disgust. Why? Maybe because of the fear of us becoming new victims where we will be made to purchase overpriced products or to be lured and become recruits.
This is saddening. How ‘selling’ has acquired this tainted meaning in the marketing arena — as we have already pointed out in this previous blog post.
But is networking inherently evil or scam?
You might nod in affirmation. And we can’t blame you. Nowadays, offline and online, we can see how pyramid schemes have been popping out wildly like mushrooms.
All are very aggressive at pursuing pathetic people with little to no financial education. But the answer is no; networking is not inherently evil. And I am about to teach you how to spot the good ones.
So to help you know if a ‘networking’ company is good, here are some guidelines:
1. Check if the company is duly registered in the Security Exchange Commission (SEC), with a real physical office, as well as complete and valid business permits.
Unfortunately, even illegal companies pass this test so you have to dig further with the following measures.
2. You need to research if it is led by reputable investors and board of directors who are well-known in the company’s field of business.
3. Then, you need to find out also if it has a great array of tangible products that you yourself would be willing to buy and use.
4. Next, go check if its products are with clear and fair pricing. You have to make sure that its prices are not sucking on membership recruitment for profit and continued survival.
At this point, you might already be naming some networking companies which fall into this mistake and are now very dead.
5. And MOST IMPORTANTLY, the business must have a good support system that provides its members with rigorous training and education. And of course, it must be able to provide customer service and complaints support, too.
But of course, this list is not exclusive. You may dig even further if you think there are still some things which you want to get clarified before laying your cards on the table.
However, if you are too lazy to check on these things, I am not holding back myself from telling you that networking is NOT for you. And you need not look no farther than your Facebook Newsfeed—your friends might have even already fallen in the traps and are blindly posting some of these ‘get (real) quick rich schemes’ with photos of ₱1,000 bill bundles.
It is in my prayers that you, my readers, are not too naive to fall into the pyramid or get rich quick scams. Please, be financially literate. And instead of saying “One day” say “Day one”.
Seriously, it’s time to be financially wise. See you again on my next blog post!
Do you have questions? Drop it on the comment box below!