A Pyramid Scheme according to Wikipedia is:
"a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, often without any product or service being delivered."
Basically it is a scam. A way for some one to take advantage of you. People want to make quick profits and scams are great ways to do it. Pyramid Schemes go way back. They don't really sell anything. They just want you to recruit more people. The people at the bottom pay money and the people at the top reap all of the rewards. Always be on the look out for a scam. Don't lose your money.
Wikipedia goes on to say:
"A successful pyramid scheme combines a fake yet seemingly credible business with a simple-to-understand yet sophisticated-sounding money-making formula. The essential idea is that the mark, Mr. X, makes only one payment. To start earning, Mr. X has to recruit others like him who will also make one payment each. Mr. X gets paid out of receipts from those new recruits. They then go on to recruit others. As each new recruit makes a payment, Mr. X gets a cut. He is thus promised exponential benefits as the ''business'' expands."
Scams have been around for a long time. Scams are very dangerous. Don't trust anyone who wants you to give them money first. Always think for yourself, Research and Question everything. You should always question someone. If an individual offers you a deal but won't give you all the detail, that probably means its a scam.
Scam
–noun | 1. | a confidence game or other fraudulent scheme, esp. for making a quick profit; swindle. |
–verb (used with object) | 2. | to cheat or defraud with a scam. |
4 comments:
Wow man. Either you had a massively horrible presenter or you didn't bother to listen to the information they gave you. the only thing LTD has for sale is training materials. LTD is a training organization. Yes they make money off the materials (mostly on the CD's, if you looked the book pricing is within a few cents of what you can get them at a book store for). The products are provided through Amway/Quixtar (gasp!)
Thats cool...too bad we don't get a "cut" from people we "recruit."
In fact, when you sign up, none of that money even goes through the person who invited you, or any of their team members. Looks like you need to do more investigating.
P.S. I love how all of the "research" done here is from sources that would not be accepted as credible sources to use for any paper in high school or college. Nice job :)
"Like" Last comment... I actually like this blog because it is so uncreditable that anyone with an ounce of common sense and logic would look at this and say, "This guy is actually citing Wikipedia as his source!?!?!" He probably put the post on wikipedia that he's quoting from. Ha!
Facts are, I do medical billing and credit during the day and have access to full details of whether a company is credit worthy on D&B (Dun and Bradstreet). I pulled Amway's details and background and last year at this time they had 8.4 billion dollars in sales, privatly owned, and if they sold the company right now it would sell for 2 billion dollars. A pyramid scheme that moves 8.4 billion dollars worth of products per year?!?! I feel stupid for just typing what was said in this blog. I hope anyone who actually reads this blog takes it with a grain of salt and goes out there and gets "creditable" information. Not some whiner's ignorance on something he has no idea about. There's my 2 cents for ya : ) Merry Christmas all and God Bless!
These comments are quite humorous, and the amount of misguided information is astonishing. Yes, LTD is the training side of being an IBO for amway. You don't MAKE money from LTD, you make money from Amway.
I've been in business for only 2 months now and have made >$600 in profit just by myself; no team/legs. Obviously it works. If you go into the business and don't put in effort into it, of course you're not going to make a profit; that is the same for any sales company.
Stop searching online and get some credible information from credible sources. If I need to go into further detail, please ask any questions you may have.
Sincerely,
A successful Amway/LTD IBO
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