Ever since it became famous to Filipinos, I didn’t really buy the thought of getting rich through a multi-level network marketing strategy. One, it’s very infamous to pyramiding scam and fraud. You can’t easily pinpoint which is genuine and which one is not. Two, you recruit to earn if the company doesn’t have enticing product portfolios. Three, you can’t exactly fathom if something is too good to be true seeing the check payments of others.
I was invited to ‘invest’ in a company operating as Network Marketing. The name is Jireh Aeon Prestige, the newest in the industry based in Davao. While they currently offer products the same as others, they’ll be launching next week their unique selling proposition which is the Virtual Personal Assistant. This is the first among others to offer this kind of service where target market (as I see it) were small to medium businesses and enterprises. This is appealing to me since the ‘product’ is something that can be utilized and optimized by those who will subscribe and join the network. The product is tangible and I believe will work as the company’s selling point.
What appeals to me to invest is that the company is just few months old therefore has all the opportunity to grow. The most discouraging factor in joining established legitimate networking is the thought that you’re already at the bottom of the tree, especially those far from Manila where most of network companies start, so there seem to have little opportunity to at least guarantee a money back. Since this is new, the power to compound your money seems to be (and hopefully) unlimited.
But I was offered not only to join as a ‘networker’ but an ‘investor’. Meaning, I am to invest a certain amount to the company with a promise of sharing 2% of their profit every six months for five years. This means a passive income twice a year although the amount will of course depend on the performance of the company. Since I am new to investing, this seems to be believable and realistic, yet can someone actually tell me if this is a sound investment? My dilemma is that I have never believed in the power of this kind of business. It holds me back to shell out huge money for this, yet I feel the regret of letting go a big investment opportunity. I hope somebody who has experience to network marketing (either good or bad) can read this and can leave an opinion about this. I thank you sincerely in advance.
Although the thought of growing my money is one of the reasons why I wanna grab this opportunity, I never intend to stay on this business for the rest of my life (in case I wholly decided to commit to this). I only wanted to grow it so I can have better resources to start my dream business and create jobs for people who needs it.