Team-BHP > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 6th February 2017, 10:26   #106
Senior - BHPian
 
S_U_N's Avatar
 
Join Date: Mar 2010
Location: Oslo
Posts: 1,809
Thanked: 403 Times
Default Re: Anyone into multi-level marketing?

Quote:
Originally Posted by TorqueyTechie View Post
... Today I spoke to them and they have lost close to 3 lakhs.
3 lakhs per person? Wasn't each person supposed to invest only Rs 57000?

A news article on Hindustan Times states that they stopped paying money that was promised to the investors. I am not sure why they did that, when they were making such a lot of money. So this is a case of Section 420 it seems and nothing to do with a flaw in MLM, correct?
S_U_N is offline  
Old 6th February 2017, 10:49   #107
BHPian
 
TorqueyTechie's Avatar
 
Join Date: Apr 2014
Location: Robin hood city
Posts: 875
Thanked: 1,387 Times
Default Re: Anyone into multi-level marketing?

Quote:
Originally Posted by S_U_N View Post
3 lakhs per person? Wasn't each person supposed to invest only Rs 57000?

A news article on Hindustan Times states that they stopped paying money that was promised to the investors. I am not sure why they did that, when they were making such a lot of money. So this is a case of Section 420 it seems and nothing to do with a flaw in MLM, correct?
Actually I meant to say that both my friends together have lost around 3lakhs. yes they had to invest 57000 per person. But they also enrolled their spouse as well as their siblings in the scheme.

I think the scheme works as long as you get more capital coming in from new people joining in. Once the number starts to dwindle the payout also starts to reduce. But there are lot of supporters for this scheme still and one of my friend who has lost money is still supporting him. It seems that the guy, Mr.Mittal has said that he will come back strong and there is nothing wrong in what he is doing.
TorqueyTechie is offline  
Old 6th February 2017, 14:05   #108
Team-BHP Support
 
Chetan_Rao's Avatar
 
Join Date: Jul 2010
Location: Bangalore
Posts: 3,694
Thanked: 12,258 Times
Default Re: Anyone into multi-level marketing?

The lure of a quick buck is as old as humanity, impossible to cure.

Plenty of acquaintances and extended family are neck deep in one or the other of these 'get rich without moving an inch' schemes. My stance is simple, they're welcome as long as they leave their 'this is a swell business' rhetoric outside the door. Some good relationships ruined, but it's upto people to prioritize what they'd rather have, a friend/relative or a sucker for their 'network'.
Chetan_Rao is offline  
Old 6th February 2017, 15:56   #109
Senior - BHPian
 
bluevolt's Avatar
 
Join Date: Jan 2011
Location: New Delhi
Posts: 3,261
Thanked: 3,341 Times
Default Re: Anyone into multi-level marketing?

And as if it was bound to happen.

I raised concern about Social Trade thing on team-bhp just a few days back by raising a new thread which got merged with this one.

I am happy that I didn't fell for this scheme suggested by a friend to invest 57,000 INR!
bluevolt is offline  
Old 10th February 2017, 07:56   #110
Senior - BHPian
 
maddy42's Avatar
 
Join Date: Aug 2007
Location: Coorg
Posts: 1,977
Thanked: 845 Times
Default

Anyone from Kerala here can shed light on the real estate scheme which lost a lot, something called Apple a day or something. They promised apartments which were sea facing and had a lot of nris invest and turned out they didn't even own the land they promised to build these apartments on. Be careful folks, for every 1000 innocent folks, there is atleast one scammer.
maddy42 is offline  
Old 3rd December 2017, 09:38   #111
BHPian
 
Join Date: Mar 2015
Location: Bangalore
Posts: 253
Thanked: 618 Times
Infractions: 0/1 (5)
Default Re: Anyone into multi-level marketing?

Thanks to the over friendliness of the Amway folks, I have transformed into a person who would avoid talking to strangers in public place!

Some scenarios over last 1 year:
1. Nandini milk parlour in HSR Layout: I have having coffee and browsing team-bhp and one person asks me directions to Electronic City- saying he is new to Bangalore and has to go to pickup his wife. I give him detailed explanation - genuinely trying to help him. We introduce each other and he said he works in Container Corporation. When came to know that I am an MBA, he asks for my number as he needs some career advise- I give it unsuspectingly. The magic begins - every 3 days he will call ~8PM- and talk about - entrepreneurship, professional circle and some meeting happening in weekend for guidance which will liberate me of all my day jobs. I had to block his number.

2. A LinkedIn connection request from some one who is an IIT Alum and works in General Electric. He pitched me that he is running a startup in mineral processing area and I'd some expertise and he wanted to get guidance. I agreed. We met in Adyar Anand Bhavan. He said he has another startup where he wants me to be a partner. It was about 'Make it big in 5 years', 'retire in luxury in 5 years', 'liberation from day job', 'stop working for others'. I asked whether it is Amway, and he said yes. I'd to foot bill for him as he said he doesn't have cash.

3. I was taking a walk in the Agara Lake Trail last weekend morning. One person stopped me saying he is part of a start-up focussing on health and fitness and wants my responses to 5 questions. I agreed. Then he said his startup also gives advise on fitness and nutrition in 1-many and 1-1 basis. He asked for my number and said he will coordinate this we can achieve 'financial freedom'. I was like NOT AGAIN! I gave him a wrong phone number (Changed some digits) and left. I saw him doing the same to other unsuspecting morning walkers for next 3 days.

4. I was at bank depositing Cheque. A man in nice english requests me for pen. While we wait in queue, he talks how he returned from Dubai and he was brought-up in Dubai. He has returned to help his sister and brother in law for business. He then pesters me for my number so that he can catchup later. I politely asked has he got something to do with Amway - he was shaken up but admitted yes. I said I am sorry.

I have changed as a person I am now ever so cautious of any one approaching me - smiling/friendly face in a public place or social media trying to fleece me whether its LinkedIn or Public Transport or Public Place.

I hate you Amway for misleading folks in name of startup, professional circle, business opportunity.. etc etc.

Last edited by daretodream : 3rd December 2017 at 09:43.
daretodream is online now  
Old 27th December 2018, 08:31   #112
BHPian
 
Join Date: Jan 2013
Location: Jaipur
Posts: 578
Thanked: 1,353 Times
Default Re: Anyone into multi-level marketing?

Had my first experience yesterday with a MLM representative.

He came in the form of an over friendly individual who just happened to be sitting alone in a cafe and came to me for some talks. Introduced himself, asked me what I do, bla bla and suddenly started talking about Financial freedom and how instead of working for money, some people make the money work for them. I let him finish first and then asked him which other books of Robert Kiyosaki has he read?
With a sheepish smile, he continued his presentation and even took out a pen and a note book. By now, I knew he wants to sell me something, only wondered what.

Then he started making a pyramid and saying I bring two guys, those two guys bring two each and then voila, we all will be driving an Audi someday.
I felt sorry for the chap that he fell victim of this MLM plot and now wasting his time duping others.

This guy was from a company called Ebiz and they are selling IT courses, some 100 plus maybe. Told me, sir, you can learn HTML and various other things from this and then one day when you'll start your business, you can make your website by yourself. I asked him, isn't it better that I let some IT company to work on my website so that I could focus better on my business.

He wasn't done yet. Begged me to attend their seminar on the coming Sunday. Somehow, I managed to escape from that place and last night searched the web about this company.

I was shocked how so many have been a victim of this Ebiz scam. Worst thing is, they still think it will make them rich and are blindly following their seniors.
Yes it will make you a better sales person and improve your soft skills. But can't you see, more than eighty percent of the money is going to the founder. Saw a video on YouTube in which the Ebiz founder, Pawan Malhan came on stage and how students in thousands, all raised both their hands as if they have seen some God! This led me to a question- How gullible can some people be!

Last edited by Sherlocked : 27th December 2018 at 08:49.
Sherlocked is offline  
Old 27th December 2018, 09:16   #113
Senior - BHPian
 
Join Date: Apr 2008
Location: Dombivli
Posts: 3,045
Thanked: 2,085 Times
Default Re: Anyone into multi-level marketing?

Had a brush with Swadeshi, the desi flavour of Amway.

I was fresh out of college and one of my dad's acquaintances convinced him for me to join.

I attended a couple of their meetings, even a big celebration type where several of their top leaders came and spoke about how it has transformed their lives.

We had a guy in our town, known through another acquaintance, working in a big IT company who won a car and quit his day job to work full-time for Swadeshi.

I was never a salesman, but the manner in which these guys expected us to rope in all our relatives, even those we hadn't seen in ages, so that we could get to that magic number of 10.

As friends and relatives started avoiding, either because they too had enrolled and had looked at me as a potential step in their pyramid or because they wanted nothing to do with it, I realized the social cost would be too high. For the economic benefit of earning a few hundred or more bucks every month, Iran the risk of being cut off from my entire social circle.

Plus the possibility that I could always earn many times more by focussing that same time on a regular job.

After quitting it, in a couple of years I heard the guy who had quit his day job after winning the car had started looking for a day job again.
honeybee is offline  
Old 27th December 2018, 10:41   #114
BHPian
 
ksameer1234's Avatar
 
Join Date: Sep 2014
Location: Mumbai
Posts: 775
Thanked: 2,676 Times
Default Re: Anyone into multi-level marketing?

Quote:
Originally Posted by Sherlocked View Post
This guy was from a company called Ebiz and they are selling IT courses, some 100 plus maybe.
Wow! Looks like this Ebiz stuff is still active! It was quite a rage a decade ago and their modus operandi was to look for gullible college students. Also, since the business plan was centered around IT, it was easy convince young kids that this is the future. I find it surprising that it survives today.
ksameer1234 is offline  
Old 27th December 2018, 11:44   #115
Senior - BHPian
 
hrman's Avatar
 
Join Date: Jun 2006
Location: Bangalore
Posts: 1,022
Thanked: 596 Times
Default Re: Anyone into multi-level marketing?

Anyone has heard or know someone into Qnet? I came across someone after many years who did not disclose what scheme he was into, but I could gather it was Qnet. (selling vacation packages and multitude of other services and products , getting more clicks to the website, purchase only through reference etc). My feelers pointed to another Ponzi scheme like Amway or the likes.
hrman is offline  
Old 28th December 2018, 08:47   #116
BHPian
 
Join Date: Jan 2013
Location: Jaipur
Posts: 578
Thanked: 1,353 Times
Default Re: Anyone into multi-level marketing?

Quote:
Originally Posted by ksameer1234 View Post
Wow! Looks like this Ebiz stuff is still active!
Yes, they are very much active. The 'tout' who tried to lure me yesterday had his team of four people roaming in that area to look for possible targets.
Also, along with IT, they have added one language learning course. Guess which one. It's Punjabi.

Also I heard the IT courses they teach are very old and not even updated to today's standards. Plus, the certificate they give have no recognition or affiliation.

Definitely scamsters. They look for youths particularly from poor economic background who dream about becoming rich quickly.

Last edited by Sherlocked : 28th December 2018 at 09:16.
Sherlocked is offline  
Old 28th December 2018, 09:23   #117
Senior - BHPian
 
Gansan's Avatar
 
Join Date: May 2009
Location: Chennai
Posts: 3,835
Thanked: 2,087 Times
Default Re: Anyone into multi-level marketing?

There is one thing to be said about MLM, which is your friends and even relatives will start avoiding you. They will even avoid attending your phone calls. This applies to life insurance advisers too.

I joined Amway a few years back due to a friend who was already in. Not because I wanted to make huge money, but because some of their products were good -though expensive-and I wanted to get them at 20% discount. I was buying and using them only for myself. I also gave some of them as free samples to a few close friends and relatives, whom I thought may be interested in such products, and told them they are available with me in case they were interested. That was it, no demo, no hard selling.

I continued to use them for a while. A few friends who used the samples gave a few orders for a while. Gradually it petered out. Then there was some problem with my login password, and I could not order online. Despite several requests it was not fixed. I could go to their store and pick up the things, but I was not inclined. I left it at that.
Gansan is offline  
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright 2000 - 2021, Team-BHP.com
Proudly powered by E2E Networks