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My thoughts on Swiss Golden ( and network marketing in general)

 

I got the direct message  in the image below a few weeks ago.

This is not the first time I’m getting a message like this, so I decided to tackle it head-on this time.

 

What is network marketing or multi-level marketing?

Network marketing or Multi-level marketing is a popular business opportunity for people looking to earn extra income from a side gig.

This style of marketing originated in the 1920’s when it was introduced by California Perfume Company (renamed as “Avon Products”)

Over time, It has remained a controversial marketing strategy, with countries like China making it illegal and banning its use due to the thin line between some network marketing schemes and traditional pyramid schemes. While not banned in Nigeria or the US, it does have a negative perception in some quarters.

However, quite surprisingly as well, the multi-level industry is one of the highest earning industries in history, paying out more than traditional high income industries such as sports and music.

The National Football League (NFL) , the highest professional level of American football in the world, shared revenues over $7.8bn in 2016.  The American music industry earned $7.65 billion in revenue while the network marketing industry earned an estimated $183.7bn in global sales in 2013.  This is higher than the government budgets of all the countries in West Africa put together.

 

What was my personal experience?

I was still in college (university) when I got signed up (indirectly) to the Forever Living Product (FLP) marketing program. FLP is a multi-level marketing company which manufactures and sells Aloe-Vera based products and other nutritional supplements.

To be honest, I got attracted to the opportunity to earn income by recruiting other sales representatives. I didn’t think much about the opportunity to sell the product line. So when it became a chore to recruit people, I tried to sell the product line but that didn’t work out so well.

It didn’t take me too long to realize it wasn’t working for me and I dropped it.

This was my personal experience and I acknowledge that, back then, I didn’t understand that learning how to sell was a key skill required to succeed in anything.

Whether we acknowledge it or not, we all sell; we sell our skills, our knowledge, our lives, our stories and so much more.

If you’re a career person, you sell your ability to get the job done to your boss or organization.

A business person? You are always trying to attract and keep the right customer.

Selling is a great skill and it’s one of the great things about network marketing; It forces you to learn how to sell.

 

 

Should you get into network marketing?

An investment decision is a private decision.

You need to decide if it is the right opportunity for you.

Do you have a clear understanding of how it earns you money? Things get tricky where the company does not market a clear underlying product or service. Forever Living product markets aloe-vera based products, Oriflame markets cosmetics.

Where the company does not market a clear product, It is most likely a pyramid scheme.

Does the company primarily compensate its participants or sales agents for recruiting others and not for selling its products or services? A marketing scheme where participants are primarily compensated for recruiting more participants is a red flag and might be a pyramid scheme.

Finally, is it the right investment decision for you? Are you willing to actively sell the company’s product line or service if it exists? The ability to sell is a core skill required to succeed in network marketing.

If you think you have strong selling skills, are you willing to put in the time required? and what are you willing to sell?

Swiss Golden is quite popular today. The company claims it is the only network marketing company trading a classic asset; gold. I do not have any experience with this company, so I honestly cannot share if it is a good investment decision or not.

However, there is no such thing as easy money. If it is easy money, then it will leave your hands easily.

Every opportunity requires a mindset.

Network marketing is an opportunity but it’s only for those who know how to use it, understand how it works and are willing to put in the work to succeed.

If you have doubts, there are other investment opportunities so don’t despair

Do what works for you. The Forbes list is proof that there are different routes to wealth.

Do you have a personal experience with network marketing? Feel free to share in the comment section below

 

7 Comments

  1. Great one Tomie . Before now I was skeptical about network marketing, as a mom I got searching for extra source of income to support the home front. till I met a mentor who has built a successful career in it and I signed up. The challenge is most people especially Nigerians approach it with a get rich quick mindset and thus miss it. When I came onboard my mentor told me its not a get rich quick scheme give yourself 5yrs with focus, discipline, personal development and hardwork (these are the success recipe in network marketing) you will record massive breakthrough.
    And honestly I am enjoying every bit of my journey. Network marketing is not perfect but it is a better way.

    Thanks Tomie again for discussing this Topic.

    • Glad to hear this Patience. I really like your mindset towards it as well. Any get-rich-quick scheme is suspicious. I’m sure most of us can learn from your focus, mindset and discipline. Thank you for sharing.

    • Patience, I celebrate you already! This is the appropriate approach to the profession.

      It saddens me to see how many “so called” network marketers approach it as a lottery ticket! This isn’t what network marketing is. There’s WORK to be done.

      I don’t just like to TALK about what’s wrong and so this drove me to set up a community to help network marketers actually GO PRO. This is the only way to leverage such an amazing industry!

      Well done Patience!!!

  2. Tomie, I wish I could LOVE this a million times. I can’t. So I’ll do what I can- SHARE AND SHARE until your share buttons stop working!!!

    Thank you for this succinctly composed and unbiased review on the industry. If only other “experts” would be this objective on an industry they know NADA about!

    My already massive respect for you just stepped up some more.

    I honor you!

    -Lynda Iheanachor
    Network Marketing Professional & Success Coach

    • Thank you so much Lynda!

      To be honest, seeing such a strong personality like you being so passionate about what you do, made me dig in a bit to learn all I could about the network marketing industry.

      The industry gets a bad rap often and that’s because people get into it for the wrong reasons and expect quick returns.

      Well done on all you do and I am humbled by your kind words.

      Keep being a rock star!

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