business networking
By ahscor2001
@ahscor2001 (29)
Philippines
May 18, 2007 6:43am CST
Is networking as applied in the business world not a scam? It looks like pyramiding to me which however one may justify it is just plain and simple scam. It is not viable in the longer term. Many (the early joiners) have made a lot but the late downsides have lost their pants.
What can you say about this practice? Is it legitimate?
1 response
@lquiambao (109)
• Philippines
28 May 07
I am actually into networking also but this one has been here in the Philipines for 7 years now so it's not a scam but a legit business dealing with herbal supplements, coffee, etc. Networking is a marketing strategy wherein companies have the consumers themselves market the products in exchange for commissions. Networking becomes a scam when the company concentrates on recruitment rather than selling the product. When the income of the members rely so much on recruiting downlines and not on selling the products, this becomes pyramiding.
Yes, it's the pioneers who makes more money but in some networking companies (like ours) when you're lazy, your downline may be earning more than you do. Of course, pyramiding is not legitimate and punishable by law. The lesson is to research first the company before joining - how long they have been in the business, whether the products are good and can stand on their own, and of course whether the company is a registered business with SEC or DTI.
@ahscor2001 (29)
• Philippines
28 May 07
But isn't First Quadrant legit? I don't read about it anymore. I used to be a member of this "network" but for years now and I don't know what happened. I have every reason to believe that it was a business above board given the incorporators to be respectable names in the businessworld and government. I am/was a member of iGenPortal and just like the first I don't know if it continues to exist.
@elisata (568)
• Netherlands
28 May 07
If you don't know whether the programs you were/are a member of still exist, then they probably don't....
Networking is as old as doing business is! Go back to the old times, where the butcher buys from the bakery, the bakery from the veggie man etc etc. Networking is what keeps the world going, both in social and in business life.
Networking is becoming sleazy when you fist have to build a complete downline before you can earn a penny. Then you can be sure someone else is cashing your hard earned money. So the advice of Lquiambo is very solid: check a company before you join, see how solid they are, whether they have a real product to sell - elektronical stuff of 'real stuff' - and whether you want to be associated with the firm. There is nothing wrong with networking when you do it decently. We all do it and it is not only the first few persons that earn. You have to check the programs on that too. As soon as you feel that you are going to be 'downstairs' for a long, long time, don't join!
1 person likes this
@lquiambao (109)
• Philippines
30 May 07
Hi ahscor. I saw a lot of articles about First Quadrant and a lot of forums by OFWs in the Middle East who got scammed, also IGenPortal. Exactly what I said that there's a difference between networking and pyramiding. Mine is one which has been in the Philipines for 7 years and therefore is very solid. Founded in Malaysia and that's where the products come from. For only 500 pesos when I joined, I never intended that I will earn much but I like the products (herbal supplements based on reishi mushroom, coffee, etc.) and has referred these supplements to my "friends-patients" who can't afford Western medicine or who have suffered from side effects from medicine. I only get a check monthly just enough to pay my electricity bill but I don't care, I use the products and my friends have been cured from ailments like hypertension, arthritis, diabetes, asthma, etc. so I'm happy.
