How to Detect a "Pyramid" Scam
- Thread starter jeniker72
- Start date
- 15,319
When the goal is recruiting rather than the product, you know it's a pyramid scheme.
Rick
Rick
CharityQuotes
Expert
- 44
I agree, I think it can be disguised but it is pretty cut and dry. If they push your focus to getting new agents before signing customers its a pyramid scheme.
- Thread starter
- #4
I kind of thought the same thing. When I was "hired" I was told I was being hired as a manager. And they wanted us to recruit at least one person a month. Of course, I'm told I'll make overrides on whomever I recruit, provided they make their goals. This company is behind their products but the whole mentality is you don't really need to know how to sell, you have to be able to teach others. Does that make sense? This is the second company I'm working with and although I find the insurance industry interesting, I just can't get enthused about door-to-door sales. Any advice?
- - - - - - - - - - - - - - - - - -
Which then brings me to my next problem, what are the chances are actually making a lot of $$ off of recruits.
- - - - - - - - - - - - - - - - - -
Which then brings me to my next problem, what are the chances are actually making a lot of $$ off of recruits.
Last edited:
- 1,896
- 14,808
If you don't concentrate on personal production, and instead just focus on recruiting you'll be in financial ruin unless you're receiving a rather large override, have plenty of money to market in order to hire new agents, and around 1 year of savings unless you plan on living off your spouses income.
- 115
Why wouldn't you want to pay to join some hyped up FMO with a slick website and give up a HEFTY chunk of you commissions to be part of their "FAMILY"?
Why wouldn't you want to spend time recruiting agents with no experience (cause none with experience will talk to you when they see the commission structure) instead of concentrating on learning your trade and protecting families?
Heck, nowadays even Amway and its companies are saying you can sell life insurance thru them and make commissions on your sales! Are your nipples hard with excitement yet?
In closing, I can't even motivate my teenage son to clean up in his room, I am not going to rely on somebody else to produce income for me unless I do have a bunch of money put away so I can "live" off the sales of my newby recruits for a year or so. healthagent is right on the money
MLM Many LOSE Most
Why wouldn't you want to spend time recruiting agents with no experience (cause none with experience will talk to you when they see the commission structure) instead of concentrating on learning your trade and protecting families?
Heck, nowadays even Amway and its companies are saying you can sell life insurance thru them and make commissions on your sales! Are your nipples hard with excitement yet?
In closing, I can't even motivate my teenage son to clean up in his room, I am not going to rely on somebody else to produce income for me unless I do have a bunch of money put away so I can "live" off the sales of my newby recruits for a year or so. healthagent is right on the money
MLM Many LOSE Most
Last edited:
- Thread starter
- #8
HA, HA, HA, thanks for the response Attilla. I think I've wasted enough time with this insurance industry. I've tried with two companies and I just think it's not my thing. At this point & time, I'll keep going because I can't find another job otherwise
Hey, another question, if everyone keeps saying insurance people are very wealthy, why do you see them still working in their 60s? If I could have the opportunity to retire early, I'd take it in a flash. I've worked with two guys now that have bounced from company to company for the past 20 years, it makes me wonder.
Hey, another question, if everyone keeps saying insurance people are very wealthy, why do you see them still working in their 60s? If I could have the opportunity to retire early, I'd take it in a flash. I've worked with two guys now that have bounced from company to company for the past 20 years, it makes me wonder.
- 14,808
If your only goal is to get "very wealthy" I'd suggest getting into infomercials - maybe team up with Ron Popeil. If not, a very satisfying career that you enjoy and pays well is a great life.
That said, there are indeed very wealthy agents. Most absolutely love what they do and you couldn't pay them to retire.
Question, why doesn't Donald Trump retire? Isn't he a millionaire?
That said, there are indeed very wealthy agents. Most absolutely love what they do and you couldn't pay them to retire.
Question, why doesn't Donald Trump retire? Isn't he a millionaire?
- Thread starter
- #10
