Another year is almost over again and I had to rethink how I spent this year especially when it come to the finance aspects and I along the line I started rethinking how my life would have been without having any knowledge about crypto and the opportunities embedded in it, what if I decided to neglect the opportunities the way some of my friends did because there is no guide or they aren't just interested. while surfing the net today, something caught my attention and it made me rethink about some past mistakes I made while trying to be financially independent, in the quest for financial freedom I decided to start researching on various online business to do with little or no investment back then and the only business popular then was all this MMM and MLM businesses.
Couldn't do MMM because I was somehow skeptical about providing help to someone and not getting help in returned and luck really shine on me back then, whenever I want to provide help, I'm always busy to go the bank or I should be in camp till the time required elapse so most times they always kick me out. I only venture into Multi level marketing scheme (MLM), bring 2 people to bring two people kind of business, the first one I did successfully was coolnaira that only require investment of 1000 naira and based on the requirement, we need to bring two people who will also bring 2 to earn. The hunting begins and I had to start telling my friends to register, It wasn't and easy task but I was able able to convince to register, they did and I got my rewards, so the ladder continue, 2 to 4, 4 to 8, 16, 32 on and on. The founder notice his first mlm business worked out so he introduce another one with 10k as investment and lot of incentives if you move from one ladder to another, from smartphones to laptop and at the last ladder a car.
It was really enticing, we register and things went well at first until the founder decided to wed and along the line he started changing the business rules, by first reducing the incentives to the referral amount, he made an announcement post which started that after he and his wife who is now part of the business team recalculate everything, he was running at lost, After the announcement, the business start crumbling. First, there was no one to bring in again, incentives are now lower and people started complaining especially the new people that joined, that was when reality set in. Unfortunately for me, I refer some of my colleagues in school and they didn't earn anything in a month馃槀, now they were after me to return their registration fee of 10k (4 students).
I couldn't because I already spend my rewards after I withdraw it, they threaten to beat me up anytime they saw me in school, I started running up and down trying to hide for month until they decide to count it as a loss. Pronzi scheme is really a bad investment decision even though people negligence won't make them to realise it, the main question should be where is the money coming from? it is business wise to invest in something that will rob peter to pay paul. This question is a big one and I always recall it anytime someone try to introduce me to any business model that need me to invite anyone to invest certain amount of money.
